Jennifer Mallam - Atlanta Falcons
Real Estate Tips from Alumni Cheerleaders Member – Jennifer Mallam
If you have heard of the 2009 First-Time Home Buyer Tax Credit I am sure you, like many others, are wondering just what is this tax credit & does it apply to you? If you haven’t heard of this incredible opportunity, please, allow me to explain!
First, let me clarify what “first-time home buyer” means here. First-time home buyer refers to someone who has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase. Now that we cleared that up, here are the high points:
- The purchase must occur between January 1, 2009 and December 1, 2009.
- The $8,000 is in the form of a tax credit and does not have to be repaid. (Repayment may apply if you sell the home within 3 years of the claimed purchase.)
- The credit applies only to the buyer’s principal residence and it must be located in the U.S.
- The full $8,000 credit applies to home purchases of $80,000 or more. If the home you purchase is less than $80,000, you can receive a credit of 10% of the purchase price. For example, if your home purchase is $70,000 you will receive a $7,000 credit.
- Income restrictions apply. Individuals filing single are elegible for credit if their income is no more than $75,000. Married couples filing jointly may have income no more than $150,000. (There are some exceptions.)
- If the buyer’s income tax liability is less than the $8,000, they will receive the difference back as a refundable credit! What does that mean? For example, if the buyer only owes $6,000 the IRS will send a check for the $2,000 as a refund!
As if all of this was not good enough, there’s more! If you have not filed your return for 2008 yet and you did make a qualifiable purchase in 2009, you can claim the $8,000 credit on your 2008 return! Here’s the way this works:
- If the purchase was made between January 1, 2009 and April 15, 2009, the $8,000 credit can be claimed on the 2008 return due April 15.
- You can file an extension for 2008 as late as October 15, 2009.
- If you have already filed your 2008 return before the 2009 purchase, you can make an amendment.
For additional information, please, feel free to contact me directly. www.JenniferMallam.com
Remember, always consult a tax professional.
Resources: National Association of Realtors, www.realtor.org
About Jennifer
Jennifer is originally from Nashville, TN, although she has had the pleasure of calling 6 different states “home” over the years. TN is where she graduated from high school, attended college, and began her professional cheerleading career with the Tennessee Titans. Her family and several close friends remain in TN making it very close to her heart.
Jennifer relocated to Atlanta, GA, in 2002 where she continued her NFL cheerleading career with the Atlanta Falcons and began her Real Estate career as a Residential Appraiser. Her experience in appraising gives her an edge on pricing properties and understanding market changes while her work as an NFL Cheerleader provides her invaluable experience in public relations as well as opened the door for what would be her next journey, Real Estate Sales. Jennifer, while cheering with the Falcons, was invited on the set of the popular T.V. show “Extreme Makeover/Home Edition” where she met the CEO of Beazer Homes and was asked to come and work for them as a New Home Counselor. She took the opportunity and there found her true passion in helping people buy and sell homes.
Jennifer kicked off her Real Estate Sales career in 2005 as the Top Producer for the Beazer Homes Atlanta Division in her very first three months of selling and has not slowed down since consistently ranked amongst TOP Producers.
Jennifer’s philosophy is to give exceptional service to each customer through honesty and open communication. Her vibrant personality, organization, and attention for details make working with Jennifer a pleasure. Whether you are looking to buy or sell, call Jennifer today and come “Experience the Difference”!
In search of the best family oriented place to raise their daughter, Jennifer and her husband came to Williamsburg in 2008. Impressed with the beautiful city, its excellent school systems, and quiet suburban lifestyle, they decided to call Williamsburg home.
Alumni Cheerleaders 