If you’re thinking about buying a second a home to use for vacations, rental income or a place to call home during retirement, it makes financial sense to take advantage of all the available tax breaks. The cost of ownership, after all, can be greatly reduced through tax saving deductions on mortgage interest, property taxes and other expenses.
Recent tax changes stemming from the 2017 Tax Cuts and Jobs Act (TCJA), which is now in effect until 2025, affect how much money you may be able to save.
