- You Have a Second Chance: Homebuyer Tax Credit Extended and Expanded Until 2010 -

Posts tagged as:

Tax Credit

Here’s Another Tax Credit You Might Not Know You Can Claim

February 9, 2010

Let’s see if you might qualify.
Last year, over 23 million people took advantage of a tax break called the “Earned Income Tax Credit.”  And the IRS handed down $50 billion in benefits.
Want your own personal stimulus?  Keep reading and check to see if the Earned Income Tax Credit (EITC) can put some dollars in your [...]

Read the full article →

Get Set, Get Ready to File Your Taxes and Claim Your Home Buyer Tax Credit

February 2, 2010

Are you planning to claim the home buyer tax credit when you file your taxes?  If the answer is yes, here are a few things you need to be aware of as you organize your documents.
Most important and unknown to most people is that you will NOT be able to do a quick efile if you’re [...]

Read the full article →

The “New” FHA Mortgage for 2010 – After April 5, It Will Cost You More $$$$

February 2, 2010

Effective April 5, 2010, it will cost you more to buy a home using FHA.  With the market still trying to correct itself, FHA has insured more mortgage loans than ever before over the past 18 months.  More loans mean more risk is being assumed.  With more risk comes greater cost – passed on to the [...]

Read the full article →

The 2010 Home Buyer Tax Credit Made Simple. Learn the Facts and Know the Exceptions

January 5, 2010

When Congress opted to extend the home buyer tax credit on November 6, 2009, the credit was no longer a “first time” buyers credit.
Under the program’s new terms, first-time buyers are eligible for up to an $8,000 in tax credit.  Those already owning a home ( ”long-time” homeowner) get up to a $6,500 credit.  A “long-time” homeowner, according [...]

Read the full article →

Don’t Miss Out on the Huge Rebates & Tax Credits Available for Upgrading Your Home Appliances

January 3, 2010

The push has never been more fierce to get people to buy or switch to more efficient appliances. As an inducement, the government is offering rebates and tax credits.  Pretty decent amounts too.  Enough so that people who need appliances and can afford to buy would have no reason to delay the purchase. If your [...]

Read the full article →

The “Move Up” Home Buyer Tax Credit. Or Get a “Move Down” Credit Too

December 22, 2009

With the drop in property values, there are more than a few buyers who are “moving on down” to a home that costs less than the one they currently own.   Contrary to some of the information being banted about, the tax credit is equally available to homeowners who purchase down in price.  The price of the new home [...]

Read the full article →

What You Don’t Know – BUT Should Know – About The Home Buyer Tax Credit

December 19, 2009

The IRS has tightened up the ship on the monitoring of tax filings where the taxpayer is claiming the Home Buyer Tax Credit.  There has been far too much fraud and abuse.  People have actually claimed the credit who were not entitled to it.  Imagine that.
In some instances, it seems the IRS is making the [...]

Read the full article →

How To Max Out Your New Jersey Home Buyer Tax Credits to $9500.00

December 6, 2009

We all know about the $8,000.00 max credit for new home buyers extended until April 30, 2010.  But how many know about the additional $1,500.00 available on top of that?  Here’s how to get it.
I challenge someone to show me the buyer who moves into a New Jersey home and doesn’t need something improved.  That’s [...]

Read the full article →

Obama Tax Credit Could Cause Millions to Owe More Federal Taxes

November 18, 2009

Part of President Obama’s economic stimulus package included a tax credit called “Making Work Pay.”  Great in concept.  But, but, but, it could lead to over 15 million taxpayers owing additional taxes.  This was spelled out in a recent government report by the Inspector General for Tax Administration.
The Making Work Pay Tax Credit, which was [...]

Read the full article →

Homebuyer Tax Credit Extended Until April 30, 2010

November 15, 2009

After much debate and discussion, the Homebuyers’ Tax Credit has officially been extended to April 30, 2010.  The housing tax credit extends the $8,000 tax credit for home buyers who are purchasing their first home from the current November 30 deadline until April 30, 2010.  It also expands the program to offer a credit of [...]

Read the full article →

First-Time Home Buyer Tax Credit Extension – There May be New Life

October 30, 2009

The Senate reached a tentative agreement to extend the First-Time Homebuyer Tax Credit.  But passage is still not a guarantee.
Under the proposed terms, it would extend the existing credit for first-time home buyers (up to $8,000), and would offer a new credit of up to $6,500 for some existing homeowners.  The reduced credit would be available to all homeowners [...]

Read the full article →

Your Credit Report May Be Under Surveillance as November 30 Approaches

September 21, 2009

Are you trying to close your mortgage loan before November 30, 2009 to qualify for the first time home buyer tax credit?
Did your mortgage consultant warn you about your credit and your credit score?  You can bet your loan that lenders will pull your credit report again before you close that loan.  If anything wacky [...]

Read the full article →

← Previous Entries