Real Money wrote: Pull out the home you live in as an asset.
Um, OK. Except a paid off house IS an asset.
Real Money wrote: Pull out the home you live in as an asset.
Um, OK. Except a paid off house IS an asset.
No Way wrote:
unclesams property wrote:Wife and I combined for 150 with similar salaries.
We figured that between income, property, and sales taxes one of us works the entire year to pay taxes.
And they wonder why we are so discouraged.
You pay 75k a year in taxes? You know that you can deduct the property tax for your home, right?
I make around 60. My wife makes around 90.
Yes, I work the entire year to pay 60k in taxes. That is what I'm left to think of each day when I head to work. I work to give my money away.
Do the math with your own tax exposure. It's not just income tax. It's property taxes, sales taxes, tolls, etc. I own a small company. I have to pay several different types of taxes just for the right to exist whether or not my company makes money.
ssss wrote:
At least 2 more years but likely 5 years in the 60-70 before the big jump to 300-500k.
lol