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To: Mike Darancette

I dont understand your question? People whose home has a mortgage can deduct the interest....maybe

People who own mortgaged property used for business (rental or other) can claim the interest as an expense

But yes, you could set up a corporation or a nonprofit foundation to own your home, Rahm Emmanuel did/does this as was determined from property tax records, surely many many sharp lawyers could help set up tax-advantaged shelters for your family home and income. Tax avoidance is how many of the real “rich” became rich and will stay rich

I just read that Ted Kennedy’s widow is “donating” his mansion on Cape Cod to become a nonprofit “retreat” - with lots of room for family vacations...err retreats....at any time, of course


72 posted on 07/20/2011 8:13:47 PM PDT by silverleaf (All that is necessary for evil to succeed, is that good men do nothing)
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To: silverleaf

In case thay drop home owner interest deductions.


91 posted on 07/20/2011 10:04:17 PM PDT by Mike Darancette (Pelosi: Obamacare indulgences for sale.)
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