The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/you-are-correct-your-taxes-will-decrease-by-your-14311811.aspx

Subject:  Re: Question Re: Mortgage Interest Deduction Date:  2/9/2001  12:42 PM
Author:  brewer12345 Number:  46045 of 121351

You are correct, your taxes will decrease by your total interest paid times your tax rate. Assuming you aren't affected by AMT, your property taxes should be deductible as well.

I would just have the real estate taxes included in the monthly payment just so you don't have to worry about. You might also want to do some tax planning to see if you can get away with having less withheld from your paycheck.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us