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I expect a thank-you note from whoever ends up with my $8K.
And I expect a thank you note from everyone whose kids go to public schools partially financed by my tax dollars.
If this tax credit means more houses in your neighborhood start selling, then it may keep you home's value from dropping even further, and might be the start of a push towards an eventual increase in home prices.
I bought my house here in July 2008 - not my first one either so, no tax breaks for me. But I'm not going to whine about it. If it helps people buy houses here, it means the builders will keep building in our neighborhood - in the end that's going do a lot more for me financially than having to live across from empty, undeveloped lots.
Not to thread-jack, but if housing purchases are receiving benefits retro to 2008, do vehicles as well?
As in deducting the sales tax of vehicles purchased in 2008?
Q: I need to buy a car. Does the stimulus plan help me?
A: It doesn't provide the steep tax credits some prominent economists had advocated but will allow you to deduct from your federal taxes the state sales tax that are associated with buying a car, truck, motorcycle or recreational vehicle. This benefit phases out for single tax filers who have adjusted gross incomes above $125,000 or joint filers above $250,000.
Buying new vehicle even though you get good deal..but looking at property tax + insurance....not sure. I'm thinking of either Leasing or buy a used one.
Ok everyone expecting a thank you note for the $8k. Thank you! I will be getting mine next year and look forward to it. Oh I am a veteran and would like my thank you note for serving for people so stupid to make comments about others getting $8k back for purchasing a home. Please shut up about the $8k who cares. Go buy a house if you want it so bad. We just happen to purchase at the right time and benefit more from it than you did. I don't want a thank you for my service, I don't want a stupid card, or a gift, I just want my country to be safe. This stupid convo about people getting the home credit ends here! ~Over and Out~
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