The Federal Tax Credits Blog

Archive for the ‘Education Tax Credits’ Category

Question: Are you taking advantage of the 30% off windows,doors,water heaters,A/C?

I am really liking what I see in this stimulus package. I was planning on upgrading my windows and entry door this summer anyway, also I was planning on installing a on-demand water heater. Now I will help the economy by hiring .. plumbers,electricians,carpenters. I wish people could be more positive about this stimulus, it is really a great thing. I also have two boy’s in college that I am 100% paying for their tuition. With the Education Tax Credit Obama has passed, I will have a tax savings of $2,500 next year applied to that debt. Thanks Democrats.. keep up the great work!!!
comment on reply below.. I doubt a high schooler would know what a On -demand water heater is..

Answer: OMG! Obama’s plan provides money to send kids to those evil liberal indoctrination centers known as colleges? This will not stand! Why…those boys will turn out to be “educated left-wing elitists”!

Somebody get Hannity on the phone now!

(BTW, good luck with the remodling! I like my on-demand heater.)

THE YEAR IN REVIEW: Local news highlights from 2009

A look back at the people and events that made news during the past 12 months in the Mid-Hudson Valley:

Senator Schumer on Education in the Stimulus

Question: UK question: Claiming tax credits as a working holiday maker?

Anyone familiar with this system, please help.

I have lived in the UK for 13; 5 as a child when my parents were working here as a nurse and accountant and then I have lived here for 8 years as an adult, student, work permit holder and working holiday holder.

I have a 2 year old daughter (not british) and Childcare costs are very high. I am a tax payer and I understand tax credits are available to help people who are working to cover their childcare costs. I am not technically a british resident so am I eligible for these credits.

Answer: Need to know your nationality in order to answer the question. If you are an EU citizen then you may be able to Claim Tax Credits however, as you have said that you have been a work permit holder I suspect that you are not an EU citizen. Hence it depends on your current immigration status. Have a look at the visa in your passport. If it says ‘no recourse to public funds’ then you cannot claim any benefits for yourself.
If you have been here continuously on non-temporary visa’s (e.g. work permit) for 5 years then you can apply for ’settled status’ (also called Indefinite Leave to Remain). Once you have ILR then you can claim benefits.
However for advice specific to your case I suggest that you go and see your local Citizens Advice Bureau who will be able to explain what options are open to you.

New Year money makeover: how to save £4070 a year

Figures from moneysupermarket.com show on average people could save £4,070 in 2010 by reviewing their finances.

Protest March Embankment to Green Park 11th April 2009 Tamil Genocide (UK)

Question: Student tax credits……?

Im 23, a student with no children who works over 16 hours a week. Am I entitled to tax credits?

Answer: No, if you have no children or disabilities then you have to be over 25 to Claim Tax Credits.

Students go green on red carpet

Design students at Michigan State University will be part of a national “Red Carpet Green Dress” competition to develop a high-fashion Hollywood runway outfit that also promotes sustainability.

The uncertain consequences of tuition tax credits: An analysis of student achievement and economic incentives (PONPO working paper) …

MLM Tax Breaks And Advantages Of Working From Home

Question: How do I determine which college tuition tax deduction/credit I am entitled to?

My son (age 19) started college in fall 2007. I made monthly payments towards his college tuition/room board. I received a 1098 recently. I do not understand this form, plus it is in my son’s name even though I am making the payments.

Thanks for any help!!

Answer: You can claim it as he is your dependent. You need to look up the information for the Hope credit. You don’t have to understand the 1098 in order to use it. Just insert the amounts in the boxes! You must file the 1040 in order to use it. I believe their is at least a worksheet or form you will need, too. It should all be in the FAQ section I found for you.

http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=&rf=&oq=&qt=hope+credit

Don’t Miss Out on Tax Savings

Many Tax Credits Available to Long Islanders Senator Kemp Hannon is reminding you to review this end of the year savings checklist, to make sure you don’t miss out on your savings.

Federal taxation of the petroleum industry: A description of incidence and policy implications (Cornell agricultural economics staff paper) …

An analysis of tuition tax credits, tax savings plans, vouchers, and independent higher education (A guide to tax policy and higher education) …

Farmland tax relief in Wisconsin: Use value assessment vs. income tax credits (Agricultural economics staff paper series / University of Wisconsin. Cooperative Extension Service) …

Recovery: Education Tax Credit-Claim it-Students – Jan 2010

Question: Just for fun – who else is hoping for a New Year’s Baby?

I am due January 5. I would love the baby to be born this year for the tax credit, but I also think it would be great fun to have the baby be the 1st one at my hospital in 2009. My son was born 5 days before his due date, so I feel that I have a pretty good chance. Who’s with me?

Answer: I think that’s wonderful, luck just might fall on you (=
Even if she isn’t born on New Years, I wish you luck and a healthy baby.

Cowen faces another tough year

BBC Dublin correspondent Shane Harrison looks at Brian Cowen’s first year in office as Irish Prime Minister.

Censored Number of people at Tea Party Anti Big Government Tax Rally In DC (9/12/2009)