Trump's tax cut proposal

cawacko said:
Please enlighten me, why is that?
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I paid off my mortgage in just over half of it's term (17/30) saving hundreds of thousands in interest.
How is your prepayment going?
You will be 20 years older than me when you own it.
Right now all you own is massive debt.
 
Rune said:
I paid off my mortgage in just over half of it's term (17/30) saving hundreds of thousands in interest.
How is your prepayment going?
You will be 20 years older than me when you own it.
Right now all you own is massive debt.
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I put 20% down to buy and my property has doubled in value.
 
Rune said:
How is wonderful property tax bill?LOL

About 10k unless you are lying about the "value".

Fool
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We have Prop 13 so tax bill is just fine.

Yes I'm a fool for buying a property that doubled in value in less than ten years. I suppose paying the $7K/mnth in rent instead for the same place would have been wiser Mr. Financial Savant?
 
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Sailor said:
Rune is talking about commercial fishing vessels. He does have commercial fishing vessels. I think he is actually a little low on the replacement cost. Just pointing that out.
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I didn't mean new replacement cost.
If that were the case it would indeed cost more than 'Wacko's condo, to say nothing of the permits.
 
cawacko said:
We have Prop 13 so tax bill is just fine.

Yes I'm a fool for buying a property that doubled in value in less than ten years. I suppose paying the $7K/mnth in rent instead for the same place would have been wiser Mr. Financial Savant?
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Are you claiming your property tax is low?
 
Sailor said:
Rune is talking about commercial fishing vessels. He does have commercial fishing vessels. I think he is actually a little low on the replacement cost. Just pointing that out.
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the repair costs are probably a bit higher than the replacement costs.......is the name of his boat Barnacle Bait?.......
 
Sailor said:
Rune is talking about commercial fishing vessels. He does have commercial fishing vessels. I think he is actually a little low on the replacement cost. Just pointing that out.
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Pardon my ignorance here but do commercial vessels appreciate over time or are they like cars that depreciate once you drive them off the lot?
 
Ok Rune, so I bought my condo for under a mil. Today it is probably worth one and a half. Of course I get the benefits of tax write offs that come with it.

But according to you I'm stupid for that. I should spend $7K/mnth for rent, with no write-offs, and do what with the remainder of the money?
 
cawacko said:
Pardon my ignorance here but do commercial vessels appreciate over time or are they like cars that depreciate once you drive them off the lot?
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Good question. That really depends on the type vessel, permits you have, how well she is kept up and most importantly how seaworthy she is. Once she is a legend (known as a fishkiller and and always get you home boat no matter the weather) the value increases. A lot.
You can see how quickly it can go the other way if any of those traits are the other way. I imagine it is something like real estate in a way.
 
Rune, I said read about Prop 13. I don't pay property taxes based on today's market value.

Nor did you address what I should have done with my money other than buy a home
 
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