Sacramento Home Buyers Glad Tax Man Cometh
April 1st, 2009 categories: Real Estate Tips
There are some happy Sacramento home buyers right now. No, this is not an April fools joke. These Sacramento home buyers are no fools…they are the smart ones. They bought a house or condo and now they are reaping the rewards…
The tax cometh but these new first time home buyers are eagerly itemizing and getting their home tax deductions. These home buyers are smiling!
If you bought a house this year, the Federal government is giving you an $8,000 tax credit as a First Time Home Buyer. Your income and the fact that the house must be your primary residence is key to qualifying for this $8,000 tax credit. You must have purchased the house or condo between Jan. 1, 2009 and Nov. 30, 2009 in order to qualify. And for those who bought a house in 2008 there is a home buyer credit of $7,500. Always check with your tax consultant for the details. For more details on this be sure to read Scoop on First Time Homebuyer Tax Credit.
And BINGO, if you bought a new house from a builder whether or not you were a 1st time home buyer or not, you get a State tax credit of $10,000.
It doesn’t get much better than that…$18,000 for some of those smilihileng new home buyers doing their taxes right now. I can see why you are smiling!! Never saw so many homeowners happy to get their taxes done.
With interest rates down and Sacramento home prices at an all time low, it’s time to click the Sacramento MLS link and find the house for sale that you would like to buy.
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