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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 8 Apr 2005 19:23:05 -0700
/ Author of the message: gehawaii@yahoo.com |
Title of the message: |
How to estimate what the tax write off will be??
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Text of the message: |
I'm considering getting into a property, with some other investors, and I will be living in the house. The house will be in my name. Part of the benefit/incentive to me in this deal will be the tax write off next year. My understanding is I can write off the interest paid. Q: How can I estimate what the deduction will be? Say I pay (in reality it would be the investors and myself) 30K in interest over the next year....is it a % that I can write off or is it capped at some value? What I'm trying to figure out is roughly how much money I will get back via the write off and evaluate it against the risk I will be assuming by entering into the transaction with the other investors. Yes, I'm a complete novice. I've never owned before nor do I have any experience with tax write offs. Thanks GE . |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.