Buy a primary residence before December 2, 2009

Buy a primary residence before December 2, 2009 in order to receive a refundable tax credit of 10 percent of the purchase price or $8,000, whichever is lower. Restricted to buyers who haven't owned principal residences for three years prior to making the purchase. The full credit is restricted to taxpayers with adjusted gross income of $150,000 (Married Filing Jointly) or $75,000 (others). A refundable credit creates a refund to you, even if you paid no tax or had no withholding.

The time is now to strategically plan to stop wasting money on taxes you are not required to pay and stop overpaying your taxes by taking advantage of every potential tax incentive. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!