2010 Homebuyer Tax Credits Review

It’s tax season again. Doesn’t it seem like we just went through this like, yesterday? While you’re busy trying to gather all those receipts, review your books, and ask your accountant if all those “business” meetings at the titty-bar are write-offs, I thought I would possible fill you in on a big-time tax credit you may be eligible for in 2010. This is a big-time Real Estate Stimulus.

There’s a home buyer tax credit that could amount to a lot of money coming back to you from Uncle Sam. I’ll tell you off-the-bat, this tax credit is getting two thumbs up from the Silly Review crew. Keep reading for some important info and a video explaining it all.

This tax credit has been around and has been extended and expanded.

If you’re a first-time home buyer, you can get an $8,000 tax credit in 2010. There are some limits, though, which include no refund or credit if you’re a single person who makes more than $125,000 annually or a family bringing in over $225,000.

As for the expansion on this tax credit, the credit can now apply to those who wish to “move-on” after 5 years. The amounts of credit differ between first-time home buyers and those “moving on”.