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Life Too Short To Rent?

posted Sep 6, 2009, 3:30 PM by Casey Elliott
By Renting you are throwing away 60% of your income?

Let me show you how paying $1,500 a month in rent will result in you throwing away $45,000 a year!


Renting…
Gross income for the year.
$75,000

Puts you in a 37% tax bracket (federal and state combined)
75000 x 37% = $27,750

Rent is $1500 a month.
1500 x 12 = $18,000

61% of your income is being thrown out the window!!!
27,750 + 18,000 = $45,750

Now we can find you a home with a payment of $2500 a month, lets see what that does for the numbers.


Owning…
Gross income for the year.
$75,000

Mortgage interest for the year.
12 x 2500 = $30,000

Taxable income for the year.
$45,000

Puts you in a 33% tax bracket (federal and state combined)
45000 x 33% = $14,850

There is no way to beat the system, but this is how the system can work for you!!!

Tax money now going toward your future!
$12,900

Rent money now going towards equity!
$18,000

Owning instantly puts all this money that your were throwing out the window towards your future! With out effecting your life style at all.
$30,900

Who can afford not to own a home?

Call today for your FREE consultation.
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