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Archive for the ‘Tax Credit Stimulus’ Category

Question: Stimulus eligibility for new home buyer?

I recently bought a house in July of 2008, and I understand that Bush passed a law that gave a $7500 tax credit/loan to new home buyers. The loan would be repaid over 15 years and it would come out of your taxes. With Obama’s new stimulus, I’m confused on if that affects me at all. I know that the new housing deal is if you buy a home between January 2009 – December 2009, but I’ve read that this stimulus may also affect the previous housing bill? Can anyone clear this up for me?

Thanks!

Answer: I do think this will be signed as is:

Temporary credit for home buyers: The bill increases the size of an existing temporary and refundable first-time home buyer credit to $8,000, up from $7,500. It also removes the requirement under current law that the credit be paid back if the buyer stays in the home for at least three years. And it would extend the credit’s expiration date to Dec. 1, 2009, from July 1. Those eligible for this credit must have purchased a home after Jan. 1, 2009, and before Dec. 1, 2009.

It will not affect anyone buying in 2008.

Economic collapse: Don’t blame the free market

A more realistic view is that a housing boom and bust happened to strike a fragile financial system whose fragility was worsened by ill-conceived government interventions.

Republican hypocrisy exposed: top GOP lawmakers take credit for stimulus bill passage

Question: I got screwed out of my stimulus because I am over 17 make over 3k but I’m claimed from my parents.?

My parents claimed me while I am in college to try to get a tax break…I am 21 years old have my own home which I have a mortgage for…I go to school 20 credit hours in college and work 42 hours full time job and make over 3k per year. I got screwed out of my Stimulus when college kids trying to save for their tuition and still try to have a life should get this money!! I work hard!!
I am on good terms with my parents. And well I mean my parents did pay for everything when I was a child and middle school and until I was old enough to get a job … so I think I would feel guilty to ask for it ya know??
And saying my parents did it for a tax break sounds bad… I didn’t mean it like they are swindlers. Most people claim their children through college so its not like a “tax break” as I called it.

Answer: The parents do NOT get any extra for a college kid on their stimulus because you don’t get it for dependents over 17. So where does these kids 300.00 go? The parents get a break on their actual taxes but nothing extra on their stimulus.

Obama continues touting tax credits for clean-energy manufacturing

President Barack Obama wrapped a two-day sales pitch for his administration’s economic policies by pushing for a $5 billion expansion of tax credits for clean-energy manufacturing, an industry that recession-worn Nevada has clung to as a potential lifeline.

The Earned Income Tax Credit Obamas Stimulus Welfare Scam

Question: Obama’s plan to help college students pay for school?

I’m working on a budget for myself and trying to figure out how I can afford college. I’m one year into a four year program for Elementary Education. My grandmother has told me that Obama has some plan to help out college students. I’ve tried to find out more but it looks like a tax credit. Can someone explain how that works to me? Do you pay for tuition up front then receive the money back at the end of the year? I’m rather confused on this.

http://www.forbes.com/2009/03/10/college-tax-credit-stimulus-personal-finance-retirement-new-credit.html

Answer: Obama increased my grants by $3,000. Apply at FAFSA.gov.

Rising tide of red ink contained by fiscal discipline and good fortune

Finance Minister Colin Hansen claimed credit for “prudent fiscal management” Thursday as he released public accounts showing the deficit for the past year was more than three times larger than the “maximum” touted by Premier Gordon Campbell during the election campaign.

Economic Stimulus Plan | Tax School | Tax Education | Liberty Tax Service

Fiorina talks jobs at San Diego lumberyard

Republican U.S. Senate candidate Carly Fiorina visited a lumberyard in Sorrento Valley on Friday to illustrate lost jobs in the state and claim that policies backed by Democratic incumbent Barbara Boxer haven’t helped.

Stimulus Act eases taxes for individuals, small businesses.: An article from: Journal of Accountancy $9.95 This digital document is an article from Journal of Accountancy, published by American Institute of CPA’s on April 1, 2009. The length of the article is 1973 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: Stimulus Act eases taxes …

Numerous tax provisions in Stimulus Act.: An article from: The Tax Adviser $9.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on April 1, 2009. The length of the article is 1539 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: Numerous tax provisions in Stimu…

State infrastructure spending and the federal stimulus package.: An article from: National Tax Journal $9.95 This digital document is an article from National Tax Journal, published by National Tax Association on September 1, 2009. The length of the article is 4788 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.From the author: Nearly one-quarter of the $787…

Senate Amendment to 2009 Stimulus Bill: $15000 Tax Credit for Homebuyers

Economic rebound slowed last quarter

ASSOCIATED PRESS WASHINGTON — The economic rebound last quarter turned out to be slower than first thought, one of the reasons unemployment is likely to stay high this year. The economy grew at a 3 percent annual rate from January to March, the Commerce Department said Thursday. That was slightly weaker than an initial estimate of 3.2 percent a month ago. The new reading, based on more complete …

2/17/10: White House Press Briefing