PSA – have you paid your property taxes?

[UCGal]

Don’t get hit with a fine. Property taxes are due 12/12/11.

[sdrealtor]

Last week I made the 1st payment. Trying to decide whether to pay the 2nd half this year also like I usually do. Tricky tax planning this year as we have the benefit of reduced payroll taxes so itemzied deductions might be best pushed to next year. What to do?????

[UCGal]

I took the 2% reduced SS tax and tossed it in my 401k… one way or the other that money is going towards my retirement.

[SK in CV]

[quote=sdrealtor]Last week I made the 1st payment. Trying to decide whether to pay the 2nd half this year also like I usually do. Tricky tax planning this year as we have the benefit of reduced payroll taxes so itemzied deductions might be best pushed to next year. What to do?????[/quote]

Millionaire tax could be going up next year, so your deduction will be more valuable in 2012.

Reduced payroll tax might be extended too.

And….the reduced payroll tax won’t have any effect on the value of the tax deduction if rates don’t change.

And on the other other other hand…business could turn to shit next year and your income fall and the value of the deduction could be worth even less.

You’re welcome for all the help 🙂

[Coronita]

I don’t think it matters for me because I think I get hit by AMT. Then again I haven’t crunched the numbers yet.

[sdrealtor]

Thanx SK

[Author]

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