Published on February 26, 2020 by NextAdvisor
“A lot of people think, ‘I have a mortgage, and I can use the interest as a deduction on my tax return.’ But you have to exceed that amount of standard deduction to be able to do that,” say Karl Schwartz, CPA, certified financial planner, and principal and senior financial adviser at Team Hewins, a financial planning and investment firm. “If they don’t have much in other deductions, then they may not be able to use any of [the home equity loan interest].”
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SHOOK Best in State Advisor

Forbes Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes or SHOOK receive a fee in exchange for rankings. View Patrice’s full Forbes profile here.

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