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Implicit support for continuation of the first-time homebuyer credit?

August 2, 2010

Former Federal Reserve chairman Alan Greenspan said on a Sunday-morning television news program that if home prices go down, the U.S. economy could be in for a double-dip recession.

For heavens' sake, please don't let this be the first volley in the next homebuyer tax credit battle!

The first-time-buyer-plus tax credit has simply postponed the inevitable bottoming out of the housing industry. The credit is now set to end Sept. 30.

Let that happen and let the housing market find its own, more realistic footing.

Haven't we learned enough from this current tax break, as well as from earlier homeowner tax law changes that might have helped produce our latest housing bubble in the first place?

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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