The Federal Tax Credits Blog

Posts Tagged ‘economy’

Question: FIRST TIME HOME BUYER CREDIT?

I have a customer who is interested in purchasing a home. They sold a home in 2006 and the title transferred June 1st 2006. They want to take advantage of the first time home buyer credit in the 2009 Economic Stimulus Package, can they take title to a new home on 6/1/09 and qualify for the $8,000 tax credit?

Please advise.

Answer: To play it safe, they should schedule a closing after June 1.

Unwinding stimulus measures to be main challenge for governments in 2010

SINGAPORE: Heading into 2010, governments worldwide will have to start addressing the issue of when to withdraw stimulus measures.

State infrastructure spending and the federal stimulus package.: An article from: National Tax Journal $9.95 …

2009 First Time Homebuyer Tax Credit

Question: I don’t want to bail out lenders, do you?

Seems in this financial/mortgage crisis, the government is going to try to bail out Freddie Mac and Fannie Mae, holders of half the nation’s mortgages. I see no way this helps you and me. Is this action not just helping lenders who have exercised poor judgement?

If these lenders are bailed out at the cost of billions, will it not mean either more national debt or higher taxes for you and me?

If the government wants to step in during a financial crisis, then let them help you and me, let them give us some sort of special tax credit or deferment.

Thoughts?

Answer: I don’t know alot about finance and money stuff… but my guess is that we’re all screwed.

Let housing prices do what housing prices do

Some worry that home prices are headed for a double dip and want Washington to do something about it, writes columnist Froma Harrop. We should worry that Washington takes their advice.

How To Buy A Fannie Mae REO Foreclosure Home

Question: If credit unions don’t pay taxes because they are their members owned. Than why do they treat you like a bank?

Banks have to pay taxes. Credit Unions do not. The reason for this is because they claim to be Membership owned. Being a member for 9 years and having at one time 160,000 dollars in their vaults. Now the money is gone, but still making substantual monthly deposits. I become in need for 10,000 dollars and they make you feel like I want a million. The bottom line is I feel like being a member has made no differance. So why should Banks have to pay taxes and credit unions do not. Because they are liars. They are not their for the Members. Just like a Bank.. Mountain America Credit Union. I closed my membership! Maybe you should vote yes to making credit unions pay taxes. What the heck are they doing with your money people?

Answer: I think as with anything, there are both good and bad. To be honest the reason I prefer my credit union is because I can get in and out in just a few minutes. Whenever I am forced to go into a mainstream bank (i.e. BoA) I find myself waiting in line for hours.

Changes in Morristown include a political surprise

Councilwoman Michelle Harris-King called it a town-wide party. Tim Dougherty, the new mayor, said the room represented what Morristown is all about. Sure enough, it was an eclectic crowd at the new mayor’s inaugural lunch at the Hyatt Hotel.

The senate’s discredit: the recent vote to suspend the BET credit was careless and ill-considered.(Editorial): An article from: New Hampshire Business Review $9.95 This digital document is an article from New Hampshire Business Review, published by Business Publications, Inc. on June 5, 2009. The length of the article is 431 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: The senate’s discred…

Candidates, congress vie for vote of uninsured.(Practice Trends): An article from: Clinical Psychiatry News $5.95 This digital document is an article from Clinical Psychiatry News, published by International Medical News Group on August 1, 2004. The length of the article is 886 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citatio…

Congress votes to limit use of foreign tax credits.: 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 October 1, 2010. The length of the article is 348 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: Congress votes to limit use of …

First Time Home Buyer Tax Credit And Responsible Journalism