Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:if your MAGI is under $500,000. Phases down to $10,000 if MAGI is over $600,000

As it should

Not necessarily - it still encourages wealthy people to move to Florida or Texas or other no/low tax states.

wealthy people don't want to live in texas or florida.

Based on typical late‑2025 inventory patterns:

- Washington DC metro: a few dozen homes for sale with asking prices above $5 million (concentrated in Northwest DC, close‑in Montgomery County, and Northern Virginia).

- Florida statewide: low hundreds of homes for sale above $10 million (concentrated in Palm Beach County, Miami‑Dade, Broward, Collier/Naples, and the Keys). Large public portals list many ultra‑luxury properties but don’t provide a precise statewide count in one view.

are you really comparing the entire state of Florida and its coastline with one metropolitan region with its own specific (government) industry? People from NY, Boston, and abroad also have been choosing to retire in Florida for the last 70 years now. Damn, MAGA is truly bad at reasoning

Are you one of those posters who ruin every thread by shouting MAGA at every topic? It is tiresome and delusional.

Florida has long been a popular destination for the very wealthy. A combination of tax friendly governments and lifestyle options makes Florida attractive, especially when factoring in the generous state residency policies. There is wealth in Florida and Miami that you don't see around DC for the most part.

Texas also has a high concentration of very wealthy people due to the state's energy and business markets. Austin, Dallas and Houston all have their large quotas of billionaires and you will find high end properties to match. There's a level of architecture and new construction of very high end properties in Texas that is almost nonexistent in the DMV. There's a lot of wealth in both Florida and Texas, more than in most states when you get down to it. You can shout MAGA as often as you want but this is a pattern that long predated Trump by decades.

Why is it beneficial to prepay 2026 property taxes? Just trying to understand.

Anonymous wrote:

Anonymous wrote:Wow thanks Trump!

Trump took away the SALT deduction in the first place in 2017 as payback to voters in blue states with high taxes. And the BBB didn't include this adjustment until a handful of NY/NJ/CA republicans (the "SALT Caucus") held out and said they wouldn't vote for it without it -- it was weeks of stonewalling before Johnson agreed to raise the deduction, and even then only for 4 years.

But thank the arsonist firefighter, as usual.

Wrong. There was amt so even if you took salt before it was capped now there is no amt and a reasonable salt limit. Thank you trump for getting ride of any and salt!

Anonymous wrote:

Anonymous wrote:With SALT deduction in 2025, that would push us to itemize, and would give us the full benefit of charitable deductions right? (Unlike in 2026, when there are more limitations on charitable deductions.) Trying to get a handle on the full scale of the tax savings.

The limits are pretty loose — you can't deduct the first .05% of your charitable donations. For my family, that knocks off about $200 in deductible donations, but we typically deduct more than $10,000 a year in charitable giving, so I don't really intend to change anything because of that tax change.

Sorry, that's not right — typo. It's first .5%, and we lose about $2,000 in deductible donations. Still not planning to give less.

Anonymous wrote:With SALT deduction in 2025, that would push us to itemize, and would give us the full benefit of charitable deductions right? (Unlike in 2026, when there are more limitations on charitable deductions.) Trying to get a handle on the full scale of the tax savings.

The limits are pretty loose — you can't deduct the first .05% of your charitable donations. For my family, that knocks off about $200 in deductible donations, but we typically deduct more than $10,000 a year in charitable giving, so I don't really intend to change anything because of that tax change.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:if your MAGI is under $500,000. Phases down to $10,000 if MAGI is over $600,000

As it should

Not necessarily - it still encourages wealthy people to move to Florida or Texas or other no/low tax states.

wealthy people don't want to live in texas or florida.

Many do, but they aren’t like us…

They only have to live in Florida six months and one day. My old GF was old money had a house in Palm Beach. That crowd had a Beachfront Condo or House in Palm Beach, House in Southampton and a Coop in NYC .They pretty much would summer in Hamptons three months. Spend a few weeks in spring and Fall in Manhattan and then go to Palm Beach from November to April. If they did not hit full six months one day for residency no big deal they usually went back a week or two more to check on house and stuff. They had trust fund money and did not want NYC or NY taxes eating it up. It is like 10 percent between state and City most people. On a 5 million dollar trust fund that is 500K in NY taxes

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:if your MAGI is under $500,000. Phases down to $10,000 if MAGI is over $600,000

As it should

Not necessarily - it still encourages wealthy people to move to Florida or Texas or other no/low tax states.

wealthy people don't want to live in texas or florida.

Many do, but they aren’t like us…

SALT write off is a blessing for folks with vacation homes they did not rent with no mortgage

Anonymous wrote:NY CA NJ people: prepay your 2026 prop taxes now before the new year. You’re welcome.

I did that last time. In NY normally first half property tax bill comes out Jan 1st they moved the day up a week or so folks could pay. Just needed to be postmarked. I actually went in person around 12-30 to tax place, paid in person and got receipt.

NY CA NJ people: prepay your 2026 prop taxes now before the new year. You’re welcome.

I actually learned something on DCUM this time. I would have found this out from my accountant come tax time, but still it's good to know. I'm now over the threshold for itemizing and this will reduce by taxable income by over $10k

Oh I feel better about losing the tariff bonus check.

Anonymous wrote:Wow thanks Trump!

Trump took away the SALT deduction in the first place in 2017 as payback to voters in blue states with high taxes. And the BBB didn't include this adjustment until a handful of NY/NJ/CA republicans (the "SALT Caucus") held out and said they wouldn't vote for it without it -- it was weeks of stonewalling before Johnson agreed to raise the deduction, and even then only for 4 years.

But thank the arsonist firefighter, as usual.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:if your MAGI is under $500,000. Phases down to $10,000 if MAGI is over $600,000

As it should

Not necessarily - it still encourages wealthy people to move to Florida or Texas or other no/low tax states.

wealthy people don't want to live in texas or florida.

Based on typical late‑2025 inventory patterns:

- Washington DC metro: a few dozen homes for sale with asking prices above $5 million (concentrated in Northwest DC, close‑in Montgomery County, and Northern Virginia).

- Florida statewide: low hundreds of homes for sale above $10 million (concentrated in Palm Beach County, Miami‑Dade, Broward, Collier/Naples, and the Keys). Large public portals list many ultra‑luxury properties but don’t provide a precise statewide count in one view.

are you really comparing the entire state of Florida and its coastline with one metropolitan region with its own specific (government) industry? People from NY, Boston, and abroad also have been choosing to retire in Florida for the last 70 years now. Damn, MAGA is truly bad at reasoning

With SALT deduction in 2025, that would push us to itemize, and would give us the full benefit of charitable deductions right? (Unlike in 2026, when there are more limitations on charitable deductions.) Trying to get a handle on the full scale of the tax savings.