Extended Tax Credit for Military

Now that the holidays are over and we are all back into the swing of work. We hope you  have packed away the Christmas decorations and you have I hope taken down the Christmas lights, (note that my outside lights just came down on Sunday) I was thinking about all the gift cards we received for the holidays, We got them to Outback, Carrabas, Shell and Amazon (my fav.)  Guess gift cards are the one thing you can get someone when you have no clue what to get them. I confess I gave a lot of them out this year.

Well Loretta and I were talking about gift cards and saying that the extended tax credit is a lot like a gift card to the activity duty military.

For members of the military, Intelligence and Foreign Service who have served outside of the U.S. for at least 90 days between January 1, 2009 and May 1, 2010. Uncle Sam is giving you a gift card  worth $6,500 to $8,000.
If you qualify you have until April 30, 2011 to get a completed sales contract and then, must close it by June 30, 2011.  The bonus that comes with this gift card is that the recapture of the tax credit doesn't apply if the qualified service member receives government orders to move prior to the three year residency period completion. What this means for you is that if you purchase a home and then Uncle Sam gives you orders before your 3 year recapture period is over you are exempt from having to pay the money back.  If you would like more information go to  additional information, go to IRS.gov.

When your ready to find the perfect home call the perfect team to help you find that home of your dreams. We will hook you up with a local lender who will walk you step by step through the buying process.

Have a great week! Use those Gift cards!