Every year I get a "Year End Tax Letter" from my trusted accountant.  And every year I read through it to see how it might effect me from both from a family and a business stand point.

Interestingly enough, the 1st paragraph this year happens to relate to both.  Please read below this information from my accountant Brenda Story...

...This has been a busy year with the passing of the American Recovery and Reinvestment Act and the Worker, Homeownership, and Business Act.

Unemployment tax benefits, the homeowner tax credit and the net operattion loss carry back rules are extended into 2010.  The first-time homeowner tax credit of $8,000 is extended to 4/30/10 (Close by 6/30/10 with a written binding contract entered into by 4/30/10).  A new credit to qualifying existing homeowners of $6,500 is added when a new primary residence is purchased if the old residence has been used as a principle residence for any five consecutive years out of eight years prior to the purchase....A new Form 5405 is required to be used for all 2009 returns that claim the credit and for all qualifying home purchases after 11/6/2009.

Time will be running out on this great incentive as we will have just 4 short months after the new year to take advanage of the credit.

I hope this information helps, and as always...if you know of anyone that is interested in buying or selling a home, please pass their name and contact info on and I will be sure to take grate care of them!