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HOW THE HOMEBUYER TAX CREDIT WOULD WORK
Tax credit: 10% of the purchase price of a primary residence, up
to a maximum of $8,000 for first-time homebuyers and $6,500 for
repeat buyers. First-time homebuyers are defined as people who
have not owned a home in the previous three years. Repeat
buyers must have owned their current home at least five years.
The credit cannot be used for houses costing more than $800,000.
Deadline for qualifying: Purchase agreements must be signed by
April 30, 2010, and closings must be final by June 30.
Military deadline: The deadline is extended by a year for members
of the military who have served outside the U.S. for at least 90 days
from Jan. 1, 2009, to May 1, 2010.
Income limits: Individuals with annual incomes up to $125,000
and joint filers with incomes up to $225,000 qualify for the full credit.
Individuals with incomes up to $145,000 and joint filers with
incomes up to $245,000 qualifyfor reduced credits.
How to apply: Taxpayers can claim the credit on their federal
income tax returns. If the credit exceeds their tax bill, the
government will issue a payment. Taxpayers who want immediate
refunds can amend their tax returns for 2008 to claim the credit.
*USA Today - Source: Joint Committee on Taxation
Express News 12/22/09 - Military to add jobs in San Antonio
Military construction accounted for the majority of commercial projects in
San Antonio this year. But as construction winds down, new job opportunities
will be available at the city's bases.
Hundreds of administrative, research and civilian personnel will be coming
to San Antonio's military bases in 2010. Not all of the military's civilian
contractors will want to relocate, and experts say that means the military
will be looking to hire locally.
The military will transfer about 5,500 jobs to Fort Sam Houston from other
installations by 2011 as a result of consolidation by the Defense Base
Realignment and Closure Commission, commonly known as BRAC,
said Clarence “CEM” Maxwell, deputy director of the San Antonio Joint
Program Office. More than 60 percent of the people who currently hold
those positions are civilians who the military cannot order to relocate to
San Antonio, Maxwell said.
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