first time home buyer tax credit: First Time Home Buyer Tax Credit
- 03/18/09 12:23 PM
Free Mone From the Feds! The following information is a summary of the new First Time Home Buyer Tax Credit Effective for Purchase on or After 1/01/09 & 12/01/09 Amount of Credit - Less of 10% of cost of home or $8000 Eligible Property - Any single family residence (includes condos, co-ops, townhouses) that will be used as principal residence. Refundable - Yes, Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit is refunded to purchaser. 2009 purchases can be claimed on 2008 returns for immediate refunds. Income Limit - Full amount of credit available … (0 comments)
first time home buyer tax credit: Recue Package for the Housing Market
- 03/03/09 01:03 AM
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/01/AR2009030101581.html?referrer=emailarticle Read the article from The Washinton Post, dated 3/2/2009. Several theorys as to why the housing market may not improve as quickly as the government think it might with the new 'stimulus' package are presented. For example, will buyers really buy now, if they think that if they wait a few more months, the prices will be lower? There seems to be no sense of urgency for home buyers right now. It appears that the government tax credit to home buyers could possibly backfire. The tax credit is for first time home buyers only. Aren't these buyers the ones … (4 comments)
first time home buyer tax credit: First Time Home Buyer Tax Credit
- 12/05/08 01:58 AM
As part of the Housing Stimulus Bill, Congress created a tax credit for first time home buyers who purchase a home prior to July 1, 2009. What is the tax credit? Eligible tax payers will receive a "refundable" credit of up to $7,500 or 10% of the purchase price of their home, whichever is less. A refundable credit means you will get the entire amount of the credit, even if it exceeds your tax liability. Who is eligible? Any person who has not owned a principal residence in the three years prior to closing who meets the income limitations-$75,000 for individuals … (0 comments)
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Lisa Rozmarniewicz
Marketing and Sales Professional with a Passion fo
Free Mone From the Feds!
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