The First-time Homebuyer Credit Deadline is coming to an end soon! In order to participate there are several qualifications, but first and foremost, your new home has to CLOSE by November 30th at the latest. This means you would need to be in escrow by November 1st and pray for a traditional 30-day escrow where nothing goes wrong causing a delay. Are you planning to take advantage of this credit? You need to to wrap up your transaction soon!
If you plan to purchase a home, call us if you do not know if you qualify. You do not want to find out afterward that the money is not available to you. First and foremost is that the money will not be distributed to you until after the transaction has closed and you have claimed the purchase on your tax return for 2008, or wait until your tax filing for 2009. Happy home shopping! We hope this credit works out for you!
Contact for more info:
EVA SMITH & ASSOCIATES, EA
PH (510) 889-8885 | FX (510) 889-8765
Tax Preparation, Accounting & Consulting Services Individuals, Small Businesses, Bookkeeping & Payroll