The Federal Tax Credits Blog

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Question: Should the IRS include gym memberships as a tax credit?

If gastric bypass, specialty diets and other weight management tools are tax deductible if ordered by a physician, should the IRS allow a tax credit as an incentive to curb the American obesity problem?

Answer: I hope some day they do pass a bill to allow the gym fees to be deductable. Fortunately until then if you happen to be lucky and have a good health insurance policy some insurance companies will help by paying a % for gym memberships already. Unfortunately that may only be true for those who are pronounced overweight by a doctor and not something that’s rewarded to people who are already maintaining a healthy lifestyle. Here’s to hoping that the IRS will one day come to their senses and realize that may be what it takes to make this country healthier and live longer.

Tuesday’s biggest gaining and declining stocks

TEL AVIV (MarketWatch) — Among the shares expected to see active trade in Tuesday’s session are those of the major U.S. brokerages as well as AIG, Fairchild Semiconductor, Imperial Sugar, and Vivus. …

John McCain: Town Hall 07/17/08

Question: How many people have put their “prime” homes up for sale and have received “0″offers?

My neighbors homes are in stable area:Schools are award winners.The police & fire protection rated highest in our midwestern State: Close to outstanding shopping, medical, and transportation. Everyone wants to live here!
So I thought.
These homes are the newest and best, 3-5 years old, and are bargain priced in the 300-500,000. range. Many are telling me that they got into the homes with little down, and flexible/fixed loans which had premiums go up hundreds as the taxes, insurance, and other “adjustments” to numerous to mention went well above their earning powers, so they are wanting out.
Some are selling off other assets to keep up, others are using credit cards to make ends meet.
Real estate agents tell them the market is slow. Some lower the asking price below what they had to pay for them.
Still no interested buyers.
Foreclosure simply means an empty home bought by a foreign subsidiary.The morgage holder makes $$ but shows a loss, legally!
What’s next?

Answer: Could be a slow market in your area. What are employment conditions like?

Maybe the house you’re talking about is priced too high.

(AFX UK Focus) 2009-12-29 04:38 Glance-PRESS DIGEST – Financial Times – Dec 29

Financial Times

2009 Affordable Housing Vision Awards: Lisa Alberghini

Loans against paychecks are now less painful since Barack Obama ascended to the US presidency.
Obama as a matter of principle is very much in favor of cash loans and has gone out of his way to make it easier for the person seeking this type of loan. Earlier, people who took such loans were hit by sky-high interest rates and repaying the amount with the interest tacked on caused people to slide deeper into debt. This made the whole matter of taking out cash advance loans to meet with an emergency or other such reasons, redundant. People tend to forget once you take a loan you have to pay it back. Once these loans are availed of, the ball is firmly in the lender’s court.
Obama now has made matters easier for the consumer by placing an interest cap of 36 percent on cash advance loans. Loan-seekers have been further helped that the president has encouraged the extension of the time limit should a person be unable to repay in the given period of time. Interest rates sometimes shoot up to the thousands of percentage points driving those who had taken cash advance loans to the verge of despair.
Obama’s siding with the consumer has meant a lot of shady operators have fallen off the payday loan tree. Many lenders literally earned their living from the high interest rates gouged from the hapless people who happened to take out a loan in a time of crisis.
Banks, too, also have stepped back from cash advance loans as the interest rate cap has made it unfeasible to offer the service. Also, the paperwork involved just does not make offering cash advance loans economical. Interest on loans is one of the main sources of income for financial institutions and the 36 percent proposed by Barack Obama simply did not make the exercise worth it.
If you are in need of fast cash it would be wise to use a multiple lender website. These websites do not issue payday loans themselves but rather they make the payday loan companies compete over your business. You can fill out one online application and instantly get multiple quotes from various lenders. They are free to use and the link below will take you to a top performing site.

Easy Cash Advances (http://www.myeasycashadvance.com/).

Wisconsin Making CDL Changes to Meet Federal Regulations

Wisconsin is making several changes to its commercial driver license program, after the Federal Motor Carrier Safety Administration found a number of discrepancies between Wisconsin statutes and federal regulations.

Federal First Time Buyer Tax Credit

Question: is there a tax credit for individuals that broughyt a new car in 2006?

Answer: Yes there is if you bought a hybrid vehicle brand new. The max deduction for the hybrid is 2000 dollars. The other deduction is if you itemize, you can take the sales tax off on your Schedule A.

Local auto dealers: Tax break that ends today helped drive sales

Today is the last day to buy a new vehicle and deduct sales taxes from your 2009 federal income-tax return. The federal program, local dealers say, has helped boost sales of new cars and trucks at Richmondarea dealerships in the remaining days of the year. “About 80 percent of the people who come in already know about it, but there is no doubt it’s helped,“ said George Mastermaker, general sales …

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Garmin nüvi 265W/265WT 4.3-Inch Widescreen Bluetooth Portable GPS Navigator with Traffic $130.00 …

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New Car Tax Credit Video – NewCars.com Quick-Tips