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Old 02-08-2013, 11:29 AM   #9
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cmarsh31
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Re: When the house is paid off... then what?

Quote:
Originally Posted by SenoraE View Post
Thank you for this thought!! I will ask our tax guy this year how it would impact us if we had $0 interest to deduct. I know this year it was $5k+ on the mortgage tax paperwork that came through. We already have 0 deductions, but perhaps we can add to the amount getting taken out for the following year... maybe even $25 each per pay, which would be $100 / month would help!
I don't even what to think what we had to deduct this year... (I did our taxes so I know, but it's HUGE because we just bought this house last year ) but that was the thought I've been having reading all these threads about paying off houses - yes, we're paying interest but we don't even get a child tax credit, it's literally our only deduction.

I'm with you on the pension - here's to hoping the NYS Teachers retirement pension holds up too! (also NOT depending on it )
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