Tax reform attacks home mortgage interest deductions

Under the new Tax Cuts and Jobs Act, the home mortgage interest deduction rules did not fare well. And that’s an understatement.

The simple fact is, the loss of home mortgage interest deductions means the cost of home ownership will rise a lot. Ouch!

We’ll tell you the whole sad story when you read my new article Tax Tips: Tax Reform Attacks Home Mortgage Interest Deductions.

You’ll learn exactly how much you can deduct in mortgage interest. For tax-years 2018 through 2025, you won’t be able to deduct any interest on prior or current home equity debt. However, there are certain exceptions that you’ll like as we explain when you read the new tax reform article.
We’ll tell you about the new ceilings on mortgages. Thanks to some onerous changes in the law, there are now two possible ceilings on your home mortgages. We’ll explain them both when you read the full tax reform article.
You’ll learn about the other tax law impacts on mortgages. These concern the use of mortgage money for college education, investment interest, planning for business use, and more. All will be explained when you read the full article.