- This topic has 180 replies, 21 voices, and was last updated 16 years, 6 months ago by
(former)FormerSanDiegan.
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August 17, 2008 at 9:33 AM #258254August 17, 2008 at 11:54 AM #257982
Eugene
ParticipantI’m slow on these things. My federal tax rate is 15%. State is 9.3%? I take it your “35%” has something to do with tax breaks?
35% is 25% or 28% federal (or 26% AMT) + 9.3% state.
There may be some prospective homebuyers like you in 15% bracket, but their number is low, for obvious reasons.
August 17, 2008 at 11:54 AM #258171Eugene
ParticipantI’m slow on these things. My federal tax rate is 15%. State is 9.3%? I take it your “35%” has something to do with tax breaks?
35% is 25% or 28% federal (or 26% AMT) + 9.3% state.
There may be some prospective homebuyers like you in 15% bracket, but their number is low, for obvious reasons.
August 17, 2008 at 11:54 AM #258183Eugene
ParticipantI’m slow on these things. My federal tax rate is 15%. State is 9.3%? I take it your “35%” has something to do with tax breaks?
35% is 25% or 28% federal (or 26% AMT) + 9.3% state.
There may be some prospective homebuyers like you in 15% bracket, but their number is low, for obvious reasons.
August 17, 2008 at 11:54 AM #258230Eugene
ParticipantI’m slow on these things. My federal tax rate is 15%. State is 9.3%? I take it your “35%” has something to do with tax breaks?
35% is 25% or 28% federal (or 26% AMT) + 9.3% state.
There may be some prospective homebuyers like you in 15% bracket, but their number is low, for obvious reasons.
August 17, 2008 at 11:54 AM #258274Eugene
ParticipantI’m slow on these things. My federal tax rate is 15%. State is 9.3%? I take it your “35%” has something to do with tax breaks?
35% is 25% or 28% federal (or 26% AMT) + 9.3% state.
There may be some prospective homebuyers like you in 15% bracket, but their number is low, for obvious reasons.
August 18, 2008 at 12:25 AM #258207smshorttimer
ParticipantCorrect. I’m a bit out of my element. Thankfully people still bought homes in mid-2006.
August 18, 2008 at 12:25 AM #258396smshorttimer
ParticipantCorrect. I’m a bit out of my element. Thankfully people still bought homes in mid-2006.
August 18, 2008 at 12:25 AM #258408smshorttimer
ParticipantCorrect. I’m a bit out of my element. Thankfully people still bought homes in mid-2006.
August 18, 2008 at 12:25 AM #258455smshorttimer
ParticipantCorrect. I’m a bit out of my element. Thankfully people still bought homes in mid-2006.
August 18, 2008 at 12:25 AM #258499smshorttimer
ParticipantCorrect. I’m a bit out of my element. Thankfully people still bought homes in mid-2006.
August 18, 2008 at 7:41 AM #258227Anonymous
Guest35% is 25% or 28% federal (or 26% AMT) + 9.3% state
You also need to calculate your loss of standard deduction in there as well. Since I’m married, I’d lose about $5,000 worth of my federal standard deduction. Most planners seem to feel that property taxes and the deduction cancel each other out in most cases and base their calculations on that assumption.
August 18, 2008 at 7:41 AM #258415Anonymous
Guest35% is 25% or 28% federal (or 26% AMT) + 9.3% state
You also need to calculate your loss of standard deduction in there as well. Since I’m married, I’d lose about $5,000 worth of my federal standard deduction. Most planners seem to feel that property taxes and the deduction cancel each other out in most cases and base their calculations on that assumption.
August 18, 2008 at 7:41 AM #258428Anonymous
Guest35% is 25% or 28% federal (or 26% AMT) + 9.3% state
You also need to calculate your loss of standard deduction in there as well. Since I’m married, I’d lose about $5,000 worth of my federal standard deduction. Most planners seem to feel that property taxes and the deduction cancel each other out in most cases and base their calculations on that assumption.
August 18, 2008 at 7:41 AM #258475Anonymous
Guest35% is 25% or 28% federal (or 26% AMT) + 9.3% state
You also need to calculate your loss of standard deduction in there as well. Since I’m married, I’d lose about $5,000 worth of my federal standard deduction. Most planners seem to feel that property taxes and the deduction cancel each other out in most cases and base their calculations on that assumption.
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