Tag: tax deductions

Despite New Tax Law Buying A Home In Chicago Area Still Better Than Renting

Despite New Tax Law Buying A Home In Chicago Area Still Better Than Renting
Back in February I posted on how the new tax law would affect the rent vs. buy decision. However, I got to thinking that it might be instructive to work through a real example rather than just pontificate from an ivory tower. I was actually a little surprised by the result. Before I dive into... Read more »

Tax Reform Hacks For Real Estate A Bit More Complicated

Tax Reform Hacks For Real Estate A Bit More Complicated
On Thursday I posted some ideas on how to retain the benefits of the mortgage interest and property tax deductions under the new tax law. But I think I oversimplified it a bit so I wanted to backtrack for a few minutes. Let me clarify a few things. First, I want to make sure that... Read more »

Real Estate Tax Reform Hacks: Renting, Buying, And Investing

Real Estate Tax Reform Hacks: Renting, Buying, And Investing
Last week I posted on how the new tax reform law has increased the attractiveness of renting a home vs. buying a home because of the increase in the standard deduction and the $10,000 limit on the deductibility of state and local taxes. As I pointed out in a November 2017 post the real problem... Read more »
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Is The Mortgage Interest Deduction Doomed?

I’ve never quite understood why home mortgage interest is tax deductible. It seems to me like the government shouldn’t be in the business of subsidizing people’s lifestyles – the bigger the home that you buy the bigger the subsidy you get. And this is unlike any other purchase you make. If you buy your groceries... Read more »