Tax Deductions
Home Buyers Face Tax-Credit Delays
Tuesday, February 2nd, 2010Home buyers who purchased a property after Nov. 6, 2009, when the extension and expansion of the first-time and move-up home buyer tax credit took effect, have reportedly been unable to get their rebates—or even file for them—because paperwork isn’t available. Robert Dietz, an economist with the National Association of Home Builders, says the delay [...]
Homebuyer Tax Credit Extended
Thursday, December 3rd, 2009It is official, the first time home buyers credit has been extended. $8,000 First-time Home Buyer Tax Credit at a Glance The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year [...]
Homeowners: Take Advantage of Available Tax Deductions!
Friday, May 1st, 2009Here is a list of the top tax deductions for homeowners: Mortgage Interest – Mortgage interest on a home is usually fully tax-deductible. You can deduct interest on multiple mortgages, as long as they do not exceed $1 million. The purpose of the mortgage must specifically be to buy, build or improve a home. Points [...]