$15,000 tax break for YOU
02-04-2009 | 07:50 PM
#1
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Joined: Nov 2004
Posts: 10,501
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$15,000 tax break for YOU
The Senate voted today to give homebuyers a 15k tax break.
Is this enough to make YOU buy a house this year?
Sen. Johnny Isakson, R-Ga., who advanced the homebuyers tax break, said it was intended to help revive the housing industry, which has virtually collapsed in the wake of a credit crisis that began last fall.
The proposal would allow a tax credit of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break but only for first-time homebuyers.
The proposal would allow a tax credit of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break but only for first-time homebuyers.
02-04-2009 | 09:14 PM
#2
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Joined: Oct 2005
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its just a credit, (loan) although im going to take advantage of my 7500 loan this year. i think the people that still have money already know that and it wont make a big difference.
now if it was a tax break, no credit it would be different.
now if it was a tax break, no credit it would be different.
welcome back Bert! It had been boring w/o you!
02-05-2009 | 10:25 AM
#6
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Joined: Aug 2004
Posts: 1,590
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From: La Crescenta, CA
nm, i found it.
question. if you already filed your 2008 tax with the $7500 tax break, how do you get the remaining $7500? is there a cpa in the house? i'm looking, but cant seem to find anything that explains the above situation.
question. if you already filed your 2008 tax with the $7500 tax break, how do you get the remaining $7500? is there a cpa in the house? i'm looking, but cant seem to find anything that explains the above situation.
02-05-2009 | 10:37 AM
#7
Joined: Sep 2005
Posts: 3,368
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From: Aliso Viejo
