The Federal Tax Credits Blog

Posts Tagged ‘home’

Question: Is their Quote on 2009 Toyota Tacoma FAIR?

HI all, I am an new regal immigrant in US and first time trying to buy a car.
I went to Toyota and get a quote 09 Tacoma D-cab long, TRD sports w/JBL. they said base 27,075 + TRD 3,375 + Manu/Delv/Proc/Hndle Fee 795 = MSRP + ADM Fee 579.50 + Tax 7% + Title 21 = 34,073.21. They reduced it on 33,500 out-door price as they expect the rebate for 09 will probably be 1,000, but they said it depends on the market situation nex year. They can’t guarantee it. it might be 1,000, 1,500, 2,000, or nothing. if nothing, price will be + 1,000.
Because it is special order, they needed to charge me 500 deposit that time to the factory to start assenble it, and I agreed to pay. it will be ready on mid Jan 09. Could I still have a space to nego on this at the time to finally get purchase? Or is it about fair quote?
We haven’t make any documents or sign at all but paid 500 by credit card.
Please advise me.

Answer: The deal itself is probably okay. It is hard to quibble over a $1000 on a $34,000 truck. I would be more concerned that this is your first vehicle and you are paying quite a bit. I don’t know your circumstances but can you afford the payments? A lot depends on what financing is being offered. Toyota has some good rates on some vehicles but not every model. If you can get your loan through your credit union, you may save money in the long run. You have to look at the total cost not just the vehicle price.

Michael Hudson: Free Money Creation to Bail Out Financial Speculators, but not Social Security or Medicare

By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City and a research associate at the Levy Economics Institute of Bard College Financial crashes were well understood for a hundred years after they became a normal financial phenomenon in the mid-19th century. Much like the buildup of plaque deposits in human veins and arteries, an accumulation of debt gained …

Mathews Brothers Window Testing

Question: Can I file my taxes, get my refund, and then file an amendment to get the home buyer tax credit?

My boyfriend and I purchased our first home last September and now I want to claim the $8000 home buyer credit, the one you don’t have to pay back. I know that we qualify for it but while I was preparing my taxes an FYI came up that said that not only can’t I e-file because of the credit, but also that the IRS wasn’t going to process returns based on the home buyer credit until late March. I have a refund coming to me over and above my half of the home buyer credit. I thought maybe I could process my return without it, e-file and get that refund, then process an amendment for the $4000. Does anyone know if that will work or am I going to his road blocks because of it?

Answer: Yes you could do that , but let me tell you that amendments 1040x are not pretty, specially if you are planning to do it yourself, you need to do a 1040 with schedules and receipts for the wrong amount and then another one with the new amount you can’t do it online and you probably will have to do both state and federal and sometimes can get very complicated. Not just for you but also the clerks that processed that sometimes get confuse and then you have to keep calling them to fix it

Question: PA child support question?

I received a letter about 2 weeks ago stating that i will be receiving my ex’s tax refund. i have gotten these letters in the past and it says about it being withheld for 6 mths cuz hes filed jointly. i have never waited 6 mths before. i looked online and i saw that in pa it says that if she filed an injured spouse form at the time they filed, domestics will hold it for 90 days from the date of offset. my question is….how do i determine when the date of offset is? do i take it from the time they filed, or from the date on my letter? im pretty sure she has already filed this from. also…domestics already credited the amount to the arrears. how can they do this, yet not give me my money? if it is credited it towards his arrears, shouldnt they give me the money? thanks in advanced

Answer: Try the law category.

Village News

•GWA customers may now pay their bills over the phone by calling 647-4729 from 8 a.m. to 5 p.m. Monday through Friday. Customers may still go to the upper Tumon office, open 7:30 a.m. to 6 p.m. Monday through Friday to pay by credit card, cash or check; or you may pay online: www.guamwaterworks.org (click on box Pay GWA). Call 647-2603.

Benefity i podatki w UK – Working i child tax credit 3

Question: Can I contract to buy my neighbor’s federal tax credit from installing solar panels on his roof?

Anyone know the IRS rules with respect to purchasing tax credits from another taxpayer?

Answer: I’m not sure why you would want to do this. It’s a tax credit, not a deduction, so would not change your tax bracket even if you could/did buy it. Usually, a contract has an advantage for both parties, and I’m not sure what each of you would gain in this case.

If your neighbor is short of cash to install a solar system, you could do an ordinary loan to him (even draw up legal documents). Your neighbor would repay you over time, either in several installments, or one lump sum. Presumably, the neighbor would have extra funds at tax time, because of the tax credit, with which to pay you. The federal credit is not refundable, so if the neighbor’s taxes do not exceed the credit, they will have to spread the credit out over several years.

All this said, financial deals gone wrong can make for horrible neighbor situations. You probably shouldn’t do it, unless you love them so much that you’d just give them the money, without expectation of being paid back.

Biz Briefs

Net Zero event set for June 17

WindEnergy 7 – WindEnergy7-com

Question: Obamas plans in the State of the Union speech?

I know that he talked about More Funding for Programs to Care for the Elderly,Expanding Child and Dependent Care Tax Credit for Middle Class Families,rducing student loans and limiting the amout of money candidates can use for their campain…what else?

Answer: he talked about how the twilight series were the best movies ever

Fitch Rates New York City’s $130MM GO Bonds ‘AA’; Outlook Stable

Fitch Ratings has assigned a rating of ‘AA’ to the following New York City general obligation bonds:

Health Care reform and its affects on individual and group health insurance coverage.