A thread about Bill Maher: The Good, The Bad, and The UGLY!
Comments
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I plugged 40 years of payments into that calculator site instead of 30, so accounting for interest rates in hughs article if folks today had to par rates their parents did $576,000 more over the life of the loan. His article said it was a significant facorHalifax2TheMax said:static111 said:
You are ignoring that 420k in 85 gets a mansion but only gets a starter home or a fixer upper depending on locale in today’s market. Obviously the higher interest on 420k 40 years ago will result in paying more on a 30 year fixed. Unfortunately what 420 k bought 40 years ago vs today is not even close. I would rather buy the same house in 1985 80k at 12% than today for 420 k at 6%.Lerxst1992 said:
Go ahead and plug this into any ai app…Halifax2TheMax said:
* The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.Lerxst1992 said:I guess we post only when there’s no employer to screw over business hours perhaps . AI knows without anyone telling it there are 12 mos in a year. And again, ai can do it quicker than any of your self written posts, if youre worried about missing out on Sunday. Monday will be here soon enough, no worries.
The numbers stand on their own. They are calculated facts. Stop obfuscating.
And cant resist the constant mocking ?Got a stock tip or two? My millennial neighbor kids that still live at home need some financial advice. Or do they just AI?
Your math is fuzzy. I used a Zillow mortgage calculator to crunch the numbers from Hugh’s example and there was no hundred of thousands savings or whatever it is you’re claiming. Fuzzy math.GO JAYS!
” What are the total mortgage payments for a 40 year loan on a $420,000, at both 6.5 and 12%”
they will do the calculations slightly different but in every case, the lower interest rates of today v 40 years ago lead the hundreds of thousands of dollars in reduced cost over the life of the mortgage. We could try present value next, once we establish a common frame of reference.
and if it’s really about some faux disbelief of ai, on calculator dot net the payments for 6.5 and 12% respectively
$4320 vs $2655
Over a 40 year mortgage is that not $800,000? That’s per calculator dot net.
and the math gets far worse for Mamdani/gen z supporters, because if using a 401k to build wealth and buy a home thru a loan after ten years, there are also tax and employer match implications that impact the math in a huge manner for the smart investor.AiWith a $80,000 home loan, a 12% fixed interest rate, and a 30-year term, your total payments would be$395,093.45, which includes $315,093.45 in interest. The amount is calculated based on the principal and interest only and does not include property taxes, insurance, and other fees.The actual cost of a $420,000 home with a 6% interest rate on a 30-year fixed mortgage is$906,519.60.Step 1: Calculate the monthly mortgage paymentFirst, you need to calculate the monthly payment using the mortgage formula:M=Pi(1+i)N(1+i)N−1Where:- = monthly paymentM
- = principal loan amount = $420,000P
- = monthly interest rate =i6%/12=0.5%=0.005
- = total number of payments =N30years×12months/year=360
Plugging in the values:M=4200000.005(1+0.005)360(1+0.005)360−1Solving this equation gives a monthly payment of approximately $2,518.11.Step 2: Calculate the total costTo find the total cost of the home, multiply the monthly payment by the total number of payments.Total Cost=Monthly Payment×Total Number of PaymentsTotal Cost=2518.11×360Total Cost=906519.60Answer:The total cost of a $420,000 home with a 6% interest rate over 30 years is approximately $906,519.60.That’s more than I have spent on Starbucks and subscriptions in my life. A million for a starter home. Boy the millennials and younger have it so good.* The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.
Fuzzy math totally disregarded the contents of Hugh’s example and tried to make up some example of how millennials could buy a house today because houses are actually cheaper than 1985. Used today’s median home prices but 1985’s interest rate for comparison to today’s interest rate. Should definitely have a YouTube channel.
You can't even admit to basic finance facts that interest rates are the most significant factor when buying a home. Housing costs rise because of interest and interest is a significant factor in total cost
Just admit you're interested in celebrating partisan hackery and you're only interested in supporting your side and you'll never look at any information with independent thought. Your politics are the mirror image of magaPost edited by Lerxst1992 on0 -
Lerxst1992 said:
I plugged 40 years of payments into that calculator site instead of 30, so accounting for interest rates in hughs article if folks today had to par rates their parents did $576,000 more over the life of the loan. His article said it was a significant facorHalifax2TheMax said:static111 said:
You are ignoring that 420k in 85 gets a mansion but only gets a starter home or a fixer upper depending on locale in today’s market. Obviously the higher interest on 420k 40 years ago will result in paying more on a 30 year fixed. Unfortunately what 420 k bought 40 years ago vs today is not even close. I would rather buy the same house in 1985 80k at 12% than today for 420 k at 6%.Lerxst1992 said:
Go ahead and plug this into any ai app…Halifax2TheMax said:
* The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.Lerxst1992 said:I guess we post only when there’s no employer to screw over business hours perhaps . AI knows without anyone telling it there are 12 mos in a year. And again, ai can do it quicker than any of your self written posts, if youre worried about missing out on Sunday. Monday will be here soon enough, no worries.
The numbers stand on their own. They are calculated facts. Stop obfuscating.
And cant resist the constant mocking ?Got a stock tip or two? My millennial neighbor kids that still live at home need some financial advice. Or do they just AI?
Your math is fuzzy. I used a Zillow mortgage calculator to crunch the numbers from Hugh’s example and there was no hundred of thousands savings or whatever it is you’re claiming. Fuzzy math.GO JAYS!
” What are the total mortgage payments for a 40 year loan on a $420,000, at both 6.5 and 12%”
they will do the calculations slightly different but in every case, the lower interest rates of today v 40 years ago lead the hundreds of thousands of dollars in reduced cost over the life of the mortgage. We could try present value next, once we establish a common frame of reference.
and if it’s really about some faux disbelief of ai, on calculator dot net the payments for 6.5 and 12% respectively
$4320 vs $2655
Over a 40 year mortgage is that not $800,000? That’s per calculator dot net.
and the math gets far worse for Mamdani/gen z supporters, because if using a 401k to build wealth and buy a home thru a loan after ten years, there are also tax and employer match implications that impact the math in a huge manner for the smart investor.AiWith a $80,000 home loan, a 12% fixed interest rate, and a 30-year term, your total payments would be$395,093.45, which includes $315,093.45 in interest. The amount is calculated based on the principal and interest only and does not include property taxes, insurance, and other fees.The actual cost of a $420,000 home with a 6% interest rate on a 30-year fixed mortgage is$906,519.60.Step 1: Calculate the monthly mortgage paymentFirst, you need to calculate the monthly payment using the mortgage formula:M=Pi(1+i)N(1+i)N−1Where:- = monthly paymentM
- = principal loan amount = $420,000P
- = monthly interest rate =i6%/12=0.5%=0.005
- = total number of payments =N30years×12months/year=360
Plugging in the values:M=4200000.005(1+0.005)360(1+0.005)360−1Solving this equation gives a monthly payment of approximately $2,518.11.Step 2: Calculate the total costTo find the total cost of the home, multiply the monthly payment by the total number of payments.Total Cost=Monthly Payment×Total Number of PaymentsTotal Cost=2518.11×360Total Cost=906519.60Answer:The total cost of a $420,000 home with a 6% interest rate over 30 years is approximately $906,519.60.That’s more than I have spent on Starbucks and subscriptions in my life. A million for a starter home. Boy the millennials and younger have it so good.* The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.
Fuzzy math totally disregarded the contents of Hugh’s example and tried to make up some example of how millennials could buy a house today because houses are actually cheaper than 1985. Used today’s median home prices but 1985’s interest rate for comparison to today’s interest rate. Should definitely have a YouTube channel.
You can't even admit to basic finance facts that interest rates are the most significant factor when buying a home. Housing costs rise because of interest and interest is a significant factor in total cost
Just admit you're interested in celebrating partisan hackery and you're only interested in supporting your side and you'll never look at any information with independent thought. Your politics are the mirror image of maga* The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.
Who the fuck takes out a 40 year mortgage? Particularly in 1985??
Just admit that your math is fuzzy. That’s an awful big “if.” In an alternative reality.
09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR; 05/03/2025, New Orleans, LA;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
static111 said:
You are ignoring that 420k in 85 gets a mansion but only gets a starter home or a fixer upper depending on locale in today’s market. Obviously the higher interest on 420k 40 years ago will result in paying more on a 30 year fixed. Unfortunately what 420 k bought 40 years ago vs today is not even close. I would rather buy the same house in 1985 80k at 12% than today for 420 k at 6%.Lerxst1992 said:
Go ahead and plug this into any ai app…Halifax2TheMax said:
* The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.Lerxst1992 said:I guess we post only when there’s no employer to screw over business hours perhaps . AI knows without anyone telling it there are 12 mos in a year. And again, ai can do it quicker than any of your self written posts, if youre worried about missing out on Sunday. Monday will be here soon enough, no worries.
The numbers stand on their own. They are calculated facts. Stop obfuscating.
And cant resist the constant mocking ?Got a stock tip or two? My millennial neighbor kids that still live at home need some financial advice. Or do they just AI?
Your math is fuzzy. I used a Zillow mortgage calculator to crunch the numbers from Hugh’s example and there was no hundred of thousands savings or whatever it is you’re claiming. Fuzzy math.GO JAYS!
” What are the total mortgage payments for a 40 year loan on a $420,000, at both 6.5 and 12%”
they will do the calculations slightly different but in every case, the lower interest rates of today v 40 years ago lead the hundreds of thousands of dollars in reduced cost over the life of the mortgage. We could try present value next, once we establish a common frame of reference.
and if it’s really about some faux disbelief of ai, on calculator dot net the payments for 6.5 and 12% respectively
$4320 vs $2655
Over a 40 year mortgage is that not $800,000? That’s per calculator dot net.
and the math gets far worse for Mamdani/gen z supporters, because if using a 401k to build wealth and buy a home thru a loan after ten years, there are also tax and employer match implications that impact the math in a huge manner for the smart investor.AiWith a $80,000 home loan, a 12% fixed interest rate, and a 30-year term, your total payments would be$395,093.45, which includes $315,093.45 in interest. The amount is calculated based on the principal and interest only and does not include property taxes, insurance, and other fees.The actual cost of a $420,000 home with a 6% interest rate on a 30-year fixed mortgage is$906,519.60.Step 1: Calculate the monthly mortgage paymentFirst, you need to calculate the monthly payment using the mortgage formula:M=Pi(1+i)N(1+i)N−1Where:- = monthly paymentM
- = principal loan amount = $420,000P
- = monthly interest rate =i6%/12=0.5%=0.005
- = total number of payments =N30years×12months/year=360
Plugging in the values:M=4200000.005(1+0.005)360(1+0.005)360−1Solving this equation gives a monthly payment of approximately $2,518.11.Step 2: Calculate the total costTo find the total cost of the home, multiply the monthly payment by the total number of payments.Total Cost=Monthly Payment×Total Number of PaymentsTotal Cost=2518.11×360Total Cost=906519.60Answer:The total cost of a $420,000 home with a 6% interest rate over 30 years is approximately $906,519.60.That’s more than I have spent on Starbucks and subscriptions in my life. A million for a starter home. Boy the millennials and younger have it so good.So we pretty much agree…future value of your loan repayment of 1985 mortgage (midpoint) to today’s dollars. Need to compare apples to apples. $395,000 thirty years ago in your example is worth $958,000 in today’s dollars.
My point was to show that the expense of homeownership back in 1980s was embedded in the interest rates. I never said someone go buy a $420k starter home in 1985.
” Assuming a consistent annual \bm{3\%} inflation rate, the value of \bm{\$395,000} in \bm{1995} would be equivalent to approximately \bm{\$958,768.68} in \bm{2025} dollars.”
(The future value is approximately $958,769.78.)
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static111 said:
I'll buy for 168k!brianlux said:I've got a bridge for sale. Anyone interested?SOLD!I hope you read in the fine print where it says, "Purchaser of said bridge is responsible for all costs of removal and transportation of bridge, on-ramps, and piers, as well as all applicable city, county, state, and federal taxes."Seeing as the government is shut down, you might be in luck regarding the federal taxes.
"It's a sad and beautiful world"-Roberto Benigni0 -
Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.0 -
Get_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.Don’t tell them about the enormous benefits of investing and compounding, as well as other powerful tax tools like retirement contributions and other tools like employer matches and retirement plan loans available for home purchasing.And that you need to account for interest rates when you calculate the true cost of housing, when younger generations believe they are the first to experience these challenges. It’s all too funny to them. They’d rather AOC or mamdani bring socialism here to tuck them in at night and make them comfy.0 -
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.Remember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.* The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.
Without AI, how would you know this?09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR; 05/03/2025, New Orleans, LA;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.0 -
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
My point being that it's not the "last great tax deduction"Remember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
EDIT: It is a royal pain to do, but we save thousands.Post edited by Get_Right on0 -
LOL...I prepare about 1000 tax returns a year. Lots of people have mortgages that take the standard deduction because it is MORE than itemizing. It doesn't take a good accountant to see that.Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
More people will itemize for tax year 2025 because they lifted the $10K limit on SALT.Remember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
EDIT: It is a royal pain to do, but we save thousands.
For those over 50 deferring compensation into a retirement plan could put over $10,000 in your pocket.well your investment account. And you don't need to hire an accountant0 -
Gern Blansten said:
LOL...I prepare about 1000 tax returns a year. Lots of people have mortgages that take the standard deduction because it is MORE than itemizing. It doesn't take a good accountant to see that.Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
More people will itemize for tax year 2025 because they lifted the $10K limit on SALT.
I actually know what SALT means. Itemizing has always been better for us since we had kids. Before then we took the standard deduction and mailed it in.0 -
Having kids has nothing to do with itemizing. You itemize when your deductions (mortgage interest, SALT, contributions, etc. ) exceed the standard deduction.Get_Right said:Gern Blansten said:
LOL...I prepare about 1000 tax returns a year. Lots of people have mortgages that take the standard deduction because it is MORE than itemizing. It doesn't take a good accountant to see that.Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
More people will itemize for tax year 2025 because they lifted the $10K limit on SALT.
I actually know what SALT means. Itemizing has always been better for us since we had kids. Before then we took the standard deduction and mailed it in.
Remember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
And to the mortgage point, you are right. First five years are a bounty, then the law of diminishing returns kicks in.0
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Gern Blansten said:
Having kids has nothing to do with itemizing. You itemize when your deductions (mortgage interest, SALT, contributions, etc. ) exceed the standard deduction.Get_Right said:Gern Blansten said:
LOL...I prepare about 1000 tax returns a year. Lots of people have mortgages that take the standard deduction because it is MORE than itemizing. It doesn't take a good accountant to see that.Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
More people will itemize for tax year 2025 because they lifted the $10K limit on SALT.
I actually know what SALT means. Itemizing has always been better for us since we had kids. Before then we took the standard deduction and mailed it in.
But it does. Child care credit, unreimbursed medical etc. Yes, there are limits but we claim it all.0 -
Lerxst1992 said:Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
EDIT: It is a royal pain to do, but we save thousands.
For those over 50 deferring compensation into a retirement plan could put over $10,000 in your pocket.well your investment account. And you don't need to hire an accountant
I always made more taking the cash in hand, but I do have a pension that is just sleeping. Never earned more than 3%. But it is a good problem to have.0 -
no man....child care credit is a credit, has nothing to do with itemizingGet_Right said:Gern Blansten said:
Having kids has nothing to do with itemizing. You itemize when your deductions (mortgage interest, SALT, contributions, etc. ) exceed the standard deduction.Get_Right said:Gern Blansten said:
LOL...I prepare about 1000 tax returns a year. Lots of people have mortgages that take the standard deduction because it is MORE than itemizing. It doesn't take a good accountant to see that.Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
More people will itemize for tax year 2025 because they lifted the $10K limit on SALT.
I actually know what SALT means. Itemizing has always been better for us since we had kids. Before then we took the standard deduction and mailed it in.
But it does. Child care credit, unreimbursed medical etc. Yes, there are limits but we claim it all.
out of pocket medical probably isn't deductible unless you have a massive amount of itRemember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
Gern Blansten said:
no man....child care credit is a credit, has nothing to do with itemizingGet_Right said:Gern Blansten said:
Having kids has nothing to do with itemizing. You itemize when your deductions (mortgage interest, SALT, contributions, etc. ) exceed the standard deduction.Get_Right said:Gern Blansten said:
LOL...I prepare about 1000 tax returns a year. Lots of people have mortgages that take the standard deduction because it is MORE than itemizing. It doesn't take a good accountant to see that.Get_Right said:Gern Blansten said:
Lots of people have mortgages that don't itemize because the standard deduction is higher...why take less deduction just because you have a mortgage?Get_Right said:Gern Blansten said:
It's deductible if you itemize....and only interest on up to $750K in mortgage debt is deductibleGet_Right said:Good news, mortgage interest is still tax deductible. The last great tax deduction. And add 10% per year for all of the things you will need to fix. Sorry if I missed the tax benefit and the extra costs of being a homeowner in those calculations. For us it was simple, paying rent is money out the window. 20 years later, we have something to show for it. I do not need a math equation to add that up.
Hey, sorry if you cannot afford to live in Austin, NYC, Marin county, Atlanta, or Charlotte. Supply and demand.
Well if you have a mortgage and do not itemize, that's on you and your accountant. If your mortgage is over 750K, then I would guess you are looking for other tax relief. Maybe depreciation on your boat.
For us the standard deduction has never come close to itemizing. Get a good accountant. You will pay less every time.
More people will itemize for tax year 2025 because they lifted the $10K limit on SALT.
I actually know what SALT means. Itemizing has always been better for us since we had kids. Before then we took the standard deduction and mailed it in.
But it does. Child care credit, unreimbursed medical etc. Yes, there are limits but we claim it all.
out of pocket medical probably isn't deductible unless you have a massive amount of it
We have always saved by itemizing. Big time. It is a pain but we save big dollars.0
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