ALICE DAHLGREN | Tax Changes - Overview for homeowners

Everybody loves tax time, right? Alice Dahlgren overviews the new tax law and what it means for you—as a homeowner—when it comes to filing tax returns.

It's the most wonderful time . . .

With new tax laws come new rules and deduction regulations. Let Alice guide you through the information you need to know for your taxes this year. 

You'll find the video transcription available below this delicious recipe.


 
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Easy 'Easter' Glazed Ham

Ingredients

  • 1 - 10 lb. fully cooked, bone in, ham butt or shank half
  • 2 to 2 1/2 T - whole cloves
  • 1 1/2 C - glaze (below)

Glaze

  • 1 C - light brown sugar
  • 3/4 C Dijon mustard
  • grated orange zest
  • juice of 1 orange. 

 

 

Directions

Preheat the oven to 325 degrees.

Mix the ingredients for the glaze and set aside while you prepare the ham.

Cut off any skin left on the ham.

Score the ham by measuring strips about 1-inch wide all across the ham. With a knife, go through the fat and slightly into the meat. You can use a limber plastic ruler to keep the lines rather straight. Cris-cross in the other direction to create diamonds across the ham.

Add a clove in a random pattern to stud the ham. This gives the ham great flavor. The sharper end of the clove is usually easy to poke into the ham.  

Place the ham flat side down in a roasting pan. Add a little water to the bottom of the pan (1/4-1/2 inch) and roast at 325 degrees for about 2.5 hours.  

Turn the oven temperature up to 425 degrees and pour about half of the glaze over the ham. Baste about every 10 minutes with the remaining glaze and cook for about 40 more minutes.  
Let stand 15 minutes before slicing. 

 


FULL TRANSCRIPT:

It’s everyone’s favorite time of the year!  Tax Season. 

Owning Real Estate is still a great idea for many reasons. Let’s just concentrate on mortgage interest deduction.  My CPA gave me this information so I know it to be true.

The new limit on mortgage interest deduction is $750,000.The old rule was up to $1,000,000.  This ONLY applies to new acquisitions since December 15, 2017.  If you had a mortgage before that then you can still deduct up to $1,000,000 in interest each year.  

The NEW TAX ACT does away completely with “Home Equity Loan” interest being deductible AND there is no grandfathering on that provision! If you have an existing home equity loan then you might think about refinancing your house so you can have the interest deduction or just pay it off.  

They did keep the deduction for a “second residence” or “vacation home” so long as the combined mortgage amounts do not exceed the $750,000 threshold.

Regarding the Oklahoma State taxes being deductible, the maximum deduction now is $10,000 per year for combined state income tax and real estate tax paid.