Tax Time: Do You Have Time For a Tax Credit?

Posted by Phil Boren on Wednesday, April 14th, 2010 at 4:55pm.

As you file your income taxes, it's a good time to ask how a tax credit of up to $8,000 would work about now? The federal homebuyer's tax credit is set to expire April 30th, so you've only got 1 day left to file your taxes on time, but you still have 16 days left to claim that tax credit!

Although we don't know for sure yet, NAR is telling us that it appears unlikely that the tax credit will be extended again this time. You may recall it was originally set to expire last November, but was extended and expanded - extended to April 30, 2010 and expanded to include home buyers who did not qualify as "first-time" buyers. If you're thinking about buying a Boulder home anytime soon, you should consider this deadline. You have until June 30th to close on a qualifying Boulder home that is under contract by 4/30.

Also remember that a tax credit is a lot different and a lot more valuable than a tax deduction, as the credit comes right off the bottom line. There's still time! If you're interested in taking advantage of this opportunity, there are plenty of Boulder homes for sale that qualify. Feel free to call us at 303-441-5647 or contact us online.

Phil Boren
Direct: 303-441-5647
Email: pboren@remax.net
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