In order to take advantage of the mortgage interest tax break, we have to itemize and file Schedule A of Form 1040 to prove we have tax deductions amounting to over $29,200, which is the standard ...

The interest you pay on your mortgage could help you lower your taxes. With the mortgage interest deduction (MID), you can write off a portion of the interest on your home loan, lowering your ...

Eligibility for federal student financial aid is primarily based on income as reported for tax purposes. However, tax-exempt ...

This tax season, my household is claiming the mortgage tax deduction. Last year, we paid a lot in mortgage interest -- more than we ever have as homeowners. However, the hefty amount we paid can ...

The new administration and Congress are working towards an extension of the 2017 Tax Cuts and Jobs Act (TCJA), the bulk of ...

With tax season here, understanding whether to itemize deductions or take the standard deduction can help you maximize ...

Homeowners have two choices when claiming deductions to reduce their taxable income: the standard or itemized deduction. But ...

The Tax Policy Center examined which cities and states would be the most affected if Congress eliminates the tax exemption.

Owning a home is a milestone of personal achievement. And with Tax Day just around the corner, you might be surprised to find ...

Before you decide to prepay your home loan, you need to understand the penalties, lost tax benefits and liquidity concerns.

Taking a home loan offers tax savings. Understanding the benefits under both tax regimes helps reduce liabilities and ...