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대체로 고루한 이민자: 고루한 사전을 찾아 보아도 정확한 Definition을 모르겠읍니다.

그래서 님께서 한국어를 잘 이해 못하신가 하여서 여기 다시 적읍니다.
도움이 되었으면 합니다.


Thank you for reading and responding to my posting. I appreciate your time and effort.

I was hoping that you would gain some knowledge about the tax benefits of owning a house. However, I don’t believe the long-term benefits are clear to you. So, again, I will explain the benefits.

I agree with you in your last reply in regards to paying your income tax. But, I was trying to tell you that when you own a house you can REDIRECT paying your income tax to your mortgage payment instead of paying to the IRS. Of course, you still have to pay income tax after your allowable deduction.

Now, let’s compare the same scenario of making $120k a year and owning a million dollar house with a loan of $900k vs. renting a house for $2,000 per month.

First, how much does it cost when you are renting?
$2,000/ month $24,000/ year.
Federal income tax: $8,440 plus 25% of the amount over $61,300
= $8,440 + $14,675 = $23,115
State income tax: 9.3%= $11,160
Tax amount when you rent is $34,275
When you are renting, you are paying for total of $58,275 per year.

Second, how much does it cost when you own a million dollars house?
$900,000 interest: $58,500/ year
Property tax: 1.25% of purchase price: $12,500/ year.
Total deductible amount: $71,000/ year
Since your deductible is $71,000 your income tax bracket is 15%.
So, you pay $1,510.00 plus 15% of the amount over $15,100 which is $5,085
State income tax: 9.3% of =$4,557
$1,510 + $5,085 = $6,595 + $4,557+ $71,000 = $82,152 per year.
When you spend $23,877/ year or $1,989.75/ month, you can be a home owner.

As you can see in the above example, for about $2,000 more per month, you can own a million dollar house. In the long-term, you are saving a lot of money. Therefore, it is much more beneficial to own than to rent.