Tax Credit Conundrum — $8000, $15,000 or Nothing?
Posted by: Jay Reifert in Home Buyer Tax Credit, tags: $8000, eight thousand dollar, fifteen thousand dollar, finding a home, first time home buyer, Housing Crisis, stimulus money, tax credit
If you haven’t bought a home yet, you may want to sit tight for just a little while. It isn’t that an $8000.00 first time homebuyer tax credit isn’t nice…it’s just that a $15,000.00 any homebuyer tax credit would certainly be nicer.
Now, I’ll be the first to tell you, I’m not thrilled with the stimulus this, and stimulus that…in that I believe it’s going to create greater problems down the road, when the bill for all this spending comes due, but–that said–when it comes to watching out for your personal economy, in the here and now, it’s hard not to be interested in a $15,000.00 refundable tax credit.
If the legislation were to pass as it’s written, the two biggest changes, besides the amount of the credit, would be:
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