Will the interest paid on a home equity loan be deductible under the new tax law?
- David Greene
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The answer really depends on the purpose for which you used the loan proceeds. The new tax law suspended from 2018 to 2026 the deduction for interest paid on home equity loans, home equity lines of credit and second mortgages. However,…
Is it worth mortgaging my home to get a tax deduction?
- David Greene
- Comments Off on Is it worth mortgaging my home to get a tax deduction?
In my opinion, you should never incur debt for the express purpose of lowering your taxes. At this time it is true that people who have a mortgage get to take a deduction on their taxes; however, they only deduct…