$10000 California Tax Credit For First Time Home Buyers

In California you can get $10,000 off your taxes just for buying a home. Low home prices and a tax deduction, what else could you want. Take advantage of the 2009 American Recovery and Reinvestment Act of 2009. You can now get a $8000 tax credit just for buying a new home. California is $10000. That's dollar for dollar against your federal income tax returns. You must be a first time home buyer to be eligible for the program. The home must be your primary residence as well. The home you buy must be from someone that is not related to you.

8000 tax credit information

Energy Efficiency Tax Credits

You must buy and install the energy efficient appliance/upgrades between January 1, 2009 until December 31, 2010.

The energy efficient improvements must be done on your home, principle residence.

If you make the energy efficient improvements to your second home or rental/investment properties by installing solar water heaters, solar panels, small wind energy systems you may be eligible for tax credits under the American Recovery and Reinvestment Act of 2009.

The max tax credit that is allowable is $1,500 for all of the energy efficient improvements you make, except for the instances where you installed : geothermal heat pumps, solar water heaters, solar panel arrays, fuel cells, and small wind energy systems. These items are not subject to the $1,500 cap and eligible for a larger 30% tax credit. Special provisions apply to fuel cells and building a new principle residence. (please contact your tax preparer for more information on this).