The Federal Tax Credits Blog

Archive for April, 2008

Question: Is the first home buyer credit being extended to 2010 and increasing to 15K?

As discussed here, http://www.savingtoinvest.com/2009/02/15000-first-home-buyer-tax-credit-in.html, there are 15 bills in Congress to extend the credit into 2010 and increase to 15K. Fact or Fiction?
Sorry link was not working. Here is the correct one : http://www.savingtoinvest.com/2009/02/15000-first-home-buyer-tax-credit-in.html

Answer: They wanted it to be $15,000 the first time and it was shot down. Unlikely that it would pass now, especially with everyone in a tizzy about all the government spending. I doubt many politicians would endorse this. No one wants to support big spending right now so that way if things with Obama don’t work out, they can say it was because of the over spending and that they didn’t support it when they attempt to make a run for the Presidency.

Home Prices in 20 U.S. Cities Rose for Fifth Month (Update1)

Dec. 29 (Bloomberg) — An index of home prices in 20 U.S. cities rose in October for a fifth consecutive month, putting the housing market and economy farther down the path to recovery.

Home buyer Tax Credit Extended!

Every buyer has a check list of considerations when purchasing a home. Quite often, the condition of the roof is right up on the top three must have’s.

The roof can be the first aspect of a home to meet the buyer’s eyes. Is it an inviting color? Is there signs of wear and tear, or in wet regions, moss patches? Or heaven forbid, the tell-all tarp indicating a leak?

Initial cost is just one part of the roofing financial puzzle, whether you are building new or renovating. It is also important to look at longevity of the materials, and making ensure your roof is right for the climate you live in. In addition, durability and low maintenance are also top of mind for most homeowners. Here are a few options to consider:

Metal roof tiles

Metal roof tiles offer a wealth of benefits to homeowners. Highly durable, these tiles protect against hail, wind and fire, and conserve energy by reflecting much of the sun’s heat back to the air.

Metal roof tiles are much lighter than asphalt roof tiles, by as much as half the weight, and can be purchased in galvanized steel – the least expensive; aluminum – used most often; and copper – very attractive but the most expensive.

Average life span: 25 years or longer

Asphalt shingles

By far the most economical, asphalt tiles can range in quality and durability. They are a better choice for cooler climates as they last longer. Easy to install, either by a professional installer or enthusiastic D.I.Y. people, the fiberglass-based version is chosen most often.

Traditional black asphalt shingles, or other roofing options, can be a recipe for heat exhaustion inside the house. Temperatures of up to 180 degrees F. can be realized on the roof on a sunny day.

Instead, install materials that have a high solar reflectance. The best choice of these are smooth and white, and can provide reflectance of up to 80%. Conversely, standard white shingles only reflect about 25% of the sun’s heat. Premium shingles are only slightly better at 35% reflection.

An additional reason to have light-colored roofs is they tend to last longer. With dark roofs, the constant heating and cooling of a roof causes it to expand and contract, causing wear and tear on the materials.

Average life span: 14 – 20 years, depending on the region

Clay roof tiles

Clay roof tiles have been used all over the world for centuries. Many ancient buildings still have their original tiles. In North America, we haven’t had to test that level of longevity however, most suppliers claim that a tile roof will last a minimum of 50 years or longer. With the modern addition of custom colors, these roofs are not only durable, they look great, too.

One California company offers clay tiles in 32 colors that reflect solar radiation and emits thermal radiation at a rate that exceeds the state’s recommendations. In addition to their solar reflectiveness, clay tile roofs can offer enhanced air circulation because ambient air can flow above and below the tiles. This flow helps the roof shed solar heat more rapidly.

Clay tiles are heavy, so support systems currently in the roof must be considered if a renovation is involved. Additional braces may have to be added to handle the increased weight.

Average life span: 50 years or longer

Bill Baker: The Wants and Fears of George Soros

George Soros has demonstrated to the world that he has one of the brightest financial minds of our era. He articulated a framework that he…

525 master 7-15-08_WMV V8.wmv

Question: what should i do? my lease says my landlord is responsible for the hot and cold water..with out my consent?

she added or connected the hot water heater to my electric meter so for the past 4and half years i’ve been paying for my own hot water in my electric bill..i also have electric heaters in small apartment wish i hardly turn on since bill is so high and it still be cold from windows not shuttin good..i asked her why does electric bill comes to 3 to 400 a month ..ahe makes excuses ..she lives underneath me samesize apartment and pays only 60 in energy bill..i asked her to credit me or pay me the money that i ve paid in hot water which is from 44 to 65 dollars extra a month on my bill..she doesnt agree wants me to either sighn a new lease or move..im holding her rent because my electric bill is over 1,000 and i cant afford it ..what should i do besides move in other to pay for this bill my only income is ssi 630 a month i most of the time living here have had to repeatedly choose between payin bill or rent be late on one one month and the other the next..please help!!

Answer: I’d move if you can’t afford it. But…

If you live in the same building, it’s quite possible she is wired into your circuit for at least part of her power. I know one outlet in my apartment in on someone else’s circuit. I only have a nightlight plugged into it, but I could certainly put my fridge and a/c on it if I wanted to.

Here’s what I’d do. Unplug every single thing in your apartment, including nightlights, fridge, hot water heater, answering machine, etc. etc. and go away for the weekend. When you come back Sunday afternoon see if the electric meter has moved at all. If it has, you know someone is tapping your power. Call the power company and ask for help in doing a usage survey.

The Clanton Advertiser

2009 has been a tough year for many taxpayers. There are several tax breaks and deductions that may be taken advantage of before year’s end, however. New car buyers may deduct taxes up to $49,500 for vehicles purchased after Feb. 16, 2009, and by Dec. 31, 2009.

Tankless Water Heater Installation & Incentives

Question: I am single with no dependents and a full time student will i receive an income tax credit in ontario canada?

I have not worked at all 2008, however I did collect Ontario Works for 4 months. I also paid rent will I receive an income tax credit.

Answer: Yes, the provincial sales tax credit and the property tax credit will generate refunds.

Tories defend sole-sourced $16B jet purchase

The Harper government is defending its $16-billion sole-sourced purchase for 65 state-of-the-art fighter jets from Lockheed Martin.

Purchasing a car is a big investment. Everyone wish to own a vehicle, but the low income and present financial condition might not allow them to do so. At such circumstances, car loan specialist UK proves to be an ideal solution through which one can avail enough funds to purchase a vehicle. With this loan, you can buy any type of new or used vehicle.

The persons who face difficulties due to their bad credit records like CCJs, IVA, defaulted payments, bankruptcy etc. can also apply for these loans. They just have to ensure the lenders for the timely repayments of the loan amount.

In addition to all these, the lenders also assist in conducting a market research for selecting the right model of car. They may also suggest the loan seekers regarding the reliability of the seller. They can choose the right seller easily. In this way, such assistance helps them to ensure that they are going for right investment.

These loans prove to be a boon for the bad credit borrowers who want to purchase their own vehicle. The amount that you can avail with this loan will depends as per the value of car which you want to purchase and your income and credit ratings. Usually, 90 to 100 percentage of the actual car value can be availed through this loan with repayment tenure of 3 to 7 years.

The best and hassle free way to apply for secured personal car loans is to apply through online method. You can find countless number of lenders who will offer you this type of loans. But do not forget to compare the loan quote before taking any decision. The online application method will enable you to get the amount transferred faster. To apply you just need to be a salaried employee with a bank account and above 18 years of age. Research for this loan is very important, as without research you cannot get the perfect benefits of this loan.

Despite the ongoing financial recession, buyers of used cars can still manage to get online loans from companies like up2drive and Auto Credit Finders. Check out online the companies that lend money for used cars and you will be surprised at the wide variety of loans that are available and the competitive interest rates. Loans for used cars are plentiful online and you should make an informed decision and choose the one that is right for your situation.

in the year 2010

There are many improbable events that will probably happen in the next 364 days. All we have to do to make them obvious now is to put on a special pair of goggles that will allow us to see them coming round the proverbial mountain. Here’s a roster of 10 things that we foresee happening…

Donate a Vehicle to Charity Tax Deduction 2009, 2010.mov