The Federal Tax Credits Blog

Archive for August, 2008

Question: what do i do about my child tax credit?

hello, i ahve had a baby 4 months and and asked them to back dated my daughter payments they said they are working on it and send a referal out and everytime i call them they r not helpin me at all even when i wanna speak 2 a manger none of them are in the office this is really upsetting i have asked for the back payment 3 months ago.. what do i do? please help me

Answer: ring them again and again
stalk them untill you get an answer or your money

they would be happy to stalk you if you owed money

The State Budget Was One of the Top Stories of 2009

One of the ongoing stories of 2009, was the state’s budget crisis impact on all levels of local government.

What’s the child tax credit and How Do I Qualify?

Question: Obama tax plan will help low & middle-income workers while Hillary’s tax plan will add even more complications

Obama Tax Plan Targets Equality, Clinton Eyes Conduct
Obama’s proposal would shift the tax burden further toward the rich from low- and middle-income workers. Clinton proposes targeted tax breaks designed to change the way Americans use energy, save money and care for elders.
The two candidates’ plans — especially Clinton’s — would further complicate a tax system that experts say is already Byzantine. Obama would tweak and augment current laws, while Clinton would introduce even more rules by adding at least nine new credits with complex qualification requirements, phase-outs and sliding scales.

http://news.yahoo.com/s/bloomberg/20080313/pl_bloomberg/a3yqqsjgneee

Its far better than Hillary’s plan, because it will help the poor but Hillary’s plan will increase tax with complex requirements on all high ,low, and middle income workers

Answer: Right.

Briefly: Jan. 2

Read about what’s happening in and around Plymouth.

Grameen Shakti, Bangladesh, Micro-finance solar home systems

Comparing auto insurance quotes is very important for getting the best deal out there. It can also be confusing because the numbers can vary so widely between competing auto insurance providers, and even depending on when you are looking for car insurance.

To give you an idea of the volatility of auto insurance, just look at the average yearly rate for a car insurance quote for the one-year period of February 2008 to February 2009:

February 2008 — $1828.00
March 2008 — $1838.00
April 2008 — $1871.00
May 2008 — $1896.00
June 2008 — $1913.00
July 2008 — $1951.00
August 2008 — $1944.00
September 2008 — $1952.00
October 2008 — $1982.00
November 2008 — $1968.00
December 2008 — $1905.00
January 2009 — $1908.00
February 2009 — $1888.00

Just taking that one variable into consideration for auto insurance costs gives you an idea of how much your car insurance quote can vary.

Break the average yearly auto insurance rate quote differences down to only January 2009 compared to February 2009 and you will find different states vary even more:

So taking these two variables – the month you receive an auto insurance quote and the state for the insured car — into account you can see great differences in automobile insurance quotes. When you start to consider the many other variables that will affect your auto insurance quote such as lifestyle changes, your credit history and your driving record, it’s easy to see why taking the time to compare auto insurance quotes before making your car insurance purchase is very important.

When you are comparing auto insurance quotes take the time to look at options beyond the lowest price. Some of these options include better customer support, discounts for coverage that you are looking for or maybe even something as simple as feeling more comfortable with one car insurance provider over another.

Saving money is important to everyone and auto insurance is a place where you find significant savings by taking your time, checking into your options and comparing auto insurance quotes from a number of car insurance providers before making a purchase decision.

Deadline nears for new car tax deduction

RICHMOND, VA (WWBT) – Time is running out for new car buyers to cash-in on a rare tax incentive. This year, the government is allowing a tax write-off that could mean hundreds of dollars back in your pocket.

David Rosenberg: Global Economic Outlook, Nov. 2009

Question: Should we get a tax credit/deduction for adopting pets from shelters and for spaying or neutering our pets?

Millions of dollars are spent to kill unwanted animals. Millions of pets are being warehoused in shelters. We need to do something to encourage sterilization and shelter adoptions.
A draft law has been posted at this site:

http://www.instituteforanimalrightslaw.org/statute_spay-neuter_tax-deduction_printable.htm

Answer: No in my opinion

Tax deduction for family pet under consideration

In South Carolina, roughly 900,000 people own a family pet, and about 360,000 of those households have two to three pets.

2 things that ticked me off this morning

Question: Need ideas with debt and savings?

Just started working a month ago after college, currently make 550 weekly after taxes, will go down more in July once receive benefits. Have nearly 5000 in debt across 3 credit cards… 550 on 23%apr (ripped up) 1300 and 2800 on 15%apr cards. I used a Snowball calculator but am trying to distribute the money between all three equally cause I place my purchases on the two higher balances anyway before ripped up other card. My short term goals are to apply for an auto loan within 6 months and move into an apartment within 18 months. I would like to know if I need to be debt free to obtain approval or possibly have some remaining debt. My initial goal was to place each paycheck into removing the debt but then I would have no money left allocated for a down payment on auto loan as well as no money into an emergency fund for moving out. Is there a better method which may enable me to distribute my paychecks (debt, auto loan down payment, moving out)?

Answer: I would definately get rid of that debt before applying for a car loan. Having some debt wouldn’t stop you from getting a loan, but having CC payments in addition to a car payment and rent can be difficult for a young person just starting out. You don’t have too much debt, so take advantage of that and get rid of it and don’t build it up again. Keep just ONE card, for emergencies only, throw the others away. See if any of your cards would allow you to transfer debt from the other cards to them with a low interest rate, and make that transfer if you can. Interest is everything. I would also suggest you buy a very inexpensive car, as you simply don’t make enough to try to afford a large payment. You may be able to DO it, but you don’t want to work just to pay for a car. Don’t get any of the add ons, no rustproofing, no extended warranty. You’ll also want to put at least $1000 down payment on that. Get rid of the 23% first. You will probably also need 1st and last months rent as a security deposit. You are in a good position in that you can control your situation rather than your situation controlling you. You don’t just have to do this within six months, you can do it when you have your finances completely under control. So don’t let the 6 months concept force you into an uncomfortable financial situation. Almost all young people make the mistake of piling up credit card debt and if you can avoid that, using them only for emergencies and things you plan to and can pay off each month, you will have a HUGE leg up on you financial future. In about a year, get started on a ROTH IRA so you have money as a geezer. So I don’t think it’s so much an issue of distribution, it’s more a matter of doing this in a controlled, orderly way and not forcing an artificial 6 month window to dictate your decisions.

Simple Solutions

Before borrowing money, use this guide to work out which type of loan is right for you.

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