....property taxes too high?

[fatlazyless]

Originally Posted by MAXUM

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!

…...cruising past my humble abode …..slow down and take a good gander at my recently constructed, installed, and completed, totally new second floor on top of my 70-year old mongrel, hodge-podge wf cottage …… two new bedrooms and a new bath up there...…. constructed entirely with 2"-3"-4"diameter x 42"long, high density, foam floatation noodles in multiple colors plus a lot of freebie, give-a-way paint stirrer sticks for stirring the paint which I believe are made from a birch tree...….

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?

[joey2665]

Originally Posted by fatlazyless

…...cruising past my humble abode …..slow down and take a good gander at my recently constructed, installed, and completed totally new second floor on top of my 70-year old mongrel, hodge-podge wf cottage …… two new bedroom and a new bath up there...…. constructed entirely with 2"-3"-4" high density, foam floatation noodle in multiple colors plus a lot of freebie give-a-way paint stirrer sticks for stirring the paint which I believe are made with birch...….

so's …….

while Bob Bahre has the most prominent home in on the lake ….. LONGVIEW …. I, fatlazyless, have bestowed the name 'Noodle Heaven' on my little cottage, which by the way is way below the Meredith sweet spot for more than $10,000-prop tax …….. & 100% deductible ….. YO HO HO and a bottle of rum?





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?

If you have NO taxable income then NO deduction is needed as you have nothing to deduct it from.

[fatlazyless]

Originally Posted by joey2665

If you have NO taxable income then NO deduction is needed as you have nothing to deduct it from.

ooooooh ……. I seeeeeee …….. that's how it works? ……. but, what about the property tax bill …….. do you still have to pay that local property tax bill???

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?

[joey2665]

Originally Posted by fatlazyless

ooooooh ……. I seeeeeee …….. that's how it works? ……. but, what about the property tax bill …….. do you still have to pay that local property tax bill???

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?

Only you don't have to pay your property tax. There is a little know special exemption for the highest ranking poster on the forum.