What is the Mortgage Interest Tax Deduction?

There is really only one benefit to crazy high mortgage rates and payments: the mortgage interest tax deduction. Many homeowners are amazed by the size of their annual tax refunds and often wish they had this knowledge sooner. It could have influenced the type of home they bought!

In this video, I will help you understand how much you could be saving on taxes each year thanks to your mortgage. Imagine what you could do with that extra money. Whether purchasing a bigger home, funding a dream vacation, or boosting your retirement savings, this video will empower you with the knowledge to make smarter financial decisions.

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⏰ Timecodes ⏰
0:00 Understanding your mortgage interest tax savings
1:35 How are you taxed?
4:56 What you need to determine your tax savings
5:36 Mortgage Interest Tax Savings Formula
6:23 My Tax Savings Rule
7:00 A Real Life Example: Single Person
7:52 How getting married impacts your interest deduction
8:52 How life decisions impact your finances!

#realestate #taxsavings #mortgage

[Niafunn]

Why don’t you calculate the tax owed on 140000 income then showed the actual refund.

[franjones]

I have a headache. I thought you either itemized OR took the standard deduction. All I know is that since Trump and his bunch passed that last tax bill, I've had to pay, when I used to receive a small refund. Next year I'm going to a tax pro. Maybe I'm missing something when it comes to mortgage interest. Thanks for the info.