Those aspiring to own real estate who didn’t think they’d make the deadline for a tax credit now have eight thousand more reasons to buy: On Nov. 6, the government extended the $8,000 tax credit for first-time homebuyers for another six months. Instead of expiring on Nov. 30, buyers now have until April 30, 2010 to sign a contract for a home.
My name is Rachel Kaufman, and I don’t understand taxes.
I thought I was doing everything right until tax season. That’s when my tax prep software told me I owed thousands of dollars for my small – by all standards – writing business. Thousands I … didn’t exactly have. Sure, I’d been saving some money to pay the IRS, and I thought it’d be enough, but there I was, scrambling to find a hefty chunk of extra cash. About $2,000 extra.