Man, I wish I could get a place of my own instead of renting. I keep saying "maybe someday" but just can't see how it could work. I need to speak with someone who knows about home financing and such to see if with my income and such, it would be possible. I want to find a place that needs some work so I can make it how I want it... Anyway, back to taxes.

 

Hey man I bought my first house with a friend of mine and put down 7K each. We bought the house for $175,000 in Concord, CA. We lived together for 4 years splitting the interest and all payments. He then bought me out after 4 1/2 years and I walked away with 90K. Its all about just taking the chance man. I was skeptical of it but hey its better than renting right!!!

So that brings me to my point..........Since I was the secondary buyer on the property I was in the position as a first time home buyer in the eyes of the banks. I started talking to some of the home loan guys at Bank of America and they mentioned something about a program called ACORN first time home buyers program. This program is amazing!!!! I attended a 2 hour class and because I attended the class I got a rate of 5.23%. And the best part is I have a 40 year fixed loan with 10 years interest only. So I bought my house in Concord for $531,000 and put some money down on points. I mean yeah i put a lot of money down but there are programs out there that will suit your needs. Just got to shop around just like anything else. After all said and done I am paying $2300 a month for mortgage. Some people are paying more than that to rent!!!!! Its an investment thats well worth it.

Long story short, you just have to sacrifice and take the chance and do it. Search around for first time home buyer programs and you wanting a fixer upper you should be able to find a good price on a home. Good luck man!!!!

 

^^^ I am in a similar situation. We will be doing the ACORN program too for our next house this year. We have to sell our current place first. My godmother, who is a real estate agent, is whiz at this stuff. But you should look up the ACORN program and see if it suits you Jacob.

 

oh ya im currently "married" and my "ex" is unwilling to cooperate in givinig me her tax info if that tells anyone anything.

 

pmd you

 

yeah, she's the one who did my taxes, ****en bomb dood, seriously!!!

 

FWIW, for the past two years, I've redone (using Turbotax) my sister's taxes after she had gone to H&R Block one year and a recommended CPA the next. One year, Turbo Tax gave me the same value as H&R, the following year Turbo Tax got back a higher return than the CPA. Turbotax doesn't suck, it HAS to use the same tax tables and formulas the stores and CPA's use....all from the IRS. If you're simply doing standard deductions, stick with Turbo Tax. If you're doing itemized deductions...then MAYBE you should think about using a service.

Personally, I think Turbo Tax does a great job of finding all the deductions for you.

 

ytou have her contact info?

 

As someone who worked briefly for H&R Block, I would NOT recommend them at all UNLESS you get a personal referral to a particular person. As you've already done your taxes using Turbo Tax, what I would suggest is checking out the VITA program at your local Library. This is a FREE SERVICE provided by the IRS! It is staffed by volunteer tax professionals. - often retired folks - and they do a refresher course each year with the IRS.

Good luck!

It's my first year as a small business owner and I'm discovering the joys of valuing inventory, gifts, donations and the accrual method of accounting! Completing the Schedule C for a service business was easy compared to this! Back to the tax office tomorrow to get more IRS Publications.

 

You're only paying 1k, what's the big deal? (except that you make so little that you only pay 1k in taxes).

 

Here is a tip: It's not just about who gets you the most money back. If your tax person does shady deductions to hit your target, you'll receive a nasty surprise in the mail from the IRS, and it's not a tax refund.

 

hehe, nah, I've seen some shady *** tax people, my tax person rarely gets audited if ever. I've used her the past two years in a row, always finds the right deductions, credits, etc., never had a problem, or anyone else that I know that uses her for that matter...

 

+1

his mom has done our taxes for 5 years now and she has always helped us a lot.

didnt i told you about her before bo??

 

ohhh, so this is bo....

she does Erik and Krissy's taxes too

+1 for Joel's mom, she loves getting used...

 

pm replied!