This Element is an excerpt from The Truth About Paying Fewer Taxes (9780137153862) by S. Kay Bell. Available in print and digital formats.
All you need to know about America’s #1 tax deduction: the home mortgage interest deduction.
For most of us, our home is our biggest investment. It also provides some of our biggest tax breaks. If you have a mortgage, the pain of that monthly payment is eased each filing season when you realize just how much tax-deductible interest you’ve paid. Generally, home mortgage interest is any interest you pay on a loan secured by your home. This is typically....
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