Audra Lowe: We make lots of resolutions when it comes to the new year so why not add
getting your taxes done early to that list? Making it easy for all of us is
taxlayer.com tax specialist Darcel Walker. Darcel is back with the latest
information and when it comes to getting that home buyer credit a lot of
people asking about that, welcome back Darcel.
Darcel Walker: Thank you.
Audra Lowe: And good to having you here. A lot of talk, a lot of excitement about the
first time home buyer credit but also a lot of changes since it first came out
last year. Important changes that people need to know about, what are
those?
Darcel Walker: Well the first time home buyers can have a lot of visions it will set to
expire on November 30th 2009 but it has been extended to April 30 of
2010. Now cases when there is a sells contract attach perhaps until June 30
of 2010.
Audra Lowe: Okay.
Darcel Walker: The tax credit is work up to 10% of the purchase price of the home all the
way up to a maximum of $8000 so it is a refundable tax credit to the tax
payers considers refund g out by lot of money.
Audra Lowe: That’s a nice and lots of money so we are not going to playing about that
too. So what about people that previously on the home, let say that they
bought another home or they want to buy another home and use that as
there primary residence, still if I am?
Darcel Walker: Well there is something for them as well, they could qualify for a tax
credit about $6500 now this tax credit it is for tax payers who buy home
from November 6 of 2009 until April 30th of 2010 so there is a little
window of opportunity there. This tax credit the person has to leaving the
home for five consecutive years out of an eight year period so there are
some requirements there but once again it is a refundable tax credit it’s
work up to $6500 and once again the person could actually increase the
refund and buy it $6500 if they take advantage to this credit.
Audra Lowe: And on both cases you guys make it so easy for people to figure out how
much of a credit they can get and maximize there return with
taxlayer.com.
Darcel Walker: Yeah that’s right.
Audra Lowe: And then to figure out themselves.
Darcel Walker: That’s right, taxlayer.com make us so easy, we have our new tool called
extreme refund generator and this new tool basically see that deduction
and credit in order to maximize everyone tax.
Audra Lowe: Looks that it for you right.
Darcel Walker: That’s correct.
Audra Lowe: Good news, thank you so much Darcel. Good to have you back.
Darcel Walker: Thank you.
Audra Lowe: And remember for more great tips and easy ways to get your taxes on
track you can log on taxlayer.com.