Tuesday, January 26, 2010

The 2010 Homebuyer Tax Credits

The 2010 Homebuyer Tax Credits is now extended and in fact expanded and that's until April 30 of 2010. Rent or buy your own house? Buying a house is sure a good investment. So, invest now, harvest later. This is a real good benefit for one US citizen who may have likely to enjoy.

If you are a first time buyer, you can obtain as much as $8,000 tax credits. You are qualified to avail this if you don't own a house for the last three years. And if you're already a homeowner and have lived for 5 years in the past 8 years consecutively, then you are also entitled for $6,500 Tax Credit.

You may never know if there will be any extension, so it is a must to act now before April 30, 2010. The contract will be closed on June 30,2010 and there may be no extension for this, so better to act now or regret for not grabbing the opportunity of extended tax credits.

If you are single and earning $125,000, or married couples with $225,000 and with additional $20,000 phase out of the credit for both, then you are qualified.

The website also provide an additional chart for more informative facts. I have posted a video which I believed will give basic information about the homebuyer tax credits.



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