Condos New Orleans- Federal Tax Credit is Yours-Read the details!
July 30th, 2008 categories: Condo Knowledge
First-Time Home Buyer Tax Credit at a Glance
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The tax credit is available for first-time home buyers only.
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The maximum credit amount is $7,500.
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The credit is available for homes purchased on or after April 9, 2008 and before
July 1, 2009. -
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
You can visit this site for more details and questions. This is Federal tax credits for purchases of homes and or condos.
This means that if you buy something for over $75,000 and meet the details its a tax credit which is much better than a deduction. Its like cash. You owe $5000 in taxes and with the credit you get a check for $2500. That is the way that I read it. This is hard to pass up if you are on the fence on buying a house or a condo. Have a couple of thousand to save or decorate. This is great news for people thinking about purchasing. Do not wait till the last minute as many people will.
