Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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Yeah all the Yahoos think that stuff is free and someone else is paying for it. As Margaret Thatcher said, "the problem with Socialism is that eventually you run out of other people's money". ...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
True story, California Governor Jerry Brown just released the state budget... $40 billion higher than 4 years ago, and the state has a multi billion dollar surplus and that isn't even taking into...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
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Yeah I love how the socialist states want to find any way they can to continue to tax and spend us into oblivion rather than find ways to get their act together. Heaven forbid they get their fiscal...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
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You're right, Mnuchin just spoke about it... state governments dressing taxes up as charitable donations LOL. When you think about it and where your money really actually goes, they are, I can tell...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
Even if they do that, the IRS can simply deny\fail to recognize the charity status I believe. It might end up in court, which will take years to resolve. Plus, as you allude to, a charitable...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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There is no 3rd party charity. The state/city is the charity. So the "donation" goes directly to the state/local government. In return the state/local government gives you a tax credit that takes...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
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This makes prima facie sense but the implications are huge. How does ownership go? In essence, the town would force each "taxpayer" to "donate" to a 3rd party charity. How does that work? How do...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
I prepaid state income taxes that would be owed in y 2017 tax return on my capital gains that weren't covered by my previous estimated tax payments. I should be able to deduct that this year at least...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
source? that would be welcome relief to me, living in NJ with high property taxes
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
I tried prepaying, and my county won't accept it. They use an outside vendor to collect the taxes and they were not prepared for all of the prepayment requests this year.
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
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Thanks to everyone who replied and especially for this ^^^. It looks like I'm best off just paying my first half of 2018 in 2017 and being done with this idea.
Charitable donations, however.......
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
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Yep, tax has to be "assessed" and paid in 2017. So, you maybe able to pay the last
installment of your 2017 assessment early at best.
IRS guidance
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
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and now the IRS has killed this idea.
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
Only worth prepaying a couple years worth.
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
Aside from any IRS determinations about "excessive" pre-payments referred to above, you need to beware AMT.
If you have too many excluded deductions (primarily state and local taxes) you'll find...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
OP should run the #'s. I don't see how this can really make much sense unless OP is swimming in cash (they indicate they need to finance it, so that probably isn't the case).
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
One can hold out hope for coalition governments and the power of regional governments. Did you see that press conference with all the Republican leadership the other day? I don't think they praise...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
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Can you get a bill to pay my property taxes change every year so not sure if I could even prepay mine.
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
I dont impound my property taxes. I get hit with $15k property taxes a year. I signup for two big signup bonus credit cards like amex plat or chase ink and put the payments on them. I get hit with a...
Prepay Property Taxes in 2017 and FINANCE for larger refund?
Thread created 12-22-2017 by Lakee911
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27 Replies
3,196 Views
You will be far better off paying whatever principal you can in advance rather than paying the mortgage payments in advance. The interest you can deduct at whatever your marginal tax rate is is...
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