Mortgage Intrest Tax Writeoff ?
Can someone please explain in simple terms how the mortgage intrest tax writeoff works and how it may be beneficial to carry a mortgage and pay intrest. For some reason I am not grasping the theory that it is better to have a mortgage on my house than not. Isn't the tax deduction only a percentage of the intrest that you actually pay? If I paid $10,000.00 in intrest I don't get to write off 100% of that do I ?
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