It’s income tax season – the perfect time to talk about the tax benefits of owning a home.  That’s a big topic this year, considering that a new tax plan will be going into effect for the 2018 tax year. 

With all the talk about how that plan will play out, one of the biggest points of discussion is how the new plan will affect the deductibility of mortgage interest.  According to this article published in HouseLogic, interest you pay on a mortgage of up to $1 million – or $500,000 if you’re married filing separately – is deductible when you use the loan to buy, build or substantially improve your home.  Get the details here.  Then, if you’re in the market for a new home, consider making the most of your investment with a quality home by Sal Paone Builders!

Tags: home tax deductions, income tax, taxes