The Federal Tax Credits Blog

Archive for April, 2009

Question: Who is eligible for the 8000 dollar tax credit?

A co worker told me that only houses that is $100,000 and up are qualified for the tax rebate. Is it true or just a load of bull?
Thanks for all the answers. And I did not ask any tax advice from my co worker. He just brought that up to my attention. So I ask here to confirm.

Answer: totally untrue.

Since the credit is 10% of the purchase price, with a maximum credit of $8000, if you purchase a house for less than $80,000, your tax credit will be less than $8000. For a $60K house, the credit would be $6000.

End To Death Tax One Of New Oklahoma Laws

More than a dozen new Oklahoma laws are on the books for the New Year. Nine of the 13 new laws deal with changes to the tax code.

Burzichelli & Milam on Converting the Property Tax Rebate into a Direct Tax Credit (A-3308)

Lower Your Taxes Big Time is an easy as 1 2 3. The first step is to identify that you are paying TOO much in taxes and explore how one can lower their taxes. I have just found an amazing book that I just had to share with you. The new edition 2009 2010 is simply amazing. The name of the book is Lower Your Taxes- Big Time and no it isn’t just another “Tax Book”. The book is written by Sanford (Sandy) Botkin a former IRS attorney. Why not get tips from an IRS insider. He actually spent time training IRS tax attorneys in ways to get you and making you pay! He was one of the founding members of the IRS’ elite “Tax Shelter Group”. Finally he realized that the IRS’ intimidation tactics and other tactics and changed sides. I am definitely thankful that he changed sided. And you will be glad he did. Now you can have this great legal mind on your side to keep you out of trouble and without the legal limits of the IRS. The first chapter of Lower Your Taxes- Big Time is titled “Why You would be Brain Dead Not to Start a Home-Based Business (if you don’t already have one). Personally, I have had several businesses for years and thought I knew what I was doing, but I was amazed at the deductions that I was missing! This book literally tripled the amount of deductions I was legally able to claim for last year! Now is the perfect time to begin racking up and taking advantage of the deductions for next year! It is even possible that after reading this book you might want to file an amended return and get back a few thousand extra dollars from last year! Whatever way you decide to go, I strongly recommend that you get this book Lower Your Taxes-Big Time! You can order it from Amazon or simply.Lower Your Taxes – Big Time! The time to begin your Tax Planning is now while you have time to make the changes necessary and take advantage of the wealth of knowledge in this book. If you wait until the last minute you will end up with questionable or illegal deductions. However if you begin planning now, you can do things legally and create a “bulletproof” tax reduction strategy!

Year-end tax tips

There are only a few days left until 2010, but there are still a few things you can do to save money in 2009.

Tax Tips: Filing Season 2010 – January 2010 (ASL, Captions & Voice Over)

Question: can anyone tell me about the special pension-related protection attached to receiving child tax credit?

Am I right in thinking that ifyou receive child tax credit / Child Benefit into your account, you will automatically accrue National Insurance contributions that will contribute to your State Pension entitlement? Any advice gratefully received!

Answer: you are not right, this is not correct.
it applies to job seekers incapacity sickness and other means tested benefits bit it does not apply to child tax credits
or child benefit

Local hospitals enjoy friendly competition for first New Year’s baby

It’s one of the fiercest and most contentious races in Broome County–the first baby of 2010. Actually, just a friendly competition between Lourdes and Wilson. But as our Neil St. Clair tells us, both parents and nurses will be watching as the clock approaches midnight.

Confused over the tax credit deadline? GMTV has the answers

Question: Would you like to be in charge of your share of $300 billion annual tax subsidy for health care?

Democrats are uniting around proposals to vastly expand federal regulation of health insurance, require everyone to have coverage, and compel employers to provide federally prescribed insurance or pay a new tax.

GOP introduced its own plan, that provides a path to universal coverage by redirecting current subsidies for health insurance to individuals. It also provides a new safety net that guarantees access to insurance for those with pre-existing conditions.

The nexus of their plan is redirecting the $300 billion annual tax subsidy for employment-based health insurance to individuals in the form of refundable, advanceable tax credits. Families would get $5,700 a year and individuals $2,300 to buy insurance and invest in Health Savings Accounts……

http://online.wsj.com/article/SB124277551107536875.html

Answer: I wish the dems would slow down, they arent spending their own money thats for sure, and congress gets pretty good insurance. I bet they wouldn’t have to wait in line like the rest of us under their plan.

Bad year for biofuel ends on a dour note

Down year for biofuels ends badly; tax credit for biodiesel producers expires

Get COBRA Funds, They May Be Available !