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   
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  • The Alternative Minimum Tax and What To Know For 2019
    If the calculated tax on IRS Form 6251 exceeds the tax obligation listed on the regular IRS tax form, you'll need to pay the difference ... individual's standard deduction. The deduction for state and ...
    12/12/2018 - 10:51 am | View Link
  • 6 Smart Ways Taxpayers Can Save Money on Their Tax Bills
    Another way deductions can shift is by prepaying any normally prepaid deduction ... a home equity loan of $100,000 with an interest rate of 5.25% amortized over 15 years will pay roughly $44,700 in in...
    12/7/2018 - 3:04 am | View Link
  • What Is a Home Equity Loan? How It Works vs. a Home Equity Line of Credit
    What is a home equity loan? If you own a home, you can borrow money based on its value to pay other expenses such as home improvements ... (Read: You won’t qualify for a tax deduction if you spend the ...
    11/5/2018 - 10:46 pm | View Link
  • A Money Smart Divorce
    The tax overhaul enacted late last year eliminated the deduction ... and home equity loans is no longer deductible unless you use the money to "buy, build or substantially improve" your home. If, for ...
    11/4/2018 - 10:41 pm | View Link
  • Color of Money Live: Talking with the author of 'Crazy Rich Asians'
    The only thing you might give up if you move is a tax break if you invest in a 529 plan in a state that offers a state tax deduction ... of building up equity. So I would want to pay my half on the pl...
    05/31/2018 - 7:08 am | View Link
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    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 ...
    12/9/2018 - 3:30 pm | View Website
  • Taxes Resources | Bankrate.com
    Taxes . Looking for advice on lowering your federal or state taxes? You have come to the right place. Plus, find news and advice on tax brackets, sales tax, property taxes and estate taxes.
    12/9/2018 - 9:18 am | View Website
  • Tax return tips | ASIC's MoneySmart
    Tax return tips. Getting tax right. It's tax time again so here's our guide to what you can and can't claim in your 2018 tax return, and tips to make lodging your tax on time a breeze.
    12/9/2018 - 3:20 am | View Website
  • The Best Home Improvement Loans of 2018 | U.S. News
    Long-term payments: If you use a long-term home equity loan for a short-term expense, even with a lower APR, you could pay more interest over time than if you had used a different form of financing. Home equity loans are commonly available for up to 30 years, while personal loans typically have a maximum repayment period of seven years.
    12/7/2018 - 12:12 pm | View Website
  • How Do I Know If My Home Equity Loan Is Tax Deductible?
    Looking to tap into your home equity with a HELOC? The GOP Tax Plan may have made this move a lot more expensive. Find out here if your mortgage debt is still tax deductible. HELOC Tax Deductions ...
    03/16/2018 - 12:19 am | View Website
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