http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/ Mon, 06 Sep 2010 15:15:48 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/comment-page-1/#comment-1164 What’s So Bad About Falling Home Prices? - Mortgage Rate News Fri, 12 Mar 2010 15:39:31 +0000 http://www.peakpersonalfinance.com/?p=585#comment-1164 [...] primary residence as a large purchase. A large purchase that you make with debt, no less. Sure, the interest is tax deductible, and sure you might sell for more than you paid. But the interest you pay, property taxes and [...] [...] primary residence as a large purchase. A large purchase that you make with debt, no less. Sure, the interest is tax deductible, and sure you might sell for more than you paid. But the interest you pay, property taxes and [...]

]]> http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/comment-page-1/#comment-1034 Rich Money Habits Carnival: First Edition-Best Money Stories To Jumpstart Your Year! « Rich Money Habits Thu, 28 Jan 2010 06:55:22 +0000 http://www.peakpersonalfinance.com/?p=585#comment-1034 [...] Personal Finance presents Tax Advantages of Having a Mortgage posted at Peak Personal Finance, saying, “Are the tax advantages of having a mortgage worth [...] [...] Personal Finance presents Tax Advantages of Having a Mortgage posted at Peak Personal Finance, saying, “Are the tax advantages of having a mortgage worth [...]

]]> http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/comment-page-1/#comment-1024 Festival of Frugality! | Ultimate Money Blog- Save Green and Live Green! Tue, 26 Jan 2010 10:09:12 +0000 http://www.peakpersonalfinance.com/?p=585#comment-1024 [...] Personal Finance presents Tax Advantages of Having a Mortgage posted at Peak Personal [...] [...] Personal Finance presents Tax Advantages of Having a Mortgage posted at Peak Personal [...]

]]> http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/comment-page-1/#comment-970 Tax Carnival #62: Happy New Tax Year! | Finance Blog Wed, 06 Jan 2010 12:44:35 +0000 http://www.peakpersonalfinance.com/?p=585#comment-970 [...] Personal Finance presents Tax Advantages of Having a Mortgage, posted at Peak Personal [...] [...] Personal Finance presents Tax Advantages of Having a Mortgage, posted at Peak Personal [...]

]]> http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/comment-page-1/#comment-932 New Year Financial Resolution: Refinance Mon, 28 Dec 2009 15:04:03 +0000 http://www.peakpersonalfinance.com/?p=585#comment-932 [...] you pay points when you refinance, you can get tax advantages. Additionally, you will still get a mortgage interest rate deduction after you [...] [...] you pay points when you refinance, you can get tax advantages. Additionally, you will still get a mortgage interest rate deduction after you [...]

]]> http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/comment-page-1/#comment-902 Miranda Tue, 15 Dec 2009 12:46:15 +0000 http://www.peakpersonalfinance.com/?p=585#comment-902 Great strategy! It's all about planning in order to get the best tax efficiency. Great strategy! It’s all about planning in order to get the best tax efficiency.

]]> http://www.peakpersonalfinance.com/tax-advantages-of-having-a-mortgage/comment-page-1/#comment-897 JoeTaxpayer Mon, 14 Dec 2009 21:39:23 +0000 http://www.peakpersonalfinance.com/?p=585#comment-897 One point to note: If the standard deduction numbers are close to the interest and property tax for you, consider the grouping strategy. In odd years, make 13 mortgage payments, i.e. make the January payment due in the next year. Then in even years, you'll just make 11 payments. In odd years, pay your property tax a quarter or two in advance, in even years just make the remaining payments due. In odd years, make a full year's intended charity donations in January and then again in December, this really just means that if you are a year end donor, in the even years delay the donation until Jan 2. This may seem quite the effort, but do the math, it can save you quite a bit of money on your taxes. One point to note:
If the standard deduction numbers are close to the interest and property tax for you, consider the grouping strategy. In odd years, make 13 mortgage payments, i.e. make the January payment due in the next year. Then in even years, you’ll just make 11 payments. In odd years, pay your property tax a quarter or two in advance, in even years just make the remaining payments due. In odd years, make a full year’s intended charity donations in January and then again in December, this really just means that if you are a year end donor, in the even years delay the donation until Jan 2.
This may seem quite the effort, but do the math, it can save you quite a bit of money on your taxes.

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