As we all know, it's tax season again. First-time homebuyers who bought their houses last year are now looking forward to receiving their $8,000 Tax Credit. But wait, the federal income tax credit for homebuyers has been extended and expanded to now include homeowners who wish to "move on" after 5 years of living in their current property, as well as first-time homebuyers. We all know that it's currently a buyer's market, so instead of renting, why not visit your bank and see if you qualify to purchase a house. And if you are a first-time homebuyer or wish to "move on" after living at your house for 5 years, you can still qualify for this federal income credit. With this $8,000 Tax Credit, you can certainly use this money to do home improvements or pay off credit card debt. As we all know, the current state of the housing industry really needs a lift so this $8,000 Tax Credit is absolutely beneficial to first-time homebuyers, current homeowners who are afraid to jump back into buying new property, and to the creation of more jobs and a healthful boost to our American economy.
How to qualify for this federal tax credit? According to Coldwell Banker President and CEO Jim Gillespie, if you're a first-time homebuyer, all contracts should be written by April 10, 2010 and all properties must close by June 30, 2010. And if you're a homeowner who wants to "move on," you should have at least resided for five years in your current home. This video (below) offers a clear and easy to understand explanation on how to qualify for federal tax credit. In addition, this $8,000 Tax Credit website provides a chart, a concise and clear preview and very useful information about the 2010 Homebuyer Tax Credits. What are you waiting for? Click and see if you qualify.
0 Leave Comments:
Post a Comment