Tuesday, September 22, 2009

$8000 First Time Home Buyer Credit

Time is running out! The $8000 First Time Home Buyer Tax Credit is set to expire at the end of November. You can purchase a home today and receive a refund check tomorrow. Here is how it works. You must close on a single family home or condo purchase before Dec. 1st 2009. If your federal tax liability for the year was for example $4000 and you have paid $5000 you would receive a check for $9000. You must earn less than $150,000 for couples or $75,000 solely to qualify and have not purchased a primary residence in the last three years. You can even own vacation property already and still qualify! If two are buying and one has not purchased in the last three years you may qualify. You claim the credit on your tax return. It is a one page form. You can amend your 2008 return and receive the money now. Always consult a tax advisor or attorney to insure you file correctly. Call us today for a pre-approval. 414-416-9194

No comments: