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#31 |
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Admiral
![]() ![]() ![]() ![]() ![]() Join Date: Nov 2001
Location: East coast
Posts: 6,955
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Sorry I didn't see this until now!
Congrats, Cheapie, on the new job! Congrats, Ray, on the new job! ![]() As far as the rent or buy dilemma, I would rent. It is going to be more of a hassle to buy now and then sell later. |
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#32 |
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Chief of Naval Operations
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pretty much the only reason i'd buy over renting is the tax deduction i'd by buying. that's quite a bit. and the payments would be lower.
__________________
70% of the world is covered by water. The rest is covered by Bob Sanders |
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#33 |
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Lieutenant Commander
![]() ![]() ![]() ![]() Join Date: Jun 2000
Location: CO
Posts: 667
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Congrats Cheapie..... Well if I ever make it up to my parents house with my bike in Milwaukee we will have to meet for a ride. Also they have some pretty nice bike tours (road) in Wisconsin.
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#34 |
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Secretary of the Navy
![]() ![]() Join Date: Feb 2001
Location: Chillin' N Da 'Hood
Posts: 34,390
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Grats on the new job...
For me personally, I'd probably rent if I were only gonna be there for 2 years. Too many hassles with owning just to pull up stakes and move again in such a short period of time.
__________________
DarkFury's Pimptopia - Don't Hate the Playa, Hate the Game! Home of the Original OG Pimp (accept NO imitations)
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#35 |
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Chief of Naval Operations
![]() ![]() Join Date: Feb 2001
Posts: 11,270
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A few years back if you sold your house you only had a number of months (something like 18) to purchase another house or you would face capital gains on the difference between the purchase and selling price of your house (minus costs for improvements). I'm not sure if that's still the case, but if it is it would make buying another house a more attractive option.
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stay low... keep moving... |
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#36 | |
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Admiral
![]() ![]() ![]() ![]() ![]() Join Date: Nov 2001
Location: East coast
Posts: 6,955
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Quote:
This is only true if you made a gain on a primary or secondary house AND you did not own the house for more than 2 of the last 5 years. If you owned the house for 2 of the last 5 years and you didn't sell a primary or secondary house in the last 2 years for a gain then you don't have to pay taxes on the gain from the sale. I am pretty sure Cheapie meets these qualifications for his current house. |
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#37 |
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Rear Admiral Lower Half
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^ up to $500,000 gain is not payed if MFJ.
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LK was treated unfairly ![]() thanks X |
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#38 |
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Admiral
![]() ![]() ![]() ![]() ![]() Join Date: Nov 2001
Location: East coast
Posts: 6,955
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Good point. I failed to state that. Thank you!
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#39 |
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Chief of Naval Operations
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well, it's official. i passed the drug and background checks so i'm in! woohoo!
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#40 |
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Rear Admiral Lower Half
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nice! I told you the cranberry juice would work
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#41 |
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Chief of Naval Operations
![]() ![]() Join Date: Feb 2001
Posts: 11,270
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One nice thing about this move: you have a perfectly good excuse to no longer be a Lions fan. Welcome to BEARS country!
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#42 |
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Chief of Naval Operations
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I thought you were juicing for your rides. I guess the french didn't conduct the drug tests?
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#43 | |
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Chief of Naval Operations
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Quote:
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#44 |
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Chief of Naval Operations
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hahaha. nice. and yeah, i'm a big colts fan.
btw, anyone want to buy my house? went on the market today. as a special G|A deal, i'll leave the snowblower for you. ![]() http://www.7656harvestln.epropertysites.com/ |
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#45 | |
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Secretary of the Navy
![]() ![]() Join Date: Feb 2001
Location: Chillin' N Da 'Hood
Posts: 34,390
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Quote:
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