"In total, a new buyer would lose about $25,000 in deductions in the first year of purchasing a home priced around $1.2 million. The impact is disproportionately more harmful to new homebuyers than existing owners."https://blog.pacificunion.com/final-version-of-tax-reform-is-still-detrimental-for-california-housing-marketst/ …
-
-
My original analysis incorrectly assumed 25k was salt, which is how I got 350k (assume 10% state tax, add in 10k that is deductible, gives 350k income). So with 1.2m mortgage (450k) not deductible, that means couple needs to pay 2k more. If have 1 kid, they are break even
-
I ran numbers yesterday based on SALT only and I was surprised I would get a tax cut. If you are interested, here are my calculations https://docs.google.com/file/d/10aRTK9pBBXbmx6WvHoVUJQedqhlFHP1F/edit?usp=docslist_api&filetype=msexcel …
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.