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$8000 First Time Homebuyer's Tax Credit
Did you know you may qualify for an $8,000 tax credit? And it does NOT have to be repaid?
President Obama signed the Economic Stimulus Bill; which includes a first-time homebuyer’s tax credit equal to 10% of the cost of their home, up to $8,000. This is a fantastic opportunity for first time homebuyers who purchase a home in the United States and use this home as their principal residence on or after January 1, 2009 and before November 30, 2009.
For this credit, first-time Homebuyers are defined as not having owned an interest in a principal resident in the past three years from the date of the purchase. This Tax Credit is Non-Refundable. The Tax Credit is taken as a credit from Total Tax Liability for the 2008 or 2009 Tax Year.
* Income Guidelines *
Single or Head of Household: Earnings are no more than $75,000
Joint: Combined income of no more than $150,000.
There is a phase out of the credit if income is more than $75,000
Contact Donna Eckard Today! 641.529.1525
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