The benefit of not paying the payroll tax on social security is obvious to most people, but what will that tax break cost you?  If you are already a home owner, and don't intend to move, you're in good shape.  However, if you intend to buy a home, you'll be looking at a 0.125% to 0.25% increase in interest on your new government insured loan, and that's just for the current two months of the tax break that's been approved by Congress and signed by the President.  All this happens in March.