$8000 reasons to consider buying a home…

Every Realtor mentions this…

…but what is a Tax Credit? Let’s dive into this very briefly and then see how this stacks up with other Real Estate ownership factors.

Definition of a Tax Credit

The definition of a Tax Credit is an item that reduces your actual tax. It differs from a tax deduction that reduces only your taxable income.

Definition of a Tax Credit

A tax credit is generally much more valuable than a deduction. The tax credit reduces the actual amount of tax that must be paid. A deduction, on the other hand, only reduces the taxable income. Therefore, the tax deduction is subject to the variation in the progressive tax rate. A tax credit does not depend on the tax rate and so it is of equal value to a taxpayer regardless of his income level.

In other words….its as good as CASH to the bottom line of your Tax Refund. If you are already getting $2500….just add another $8Grand…and you have your new refund of over $10k.

Please consult a tax advisor for more info.

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