Tag: tax credit
There is a great new article in my November E-Newlsetter regarding the New Homebuyer Tax Credit.
While it may not be right for you at this time, you might have friends and family to share it with. Click here to go to my website, then click on E-Newsletter at the top.
Robert Freedman of Realtor Magazine recently sat down with Linda Goold, The National Association of Realtors’ director of tax policy, and Samuel Whitfield, an NAR legislative representative to discuss the possibility of an extension. The tax credit has been, in Freedman’s words, “the economic recovery’s workhorse.” To date, over 1.4 million households have used the credit. Goold and Whitfield both point out that there is bi-partisan support for extending the credit, but the current Dec 1 deadline is quickly approaching. To watch Freedman, Goold, and Whitfield further discuss of this issue, click HERE.
A new article in the Charleston Regional Business Journal contains information and analysis of the tax breaks offered by the new Stimulus package. Mark Cooter, of the accounting and advisory firm Elliot Davis, offers insight and analysis into some benefits for investors. The new laws are chock full of tax provisions for people interested in making real estate purchases in the current tax year. Besides the first-time home buyers tax credit of $8,000, there are other benefits that may make the decision of “to buy or not to buy” a bit easier for some. Most notable among the incentives is the extension of the bonus depreciation rules, which allow a 50% bonus over standard IRS depreciation allowances on fixed assets until then end of 2009.
Click HERE for the full article.
I originally posted this on my blog, but I wanted to give readers of The Charleston Coast the benefit of this chart as well.
For those of you attempting to purchase your first home and for those of us trying to help you with that, here is a breakdown of the modifications to the First-Time Homebuyer Tax Credit plan.
If I can help you, your friends or family with this, please give me a call or shoot me an email at Betty@BettyPoore.com.