If you are renting, you should really think twice about buying this year. The first time how buyers tax credit is a gift from the government. Basically, the IRS is giving you $8,000 to go out and buy a home. You don't have to pay it back and you can use it to pay for anything you want.

The best news is you can claim on 2008 or 2009 taxes. That means you can get the money back this year. Even if you have already filed your 2008 taxes, you can amend your return and send in a special form as soon as you complete your purchase.

Note that there are income caps for receiving the tax credit. If you make over $75,000 or if you and your significant other make over $150,000 then the credit starts to phase out.

Finally, rememeber that you have to buy before November 30th of this year to get the credit.

For more information on this tax credit contact Mark Munson at 704-602-4294 or mmunson@dickensmitchener.com



Mark Munson,Broker/Realtor
704-602-4294 (office)
704-661-7330 ( cell)
mmunson@dickensmitchener.com