It would be nice if deducting home-mortgage interest were a simple matter.
But, of course, it isn’t.
In fact, the rules on deducting mortgage interest are quite complex. If you want to avoid giving Uncle Sam more money than he’s entitled to, you had better know the rules.
Where can you find them? In my new, free article titled Tax Tips: Make Your Home Mortgages Produce Tax-Deductible Interest.
Three ways our fact-filled article can help you:
- We’ll list the six important questions you need to ask yourself now. If you want to see for yourself whether or not you’re in compliance with home-mortgage-interest rules, I urge you to read the full article.
- We’ll tell you what a “residence” is in the eyes of the law. It sounds pretty obvious but the devil is in the details. Is a mobile home a residence? What about a time-share or a house under construction? We’ll answer these and other questions when you read the full article.
- We’ll provide some thoughts on refinancing. For example, when it comes to your qualified residence mortgages, you need to pay attention to the pay-down rule that keeps lowering your acquisition debt. If you take this into consideration, along with the AMT, refinancing can be a bad choice. Get the whole story when you read the full article.