The Federal Tax Credits Blog

Archive for September, 2008

There are too many benefits when you do property condition assessment on your site. So if you’re still not convinced of conducting one into your site property? Then this is the time I would definitely say that you will be convinced because I’m going to tell you the benefits of a site assessment. A variety of actions can cause an Environmental Site Assessment (ESA) to be performed, the most common being factors are:

1. Purchase of real property by a person or entity not previously on title or in a land or location where in it is the first time that it is going to be use.

- if you are the buyer of a land property that is not previously use, used to be a part of a secluded area or a mountain or valley, then it is important for you to take a Phase 1 ESA.
Mainly because you need to be assure that the area can handle your future business well and you’ll have a great working environment. Is it an earthquake zone or a wetland place? If yes, then you wouldn’t want to be there. Also, for new properties to pass ESA there shouldn’t be an endangered species on the secluded area that they had bought.

2. An important factor for a new lender’s decision making on providing or approving a loan on the subject real estate.

- Most banks and lenders will not approve loans on the subject real estate without its Phase 1 ESA report from a trusted environmental engineering service And this is very understandable. For as a lender, they should also have the assurance that you can pay your loan by successfully working out your business in your property. And how can they possibly think that you can work your business out if they are not sure that the site it is built within is safe?

3. Partnership buyout or principal redistribution of ownership.

- For taking away properties and transferring it to another person a Phase 1 ESA is also important as to assured them. Phase 1 ESA is one of the most important document on transferring properties to partners or to a group.

4. An application to a public agency for sudden shift of use of the land.

- If you are the property owner and want to shift your business from a Paper producer plant to a real estate subdivision business, you definitely should need a Phase 1 ESA first before you can do this. Site inspections, scrutiny of lands and chemical/material sampling done by an industrial hygiene consultant are needed before you even go a step forward on your new business.

5. For clarifying suspicion of a regulatory or public agency on accusing the site of having toxic waste and hazardous materials.

- If there’s any complain on the subject property, then it is compulsory to have a Phase 1 ESA, especially if a report comes from a regulatory or public agency. If Phase 1 ESA will not be conducted on a suspicious property then property owner could face legal matters.

6. Property owner’s desire to understand toxic history of the property and to be assured that the property is safe.

- If this is the reason why you would like to conduct a Phase 1 ESA, then you are one of the great people in the business world. You value environmental due diligence the most. As a property owner it is your responsibility to assure yourself, more than anyone else that your property is safe and you understand its chemical or land history.

A Phase 1 inspection is an integral part to many commercial and industrial real estate transactions. Have your property and site consulted now! Click the website below and be assured that a professional geologist will conduct your Phase 1 ESA

‘Hometown Heroes’ earns award from State Historical Society

The Illinois State Historical Society (ISHS) presented its 2010 Annual Awards recently at a luncheon held at the Illinois Executive Mansion in Springfield.

Question: tax credit question? U.K. only please?

Hi, last year my husband earned approx £18500 whilst I stayed at home with the children and took care of them. We were paid approx £3500 in tax credits over the year. This year we filled out the review pack and stated that I am now working (self employed) and our joint income would be £30000 approx. They said our award for this year would be the same as the amount hadn’t gone up or down by more than 25k. The situation has now changed and I am on my own earning £12000 roughly and I have checked the tax credit calculator online and it seems that although we have lost my husbands £18,500 the tax credits dont change? It will be a struggle on my wages and tax credits but I want to work so any ideas? Really cannot afford to get this wrong!
Cheers,
Donna.
should have said my income is £12000 before deductions.

Answer: Wish I could help you…but I think you might have better luck asking this in the tax category…good luck!

In & Around Town

SATURDAY, Oct. 4 The second ‘Shop ‘n’ Rock’ will be hosted from 1 to 6 p.m. at the Budd Lake Firehouse, Route 46. The event is sponsored by the Mount Olive Kiwanis and Mount Olive Fraternal Order of Police Lodge 122. The family event will include food, activities, music, a kid’s play zone and vendors. Vendors and sponsors are sought and should visit www.mtolivekiwanis.org[[[SHIFTIN …

Did you know that you can drastically reduce how much you pay in taxes by as much as $3,000 to $6,000 per year just by running a home business such as Savings Highway, whether or not you are actually making a profit from that business? Are your taxes killing you financially? Yes, you can STOP the BLEEDING!

I get it, I get it, half of North Americans are busted broke, and the other half are too freaked out to spend the money that they do have, so how on earth do we get a bunch of new small businesses going?

The solution to tax savings.

Let “Uncle Sam” pay for the start-up costs and the ongoing operating costs. Here’s how it works…YOU agree to start, and to run, a part time home based business like Savings Highway, to run it with a intent to profit, while keeping adequate business records. Uncle Sam says, “If you do that, I’ll cut your taxes by $3,000 to $6,000 or more every year, starting today, and then, I’ll let you collect part of your additional Tax Refund every couple of weeks, all year long – NOT waiting for April 15.

How do these tax savings work?

As soon as you add up all of your tax savings, you can visit your payroll office to fill out a short form called a W-4 that will begin to put an extra $300-$600 per month in your take home pay – beginning with your very next paycheck!!! That means you get part of your additional tax refund in every paycheck, all year long! It’s like putting $100 extra cash in your pocket every week — week after week after week! That’s just from tax savings not even counting the money you’ll be making through a business like Savings Highway!

How to qualify for tax savings?

Congress said, “work your business at least 3 to 4 hours a week, be able to show you’re trying to make a profit, and keep adequate business records” Simple as that.

OK be honest, can you really afford to wait? The cost of not having a home based business be it Savings Highway or not, and by not understanding the tax savings that come along with it, is MAMMOTH!

Rudd’s return to the dark years

“Rudd blamed for Asian virus” rekindled a sense of shame I had hoped not to feel again.

Question: can someone give me good advice,mortgage,seperation,single person tax credit?

a couple who recently split but both are staying at the house they are buying,none of then can afford to move out.one partner if staying in the house could just about scrimp the mortgage and all the bills as she comes home with about 15 thousand a month, the other partner comes home with a bout 950. to a thousand pound a month.and will have hardly anything left.is there some kind of single person tax credit that he could claim,they are definately not a couple anymore ,,,any advice please emma xx i am in the united kingdom

Answer: If English tax is anything like American…..he who pays the mortgage gets the benefit of deducting the interest off their taxes..

That said… if you do not officially apply for divorce, you both could contribute, and both benefit

Many people do this… even though the marraige is in essence over.. they stay together until on CAN afford to move on…

Bridgeline Reports Record Sales, Record Profits, and Record Cash Generation From Operations for Fiscal Year 2009

WOBURN, Mass. — Bridgeline Software, Inc. , a developer of SaaS-based web application management software and award-winning interactive technology solutions, today announced financial results for its 2009 fiscal year ended September 30, 2009.

Califronia Tax Revolt 2009 March