The Old Folks Home

[bruceha2000]

Yep, the standard deduction basically doubled and IIRC they have capped deductions for property taxes at 10K. Haven't started my taxes yet, I'm sure it will be even more of a pain than usual. How do they decide how much your house is worth and how does that affect your taxes? I can't imagine Trump would sign something that would increase his taxes. His many homes are all worth more than 750K.

The kids love Ripley that's how she got loose.

Similar ice issues here this morning. Couldn't get up the hill to do chores had to slowly crawl up the unshoveled part and pray not to die.

It warmed up and bf spent the morning treating it so it's much better. Just in time for more ice tonight into tomorrow.

Aha! The kids let her off her leash!

I'd swear we were next door neighbors based on the ice trials and tribulations SGC, but I know you are about 300 miles away.

 

[superchemicalgirl]

So turbo tax asked me all kinds of personal questions about my mortgage, including stuff that wasn't on my 1098, which was fun to dig up because I burn my statements and don't have an online account.
They asked the address, when the loan was originally taken out, whether it was original, refinanced and whether I've ever taken money out of my equity. They also asked what my loan balance was as of 12.31.2018 but for some reason my 1098 lists the amount at 01.01.2018.
I guess that's how they make a determination?

 

[superchemicalgirl]

Oh and to efile this year I had to provide information off my drivers license, which was new for me.

 

[Alaskan]

Bloodhounds are not recommended to be off leash - they will find a scent and follow it and many get lost or run over this way. So unfortunately I don't want to trust that the kids are more interesting than a scent.


I have a public service announcement for those who haven't done their taxes yet: it's a real treat. Apparently in December 2017 there was a new tax law that significantly reduces deductions.

The things I've read on the tax law make it seem like you'll be fine if you're a normal human being and your house is less than 750k (my apologies to anyone normal who has a house worth more than that) but I am nowhere near that figure and I was not allowed to deduct most of my mortgage interest.

scg, Dh said the same thing about not being able to deduct the mortgage interest. There is a "household" deduction too, but no per-person deduction. Doesn't matter if you have 1 or 20 kids, the deduction is a flat rate amount.

Update: 7 are out. #8 is almost out.

I tend to do those last minute .

We REALLY depend on getting a refund to help us get through the summer (spouse has a 9 month salary... and yeah we save... but not as much as we should...because by gum I am NOT doing 100% rice, beans, and potatoes!)

Last couple of years have been tough... insurance has shot up, then Alaska stole our permanent fund dividend check...and I count on that to pay the property taxes..

Whatever. .

I am feeling grumpy

Whine, whine, whine

 

[getaclue]

If you have a good bit of land, plant it in trees. Be smart. Do a 5 year plan. Plant so that each year you can have it timbered, and get enough to pay property taxes, and maybe a little more. There are some trees that are very valuable, but they take a long time to grow. IF you plan on leaving your property to your children, plant a few of those expensive trees. I've heard of people doing that, and just a few of certain types of trees, grown to the right age, were worth a small fortune.

 

[Alaskan]

Nah... I live in Alaska... we have a bunch of places where you can harvest trees for free... and there are also lots of beetle killed trees to harvest...


There is very little private land up here, most is public.

So no money in that.

And the kinds of trees I can grow on my place are limited to spruce... and if I baby them birch..... I am at a high elevation.

Not a single hardwood that would grow at my place... unless I bonsai it and keep it in my kitchen.

 

[Alaskan]

Oh... I HAVE heard of that being good business plan in the lower 48.

 

[bruceha2000]

So turbo tax asked me all kinds of personal questions about my mortgage, including stuff that wasn't on my 1098, which was fun to dig up because I burn my statements and don't have an online account.
They asked the address, when the loan was originally taken out, whether it was original, refinanced and whether I've ever taken money out of my equity. They also asked what my loan balance was as of 12.31.2018 but for some reason my 1098 lists the amount at 01.01.2018.
I guess that's how they make a determination?

And we were told that this new tax 'plan' would make our taxes easier to file. Liars. At least we do have the original loan papers. Wonder what they do if you don't have a mortgage. Sounds like they aren't interested in how much the property is worth but how much the original mortgage is. I think the prior law you could write off up to $100K of mortgage interest which was RIDICULOUS. The original reason for the deduction was to help people be able to afford a house. If you have a house so expensive that you have $100K of interest annually you do NOT need help affording a place to live. Rich people make the laws to benefit themselves.

Oh and to efile this year I had to provide information off my drivers license, which was new for me.

I'm pretty sure I've had to do that in the past, too many people somehow filing for others and stealing the refund (not quite sure how).

then Alaska stole our permanent fund dividend check

Is that the "oil" check all Alaskans get (or got??). Never did understand that.

If you have a good bit of land, plant it in trees. Be smart. Do a 5 year plan. Plant so that each year you can have it timbered, and get enough to pay property taxes, and maybe a little more.

Takes a lot more than 5 years to get a tree, even a softwood, to timber size.

 

[pennyJo1960]

The dividend was from oil sales cannot tell me it dried up .. back out today took the boots back found the could not tie them tight to my upper ankle so went to another store bought a pair of sorrels ankle slip on's use to be called Juneau tennis shoes

 

[pennyJo1960]

Crud have not done BF's taxes yet sounds like a real kick in the pants huh