So in between cleaning the house today I devoted time to filing our taxes. A little while in it became pretty obvious that there's a strong policy in favor of marriage and in favor of home ownership. We always talked about this in tax class, but having never been married or owning a home until last year, I just sort of took it for granted. Well I saw how thing would've shaken out without being married or owning the home and now I'm pretty happy with both decisions. Ha! All this being said, I think things could be a little better. For instance, why do we eliminate a credit for mortgage insurance premiums once people make a certain amount of income per year? The only reason we, and I mean my wife and I personally, have mortgage insurance in the first place is because we devote a large chunk of our income towards student loans and not towards a nice down payment on the house. This only leads to another point, why do we limit the credit for student loan interest? Married couples filing jointly only get a credit of $2500 paid towards student loan interest per year. That's absurd. One of my law school loans managed to cover this. I hear all the time how the federal government is in favor of people owning homes but are they not equally in favor of people pursuing higher education? It just seems silly to me.The one bright side of the tax ordeal today was that TurboTax made it relatively uncomplicated. So that's something.
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