The Tax Benefits Of Real Estate Investing: Difference between revisions
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Revision as of 05:52, 12 November 2024
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The internet has given us the capacity find mortgages that are having or close to default. You ought to be fairly obvious a person by this time in the book that somebody is not paying their mortgage, they aren't paying their taxes.
Contributing a deductible $1,000 will lower the taxable income for the $30,000 12 months person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For your $100,000 per year person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost twice as much!
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