First-Time homebuyers credit - Chicagoland Sportbikes
Chicagoland Sportbikes
 
Open Forum This forum is for all off-topic discussion.

 
LinkBack Thread Tools Display Modes
post #1 of 3 (permalink) Old 03-07-2009, 04:34 PM Thread Starter
Slava
 
spetsnaz56's Avatar
 
Join Date: Jul 2004
Location: The Hills
Posts: 1,409
Location: The Hills
Sportbike: 2006 Triumph Daytona 675
Years Riding: Since '98
How you found us: chicago russian riders
           
First-Time homebuyers credit

Just got this latest tax update from my fiance, who is an accountant. Hope it helps out.

The First-Time Homebuyer Credit has been increased from $7,500 to $8,000. If you qualify, the $8,000 does not need to be repaid. If you purchase a home between now and December 1, 2009, you can claim this credit. This isn't such great news for people who purchased in 2008. People that purchased in 2008, can claim the $7,500 credit; however, this credit must be repaid. The $8,000 credit is available to those who purchase a home from January 1, 2009 through December 31, 2009. If you purchase a home in 2009, you can claim this credit on your 2008 return. if you have already filed your 2008 return, you can file an Amended return (Form 1040X) and get the credit sooner then you would if you waited until filing your 2009 return. You are getting paid $8K to purchase a home. The only way you would have to repay this credit is if you sell your home within three years of purchasing it. Therefore, if you are serious about buying a house, do it between now and December 1, 2009. This is aimed at increasing home purchases and reviving the credit market. If you know anyone who is thinking of purhasing, let them know about this credit. $8,000 is a good chunk of money, especially if it is tax free.
spetsnaz56 is offline  
Sponsored Links
Advertisement
 
post #2 of 3 (permalink) Old 03-08-2009, 04:29 PM
Si Vis Pacem Parabellum
 
SmartDrug's Avatar
 
Join Date: Feb 2006
Location: Bartlett
Posts: 11,409
Location: Bartlett
Sportbike: 955i Speed Triple, 100AE Road King, AP1 Honda S2000
Years Riding: 1/3rd of my life.
How you found us: Cave Johnson
           
I just missed this... I'm not pleased.

Brian
NESBA #22
الكافرة مع بندقية سوداء
Si vis pacem parabellum

Quote:
Yeah, I quit doing blow, not being rad!
SmartDrug is offline  
post #3 of 3 (permalink) Old 03-08-2009, 05:06 PM
pfft.
 
ill_ag's Avatar
 
Join Date: Nov 2003
Location: Houston
Posts: 11,644
Location: Houston
Sportbike: 01 F4i (Well, I HAD one, anyway)
Years Riding: 7
How you found us: I google myself regularly
           
I'm thinking of buying this year. The more info I can get about this, the better.

I'm so glad I didn't buy an "ok" home in my 20's...waiting has served me well-- hopefully!!
ill_ag is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Chicagoland Sportbikes forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome