How can I take advantage of the First Time Home Buyer Savings Account Program?
The State of Michigan is offering a tax deduction on dividend earnings for savings accounts of first time home buyers when funds are used for a first time home purchase. Members can save and use these funds toward a down payment of up to $50,000 through 2026. This program potentially allows first time home buyers to not have to pay income tax on the account earnings if they their tax return is filed with supporting documentation.
For more information about this program, click here.
