Special savings account for buying a house?
scorpiomaj27 asked:
Simple question. There are all kinds of special accounts for saving for retirement, school for your kids, school for you, health, is there anything tax-preferred or generally better for saving for a home downpayment?
Todd Baier
Simple question. There are all kinds of special accounts for saving for retirement, school for your kids, school for you, health, is there anything tax-preferred or generally better for saving for a home downpayment?
Todd Baier
Doesn’t exist. You get some huge tax deductions once you buy the house. That’s all the government is going to give you.
No, but you do get to deduct the interest on the mortgage from your taxes.
Yes, its called a savings account. lol sorry but I couldn’t resist. unless you want to get riskey go into stocks that are sure winners. there used to be a cristmas account but I dont even think they have them eather.other than that go out west and pan for gold,, they really do pan for gold. good luck April