Recently I spoke with Tyler Simms from Hashem & Simms CPA’s and was trying to get a better understanding on the next steps for a 1st time buyer who has just closed on a house. Basically here it is:
Regular salaried W-2
- Amend 2008′s return and you will receive your refund in 8 to 12 weeks! If you’re not the most tax savvy call an accountant and they’ll help walk you through this.
- Cut your 2009 withholding back by the amount of the credit you are qualified to receive.
Self Employed
- Reduce the amount of estimated taxes that you pay in for 2009 by the amount of the credit that you are qualified to receive.
To learn more about the tax credit please check out my previous post:
Incredible Opportunity First-Time Home Buyer Tax Credit
Disclosure
I’m not an accountant but Tyler is and there are many out there. Please do your due diligence and contact an accountant to ensure you are filing appropriately!
Tyler Simms
Hashem & Simms, PLLC
P: 603-526-6809
http://www.hashemandsimms.com/
This IDX solution is (c) Diverse Solutions 2012.
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