My husband and I spent over 8 hours last Saturday doing our taxes – self-employment definitely creates more work and I haven’t seen a 1040EZ since I was 25.

Using Turbo Tax you see at the top of the screen in a red box “Federal Tax Due” and a dollar amount. It wasn’t until we entered our mortgage interest and our PMI payments that we went from a red box to green and a Federal Tax Refund. Reaffirming once again what a great asset (although it is a huge debt) a house is to have.

From today’s Realty Times:

Your home likely provides more tax relief than any other acquisition, thanks, in part, to new federal laws designed to ease financial suffering in the recessionary economy.

Read New Tax Breaks on the House by Broderick Perkins