Title Image

How will Tax Reform Impact the Mortgage Interest Deduction?

How will Tax Reform Impact the Mortgage Interest Deduction?

Tax reform has been a major issue in the United States this year. When President Trump was on the campaign trail, he promised a better tax code that would make the United States more competitive with other nations.

Over the past few weeks, the tax code has been refined and changed through vigorous debate. It looks like the tax reform bill will be signed into law by President Trump soon.

As a taxpayer, it is critical to understand the key changes to the tax code. Some people wrongly assume that the tax code will completely change. In reality, there are just a few key variations to consider.

Standard Deduction

The standard deduction is a fundamental deduction that everyone has the option to use. When filing your taxes, you have the option to itemize your deductions or use the standard deduction. With the new tax reform bill, it is likely that more people will use the standard deduction because it doubled in size.

For people who itemize their deductions, it may make more financial sense to move to the standard deduction. You can itemize expenses like mortgage interest or student loan interest. For people who do not have various deductions, the standard deduction makes the most financial sense.

Mortgage Interest

The mortgage interest deduction is the most common deduction used today. It is most often used by people who own a home with a large mortgage payment. Although the mortgage interest deduction is still available, fewer people will use it when they file their taxes for 2018. There are a lot of people who struggle to understand the tax code. This is why working with a professional tax planner is so important.

Coming Soon!

The New Private Eyes Platform.

Background Checks | LegacyLender Solutions | Login

For any questions contact us at (925) 927-3333.

Site Security Notification

 

Use the buttons below to continue your login.

For SITE SECURITY purposes and to ensure that this service remains available to all users, this computer system employs software programs to monitor network traffic to identify unauthorized attempts to upload or change information, or otherwise cause damage. Unauthorized attempts to upload information or change information on this service are strictly prohibited and may be punishable under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act.

NOTICE: We will not obtain personally-identifying information about you when you visit our site unless you choose to provide such information to us.

Point of Contact for Security and Monitoring: Frank Santa Elena email: security@pebackgroundchecks.com Information Systems Security Officer (ISSO) for www.privateeyesbackgroundchecks.com phone (925) 927-3333.

For any questions contact us at (925) 927-3333.

Find the Right Lender Solution

Fill out the information below and we will contact you or call us at 925-927-3333



First Name*
Last Name*
Email*
Phone*
Company*
Street
City
State
Zip Code
Number of Employees
Where did you hear about Private Eyes?

Find the Right Background Screening Solution

Fill out the information below and we will contact you or call us at 925-927-3333.



First Name*
Last Name*
Email*
Phone*
Company*
Street
City
State
Zip Code
Number of Employees
Where did you hear about Private Eyes?

Candidate Assistance

If Private Eyes is running your background check, please contact our Customer Service department. A person on our team will be more than happy to assist you

Email: CSS@pebackgroundchecks.com
Call: (925) 927-3333

Private Eyes Customer Assistance

If you are a current customer, please contact our Customer Service department. A person on our team will be more than happy to assist you.

Email: CSS@pebackgroundchecks.com
Call: (925) 927-3333