More Good News for Homebuyers - Up to $18,000 in Tax Credits!
The State of California is now offering a brand new $10,000 tax credit for homebuyers allowing homebuyers who purchase a home between May 1, 2010 and December 31, 2010 to take advantage of continuing tax benefits after the federal tax credit expires in June, 2010. For first time homebuyers who enter into a contract to buy a home before April 30, 2010, and close escrow before June 30, 2010, that homebuyer will be able to qualify for the $8,000 federal tax credit and the $10,000 California credit for a total of $18,000!
And remember, a tax credit is not the same as a tax deduction. A tax credit means you can get up to $18,000 worth of credit against any tax burden owed which would offset that liability. If you have no taxes due to the IRS or to the State of California, you will get a check back from these governments for the unused credit amount. These are very powerful incentives for homebuyers - first time homebuyers and existing homebuyers. So call me today for more information and consult your tax advisor for specific tax advice.
Kevin P. Cummins, J.D., e-PRO, SFR
Realtor | Broker Sales Associate
Certified Relocation Specialist
Coldwell Banker Residential Brokerage
3810 Valley Centre Drive #906
San Diego, CA 92130
cell: 858-750-9577
web: www.kevincumminshomes.com
mail: kevinpcummins@gmail.com
blog: kevincumminshomes.tumblr.com
