TAX CREDIT DIAMOND BAR CALIFORNIA
Are you still waiting to decide to whether you should buy now or wait. Hear is one good reason you should act now. Besides the Federal Tax Credit the State of California is giving tax credit upto $10,000. For some reason if you can not take advantage of this credit you should let your friends, family and neighbors know and they will never forget you. Let your friends, family and neighbors know that State of California is giving upto $10,000 tax credit over three years to Home Buyers. The credit is a dollar-for-dollar reduction against the income tax due. Home Buyers must claim the tax credit in equal installments over three years beginning with the year of the purchase. One of the requirements to qualify is that the buyer must live in the home as their primary residence for minimum two years. First-time Home Buyers can purchase a new or existing home while the repeat or move-up Buyers qualify only if they buy a new home. Existing or pre-owned Home Buyer must close the escrow between May 01, 2010 and December 31, 2010. The new Home Buyer must sign purchase agreement between May 01, 2010 and December 31, 2010 and close the escrow by August 1, 2011.
Besides the California tax credit the federal tax credit is up to $8,000 which is to expire on April 30, 2010. Home Buyers who would like to take advantage of this tax credit, must act fast. To qualify for this Federal tax credit Buyers must sign purchase agreement on a new or existing primary residence prior to April 30, 2010 and close the escrow on or before June 30, 2010.
This may be a once in a life time Golden opportunity for the Golden State of California Home Buyers.
Disclaimer: I am not a tax adviser, I am a Real Estate Broker. Please consult your own Tax Adviser for your own situation.
For more information on buying or selling your home in Diamond Bar California give me a call (909)615-9769.