Most of those people probably should not be in jail. Take care of that and the prison size goes way down
Stadium Discussion
- Thread starter Gene
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Most of those people probably should not be in jail. Take care of that and the prison size goes way down
NYC has an income tax that generates most of its revenue. Long Island does not. The Northern Burbs do not, excluding a much smaller one in Yonkers. Comparing real estate taxes and not mentioning that is dishonest.
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I believe that you can deduct those taxes from your federal taxes just like other taxes. lets be honest.
Certain blocks in NYC are worth more in real estate value than some whole towns in the suburbs.
Real estate taxes are on property not incomes. There are plenty of very wealthy people in NYC who have no taxable income but own real estate that is worth millions. Those properties are taxed at a low level compared to the rest of the metro NY area.
Don't call me dishonest
State taxes paid are not deductible on your federal return. The only time state taxes are "deductible" is when you file in multiple states. But even then, you are paying taxes in one state, and then deducting them on your resident state return so you don't end up paying twice. (And yes, I know the NYC tax isn't necessarily a state-tax, but when filing, it is somewhat similar)
True, but that is part of the city's tax income model. They lower the property tax in the city, because the people living there are being taxed on their income. Yes, there will be examples of people with no taxable income but own valuable real estate, that is something the city considered (I'm assuming they did) when deciding this is the way they wanted to tax their citizens.
This would be comparable to a state like Texas. They don't have an income tax, but they have a much higher property tax along with a higher sales tax.
if it bothers them they can improve their lobbying attempts and be willing to pay more to get nycfc stadium done much quicker.
EDIT: well...get etihad to push CFG to get stadium done that is.
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franchise646
Registered
If it were a airlines they are competing with they might have a bug up their ass, but Delta is actually bigger so No big deal.
If you have itemized deductions greater than the standard deduction you can absolutely deduct state taxes and real estate taxes on your federal return.
Drew Grabel
Registered
This is flat wrong. No offense but you really shouldn't talk about things, especially something like this which is a BIG thing, you know nothing about.
Well we figured out who the lawyers here were a long time ago. Now we're learning who the accountants are. How to do we out the dentists?
EDIT: We're also learning who the doctors are too. I'm looking at you Tom in Fairfield CT
EDIT: We're also learning who the doctors are too. I'm looking at you Tom in Fairfield CT
Maybe it's all the drinking I did tonight, but I really would love to see an accountants brawl break out at one of the bars on River Avenue next Sunday. Someone with a few drinks too many starts mentioning how governments use property taxes versus income tax or what's deductible and all the sudden bottles and fists start flying, tie clips get unhinged and pocket protectors get ripped off.
I'm pretty sure that if you Itemize your tax return state and city income taxes are deductible from your gross income.
But I will check with my accountant this week.
No need to check with lawyers -- there's a special site out there that has answers to many questions:
http://bfy.tw/4azC
http://bfy.tw/4azC
Yes, city and state income and property taxes are deductible from your income for Federal taxes, but not if you are subject to the Alternative Minimum Tax.
Wow....... We really need some stadium news! We have been reduced to discussing the finer points of income tax minutiae..... 
WTF, no mention of calculators as deadly weapon?!?!
CP_Scouse
Registered
So lets talk food for SSS.
Should NYCFC give priority to small businnesses (like Citi Field and Cascarios Pizza) or give priority to large chains (YS and Papa Johns)
Personally i think it should give priority to small businesses. Its just a better awsthetic.
Just to add: i wanna see a heartland brewery in the stadium (like YS and Hard Rock Cafe). It would be cool
Should NYCFC give priority to small businnesses (like Citi Field and Cascarios Pizza) or give priority to large chains (YS and Papa Johns)
Personally i think it should give priority to small businesses. Its just a better awsthetic.
Just to add: i wanna see a heartland brewery in the stadium (like YS and Hard Rock Cafe). It would be cool
Beers brewed in NYC
That's all going to be controlled by Legends, which is the hospitality company started by the Yankees and Cowboys and now does all the top sporting teams around the world.
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