Salt Lake New Home Buyers Benefit From Tax Breaks !
"Salt Lake New Home Buyers will benefit from tax breaks." So says our trusted prognosticator from the Salt Lake Home Builders Association, Executive Officer, Curt Dowdle.
Last Saturday, Curt's article (in the Salt Lake Tribune)"a great deal just got even better" outlined 8 reasons why the new American Recovery and Reinvestment Act should provide motivation for Salt Lake "fence sitters" to get off the fence and into a new home.
I hope that Curt will forgive me for borrowing parts and not typing the entire article.There is nothing I can link to, but I would like to mention 3 of Curts points for you to consider. Since we are both about selling homes in Salt Lake, I'm hoping he won't mind.
Don't forget, I'm not an accountant and this should not be considered tax advise.
If your a first time home buyer, and If you think any of these provisions are worth considering before buying a home, please check with your tax people.
Home Buyers benefit because the tax credit is refundable:
If you have no federal tax liability to offset, the government can send you a check for a portion or even all of the refundable tax credit.
Home Buyer benefit is the same as a tax deduction:
This tax credit is a dollar for dollar reduction of what the home buyer owes. IE: If a home owner owes $8000 in income taxes and has an $8000 dollar tax credit, the IRS is owed nothing, zip, nada.
Do Homes Buyers need to wait to benefit until they file the 2009 tax returns?
No ! Qualified Home Buyers can reduce income tax withholding generate more cash on each payday.
The above represent just some of the provisions in the bill. For complete details log onto www.federalhousingtaxcredit.com
Once more let me quote Mr Dowdle. "Buying now is compelling indeed,considering the record low interest rates, incentives on New Homes, and excellent inventories, and an affordability index weighted to the consumer as never before".
Curt is absolutely right!
If you are working with a Realtor, call them today. Start searching for your new home today.
If you don't have a Realtor, call us. We'd love to help you find that new home.
To see how serious we are, visit our web-site @ Salt Lake Real Estate. You can search for foreclosures (Bank Owned) or with just a click on Short Sales look at over 400 Pre-Foreclosures. You can pull up pictures, prices, maps, and almost all the information your Real Estate Agent uses to help you look for a new home.
Or if your old fashioned and want to talk to someone give us a call @ 801-567-0946.
We'd love to discuss your Real Estate needs, or how Salt Lake New Home Buyers Benefit from the Tax Breaks.