Not itemizing next year? Make your Jan 1 mortgage payment by Dec 31

Taking 5 minutes yesterday to follow this advice from the Finance Buff saved me around $300 in taxes: https://thefinancebuff.com/make-mortgage-payment-due-january-1-december.html.

The higher YTD interest paid already posted in my mortgage account today after making my payment yesterday. Easily one of the simplest tax hacks I’ve ever employed.

Though this tax hack is mostly targeted towards those itemizing this year and not next year, if you are itemizing both years you will still probably come out slightly ahead due to the difference in effective marginal tax rates across years.

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