Mortgage Interest Deduction

Latest Federal Tax Plan Bites Home and Second Home Owners

By Jon Anderson / November 8, 2017 /

Here’s the net-net of the proposed Republican plan to “lower” our taxes. Mortgage interest deductions would be capped at mortgages $500,000 or less (half the current $1 million) for primary residences. Mortgage interest deductions for second homes would simply vanish. You may be thinking this doesn’t sound bad and you may be mostly right. While…

51% of Americans Pay Zero Income Tax: Get Ready for DC to Target the Home Mortgage Deduction

By Candy Evans / July 13, 2011 /

Texas Senator John Cornyn is aflutter over this factoid: 52% of Americans pay zero income tax, he says? Say what? That’s way higher than I would ever dream! The Joint Committee on Taxation, which scores the cost of tax legislation for Congress, pointed this out in a recent report. The committee’s report further showed: While 22…

Case-Shiller: U.S. Down, Dallas Treading

By Candy Evans / February 22, 2011 /

I’m just going to say it: is this administration trying to KILL OFF the U.S. housing market? By now, if you are in the real estate business, you are thinking about serious drinking. Save the calories if you live in Dallas: we did OK. Not great, but OK. The S&P/Case-Shiller report says overall, the nation’s…