Comments on: Tax tips for new home owner?

By: Badger Boise

Badger Boise — Mon, 16 Mar 2009 18:28:47 +0000

The most common home owners deductible expenses are mortgage interest and real estate taxes. If your mortgage company charged “points” on your loan those are not deductible in most cases.. Here is an IRS web site that will help you out:

http://www.irs.gov/taxtopics/tc500.html

Occasionaly there are some energy credit credits for additions or improvements to your home to reduce your energy costs.

Note, disregard the one response about the 8K first time buyers credit. It will not apply to you since your purchased your home in 2008. ~

By: Carmelo G

Carmelo G — Mon, 16 Mar 2009 18:14:37 +0000

I own an income tax business as well as other business. Have you applied for the first-time homebuyer credit? You can recieve up to 7,500k or 10% of the sales price below 75,000. Example: 55,000 = 5,500

I myself applied for it and recieved which as a great bonus for me

Have a good one.

http://www.maverickmoneymakerspoint.com

By: BioT

BioT — Mon, 16 Mar 2009 18:11:37 +0000

American Recovery and Reinvestment Act of 2009, formerly known as the “stimulus bill,” first-time home buyers are eligible for a refundable tax credit of up to $8,000 this year. Here is what you need to know in order to claim the credit.