Sentences with phrase «people took advantage of this deduction»

But according to data from the Internal Revenue Service (IRS), 12 million people took advantage of this deduction in 2015.

Not exact matches

Second, high - income people are more likely to buy homes and more likely to buy expensive homes that take fuller advantage of the deduction.

Almost two - thirds of those who take advantage of home loan tax deduction are middle income earners and 91 % of people who claim the deduction earn less than $ 200,000 per year.

Usually, people who don't have a mortgage can't itemize, and thus can't take advantage of all of the available deductions.

Those 15 - year mortgage rates look awfully tempting, but the two arguments people keep making against are that I'll have better cash flow with the lower payments on a 30 - year, and that a longer mortgage lets me take advantage of the interest deduction for twice as many years.

If a person plays his cards right, he could drastically reduce his tax by taking advantage of these deductions.

Home Loan for Renovation: While many people know about the advantage of declaring home loan for tax exemption, very less people knows that home loan taken for reconstruction and renovation is also eligible for tax deduction.

Survivorship policies can be a cost - effective way to insure two people, and they allow you to take full advantage of the unlimited estate tax marital deduction.