Question: When we originally built our home, the painter used a semi-gloss, oil-base paint throughout the inside. Over the years, we have repainted with water-based paints. We would like to repaint the inside again and use an oil-base, semi-gloss over the water-base paints. Is that possible?
Answer: Yes, but you should apply a sealer first. However, you may find difficulty in obtaining oil-base paints as a result of recent air pollution standards for the painting industry.
Q: I understand that under the new tax law, interest payments on your home are still tax deductible. However, I have been told by a friend that the points that I pay for obtaining the loan are not deductible. Is this true?
A: Under the new tax law, points paid to obtain a home loan are not deductible. They are considered to be a fee for obtaining a loan, not an interest charge.