Written by Robert H. Ruth
The answer to that question is not completely known as of yet, but there are several areas of the final legislation that will affect people who own real estate. This post will attempt to look at several areas in a bit more detail.
- As with any bill before Congress, there were groups who tried to gain an advantage or defend the position they believed would be affected by the proposed legislation, and this bill was no different.
- Since I am not an accountant, I will not give any advice in that area in this posting. If you have specific tax questions you should consult a tax professional.
The biggest changes in the law that will be felt by homeowners have to do with mortgage interest deductibility and…