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We bought our first House November 30th. Yesterday we received our First Time Homebuyer's Tax Credit check in the mail. It is so nice to finally be able to pay off some of my debt! By paying off certain debts I have managed to free up nearly $500 a month that would otherwise be going to bills. Now I can finally afford to save up for my ultimate backyard kitchen!It feels as if I am walking on air with all that weight lifted off my shoulders.

Congrats!!

I would think you could drop this in the political asylum section. The homeowners tax credit is a nice thing but I'll hold on my comments.

Quote, originally posted by Whelan »I would think you could drop this in the political asylum section. The homeowners tax credit is a nice thing but I'll hold on my comments.I don't think Lava is looking for a discussion on Obama as mush as the new house and the nice check he got in the mail.

My CPA is annoyed with it because it means he had to file my taxes by hand rather than online (aka send in a paper copy). Than again, I was also annoyed because I chose not to amend my 2008 return (thinking I'd rather have the credit in 2009 to offset business income). Well, then the business was *too* successful (can't believe there would be such a thing) so we weren't eligible for it anymore! The system thought we were "rich!" Yeah right, I just bought a house, spent money on building a home office and all this expensive equipment and lawyers and licenses and all that stuff to run a business with this money! Luckily the aforementioned CPA was able to bring down our taxable income with our painstakingly kept financial records of expenses, so we got some of it back... Was just kinda mad because we're doing all the "right things" (put down the full 20% on the house, starting a small business, stimulating the American economy, etc.) and then suddenly all these helpful credits dried up... Had to pay back my stupid "make work pay" credit too what with the whole "working two jobs that individually were under the limit but together were over the limit" thing...But hey, I'm glad it did things for you! It helped out a friend of mine too who just bough a house! We had a similar thing happen with a gift from one of my husband's grandparents, out of the blue... it was like... WOW we can pay off the credit cards and put more in savings!

There was a 750$ first time homeowner tax credit in Canada last year but it was only available for houses purchased between Januray 29th and December 31st..... I bought mine on January 12th before they announced it.... had I known....

Quote, originally posted by Whelan »I would think you could drop this in the political asylum section. The homeowners tax credit is a nice thing but I'll hold on my comments.Knock it off now... Apparently you still do not know how to "hold on to my comments" as one still managed to find its way onto the forum. Quote, originally posted by VforVIBE »I don't think Lava is looking for a discussion on Obama as mush as the new house and the nice check he got in the mail.Pretty muchQuote, originally posted by ponta2147 »My CPA is annoyed with it because it means he had to file my taxes by hand rather than online (aka send in a paper copy). Your CPA told you this? I would of asked them WTH does that have to do with you doing your job that I am paying you to do...

I don't know if the homeowners tax credit was Obama's idea, but since I as a taxpayer am funding your tax credit, I'll say "You're Welcome"

Yeah, I wasn't trying to get all political. I am well versed in the political side of this matter but just wanted to share in my excitement.I even stimulated the economy by taking my 3 neices on a small shopping spree last night. It just feels great to not have to scrape for pennies between paychecks for once.Time to go home and pop open a cold one!

Quote, originally posted by joatmon »I don't know if the homeowners tax credit was Obama's idea, but since I as a taxpayer am funding your tax credit, I'll say "You're Welcome" Hey now, I never said I didn't pay my taxes...so in fact I am paying myself as well. Thank you anyway. I will/have put it to good use!

Quote, originally posted by PHXLavaVibe »We bought our first House November 30th. Yesterday we received our First Time Homebuyer's Tax Credit check in the mail. It is so nice to finally be able to pay off some of my debt! By paying off certain debts I have managed to free up nearly $500 a month that would otherwise be going to bills. Now I can finally afford to save up for my ultimate backyard kitchen!Politics aside, congrats on using it to pay off debt and free up monthly cash flow! Positive cash flow is essential. And you're exactly right to "save up" for the backyard kitchen, rather than borrowing the money for it and kissing your new cash flow goodbye.Enjoy.

So what's going into the backyard kitchen?

Quote, originally posted by ou.grizzly »Your CPA told you this? I would of asked them WTH does that have to do with you doing your job that I am paying you to do... Naw, he just said it in passing. It's just a pain in the (removed) because we've got so many different deductions and crap from all the various things we've done in business that it's a more complicated return to start with. I just joked with him that I was giving him lots of practice.

Was very tempted to pull the trigger on buying a house as well... tough to pass up that tax credit. Realized I need just a bit more savings first. Congrats to you for being able to take advantage of the program! Can't wait to see pics of that backyard kitchen

I guess I should clarify a little. It will be more of a Grill island than a kitchen. I have it fully designed in 3D already but unfortunitly I can't provide any pics yet. There will be ample seating, storage, counter space, and a nice 3- tier herb/flower garden. My cost estimate brings the total up to around $1000. By designing it and building it myself I will be saving a ton of $$$.More than likely it will be about a year before I can report any progress on it.

Quote, originally posted by PHXLavaVibe »I guess I should clarify a little. It will be more of a Grill island than a kitchen. I have it fully designed in 3D already but unfortunitly I can't provide any pics yet. There will be ample seating, storage, counter space, and a nice 3- tier herb/flower garden. My cost estimate brings the total up to around $1000. By designing it and building it myself I will be saving a ton of $$$.More than likely it will be about a year before I can report any progress on it.That sounds fabulous! What a great place for outdoor lounging and entertaining! Better not show my husband or he'll get jealous. Then again we don't have a place with a yard... lol

I just did a couple rough sketches of what my Grill Island will hopefully look like. Here's the 1st one...

Attached files

Here's an isometric view for those who don't get the concept.

Attached files

Kewl !

I can hear the steaks sizzling already!!!

...beware of what "Uncle Sam" gives with one hand, he/she taketh with the other hand...either quarterly or in lump-sum on April 15th.

Where is my reserved seat and the beer cooler?

Nice grill!EDIT: As a taxpayer, I, too, forgot to say "you're welcome" for the 1st time buyer credit