New Trump Administration and Taxes

[Scott McMillan]

Hey all, with all the talk about President Elect Trump's plans to overhaul the tax code it got me thinking.

Trump wants to lower or consolidate the tax rates into 3 tax rates.  Personally I would most likely be moving from the 28% bracket into the 25% bracket.  Alongside this he has discussed eliminating the mortgage interest deduction for your personal residence.  With a republican Senate and House I think he has a good chance of enacting some sort of tax overhaul.

I own my personal residence and one investment property.  My thought was that it would be smart to pay January mortgage payments in December so that I can lock in the deductions for 2016 while tax rates are marginally higher while also locking in the mortgage interest deduction for at least one more month.  Accountants, am I on the right track?

Thanks!