2min chapter

Marriage Kids and Money: Personal Finance for Families cover image

Should We Get an Electric Car? + Paying Cash for a House vs. Getting a Mortgage

Marriage Kids and Money: Personal Finance for Families

CHAPTER

Buying a House in Cash vs Getting a Mortgage?

Before the tax cuts and jobs act of 20 17, a lot more people did receive a mortgage interest tax deduction. But after that act was passed, the standard deduction increased significantly. Evidently, 90 % of americans took the standard deduction last year. So before you can call this tax deduction a true kan, make sure you plann to itemie your deductions. And if you don't an to itemize your deductions, you're not receiving any true tax savings from having a mortgage.

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