[plm]

I thought the 20 percent rate would have been applied to the new $600K point. Doesn’t make sense to me that they would use 2017 tax bracket numbers.

If it goes up to 600K, I could still take advantage of it and start cashing out my long term holdings at 15 percent. Actually 18.8 due to the net investment income tax.

[plm]

Capital gains rates
In general
In the case of an individual, estate, or trust, any adjusted net capital gain which otherwise
would be taxed at the 10- or 15-percent rate is not taxed. Any adjusted net capital gain which
otherwise would be taxed at rates over 15-percent and below 39.6 percent is taxed at a 15percent rate. Any adjusted net capital gain which otherwise would be taxed at a 39.6-percent rate
is taxed at a 20-percent rate.

I was reading the bill to figure out long term capital gains rates and noticed they forgot to change the text from 39.6 to 37 to reflect the top rate change. So does this mean that the 20 percent rate no longer applies? Time to sell my rental!

[plm]

One for the 5.1 stereo and one for normal use. Problem is you don’t hear the echo dot responses if stereo isn’t on. Usually I leave the echo dot disabled. But using two different wake words should be a much better solution.

[plm]

Yes, the echo dot has the 3.5 mm output and I have one hooked up to my Yamaha 5.1 but I’m too lazy to use it. I’d have to issue another voice command: Alexa, trigger listen echo which turns on the Yamaha and sets the input to the echo dot. I have a problem with the echo dot and the echo in the same room so control was always an issue. Maybe I can get around this by changing the wake word of the dot to computer instead.

[plm]

Probably because people multitask all the time, just having music in the background. So the sound quality just doesn’t matter anymore. I’ve stopped using my 5.1 system for music, just tell Alexa to play something on the echo instead. Just easier even it doesn’t sound nearly as nice.

[plm]

[quote=flu][quote=svelte][quote=flu]

Morale of the story… Invest more work less….and tax advantage of the more favorable tax rates for cap gains and dividends and investment income. Learned that one a long long time ago.[/quote]

I am investing in the market more making nice returns but I don’t think tax rates are more favorable for investments. Short term is worse, taxed 3.8 percent higher because of obamacare. Long term isn’t much better, taxed at 18.8 or more likely 23.8.

If the trump tax passes, it stays the same and doesn’t get any better.

[plm]

[quote=kev374]35% rate starts at 200k for singles and $1 million for married? Sounds like discrimination towards singles to me.[/quote]

Married 35 percent rate starts at 260K. Discrimination of married people, not singles.

[plm]

I calculated the numbers and it seems to be a wash for married 400K income. Loss of state tax deduction offset by increased standard deduction and lower tax brackets. If you add in the removal of AMT, the new plan should be lower.

But if you live in a low tax state, then you will do much better.

I think it hurts home owners though, since the mortgage interest deduction might not apply any more if standard deduction is better.

[plm]

I actually don’t have a problem with the new tax plan. Seems to simplify things with most people now using the standard deduction if state and property taxes are no longer allowed. It’s not like you could write it all of anyhow if you are hit by AMT.

No AMT to calculate as well since that is removed.

I didn’t see any details on capital gains rate though.

I do think they should add back in the 39.6 tax bracket for the rich though. They probably have to in order to get the Democrats to support it.

I would guess that most high income folks here would pay less taxes with the new plan due to the 25 percent rate instead of 28 and 33.

[plm]

[quote=FlyerInHi][quote=plm]Anyhow, not getting rent but I’m still naive enough to believe they are just short on funds.
[/quote]

Isn’t that always the case?[/quote]

If they are short on funds then that’s not a big deal, they will pay later. But if they don’t plan on paying later then that’s a big deal and I should evict them now. Problem is there is no track record built up so I just don’t know.

[plm]

Seems like I should have listened to all of the good advice to avoid this renter. Anyhow, not getting rent but I’m still naive enough to believe they are just short on funds.

If they don’t respond to texts or emails, does that mean they are professional squatters? I don’t see any benefit to this. Seems to me they would be making excuses to extend the time they can be in the property without paying rent.

I think I’ll have them pay what they can for now but I’d like to be prepared if I am wrong and they are professional squatters.

Would I need to get a lawyer involved for a three-day notice of the rent due or does that come after?

If so, any referrals for a lawyer for eviction.

Thanks

[plm]

Took a chance and let them in before the wire cleared but it’s all good now. Will have to see if the rent gets paid.

[plm]

Had no idea they were going to do a wire transfer instead of cash.

All of the wire transfer scams that I found when searching online is when people ask you to send money via wire transfers. If it clears, it’s not possible to get the money back easily.

So in my case, since I am receiving the wire transfer everything should be good. But I just have the feeling that I missed something. Maybe I’m just paranoid because they never seem to do what I ask for.

[plm]

Looks like they aren’t bringing cash which I asked for.

Is a wire transfer safe? They are very evasive about bringing cash but I noticed now there is a pending wire transfer to my account which looks legit, they said they had a well off Mom so it could be from her. Spoke with the bank and he said if legit, the pending transfer will clear at the end of the day. So I suppose if at the end of the day, if it has cleared, everything should be ok?

I’m getting the feeling I should have listened to everyone on this forum to run away. But if the wire clears, I don’t see how I can avoid renting to them.

[plm]

I appreciate all the warnings but I’m thinking maybe not being paid rent on time if they have bad credit.

It’s a family moving in from out of town for new jobs so hopefully there was a background check done. Being a family, I think its less likely they will be some scam artist renter.

Anyhow, I’ll learn to screen tenants better next time but I’ve got to give them a second chance. They are going to be here soon with their furniture with no place to go otherwise. Their kids need a nice place to stay.

As for selling the house, income taxes makes it hard to sell since we lost the tax free window.

[Author]

Posts