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Posted on 5/28/26 at 1:56 pm to loogaroo
It is weird that people are upset about this.... the people on this board that is. None of you have the wealth that would cause this to harm you in any way whatsoever.
Posted on 5/28/26 at 2:15 pm to rebelrouser
quote:You don't get a homestead exemption on a second home. Only for the single, primary residence.
Then you owe even more tax because no homestead exemption.
Posted on 5/28/26 at 2:23 pm to loogaroo
Commies gonna commie
Posted on 5/28/26 at 2:23 pm to loogaroo
I hope you all understand the details of this, its quite funny.
So the state fought like heck to keep the SALT deduction (the amount you could deduct on an expensive house payment) in fed tax and it was capped.
Now NYC is saying, you saved that so now we are gonna take it..
So the state fought like heck to keep the SALT deduction (the amount you could deduct on an expensive house payment) in fed tax and it was capped.
Now NYC is saying, you saved that so now we are gonna take it..
Posted on 5/28/26 at 2:27 pm to LemmyLives
quote:
I don't own that condo, my LLC does.
That is exactly what this is targeting my friend, the loophole that let you get around federal SALT limits.
Call your accountant he will explain.
You are one of the 500Million
Posted on 5/28/26 at 2:36 pm to LemmyLives
quote:LLCs still fall within your personal income taxes.
I don't own that condo, my LLC does.
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