economic stimulus package: Tax Credit for 1st Time Homebuyers
- 07/30/08 01:59 AM
It looks like a $7500 tax credit for first time homebuyers will be a part of the housing stimulus package being signed by President Bush today. Please pass this along to any first time homebuyers you work with who are closing on a home between April 9, 2008 and July 1, 2009. They can take a $7500 tax credit on their 2008 or 2009 tax return. Tax credits are more fun than deductions because the credit is a dollar for dollar reduction in tax liability – ie if you owe less than $7500 in taxes, the government will erase the tax … (0 comments)
economic stimulus package: Federal tax changes of note
- 02/21/08 01:35 AM
There are several changes and additions to the tax code for 2007 filings. As we know, the Senate passed an economic stimulus package last week. The high point of the deal is a special, one time payment to American taxpayers. Individuals making less than $75,000 per year and couples making less than $150,000 per year should receive from $600-$1200 from the government. According to an article from the Wall Street Journal Online, several other major changes should bring relief to taxpayers and homeowners. The biggest in my book is mortgage debt relief for homeowners who lose their homes to foreclosure. Say … (0 comments)
It looks like a $7500 tax credit for first time homebuyers will be a part of the housing stimulus package being signed by President Bush today. Please pass this along to any first time homebuyers you work with who are closing on a home between April 9, 2008 and July 1, 2009.;)
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