Sunday, November 22, 2009
Sunday, November 15, 2009
Sunday, November 8, 2009
Sunday, November 1, 2009
Thursday, October 29, 2009
Senators agree to extend homebuyer tax credit
Yesterday afternoon we received wonderful news. The first-time homebuyer tax credit which was set to expire at the end November could now been extended to April of 2010. Buyers would have to sign a contract by the end of April, and close on their home no later than June 2010.In addition, a new $6,500 credit will be issued for current homeowners that have had their homes with 5 years or more.
Voting to happen as early as Thursday.
There are 2 credits:
* $8,000 Tax Credit for First-time buyers
* $6,500 Tax Credit for Repeat Buyers who have been in their home at least 5 years
Below is the article by the Associated Press:
Updated 5:56 p.m. CT, Wed., Oct . 28, 2009
WASHINGTON - Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.
The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal.
Senators were still negotiating the expansion of a separate tax credit that lets money-losing businesses get refunds for taxes paid in previous years, providing them with an immediate source of cash.
Senators in both political parties were hoping to add both tax provisions to a bill that would give people running out of unemployment insurance benefits up to 20 more weeks of federal aid. The Senate could vote on the overall bill as early as Thursday, but lawmakers were still haggling over several unrelated amendments Wednesday evening.
Popular bills like the one to extend unemployment benefits often attract amendments that would have a difficult time passing on their own.
Republicans were demanding that they be given a chance to offer amendments to restrict federal aid to the beleaguered community activist group ACORN and on requiring that people receiving unemployment insurance be processed through E-Verify, an Internet-based system that employers use to check on the immigration status of new hires.
Majority Democrats have refused to add the amendments.
Voting to happen as early as Thursday.
There are 2 credits:
* $8,000 Tax Credit for First-time buyers
* $6,500 Tax Credit for Repeat Buyers who have been in their home at least 5 years
Below is the article by the Associated Press:
Updated 5:56 p.m. CT, Wed., Oct . 28, 2009
WASHINGTON - Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.
The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal.
Senators were still negotiating the expansion of a separate tax credit that lets money-losing businesses get refunds for taxes paid in previous years, providing them with an immediate source of cash.
Senators in both political parties were hoping to add both tax provisions to a bill that would give people running out of unemployment insurance benefits up to 20 more weeks of federal aid. The Senate could vote on the overall bill as early as Thursday, but lawmakers were still haggling over several unrelated amendments Wednesday evening.
Popular bills like the one to extend unemployment benefits often attract amendments that would have a difficult time passing on their own.
Republicans were demanding that they be given a chance to offer amendments to restrict federal aid to the beleaguered community activist group ACORN and on requiring that people receiving unemployment insurance be processed through E-Verify, an Internet-based system that employers use to check on the immigration status of new hires.
Majority Democrats have refused to add the amendments.
Wednesday, September 16, 2009
White House may extend homebuyer tax credit- News From AP
Published: September 16, 2009 2:14 PM
WASHINGTON (AP) — The White House is considering extending an $8,000 tax credit for first-time homebuyers.
Spokesman Robert Gibbs says the administration's economic team is evaluating the tax credit's impact on new home sales and will make a recommendation to the president.
The federal tax credit covers up to 10 percent of the home price, or up to $8,000, for first-time buyers. Home sales must be complete by the end of November.
The tax break is credited with helping the number of U.S. home sales rise slowly. Builders and real estate agents say that trend could be reversed if the credit isn't extended.
WASHINGTON (AP) — The White House is considering extending an $8,000 tax credit for first-time homebuyers.
Spokesman Robert Gibbs says the administration's economic team is evaluating the tax credit's impact on new home sales and will make a recommendation to the president.
The federal tax credit covers up to 10 percent of the home price, or up to $8,000, for first-time buyers. Home sales must be complete by the end of November.
The tax break is credited with helping the number of U.S. home sales rise slowly. Builders and real estate agents say that trend could be reversed if the credit isn't extended.
Tuesday, August 4, 2009
Weekly Tip 8-4-09
Don't Say Try!
To sign up to receive video tips directly every week please click HERE
To get more great tips don't forget to go to www.texashomebuyingtips.com
Subscribe to:
Posts (Atom)
