Talk of The Villages Florida - View Single Post - Interest portion of bond payment tax deductible?
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Old 10-15-2012, 04:39 PM
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Quote:
Originally Posted by KeepingItReal View Post
You pay 100% in interest ($100.00) to get a possible 28% ($28.00) tax deduction. Better to pay $28 in tax than $100 in interest. Keep the remaining $72 in your bank account.
My point was I NEED more deductions 'cause my piddly interest on my mortgage doesn't cut it anymore, and no more kids to claim, or work expenses. So if I could come up with more deductions from something I already am paying for it would be a bonus.