Wednesday, February 18, 2009

I Want Free Money! I Want Free Money! I Want Free Money! I Want Free Money!




Attention first time home buyers - the government wants you to buy a home. What are they doing about it? How about an $8,000 credit on your taxes? If you owe $500 at the end of the year - you get $7,500 refund. If they owe you $500 at the end of the year - you get $8,500!

  • Buy between January 1st 2009 and December 1st 2009
  • Any type of home (condo, townhouse, single family home) - must be your primary residence
  • Must make less than $75k a year as single person or $150k as a married couple - above that money still available, just less - up to $95k and $170k
  • First time buyer is a first time purchaser OR someone who hasn't owned in 3 years
  • No repayment if you own for 3 years (recaptured on sale if sold before 3 years)


Of course there is fine print and you should consult a tax professional - but this is a significant improvement over the plan previously approved.


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