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

[basquebromance]

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.

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

The tax incentive is part of a controversial state program designed to encourage the preservation of farm or forestland that overwhelmingly benefits wealthy landowners such as Oz.

www.inquirer.com

 

[1srelluc]

Good for him.

Why do you hate farmland?

 

[basquebromance]

Good for him.

Why do you hate farmland?

just reporting the facts so that the good folks in Pennsylvania ensure he loses by a 20 point landslide!

 

[Dekster]

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.

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

The tax incentive is part of a controversial state program designed to encourage the preservation of farm or forestland that overwhelmingly benefits wealthy landowners such as Oz.

www.inquirer.com

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]

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]

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]

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.

 

[basquebromance]

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]

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]

Most states have similar programs for preserving farmland.
In NJ you need $500 in farm sales to qualify as farmland

 

[basquebromance]

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]

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]

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.

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

The tax incentive is part of a controversial state program designed to encourage the preservation of farm or forestland that overwhelmingly benefits wealthy landowners such as Oz.

www.inquirer.com

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.

 

[1srelluc]

just reporting the facts so that the good folks in Pennsylvania ensure he loses by a 20 point landslide!

I think you are barking up the wrong tree.

 

[basquebromance]

i apologize...this is a terrible smear...i shouldn't have done it...you may close the thread

happy now?

 

[Papageorgio]

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.

 

[Ralph Norton]

he's a politician, i'm a loser douche internet troll, but a handsome one

We are all loser douche internet trolls.

 

[basquebromance]

We are all loser douche internet trolls.

but not all are handsome lol

 

[22lcidw]

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]

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 ...