The Federal Tax Credits Blog

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Hurricane System Science

Question: Does the “new car” tax credit apply to both used and new cars or just new cars?

Hi, I bought a pre-owned car in April 2009. I know there’s a “new car” tax credit on tax returns for people who bought a new car in 2009, but does that apply to a used car?

Answer: new only it’s another way of getting in debt but i see what you are saying

All 8 Free Credit Report.com Songs With Lyrics

Open for Questions: Earth Day

Question: Did we lose “GREEN” tax deductions in 2008?

I was told by my tax preparer that Bush invalidated all the Energy savings credits before leaving office. Therefore, she could not deduct the $5500 i spent for new windows & new Air-conditioning unit. (a fairly involved affair since i live in a 1-bdrm condo, top/3rd floor)
From where i’m sitting it is inconceivable that someone would take away these credits. Is it really true????

Answer: The energy credits ended with the 2007 tax year. Bush didn’t invalidate them, they just were set to expire like many tax credits do. (Congress makes the tax law, not the president) Congress and Obama renewed the credits for 2009 as part of the massive bail out. If the economy wasn’t down the tube, the credits probably wouldn’t have been renewed.

As for the new windows and new A/C, only the new windows would have helped. A/C is not a qualifying energy credit. The purchase price of the windows would have been reduced to $2,000 and then the credit would have been 10% of that, for a maximum credit of $200. This credit would have been a non refundable credit.

Sorry that you missed out on the $200. If it makes you feel any better, I missed out on the $8,000 new home purchase rebate by 1 month.

The elusive face of anarchism

Portrait of an anarchist: Daniel Kyle Wilson, age 20. In a news photo taken May 1, 2008, he looks like a thrift-store ninja, ski-masked, wrapped in black from head to foot. His shoes are black, with three gray stripes. … Wilson stands in profile. His arm is cocked. His fist clutches a rock. He aims it at the window of the U.S. Bank on Fourth Avenue and Capitol Way. • EDITOR’S COLUMN …

How To Make Home Energy Efficient

Question: are you worried about losing entitlements?

im a white male. i have never qualified for any social programs. even with the same economic assets as blacks. the entitlement system is for life style dependency. i go hungry while minorities get fat. we could drop food stamps, welfare, energy assistance, emergency phones,
section 8, and earned income credit. it wouldnt take a dime from a white male making less than 16k. maybe its time for self dependency.

Answer: What’s so sad is, we are going to lose ALL of the entitlements , even the Social Security for senior citizens, if we do not get our country in order, all because the LAZY want a handout instead of earning a living, now the seniors cannot work and the trash will get a job NOW , after they have destroyed it for the hard working people that PAID into the system, I think the liberals that allowed this to happen to our seniors should be lined up and shot and shot again if missed the first time, Oh! you say , how awful, well how awful is it for the seniors*******************************************************************************************

STATE: California wants YOU to make your house energy-efficient

Leaky heating ducts, thin attic insulation, and ancient appliances suck energy from a home like a tick sucks blood from an unwary hiker.

what is the SREC program (solar renewable energy credit)- Absolute Green Energy Corporation