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Home Equity Loan Interest is Still in Play in 2018

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Most of us will agree that our biggest investment is in our home. So, it shouldn’t surprise you that your house or condo is your first port-of-call whenever there’s a need to borrow money. And the easiest way to draw funds against the security of real estate is by arranging a Home Equity Loan.

Home Equity Loans have New Limitations

Home Equity funding helps us in important ways:

  • Number one, the interest rates payable on this type of loan are arguably the lowest available.
  • Secondly, you can get the cash working for you quickly with the least bother, paperwork and tedious protocol.
  • Then there’s the third big reason: help from Uncle Sam.

Up to now all interest payments on a Home Equity Loan were tax-deductible. It made borrowing almost a no-brainer! Who wouldn’t opt for already-low interest rates to be pulled even lower? Benefits like this are rare in our modern world where it seems like everything, including financing fees, are only going up.

Well, it’s time for a retake on the “Uncle Sam thing”: the new taxation laws as per the Tax Cuts and Jobs Act of 2017, enacted in December of the same year, have removed some delectable treats from the traditional “Home Equity feast”.

Is it likely to change your borrowing behavior anytime soon? No, but it should give you pause. There’s a certain logic to it that really can’t be argued with.

Here are the new Home Equity items to keep in mind:

  • The amount you can borrow is tied to the value of the residence, be it a primary or secondary home. The I.R.S. has decided that your total loan value cannot be more than the original cost of the home (plus the cost of substantial improvements) as a start.
  • And in combination with all other mortgages cannot exceed $750,000. So Home Equity lending is not the bottomless well some may believe it to be.
  • Tax breaks haven’t disappeared but at the same time, they simply are not what they used to be. Any Home Equity draws you make from now on have to be used to build, renovate or essentially improve your residence to qualify the interest payable on them for a tax deduction.

On this last point, for example: if you use your new funds to pay off student loans, reduce your credit card debt or splurge it on a vacation, nobody is going to stop you. What they are going to stop is anyone claiming tax relief for this type of expenditure for the foreseeable future.

Don’t hesitate to consult with our professional tax team when it comes to making your Home Equity decisions, or to clarify your thinking on any tax matter. We often see benefits buried under the “strict letter of the law” – we could make a difference.

Inherited an IRA? Look Before you Leap!

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If you inherit a traditional individual retirement account (IRA), you also may inherit a large income-tax burden. How you choose to receive the money will be a

Do Not Pass GO without a Consultation

big factor. If you don’t need the money right away, there are ways you can defer or spread out the tax burden.

When You Are the Surviving Spouse

If you are the deceased IRA owner’s surviving spouse and beneficiary, you have several ways to defer income taxes on the money. One way is to roll over the inherited IRA into your own new or existing IRA. A rollover allows the assets to continue to grow tax deferred until you reach age 70½. Then, annual IRA withdrawals become mandatory.

When You Are Not the Surviving Spouse

The IRA distribution rules differ when you aren’t the spouse. But you can still spread out the tax burden. One option may be for you to receive annual distributions from the IRA based on your life expectancy. This will spread out the distributions — and the taxes — over a number of years. The younger you are, the longer you can stretch out the payments, and the longer the money can stay in the account and benefit from potential tax-deferred growth. This particular option is not available if the account had no designated beneficiary.

Inherited IRAs are subject to potential risks, such as tax law changes and the impact of inflation.

Give us a call before you make any moves, so we can help you determine the right course of action for you.

Bong World: Your Ultimate Guide to Bongsb

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Welcome to the world of smoking accessories where quality meets style, and today we’re diving deep into the bong world collection, specifically focusing on the iconic Bongsb series. Whether you’re a seasoned smoker or just getting started, this guide will help you navigate through the different features and benefits of these top-notch bongs.  

Discovering the Beauty in Simplicity: The Bongsb Lineup

  When it comes to choosing a bong, there’s no shortage of options out there, but the Bongsb lineup stands out for its sleek design and functionality. Each piece in the collection is crafted with precision, ensuring a smooth smoking experience every time. From the classic straight tube to the more intricate percolator designs, Bongsb offers something for everyone. What really sets them apart, though, is their commitment to using high-quality materials that not only enhance your experience but also last longer than most other brands out there.  

Where to Get Your Hands on the Best Bongsb?

  If you’re ready to upgrade your smoking setup, look no further than Shop Cool Grinders. This online store is your go-to destination for all things Bong World, including the entire range of Bongsb. They offer a wide variety of styles, sizes, and colors, so you can find the perfect match for your personal taste and needs. Plus, their customer service team is always on hand to answer any questions you might have, making the shopping process as easy and enjoyable as possible.   Navigating through the vast array of smoking accessories can be overwhelming, but with our guide and the high standards set by Bong World, you’ll surely find the right fit. Remember, investing in a good bong means investing in an experience – one that’s smooth, enjoyable, and tailored just for you. So why wait? Dive into the Bongsb collection today and elevate your smoking game to new heights!

Tornado Vapes: E-Zigarettenb für alle Geschmacksrichtungen

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Willkommen bei Tornado Vapes!

  Wenn es um E-Zigaretten geht, ist tornado vapes einer der führenden Marken auf dem Markt. Mit einer breiten Palette von Produkten, die für verschiedene Bedürfnisse und Geschmäcker entwickelt wurden, bietet Tornado Vapes eine Lösung für jeden. In diesem Guide werden wir uns auf einige der beliebtesten Modelle konzentrieren, insbesondere auf die Serie “E-Zigarettenb”. Diese Geräte sind nicht nur ästhetisch ansprechend, sondern auch sehr benutzerfreundlich.  

Randm Tornado 7000: Die Spitze der Technologie

  Ein Produkt, das besonders hervorgehoben werden muss, ist die randm tornado 7000. Dieses Gerät kombiniert elegante Design mit fortschrittlicher Technologie, um eine einzigartige Raucherei-Erfahrung zu bieten. Die 7000 ist bekannt für ihre lange Akkulaufzeit und ihre leistungsstarke Batterie, die ideal für den ganzen Tag geeignet ist. Die Benutzer können zwischen verschiedenen Wattagen wählen, um ihre persönliche Erfahrung zu optimieren. Ein weiterer Pluspunkt ist die intuitive Benutzeroberfläche, die selbst Anfänger leicht bedienen können.  

E-Zigarettenb: Die Vielfalt der Wahl

  Die E-Zigarettenb Serie von Tornado Vapes bietet eine Reihe von Optionen, die für jedes Budget und jede Vorliebe passen. Diese Modelle sind nicht nur attraktiv, sondern auch hochwertig hergestellt. Sie eignen sich perfekt für jene, die auf der Suche nach einem einfachen aber effektiven Raucherwechsel sind. Die E-Zigarettenb-Geräte sind kompakt und leicht zu tragen, was sie ideal für die tägliche Nutzung macht. Obwohl sie kompaktes Design haben, lassen sie trotzdem keine Leistung zu wünschen übrig.  

Funktionen und Anwendungsbereiche

  Tornado Vapes hat immer darauf geachtet, dass ihre Produkte sowohl funktional als auch elegant sind. Die E-Zigarettenb-Geräte sind nicht nur für den täglichen Gebrauch gedacht, sondern können auch in verschiedenen Situationen verwendet werden, ob bei Freunden oder auf Reisen. Die Geräte sind so entworfen, dass sie leicht zu reinigen und zu pflegen sind, was sie für jeden Benutzer attraktiv macht.  

Abschlussbemerkung

  Insgesamt bietet Tornado Vapes eine breite Palette von Produkten, die für verschiedene Bedürfnisse passen. Die Randm Tornado 7000 und die E-Zigarettenb-Serie sind nur einige der vielen Optionen, die es zu entdecken gibt. Wenn Sie also auf der Suche nach einem neuen E-Zigaretten-Gerät sind, sollten Sie definitiv Tornado Vapes in Betracht ziehen.