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first time homebuyers: Expanded Tax Break Available for 2009 First-Time Homebuyers - 02/25/09 06:36 PM
Expanded Tax Break Available for 2009 First-Time Homebuyers IR-2009-14, Feb. 25, 2009
WASHINGTON — The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.
Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately.
“For first-time homebuyers this year, this special feature can put money in their … (0 comments)
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first time homebuyers: $5,000 First Time DC Homebuyer Tax Credit is Back! - 10/09/08 03:47 PM
The $5,000 First Time DC Homebuyer Tax Credit was signed into law when the President signed the "Emergency Economic Stabilization Act of 2008."
The tax credits are retroactive to Dec. 31, 2007 and will be good through Dec. 31, 2009. Individuals and families buying a home in the District for the first time are eligible even if they have owned elsewhere but not in the city. The $5,000 homebuyer incentive has been credited with stabilizing the District's population and encouraging renters to buy here instead of moving elsewhere in the region, and with shoring up the District's economy, which traditionally has … (0 comments)
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first time homebuyers: $5,000 DC First Time Homebuyer Tax Credit - 01/06/08 09:10 AM
The $5,000 DC First Time Homebuyer Tax Credit provides a federal tax credit of up to $5,000 for individuals who purchased in the District of Columbia by 12/31/2007.
Eligibility for the credit is phased out for single filers making $70,000 to $90,000 (adjusted gross income) and joint filers making $110,000 to $130,000. For example, single filers making $70,000 (or joint filers making $110,000) would receive the entire credit; single filers making $80,000 (or joint filers making $120,000) would receive a $2,500 credit; single filers making $90,000 (or joint filers making $130,000) would not receive the credit. Those who have owned a … (1 comments)
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first time homebuyers: Save Money on Title Insurance with a Re-issue Rate - 01/06/08 08:43 AM
When purchasing a single family home or condominium, it may be possible to receive a Reissue Rate on the Title Insurance Policy if the previous owner has owned the property for less than 10 years.
Where applicable, the reissue rate is 60% of the published rates in force for original insurance. Reissue rates apply up to the face amount of the previous policy. If more insurance is desired under a reissue policy than was written in the policy which it supplants, the additional coverage shall be computed at the rates currently in force for original insurance. For residential properties, the prior policy … (1 comments)
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Steve Dean
Washington,
DC
More about me…
RE/MAX Allegiance 202-338-8900
Address: 220 7th Street SE, Washington, DC, 20003
Office Phone: (202) 525-6499
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