It's tax time again and lots of us are burning the midnight oil looking for every deduction possible. First, there's the Tax Reform Act of 1986 allowing interest deductions on loans secured by one's home. Thus, a new kitchen or bath or needed repair can pay off in more ways than one. If a home's equity was used to pay for remodeling or repair, loan interest might be deductible, lowering taxable income. Also, an improved or repaired home pays off again at resale time with increased value, and it pays off once more if you save receipts for improvements and repairs. Dollars spent increasing the cost of your home, in turn, lower capital gains with big savings when you sell your home. It's why, if you drive past the White House, you'll see the president up late too, adding up bills for painting and repairs. You save a million here, a million there -- and it really starts to add up. And that's the On The House tip for today.