004 What Tax Law Changes Are Bringing Homeowners in 2018

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In this episode, KT discusses:

  • What a home equity line of credit is and how it’s changed in 2018
  • Variable interest rates
  • Advantage and disadvantages of tax benefits
  • The effects on the average American

Key Takeaways:

  • A home equity line of credit is a second loan established on your home. It’s not your primary mortgage.
  • This line of credit is commonly used for home projects or debt consolidation
  • In 2018, you lose the ability to write off these interests that you paid
  • Ask yourself, what’s the true expense of what you do and what you save?

“Interest on your home equity line of credit WAS tax deductible.” – KT Thomas

Connect with KT Thomas: http://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money 

 

 

Show Notes by Show Producer: Anna Nygren

Audio production by Turnkey Podcast Productions. You’re the expert. Let us help you prove it.

About the author, Kathleen

Kathleen Thomas, who often goes by KT, has over 25 years of experience in the financial services industry and understands the need for women to take control of their financial lives.

A Certified Investment Management Analyst, Chartered Life Underwriter, and Certified Financial Planner™ practitioner, Thomas earned her degrees in Finance and Political Science from Salem College.

Prior to founding NewDay Solutions, an independent Registered Advisor Firm, Thomas spent 20 years as a private wealth advisor for Ameriprise Financial Services. Many of her earliest clients continue to work with her.

Thomas is an avid long-distance runner and triathlon participant. She has completed the Boston Marathon seven times and the Ironman Distance Triathlon three times. She has volunteered as coach and mentor for Girls on the Run New Hampshire and Team in Training.

Raised in Newton, Massachusetts, Thomas now lives in Seabrook, New Hampshire, with her husband, John. They have one daughter.

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