What if the government were to give every citizen $8,000.00 as a free gift instead of continuing bailing out Wall Street. What would you do with that money?
One of the most concerning situations for American families today is debt. Based on a report made by Nilson in 2009, the average credit card debt per household in the US is $8,329.00. So you could definitely pay off your credit card debt with that free money.
Another big issue in the country is the lack off health insurance. According to the most current Census Bureau statistics, about 4.5 million Americans don't have health insurance. Families spend an average of $10,728.00 in health insurance. So you might choose to enroll your family in a health care program.
There are several uses to that free money. You could start a small business. Financial experts indicate that start-up costs to start a small business ranges from $10,000 to $15,000. With $8,000 you are already covering most of your initial investment.
What about opening a 529 college saving plan for your kids. Opening an IRA for retirement purposes would also be a way to go.But why do we keep day dreaming if the chances of getting $8,000 from the governmet is rabsurd right?
Wrong!!
The government is actually giving qualifying first time home buyers up to $8,000 for purchasing a home. (or up to 10% of the purchase price) and the best part is that you don't have to pay it back, even if you have already filed your 2008 taxes.
There are some qualifying factors to get this money, but they are all pretty reasonable and easy to explain. Let's take advantage of the convination of low rates and even lower home prices. We can finally fulfill the desire of owning a home and take the incentive provided by the government to continue living the American dream.
If you would like to know more about this tax credit simply click on the link below.
www.floridarealtors.org/NewsAndEvents/article.cfm?id=224972
Miguel Peralta & Marco Peralta
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