Tax Planning
March 10th, 2001
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Tax Planning
Question: Is the government planning to extend the $8,000 tax credit when you purchase a house?
I hear people talking about it but I’ve yet to find anything that says they are planning to.
Answer: When they first passed this $8,000 law- everyone was told it was a certain bet that the law would be for $15,000 and would be open to everyone. In the last few moments – just before the vote- everything was changed to make it $8,000 and just for 1st time home buyers.
My sense is that we never really know what congress will do until after they do it.
I wish they would let this expire and then pass a new one a few days later for $3,000.
That might help wean us off of this government program.
Tax Planning & Diversification of Personal Wealth-Part 3
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