Tax Credit

A tax credit is money that the government refunds you when you pay your taxes. Recent tax credits were enacted by the Obama administration in 2009 as an incentive for people to buy homes. Some tax credits come and go. You usually shouldn’t plan on a large investment solely due to an incentive given by the government. The incentive or tax credit might help, but you should still make sure that all of the other elements of your investment strategy work and are right for your long term planning.

Do I Need to Repay my First-Time Home Buyer Tax Credit from 2008?

For those that took advantage of the first-time home buyer tax credit in 2008, you still need to repay the IRS back over time. Q: I bought a home in April, 2008 and took advantage of the $7,500 home buyer …

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Taxes Owed When Selling a Home That is Not Your Primary Residence

If you are selling a home that is not your primary residence, you will have to pay taxes if you made a profit. Q: I recently sold a townhouse and was concerned about how much tax I would be responsible …

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Repaying the First-Time Homebuyer Tax Credit

If you took advantage of the first time homebuyer tax credit on your tax return for 2008 filed in 2009 and sell your home, you may have to repay the balance of the tax credit. Q: I am 29 years …

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Tax Incentives and Deductions for Real Estate Investors

Tax incentives and tax deductions for real estate investors is suggested to be the cure to the housing market meltdown and the problems in the commercial real estate market.  Q: With the U.S. real estate market still at death’s door …

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Homeowners’ Tax Credit Only Available for Homeowner

*Homeowners’ Tax Credit Only Available for Homeowner *
Homeowner’s tax credit is only available for homeowners. Only a homeowner can apply for a tax credit for that home. The homeowner’s name must be on the deed to be eligible for a tax deduction. Filing for partial ownership can help mortgage paying tenants receive tax credits. Tenants might receive a tax deduction but homeowners’ tax credit is only available for homeowner. Use an accountant to see if you qualify for a homeowners’ tax credit.

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Qualifications For First-Time Home Buyer Tax Credit Affected By Spouse

The qualifications for first-time home buyer tax credit are affected by your spouse. When trying to receive the first-time home buyer tax credit understand that your eligibility for the first-time home buyer tax credit is affected by your spouse. If your spouse has already owned a home you will not meet the qualifications for first-time home buyer tax credit. Previous home ownership by your spouse affects your qualification for first-time home buyer tax credit. To find out if you meet the qualifications for first-time home buyer tax credit are not affected by your spouse visit www.homebuyertaxcredit.com.

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Home Buyer Tax Credit: Do You Qualify?

If you are thinking of buying a home, you may qualify for the home buyer tax credit. If you qualify, you could save a considerable amount of money. The only problem is qualifying. The IRS has a whole list of qualifications that you have to meet in order to get the tax credit.

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Home Buyer Tax Credit 2010: Miss it? It May Not Matter

If you missed the home buyer tax credit 2010 deadlines, you may not have missed out on much. Since home buyer interest has plummeted by around half, sellers, states, and real estate companies are offering cash incentives in order to generate new interest in the real estate market. Now, home buyers around the country can reap all the benefits of the home buyer tax credit, and have the advantages of lower real estate prices. Read on to find out more about the great deals in real estate.

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Home Buyer Tax Credit Extension Due To Overwhelmed Lenders

The home buyer tax credit has been extended due to overwhelmed lenders. The closing date has been extended to September 30. Home buyers have signed contracts in order to qualify for the home buyer tax credit, but the lenders are overwhelmed and can’t close on time. To make sure that qualified home buyers receive the home buyer tax credit, lawmakers have extended the deadline to qualify for the home buyer tax credit until September 30. The home buyer tax credit extension should help both home buyers and overwhelmed lenders.

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First Time Home Buyer Tax Credit For Unmarried Couples

If you are unmarried and have purchased a home or will close on your purchase of the home by June 30, 2010 (with a contract that became binding on or before April 30, 2010), you may still be entitled to the first time home buyer tax credit. You and your partner may each be entitled to apply for the tax credit and get a portion of it on your tax return. Make sure you qualify for the tax credit and then file your tax return to get the tax credit.

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