You may have heard about the Federal First time home buyer tax credit that was signed into law. This is an $8000 tax credit for first time home buyers. When you file your 2009 federal tax return you will receive the credit.

Here are the basics:

Only first time home buyers - A first time home buyer includes buyers that have not owned a home in the previous three years.

Purchase price eligibility - The credit is equal to 10% of the purchase price up to a maximum of $8000.

Eligible dates are: 1 January 2009 to 1 Dec 2009.

Income eligibility – Single tax payers with incomes up to $75,000 and married couples filing joint returns earning up to $150,000

Unlike the previous $7500 tax credit, this one does not have to be repaid.

Contact us today for details.

This entry was posted on Thursday, February 26th, 2009 at 11:09 am and is filed under Main. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.