| Recent Blog Posts by Suzanne Dingley | ||
Just 6 Weeks Left To Claim The Homebuyer Tax CreditThe deadline for purchasing a home in order to qualify for the extended and expanded Home Buyer Tax Credit program is fast approaching. Homebuyers must be under contract to purchase a home no later than April 30, 2010; the home must close no later than June 30, 2010. “Move up” buyers (those who own a home and have lived in it for 5 of the last 8 years) may be eligible to receive a ...
Posted by
Suzanne Dingley
@ 3:03 PM
on 03/02/2010
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IRS Form 5405 Needed To Claim Homebuyer CreditThe Internal Revenue Service has released a new form that eligible homebuyers must file in order to claim the first-time homebuyer credit this tax season.
The new form and instructions follow the extension and expansion of the homebuyer tax credit in November. In addition, there are now documentation requirements to deter fraud and ensure taxpayers properly claim the credit.
With the release of ...
Posted by
Suzanne Dingley
@ 3:03 PM
on 02/08/2010
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Breaking News on the Homebuyer Tax CreditThe Internal Revenue Service has released a new form that eligible homebuyers must file in order to claim the first-time homebuyer credit this tax season.
The new form and instructions follow the extension and expansion of the homebuyer tax credit in November. In addition, there are now documentation requirements to deter fraud and ensure taxpayers properly claim the credit.
With the release of ...
Posted by
Suzanne Dingley
@ 12:25 PM
on 01/21/2010
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ATTENTION NYS HOMEOWNERS - HAVE YOU APPLIED FOR YOUR STAR EXEMPTION?STAR is New York State's School Tax Relief Program that includes a school property tax rebate program and a partial property tax exemption from school taxes. All New York State homeowners who live in their home - whether it's a condominium, cooperative apartment, manufactured home, farm dwelling, apartment building or mixed-use property - are eligible for the STAR exemption on their primary residence.
The ...
Posted by
Suzanne Dingley
@ 1:59 PM
on 01/11/2010
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EXPANSION OF THE HOME BUYER TAX CREDITThe President has extended the $8,000 First Time Home Buyer Tax Credit and now expanded it to include a $6,500 tax credit for Move Up Buyers has caught the attention of many.
Click this video for some of the pertinent details of the tax credit:
Posted by
Suzanne Dingley
@ 2:06 PM
on 12/17/2009
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FAQ: FIRST TIME BUYER AND MOVE UP BUYER TAX CREDIT
Here are some of the most frequently asked questions on the changes to the Home buyer Tax Credit. Additional details will be posted to this blog as they become available.
Question: Existing homeowner credit: Must the new house cost more than the old house?
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements ...
Posted by
Suzanne Dingley
@ 10:35 AM
on 11/13/2009
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UPDATE ON THE PROPOSED EXTENSION/EXPANSION OF 1ST TIME HOMEBUYER TAX CREDT AS OF 11/4/09Following are the latest details available on the proposed extension and expansion of first time home buyer tax credit extension, now including a move-up buyer’s tax incentive as of 11/4/09. This measure has been passed by the Senate; now it's up to the House.
The tax credit would be $8,000 for first-time home buyers and $6,500 for move-up buyers (from December 1, 2009 to April ...
Posted by
Suzanne Dingley
@ 1:45 PM
on 11/05/2009
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UPDATE ON THE PROPOSED EXTENSION OF THE FIRST TIME HOME BUYERS TAX CREDITPROPOSED: First Time Home Buyer Tax Credit Extension; Income Levels Increased
The proposal to extend the first time home buyers tax credit is getting very close to being finished. The latest update is that the extension will offer tax credit to home purchases under contract by April 30th, 2010 while allowing another 60 days to close on the sale. The biggest change we may see in the ...
Posted by
Suzanne Dingley
@ 10:23 AM
on 10/29/2009
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Act Now – 1st Time Homebuyer Incentive Expires Nov. 30, 2009The current legislation grants a tax credit of up to $8,000 to first-time home buyers; the home must close by November 30, 2009. Purchase contracts need to be signed by late September or early October to ensure a closed sale before the deadline. At the current time, there has been no decision on an extension of the program.
Who Qualifies? To qualify as a “1st-time home buyer” the purchaser ...
Posted by
Suzanne Dingley
@ 2:38 PM
on 09/29/2009
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