|
Tax Credit
There is up to a $8,000 federal tax credit from the U.S. Government when you build an Energy Custom Home. Have you heard about the new tax credit for qualified new homebuyers? We are here to answer your questions about the first-time homebuyer tax credit and help you make the most of this unique opportunity.
Energy Custom Homes has the answers about the $8,000 Homebuyer Tax Credit.
| Am I eligible? |
If you have not owned a home in the past three years, you may qualify (That's right, even if you or your spouse owned a home more than three years ago, you are still considered first-time homebuyers and may qualify for the tax credit.) For additional eligibility requirements, visit the Federal Housing Tax Credit Website. |
| Am I entitled to the full $8,000 tax credit? |
| It depends on the price of your home and your modified adjusted gross income (MAGI). The credit amount is 10 percent of the home's purchase price, not to exceed $8,000.
To receive the maximum tax credit of $8,000, you must have a modified adjusted gross income below $75,000 for individuals or $150,000 for joint filers. If that excludes you, take note: There is a reduced tax credit available for individuals with a modified gross income of up to $95,000 or $170,000 for joint filers. |
| How does the credit work? |
A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. |
| What does it mean that the credit is refundable? |
If your eligible tax credit is more than what you owe in taxes, the balance will be refunded to you.
Click here for an example. |
| How can Energy Custom Homes Help? |
| With more than 16 years of homebuilding experience, Energy Custom Homes has helped thousands of people just like you realize the American dream of home ownership.
We like to think that Energy Custom Homes is a better way to a better home. And with offers like the first-time homebuyer tax credit, this is a great time to buy. |
|
