Retirees must love Biden

[Rigby5]

As our prices increase for goods and services we landlords have no choice but to increase rents to make up the loss. Then there is a fact that many who can't own a home look for shelter in rental property creating your typical supply and demand situation.

I've been a landlord for close to 30 years. I come from a family of landlords. In all that time I've never seen the rental market this high in demand.

I have been a landlord for over 50 years.
But haven't you notice how unfair it is?
All I have to do is come up with the credit rating, and then the tenants buy the house for me.
I might have to throw in a little extra for the first couple of years, but soon rent go up enough so I don't have to pay a cent, and they eventually are not only paying the monthly mortgage, but giving me extra.

 

[Big Bend Texas]

I have been a landlord for over 50 years.
But haven't you notice how unfair it is?
All I have to do is come up with the credit rating, and then the tenants buy the house for me.
I might have to throw in a little extra for the first couple of years, but soon rent go up enough so I don't have to pay a cent, and they eventually are not only paying the monthly mortgage, but giving me extra.

And the guy who owns a hardware store gets to deduct what he's paying for his supplies at 100% each month.

Big deal.

 

[Rigby5]

Just curious, have you been talking out of your ass for all fifty years?

Both get the deduction for interest.

Landlords get deductions on the income earned from rentals for maintenance etc just like any other business does.

I SAID that both get the deduction for mortgage interest.
If you had actually read what I wrote, you would have known that.

But what I said is that the mortgage interest deduction is hardly any use to a low income average person, and it does not even pay for them to itemize. That is because their tax liability is not even large enough to take much advantage of it.

And THEN what I pointed out is that a regular home owner is not allowed to write off repairs, improvements, maintenance, OR the big one, depreciation.

 

[Big Bend Texas]

I SAID that both get the deduction for mortgage interest.
If you had actually read what I wrote, you would have known that.

But what I said is that the mortgage interest deduction is hardly any use to a low income average person, and it does not even pay for them to itemize. That is because their tax liability is not even large enough to take much advantage of it.

And THEN what I pointed out is that a regular home owner is not allowed to write off repairs, improvements, maintenance, OR the big one, depreciation.

Repeating it won't make it true.

Regular homeowners aren't running a for profit business by buying homes to live in.

Land Lords get basically the same tax benefits from their properties that any other business operator gets.

 

[AzogtheDefiler]

None of those things are caused by the president of any party.

BTW SS is getting a big bump this year.

So, eat shit donny.

None? Lol

 

[AzogtheDefiler]

Since over 65% of our taxes go to an illegal and abusive military, it is hardly to be considered "civilized society".

65%? Link please

 

[Rigby5]

And the guy who owns a hardware store gets to deduct what he's paying for his supplies at 100% each month.

Big deal.

So you still have not learned a thing?
If you do not under stand depreciation allowance, then clearly you have never been a landlord.
If you use an accelerated depreciation schedule, you can write of as much as 17% of the cost of the property, in the first year.
Which is way more than you likely will make off of it.
Regardless of which depreciation schedule, you can fully depreciate a property in 27.5 years, which is ridiculous because properties almost always go up in value, and almost
And home owners can't write off any repairs, maintenance, remodeling, etc., that landlords can.

 

[Big Bend Texas]

65%? Link please

There isn't one because it is a lie.

Federal Spending: Where Does the Money Go

In fiscal year 2014, the federal government will spend around $3.8 trillion. These trillions of dollars make up a considerable chunk - around 22 percent - of the US. economy, as measured by Gross Domestic Product (GDP). That means that federal government spending makes up a sizable share of all...

www.nationalpriorities.org

 

[Big Bend Texas]

So you still have not learned a thing?
If you do not under stand depreciation allowance, then clearly you have never been a landlord.
If you use an accelerated depreciation schedule, you can write of as much as 17% of the cost of the property, in the first year.
Which is way more than you likely will make off of it.
Regardless of which depreciation schedule, you can fully depreciate a property in 27.5 years, which is ridiculous because properties almost always go up in value, and almost
And home owners can't write off any repairs, maintenance, remodeling, etc., that landlords can.

You are still talking out of your ass.

How to Calculate Rental Property Depreciation

Real estate depreciation on rental property can lower your taxable income, but determining it can be complex. Find out how it works and can save you money at tax time.

www.investopedia.com

If/when that property sells you also have to pay taxes on the appreciation in value over your initial purchase price.

How to Calculate Capital Gains Tax on Rental Property

Knowing how to calculate capital gains tax on rental property is essential when you're selling it. Learn the correct calculation method here.

www.propertydo.com

The basis by which your depreciation is calculated is directly affected by any appreciation in property value.

 

[Leo123]

5.9 percent Cost of Living Adjustment
Projected 8 percent next year

Record Real Estate prices

5.9% of basically nothing is still nothing. A bloated RE market is no bargain. The government giveth and the government taketh away.

 

[Rigby5]

65%? Link please

The important thing when you want to look at federal spending, is if the pie chart has Social Security or interest on the national debt, then it is a fake pie chart, and you keep looking.
That is because SS is self funding, and interest on the debt if mandatory, not discretionary, so you not be listed.

While that does not look like 65%. the reality is that a lot of social services is actually military spending for the VA, a lot of education spending is actually for ROTC and GIBill, etc.

 

[Big Bend Texas]

5.9% of basically nothing is still nothing. A bloated RE market is no bargain. The government giveth and the government taketh away.

The bloating of the real estate market is two fold, inflation and flooding the country with illegals who need housing.

 

[Big Bend Texas]

The important thing when you want to look at federal spending, is if the pie chart has Social Security or interest on the national debt, then it is a fake pie chart, and you keep looking.
That is because SS is self funding, and interest on the debt if mandatory, not discretionary, so you not be listed.

While that does not look like 65%. the reality is that a lot of social services is actually military spending for the VA, a lot of education spending is actually for ROTC and GIBill, etc.

Republicans are not blaming food stamps for the deficit, just another lie.

 

[Big Bend Texas]

The important thing when you want to look at federal spending, is if the pie chart has Social Security or interest on the national debt, then it is a fake pie chart, and you keep looking.
That is because SS is self funding, and interest on the debt if mandatory, not discretionary, so you not be listed.

While that does not look like 65%. the reality is that a lot of social services is actually military spending for the VA, a lot of education spending is actually for ROTC and GIBill, etc.

Provide a source for your "chart".

 

[Rigby5]

You are still talking out of your ass.

How to Calculate Rental Property Depreciation

Real estate depreciation on rental property can lower your taxable income, but determining it can be complex. Find out how it works and can save you money at tax time.

www.investopedia.com

If/when that property sells you also have to pay taxes on the appreciation in value over your initial purchase price.

How to Calculate Capital Gains Tax on Rental Property

Knowing how to calculate capital gains tax on rental property is essential when you're selling it. Learn the correct calculation method here.

www.propertydo.com

The basis by which your depreciation is calculated is directly affected by any appreciation in property value.

WRONG.
When you sell a property for more than you paid for it, that is capital gains, NOT appreciation.
There is no such thing as an appreciation schedule.

And NO, your depreciation schedule is NOT at all in any way affected by the appreciation in property value.
It is calculated ahead of time, depending on what type of depreciation schedule you use, and all yearly depreciations are known at that time. If you take the purchase value and divide that by 27.5 for a straight depreciation schedule, it does not at all matter what the house is actually worth at any year. That is because it is to recoup the investment, and is NOT at all based on what the property is actually worth.
You clearly are not a landlord and have never been one.
So please stop posting nonsense an contradicting known fact.

 

[Rigby5]

Republicans are not blaming food stamps for the deficit, just another lie.

WHAT ARE YOU TALKING ABOUT?
No one mentioned food stamps or political parties.
I am blaming defense spending for the deficit.
Do you disagree or not?

 

[Big Bend Texas]

WRONG.
When you sell a property for more than you paid for it, that is capital gains, NOT appreciation.
There is no such thing as an appreciation schedule.

And NO, your depreciation schedule is NOT at all in any way affected by the appreciation in property value.
It is calculated ahead of time, depending on what type of depreciation schedule you use, and all yearly depreciations are known at that time. If you take the purchase value and divide that by 27.5 for a straight depreciation schedule, it does not at all matter what the house is actually worth at any year. That is because it is to recoup the investment, and is NOT at all based on what the property is actually worth.
You clearly are not a landlord and have never been one.
So please stop posting nonsense an contradicting known fact.

Appreciation is the increase in value over what you originally paid for it, that is how you get your adjusted basis for calculating depreciation as I showed.

You will still pay taxes either under capital gains or as income or both depending on the length of time you've owned a property at the time of sale.

Stop talking out of your ass.

 

[Big Bend Texas]

WHAT ARE YOU TALKING ABOUT?
No one mentioned food stamps or political parties.
I am blaming defense spending for the deficit.
Do you disagree or not?

Read the wording on the chart you posted idiot.

Provide a link to the source.

 

[Rigby5]

Provide a source for your "chart".

Pay me for your stupid posts that are a waste of time.
Everyone knows defense spending is always the majority of the discretionary budget.

 

[Big Bend Texas]

Pay me for your stupid posts that are a waste of time.
Everyone knows defense spending is always the majority of the discretionary budget.

"Discretionary".

You really thought nobody would notice you now changing the bar?

You said it made up 65% of the budget.

You still need to supply a link to the source for your chart. Otherwise for all we know you pulled it out of your ass and can't support it.