The Federal Tax Credits Blog

Archive for May, 2010

Question: are brand new homes with insulated garage doors eligible for the garage door tax credit?

Wasn’t sure if it was just for homeowners who bought a new garage door or homebuyers who bought a brand new home with an insulated garage door installed

Answer: The tax credits are for energy saving home improvements not for new homes.

Grant Helps Energy Efficiency While Also Saving Money

The summer heat is rising and taking it’s tole, not only on people but also on their pocketbooks.

Immaculate Hobble Creek Single-Level!

Question: Trivia. What political party’s platform is this?

Ten points for the first correct answer! I want to see if anyone out there remembers their history.

1) Abolish right to property

2) Progressive income tax

3) End inheritance

4) Confiscation of property of tax evaders and criminals

5) Creation of national banks and centralize credit markets

6) Public funding and control of communications and public transportation

7) Government subsidies of agriculture and technology

Establishment of unions for labor, especially agriculture

9) Abolish distinction between towns and country.

10) Free public education and end to child labor

Answer: that would be our Democratic Party of today or

the Communist party of yesterday

NY State Budget Now 4 Weeks Late

BUFFALO, NY – New York State lawmakers have wrapped up another three day work week in the state capitol without passing a state budget, which is now four weeks overdue.

The Case for Brian Moran

Leesburg Candidates: On The Issues

Leesburg voters will go to the polls May 4 elect a mayor and fill three seat on the Town Council. Incumbent Mayor Kristen Umstattd is being challenged by Councilman Tom Dunn. Five residents are running for the three council seats.

Question: Good, reliable wind generator?

I am wanting to place a wind generator on an existing tower that has a broken down wind generator on it. I need sometihng atleast 10 Kw but something bigger would be good. The tower is approximately 80 feet tall. The quality and reliability of the company is most important. Also if you know anything about federal or state refunds, rebates, or tax credits i would apprecite that information.

Answer: The Bergey mentioned by engineer… is a good one, also check out the Jacobs 31-20 it is a 20 kw system
the web site is www.windturbine.net
another site to see the Bergey system is www.bergey.com
the Jacobs does require annual oil changes and greasing and the generator is quite heavy so you will need a strong tower to support it.
If you go to www.dsireusa.org you can find incentives for your state.
The feds offer very little in rebates/incentives for individuals. I called my congressmans office and his staff did some looking in to it, they didn’t find much last year but things change from year to year so it may pay to do some checking.

FPL Group Announces First Quarter Earnings for 2010

JUNO BEACH, Fla.—-FPL Group, Inc. today reported 2010 first quarter net income on a GAAP basis of $556 million, or $1.36 per share, compared with $364 million, or $0.90 per share, in the first quarter of 2009.

Buy Wind Turbines

Question: Ron Pauls 100% Medical Cost Tax Deduction?

Ron Paul wants to give you a tax credit for 100% of any of your medical costs. Is that the way to go for not only cutting taxes but saving americans money and allowing them to get more affordable healthcare?
.Provides all Americans with a tax credit for 100% of health care expenses. The tax credit is fully refundable against both income and payroll taxes.
.Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA).
.Makes every American eligible for a Health Savings Account (HSA), removes the requirement that individuals must obtain a high-deductible insurance policy to open an HSA; allows individuals to use their HSA to make premiums payments for high-deductible policy; and allows senior citizens to use their HSA to purchase Medigap policies.
.Repeals the 7.5% threshold for the deduction of medical expenses, thus making all medical expenses tax deductible.

http://www.lewrockwell.com/paul/paul407.html

Answer: If you want a perscription for skyrocketing medical bills, this is it.

The Hartford Reports First Quarter 2010 Net Income Of $319 Million

HARTFORD, Conn.—-The Hartford Financial Services Group, Inc. : Core earnings* of $545 million Core earnings per diluted share* of $0.14 includes after-tax charges for CPP repurchase, litigation accrual and new federal healthcare legislation totaling $1.18 per diluted share Book value per common share increased 61% over prior year period to $38.94 With successful capital raise and CPP …

McCain’s Health Care Plan: Worthless