Quote Originally Posted by Connect View Post
Hi,
I did not know that you could write off portion of the mortgage payment. ...
Just to clarify - you can only write off a portion of the 'interest' you paid on your mortgage owing and 'property tax' not the actual 'principle' on your house - but it is a huge help ... seriously our interest last year was over $8000 and property tax was almost $3000 ... so getting to write off a portion of that $11,000 reduces your taxable income considerably depending on how much of your house you use for business, hours you work and so forth