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My tax bill tells me otherwise. The interest on my home loan does not and cannot erase my taxes. That deduction is not what you think it is: https://www.fool.co
by annoyingnoob 7y ago
My tax bill tells me otherwise. The interest on my home loan does not and cannot erase my taxes. That deduction is not what you think it is:
https://www.fool.com/millionacres/taxes/real-estate-tax-deductions/can-i-still-deduct-my-mortgage-interest-2018/ https://www.fool.com/millionacres/taxes/real-estate-tax-dedu...
My home happens to include Mello-Roos taxes for local improvements, like schools and a fire station. This more than doubles the property tax that I pay.
Sorry to tell you, I don't have it anything like FedEx. I paid over 26% of my gross income on taxes last year.
- frockington1 7y agoTaxes suck, no denying it. Thankfully where I live its relatively easy to find nice properties with long tax abatement for investment. Beyond that max your 401k, IRA, HSA and live or "live" somewhere with low taxes
- annoyingnoob 7y agoTaxes suck, even big corporations that produce a lot of jobs need to pay them.
- mlyle 7y agoYou're blurring the lines and talking about various taxes, etc. Pretty sure FedEx pays property taxes-- not just real property taxes on property they own and lease, but also tangible property taxes on assets like planes and trucks.
- annoyingnoob 7y agoI paid over 26% of my income in taxes on my form 1040. No blurred lines, this includes whatever mortgage tax deduction that I may or may not have received.