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Avoiding taxes and utilising tax minimisation strategies keeps value with you, but it also distorts your consumption in other ways. EG you are incentivised in t
by ikr678 5y ago
Avoiding taxes and utilising tax minimisation strategies keeps value with you, but it also distorts your consumption in other ways. EG you are incentivised in the US to purchase more housing (via mortgage interest deduction) than you might want or need.
- lotsofpulp 5y agoMortgage interest deduction is not utilized much anymore since standard deduction was increased in the 2017 tax changes. You have to itemize to get it, and only 11% of tax filers itemized in 2019. There is a statistics page that shows this on its.gov, but I am on mobile and it is too much work to find it.