I'm bofem. A poor working stiff.Quote:
Originally Posted by AR_ART
Still pretty much sucks.................[Beer]
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I'm bofem. A poor working stiff.Quote:
Originally Posted by AR_ART
Still pretty much sucks.................[Beer]
You'd probably make more money without a job, given all the various programs out there to enable you to spend the money that I work for (that's a collective "I," not actually talking about me, I've been unemployed looking for a job for months and haven't even considered applying for unemployment checks or food stamps or any of that crap)Quote:
Originally Posted by AR_ART
This one just smelled from the get go so I went to Snopes.
http://www.snopes.com/politics/taxes/realestate.asp
Quote:
This is a complicated section of a complicated piece of legislation, and the 3.8% Medicare tax has been frequently misreported as amounting to a 3.8% "sales tax" on all real estate transactions. This is incorrect: the Medicare tax is not a sales tax, nor does it apply to all real estate transactions; it is a tax on investment income (income which may or not derive from the sale of property) for persons who earn more than the amounts specified in the bill: As Sara Orrange, Government affairs director of the Spokane Association of Realtors noted in http://www.spokesman.com/stories/2010/apr/03/home-sales-tax-clarified/ to a repetition of the "sales tax" rumor in the Spokane Spokesman-Review:
In his recent guest column regarding the impact of the health care bill, Paul Guppy of the Washington Policy Center claimed that a 3.8 percent tax on all home sales was a part of the recently passed legislation. This is inaccurate and needs to be corrected. The truth about the bill is that if you sell your home for a profit above the capital gains threshold of $250,000 per individual or $500,000 per couple then you would be required to pay the additional 3.8 percent tax on any gain realized over this threshold.
Most people who sell their homes will not be impacted by these new regulations. This is not a new tax on every seller, and that correction needs to be made. This tax is aimed at so-called "high earners"; if you do not fall into that category you will not pay any extra taxes upon the sale of your home.
(In other words, a couple who sold their home would be subject to the 3.8% tax only if they made a profit of at least $500,000 on the sale, and the tax would apply only to the portion of that profit in excess of $500,000.)
The referenced tax is therefore not a tax on all real estate sales; it is an investment income tax which <U>could</U> result in a very small percentage of home sellers paying additional taxes on home sales profits over a designated threshold amount. In short, if you're a "high earner" and you sell your home at a substantial profit, you might be required to pay an additional 3.8% tax. However, given that the existing home sale capital gains exclusion on a principal residence ($250,000 allowable gain for individuals, or $500,000 for couples)
Don't worry, its just some "redistribution".
Nothing to see here, please keep moving...............
while I do not agree with Much of what Obama has done/will do. I dont think saddling him with an inaccuracy is helpful to anyone.
Yes, you would pay the 15 grand in taxes on your home sale... if you made a 900K profit on it.
Quote:
a couple who sold their home would be subject to the 3.8% tax only if they made a profit of at least $500,000 on the sale, and the tax would apply only to the portion of that profit in excess of $500,000.
What's with all the legislation to keep people from making money?
Because we should all be the same, have the same, make the same, live the same, ya know like liberals. or welfare peeps.
Your not a very smart guy if truly believe this. Ignorant comes to mind too. I have never bashed anyone on a forum but.... Sounds like you have been brain washed by the liberal media. Quit watching Oprah!!!!!!Quote:
Originally Posted by Ridge
doesn't matter, rapture is tomorrow. we won't even know it![ROFL1]
Quote:
Originally Posted by 4gunfun
Ohh hold the fuck up yo...
I know you ain't bashing on my Girl Oprah!
[ROFL1]