September 5, 2019
The Orange County Register quoted Assurance Partner Warren Hennagin in an article about home equity borrowing.
Orange County Register
By Jeff Lazerson
Excerpt:
Under the new tax code, HELOC’s and HE’s are tax deductible for owner-occupied and second homes as long as the total mortgage interest (including first liens) does not exceed $750,000, according to Warren Hennagin, CPA and partner at Marcum LLP. You must use the funds for home improvements to deduct interest payments from your taxes, Hennagin said.
