Home-related tax breaks are valuable on 2017 returns, will be less so for 2018
Wolff and Taylor April 2, 2018 No Comments Share
Small Business02 Apr
If you own a home, you may be eligible for several valuable breaks when filing your 2017 return. But under the Tax Cuts and Jobs Act, your home-related breaks may not be as valuable next year. Affected breaks include deductions for property tax, mortgage interest, home-equity-debt interest and home office expenses. Also, a mortgage-insurance premium deduction and a debt forgiveness exclusion expired Dec. 31, 2017, but they might be extended. We can help you determine which breaks you can claim on your 2017 return and how your 2018 tax situation may be affected.
Previous Article
2023 – 02/07 – Answers to your questions about 2023 limits on individual taxes