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2008年9月18日 星期四

First Time Home Buyer Tax Credit

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這是給初次購屋著的福利,

The new $7,500 tax credit for first-time homebuyers.

雖然是 $7500 Tax Credit, 卻不是真的免費的, 請看以下條件

The tax credit is not a gift or a grant but essentially a 15 year loan to the homebuyer and, while it is interest free, will require filing a tax return and will carry the same IRS penalties for non-payment as accrue to delinquent taxes.


Warnings duly noted, further information and the regulations regarding this tax credit are now available. If you have an interest in the program, here are some basic facts.


The credit is available only to first-time home buyers defined as buyers who have not owned a principal residence for three-years prior to the subject purchase. The ownership test applies to both partners in a marriage; i.e. if a husband has not owned a home in the past three years but the wife has, neither spouse qualifies for the first-time home buyer tax credit. (It appears that this would be the case even if the husband is purchasing the property only in his own name.) A buyer can still be eligible for the credit even if he owns a vacation home or rental property not used as a principal residence.

哪些人可以QUALIFIED??

Single taxpayers with "modified adjusted gross income" up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. Individuals and couples with incomes above the thresholds may still qualify for a lesser credit, however, taxpayers with adjusted gross income above $95,000/ $170,000 phase out of the program completely.

需要申請嗎和APPROVE嗎?? 不用...但請先洽詢你的 CPA

There is no need to fill out an application to qualify for the tax credit. First-time homebuyers merely claim the credit when filing the tax return for that year. No pre-approval is necessary, but if you are relying on this program to purchase a home you may want to check your eligibility. Your tax advisor may be able to help you with this.



The credit is available even to those with little or no federal income tax liability to offset. This usually means that the government will send a check for part or all of the credit. Otherwise the credit is used to offset any unpaid taxes or increase a refund.

有限制購屋期間嗎??

The credit is available for homes purchased between April 9, 2008 and July 1, 2009 and applies to both new and existing homes whether attached or detached, condominiums, mobile homes, or houseboats. A homebuyer contracting for a custom built home can qualify for the credit as long as the home is first occupied between the April 2008/June 2009 dates. (For newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date.)



The $7,500 credit represents 10 percent of the purchase price of a low cost home. Most who use the program will be able to claim this full amount, however, in the event a home is purchased for a lesser amount, the 10 percent cap will apply. That would mean that a $65,000 purchase would result in a $6,500 credit.



There are other refinements to the program. For example, if it is to his benefit, a taxpayer can apply for the credit in a different year than the home is purchased. There is also a possible forgiveness of debt for homeowners who sell the home before the loan is repaid and do not received sufficient gain from the sale to cover the loan balance. Information on these and other details of the program can be researched on a website maintained by the National Association of Homebuilders at http://www.federalhousingtaxcredit.com/.
希望對那些第一次購物這有幫助!!

5 則留言:

BbChun 提到...

BBD, 在你的blog裡常有些新的資訊, 但我這個家裡蹲的阿呆, 真的不是很了解也... 還是需要妳的解說! 不過等我存夠了錢, 自己會上門找妳麻煩的. 呼~* 呼~*

匿名 提到...

我對買屋,理財是一竅不通,到時一定要問妳滴~ 曼蒂...妳變陳小花囉...哈哈!

匿名 提到...

哇~好想趁此好康來買一間

但是!錢呢?

DADA 提到...

BBM - 放心啦, 陳達達會幫你設計一套適合你的專案 .. 哈哈哈. 呼呼~~~~

PD 麻 - 對喔, 你眼睛真利,我都沒發現呼呼是小花。。 哈哈!休息的如何了阿?

MJ 麻 -你不用買了阿, 我們還再等你們的house warming 也。。 ! 

匿名 提到...

休息的還好...擠奶比較痛苦...漲奶時會有一點小憂ㄩ\呢...