Wednesday, April 22, 2009

Tips for real estate

By: Bovemsa Cheung

NEW YORK (CNN) - This tax filing season you want to be sure to get all the breaks you can. Want to grab the biggest, most luscious tax credit you can?

"The most valuable credit this year will be the first-time homebuyer's credit, which is worth up to $8,000. So, if you're buying a house for the first time, you get a credit, plus you get the traditional deductions like your mortgage interest, your points, if you pay points, and your real estate taxes," said Bob Meighan, Vice President of TurboTax

But there are income limitations. This credit phases out for joint filers with income of more than $150,000 and single filers with income over $75,000.

1 comment:

  1. Very nice tips you have shared here for home buyers, surely these all tips will be helpful for them to buy their dream home. ali