What's new
US Message Board 🦅 Political Discussion Forum

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Dr Oz scored a $50,000 annual tax break on his $3.1 million Montco manor

basquebromance

Diamond Member
Joined
Nov 26, 2015
Messages
91,562
Reaction score
20,890
Points
2,220
When Mehmet Oz bought a bucolic farmhouse in Montgomery County last year, he not only acquired property in the state where he’s running for Senate, but he also scored a $50,000-a-year tax break.

 

1srelluc

Diamond Member
Joined
Nov 21, 2021
Messages
14,302
Reaction score
19,392
Points
2,268
Location
Shenandoah Valley of Virginia
Good for him. :)

Why do you hate farmland?
 

Dekster

Gold Member
Joined
Dec 11, 2014
Messages
13,385
Reaction score
5,225
Points
345
When Mehmet Oz bought a bucolic farmhouse in Montgomery County last year, he not only acquired property in the state where he’s running for Senate, but he also scored a $50,000-a-year tax break.


Would you rather he timber the property to pay his taxes? The property has been under the program for decades before he bought it. It is no different than the old soil bank payments to gentlemen farmers, assessing agricultural land at a lower rate, giving disabled vets a shield from any property taxes, etc that places all across the country do.
 

ReinyDays

Gold Member
Joined
Oct 5, 2019
Messages
8,534
Reaction score
4,160
Points
210
Location
State of Jefferson
Paywall ... can you tell us which provision in the tax code allows for this 1.6% tax "break" ... and is this a deduction, depreciation or a tax credit? ...

If this farmhouse is on an actual productive farm ... then Mr Oz should be getting 3.6% business deduction for the depreciation on that $3.1m business investment ... which is closer to $110k off his taxes every year for the next 27.5 years ...

THAT'S a tax break ALL of us can use ... see IRS form 4562 and instructions ...
 

Polishprince

Diamond Member
Joined
Jun 8, 2016
Messages
37,846
Reaction score
25,039
Points
1,915
just reporting the facts so that the good folks in Pennsylvania ensure he loses by a 20 point landslide!

Us Pennsylvanians don't have a problem with that.

Particularly as Doc Oz's opponent is a real loser who lived off a $54000 allowance provided by his parents until he was in his mid 40's.

Personally I'm glad to see a successful adult like Oz running against Stroke Boy.
 

Papageorgio

The Ultimate Winner
Joined
May 18, 2010
Messages
56,464
Reaction score
15,403
Points
2,220
Location
PNW
just reporting the facts so that the good folks in Pennsylvania ensure he loses by a 20 point landslide!
So you don’t take any tax breaks allowed by law? You are pretty stupid then.
 
OP
basquebromance

basquebromance

Diamond Member
Joined
Nov 26, 2015
Messages
91,562
Reaction score
20,890
Points
2,220
So you don’t take any tax breaks allowed by law? You are pretty stupid then.
i let others handle my taxes, i'm sure they do the right thing for me, i trust them...this is about Dr Oz not personal attacks
 

Papageorgio

The Ultimate Winner
Joined
May 18, 2010
Messages
56,464
Reaction score
15,403
Points
2,220
Location
PNW
i let others handle my taxes, i'm sure they do the right thing for me, i trust them...this is about Dr Oz not personal attacks
You are attacking Oz for taking a legal and legitimate tax break. So, if you take legitimate tax breaks, you are a hypocrite. That is the point.

You get pissed if Oz does what you do? Why is he not allowed to take tax breaks like you do?
 

rightwinger

Award Winning USMB Paid Messageboard Poster
Joined
Aug 4, 2009
Messages
250,717
Reaction score
71,597
Points
2,190
Most states have similar programs for preserving farmland.
In NJ you need $500 in farm sales to qualify as farmland
 
OP
basquebromance

basquebromance

Diamond Member
Joined
Nov 26, 2015
Messages
91,562
Reaction score
20,890
Points
2,220
You are attacking Oz for taking a legal and legitimate tax break. So, if you take legitimate tax breaks, you are a hypocrite. That is the point.

You get pissed if Oz does what you do? Why is he not allowed to take tax breaks like you do?
he's a politician, i'm a loser douche internet troll, but a handsome one
 

ReinyDays

Gold Member
Joined
Oct 5, 2019
Messages
8,534
Reaction score
4,160
Points
210
Location
State of Jefferson
i let others handle my taxes, i'm sure they do the right thing for me, i trust them...this is about Dr Oz not personal attacks

Maybe you should let other people start threads about taxes then ... we not attacking you, we're attacking what you said about taxes ... you're not stupid, your comments about taxes are stupid ... and here you admit letting others do your taxes ...

May I also comment on how BIG of a mistake your making? ... other people don't care about you, they're not going to dig deep into tax code finding you breaks ... CPAs make mistakes, why we have auditing firms ... if you finished Middle School, then you're smart enough to fill out your own forms ...
 

beautress

Always Faithful
Joined
Sep 28, 2018
Messages
24,048
Reaction score
15,947
Points
1,445
Location
Walker County, TX
When Mehmet Oz bought a bucolic farmhouse in Montgomery County last year, he not only acquired property in the state where he’s running for Senate, but he also scored a $50,000-a-year tax break.

When Dr. Oz becomes a senior citizen over the age of 65, it's only fair to stop taxing seniors. He should pay no tax whatever when he turns 65. It's the right thing to do.
 
OP
basquebromance

basquebromance

Diamond Member
Joined
Nov 26, 2015
Messages
91,562
Reaction score
20,890
Points
2,220
i apologize...this is a terrible smear...i shouldn't have done it...you may close the thread

happy now?
 

Papageorgio

The Ultimate Winner
Joined
May 18, 2010
Messages
56,464
Reaction score
15,403
Points
2,220
Location
PNW
he's a politician, i'm a loser douche internet troll, but a handsome one
You believe that politicians should be able to take tax breaks the government allows? That makes you a hypocrite.
I have no issue with anyone taking legal tax breaks the government allows and Oz has shown how wise he is with money for doing so.

I am more likely to vote for him than a person that is obliviou as to make money work for you.
 

22lcidw

Diamond Member
Joined
Dec 25, 2018
Messages
31,979
Reaction score
13,665
Points
1,585
Most states have similar programs for preserving farmland.
In NJ you need $500 in farm sales to qualify as farmland
Fetterman is a basement living person. He looks like a killer of the enemy. And he is the enemy who would spread his ass cheeks for insertion when the protection is gone.
 

ReinyDays

Gold Member
Joined
Oct 5, 2019
Messages
8,534
Reaction score
4,160
Points
210
Location
State of Jefferson
Most states have similar programs for preserving farmland.
In NJ you need $500 in farm sales to qualify as farmland

Oregon simply passed a law that says we can't build housing on farmland ... 60 acre minimum lot size and a gross income requirement in agricultural production for any building permits of any kind ... and it's State jurisdiction, so developers can't just buy off county commissioners ...
 

USMB Server Goals

Total amount
$180.00
Goal
$350.00

Most reactions - Past 7 days

Forum List

Top