FIRST-TIME BUYERS GET $7,500 TAX CREDIT!
Note that this information is outdated.
Well, Congress has acted and we’re quite pleased with some of the reforms and incentives coming from Washington. The most exciting, I believe, is the new $7500 tax credit.
Please understand that this is a “credit” not a deduction. That means that if someone owes $10,000 in taxes, they only pay $2,500 because they apply the $7,500 credit!
But it gets better … this $7500 is also a “refundable” credit. So if someone only owes let’s say $5,000 in taxes, they will actually get a $2,500 refund. HURRY! The credit goes away July 1, 2009.
Call 813-426-5981 or email us at michaelann@kw.com to get your FREE REPORT: "FAQ's About the New First-Time Home Buyer Tax Credit"!
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