The Federal Tax Credits Blog

Archive for September, 2010

Recession not over till it’s over

The National Bureau of Economic Research says the worst recession since the 1930s that began in December 2007 ended in June 2009. Stock markets soared. But most Americans and Main Street businesses continue to suffer severely.

Tax Deduction For Homeowners

Loew’s Pitkin, Former Movie Palace in Brooklyn, Gets a New Life

The theater, which opened in 1929 and has been a church and a discount furniture store, will be transformed into a charter school and retail space.

Need more Tax Savings? Go for green products

Question: New home buyer tax credit questions?

My fiance has bought a house before, I have not. We are thinking about buying a new house. My fiance is the provider, he earns all the income. I only work 8 hrs/wk. If we buy a new house & were to be able to get it in both of our names, would we get the tax credit since I’ve never bought a house before? When do you get the credit – when you file your taxes? Do you have to have closed on your house by Dec 31st in order to get it? What is the credit – $8,000?

Answer: No, you will not qualify. All buyers have to qualify, not just one.

The credit is 10%, with an 8k cap. Closing has to be by Nov. 30.

Money expert

Fergus Muirhead answers questions from readers

Compaq redux: implicit taxes and the question of pre-tax profit.: An article from: Virginia Tax Review $9.95 This digital document is an article from Virginia Tax Review, published by Thomson Gale on March 22, 2007. The length of the article is 16518 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Compaq …

To expense or not to expense: That is the tax question (Departmental information report) …

A question of loyalty: loyalty programs can be a boon to business, but make sure the tax considerations are handled carefully.: An article from: CMA Management $5.95 This digital document is an article from CMA Management, published by Thomson Gale on May 1, 2005. The length of the article is 1282 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: A question of lo…

Answers to two questions about the First Time Home Buyer Tax Credit.

Question: Why isnt my energy tax credit showing up on my turbo tax refund?

I spent around $9,000 on energy efficient upgrades to my house and it is not showing up on my turbo tax refund!!!!! why is this?
I know i dont get the 9 grand back! I am supposed to get a 1500 dollar tax CREDIT!
I dont owe anything into my taxes, and i entered in everything it needed to know about what i bought and how much it cost.

Answer: I had the same problem. Glad I’m not the only one. I’ll try tomorrow, on the 22nd and see what happens. I spent 9,000.00 on windows and 1000.00 on doors so I want my tax credit!

Expanded Adoption Credit Available for Tax-year 2010

The Internal Revenue Service issued guidance on the expanded adoption credit included in the Affordable Care Act.

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IRS Tax Secrets $13.41 SOLVE YOUR IRS PROBLEM TODAY Are you in debt to the IRS? If so, you’re not alone. Millions of Americans have IRS tax problems–problems that have the potential of ruining every aspect of your life. If you owe back taxes, the absolute worst thing you can do is nothing. The IRS can and will levy (garnishee) your wages, your pension, your savings, your property, or even your Social Security ch…

TurboTax Deluxe Federal + E-file + State 2011 for PC [Download] $45.98 TurboTax Deluxe: Guides you step-by-step to maximize your deductions…

HUGE Tax Refund Just for Indiana – Fiscal Tax on WISH TV

Question: Can we still get the first time home buyer tax credit?

We bought our house on April 2, 2008. Is there any way that we can still get the 7500 dollar first time home buyer tax credit? The only information that I can find says that it has to purchased on or after April 9, 2008. Any help is greatly appreciated.

Answer: Nope. You fell outside of the eligibility window. There are no waivers or exceptions.

Tax credits for home buyers come to a close

When the federal home buyer’s tax credit program finally sunsets on Thursday, more than 65,000 Floridians will have taken advantage of the incentive program, claiming more than $455 million, according to the U.S. Government Accountability Office.

Home sales last year were better than in 2008: many believe the federal first-time home buyers’ tax credit was the key.(Residential Real Estate … An article from: Mississippi Business Journal $9.95 This digital document is an article from Mississippi Business Journal, published by Dolan Media Company on January 25, 2010. The length of the article is 1176 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Home sales last year wer…

First-time buyer tax credit can be used upfront for purchase costs.(Briefing Book)(National Association of Home Builders of the United States)(Federal … article): An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on July 1, 2009. The length of the article is 357 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: First-time buyer tax …

New tax credit good news for first-time home buyers.(Business)(Taxpayers may be eligible for up to $8,000 that does not have to be paid back): An article from: The Register-Guard (Eugene, OR) $9.95 This digital document is an article from The Register-Guard (Eugene, OR), published by The Register Guard on February 26, 2009. The length of the article is 655 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: New tax credit good ne…