As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
Yep. 10% down in my id 20's for a house. How's your overpriced apartment?
Mom doesn't charge him that much for hours basement "command center"
And yes my twilio stock is at $113, I bought it at $28 in 17’...so yeah. I made about 80k on it. And you wonder why I didn’t just take that out and pay it off. Well...I have about 6 months left of PMI, and I am getting rid of it 2 years early by paying ahead. And my current rate of return plus tax consequence pretty much makes it a wash, so why waste my time now? Most of the gains have been in the last year.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
And yes my twilio stock is at $113, I bought it at $28 in 17’...so yeah. I made about 80k on it. And you wonder why I didn’t just take that out and pay it off. Well...I have about 6 months left of PMI, and I am getting rid of it 2 years early by paying ahead. And my current rate of return plus tax consequence pretty much makes it a wash, so why waste my time now? Most of the gains have been in the last year.
You sound pathetic.
Cdawg is hoping for a day when painting the house doesn't involve Earl Scheib.
And yes my twilio stock is at $113, I bought it at $28 in 17’...so yeah. I made about 80k on it. And you wonder why I didn’t just take that out and pay it off. Well...I have about 6 months left of PMI, and I am getting rid of it 2 years early by paying ahead. And my current rate of return plus tax consequence pretty much makes it a wash, so why waste my time now? Most of the gains have been in the last year.
You sound pathetic.
You seem bitter...it’s ok, one day you’ll be able to love with yourself. There’s help out there for people like you.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
Most people either refi in a couple years to drop pmi or do a 80/10.
The first years of a loan you're not paying much principal, mostly interest, so unless the property appreciates, uh, appreciably, refi-ing to get out of PMI isn't possible unless you've been paying extra principal above the regular mortgage amount every month
I've owned 3 homes. One I was responsible and had more than 20% down. The other two I did not, one I was young and broke, the other I had my cash working for me. Both of those, I refinanced to drop PMI, one was in the 2000s with crazy appreciation. The other was a foreclosure in 09 that I essentially stole from the bank and was able to refinance in about 18 months.
But yes if you are buying a house in a bidding war and homes don't continue to appreciate, that doesn't work.
Another way is like you said, pay it down to the 20%. I don't pay more on my mortgage than the minimum. My rate is at 3.25% and I get way more than that for my cash in other ways. To each their own.
As a Sole Prop I get to use my 24K standard deduction and nothing changed with my schedule C. Yes...my taxes went down bigly this year. No problem here
Having a sole prop doesn't change your itemized deductions. HTH
Correct, but since I make too much to be able write off mortgage insurance, mine and my wife's standard deduction was higher. This year the standard deduction is a lot higher.
Mortgage insurance? 😂😂🤣
3% down will get you into a sweet townhouse
I put 10% down, needed 20% to not get the mortgage insurance. But I'm sure lot's of guys in their mid 20's have 20% lying around...
Most people either refi in a couple years to drop pmi or do a 80/10.
The first years of a loan you're not paying much principal, mostly interest, so unless the property appreciates, uh, appreciably, refi-ing to get out of PMI isn't possible unless you've been paying extra principal above the regular mortgage amount every month
I've owned 3 homes. One I was responsible and had more than 20% down. The other two I did not, one I was young and broke, the other I had my cash working for me. Both of those, I refinanced to drop PMI, one was in the 2000s with crazy appreciation. The other was a foreclosure in 09 that I essentially stole from the bank and was able to refinance in about 18 months.
But yes if you are buying a house in a bidding war and homes don't continue to appreciate, that doesn't work.
Another way is like you said, pay it down to the 20%. I don't pay more on my mortgage than the minimum. My rate is at 3.25% and I get way more than that for my cash in other ways. To each their own.
Comments
Still have rental houses but I'm slowly getting rid of them.
Stop trying to cover your dumb ass
AOC gives him hope!
Ask me how I know.