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A $8000 Tax Credit is available for First Time Home Buyers.
A first time home buyer is defined as someone who has not owned a principal residence
during the three years prior to the purchase.
This Tax Credit does NOT have to be repaid, as did the previous Tax Credit,
if the property is held for a minimum of three years.
The Tax Credit is available for homes purchased on or after
January 1, 2009 and on or before November 30, 2009.
You can take advantage of the Tax Credit relative to your 2008 Tax Year:
The Tax Credit can be applied against your 2008 Tax Return
that is generally filed on or before April 15, 2009.
If you have already filed your 2008 Tax Return, you can immediately amend your return
once you purchase a home and you should receive a refund in 30 to 60 days!
If your home closing is scheduled to occur after April 15, 2009, you can choose to file an extension to October 15, 2009 Tax Return to take advantage of the Tax Credit and receive your refund.
You should consult with a tax professional to determine how best to take advantage of the Tax Credit related to your personal situation.
If you received or are planning to receive a personal loan from friends or family members to use towards the down payment of your home, the refund you may receive as a result of the Tax Credit can assist you in paying them back in a timelier manner.
For more information on advantages of being a First Time Home Buyer and Sonoma County Property, go to www.KQuinones.ServingSonoma.comProfileService Type: Real EstatePowered by vFlyer.comvFlyer Id: 2403085
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