08-09-2006, 09:14 PM
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$ Saving HS Sophomore
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Join Date: Jul 2006
Posts: 171
Points: 1130.00
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Re: Want to lower tax refund amount but how?
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Originally Posted by getforfree
Is there any limit how much you can write off? I will need to write off my mortgage interest, some work expemces, donations,and other stuff.
I was thinking. If there is no limit, maybe I can prepay my mortgage ahead in december this year, to claim more for this year; and then take standard deduction (which is like 10k ) for next year, while next years write-off would be worth only like 6K. Does anybody knows anything about that?
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You can only write off the INTEREST on your taxes. |