First time home buyer's tax rebate
he still stands
Posts: 2,835
Did anyone else take advantage of this?
WOW.
I assumed that it would be $8,000 to reduce my taxable income.... Nope. You just get $8,000. :shock:
This is the first PLEASANT surprise I've had with the government or taxes... Ever.
WOW.
I assumed that it would be $8,000 to reduce my taxable income.... Nope. You just get $8,000. :shock:
This is the first PLEASANT surprise I've had with the government or taxes... Ever.
Everything not forbidden is compulsory and eveything not compulsory is forbidden. You are free... free to do what the government says you can do.
Post edited by Unknown User on
0
Comments
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yeah...fuck obama eh?
The really cool credit is the "Long Term Residents" credit....it is only $6,500 but you don't have to be a first time homebuyer....Remember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
I totally took advantage of that. I sent my taxes in Monday and can't wait for the big pay day.
If I were only reducing my taxable income by $8K, there wouldn't have been such an incentive for me to buy...but I did it for the $8K check. Plus, it was a good time to buy in my opinion...prices were near bottom and it made sense.0 -
This is a very good deal. It was supposed to end last year but they extended it into this year. I'm trying to take advantage of it before the deal ends.Be Excellent To Each OtherParty On, Dudes!0
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Great idea...give people money so they buy houses that they couldn't otherwise afford...so we end up where we were several years from now. Of course, there will be a different guy in the big office to blame at that point.
hippiemom = goodness0 -
I took advantage of it. In all honesty, I was gonna get a home either way, but the timing worked out. I think the program is a poor idea and doesn't really "fix" much or address the real issues in the market, but I'll take the government's money.. so f'em.CONservative governMENt
Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a law-breaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. - Louis Brandeis0 -
yeah I was going to buy anyway so I didn't pay much attention to this... I knew it was available and it was just another reason to buy.
$8,000 baby! Well... half of it goes to my ex...
$4,000 baby! Well... $3,500 goes to debt
$500 baby! Well... I should start a college fund for my son...
$20 baby! I'll go out and buy a case of Keystone...
Everything not forbidden is compulsory and eveything not compulsory is forbidden. You are free... free to do what the government says you can do.0 -
Shame on you for paying less taxes. Don't you know that's a sin.The only people we should try to get even with...
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.0 -
cincybearcat wrote:Great idea...give people money so they buy houses that they couldn't otherwise afford...so we end up where we were several years from now. Of course, there will be a different guy in the big office to blame at that point.
wrong....you have to qualify to buy the house regardless of the credit
you won't get the credit until you file your taxesRemember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
I am trying my best to make it happen. We put a bid in, on a house 2 weeks ago, and we are waiting for a response. It is a foreclosure.
The house sold for $239K 10 years ago....
The house sold for $279K 5 years ago......
The bank is asking for $139K!!!!!
As long as I can get under contract by April 30th, and close by June 30th.....The good Lord Obama will cut me a check for 8K....
Small 2 bedroom ranch, with a nice big backyard, and when the good Lord Obama sends me my 8K, I will be going out and price some swimming pools....
Party at SPEEDY"S!!!!!!!Post edited by SPEEDY MCCREADY onTake me piece by piece.....
Till there aint nothing left worth taking away from me.....0 -
cincybearcat wrote:Great idea...give people money so they buy houses that they couldn't otherwise afford...so we end up where we were several years from now. Of course, there will be a different guy in the big office to blame at that point.
:? a tax credit has no affect on how much $$$ the bank is willing to lend... or at least a VERY small affect. If your household income is $80k then they (might... probably not) add in $8k for 2010 income so that your household income is now $88k... One year of a relatively small amount of additional income might add a few thousand to the top end and hence a few dollars per month over the next 360 months. More likely, it will have zero affect...Everything not forbidden is compulsory and eveything not compulsory is forbidden. You are free... free to do what the government says you can do.0 -
I missed the starting date by like a month when we bought our house... bastards.My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln0 -
If by chance I dont close in time, for the 8K tax credit, I am not going to worry about it. Yes, of course, I would love to receive a check for 8K, but if it doesn't happen, it will be ok. The way the housing market is, and with interest rates being where they are, I have the opportunity to purchase a house, and have my mortgage payment, with property taxes, and insurance, be identical to what I pay in rent. Plus I am hoping to work out, being a 1st time home buyer, a 5-10% down payment, with my closing costs being thrown into my mortgage. But if the bank wants 20% down, then I will cut the check. If I can get by with a 5-10% downstroke, and keep MY MONEY in my checking account, I will be thrilled. Putting 20% down, doesn't really change my monthly payment, all that much.blackredyellow wrote:I missed the starting date by like a month when we bought our house... bastards.Take me piece by piece.....
Till there aint nothing left worth taking away from me.....0 -
SPEEDY MCCREADY wrote:If by chance I dont close in time, for the 8K tax credit, I am not going to worry about it. Yes, of course, I would love to receive a check for 8K, but if it doesn't happen, it will be ok. The way the housing market is, and with interest rates being where they are, I have the opportunity to purchase a house, and have my mortgage payment, with property taxes, and insurance, be identical to what I pay in rent. Plus I am hoping to work out, being a 1st time home buyer, a 5-10% down payment, with my closing costs being thrown into my mortgage. But if the bank wants 20% down, then I will cut the check. If I can get by with a 5-10% downstroke, and keep MY MONEY in my checking account, I will be thrilled. Putting 20% down, doesn't really change my monthly payment, all that much.
Yeah, not the end of the world, because it's not like the $8k would have changed our budget or type of house we were looking for.... but having an extra $8,000 cash when we moved in would have been nice to do some of the improvements that we have been saving up for/working on for the last year and a half.My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln0 -
8K can go a LONG WAY!!!!blackredyellow wrote:
Yeah, not the end of the world, because it's not like the $8k would have changed our budget or type of house we were looking for.... but having an extra $8,000 cash when we moved in would have been nice to do some of the improvements that we have been saving up for/working on for the last year and a half.
New Washer
New Dryer
New Big screen TV
New Oven
New Fridge
New Patio furniture
New Lawn mower
With plenty left over, that you can throw in the bank.Take me piece by piece.....
Till there aint nothing left worth taking away from me.....0 -
:?SPEEDY MCCREADY wrote:June 31stRemember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20 -
Gern Blansten wrote:
wrong....you have to qualify to buy the house regardless of the credit
you won't get the credit until you file your taxes
Sorry, feeling sarcastic and negative today, I was joking, hence the smiley.hippiemom = goodness0 -
Hey, I am curious. What type of improvements have you been saving for?blackredyellow wrote:I missed the starting date by like a month when we bought our house... bastards.
If we get this house we bid on, it looks like I will first and foremost, put a new layer of shingles on the roof. The kitchen and bath are basically brand new, new fixtures, new countertops. I now damned well I will probably tear down the garage in a year or 2 and put up a new one. Also if not this summer, than next summer. I will install a new fence.
Again, thats IF I get the house.
What improvements did you have to do?
Im just curious, and I feel like talking.Take me piece by piece.....
Till there aint nothing left worth taking away from me.....0 -
Take me piece by piece.....
Till there aint nothing left worth taking away from me.....0 -
SPEEDY MCCREADY wrote:Hey, I am curious. What type of improvements have you been saving for?
If we get this house we bid on, it looks like I will first and foremost, put a new layer of shingles on the roof. The kitchen and bath are basically brand new, new fixtures, new countertops. I now damned well I will probably tear down the garage in a year or 2 and put up a new one. Also if not this summer, than next summer. I will install a new fence.
Again, thats IF I get the house.
What improvements did you have to do?
Im just curious, and I feel like talking.
We really didn't have to do anything right away, but there were some expenses. We had to buy a new refrigerator, washer/dryer, lawnmower (and other stuff we didn't need in an apartment).
We are finishing our basement now (with income tax refund money). So far that has only cost about $1500, but we still have to get the drywall finished and carpeting.
Our house was built in 1987 and it has the original roof and furnace in it... both are doing good, but they are pretty much at the end of their life spans, so in the next couple of years those will probably be expensive projects.
Other stuff we'd like to do is landscaping/new fence, update one of the bathrooms, repave the driveway, new garage door... etc etc etc.
As everyone will tell you, there is always something to do.
Fuck, $8k would have been nice lolMy whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln0 -
blackredyellow wrote:
We really didn't have to do anything right away, but there were some expenses. We had to buy a new refrigerator, washer/dryer, lawnmower (and other stuff we didn't need in an apartment).
We are finishing our basement now (with income tax refund money). So far that has only cost about $1500, but we still have to get the drywall finished and carpeting.
Our house was built in 1987 and it has the original roof and furnace in it... both are doing good, but they are pretty much at the end of their life spans, so in the next couple of years those will probably be expensive projects.
Other stuff we'd like to do is landscaping/new fence, update one of the bathrooms, repave the driveway, new garage door... etc etc etc.
As everyone will tell you, there is always something to do.
Fuck, $8k would have been nice lol
watch the tax credit for a new energy efficient furnace....30% of cost up to $1,500Remember the Thomas Nine !! (10/02/2018)
The Golden Age is 2 months away. And guess what….. you’re gonna love it! (teskeinc 11.19.24)
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Wrigley; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
2020: Oakland, Oakland: 2021: EV Ohana, Ohana, Ohana, Ohana
2022: Oakland, Oakland, Nashville, Louisville; 2023: Chicago, Chicago, Noblesville
2024: Noblesville, Wrigley, Wrigley, Ohana, Ohana; 2025: Pitt1, Pitt20
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