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Have you made the leap to first time homeownership? Well, Ann Arbor heres how to redeem your Tax Incentive!

Real Estate Agent with Keller Williams- The Gould Team in A2

Greetings Ann Arbor Area Real Estate community, and we would like to extend a warm welcome to the first time buyer community here in Washtenaw County.

Has you or someone you know made that leap to home ownership in 2009? Are you looking to make the leap possibly in 2010? Well, we have all heard about the Federal First Buyer Tax Incentive of 8,000 that is set to expire June 30, 2010. Many of my friends and colleagues are wondering how they get that credit. So, here is what needs to happen to redeem the credit...

1. Have handy a document that is titled your HUD 1 or Settlement Statement. This document outlines all of the expenses involved in your home purchase. Keep this document close and your accountant can tell you which of the fees and interest paid are deductions. Next....

2. Visit the IRS website and download the forms and exact information... easy to find right from Uncle Sam himself! Visit http://www.irs.gov

3. In past years, when the simple 1040 EZ would have sufficed, we are suggesting that you splurge this year if you have made your purchase, and hire a professional accounting firm to prepare your return this year to discuss with you all of the advantages and possible changes in your tax benefits now that you will be a homeowner!

Lastly and most importantly, pay this forward. If you know someone who is looking to make the leap to home ownership, please pass this information along, and those of you committed to your home search, GET OUT THERE. The competition for the "Best Buys on the Block" will begin soon. Don't waste valuable dollars competing to get that perfect house! Call us for your Complimentary Home Purchase Coaching Session today!

Liz Flint
Century 21 Hardee-Team Realty - Houston, TX
Houston\Tomball Realtor (832)816-8066

Hi Caitlin, nice post.  Easy to comprehend and impliment for buyers

Jan 11, 2010 09:36 PM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing this information and advice. Best wishes for an outstanding 2010!

Jan 11, 2010 09:40 PM