Posted by ss55 on March 01, 2015 at 20:52:30 from (173.28.18.88):
In Reply to: truck loan posted by 1955 950 on March 01, 2015 at 17:09:25:
Pay off the highest interest loans first.
The mortgage interest can be deducted from your federal income tax and depending on the state maybe state income tax. Check with your tax accountant to calculate your actual tax savings at your marginal tax rate. I.E. if your mortgage rate is 5 percent and your marginal tax rate is 20 percent, the tax savings would be about (5 percent x .20) = 1% reduction, reducing the the equivalent mortgage rate from 5 to 4 percent. Again, check with your accountant to be certain.
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Today's Featured Article - A Tractor's Point of View - by John Manley. I began my life on August 3,1941. I was actually built at different times and days but I was officially an M Farmall on August 3.I was real nice and shiny. That�s me, in the old picture, third from the left. I was loaded on that train and sent to a little town in South Carolina. I didn�t get to see much of that town. I was moved off the train fast and on to the dealer�s
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