Ukrainian Law Blog
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Saturday, June 2, 2018
Should You Pay Off Your Mortgage? The New Tax Law Changes the Math
Now is the time to find out if you are one of the millions of Americans who won’t be able to deduct their monthly mortgage-interest payments.
For 2017, 32 million tax filers got a mortgage-interest deduction. For 2018, that number will drop to 14 million. Americans’ total savings from this break are also expected to fall sharply this year, from nearly $60 billion for 2017 to $25 billion for 2018, according to Congress’s Joint Committee on Taxation.
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