What are the limits on a SALT deduction? After massive tax reform last year, this is the question on many homeowners’ minds. Q: When it comes to the SALT deduction, can you give me a little more information on the limits. A: In the last big tax bill that Congress passed, the law limits the [...]
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 [...]
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 [...]
