Category: Federal Tax

Mortgage Interest Deduction Changes

Mortgage Interest Deduction Changes

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Mortgage Interest Deduction Changes A few changes in the principal residence and second home Mortgage Interest Deduction rules. Mortgage Interest Deduction is used to reduce your income tax liability. For mortgages originated after December 14, 2017, interest on the first $750,000 of mortgage qualifies for the Mortgage Interest Deduction. For loans originated prior to December…

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New Federal Income Tax Bracket Rates

New Federal Income Tax Bracket Rates

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New Federal Income Tax Bracket Rates New Federal Income Tax Bracket Rates There are still 7 tax brackets, 5 have been lowered due to the Tax Reform Bill signed into office on December 22, 2017. Please check with the IRS or your CPA for exact income tax bracket dollar amounts as I have found the…

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