mortgage interest: How To Increase Your 2009 Mortgage Interest Tax Deduction
- 12/08/09 05:02 AM
For many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid. Knowing that, eligible homeowners can increase their 2009 tax deductions just by making their January 2010 mortgage payment before the end of the year. By paying in 2009, the mortgage interest paid can be applied against 2009's itemized tax deductions even though the payment isn't technically due until 2010. It can reduce your tax burden come Thursday, April 15, 2010. And lest you think you're paying the mortgage "in advance", remember that mortgage interest is paid in arrears; a payment due January 1 accounts for interest that … (0 comments)
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For many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid.
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