Tax Tips

This link gives some good information on items that can lower your tax liability, several of which involve buying a home. Put it on your "favorites" list on your computer to help you in your financial planning.


http://finance.yahoo.com/news/10-new-tax-laws-you-need-to-brn-14221646.html



I understand that the senate has approved an amendment for the proposed economic stimulus bill to increase the tax credit up to $15,000 for ALL home buyers. I will post more as info becomes available.

http://www.usnews.com/blogs/the-home-front/2009/02/05/senate-adds-15000-home-buying-tax-credit-to-stimulus-bill.html



Here is the current tax credit info & benefits. The current credit is only for 1st time home buyers and the cap is for $7,500, so you can see that the one they are working on now will increase the benefits significantly and offer them to a greater number of home buyers.

http://taxes.about.com/od/deductionscredits/qt/homebuyercredit.htm