Clark County School District’s Post

Quants making $150K to $200K in New York 🇺🇸 Let me share the reality with you 😄😄 Assuming Salary is $150K 😊😊 In this salary bracket, following will be your tax: Federal Tax - 24% State Tax - 6.33% City Tax - 3.88% Total Tax - approximately 34% With 34% deducted, $51K gone straight from your salary 😳😳😳 You are left with $99K 😢😢😢 Now let’s discuss about Rent in New York City 🏙️ Rent - $2500 (I am taking this at a lower end tbh and it’s when you are sharing the apartment ) Yearly Rent - $30K You are left with $69K 😢😢😢 You might be thinking $69K is good for New York City. 😁😁😁 I haven’t include utilities bill, sales tax, property tax, food, shopping, travelling, hospital bills etc 😮😮😮 Pls don’t get fascinated just by seeing the figures of Quants 🙏🙏 Pls look at the ground reality too ✅✅ PS: Lot of my friends stay in New Jersey to save on taxes and enjoys less rent too. 😄😄😄 PSS: The major motivation of this post is to make people understand don’t just look at the salary. Pls see the expenses too. 😇😇😇 #quantfinance #financialengineering #riskmanagement #quantitativefinance #quantmodeler #quantresearcher

Guys - Where’s The Money ? Everywhere in every service of government it seems there is no money and it looks like it will only get worse ! The big lie is constantly perpetuated/ Tax comes from our time and toil No The richest make money from money land and buildings and other investments Yet CGT was reduced by Ozzy Osborne from 28pc to 20pc ! He had a chance to set a roadmap to have parity between CGT and marginal rates for taxing the poverty classes - which we are all heading one step closer to every year due to fiscal drag even if tax isn’t raised directly. I am not red in tooth and claw but the disparity is frankly terrible and it’s getting worse- it will get worse still … The leasehold reform act is going through parliament My thoughts? It will get drastically reduced .. enacted in a diluted form And Kicked into the long grass ! One of the problems is that those passing the laws benefit greatly from the current regime of CGT Leasehold etc. Turkeys don’t vote for Christmas ! Our GINI coefficient is rising The measure of inequality I’ll post more on this later as it’s an interesting indicator

The Workforce Housing Tax Credit Act was presented to the House and Senate last week and has received support from members across all parties. This proposed legislation seeks to empower state housing agencies by allowing them to allocate credits to developers, which can then be sold to investors. The #TaxCreditAct holds the potential to address the pressing issue of #housing #affordability by amplifying the scope of available housing in communities nationwide. #CRE #Aspire

Whilst we may have been focused on the recent budget and how it might impact us on a personal level, I think this article rightly shines a light on the importance of local authorities and the positive impact they have on the communities they serve. This is set against the harsh backdrop of more authorities having to effectively declare themselves bankrupt. This obviously inhibits them in delivering core public services and as has transpired with Birmingham City Council, it looks to be faced with £300m in cuts to services and a 21% rise in council tax over two years. #localauthorities #riskmanagement #gallagher

The Workforce Housing Tax Credit Act was presented to the House and Senate last week and has received support from members across all parties. This proposed legislation seeks to empower state housing agencies by allowing them to allocate credits to developers, which can then be sold to investors. The #TaxCreditAct holds the potential to address the pressing issue of #housing #affordability by amplifying the scope of available housing in communities nationwide. For more insight from Connect CRE: https://bit.ly/3RAGafW

🏠💼 Concerned about rising rent costs in Georgia? It's a hot topic, and there's more to it than meets the eye. Rent hikes are driven by increasing property taxes, homeowners insurance, and maintenance costs for both supplies and labor. These expenses are rising faster than many salaries, posing challenges for residents and businesses alike. It's crucial for policymakers, employers, and communities to collaborate on solutions that promote fair wages and affordable housing initiatives. #AffordableLivinf #GeorgiaRealEstate #RentalMarket #IncomeInequality #PropertyInvestments

Gov. Kathy Hochul has proposed a replacement to the expired 421-a program and an extension to the June 2026 completion deadline for that expired program. What is different here is that the governor wants the State Legislature to enact enabling legislation let New York City offer a tax incentive program for rental construction, subject to affordability and labor requirements. This is an interesting idea. Let's see if and how this becomes law. #seidenschein #nyhousing #nychousing #nycrealestate #nyrealestate #taxincentives #inclusionaryhousing

New York City is grappling with a severe housing crisis characterized by record-low vacancies, soaring rents, and a dire shortage of affordable housing development. The complexity of the issue necessitates a multi-faceted approach involving local, state, and federal governments, alongside partnerships with the real estate sector, unions, and advocacy groups.In a surprising move, the Republican-led House passed the Tax Relief for American Families and Workers Act of 2024, which includes an expansion of the Low-Income Housing Tax Credit. This provision could significantly boost affordable housing in New York City, marking the largest federal investment in this sector in over a decade, contingent on Senate approval and President Biden's endorsement. Locally, Mayor Eric Adams' City of Yes initiative aims to amplify affordable housing access by modifying zoning laws and investing over $22 billion in related programs over the next decade. However, the state of New York, particularly Albany, is urged to address its housing policies, especially after the cessation of the 421-a tax abatement, which has stymied affordable housing construction. Governor Kathy Hochul's proposed 485-x tax incentive is seen as a critical solution to rejuvenate housing production, demanding collaboration and compromises among stakeholders, including real estate developers, labor unions, and tenant advocates. The discussion emphasizes the urgency for a comprehensive housing strategy in New York, reflecting a broader concern for affordability and living standards among New Yorkers. The involvement of every governmental level and various stakeholders is portrayed as essential to overcoming the housing crisis and ensuring diverse, affordable housing availability. #NYCHousingCrisis #AffordableHousing #TaxReliefAct2024 #LowIncomeHousing #CityOfYes #HousingPolicyReform #AlbanyActionNeeded #HousingInvestment

The long-anticipated spring budget has just been presented in the House of Commons. We had hints of new 99% mortgages and amendments to National Insurance, but what was revealed and what are the highlights from today’s announcement that will affect the property market: 💼 National Insurance: As of the April 6th, there will be a further 2% cut from national insurance 💼 Multiple Dwellings Relief: Multiple Dwellings Relief will be eliminated for individuals purchasing multiple properties 💼 Capital Gains Tax: The Chancellor has reduced the higher rate of capital gains tax from 28% to 24% 💼 Holiday Lets: Plans have been approved to eliminate tax incentives that encourage second-home owners to prioritize renting their properties to vacationers over long-term tenants 💼 Inflation: Inflation has come down to 4% and the OBR states that we will reach the government’s target of 2% in just two months 💼 Levelling Up: £20 million has been pledged to community led housing schemes as part of the levelling up program Find out more about today’s budget announcement and the impact that it will have on the property market: https://ow.ly/wss850QMHRi