ATTN: AMP - You do not own your house until it is fully paid off.
 

..that applies to you car too faggit.

Lord Nelson are we buddies?

just how do you know he owes money on them ?

Handling
Tre kompisar campar i skogen nhahaha228;r de ser en rymdfarkost landa. De fhahaha229;r syn phahaha229; en rymdvarelse och besthahaha228;mmer sig fhahaha246;r att fhahaha229;nga honom fhahaha246;r att tjhahaha228;na pengar fhahaha246;r att kunna khahaha246;pa hahaha246;l.

negro, please.

mmmkay...

sig spot?

Owning a home outright is not always a good thing...... (interest)
:2 cents:

BRILLIANT! You probably think you're getting 'free money' when you get a cash advance from your credit card too, right?

You should work in the Bush Administration, where your economic prowess would fit right in.

nice try but legally you do own both of these.

What do you care? Failed at getting Lensman's attention so now you have to direct your hate elsewhere... for fear that it might bottle up and explode?

hate on... have fun... until you get banned again.

No you do not.

Explain it now: How do you profit from your home's increasing value if you don't sell it and pocket the profit?

C'mon, Warren Buffet, this is an easy question.

Why do you care if I care? Get off my cock faggot. Put me on ingnore.

lol :1orglaugh :1orglaugh wtf?

What is "ingnore" ?

hmmm, every application I ever filled out said "own" or "rent." I have never seen one that said "still paying on it."

Heh, yes well... this "lord" person obviously has no clue how a mortgage really works.

Hell you don't even really own your property after it after its paid off. Property and school taxes are always looming.

I'm sure you believe that. Which is what makes it so funny.

Your extreme "financial prowess" get's better and better doesn't it. Well, I guess when you're making $10,000 a year tax deductions aren't part of the equation. :1orglaugh :pimp Or are they "lord"?

Making? You think you are 'making' money when you write off your interest on your taxes? Now thats a good one.

dadz rite!

No..... if you "earn" $10,000 a year tax deductions aren't part of your equation. Interest write offs aren't "earning money". But knowing how to manage taxes and income is. I'd be surprised if 1% of this board could tell me what the FICA cutoff even means. :2 cents:

orlY?????

Don't worry kid, you'll catch up. You probably think $1 in mortgage payments = $1 in tax deduction.

I wouldn't call it "Making", but when you're writing off interest on an expense you already incur, you're certainly SAVING money.

It's kinda like those guys that were multi-millionaires cuz they had options on pets.com :1orglaugh

LMAO... :1orglaugh Don't worry "kid". Stick to the 1040EZ this year, make sure you get your EIC, and you'll be okay.

lord nelson = m00d, which should tell you something

Well .. I don't know where you get your information. i own a house in Seattle outright, and I own one in Los Angeles. The home in LA gets me the tax dedutions that lower my taxes down to nearly nothing. owning your hoe out right does no have ANY tax advantage. Plus the money is not working for you. Why sit on all that money when you acn invest and make more?

:helpme

"The enemy of my enemy is my friend"

True, but some of these people think incurring expenses for the sole sake of getting the write off is a smart move.

not saying its not the case, but what exactly makes you think so ?

SO anywhere from 25-40% of the interest you paid for your LA home could've paid your tax bill saving you 60-75% a year. And thats if you didnt figure out a way to shelter that money elsewhere.

that is incorrect.

My home in LA is also an office much more write off than the normal tax write off. I reccommend a good accountant :thumbsup

I also have gained un ungodly amount of equity in both homes. The ROI here is unlike any other investment. I am not going to sit here and argue forever but I will tell you that i am doing ok :thumbsup

:1orglaugh :1orglaugh

depending on where you live eminent domain may also apply, meaning that your shit is never your shit, and the next time a government entity needs some money and sells your ass under the bus by selling your land that your house is on to a shopping mall conglomerate, you're fucked.

I suggest you get a good accountant because:

1. Writing off a home office has nothing to do with mortgage interest.

2. Writing off a home office will fuck you up when you go to sell your house, you will have to pay tax on the depreciation deduction you've been taking this whole time.