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Real Estate
Reply to "How does a single person buy a house around here"
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[quote=Anonymous]OP, you need to think about a couple of things and what it means for your true after-tax income. First, mortgage interest is tax deductible...your' $10k monthly payment is say $6500 mortgage which is mostly interest in the first 10 year. So, you will be receiving a $78k tax deduction. 2nd, they increased the SALT deduction to $40k. So your state tax and property tax on your income level will be mostly deductible. So, you will now have call it $118k of tax deductions, which on your $350k income will result in call it $30k-$40k less in taxes.[/quote]
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