You are assuming no charitable contributions and also no state income tax.That is not correct. 690k at 6.75 is about 47k + 10k salt - 29k standard deduction will make it 28k. Only 28k is itemized. 400k HHI is 24% federal.5%, possibly less.It's a guaranteed 6.75% return.
Hence, tax saving is 28k * 0.24 = 6.7k . Which makes effective rate to be 5.7%.
Statistics: Posted by CletusCaddy — Mon May 27, 2024 12:24 am — Replies 16 — Views 1031