New tax law provisions for housing: 2017 vs. 2018 rules If you are wondering how the newly enacted tax bill will affect your 2018 tax returns, you are not alone. Mark Wells at Preferred Financial Services lists some significant changes in the way residential property will be treated for tax purposes. Primary-residence interest deduction—2017 allows […]
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VA loans benefit veterans, active duty, and long-term reservists Since World War II, the federal government has provided a mortgage loan benefit for those who have served in the U.S. Armed Forces. Originated under the GI Bill, this program is generally referred to as a VA (Veterans Affairs) loan. It has several advantages over other […]
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Home equity lines and the new tax laws Just before the end of 2017, Congress passed a comprehensive tax bill that changed the landscape of mortgage interest deductions. For homeowners with home-equity lines, commonly known as HELOCS, the changes may warrant a reconsideration of how to best manage that debt. Here, Mark Wells of Preferred […]
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