The Federal Tax Credits Blog

Archive for August, 2010

Question: Any news or proposed legislation to extend the $8000 tax credit beyond December 1st 2009?

Answer: As of now, no.

That could change but, with the economy picking up, I don’t see it happening.

Gillibrand, Hall push for vets’ business tax cut to be made permanent

NEW WINDSOR – A law that allows businesses to receive a 40 percent tax credit on the first $6,000 paid to any veteran they hire who has just returned from Iraq or Afghanistan is due to expire at the end of the year.

J.K. Lasser’s Small Business Taxes 2012: Your Complete Guide to a Better Bottom Line $11.94 The tax facts and strategies that every small business owner needs to knowOwning a small business is a big responsibility. While all small business owners seek to improve their bottom line, few realize all the ways that both current and new tax laws can help them do so. With J.K. Lasser?s Small Business Taxes 2012, you?ll quickly discover how. Written in a straightforward and accessible style, thi…

Lower Your Taxes – Big Time 2011-2012 4/E $11.61 Completely revised and updated—the must-have resource for saving thousands of dollars at tax time Taxes aren’t just a nuisance; they’re fast becoming the single biggest expense for the typical American household. Completely revised and expanded, Lower Your Taxes—Big Time! has everything taxpayers need to know about saving money on April 15—and every other day of the year. Sa…

J.K. Lasser’s Your Income Tax Professional Edition 2012 $50.90 America’s number one tax guide for professionalsJ.K. Lasser’s Your Income Tax, Professional Edition 2012 is an essential guide for tax professionals. Filled with easy-to-use tax planning tips and strategies, this comprehensive guide arms you with the information needed to maximize your clients’ tax savings.Completely updated with all the latest tax law changes, this guide makes preparing 2011 tax …

Engler expresses doubt about tax credit legislation

Question: If I’m planning to buy a car next week and my credit report lists a tax lien that isn’t mine, should I wait?

It’s my father’s. We share the same name. The IRS verified that it does not belong to me and said they would remove the lien. My question is, should I wait until they remove the lien ($22,500)? It’s from 2002. Will it drastically affect my credit score and chance to finance a car? Right now my credit score is 565. How long will it take before my credit score improves and by how much?

Thank you in advance.

Answer: Unless you’re paying with cash and no payments, yes you should wait. A negative aspect on your credit report reduce your score which in turn will raise your interest rate. Call the credit bureau and have it removed, unfortunately it may take some time to clear.

Some Summertime Projects Pay Off in Spring Tax Green

KANSAS CITY, MO–(Marketwire – 08/31/10) – Time is running out to complete summertime projects eligible for one of the home energy efficiency tax credits . Open the door to energy-saving upgrades The nonbusiness energy property credit expires Dec. 31 and is for 30 percent ($1,500 total maximum for 2009 and 2010) of the cost of certain energy-saving upgrades. This includes external windows and …

Community Tax Center 2008 IRS stimulus Package Day 03.28.200

Question: can the child support agency treat my tax credits that i get for child care as an extra income?

the money i get for child care to let me and my fiance go to work is being treated as an extra income by the csa and not that it is used to pay our registered child minder. its as if one government agency are giving us the money to pay for child care but another is trying to take it off us. can anyone advise me please. thanks

Answer: all extra benefit is treated as extra income, your child benefit is taken from you so you dont get any extra. only DLA is not counted.

TaxWatch: The tax credit that punishes

The Making Work Pay tax credit is causing some nasty surprises for some taxpayers who ended up with a withholding shortfall due to the credit.

How to File for Chapter 7 Bankruptcy $8.47 In these times of massive credit card debt and stagnating incomes, filing for bankruptcy has become the only relief for thousands of people. The information in How to File for Bankruptcy is so complete that a person can file virtually on his own, without needing to hire a lawyer. By no means does the book encourage filing for bankruptcy, but it will help anyone in serious financial trouble d…

The Student Loan Scam: The Most Oppressive Debt in U.S. History – and How We Can Fight Back $22.95 Alan Collinge never imagined he would become a student loan justice activist. He planned to land a solid job after college, repay his student loan debt, and then simply forget the loans ever existed. Like millions of Americans, however, in spite of working hard, Collinge fell behind on payments and entered a labyrinthine student loan nightmare.High school graduates can no longer put themselves thr…

Tax Credits for Low Income Housing: Opportunities for Developers, Non-Profits, Agencies and Communities Under Expanded Tax Code Provisions: Twentieth Anniversary Edition $195.00 …

casa GURU TV – Understanding the 2009 Renovation Tax Credit

A Green Car for Every Driver

Which fuel-efficient vehicle is right for you? That depends on how and where you drive.

Nissan Leaf Electric Car Baltimore MD Washington DC MD

HST is good public policy and a good tax

Your Business columnist Tony Wilson says most lawyers and economists agree with his position

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