interest payments

Home Mortgage Interest Deduction: Should You Take It?

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Home mortgage interest is tax-deductible, but people often have misconceptions about who benefits from this deduction and how helpful it truly is. It’s important to remember that the tax rules recently changed due to the Tax Cuts and Jobs Act, as well. These changes altered the standard deduction, which in turn impacted the mortgage interest … Read more

Is Personal Loan Interest Tax Deductible? Is The Loan Taxable Income?

personal loan tax

Depending on what you’re borrowing money for, a personal loan can amount to a fairly large sum of money. It’s important to understand the tax implications of receiving this money and of paying it back. In some cases personal loans don’t have any tax implications at all, but in others they can alter your tax … Read more