2019 promises to be a doozy. The Tax Cuts and Jobs Act passed last year put 1100 pages of changes in the tax code including an increase in the standard deduction. That change alone might mean that some who used to itemize their returns no longer will. Rob West and Steve Moore have some survival tips for you as you try to sort it all out.
Next, they answer your questions at (800) 525-7000 and Questions@MoneyWise.org about the following:
- How can you be wise in the way you write your wills so that the money won’t damage the beneficiaries or create strife among them?
- If you want to give a $15,000 gift to your adult child to help pay down his mortgage, is there a benefit in terms of mortgage interest in giving it all at once vs. giving it monthly?
- If you just bought a home but also recently had a child and the money is tight, should you should sell the house and rent something cheaper.
- If you own you home outright and thinking of taking out a mortgage to pay for some damage to the house, can you secure a loan on a house that's been damaged?
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