Lower Your Taxes First Time Home Buyers Minneapolis

Did you know that most Americans will work 110 days of the 365 days this year just to pay their income taxes? That is a lot of money if you think about. That doesn’t include taxes for everyday purchases such as gas, T.V. soda or DVDs. What if you could lower your taxes and keep more money in your pocket to save for a raining day or start your own business? If you purchase a home by July 1^st 2009 you can use the federal $7500 tax credit and all the other tax deductions you get when you purchase a home. Some people say that you shouldn’t buy real estate right now, but if you can save money and make money, by putting more cash in your pocket, doesn’t it make sense to do it. Here is a good idea. Find a house for around $100,000. Right now there are 91 multi-family houses on the market in Minneapolis and not North Minneapolis that are under $100,000. You could purchase one of these and rent out the other unit and live for free, plus if you utilize the $7500 tax credit you will probably get money back at the end of year. So if you are paying rent right now, say $900, you could save that by purchasing a duplex. That is an extra $10,800 in cash a year. Now that could really help you out. If you are a first time home buyer in Minneapolis give me a call I would love to help you out. Thanks a lot.