The Federal Tax Credits Blog

Posts Tagged ‘credit’

Question: 2008 Tax Credit to aid first-time homebuyers:?

In early 2008, I purchased a home and was able to receive a credit of $7,500.00 at tax time to be paid back over 15 years, interest-free. Now this question will be open for a while… The question is this: Can the 2008 Home Buyers Tax Credit be refunded by any means? I mean don’t get me wrong, I certainly appreciate this credit (which has allowed me to stay in my home through tough times), but wish I would have been so lucky to have purchased by first home in 2009 where the EIGHT GRAND is free money; fully forgiven:

So if you have any advice of any way to see if this credit can be changed, your answer would be much appreciated.

Answer: As of now, the 2008 credit has not changed.

You still have to pay it back over 15 years beginning with your 2010 tax return.

Harper’s First-Time Home Buyer Plan is Garbage

Question: What’s the point of having federal and provincial tuition amounts?

I actually have 2 questions.
I know these are non-refundable tax credits and I can use them to pay for whatever taxes I owe but I can’t even use it because I have low income of course since I’m a full time student, and I’ll probably not be able to use it until I graduate when I do have a high income job.
Can someone give me some reasons it will benefit me while I’m in school?
And what if I transfer these amounts to my mother, will she be able to use it to pay off the taxes she may owe for her tax return and get a higher amount (like an extra $10,000 from a tuition amount of $16,000+) of money from her refund?
Edit- So since I can only transfer $5000 max, if say she owes $5000 in tax, will she receive the $5000 in her tax refund that was not deduted?

Answer: You are right about tuition credits as being non-refundable. If you are low income (>$8,000), you won’t need to use your tuition credits. The only benefit you’ll get at the present is the accumulation of these credits for future use. You might not see this as a benfit to you, but you can definitely help your mom lower her tax liability. Unfortunately, you can only transfer a maximum of $5,000 of your tuition credits for the present year.

Hungary: Modernizing the Subnational Government System (World Bank Discussion Papers) $14.99 Hungary has been a pioneer in local government reform among transition economies. Through a series of legal reforms introduced since 1990, Hungary has decentralized the state administration and re-established the full autonomy of local governments. The local governments have adjusted resolutely to the changing circumstances, but are reaching the limit of their ability to adapt in the current frame…

Welfare Benefits and Tax Credits 2006 $33.04 …

Hope Tax Credit

replacing windows Houston , Before and after

Question: home tax credit…………?

my husband and me are buying a home contract for deed and only paying 5,000 for it.. we are paying it off when we get our income tax money..

can we do the tax credit thing??

and how much will we get..

thanks for any info..
8 minutes ago – 4 days left

Answer: If you pay $5000, the 10% credit would be $500.

Contract For Deed Buyer Tips- Jason Regenscheid Edina Realty North Oaks

Question: Raising the debt ceiling is not the fix all that everyone is pretending it is…?

I understand how it could temporarily keep us from bankruptcy, but isn’t raising the debt ceiling basically just extending us more credit that we really can’t afford to pay in the long run? It seems when $.40 on every dollar our government spends is borrowed at some point we are going to have to get real about where we are headed. If conservatives would agree to some kind of tax increase, Democrats what programs would you agree to cut?

Answer: of course it is not.. we cannot borrow even more money.. just who in hell does he think is going to pay it back. Obama will be living on his island with Soros by then.. he doesn’t care.. he just wants to be able to finish the job of royally screwing u America,

never has a president worked so hard AGAINST the people and the country.

Tax credit deadline: home builders, realtors want program extended, expanded.(Focus): An article from: Mississippi Business Journal $9.95 This digital document is an article from Mississippi Business Journal, published by Dolan Media Company on August 31, 2009. The length of the article is 781 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: Tax credit deadline: home …

CBS 4 Quad Cities Story on Hare’s Call for an Extension of the First-Time Homebuyer Tax Credit