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|Subject: Re: What to do?||Date: 2/1/2012 8:54 PM|
|Author: ferjen||Number: 70081 of 80172|
I am not sure what adding a pool does to reduce FIT.
The pool would be done with a second mortgage, and that interest would be deductible. But, as the previous poster stated, spending a dollar to save 28 cents makes no sense.
I agree this is a good problem to have, but it came on quite suddenly and I'm not experienced in how to deal with it - particularly to not get stuck writing a big check to the feds next year.
Had we known last year, we'd have bumped up our flexible spending account a bit, especially with braces in our near future. :-) There's always next year...but what to do this year? Hmmmmm....
Hopefully, the additional five months of mortgage interest payments and the increase in property taxes will be enough to square us up...
I just want to make sure I'm not missing anything...
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