The Federal Tax Credits Blog

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Question: Will I receive a tax refund this year?

I am a nurse and I grossed $45K in 2008. My federal tax withholding was $5225 and my state withholding was $1300. I am also a full-time student. I have been receiving the Lifetime Learning Credit for the last 2 years and my educational expenses were approximately $16K. I am completely tax illiterate and I want to start learning a little more about my money. Thanks!

Answer: yes about 3600.

City leaders, think tankers suggest various causes of Detroit’s high illiteracy rate

A damning report released this month showing that nearly half of all adults in Detroit, Michigan are functionally illiterate has pundits and officials playing the blame game.

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NCEA’s Lindalyn Kakadelis discusses education tax credits

Calendar

Submissions for “Community Calendar” are required two weeks preceding the date of publication. Send to: Mary Ann Bottari, Pioneer Press, 3701 W. Lake Ave., Glenview IL 60026; mbottari@pioneerlocal.com. Information may be faxed to (847) 486-7495. PARK RIDGE Agenda The city of Park Ridge lists the following meeting for the week …

Question: How do I file my taxes if my state of residence is in Texas but I’m self employed the whole year in California

I worked as contractor/1099 in California. The contract lasted 11 months. I rented an apartment and driving my own vehicle which I shipped from Texas to California. Monthly I went back to Texas for R&R of 3 days. Do I get tax credit for the expenses mentioned above when I file an out-state return for California? can I file part of my salary as per diem which is non taxable?
How does the above circumstances affect my federal tax filing

Answer: You file a nonresident California tax return. If you maintain your principal home in Texas you will have deductions for your living expenses in California.

You can take a meal per diem which in most areas is $45. Keep receipts for everything else, plus a complete mileage record.

Your state return comes from the federal return, and your business deductions taken on Form 2106 will be recognized on the state return.

New home sales up 11 percent

More people bought new homes in March, giving the battered industry a small lift after the worst winter for sales in almost a half-century nationally.

Stop Foreclosure the Legal Way

Question: How do you repay the $8000 first time home buyer credit?

I received the $8000 First time home buyer credit when I bought my house June 2009. Certain things came up and now my wife and I can not afford the house. I need to know how I would have to repay the $8000 if I sold the house before the 3 year mark.

Any and all information is welcome.

Thanks

Answer: 8k due April 15, 2011 in full.

County home sales and prices drop in first quarter

The new year is off to a rocky start for Tooele County’s real estate market.

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Overpayment interest accrues on first-time homebuyer.: 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 June 1, 2010. The length of the article is 678 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: Overpayment interest accrues on fi…

Federal Housing First-Time Home Buyer Tax Credit Program: Top Five Facts

Question: I get DLA the higher rate for care. Does this mean my child tax credits will change. I am not working.?

I really need some help on this.

Answer: I think your carers allowance is classed as an income, so yes.

600 disabled children ‘to miss out on £1,500’

Families with disabled children will receive nearly £1,500 less a year as a result of government changes to the welfare system, an MP has warned. Oldham East and Saddleworth MP Debbie Abrahams said there are more than 600 disabled children in Oldham and their families would miss out on £1,456.

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