Sunday, November 29, 2009

FIRST-TIME HOMEBUYER CREDIT EXTENDED TO APRIL 30, 2010

To qualify, a binding contract must be
signed by Apr 30, and settlement must
take place no later than June 30, 2010.


This credit also applies to buying a boat
-- IF the boat will be your primary place
of residence. (Live-aboard is the term
boaters use.) Also, to qualify the boat
must have at least one stateroom
(bedroom), at least 1 head (bathroom)
and a full galley (kitchen).

The maximum homebuyer credit is
$8,000 if you have not owned a primary
residence in the past three years, or
$6,500 if you have.

By the way a Tax CREDIT is waaaay
BETTER than a Tax DEDUCTION.

A tax credit reduces your taxes
dollar-for-dollar. That's worth about
four-times as much as a tax deduction