Do you use the mortgage interest tax deduction (MID) as a marketing tool to encourage prospective buyers to purchase a home? Is a form available for the disclosure? Share your comments below!
Yes. It is a standard practice. (79%, 68 Votes)
No. That is not my duty. (21%, 18 Votes)
Total Voters: 86
This article examines the arguments for protecting the mortgage interest tax deduction (MID), reveals who truly benefits from the subsidy and questions both its viability and actual use as a marketing tool by real estate brokers and agents.
They doth protest too much
One of the most contentious debates in the real estate industry is over the mortgage interest tax deduction (MID). Arguments on this issue quickly turn political, with MID proponents coming from the right’s low-/no-tax camp and those rallying for repeal of the deduction firmly entrenched on the high horse of the left.
Proponents of the MID argue it:
provides tax relief for the middle-class; and
generally limits the government’s reach into the taxpayer’s pocket.
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