Comments on: Your Home a Big Tax Break? Doubt It

By: 642-812

642-812 — Fri, 15 May 2009 10:53:25 +0000

take full tax advantage of your home, your taxes will likely get more complicated. In most cases, homeowners itemize. That means you’re not living on “EZ” Street anymore; you’ve moved to the 1040 long form and Schedule A, where you’ll have to detail your deductible expenses.

By: 2009 Taxes

2009 Taxes — Fri, 27 Feb 2009 14:17:31 +0000

It's a little bonus and that is all. But it beats renting if you can afford it. There's appreciation most of the time and there's also mortgage paydown. So those three things added up can be a decent number. 2009 Taxes´s last post:2 Important Changes in the Tax Law this Tax Season

By: Allen

Allen — Wed, 06 Aug 2008 23:33:22 +0000

Your post is very informative. I am impressed with the layout of your article. Keep up the good work!

Thank you.

Barry

By: Finance news

Finance news — Tue, 22 Jan 2008 13:23:49 +0000

Nice post, laying out the figures in an easy to understand manor.
The old saying ‘no such thing as a free lunch’ certainly rings true in this world usually.
Everything is structured so that you cant get anything for free, it really hacks me off! On the grand scale of things the saving isn’t really a big percentage is it?

By: Tax Rebate

Tax Rebate — Fri, 04 Jan 2008 15:34:23 +0000

I think the problem is that the government makes the tax coding and the tax system in general complicated so that people are ignorant on how to claim any refund back.

By: Apparently I Feel Differently About Debt ... Irregular Payments

Apparently I Feel Differently About Debt ... Irregular Payments — Tue, 05 Jun 2007 15:43:41 +0000

[...] If you are like most, and the only reason you qualify to itemize is because of mortgage interest, the ’savings’ is likely much less. Personally, we don’t see any advantage at all because we won’t itemize either [...]

By: Should You Enroll in an Accelerated Mortgage Payment Plan? « Irregular Payments

Fri, 17 Nov 2006 22:09:10 +0000

[...] With this month’s mortgage bill, we also received an offer to join our lender’s Accelerated Mortgage Payment Plan. Using it, they claim we can settle our 30-year mortgage seven years early while saving a sizable amount in interest payments. And indeed it would, as we would be paying half our payment bi-weekly – instead of once monthly like now – which is 13 full payments a year (52 weeks bi-weekly equals 26 half payments equals 13 full payments) instead of the normal twelve. That one extra full principal payment does wonders, especially early on when almost everything you pay is eaten up by interest. A little pain up front yields incredible returns later. (That is, if you consider not having a mortgage payment incredible returns. I, for one, do even though I know there are those of you out there who do so love that mortgage interest deduction.) [...]

By: Financial Freedumb - Sometimes it takes a little bit of dumb to achieve financial freedom. » Friday! Update: Home Tax Break, Smoking, and Panhandling 04.21.2006

Thu, 27 Jul 2006 09:28:32 +0000

[...] I’m starting the process of purchasing a home, although I’m probably not going to become very serious until next year. I ran across a post that shed an interesting perspective on the tax advantages of home ownership. It’s something I was curious about for some time…take a look, it’s got good details. Which reminds, me congrats to SingleMa too and her home purchase! [...]

By: Financial Freedumb

Financial Freedumb — Thu, 20 Apr 2006 21:26:39 +0000

Wow, great post…Putting a firm number on the tax advantage is an eye opener…