Make Your January 1, 2009 Home Mortgage Payment Today to Cut Your 2008 Taxes

Bungalow Photo by Petr Kratochvil

I know I should have thought to post this earlier, but only just remembered to pay my own mortgage now instead of tomorrow. If you own a home and have not yet made your mortgage payment due on January 1, 2009, do it now before 2008 is over. This could cut the income taxes you will have to pay in April 2009 for you may be able to take a deduction for mortgage interest paid in 2008.

I am not a tax expert and there are some limitations, (i.e. if you deduct your Jan. 2009 mortgage interest from your 2008 taxes, you can’t do it again for 2009, if your 2008 income exceeds a certain amount), but here is a link to an article on MSN Real Estate which might tell you if you would benefit from doing this:

Early year-end mortgage payment could cut taxes

If you pay your mortgage online, do it now as our bank’s website is super slow today, perhaps due to the rush to customers trying to get their payment in before the year ends.

Happy New Year!

Holiday Blog Carnivals

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Pecuniarities participated in 3 blog carnivals last week.

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Free Printable Templates: Holiday Snowflake Gift Tags, Treat and Mini Carrier Bags

Free Printable Template Christmas Winter Holiday Mini Carrier Gift Bags Snowflakes on Blue SkyHere are some free printable templates for Holiday gift bags and tags designed by Madoline Hatter. Feel free to print them for your personal use. This is a snowflake design on various shades of blue background and includes carrier bags, treat bags and gift tags.

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