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ocrenter
Participant[quote=kcal09]The Shadetree home is located directly behind power lines. That is much worse than a view into nothing.[/quote]
absolutely. this is a long time BMIT favorite:
[img_assist|nid=10433|title=transmission tower|desc=|link=node|align=left|width=320|height=227]
as localguy pointed out, there are some overpriced homes in stonebridge, and there are also some homes badly positioned next to powerlines.
potentially someone can really get screwed buying in stonebridge. but the key here is where there is risk, there is also reward. don’t wait on the MLS for a lower priced home (it is likely a short sale with a transmission tower at the front door, aka shadetree). instead, go make your own bargain. for example, localguy mentioned the homes colrich took over from cornerstone. guess what, colrich is NOT advertising AT ALL. those are prime targets for bargain seekers. another prior opportunity was the CityVenture homes that went down to essentially $750k. And prior to that the bunch of homes Davidson sold back in late 08-early 09. then there’s the occasional short sale and foreclosures. bottom line, you will not get a bargain going down the regular sale route.
Participant[img_assist|nid=14113|title=Orchard Bend kitchen|desc=|link=node|align=left|width=100|height=75]
that Orchard Bend kitchen needs a complete remodel. the bathroom is not much better.
look like a complete fixer upper for a million bucks.
Participant[img_assist|nid=14113|title=Orchard Bend kitchen|desc=|link=node|align=left|width=100|height=75]
that Orchard Bend kitchen needs a complete remodel. the bathroom is not much better.
look like a complete fixer upper for a million bucks.
Participant[img_assist|nid=14113|title=Orchard Bend kitchen|desc=|link=node|align=left|width=100|height=75]
that Orchard Bend kitchen needs a complete remodel. the bathroom is not much better.
look like a complete fixer upper for a million bucks.
Participant[img_assist|nid=14113|title=Orchard Bend kitchen|desc=|link=node|align=left|width=100|height=75]
that Orchard Bend kitchen needs a complete remodel. the bathroom is not much better.
look like a complete fixer upper for a million bucks.
Participant[img_assist|nid=14113|title=Orchard Bend kitchen|desc=|link=node|align=left|width=100|height=75]
that Orchard Bend kitchen needs a complete remodel. the bathroom is not much better.
look like a complete fixer upper for a million bucks.
Participant[quote=PatentGuy]True, Flu, but the AMT rate is 28%, whereas the top marginal rate is 35%, going up to 39.5%, so you still pay more than the AMT rate if you are “rich”, even with the lost deductions. This will be especially true starting in 2011, when the itemized deduction phase-out is back in full force, since AMT income will be much closer to regular income.
Be thankful you don’t have New Jersey style property taxes (yet) in CA. AMT must crush the $250K earners in New Jersey who are paying $25K and up in property taxes in addition to state income taxes, plus mortgage interest.[/quote]
as far as logic goes. it really doesn’t make sense that state and property taxes are not deductible but mortgage interest is.
after all, isn’t that double taxation on those amount?
Participant[quote=PatentGuy]True, Flu, but the AMT rate is 28%, whereas the top marginal rate is 35%, going up to 39.5%, so you still pay more than the AMT rate if you are “rich”, even with the lost deductions. This will be especially true starting in 2011, when the itemized deduction phase-out is back in full force, since AMT income will be much closer to regular income.
Be thankful you don’t have New Jersey style property taxes (yet) in CA. AMT must crush the $250K earners in New Jersey who are paying $25K and up in property taxes in addition to state income taxes, plus mortgage interest.[/quote]
as far as logic goes. it really doesn’t make sense that state and property taxes are not deductible but mortgage interest is.
after all, isn’t that double taxation on those amount?
Participant[quote=PatentGuy]True, Flu, but the AMT rate is 28%, whereas the top marginal rate is 35%, going up to 39.5%, so you still pay more than the AMT rate if you are “rich”, even with the lost deductions. This will be especially true starting in 2011, when the itemized deduction phase-out is back in full force, since AMT income will be much closer to regular income.
Be thankful you don’t have New Jersey style property taxes (yet) in CA. AMT must crush the $250K earners in New Jersey who are paying $25K and up in property taxes in addition to state income taxes, plus mortgage interest.[/quote]
as far as logic goes. it really doesn’t make sense that state and property taxes are not deductible but mortgage interest is.
after all, isn’t that double taxation on those amount?
Participant[quote=PatentGuy]True, Flu, but the AMT rate is 28%, whereas the top marginal rate is 35%, going up to 39.5%, so you still pay more than the AMT rate if you are “rich”, even with the lost deductions. This will be especially true starting in 2011, when the itemized deduction phase-out is back in full force, since AMT income will be much closer to regular income.
Be thankful you don’t have New Jersey style property taxes (yet) in CA. AMT must crush the $250K earners in New Jersey who are paying $25K and up in property taxes in addition to state income taxes, plus mortgage interest.[/quote]
as far as logic goes. it really doesn’t make sense that state and property taxes are not deductible but mortgage interest is.
after all, isn’t that double taxation on those amount?
Participant[quote=PatentGuy]True, Flu, but the AMT rate is 28%, whereas the top marginal rate is 35%, going up to 39.5%, so you still pay more than the AMT rate if you are “rich”, even with the lost deductions. This will be especially true starting in 2011, when the itemized deduction phase-out is back in full force, since AMT income will be much closer to regular income.
Be thankful you don’t have New Jersey style property taxes (yet) in CA. AMT must crush the $250K earners in New Jersey who are paying $25K and up in property taxes in addition to state income taxes, plus mortgage interest.[/quote]
as far as logic goes. it really doesn’t make sense that state and property taxes are not deductible but mortgage interest is.
after all, isn’t that double taxation on those amount?
Participant[quote=flu]
The bigger problem is that if you buy a home in CA, it will most likely put you into the “i need to pay AMT taxes” category because, under AMT calc rules, taxes paid which would have been itemized (state taxes, property taxes, etc), are not deductions under AMT.[/quote]
This is where small business owners really have a step up above all of us. The amount of write off that they can put in as “business expense” is huge.
quite frankly they get so much write off that at the end, they end up below the AMT radar.
AMT is really just a way to bring the upper middle professional class down in line with the middle class. The real rich doesn’t feel it at all.
Participant[quote=flu]
The bigger problem is that if you buy a home in CA, it will most likely put you into the “i need to pay AMT taxes” category because, under AMT calc rules, taxes paid which would have been itemized (state taxes, property taxes, etc), are not deductions under AMT.[/quote]
This is where small business owners really have a step up above all of us. The amount of write off that they can put in as “business expense” is huge.
quite frankly they get so much write off that at the end, they end up below the AMT radar.
AMT is really just a way to bring the upper middle professional class down in line with the middle class. The real rich doesn’t feel it at all.
Participant[quote=flu]
The bigger problem is that if you buy a home in CA, it will most likely put you into the “i need to pay AMT taxes” category because, under AMT calc rules, taxes paid which would have been itemized (state taxes, property taxes, etc), are not deductions under AMT.[/quote]
This is where small business owners really have a step up above all of us. The amount of write off that they can put in as “business expense” is huge.
quite frankly they get so much write off that at the end, they end up below the AMT radar.
AMT is really just a way to bring the upper middle professional class down in line with the middle class. The real rich doesn’t feel it at all.
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