The Tax Resources Blog

Archive for July, 2010

Tax Value Of Homes

Question: What is the actual in hand value of a 15,000 home buyers Tax Break? The one President Obama just signed?

It’s supposed to be for first time home buyers, which I may very well be by the end of the year. If it’s a 15,000 break, what kind of actual refund would that produce. Assume single, no kids, income under 35,000-40,000. I really have no understanding of tax law, b/c I don’t have any deductions at all, currently.

Answer: I think its been amended to any buyer not first time..

FPTV ep. 6: The Property Tax Issue, pt. 1: The Homestead Act