The Federal Tax Credits Blog

Archive for April, 2009

Question: Home for sale by owner question?

My father is currently living in a home that is “owned” by my sister’s soon to be ex-husband. My father has lived there for two years, paying the mortgage, taxes, insurance and has put about 20K worth of renovations into it. We are in Texas by the way. Now that my sister and her husband are about to go through a divorce, I was wondering what could be done to secure the house so he wont take it away. The verbal understanding was that when my father was credit worthy enough he would take out a mortgage at the current owed balance. Even though my brother in law says he wont mess with the house, his parents are very spiteful and may talk convince him other wise. Please help.

Answer: If your brother in law is on the deed it is his property, your father is only a renter. If he owned it before your sister married him she has no claim, she owns half if it is after.

If he bought this house after they were married the house has to be settled in the divorce.

Verbal agreements are not even admisable in court for real estate, so if your father is planning to try and steal the property he has to come up with a signed contract.

Building remained robust in Nickel City during 2009

New multi-unit residential, residential renovation, and commercial construction activity remained at high levels throughout 2009. The City of Greater Sudbury’s latest building permit statement summarizes the number and value of building permits issued to Decembe 1, 2009.[...]

casa GURU TV – Understanding the 2009 Renovation Tax Credit

Question: Does the “new home Buyers Tax Credit” apply to the purchase of a mobile home (trailer)?

Answer: I don’t see why it wouldn’t include mobile homes. Keep in mind that whatever you buy, the credit is for the lesser of $8000 or 10% of the value of your home.

New year brings a few regulations to Oklahoma

Measures intended to modernize state government technology, encourage the use of natural gas and continue the crackdown on tribal retailers selling cigarettes with the wrong state tax stamps are among laws going into effect today.House Bill 1170 creates the chief information officer position. The person is to direct technology purchases for state agencies. The concept generated controversy …

Strategies for First-time Homebuyers – FOX News Interviews Chip Cummings

Online car insurance calculator is devised by insurance companies to help people calculate the amount they may have to pay on a regular basis when they buy an insurance policy. The car insurance calculator service is offered by several insurance websites such as carinsurance.com.

You can use a car insurance calculator to:

Working of a Car Insurance Calculator

A car insurance calculator (ref: http://www.economywatch.com/insurance/auto/car-insurance-calculator.html ) uses personal information to calculate a rough estimate of what an insurance policy might cost to an individual. A calculator needs the following details to calculate the premium:

Place of residence: An individual living in a metro city is more prone to road accidents. Thus, s/he will be charged a higher premium than those who are living in a small town.

Age and Gender: Insurance companies believe that a person becomes more cautious in his driving as he ages. Thus, people aged above a certain limit may be offered discounts. Similarly, companies offer discounts to women drivers as they are perceived to be more cautious drivers than their male counterparts.

Driving record of an insurance seeker: An insurance company also determines the risk factor of an individual from his past driving history. Insurance companies charges higher premiums from individuals with a previous record of accidents and breaking traffic rules. In extreme cases, the companies can also refuse to accept the application of the insurance seeker.

Make and model of the car: These details help insurance companies determine the current market value of the car to be insured. The lower the market value of a car, the lower will be the premium charged.

A car insurance calculator may also prompt you to input miscellaneous information such as the frequency of the drive to calculate the premium.

10 smart money-saving tips for 2010

Check your spending at the door and use these money-saving tips for everyday life and retirement.

4EverGreen13 TV Show “Green Building Sciences” TRAILER

Question: Is there a tax credit for buying a car in 2009 or 2010?

If there is what kind if cars are included and where can i get more info? Thanks!

Answer: There is a credit for car bought in 2009 and it is available only on 2009 tax return.

Taxpayers who buy a new passenger vehicle in 2009 (after Feb. 16, 2009, and before Jan. 1, 2010) may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns. Thus the taxpayers can buy now get cash back later on their tax returns. The deduction is limited to the state and local sales and excise taxes paid on up to $49,500 of the purchase price of a qualified new car, light truck, motor home or motorcycle. The special deduction is available regardless of whether a taxpayer itemizes deductions on their return. Read http://taxipay.blogspot.com/2009/04/whats-new-for-2009.html

China’s Export Tax Rebates To Continue Into 2010,

China’s Ministry of Commerce has announced that it is to maintain export tax rebates into 2010, in the light of continuing trading challenges due to the recession.

Car Donation Tax Deduction for 2009, 2010.mov

Do you have a Maryland Auto Insurance policy that has been cancelled? Then, there are many questions that might be coming to your mind: like why this did happen to me? And how can I avoid this happening in the future? Here are some helpful tips on how to avoid getting your auto insurance cancelled by your insurance company and what you can do about it if this happens to you.

The most common reason for being cancelled by your auto insurance company is the failure to make payments of premiums before the due date. One thing to remember is that the due date is the last day of the billing cycle. Therefore always make sure to make the payment before 12 A.M of the due date.

Once the insurance policy is cancelled, a lapse in policy is generated. The consequence is your insurance company may not cover any claims that arise as a result of an accident that occurs during the lapse period. Therefore, pay your premium immediately when you receive a cancellation notice. DO NOT DRIVE YOUR VEHICLE DURING THE LAPSE PERIOD.

The Motor Vehicle Administration (MVA) receives notices of vehicles with lapsed policies. The MVA at some point will send you a notifice of the uninsured periods of your vehicle(s). They will request that you submit a Maryland Insurance Certification (FR-19) form to certify that your vehicle was covered during the lapse period and impose a penalty in the form a fine for the number of lapse days. In some instances they may even suspend your license until the fine is paid.

One of the benefits of having a knowledgeable auto insurance agent, is that they will call to remind you of the payment due date and help you to avoid being late on your payment. When looking for a new auto insurance agent, ask them what procedures they have in place to help you avoid being dropped by your auto insurance company? Then, listen. You will know who you need to be working with to protect yourself and your family.

New York Localities Lead Municipal Market With Bond Auctions

Dec. 29 (Bloomberg) — New York state municipalities will lead sales in the municipal bond market as they auction off $36 million of securities to the banks offering the lowest interest rates.

First Time Home Buyer Video Blog