property taxes | 2008 Taxes

Category Archives: property taxes

You Bought a House, Claim the First-Time Homebuyers Credit

March 3, 2010 – 10:27 pm

There are a number of documentation requirements when you go to file your return for 2009 and you want to claim the First-Time Homebuyers Credit. This great credit of $8,000 helps with fixing up the new house or paying off some moving expenses. But claiming the credit requires a number of documents and filing a paper return with the IRS.

By Steve | Also posted in Tax Preparation, tax credit, turbotax | Tagged 1098, 2009, certificate of occupancy, documents, first-time home buyers, Hud-1, irs, long-term buyer, mortgage interest statements, paper return, retail sales contract, settlement statement, tax credit, tax return | Comments (0)

Property Tax Changes

February 16, 2009 – 12:58 pm

You probably know about taking deductions to reduce your tax liability. To be clear, deductions are not the same as tax credits – deductions are applied to your earned income before calculating taxes, and thus reduce the amount on which you are taxed. Tax credits are more valuable, and are a direct credit towards the tax that is due.

By alannorthcott | Tagged property tax, tax deduction | Comments (2)