Tax reform has caused a lot of confusion in 2018 for taxpayers, tax-preparers, and homeowners looking to deduct home loan interest. The recent Tax Reform Act has caused consternation for taxpayers, tax-preparers and even syndicated columnists. In a recent column, we addressed the issue of the deductibility of interest in an equity line of credit [...]
What happens when property is promised to you but not written in the will? Depending on how the will is written, you may be out of luck. Here’s what you should know. Q: My father told my dying sister her husband would receive her portion of his estate, including his house, in the presence of [...]
Buying a home under the new tax laws can be a daunting task, especially since we still have so little information. Here is what you need to consider before buying. Q: I just read your article on what to expect in the real estate residential market for 2018. I liked your perspective and have a [...]
Ex-spouse uses home equity line of credit. If you didn’t change the name on the account during the divorce, they could be using your HELOC, and hurting your home’s worth in the process. Q: Can my ex-husband refinance our home equity line of credit (HELOC) without my consent? I have a signed quit claim deed [...]
Can selling inherited property affect your healthcare subsidy? Depending on the value of the property, it could. What you should consider before selling. Q: When my mother purchased her small condo 20 years ago she put it in my sister’s name and in my name. She passed away a few years ago and my sister [...]
Landlord rights when a tenant breaks the lease vary based on the wording of the lease agreement and state regulations. Here’s what you need to know. Q: I have tenants who signed a six-month lease last month. A few days after they signed, they informed me that they just bought a house, and would like [...]
Filing income taxes when you move out of state can quickly become complicated. Consider all of these factors before you file. Q: We sold our house in Connecticut and moved to Virginia. Do we have to file income taxes in both states? Our house was sold in end of July of last year and we [...]
Having your bankruptcy recovery plan in place before filing will help you get back on track to rebuild your credit post-bankruptcy. This is how to get started. Q: My husband and I are going to file bankruptcy within the next 2 to 3 months on our personal accounts and our business. What is the best [...]
Tax rules when buying a condo for your college student can get complicated, especially with capital gains taxes. Here’s what you need to know. Q: We bought a condo in our name and paid for it with cash. Our son moved into the unit and paid no rent for 18 months. He was working on [...]
How the new tax law affects retired homeowners will vary greatly depending on the state the homeowner lives. These are the basic rules retirees need to know before buying or selling. Q: I am a regular reader of your column for many many years. I am a senior, widowed and have some retirement income and [...]
