odoreater
Distinguished Member
- Joined
- Mar 2, 2005
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There are tax deductions for owning property?
I thought you got taxed on your properties.... Do the two offset each other? Do you come out ahead or behind?
Next year, after I buy my house, I will come out a few grand ahead on my taxes by virtue of owning a house. But, buying a house for just the tax benefit is kind of stupid becase at the same time you are paying interest, so really you are paying X amount of money to save 33% of X (or replace 33 with whatever your tax rate is).