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Old 02-06-2009, 07:54 AM
 
2 posts, read 3,381 times
Reputation: 12

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Email your senators to make it retroactive to jan 2008!!!!!!!
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Old 02-06-2009, 08:05 AM
 
Location: Castle Hills
1,129 posts, read 2,284,142 times
Reputation: 605
Quote:
Originally Posted by forcedfx View Post
You'd be better off throwing that money into your mortgage to pay down your principle.
100% correct. You can say you don't need it but throwing it on your mortgage and savings thousands and thousands of dollars would make me think differently.
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Old 02-06-2009, 08:37 AM
 
14,806 posts, read 18,801,729 times
Reputation: 11772
Quote:
Originally Posted by rronnieboy View Post
Email your senators to make it retroactive to jan 2008!!!!!!!
I'm going to email my senator and tell him/her that I'll buy my 1st house if they give me $30 instead of $15 (I just had to say that)
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Old 02-06-2009, 09:14 AM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,449,407 times
Reputation: 867
Quote:
Originally Posted by rronnieboy View Post
Email your senators to make it retroactive to jan 2008!!!!!!!

Click here: Johnny Isakson, United States Senator from Georgia

Click on "Contact Us" and make your request...
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Old 02-06-2009, 09:21 AM
 
943 posts, read 3,715,505 times
Reputation: 419
Default "Tax Liability"

I'm sorry but this (tax liability) part of the bill is confusing then hell out of me? When they say tax liability it what you owe at the end of filing or is it what you have paid total for the year? If you brought a house lets say for exactly 15,000 in what situations would you not receive the $15,000. Can somebody break down how this "tax liability" thing works with numerical examples. Thanks.
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Old 02-06-2009, 09:26 AM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,449,407 times
Reputation: 867
Quote:
Originally Posted by Kootr View Post
Click here: Johnny Isakson, United States Senator from Georgia

Click on "Contact Us" and make your request...
"Thank you for contacting the office of U.S. Senator Johnny Isakson. We have received your question or concern. If you need immediate assistance, please call our Washington office at (202) 224-3643 or our Georgia office at (770) 661-0999."

Call (202) 224-3643 and talk with Jill in the Senator's office. She will pass your request on to the Senator that wrote this bill.
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Old 02-06-2009, 09:32 AM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,449,407 times
Reputation: 867
Quote:
Originally Posted by ogplife View Post
I'm sorry but this (tax liability) part of the bill is confusing then hell out of me? When they say tax liability it what you owe at the end of filing or is it what you have paid total for the year? If you brought a house lets say for exactly 15,000 in what situations would you not receive the $15,000. Can somebody break down how this "tax liability" thing works with numerical examples. Thanks.
Tax liability is what you owe the Federal government after filing your tax return.

In your example, if you bought a $15,000 house (pretty cheap price!) you would receive 10% or $1,500. The tax credit is $15,000 or 10%, whichever is lower.
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Old 02-06-2009, 09:44 AM
 
943 posts, read 3,715,505 times
Reputation: 419
Quote:
Originally Posted by Kootr View Post
Tax liability is what you owe the Federal government after filing your tax return.

In your example, if you bought a $15,000 house (pretty cheap price!) you would receive 10% or $1,500. The tax credit is $15,000 or 10%, whichever is lower.
sorry I meant $150,000.
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Old 02-06-2009, 09:47 AM
 
943 posts, read 3,715,505 times
Reputation: 419
Quote:
Originally Posted by Kootr View Post
Tax liability is what you owe the Federal government after filing your tax return.

In your example, if you bought a $15,000 house (pretty cheap price!) you would receive 10% or $1,500. The tax credit is $15,000 or 10%, whichever is lower.
So lets say the government owed you $1000 after filing, would you get back a total of $16000 when you get your return if you purchased a $150,000 home?
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Old 02-06-2009, 10:06 AM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,449,407 times
Reputation: 867
Quote:
Originally Posted by ogplife View Post
So lets say the government owed you $1000 after filing, would you get back a total of $16000 when you get your return if you purchased a $150,000 home?
No, you'd get back $14,000.

$15,000 (tax credit) minus $1,000 (tax liability) equals $14,000.
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