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The discount to your mortgage is often quite small since you shouldn't count the entire mortgage interest write-off as a discount, only the amount above the sta
by arc82 16y ago
The discount to your mortgage is often quite small since you shouldn't count the entire mortgage interest write-off as a discount, only the amount above the standard deduction. Also, this discount will shrink over time as your interest payments shrink and the standard deduction rises.
- encoderer 16y agoA very large number of people -- those with kids -- have no trouble getting past the standard deduction
- bzbarsky 16y agoYou mean only the amount past (standard deduction - state taxes), right? Even a low 6-figure income for a single person will get you pretty close to the standard deduction in a number of states (California, say) for just the state taxes. Now if you're married, you have a lot more standard deduction headroom. But you might also have two incomes.