The Whitlock Company, CPAs and Consultants, Springfield Missouri

If you own a home, the interest you pay on your home mortgage may be one of your most valuable tax breaks available each year. The home mortgage interest deduction is a particularly important tax break in the early years of a home loan, when most of a homeowner’s payments each month go toward interest. In addition to home mortgage interest, two other valuable home-related deductions include the “points” (also known as loan origination fees or loan charges) associated the loan as well as your property taxes.