I'm posting this here in case some don't go to the POTUS forum. I'm not trying to start a political debate just passing on some information. My father in law sells mortgages and told me yesterday that in 2013 3.25% of the selling price of all homes will be taxed. This money will be used for Obamacare.I thought i'd pass this along in case anyone has moving plans in their future. Don't know if this part of the law is targeted for repeal or not.
New tax in 2013 GDG
cpj
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I'm posting this here in case some don't go to the POTUS forum. I'm not trying to start a political debate just passing on some information. My father in law sells mortgages and told me yesterday that in 2013 3.25% of the selling price of all homes will be taxed. This money will be used for Obamacare.I thought i'd pass this along in case anyone has moving plans in their future. Don't know if this part of the law is targeted for repeal or not.
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I read up on this a few months back so the details may be a little off. The tax is 3.25% of the profit over $500K which most likely won't have an impact on residential activity. However, in a situation where you have land that has been in your family for a long time, you would probably have exposure.
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and it also only impacts people who make more then 250K per year, married filing jointly
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Take the mis-information back to POTUS.
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No kidding.
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X2 That is a great idea
Just called father in law to get clarification. He isn't as educated as I thought on this subject but did say his bank had their attorneys checking into it. I'd be happy to update when he let's me know if anyone is interested. Some of you should grow up. As I clearly stated I am trying to help anyone moving in the future not start a political discussion.
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Please do update this as you get more information. Just make sure you post your update in Potus. Thanks.
Who needs to grow up? The people who come to this site to read and discuss dogs and training, or the people who get a fourth of a piece of information from a third party and can't wait to get on a retriever training forum to propagate the rumor?
Whitefoot who died and made you moderator???? Why don't you analyze the threads for the last several years and let us know what percentage are actually about dogs? By the way it's not a rumor it is a fact. The tax will exist unless repealed.
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View Poll Results: Salary / Age group
Age 18-30 < $45K / year household income 20 6.62%
Age 18-30 $45K-75K / year household income 29 9.60%
Age 18-30 > $75K+ / year household income 58 19.21%
Age 41-60 < $45K / year household income 12 3.97%
Age 41-60 $45K-75K / year household income 31 10.26%
Age 41-60 > $75K+ / year household income 116 38.41%
Age 60+ < $45K / year household income 4 1.32%
Age 60+ $45K-75K / year household income 9 2.98%
Age 60+ > $75K+ / year household income 23 7.62%
Voters: 302. You have already voted on this poll
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03-01-2010, 01:35 PM #1
Loren Crannell
Join Date: Apr 2008
Location: Mountain View, CA
Posts: 266 Age / Salary Demographic
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I am curious to know the general demographic of the FT community, and the RTF would be the best test sample.
I want to know how many people are getting into the FT game, what age, and what general salary. For obvious reasons, the results will be private and not listed.
My concern is with the economy being tough, field trial training being expensive, and time being limited how many people are willing to get into the FT game? Do you only do the minor stakes? What keeps you in the game, besides the addiction?
I am curious to hear your stories, and if the average age is greater than a certain point then how can we bring more people into the sport? Is disposable income one the biggest driver in the sport?
Loren
here's a poll from a year ago on this forum. very few of us would be affected by such a tax.
don't let fear run your life, because that's no life at all.
take the time to gather your facts before you pass this kind of information along, please.-Paul
Age 18-30 < $45K / year household income 20 6.62%
Age 18-30 $45K-75K / year household income 29 9.60%
Age 18-30 > $75K+ / year household income 58 19.21%
Age 41-60 < $45K / year household income 12 3.97%
Age 41-60 $45K-75K / year household income 31 10.26%
Age 41-60 > $75K+ / year household income 116 38.41%
Age 60+ < $45K / year household income 4 1.32%
Age 60+ $45K-75K / year household income 9 2.98%
Age 60+ > $75K+ / year household income 23 7.62%
Voters: 302. You have already voted on this poll
Page 1 of 4 1 2 3 > Last »
Thread Tools Search this Thread Rate Thread
03-01-2010, 01:35 PM #1
Loren Crannell
Join Date: Apr 2008
Location: Mountain View, CA
Posts: 266 Age / Salary Demographic
--------------------------------------------------------------------------------
I am curious to know the general demographic of the FT community, and the RTF would be the best test sample.
I want to know how many people are getting into the FT game, what age, and what general salary. For obvious reasons, the results will be private and not listed.
My concern is with the economy being tough, field trial training being expensive, and time being limited how many people are willing to get into the FT game? Do you only do the minor stakes? What keeps you in the game, besides the addiction?
I am curious to hear your stories, and if the average age is greater than a certain point then how can we bring more people into the sport? Is disposable income one the biggest driver in the sport?
Loren
here's a poll from a year ago on this forum. very few of us would be affected by such a tax.
don't let fear run your life, because that's no life at all.
take the time to gather your facts before you pass this kind of information along, please.-Paul
To clarify. The current law. If you sell your home and have a gain (capital gain) on the sale of that house, you may be subject to income tax on investment capital gains. However, just like everything, there are limits, exemptions, etc.
If you are filing single, you can exempt the first $250,000 of capital gains from selling your house.
If you are married filing jointly, you can exempt the first $500,000 of capital gains from selling your house.
What does this mean: If you sell your house and the gain (sales price less purchase price) from the sale is LESS than those above limits, you are not subject to include this gain on your tax return, and in return, will not be subject to capital gains tax.
NOW, HOW DOES THIS NEW LAW WORK:
The same exact way. If your capital gain on the sale of your house is LESS than those amounts listed above, you will not be subject to the 3.8% tax (for medicare). Please remember, the 3.8% is only on the amount that exceeds the above stated amounts (i.e. if you have $550,000 in gain from sale of house, only $50,000 will be subject to the 3.8% tax if married filing joinly).
Now, with all of this said, the republicans are currently in the process of taking Obamacare and repealing (or whatever you call it) in it's entirety. This means that everything associated with Obamacare, including this 3.8% tax on capital gains, and the requirement to continue health insurance for children until 26 years old, no matter whether in college or not, will all go bye bye (until the republicans can come up with their own version, in a different bill that then one set to repeal Obamacare).
I hope I clarified enough.
If you are filing single, you can exempt the first $250,000 of capital gains from selling your house.
If you are married filing jointly, you can exempt the first $500,000 of capital gains from selling your house.
What does this mean: If you sell your house and the gain (sales price less purchase price) from the sale is LESS than those above limits, you are not subject to include this gain on your tax return, and in return, will not be subject to capital gains tax.
NOW, HOW DOES THIS NEW LAW WORK:
The same exact way. If your capital gain on the sale of your house is LESS than those amounts listed above, you will not be subject to the 3.8% tax (for medicare). Please remember, the 3.8% is only on the amount that exceeds the above stated amounts (i.e. if you have $550,000 in gain from sale of house, only $50,000 will be subject to the 3.8% tax if married filing joinly).
Now, with all of this said, the republicans are currently in the process of taking Obamacare and repealing (or whatever you call it) in it's entirety. This means that everything associated with Obamacare, including this 3.8% tax on capital gains, and the requirement to continue health insurance for children until 26 years old, no matter whether in college or not, will all go bye bye (until the republicans can come up with their own version, in a different bill that then one set to repeal Obamacare).
I hope I clarified enough.
Zman thank you, I only hope your facts are accurate. The jackals are waiting in the shadows. There's a reason the old timer's on this forum are gone or seldom visit. Next time I get some info that I think might benefit the group i'll think twice about posting. Maybe Chris can start a two password protected sub forums, one for us and one for them!!!!
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I don't understand why you think there are "jackals" out to get you. Just keep political stuff like this in the potus forum. It's simple. You're the one who got defensive and told people they needed to grow up. All they did was suggest that you didn't share all of the facts OR that they'd prefer politcal posts be posted in potus. Go look at some of the conversations in potus; they can get quite heated. The training forum would be far less enjoyable to me if there were raging political debates within several of the threads.
And another thing...what's the screaming urgency to get this information out? This doesn't go into effect for another two years. I think your intentions were not as innocent as just wanting to "help out" your fellow RTF'ers.
And another thing...what's the screaming urgency to get this information out? This doesn't go into effect for another two years. I think your intentions were not as innocent as just wanting to "help out" your fellow RTF'ers.
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Well said!!!
Thank you!!
POTUS serves a valuable purpose in keeping the main forum somewhat civil and uncluttered; and keeping the Wacko's confined to the asylum
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I can see why this thread earned one star!!! HaaaahahahahHaaa!! 
I think the rating thingy should go lower than what is provided.
Don't live in fear, knowledge is key....
I think the rating thingy should go lower than what is provided.
Don't live in fear, knowledge is key....
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