We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years.
Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community.
In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.
Senators plan to introduce their bill Thursday. Sen. David Perdue (R-Ga.) said one revenue-raiser that will probably be included is a full repeal of all state and local tax deductions, including property taxes, a big blow to many residents in California and other high-tax states.
The House version, introduced last week, would cut the corporate rate immediately from the current 35%. But Ryan suggested Wednesday that there was room for compromise.
Senate Republicans may add to the bill’s costs through other adjustments, which may include preserving the mortgage interest deduction at $1 million, rather than the lower $500,000 cap in the House GOP bill.
On Wednesday, the nonpartisan Tax Policy Center released an analysis of the bill that said 76% of Americans would get a tax cut in 2018, averaging about $1,900. About 7% would get an increase, averaging $2,140. The analysis included all people with cuts or increases, while the congressional analysis counted only those with a change of $100 or more.
By 2027, the Tax Policy Center said, 59% of Americans would get a tax cut, averaging $2,330. The number of people with an increase would rise to 26%, with an average hike of $2,080.
The Tax Policy Center originally released its analysis Monday, but then abruptly withdrew the report after discovering an error. The new analysis was roughly similar to the first one, concluding that the greatest benefit from the tax bill would go to upper-income households.
Middle-income taxpayers — those earning between $48,600 and $86,100 annually — would receive an average tax cut of $840 next year, or about 1.3% of their after-tax income, the analysis said. That cut would amount to about 14% of the total benefits from the plan.
The top 20% of the nation’s earners — those making more than $149,400 a year — would receive an average tax cut of $4,840, or about 1.4% of after-tax income. Their share of the total benefits would be 57%.
By 2027, when the estate tax is fully phased out, the top 20% of earners would receive 73% of the benefit of the bill’s cuts. Middle-income earners would get 9% of the benefit.
http://www.latimes.com/politics/la-na-pol-gop-tax-plan-20171108-story.html
and then there is this to consider. I like the idea of eliminating AMT.
http://beta.latimes.com/opinion/op-ed/la-oe-dayen-gop-tax-prop-13-20171109-story.html#nt=oft13a-10gp1