Got some good news today after visiting with my accountant. Certain new home owners are eligible to receive $7500 back on their income taxes. It is not free money, as you must pay it back, but I believe it is a pretty good deal.
To qualify, you must:
1. Purchase your first home in 2008 or up to I believe July 1, 2009. I don't remember the exact dates for sure.
2. Purchase a home and you have not owned a home in the last 3 years.
3. Building your home and will be moved in by July 1, 2009.
It is basically an interest free loan. You pay it back at $500/year for 15 years through your income taxes. Wife and I are going to take it and put it towards finishing our basement someday. Put it in a CD until we are ready to use it.
Just a little nuggett to share with yall and for you to share with others who might benefit from it.
To qualify, you must:
1. Purchase your first home in 2008 or up to I believe July 1, 2009. I don't remember the exact dates for sure.
2. Purchase a home and you have not owned a home in the last 3 years.
3. Building your home and will be moved in by July 1, 2009.
It is basically an interest free loan. You pay it back at $500/year for 15 years through your income taxes. Wife and I are going to take it and put it towards finishing our basement someday. Put it in a CD until we are ready to use it.
Just a little nuggett to share with yall and for you to share with others who might benefit from it.