The initial expiration of the first time home buyer tax credit was November 30th, 2009 and many first time home buyers rushed out to buy a home in September and October. If you purchased a home last year you should give us a call today (808) 591-8006.
Also, the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence has been extended. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.
The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.
The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult with one of our qualified tax advisor or legal professional about your unique situation by calling (808) 591-8006.
Are you selfemployed? Filing your business taxes in Hawaii this year? ...then you should know a few things about Hawaii's Form Schedule C and/EZ tax filing.
When you own an unincorporated small business by yourself, the IRS considers you a sole proprietor. This means you have some extra tax-filing work to do.
We can help! Call us at 808.591.8006
Your business earnings (or losses) are included as part of your individual income tax filing. To determine just how much to report on your 1040 (and you must use the long form), you itemize your operational income and expenses on either Schedule C or Schedule C-EZ.
time home buyers rushed out to buy a home in September and October. If you purchased a home last year you should give us a call today (808) 591-8006. 
