Tax Refund Home Buyers
Question: Does the first time home buyer tax credit provide a refund if you dont use all of it? And if not does it carry?
Does the first time home buyer tax credit provide a refund if you dont use all of it? And if not does it carry forward into the next year if you dont use all of it?
Answer: Not sure what you mean by “if you don’t use all of it”. It’s a refundable credit, so if for example your tax liability was $3000 and your credit was $7500, you’d get a check for the other $4500. If you don’t use all of it because the house you buy doesn’t qualify for the full $7500 credit, then no it doesn’t carry over, since a house you’d buy the next year wouldn’t be a first time home buy.
IRS to begin regulation of paid tax preparers
MIAMI — The nation’s roughly 1 million paid tax preparers will soon be regulated by the Internal Revenue Service, which plans to require competency tests and registration with the government.
Recovery: New Homebuyer Credit – November 2009
Income Verification For Mortgage
Question: I have been selected for FAFSA verification and they are asking me for property value will this affect me?
My mom’s income tax return reported a deficit in incoming cash flow (we do live paycheck to paycheck) she doesn’t have a bank account or anything in savings. She does own a house with no mortgage to pay on it and the property tax assessment says the house is worth about 147k…will this affect my financial aid eligibility?
Answer: I highly doubt it. Owning a home — YOUR RESIDENCE — is different than owning real estate as an investment (aside from your place of residence). You should be fine.
IT contractors’ financial review of 2009
The year that was 2009 was certainly an unprecedented 12 months for the UK’s contractor community. What follows is a potted history for contractors of the key financial landmarks that shaped the year
Six Figure Income Mortgage Training (Vol.6)