I don't think Sam's interrupting is a problem. Let the man cook.
On the SALT tax, Tim implied it was of little impact unless you were a couple in NY making 450k+. Not so. It includes property taxes and school taxes which are both very high in NYS. Post-COVID the housing market has shifted dramatically. I live in a 1600 sqf…
I don't think Sam's interrupting is a problem. Let the man cook.
On the SALT tax, Tim implied it was of little impact unless you were a couple in NY making 450k+. Not so. It includes property taxes and school taxes which are both very high in NYS. Post-COVID the housing market has shifted dramatically. I live in a 1600 sqft house that was purchased for 165k in 2018. Because of the boost in prices the last 5 years it's now assessed at 400k. And the tax rate is still the same 3.7%. So right out of the gate you can be unemployed and still owe almost 15k a year. Then another 6% of state income tax. The SALT cap is a lot of money people end up getting double taxed on.
Ok two things:
I don't think Sam's interrupting is a problem. Let the man cook.
On the SALT tax, Tim implied it was of little impact unless you were a couple in NY making 450k+. Not so. It includes property taxes and school taxes which are both very high in NYS. Post-COVID the housing market has shifted dramatically. I live in a 1600 sqft house that was purchased for 165k in 2018. Because of the boost in prices the last 5 years it's now assessed at 400k. And the tax rate is still the same 3.7%. So right out of the gate you can be unemployed and still owe almost 15k a year. Then another 6% of state income tax. The SALT cap is a lot of money people end up getting double taxed on.
not a math major but with a 20k salt deduction you would be covered. They wanted to push it up to 40k
Ah I thought they wanted to leave it at 10k, apologies!