taxcredit

$8000 TAX CREDIT

For first time home buyers!

My clients can always count on me to keep them informed of the most recent developments that they can benefit from! Congress passed, and on November 6, 2009, President Obama signed into law the "The Worker, Homeownership, and Business Assistance Act of 2009"

This new act extends the first time home buyer tax credit of 10% of the purchase price of a home, up to $8000 until April 30, 2010 to sign a binding purchase contract, and until June 30, 2010 to close. To qualify as a first time homebuyer, you cannot have owned a home in the past three years. Additionally, your modified adjusted gross income must be under $125,000 for a single taxpayer, and under $250,000 for a married couple.

This is a tax credit, and NOT a tax deduction. That means that the $8000 tax credit is a dollar for dollar reduction to what you owe in taxes. So when you file your income tax return, if you normally receive a refund, you will probably receive your refund for excess taxes paid, plus a refund for $8000! There is even a provision that enables you to reduce your current tax withholding, since your taxes due at the end of the year will be less with the tax deduction.

Additionally, Congress has authorized a $6500 tax credit for current homeowners who have owned and lived in their home as their primary residence for at least 5 of the past 8 years.

With low interest rates, a buyers market, an $8000 tax credit for first time home buyers and a $6500 tax credit for repeat buyers, that makes NOW a better time than ever to buy your new home! The full terms and conditions are contained in the link below, which is external to my website, and is the underlying document of understanding of this government tax credit program.

www.FederalHousingTaxCredit.com

Have questions? Call me, or fill out the form below and I'd be happy to explain to you all the facts of this new law and how YOU can use it to YOUR advantage! Remember, you must sign a binding purchase agreement home before April 30, 2010 to take advantage of this tax credit.

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Direct: 845-471-1017

Anytime Cell: 914-475-3064

If you are a first time homebuyer, or a current homeowner and no one has told you about this new legislation, please call me today.

$6500 TAX CREDIT

For certain current homeowners!!