Taxes

Every year I gripe about taxes. Usually it's because the amounts I spend on healthcare, charity and etc can't be itemized because they didn't exceed the standard deduction. I shouldn't gripe because I get to deduct more with the standard amount, but still...it's just the thought. This year that's different. Mortgage interest really boosted the amounts of my deductions and for the first time ever I had enough to itemize everything. Woohoo! However, my biggest discovery this year was the revision that was made to the student loan interest deduction law. When I started repayment of my student loans, the law was that I could only deduct the interest in the first five years of repayment. Then I'd be up a creek without a paddle. The year 2005 would mark my fifth year so I looked up the law again, just to find the information to print out. I discovered, instead, that the law was revised in 2002 to allow interest deductions for the duration of the loan. Yes! I want to know who caused that revision in the law, because that person will definitely have my vote! My interest deduction this year meant the difference between paying in and getting a refund. I'd rather get a refund. ;)