The Federal Tax Credits Blog

Posts Tagged ‘finance’

California real estate agent specializing in Oak Park homes explains requirements for extended $8000 tax credit

Los Angeles – Oak Park, California – The news that the $8000 tax credit program was extended may be a few weeks old, but Carol Lee, a real estate agent in Oak Park California says many would-be buyers still don’t realize that the program was not only extended but expanded to reach more buyers.

Question: Lifetime Learning credit?

I used H&R Block online to file my taxes. When I got to the education credit part it said that I can get a credit of $393. But towards the end, I received a message saying my refund limit went from $1000 to $393. It still showed $900 refund but the education credit was not showing up. Just the federal income tax that was withheld. Is there a way around to get my refund of $900 plus the education credit? I would really appreciate help ASAP! Thanks!

Answer: The education credit is a “non-refundable” credit. If your tax bill is $0 and you got all of your withholding back (the amount in box 2 of your W-2), there’s nothing left to refund.

The $393 credit only brings the tax bill closer to zero. It can’t take it below zero.

Free clinics offer tax help

I’ll be honest with you. I’m no good with numbers. It’s probably no coincidence that as I aspired to being a writer and journalist, I was also taking calculus in high school. No surprise, then, that during tax season I usually get my taxes prepared by someone else.

Indiana Tax Preparer Filed False Claims for Refunds

Question: Can a credit card company garnish my State tax refund?

I recieved a letter in the mail from Capital one trying to collect. I got a letter that says on the top ” Request and writ for garnishment ( Income tax refund/Credit) ” my question is, i efiled my taxes and im having my refund direct deposited into a prepaid card through TurboTax, how will they get my money? and on the paper it states The Plaintiff: Capital One, Defendant: Me and under me it says Garnishee: Third party witholding unit, Michigan Dept. of treasury. Does this mean that the state will pay the creditor before they pay me?

Answer: Capital one is a crap company. what you are describing sounds like they have already sued you or made a letter that looks intimidating enough to coerce you into paying.. They can garnish your return if you have one coming to you and there is a judgement they won against you. isn’t that fun!

please refer to this web site. it has a lot of information about how to protect yourself and also informs you of what powers you have under the laws in regards to taxes, credit and other stuff for personal and business.

say hello i’m Claytp on this site

TNInvestco tax credit documents will stay sealed

That means a Franklin-based venture capital firm shut out of the program won’t immediately get to see how the state rated 25 firms that applied for tax credits under the state’s TNInvestco program or view the winning scores of six firms chosen to participate.

How To Sell Your Home Without A Capital Gain Tax

Question: What is low income housing tax credit?

How does a for profit developer get it and what does it mean?

Answer: Tax credit housing or Section 42 housing gives the property owners a tax credit in exchange for having income guidelines on their properties. This is good and bad for the owners, it is a lot harder for them to fill up their communities. This leaves them with less income due to higher vacancies.

Some developers are finding that it seems like a good idea, because of the tax credit you get…but in the end they could have made more money than what they got from the tax credit if they go with a conventional property.

Tax credit is a hard thing to learn, and to make sure you are following all of the guidelines. It becomes a nightmare for the leasing agents and tenants. Good luck!

Study: Michigan could grow jobs, revenue by cutting business taxes

A new study released Thursday says Michigan would create 25,300 more jobs and $85 million more in tax revenue over the next three years if it generally cut businesses taxes rather than give specific tax breaks for filmmakers, developers and a long list of new or expanding businesses.

Tim Walberg calls for Research and Development Tax Credit

Question: Council tax issues?!?

I have been very silly and not paid my council tax (couldn’t afford it) now moved away from the property and I have been told by the bailiff collection company that are dealing with it now, that I have to pay the FULL amount in one month, but of course I can’t – I’m under a debt management programmer for my credit debts, and they have explained that they have to accept what you offer to pay back as long as its a reasonable amount per month, where do I stand?

Answer: Council Tax bailiff’s are, if you are genuinely in hardship, reasonable, however, as you say, you must make a reasonable offer to be accepted.

It’s a shame you got to this as now you will have costs too from the bailiffs.

Explain to them the programme you’re on and if necessary, complete a means form ( a form outlining what you owe and what you are paying out)

Good luck.

Incidentally, how old is the debt you owe? If they are chasing you outside the statue of limitations, they can’t get it anyway.

Bernanke’s Low Yields Keep Los Angeles From Refunding Bonds

March 1 (Bloomberg) — Natalie Brill , chief of debt management for Los Angeles, would like to take advantage of record- low interest rates to save at least $4.55 million by refinancing bonds for the second-most populous U.S. city.

Property Management Software | Overview | SimplifyEm.com