The Federal Tax Credits Blog

Posts Tagged ‘obama’

Question: Why do people think Obama does not have enough experience to be President?

7 Years as an Illinois Legislator, founding such revisions and bills as the earned income tax credit, early education, and the videotaping of police interrogations (which came after several inmates on death row were proven to be innocent but convicted due to impropper interrogations.)

Critical Oposition to the Iraq War since the beginning (all other opposition leaders have since changed positions)

Constitutional Law Professor at the University of Chicago (10 years)

Harvard Law Degree (where he recieved highest honors and respectable positions such as the first African American president of the Harvard Law Review.

On going member of Congress and an influentual voice in the preservation of our constitution.

Is it truly his turning down lobbyist money and exciting the people about change in the way government is run that makes him a threat and evokes opponents and media into calling him inexperienced? Is this the best they have got?

Answer: It is thinly disguised racism.

He has more experience in an elected federal office than the past 5 presidents combined did when they entered the executive branch.

Senator Obama is far and away the best qualified person running.

Someone almost told the truth when trying to say he was inexperienced. They said that “black people don’t have a strong enough leadership history in the U.S.” for Senator Obama to be President. They may say what they will, but you can hear the “N” word reverberating in their little pea-brains.

Minority businesses shut out of stimulus loans

Loans handed out to struggling small businesses as part of President Barack Obama’s stimulus package have largely shut out minority businesses – especially those owned by Blacks and Latinos. Overall, white-owned businesses received over $130 million in loans through the program, while Hispanic-owned businesses got $4 million and Black-owned businesses less than $2 million.

Real Tax Cuts Making a Real Difference

Question: What is the first time home buyer $8000 tax credit all about?

I am thinking of buying a home by the end of the year. Can someone explain what this $8000 First time home buyer tax credit means exactly??

Answer: Congress has improved this plan from the first version that came out last year. Most of the mechanics of the credit will be the same as under the 2008 rules:
•The credit will be claimed on a tax return to reduce the purchaser’s income tax liability.
•If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Congress Improves Homebuyer Tax Credit
•The credit amount is increased from $7500 to $8000.
•The credit continues to apply only to first-time homebuyers.
•Changes are effective for purchases on or after Jan 1, 2009 and before Dec 1, 2009.
•2009 purchasers can make an election to claim the credit on their 2008 tax return.
•The credit is refundable. The amount of the refund is computed as part of the 1040 tax return filing.
•The unpopular repayment feature of the 2008 version is eliminated for 2009 purchasers. Unfortunately, eligible 2008 purchasers will still be required to repay the credit.
•While the repayment is eliminated for 2009, any credit that is taken for 2009 will be recaptured and paid to the IRS from sales proceeds if the residence is sold within three years of the date of purchase.
•DC homebuyers are eligible for the $8000 credit (In 2008, DC homebuyers had a separate, nonrepayable $5000 tax credit available to them that had already been in effect for several years.)
•Purchasers who finance their 2009 purchases with funds from a state/local housing bond authority will be eligible for credit.

Mortice Limited – Interim Results

Mortice Limited – Interim Results

$8,000 Tax Credit (Spanish Version)

Question: How stupid are Republicans for not voting for the stimulus bill?

THe exact same people who vote for massive bank bailouts, corporate welfare, corporate tax breaks, offshore tax shelters, etc now don;t vote for a bill which will help AMericans. Infrastructure spending, health care spending, increasing pell grants, middle class tax breaks, expanding the child tax xredit, tax credits for college, investing in green technology and alternative energy, etc. THe Republican party has become the party of Rush Limbaugh, the college dropout oxycontin junkie, which is just sad and pathetic. tHey will lose big time in 2010 for being obstructionists to econmic grotwh.
Bob FDR lowered the unemployment rate from 25.2% in 1932 to 14.6% in 1940.
yeah they were in favor of smaller government voting for massive corproate socialism and bank bailouts.
James climate research can create jobs and improve our environment.

http://www.eriposte.com/economy/other/demovsrep.htm

Answer: More fellow Americans are stupid than you will ever imagine. They cried, rant and complained that Obama would bring this country down, worse than bush……they pouted, complained that we should stay on course with Bush/McCain policies…..hell, just yesterday Obama signed the equal-pay to women into law…..this in iteslf is a testimony of getting things done for our country once and for all.

Seriously, take a look around at all the cry-babies that dreaded watching Obama take the oath as our next president. He is doing a more for this country in his first week than bush did (in breaking more than 150 laws of the constitution) in his entire 8yr run.

2009 an eventful year in Norwood Young America

Editor’s note: This is a look at the first six months of 2009 around the NYA area. The last six months of the year will appear in next week’s Times.

Steve Chen

Question: Do you know just SOME of the educational plans Obama has?

Obama will make college affordable for all Americans by creating a new American Opportunity Tax Credit. This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university and make community college tuition completely free for most students. Obama will also ensure that the tax credit is available to families at the time of enrollment by using prior year’s tax data to deliver the credit when tuition is due.

Obama will promote new and innovative ways to increase teacher pay that are developed with teachers, not imposed on them. Districts will be able to design programs that reward accomplished educators who serve as a mentor to new teachers with a salary increase. Districts can reward teachers who work in underserved places like rural areas and inner cities.

Answer: it’s awesome!

and it’s a win-win situation. students will have to perform community service in order to get the $4,000 credit.

and it’s long overdue that teachers get the pay increases that they deserve.

obama is a visionary.

For Gov. Charlie Crist , a battered image and uncertain future

Charlie Crist’s final year as governor begins like no other: with perilous poll numbers, his optimism worn thin and his shell of political Teflon deeply scratched.

How Does Barack Obama Stack Up From the Dad Perspective?

Question: Injured Spouse Allocation, can tax credits for children be allocated to a spouse with no income?

My wife and I file jointly and our refund is being taken for offset. I owe money towards a federal student loan but would have a nice tax return because of the earned income credit and the child tax credit. Can the child tax credit be allocated to my wife on form 8379? I understand the income credit being tied to my income, but is the child tax credit tied to me as well?

Answer: all of the credits are tied to the income…and all of the income is yours so there is no reason/need to file for injured spouse/innocent spouse relief because she has no income to apply the relief to

Nevada Denied Money in Small Business Program

Billions of federal dollars have just been awarded to help low income communities across the nation. The New Markets Tax Credit program helps people start small businesses or keep their existing business afloat, but the lone Nevada request was turned down.

CottageLoft2