Tax Credits Are Not Just For the First Timers
February 23, 2010
For the better part of a year there has been a great deal of media hype about the $8,000 First Time Home Buyer Tax Credit. Then last fall, the federal government added the $6,500 tax credit for existing homeowners who choose to purchase a new principal residence.
Did you think that if you are ready to down size or move closer to family or move for any reason, if you have owned your present principal residence for five consecutive years out of the past eight, you could be eligible for this $6,500 tax credit.
Then there are the energy efficiency tax credits and rebate programs. Usually these are less than the previously mention ones, but still can be significant. The government has set aside $5 billion for improvements to protect a home from wind, rain and sunlight. There are tax credits for 30% of the cost up to $1,500 available for improvements that lower utility bills. Both the federal government and the California government have programs available to reimburse homeowners for a portion of the cost of converting their homes to solar powered energy.
The Edison Company has programs for rebates for replacing appliances with more energy efficient ones.
If you "Google" "Tax Credits", you can obtain more information about the programs that are presently available. Taking advantage of these energy credits can help reduce your out of pocket costs for making important improvements to your property.
For the better part of a year there has been a great deal of media hype about the $8,000 First Time Home Buyer Tax Credit. Then last fall, the federal government added the $6,500 tax credit for existing homeowners who choose to purchase a new principal residence.
Did you think that if you are ready to down size or move closer to family or move for any reason, if you have owned your present principal residence for five consecutive years out of the past eight, you could be eligible for this $6,500 tax credit.
Then there are the energy efficiency tax credits and rebate programs. Usually these are less than the previously mention ones, but still can be significant. The government has set aside $5 billion for improvements to protect a home from wind, rain and sunlight. There are tax credits for 30% of the cost up to $1,500 available for improvements that lower utility bills. Both the federal government and the California government have programs available to reimburse homeowners for a portion of the cost of converting their homes to solar powered energy.
The Edison Company has programs for rebates for replacing appliances with more energy efficient ones.
If you "Google" "Tax Credits", you can obtain more information about the programs that are presently available. Taking advantage of these energy credits can help reduce your out of pocket costs for making important improvements to your property.
posted by shirley harry at 8:36 AM
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