First Time Home Buyer Tax Credit

Tax Credits. I never really knew what they were until now. My house recently got renovated so theres tax credit benefits for that too . First Time Home Buyer Tax Credit is a tax credit for… first time home buyers ! So I’m guessing if you are a first time home buyer, you get more money back than a previous home buyer. So on the site, it says that if you are a first-time, you get $8000, rather than a previous home owner, which will get $6500. I think it also depends on your income and relationship status (married, separated, etc.). The video explains how this tax credit has been extended for a longer time and the income cap has been raised so more citizens will be able to get this tax credit! This is for US citizens. According to the video, once  a home is sold, a chunk of that money benefits the local economy. This will help grow the economy, create jobs. Around 2 million citizens has already been credited in the year 2009. Affordable housing is available now which will benefit first time home buyers and help the economy grow. To find out more about this tax credit, you can visit the website and get more information about this!