The Federal Tax Credits Blog

Posts Tagged ‘business’

Question: child tax credits: Did anyone else in UK get their monies in their bank a day early today?

when i rang the inland revenue they said its because of the irish bank holiday????
has this happened to anyone else & what the heck is Ireland’s bank holiday got to do with us in England?

Answer: there are 4 processing centres in the UK, claims are divided amongst them, if a bank holiday is held in the local centre that ‘owns’ your case then you get paid early. Claims can be sent to any of the processing sites and not necessarily your nearest one. your claim must have been processed and store in Northern Ireland

French public debt hits record

France’s public debt soared to a record 75.8 percent of output in the third quarter, official figures showed Wednesday, a week after Paris got a warning on its credit standing.

Ann Arbor Michigan Prevails Over India, Ireland

Question: Can I still get the 2009 stimulus tax credit?

Can I qualify for the stimulus tax credit if I own a home but are renting it out?

Answer: If you are talking about the first time homebuyer’s credit….

No.

You must BUY your first home between 1/1/09 and 11/30/09 and live in it to qualify for the credit.

Rental properties do not qualify.

Turkey Plans 1.5%-3% Withholding Tax On Equities – IHA

ISTANBUL -(Dow Jones)- Turkey’s Finance Ministry plans to set a withholding tax for both local and foreign investors at between 1.5% and 3% when they invest in Turkish equities, Turkish daily Referans reports Thursday, the Ihlas News Agency, or IHA, reports.

NBR | Tax Tip 2 Making Work Pay | PBS

Today, when organizations are looking around to reduce extra cost for increasing organization’s return on investment, they are switching from Lotus Notes Domino Server to Outlook Exchange Server. The reason behind migrating from Lotus Notes to Exchange is the complexity of Lotus Notes. It is very complex to install and configure Lotus Notes. Although, Lotus Notes is secure it demands highly experienced technical help desk for maintenance. Apart from this, most of the employees in an organization are found unfamiliar with Lotus Notes; therefore, a thorough training needs to be arranged for them so that they can use Lotus Notes. All this cost a lot to the organization.

On the other side, MS Outlook and MS Exchange Server are much simple than Lotus Notes and are easy to install and manage. As Outlook comes with MS Office package, most of the users are familiar with it; therefore, no training is required to let the employees acknowledge the processes to use Outlook. Because of these noticeable differences, which can help organizations increase return on investment, most of the organizations are migrating from Lotus Notes to Exchange. However, smoothly migrating from Lotus Notes to Exchange is not an easy task while you also have to look after that employees’ working should not be affected during the process.

But, you do not need to worry about that because now migrating from Lotus Notes to Exchange has become very easy and efficient with Lotus Notes to Exchange migration tools. Lots of Lotus Notes to Exchange migration tools can be easily found over Google, Yahoo, and MSN search engines. However, selecting a good migration program is a tricky process in which you need to check the quality of some Lotus Notes to Exchange tools before purchasing them. Most of the organizations that deal in email migration programs also provide their trial versions with user guides. By evaluating the trial version on the basis of the process described in the user guide, you can check if the software perfectly performs Lotus Notes to Exchange migration or not. If you find the software pleasing then purchase the software to take its benefit.

www.notes-to-exchange.com

www.nucleusdatarecovery.org

Fannie Scores More Dough, French Propane, JPMorgan: Compliance

Dec. 29 (Bloomberg) — The U.S. government’s expanded capital backstops and portfolio limits for Fannie Mae and Freddie Mac increase “the prospect of large-scale” purchases by the companies of delinquent mortgages out of the securities they guarantee, according to Credit Suisse Group analysts.

Obama Goes Toe-To-Toe With Stephanopoulos On “Tax Increases”

The history of lottery in Canada is a short one but very interesting. Although the lottery is thriving very well right now in Canada, before 1967, it was not allowed by law to buy a ticket of the Irish Sweepstakes. The Government of Canada came up with an Omnibus bill in 1967 which was to take care of all laws which had turned obsolete and outdated. This bill was sponsored by the Minister of Justice – Pierre-Elliot Trudeau. He made an announcement that the government would make changes which were required so that the stand on lotteries in Canada too could become very clear.

While this was going on, the mayor of Montreal – Jean Drapeau, came up with a way to recover the money which had been incurred on the World’s Fair and the subway system which had been introduced out there. It was considered to be a sort of a voluntary tax to be paid by the public. In return for a payment $2 which would be donated, a player could take part in a $100,000 prize draw. Drapeau didn’t consider this draw to be a form of lottery as the winners were given silver bars as prizes. Also the people who qualified in the first draw would then have to answer four questions correctly so that they could actually win the prize in the second draw. The first draw was held on May 27, 1968.

This voluntary tax started a series of debates in Ottawa and Quebec City whether such a type of voluntary tax was actually legal. While the Minister of Justice considered it to be a kind of lottery, Drapeau stuck to his argument saying that it didn’t break any federal law. During this time of heated debates regarding the status of the voluntary tax, the monthly draws continued without facing any problems. It got participation from other parts of the world like Asia, Europe and the United States. Of course it had players throughout Canada taking part in it.

In 1968, the Quebec Appeal Court considered Drapeau’s voluntary tax to be breaking the law. But this verdict was not accepted by the mayor and he decided to appeal to the Supreme Court. Even as the debate continued further, the sales of this voluntary tax reduced drastically. Finally, on December 23, 1969 the government was allowed to run lottery systems by law after a suitable amendment was made in the country’s Criminal Code.

This led the way to the introduction of the first provincial lottery in 1970 – Quebec’s Inter-Loto. Once this happened, the other provinces too came up with their own versions of lotteries. The government of Canada was able to get much needed revenue so that the expenses spent on the 1976 Summer Olympics could be recovered by it. This lottery was known as the Olympic Lottery and run by the Government in the late 1970′s. Right now there are two national lotteries running in Canada – they are the Lotto 6/49, and the Lotto Super 7. Both of them are doing well in Canada.

Canada Afternoon: C$ Ends Higher; Higher Oil Fuels Gain

TORONTO (Dow Jones)–The Canadian dollar rebounded from Wednesday’s drop to finish higher in a light trading session Thursday. The gain was fueled by an increase in the price of oil and an unexpected decline in weekly U.S. jobless claims.

What is SR&ED?

Question: first time home buyer text credit?

Just bought a new home that is being built and it will be delivered in Mid December. Do I still qualify for the 8K tax credit? paid 10% down payment already, and waiting for the settlement in December to pay the rest and close? Any tax advisors out there?? Thanks a million!

Answer: You will need to close in November, Dec 1 is the dead line.

Politicians ring in the new year

Several local politicians used their annual New Year’s Day Levees as a chance to reconnect with residents while expressing their plans for the new year. In Belleville, Mayor Neil Ellis and city councillors met with a throng of residents who gathered at city hall to celebrate the new year.[...]

Brookfield Homes and Tax Credits