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- tennyson
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Republican tax plans will make it less beneficial to own a home, analy
Not a good thing for the homebuilding industry in general (at least for the typical single family home market). Also not a good thing for realtors or people looking to sell.
Wondering IF this will make the final cut or not. Seems like too many are going to get hurt with this.
Thoughts ?
Republican tax plans will make it less beneficial to own a home, analysis finds
Last edited by tennyson (11/13/2017 1:37 pm)
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
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Re: Republican tax plans will make it less beneficial to own a home, analy
It will be advantageous to own a home IF one is in the early ("underwater") years of a mortgage, when most of the monthly payment goes to interest, not principle, but ONLY IF one's combined state and local taxes do not exceed $10K; and ONLY IF one also has sufficient charitable contributions to exceed the $12K individual/$24K married filing jointly "standard deduction".
Landlords--especially those who can legitimately claim a small "business" (Schedule C) of property management--will make out like bandits. Not only will they be able to take all of their usual business expenses, but they can then deduct 25% of their net profit from their reported income.
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