This is actually for next years taxes.
I know as I am married, filing jointly, I get the standered deduction of like $10,000. I will get EIC, just a little though (2 kids).
My income this year should be around $100,000.(Thing is is that I have total tax liability, no taxes are going to be taken out before I pay taxes, so I will owe.)
If I buy a house this year and I pay cash for it what deductions can I take? Would it be better to get a mortgage? (Cause I know the interest in the mortgage is a deductible.)
Any other way to make deductions work for me and help bring down my tax liability?
Is there somewhere I can go online to find out what the major tax deductions are? (It's next year's taxes so I can't and don't want to go buy a tax program and find out what all 350+ deductions are.) I just need to know what they are now so as the year goes on I know what to do with my money and pay less taxes next year.
2007-02-16
02:21:20
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5 answers
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asked by
♥ Mary ♥
4