The new tax law removes the ability to deduct interest paid on home equity loans. Will schools ask less of families, and should parents even use the loans to pay for school?

Topics:  tax   pay   home equity   loans   
  • 4 Tax Deductions to Take Right Now Before They Disappear for Good
    With the increasing popularity of telecommuting and working from home, the home office tax deduction is ... could use that money to pay for anything—college tuition, a wedding, you name it. But starting in 2018, home equity loan interest is ...
    02/21/2018 - 10:53 pm | View Link
  • How rising interest rates and tax changes will impact your money (and what to do about it)
    you can no longer write off the interest paid on a home-equity loan or line of credit.) In the longer term, the tax changes will have a big effect on your finances. Most notably, the new legislation almost doubles the standard deduction. That and the ...
    12/22/2017 - 4:23 am | View Link
  • Should someone close a credit card with a $160 annual fee?: Money Matters
    Q: I'm having difficulty deciding whether or not to pay off debt using my home equity line of credit ... HELOC because the interest rate would be lower and you may have the tax deduction as well. You may be paying 20 or 25 percent or more on your credit ...
    01/24/2017 - 4:02 pm | View Link
  • Family finances: Debt is not always a four-letter word
    Interest payments don’t qualify for a tax deduction (except for those on expenses related ... Explore ways to trim the rate, such as transferring the balance to a home-equity loan or line of credit, personal loan, or a new credit card.
    03/4/2016 - 5:01 pm | View Link
  • 30 Tips for Doing Your Own Taxes
    “If you have enough itemized deductions to exceed the standard deduction, itemize; if you don’t, take the standard deduction,” said accountant Eric J. Nisall, founder of AccountLancer. “If you’re not sure, put everything in and let your tax ...
    02/17/2016 - 10:22 am | View Link
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  • Payday loans | ASIC's MoneySmart
    Payday loans. Want to borrow $2,000 or less? Check your options. Need money in a hurry? You may want to take out a payday loan (also called a small amount loan, cash loan or quick loan).
    03/18/2018 - 9:02 pm | View Website
  • New Tax Law: 8 Smart Tax Strategies for Retirees
    Tax reform and changes to the federal tax code will have a big impact on retirement planning in 2018 and beyond. Here's what retirees and preretirees need to know about the new tax law.
    03/18/2018 - 4:20 am | View Website
  • Money Central
    Get the latest headlines on Wall Street and international economies, money news, personal finance, the stock market indexes including Dow Jones, NASDAQ, and more. Be informed and get ahead with our real-time stock quotes, deep tools such as currency converters.
    03/18/2018 - 12:02 am | View Website
  • Taxes Resources |
    Find advice on filing taxes, state tax rates, tax brackets and more.
    03/16/2018 - 10:31 pm | View Website
  • Pay Off Your Mortgage vs Pay Down Your ...
    Should you pay off your mortgage, pay down your mortgage, or simply just make regular mortgage payments?This is a decision facing many of us because one of the biggest purchases we make in a lifetime is a home. Since few of us can afford to pay cash for a house, most of us use a mortgage for the purchase so the majority of homeowners owe money to a lender.
    03/16/2018 - 4:33 pm | View Website
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