The Federal Tax Credits Blog

Archive for August, 2008

Question: ? regarding spouse qualifing for tax credit for 1st time home buyers?

If current married couple lives in house in husbands name, could wife buy house under her name only and qualify for first time home owner tax credit?

Answer: I’m not an expert but I do not believe you can sell to an immediate family member and qualify. Sorry.

Home loans for NRIs

Indians living abroad are equally eligible for housing loans from banks here but with some riders.

Homebuyer Tax Credit Explained- Washington DC Metro Area Real Estate & Housing News

Question: $6500 homebuyer tax credit?

I wanted to find out if I qualify for the $6500 homebuyer credit. I have lived in my residence for 7 years and want to buy a second vacation home. Do I qualify for the credit? If not, are there any ways around it that I can still qualify?

Answer: No, you don’t qualify since you will not be occupying the new place as your principal residence.

The ONLY way to qualify for the credit is to move into the new place as your principal residence for at least 3 full years from the closing date of the purchase.

You do NOT have to sell your old home, but you must move into the new one.

I often send PDF files to my friends to share, as the PDF format is the best for file transmission. No matter what kinds of operate system they are using, they can see exactly the same PDF as long as they have a PDF reader. However, here is the problem, most of them are not technology guru, and many of them opened PDF using Microsoft word. Some of them got all content messed up and even needed to reboot the computer. I got ponds of complains. Thus, my friends asked me to write an article to explain how to open PDF and how to open PDF in Word. Then I will discuss them separately.

1 How to Open PDF
If you want to open PDF you may need a PDF reader. All the PDF readers on the market are FREE. The original PDF reader is Adobe reader. However you may try others, like Foxit reader, Sumatra PDF and PDF-Xchange Viewer. They are all light-weight and take less CPUs. I am using PDF-Xchange Viewer now. It allows me to add comments and annotations to any PDF file.

My friends also asked for online PDF, as they prefer viewing the PDF on the fly without installing any program. PDFMeNot is a free online PDF viewer. You can view PDF by either uploading a PDF file or entering the URL of a PDF file.

2 How to Open PDF in Word
Some of my friends still want to open PDF in word. One reason is that they want to extract content from PDF file, the other reason is that it is much easier to edit in word as everyone knows how to edit in word.

Here is one way to open PDF in Word directly, using AnyBizSoft PDF to Word Converter. It offers the easiest way to convert PDF to word. You even don’t bother to launch the program.

Just right-click the PDF file you want to open, and click Convert with AnyBizSoft PDF to Word on the short cut menu. The PDF file is converted and a message box appears with a process bar indicating the processing. After the conversion, the output word document will open in front of you. The original text content, page layouts, images and text hyperlinks are preserved accurately. Unlike some of PDF to word converters on the market, you don’t need to fight with weird text boxes and edit it manually all over again.

However AnyBizSoft PDF to Word Converter can do more than this. It has other features such as Batch Conversion, Partial Conversion and Remove Restriction to help you improve efficiency.

Next time, you want to open PDF in word directly. You may choose AnyBizSoft PDF to word Converter. It offers a free trial to convert 3 pages for free without time limitation.

I. Why States Should Continue to Play a Major Role in the National Climate Change Effort

State actions relating to climate change are growing in sophistication and importance.

A good real estate purchase contract usually contains numerous details and information concerning the property so it must be treated very seriously. A good real estate contract usually holds huge amounts of information and in some jurisdiction it must be in written form to be enforceable. The contract can identify the full names of the parties; hold the address and legal description of property; identify the purchase price; it must be voluntarily signed by both parties; have a legal purpose; involve only competent parties (age, medical conditions, etc.); show that both sides agree upon the purchase What is most important is that the rules for buying a home vary from province to province. The first thing that you need to find if you consider buying a home is – an experienced real estate lawyer working in the province where you plan to buy a house. We will also provide you with some general info about real estate purchase in various provinces.

British Columbia

British Columbia has an odd tradition of inviting the lawyer only at the final stage of the contract signing. Basically the lawyer signs the contract and only after that reviews it. Needless to say that it is better to avoid this tradition and consult a lawyer right from the beginning.

Ontario

Ontario is one of the best places to buy or sell a home. The province has one of the most advanced land registration systems in the world; Ontario has the title insurance; the province also has competent, well regulated professionals; the costs of buying, selling and owning real estate in Ontario are very reasonable; finally the province has a protection plan for new home buyers and mortgage insurance programs.

Quebec

Due to the civil law traditions the rules for real estate in Quebec can be very different in details of the contract. So in this province it is even more important to find an experienced local real estate lawyer who is familiar with Quebec real estate mortgages, amortization terms, repayment frequencies and prepayment options, along with their respective merits and demerits.

Alberta

In Alberta the contracts have flexible terms and conditions, while the whole process is considered to be very complicated. Also if you are purchasing property through an agent most probably you will be offered one of the standardized contracts used in the province.

Saskatchewan

In Saskatchewan the brokers use the local standard forms for the reel estate purchase contracts. Also the Law Society of Saskatchewan is active in establishing standardized conditions and terms for purchases done with the help of real estate lawyers.

Nova Scotia

The real estate purchase contracts in Nova Scotia must be in written form. The whole process is regulated by the Nova Scotia Real Estate Association, which has a number of various standard forms of agreements used for the purchase transactions. In Nova Scotia apart from a lawyers review of your contract you may also add a “lawyer review clause” to the contract to protect your interests.

Reportlinker Adds Global Asset Management Industry

Reportlinker.com announces that a new market research report is available in its catalogue:

Question: How Strict Republican Cut Tax Sloganeer Arnold Schwarzenegger Had Destroyed The California Credit Worthiness?

California bond rating drops lower than any other state’s
Standard and Poor’s cites the budget impasse and near-empty treasury. Meanwhile, interest groups show growing resistance to possible compromises by legislators on labor issues and taxes.
By Jordan Rau and Patrick McGreevy
February 4, 2009
Reporting from Sacramento — California’s bond rating was downgraded below that of every other state Tuesday by a major Wall Street rating agency, as lawmakers trying to resolve the state’s financial problems faced growing resistance from powerful interest groups.

Citing the state’s prolonged budget impasse and its nearly empty treasury, Standard & Poor’s lowered its rating on $46 billion in general obligation bonds, which investors usually consider one of the safest investments because they are backed by taxpayers.

Answer: Yes Arnold Schwarzenegger is the one who destroyed the California credit worthiness. He rolled back all the taxes of his predecessor Gray Davis including raising auto registration fees. He claimed he can balance the budget by following the Republican mantra. Cut Taxes balance the Budget. It is phony theory that never worked.

Illinois Leads $9.8 Billion Muni Sales Planned for Early 2010

Illinois will lead states and municipalities bringing to market at least $9.8 billion of fixed-rate bonds in the opening weeks of 2010, after a lull in sales to close out this year, data compiled by Bloomberg show.

California Runs Out of Money Issues IOU’s Issued 2009