San Diego Housing Market News and Analysis
OT: Suggestions on reducing taxable income
User Forum Topic
Submitted by flu on April 21, 2012 - 9:11am
Ok. Having done my taxes, I just realize how pathetic it is. My federal tax rate ended up being 16.9% and my state ended up being 9.5% I got to pay a $7000 AMT. Thank you....
Assuming a lot of this got special dividend tax rate treatment (which probably goes away next year), what else are folks doing to lower their tax bills for next year?
*Rental property expenses only go to $0, you can't report a lose above a certain AGI.
*Moving out of CA. Not an option.
The problem is that a lot of the deductions are tied to spending. I don't spend. Hence I can't take them....
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