The Federal Tax Credits Blog

Posts Tagged ‘real’

Question: does getting your drive way paved count for the home renovation tax credit?

I want to get my drive way paved and want to know if that counts for a tax credit refund of up to $1300 in Ontario?

Answer: Im not sure, but remember there is 1000 deductible, so you can only claim 300

Guelph Area Event Calendar

Here is a list of things to see and do in the region.

Phasing out government stimulus – Deloitte Canada

Question: can two persons buying home receive each $8000 home tax credit if they purchased it before the deadline?

Answer: No, it’s $8000 for the house, alloated between the two buyers in a reasonable fashion.

Waterloo Region Event Calendar

Here is a list of things to see and do in the region.

Mike Bigelow Real Estate Consultant – 21 days before 8000 tax credit expires.mp4

Question: can we avail CENVAT credit in current year on a machine received last year and depreciated ?

machines were received last year and depreciation availed as per income tax rules. No cenvat credit was availed last year but wish to take credit in the current year . Can we do so ?
As per cenvat rules both cenvat credit and depreciation cannot be availed. As we have already availed depriciation in the previous year, are we eligible to take cenvat credit in the current year? If so, what percent , 50% or 100%

Answer: Yes Cenvat credit can be availed in the current year

Republicans Balk at Obama Business Tax-Break Proposals They Backed in Past

In a letter to President Barack Obama seven months ago, 10 Republican senators lead by Utah’s Orrin Hatch urged him to use tax relief to bolster the U.S. economy and create jobs.

Peter Schiff CNBC 10-01-07

Question: regarding the 6,500 tax credit for homeowners.?

We purchased our home in July of 2006. We sold our previous home in which we lived for 7 years. Not sure if our current home would qualify, or if the purchase had to be this year.

Do we qualify for the 6,500 credit? We know we do under the income guidelines.

Thanks.

Answer: Let’s say you buy a house today, 12/2/2009. The lookback period for the 8 years is 12/2/2001 to 12/2/2009. To get 5 years, you need to see the previous house no earlier than 12/2/2006 *and* have rented for the intermediate 3 years.

You sold in July and you weren’t renting.
No, you do not qualify.

Tax-credit extension will help out some

July 08–MANATEE — A recent three-month extension of a homebuyer tax-credit deadline will help seal some delayed deals but otherwise will have little impact on the local housing market, area real-estate agents say.

$6500 Tax Credit for Current Homeowners

Question: $8000 tax credit for new home buyer?

I am not a first time home buyer but my wife is, She has never owned a property. If we purchase a home as our primary residence this year, will we still be qualified under the first time home buyer rule? Thanks

Answer: No, the IRS requires you both to be first time buyers. Filing seperately will not help, as bother were required to be first time buyers to qualify at all.

66 things to do in Southeast Texas this weekend

share: digg facebook twitter Looking for something to do this weekend? We can help.

Travis Update The 8000 Tax Credit for New Home Buyers