Quote:
Originally Posted by amanda6035
So..... buying a house when you'd rather rent simply to claim a mortgage interest deduction is stupid, as is not paying off your home because you'd lose the deduction. Yeah, let's pay the bank $10,000 so I don’t have to pay the government $2,500.... 
If you dont have a mortgage and want to "save" that $2500 that you would owe to the irs, donate $10K to your church or a charity, and be done with it. |
Quote:
Originally Posted by Xidelt
Maybe it's time to have a kid to get the child tax credit!
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Quote:
Originally Posted by preciousjeni
NOT THE ANSWER.
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Agree, preciousjeni, agree.
My husband and I bought a house not to get a mortgage interest deduction, but because
we want to own a home. We have a nice house in a nice quiet neighborhood. We have room for entertaining. I have space for my home office. We'd have enough room to raise children if we'd chosen to go that route. The mortgage interest deduction is icing on the cake, but it's some pretty damn good icing, and it would be silly to leave that money on the table.
Similarly, a couple should have a child because
they want to have a child, not just because they'll get a break on their tax return for having a child.