The Federal Tax Credits Blog

Posts Tagged ‘jobs’

Question: Form 8850 – Ex felon tax credits. What does this mean?

I recently hired a felon to work for me. He went to jail and was convicted of a felony. He is still on probation and I wanted to know if the tax credit would apply? We are located in Florida.

He made a mistake and has been of jail for 2 1/2 years. He never went to prison and is on felony probation which he has been on since being out of jail and is doing great.
Thanks for help ahead of time.

Answer: Check the form and instructions. It looks like he would qualify.

Press release: State of the state text

SANTA FE – The following is the text of the State of the State Address delivered by Governor Susana Martinez from the chamber of the New Mexico House of Representatives on January 18, 2011. Governor Martinez – 2011 State of the State Address …

Question: Working and child tax credits help?

I’ve never even thought to look into it until today as I’ve been told it comes with a lot of paperwork. I used the online caluclator to work out how much we might be able to get and it said £151.50. Is that per year? It seems totally not worth anyones time or effort filling in those forms for £12 per month. I suppose it about pays for the TV licence though!

Answer: the best way is just to ring them, they will be open tomorrow, i get £87 child tax credit a month, my husbands earnings and mine added up to 48 thousand if that helps

German businessman ‘John Rabe’ stands up to Japanese army

A German businessman helps save 250,000 lives during Japan’s 1937 invasion of China in the inspiring drama “John Rabe,” arriving Sept. 7 on DVD.

08/16/10: Governor Quinn Encourages IL Employers to Take Advantage of Small Business Tax Credit

Question: I’m searching for employment at a property manager and need some help…?

For about 15 years, I’ve worked as a property manager for 20 units that I own. At this point, I’m looking to go to work for someone else full time. After sending out some resumes, I haven’t heard back from any companies that are hiring. I don’t have any tax credit experience which is a big minus. I am contemplating returning to school for either my CPM or ARM and wonder if anyone has a recommendation on which I should pursue or some other words of wisdom. Thank you for your help!

Answer: In most states you have to have a real estate brokers license to manage property you do not own. You did not say where you are, but there is a good chance they can not legally hire you as you are not qualified.

New hires save businesses money

To promote employment, the HIRE Act rewards businesses hiring workers by eliminating FICA taxes.

Fimian Minute: Hiring Tax Credit

Question: Income tax: credit from another state?

Does anyone know exactly how to get this right? I work in NY and live in NJ. I only pay tax in NY. I have always used taxcut to claim tax paid in NY in the NJ tax. But this year things are looking suspcious…
1- what is the income I should use? Is it my state AGI or my state taxable income? More precisely, in my IT-2003 from NY, which field to use for that?
2-For the tax paid to the other state, I believe I simply use the box 17 on my W2 for NY.
3- Also, never before I had my W2 reporting NY and NJ with 2 diff values on box 16, state wages. This year I have such scenario, and was told it is because of my 401k. Well, same company, and always contributed to 401K before, so afraid last few years will have to be amended.
4- When entering my taxes on the W2 session of the software, I assume now I have to enter one line for each state, right?

Thanks.

Answer: You file a “resident” state income tax in New Jersey, and a “non-resident” state income tax in New York. This is the way you should have been filing all along.

I don’t know what tax software you use, but in Turbo Tax, the interview asks “did you earn money in any other state” and then it will guide you through the different state income tax forms (for a fee of course).

A magic word

WORCESTER – Want to send an e-mail, check a bank account balance and pay a credit card bill, all on a phone, without typing in all those often hard-to-remember passwords? There’s an app for that.

Federal Agents Raid Clinton, Iowa Business

Question: Do you support/oppose a re-authorization of the Patriot Act?? (currently included in Dems “jobs” bill)?

Several key Democrats say there is no deal on an $80 billion jobs bill — even as Majority Leader Harry Reid has been pushing for quick action in the Senate ahead of a snowstorm that has largely shut down Capitol Hill………………A draft of the roughly $80 billion bill, obtained by POLITICO, has a wide range of tax credits and job creation ideas, but it also includes provisions unrelated to jobs, including a reauthorization of the Patriot Act, infusion of new money to the Highway Trust Fund and extension of the so-called doc fix.

http://www.politico.com/news/stories/0210/32744.html

Answer: Personally no.

I believe it to be unconstitutional and a threat to my personal privacy.

DeLeo, Reinstein praise job creation effort

REVERE – Revere’s legislators say two proposals supported by their colleagues will create more jobs overall and promote job creation in Massachusetts’ film industry.

Newsom Highlights Tax Relief and Job Creation for SF Business