You’ve likely seen news reports related to tax reform and mortgage interest. While it’s too early to say for certain, many predict the mortgage interest deduction will be eliminated in 2018. If you’re a homeowner, this may affect you.
For homeowners with a mortgage, one thing you could do yet this year would be to prepay your mortgage payment for January, if you’re able. Or, you could make a payment for interest only before December 31, 2017. Either of these strategies would allow you to take advantage of the deduction on your 2017 taxes.
It’s our job to help maximize your deductions or reduce your tax payment through close review of your circumstances and options available to you. If you want to discuss this deduction or other deductions that may match your situation, give us a call at (913) 888-9100.
We can review your circumstances together to come up with a plan for your 2017 tax prep and the documents that will be required to complete an on-time file.