Buying a home can be a significant purchase. Fortunately, federal tax benefits are still available, even after recent tax reform legislation, to help make homeownership more affordable. There may also be tax benefits under state law.
Initial drafts of the Tax Cuts and Jobs Act of 2017 included several changes to college-related taxation. In the end, none of these provisions made it into the final legislation. But a few other college-related items did. These changes are now taking effect in 2018.
When tax season comes around, it can be difficult to tell if you are in need of a professional to prepare your tax return, especially with the way the tax filing process has changed significantly. To decide, ask yourself five easy questions.