Tax Deductible Interest

Tax Deductible Interest

The interest one must pay on a loan that one may also remove from one's income for the purpose of calculating taxes. For example, if one pays $2,500 in interest on a student loan, one may be able to remove $2,500 from his/her taxable income. Mortgage interest is often tax deductible.
References in periodicals archive ?
subsidiary's books would give rise to tax deductible interest payments, generally without limitation.(2) Additionally, the interest payments by the U.S.
Owning a home and purchasing it with a low down payment loan can maximize tax deductible interest, increase homebuyer savings and provide the best tax shelter for most Americans.
Acquisition indebtedness may create tax deductible interest on repair of a home destroyed by a casualty.