How The Homebuyer Tax Credit Changes Effect Georgia Buyers Of Homes
November 7th, 2009 categories: BUYERS only, Deborah's Scrapbook, Real Estate Forum
YES !
Home Buying Tax Credit Now Available To All Homeowners!
President Barack Obama approved and signed the new Home Buying Tax Credit today, allowing the majority of new home buyers the opportunity to receive a tax credit of up to $6,500.00.
To understand how a tax credit works, you are able to apply this tax credit against any Income Tax paid for the current tax year. In another words, if you have Federal Withholding Tax taken out of your paycheck each week, at the end of the year, you are able to take the $6,500 tax credit and apply it against your Federal Withholding tax or you can apply the $6,500 to any taxes currently owed on your tax return.
The bottom line is a real $6,500 back to you from the Federal Government, or $8,000 if you are a first time homebuyer.
How To Qualify:
Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500, new homeowners buying for the first time are eligible for $8,000. You also have to sign a purchase agreement by April 30th, 2010 and close by June 30th, 2010.
Who To Contact:
Contact Deborah Weiner at www.NorthAtlantaHomes.org if you would like to take advantage of the new Homebuyer Tax Credit.
For More Information:
Home Buyer Tax Credit To Be Expanded
Questions And Answers About Homebuyer Tax Credit Changes 09
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