Tag Archives: IRS

When Do I Have to Pay Back My First-Time Homebuyer Credit?

I was asked this question recently by a home owner and thought that this would start to be a more and more common question as we near the 36 month deadline established by the government when they instituted the  Housing and Economic Recovery Act. More specifically, they asked, “What happens to my tax credit if I […]

Understanding Tax Deductions for Rental Properties – Guest Blogger

Under the current economic distress, many U.S. households again see the benefit of renting versus home ownership. Others, unfortunately, have been forced to surrender their homes to financial institutions that hold their mortgages and return to their former status as contented tenants. These challenges can represent opportunities for investors in residential rental properties. Tax laws favor investors in […]