Tax Changes for Bay Area Homeowners

It’s almost tax day and with the new tax plan there are some big changes that you need to know about. Check out our latest video to learn about tax changes for new and future homeowners.

Beginning in 2018 homeowners will no longer be able to deduct the following:

  • State income tax and property taxes above $10,000 per year in total;
  • Mortgage interest beyond interest on $750,000 of acquisition debt, if you purchase a new home
  • Mortgage interest paid on equity debt (Home Equity Credit Lines, Home Equity Loans, etc.)

Special thanks to Measured Results Accounting Services for the information. If you’d like more tax tips, make sure to check out Tyler McBroom on Instagram @TylerMcBroom or https://www.instagram.com/tylermcbroom/

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