What is the Least Used and Most Flexible Financial Tool?

The Home Equity Line of Credit is the least used and most flexible financial tool available today! A Home Equity Line of Credit (HELOC) is a revolving credit line that uses your house, and the equity in it, as collateral. For many Americans, the largest portion of their wealth is trapped in their houses and their Read More >

Are You Guilty of Tax Avoidance?

Proudly, I am! What is the difference between tax avoidance and tax evasion? About 10 years…in jail! There are many legitimate tax deductions and strategies that purposely exist in the tax code for our benefit. Many people refer to these as loopholes. I don’t like referring to tax deductions and strategies as Read More >

Did You Know Tax Deductible Interest Actually Reduces An Interest Rate?

In a post entitled “How Can Itemizing Deductions Affect a Homeowner’s Income Taxes?” I introduced a couple named Joe & Mary and demonstrated how, under current tax law, the tax treatment of mortgage interest allowed them to reduce the tax they otherwise would have paid and keep more of the money they earn. The tax Read More >

How Can Itemizing Deductions Affect a Homeowner’s Income Taxes?

I am often surprised to find out how few homeowners actually understand how the tax benefits of owning a house affects them. So much so that I am compelled to write about it and attempt to explain it in today’s post. In order for a homeowner to deduct mortgage interest on their income tax return the homeowner must Read More >

Which Closing Costs Are Tax Deductible When You Purchase a House?

Many first time homebuyers are told there are tax benefits to owning a home, however, few people can explain what those tax benefits are beyond the tax-deductibility of mortgage interest. In fact, many homeowners aren’t even aware of the tax benefits. The benefits are slightly different for purchase transactions than Read More >