Comments on: Georgia’s $1,800 Tax Credit Update http://www.atlantarealestateforum.com/georgias-1800-housing-tax-credit-19164/ Atlanta real estate, new home builders, developers, communities and market trends blog in Atlanta, GA Wed, 23 May 2012 09:56:13 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Brenda Knight http://www.atlantarealestateforum.com/georgias-1800-housing-tax-credit-19164/comment-page-1/#comment-67735 Brenda Knight Wed, 23 Dec 2009 16:50:32 +0000 http://www.atlantarealestateforum.com/?p=19164#comment-67735 Yes, I had realized that when the federal credit was extended, it left the GA one still expiring 11/30/09. I think we should all start a campaign to contact our GA representatives and senators. One of them will need to submit the bill and even though it might not get approved until nearly the end of April, it would still be nice. Have you had clients who are confused about the GA credit? It appears that one must owe at least $600 in taxes (after withholding has been deducted) to be able to qualify. Most who are planning on claiming it will need to adjust their withholding during the year to make sure they qualify. This can get tricky because the first time buyers will also get a boost because they'll have an interest deduction too. Yes, I had realized that when the federal credit was extended, it left the GA one still expiring 11/30/09.

I think we should all start a campaign to contact our GA representatives and senators. One of them will need to submit the bill and even though it might not get approved until nearly the end of April, it would still be nice.

Have you had clients who are confused about the GA credit? It appears that one must owe at least $600 in taxes (after withholding has been deducted) to be able to qualify. Most who are planning on claiming it will need to adjust their withholding during the year to make sure they qualify. This can get tricky because the first time buyers will also get a boost because they’ll have an interest deduction too.

]]>