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0 0.000326797385620966 0.000653594771241816 0.00130718954248363 -0.000516339869281003 0 0 0
Stock impact report

'No tax on tips' law may help millions buy a piece of American Dream [Yahoo! Finance]

UMH Properties, Inc. (UMH) 
Last umh properties, inc. earnings: 3/5 04:30 pm Check Earnings Report
US:NYSE Investor Relations: ir.umh.com
Company Research Source: Yahoo! Finance
By allowing workers to claim up to $25,000 in tip income on their tax returns without having to fear paying tax, the law's boosting the declared earnings that lenders use to calculate debt-to-income (DTI) ratios , experts said. DTI is used by the Federal Housing Authority as a critical threshold for mortgage approval. "This is really a game changer for our residents who work in the tip economy," said Sam Landy, chief executive of UMH Properties, operator of manufactured home communities. "They will gain greater access to financing." How could no tax on tips make FHA mortgages attainable? The FHA typically allows people to secure a mortgage if they have a DTI, or housing ratio, of up to 31% . Up to 31% of their income can be used for housing costs, including mortgage payment, taxes and insurance. Here is how math could work for a couple earning tip wages with two kids, Landy said: Before no tax on tips, they reported a combined monthly income of $2,750 in 2024, including tip Show less Read more
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