Friday, April 2, 2010

$8,000 Tax Credit

Tax season is here once again. We pay our taxes deligently so that when we file our tax return, we may get so much in return too. Now, how would you like to get an $8,000 tax credit? It sounds good but, you may ask how it is possible? This is possible only if you are a first-time homebuyer or if you have not owned a home for the last three years. If you qualify then, act now and file your tax return and get the benefit of this tax credit. Did you know that the federal income tax credit for homebuyers has been extended? Not only that, it was being expanded too. The video below will give you a specific idea about this good news. Watch the video and you will be delighted to know about this huge tax credit.

Here is another information that you should be happy about. If you are a homeowner who have lived in your current home consecutively for 5 of the past 8 years then, you will be entitled to receive up to $6,500 tax credit. If you are qualified, you must act now because there may be no future extensions. If you are single, income limit is $125,000 and for married, it should be $225,000 with a $20,000 phase-out for both. $800,000 is the limitation on Cost of the Home Purchased for either first-time homebuyers or Current Qualifying Homeowners. For more information, visit the link provided here.

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