Tuesday, March 10, 2009

The federal goverment is providing a tax credit up to $8000.00

There are a few minor guidelines.
First time homebuyer or someone that has not owned a primary home for 3 years prior.
The tax credit is equal to 10% but not more then $8000.00 of the purchase price.
If a buyers purchases a home for $80,000.00 then they are entitled to the full $8000.00 tax credit.
The tax credit is for purchases 1/1/09 - 12/1/09
Single taxpayers income can not exceed $75,000.00 and married couples income can't exceed $150,000.00.
This doesn't need to be repaided!

This is the goverments way to stimulate the housing market. You apply for the tax credit on that tax year form and the goverment will send you a refund.

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