House buying tips & house hunting help for first time homebuyers
The new law sweetens a provision known as the "first-time homebuyer credit." In essence, if you meet certain qualifications, you may be eligible for a tax credit of as much as $8,000. You also have a choice of claiming the credit on your federal income-tax return for 2008 or 2009. A credit is typically more valuable than a deduction, since it eliminates your taxes on a dollar-for-dollar basis — and in this case, you may get it even if you don't owe any taxes.
Read More From Orginal Site