Will you actually benefit from the Mortgage Interest Deduction? One of the many mysteries of home buying and home affordability is how much [...]
Home buyers and home owners often think they will benefit from mortgage interest deduction, but many times they don't. How can you tell if you will or won't?
There are a number of tax benefits available to homeowners, such as mortgage interest deduction. However, the only way to know the precise tax value of any economic decision is to prepare a tax return for the taxing agency (or all of them) first without including the economic decision and then prepare it again including the economic decision. The difference between these two outcomes is then the exact value of the tax benefits associated with the decision.