Tax Credit Expiring Soon !!!

by teamlally on March 31, 2010

8,000 REASONS
FOR YOU TO GET OFF THE FENCE.

About the First-Time Home Buyer Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.
For FAQs about the $8000 First Time Home Buyer Tax Credit, Click Here


$6500 Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.


Learn more at: www.HawaiiHousingPrograms.org

For more information about Tax Credit, here are 5 available  flyers (PDF Format)  with additonal information.

Homebuyer’s Tax Credit – TeamLally – First Time Homebuyers.pdf

Frequently Asked Questions – Team Lally – FAQs.pdf

Homebuyer’s Tax Credit Changes – Team Lally – Tax Credit Changes.pdf

Are you a Move up buyer? – Team Lally-Not a first time buyer.pdf

Now is the time – Team Lally- Act Now.pdf

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