Numerous IRS regulations have been released during the past year clarifying the Tax Cuts and Job Acts of 2017 (“TCJA”). For example, home equity loan interest will be deductible, despite what appears to be clear language in the TCJA that it is not deductible, if the home equity line is utilized for a capital improvement to a residence. Additional IRS rules and regulations will continue to be released related to the TCJA. We are available for tax planning and advice throughout the year.
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