I have finalized my new site dedicated to educating the consumer and real estate professionals about the new first time home buyer tax credit. Being a CPA, I am naturally taking a lead role in helping others understand the bill.
President Bush signed the Housing and Economic Recovery Act of 2008 into law on June 30th. Since signing the bill, I have seen numerous "summaries" about the bill that have conflicting information. There are several issues the IRS will need to address, but I believe my information is accurate.
I have read many negative "reviews" about the credit. Consider this: If a 3rd party came into the national housing arena and offered an interest-free loan to assist with the cost of buying a home in a poor real estate market, would you be mad?
I give you the tax credit.
Would I like more? Yes. Do I wish it was a true credit? Yes.
It is what it is. If you are in the market to buy a home or if you assist others in the buying process, learn how it works and see if it works for you.
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