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#101 | |
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#102 |
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#103 | |
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Better yet, though, is to stop turning everything into a partisan issue where all the blame goes on the other guy and instead listen, compromise, and come up with real solutions that don't involve finger pointing and blame. There's a reason I am not affiliated with a political party and choose to support people and policies rather than always do what "my" party says. |
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#104 | |
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I agree on having no affiliation with any “party” though...one side is as bad as the other in most cases. You must admit, however, the levels of opposition, resistance and violence is tipped toward “one party” in particular... |
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#105 | |
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#106 |
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I hit the thanks button by mistake but you sound like a nice guy so I’ll leave it there...
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#107 |
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How about looking at results instead of intentions?
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#108 |
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Anyone know what the sweet spot, property value is for Town of Meredith; the assessed value where you leave the land of making your property tax payment with money that can be deducted from federal taxes, and enter the level above $10,000?
Is it $850,000 assessed Meredith property value? If yes, then owning Meredith property assessed above $850,000 got more expensive for tax year 2018 ...... paying with non-deductible, real money for above your town's sweet spot..... no more help from your long time real estate friend, Uncle Sam ...... the federal government .......boo-hoo-hoo-hoo ....... what happened to our long term relationship ....... you, me, the Federal Gov and owning a home.......... ![]() Have two homes ....... it is $10,000-total ...... like for one in NH and one in FL ........ as opposed to $10,000 for each home ..... which would be $20,000 ...... you get this picture. Yes, we see.
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#109 | |
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#110 |
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#111 |
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If history serves as a measuring stick, it'll never end. In fact I think he's over due for another random noodle posting. Just think if some how some way he can figure out how to find a way to fix the 10K property federal tax limit with a noodle? God help us all!
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#112 | |
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You guys are giving him exactly what he wants, he likes to stir it up. HEY LESS, why should I have to subsidize your expensive property tax and state taxes by letting you deduct them? $10k sounds more than fair to me. |
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#113 |
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That is because you live in a low tax state. Come to NY, NJ, MA, CT, CA ect where there is extremely high state income and property tax. The least should should be able to do is deduct them 100% on your "federal return".
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#114 | |
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so's ……. ...while Bob Bahre has the most prominent home on the lake ….. LONGVIEW..... $309,230 annual Alton, NH-property tax bill …... that fabulous mansion with the truly long view …. I, fatlazyless, have bestowed the name 'Noodle-ville' on my little cottage, which by the way is assessed way below the Meredith sweet spot for paying more than $10,000-prop tax …….. & is all 100% deductible ….. YO HO HO and a bottle of rum ……. true happiness is owning a 100% deductible property tax? ……. yo-ho-ho! ![]() Like, why is all these For Sale signs recently popping up on my road, up and down the waterfront here …… "Because something is happening here but ya don't know what it is. Do you, Mister Jones?" (ballad of a thin man lyrics, bob dylan) ![]() ![]() ![]() Here's a question for the forum cpa on board here …….. so, how does one deduct the property tax when you have absolutely no income coming in …..then, what do you do ….. that seems like it may be a serious accounting difficulty?
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... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 10-02-2018 at 11:22 AM. |
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#115 | |
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#116 | |
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![]() Can't I just slice some foam noodles off my new second floor, wrap them up nice, and take this noodle package down to town hall as a payment in kind, or something …. sort of like paying the doctor's bill with a big box of freshly caught small mouthed bass? ![]() ![]()
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... down and out, liv'n that Walmart side of the lake! |
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#117 |
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How long would it take each town to place a lean on the property and go to court to force a sell for unpaid property taxes? Past life in a mass town an individual went six years before she had to sell. By the way she walked away with cash as they can only take the unpaid balance and you get the rest
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#118 |
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#119 |
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Yes. ........... and if you can't they will start the process to get someone who can. Keep in mind all that free stuff you like tennis courts and recreation centers has to be paid for by someone and that includes yourself. It's not like taking a snowblower back in the spring and telling Lowes it just is not going to work out for me now that it's spring and there is no more snow.
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#120 |
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In NH your taxes have to go unpaid for three years before the town will take them. Then it depends on the town how fast they move They do have to give notice that they are going to take the property.
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#121 | |
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Lot's of towns don't rush this process, if they know that the property has equity, however it will cost a ton of money to settle up with the town as the interest penalties are very very steep. The longer you wait the more they make and they know that. |
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#122 |
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So, a individual can enjoy many years of lakeside living without paying their tax bill!!
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#123 | |
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#124 | |
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#125 |
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Agree with all above, keep in mind, in most of these cases the first item negotiated out of the settlement is interest and penalties. What’s left is the tax balance. You are not losing money, just delaying payment. Will it tread this way, Laconia told everyone in today’s paper to be aware of the coming tax hike.
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#126 | |
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#127 | |
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Funny they hiked the holy crap out of the values already, now going for the rate hike?
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#128 |
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#129 | |
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Last edited by Biggd; 10-02-2018 at 01:58 PM. |
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#130 |
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Joey, I live in MA where I pay property plus all the other taxes there and pay property taxes in New Hampshire too, my question still stands.
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#131 |
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#132 |
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Joey, I don't support making everyone else pay more so I can pay less because my state is out of control with taxes. I choose to live in Massachusetts, although every year I wonder why. But yes, I'm fine with the $10k cap, especially when I consider with the cuts I will most likely pay less than I would have with last year's rules, even with the cap.
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#133 |
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No one likes to pay taxes but the money has to come from somewhere. I don't mind as long as I feel my tax dollars are being spent properly and not wasted. Everyone has a different vision of what their taxes should be spent on.
If you have young kids you want it spent on the school system. When your are older and your kids have left the nest you don't want to be paying extra for something you are not using anymore. But a good school usually increases the value of your home which increases the taxes. It's either one or or the other. Sent from my SM-G950U using Winnipesaukee Forum mobile app |
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#134 | |
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You hit the nail on the head. I have been doing a lot of forecasting for clients and it is definitely a client by client situation. Some will pay less even with the cap and others will pay more. From what I have done and being in NY with high state income tax about 60% of my clients will pay more in 2018. Those paying less will not care those paying more will obviously complain |
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#135 |
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Joey, funny you are talking about NY taxes. My phone company used to be in Portsmouth NH but they sold out to a company in NY. Surprisingly to me, they told me today that we have to pay the NY taxes.
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#136 |
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If you don't mind me asking, what company? If the phone services are provided outside NY you should not have to pay NY taxes.
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#137 |
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First Light.
That's what I said to them but they didn't agree with me. I'm sure the NY portion is not a whole lot of money but each line is charged. Obviously I would expect to pay the federal taxes and any NH taxes, but the NY deal did surprise me. |
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#138 |
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You having to pay NY taxes on your bill would not surprise me. Most people having never lived in NY have no idea how high the taxes etc are in NYS. Much higher than Mass., no comparison. Only Calif. could possibly rival NY taxes. If you have to pay NYC or Yonkers taxes or both, you are getting pummelled from all sides. It's like you're just hoping for survival. Ask anyone who has ever lived there.
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#139 | |
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You do not pay multiple city tax in NY any longer. Only individuals living in nyc pay city tax as with Yonkers. There no longer is NYC or Yonkers non residents tax ( more commonly known as commuter tax) Rudy Giuliani did sway with it years ago. Sent from my iPhone using Winnipesaukee Forum mobile app |
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#140 |
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You are probably correct, as I am not an accountant and retired some time ago. At one time, if you were a NYC employee living in Yonkers NY, you paid federal, state, nyc and Yonkers income taxes. Would you agree with me that NYS has the highest overall taxes in the nation. Don't forget to figure in the MTA tax and all the taxes that appear on your phone and cable bills.
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#141 | |
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#142 |
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That would be California. Although NY isn’t much better. In Pennsylvania you have to pay city tax also in addition to state for every city you work in. I hate preparing PA tax returns they are a PIA.
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#143 |
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I'm surprised that no one has mentioned that the standard deduction for a married couple has doubled to $24,000 for 2018 (add $1,300 for each spouse age 65 or older). Even though the tax deduction is capped at $10,000 that additional $12,000+ standard deduction will help offset additional taxes that can't be deducted any more. That should help a lot of people. I guess we'll see since none of us have actually done our taxes yet for this year under the new tax plan.
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#144 | |
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#145 |
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Oh, and of this year I get to deduct that extra $1300!
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#146 | |
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#148 |
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I think the bigger issue is that, at least according to my accountant, most people will take less home at tax season because they're taking more home in each paycheck.
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#149 |
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I am curious as to how I'll make out. So far I have not seen any meaningful change in my pay. My bigger concern is the incredible growing deficit. I remain dumbfounded by the GOP's unwillingness to address the deficit, despite years of promises to do just that and years of criticizing the Obama administrations spending. And before anyone says otherwise, a booming stock market does not reduce the deficit. Are the Democrats any better? Of course not.
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#150 |
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After years of my Corp and LLC creating a tax loss to off set my income, thus paying very little in taxes, now my accountant tells me he doesn't want to see losses in those anymore. He says I will pay less on Corp tax profits than I will pay on my personal tax filing.
So now I have a whole new way of thinking, run up my Corp profits and pay less in taxes. Thanks Mr. Trump! |
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#151 | |
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#152 | |
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#153 | |
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#154 | |
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#155 | |
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#158 |
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I think everyone can agree that a new NAFTA deal was long overdue and I will give him all the credit for getting that new deal done but I don't want a dime of my hard earned tax money to go for paying for a wall, directly or indirectly. ![]() |
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#164 | |
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![]() A notable percentage of "Millennials" are foreigners. ![]() "Millennial" Seth Rich was born in the US, wore the US flag as clothing, noted a major shift of allegiance within his party—and may have loved this country. ![]() "Millennial" Jackson A. Kosko was arrested in DC yesterday on seven charges including "witness tampering". (There's a NH connection to Maggie Hassan). ![]() |
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#166 |
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Back to taxes for a moment because there are a couple of people on this thread who appear to actually know what they are talking about. What do you expect the effect to be on a retiree living on SS & investments with property in both MA & NH. In previous years my itemized deduction were over 24k
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#168 |
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Thanks. I’ve heard more “you’re screwed” so this is refreshing. I think now is the time to stop asking and wait w/a positive outlook.
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#169 |
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Today's November 20, 2018 Union Leader has a follow up article, 'Former race track owner settles property tax with Alton', written by Bea Lewis on Bob Bahre and the Town of Alton and how they have reached a settlement over his property tax bill without it getting litigated in Belknap court.
The property apparently continues to be available for sale if anyone is looking for what used to be home to Camp Alton from 1937-1992, for 55 wonderful years, with about 300 campers and staff making it their happy summer camp home for every summer. Now, it is almost totally vacant except for the guy who shows up to mow the lawn once/week ...... and a very dead black bear .... the only full time resident .... is a black bear rug .... ugh! Interesting to see a photo of that cabin room with the bear skin rug on the floor. Could well be that bear was a Route 93 road kill bear, struck by a car, and made into a rug for some one to buy for $5000? If you look closely, it sure looks like tire tracks going down the left side of the dead bear, there ...... ouch ....... poor black bear!
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... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 11-20-2018 at 06:46 AM. |
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#170 | |
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It's never crowded along the extra mile. |
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#171 | |
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I know it was probably a lot of money, but how nice would it have been if Alton could've bought that parcel? Merrimack, where I live, has done a great job of preserving land for the town--there are three great parks with hiking/hiking trails and a few more smaller areas to recreate, almost all with beautiful water features. Sent from my Moto G (5S) Plus using Tapatalk |
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#173 |
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The Wolfeboro Inn has antlers decorating their rooms' overhead lights.
The antlers are from pronghorn antelope—the nearest of which are about 2000 miles away. ![]()
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Every MP who enters Winter Harbor will pass by my porch of 67 years... ![]() |
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#174 |
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For all the readers here who have been offended by the ceiling light fixture made from deer antlers ......... did you know that deer antlers are a yearly renewable resource because they grow a-new every year ...... falling off during the rut (whatever that is?) and starting to grow back after the winter, in the spring time ..... getting up to full size in the late fall ....... or something!
And, just look at that very empty expression on the dead bear's face ...... does not look happy, sad, ferocious, curious, hungry, or any type of a bear expression ...... it just looks expressionless ..... like a very, very icy, zombie type of dead ..... just imagine sharing the room with that after paying seven million for the big mansion..... no thanks? ................. So, why is the Meredith tax rate going up? Is it because your state and local property and income taxes above $10,000/year are no longer deductible from your federal income tax? In a sense the IRS has eliminated the formerly friendly middle man, your very friendly Uncle Sam, you know that very friendly way how the form 1040 treated your residential real estate tax and state income tax going all the way back to 1913! So, what happened ...... and what, me worry?
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... down and out, liv'n that Walmart side of the lake! |
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#175 | |
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Consider griping about the doubling of the standard deduction. The new law that roughly doubles the standard deduction to $12,000 for an individual filer and $24,000 for married couples filing jointly. Thank God that Trump's finally trying to raise taxes on the rich. Long over due. Maybe with the return of a democratic majority in the house they will go back down. ![]() |
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#176 | |
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#177 | |
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If you read back to the original thread post and then read FLL's recent reply the two combined don't really make sense. (Including my own reply) Unintelligible, and distorted. Chastising Bob Bahre with "Boo-hoo-hoo-hoo-hoo- …… we really feel for you ……. poor Bob!" Guess what! FLL Boo-hoo-hoo-hoo-hoo- …… we really feel for you ……. poor FLL. Despite the fact the possibility exists that you might do better under the new rules when you put them all together in context and not just pick out the one you don't like. Many years ago a friend of mine asked if I would be willing to pay twice as much in income taxes next year. My quick response without thinking was no. No was actually the wrong answer. Using the same logic as above, that would mean if your boss offered you a promotion at twice / double your compensation, you would say No. Because you would have to pay more taxes. Last edited by Top-Water; 11-23-2018 at 10:30 AM. |
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#178 |
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Here's some news, if you own a property on Lake Winnipesaukee you are rich. Back to your normally scheduled programming.
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#179 |
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That sounds like fake news to me.
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#180 |
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For the Town of Alton to make up their lost revenue with this Bob Bahre property tax adjusted agreement, the town could create a THREE-plus GARAGE DOOR TAX .... where as ..... any residence with more than TWO garage doors gets hit with a $5000/door annual property tax.
So, having three garage doors will cost you $5000/year. Having four garage doors will cost you $10,000/year, and having five garage doors will cost you $15,000/year ..... etcetera. And, this tax does not apply to a one or a two door garage, it's starts with the third garage door ..... you understand! So, how many garage doors at the Bahre mansion that is appropriately named Long View, because the view goes all the way down to the MV Mount Washington's winter anchorage in Centre Harbor ....... about 12-miles away .... looking like a visible white object or white blurred dot way, way, way down there? The thinking being that if you got a three car garage, then you probably got some serious pension money rolling in through all those big doors..... enough to easily pay the extra tax and help the Town of Alton with all its expenses. ![]()
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... down and out, liv'n that Walmart side of the lake! Last edited by fatlazyless; 11-24-2018 at 08:40 AM. |
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#181 |
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There is nothing more nauseating than listening to somebody who is utterly and completely useless harping on those that through their own ambition happen to have a hell of a lot more as if they are the ultimate authority on the subject. It's quite pathetic, even tragic that this is what this country has turned into as there are more and more who believe this.
The truly sad thing is that most people are quite wealthy in that they make the income to get there - but are to stupid to manage their finances appropriately. |
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#182 | |
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#183 | |
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The fact is they are much more likely to tax you on the frontage, the view and not the value of the place at all. Most of use with cottages are considered tear downs if the place is ever sold. We strive to maintain the lake life of old and value the area, the friends and the towns that surround the lake areas. |
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#184 |
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If you are on the lake, the value of the place IS the frontage and the view. If you disagree, and you are on the lake, I recommend selling your current place, moving to a nicer house just a few hundred yards away, and pocketing $500K or so.
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