Tax Law (Questions About Taxes)/tax


I'm not an expert in taxes. I pay a mortgage on my house. How can I use the amount I paid in 2015 ($4,000) to pay less in taxes, or reduce income or deduction during tax time.I'm not sure how to say it. Someone told me in no way can it help me during tax time unless I do itemized and have expenses in excess of 10,000. Please help me understand. Also, I paid about 500 in education in 2015. How can that reduce my taxes or income earned.


In order to deduct the interest paid on your mortgage, you must itemize deductions on Schedule A. However, if $4,000 is the extent of your itemized deductions, it would be better to take the standard deduction. This amount varies with filing status but starts at $6,400 if you are single.

You may qualify for an education credit, but I can't make that determination based on the info you provided.

John Stancil, CPA  

Tax Law (Questions About Taxes)

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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