The federal cap on deducting state and local taxes rose from $10,000 to $40,000 for 2025 and $40,400 for 2026, but it shrinks for incomes above $505,000. For many San Diego homeowners, itemizing is worth another look.
The SALT Deduction Cap Is Now $40,400: What It Means for California Homeowners Read More »
The Tax Cuts and Jobs Act has resulted in questions from taxpayers about many tax provisions including whether interest paid on home equity loans is still deductible. The good news is that despite newly enacted restrictions on home mortgages, taxpayers can often still deduct interest on a home equity loan, home equity line of credit
Home Equity Loan Interest Still Deductible Read More »
Selling Your Home, it\’s great to make money on the sale of a home, but. the gain is potentially taxable. The good news is that you may qualify for a generous federal income-tax exclusion. General Rules Single taxpayers may qualify to exclude gain of up to $250,000 if they both owned and used the home
Prepaying Your Mortgage – A Good Decision? in this time of low interest rates, does it make sense to prepay your mortgage? The earlier you pay off your mortgage, the more interest you may save. Even if your mortgage rate is relatively low, it may be difficult to find a conservative investment that would pay you
Prepaying Your Mortgage – A Good Decision? Read More »
