The Federal Tax Credits Blog

Posts Tagged ‘tax’

Question: Can I get American Oppurtunity Tax Credit even if loans to pay for school were under my parents?

My parents don’t file taxes because they are retired and only recieve social security. I went to school full time I recieved grants and scolarships for part of my tuition and the rest of the tuition was paid for with plus parents loans but since they don’t file taxes do i still report this loans on my taxes. how do i do this?

Answer: universities.atwebpages.com – it provides some tips about applying to US federal and state grants for college students.

School district OKs budget

The Hemet Unified School District’s governing board Tuesday approved a $27.6 million budget for the 2011-12 school year that sees expenses outpacing revenues — a change over the previous year, when the school district had a surplus of $3.2 million.

American Educational SR-1184 Living Mathematically Activity Guide (4 Piece Set) $49.86 Complete set of 4 Workbooks in the “Living Mathematically” Series developed by Mike Nerbovig to demonstrate the relevance and extent of mathematics in our everyday lives. Published in 2003. Descriptions of the 4 Workbooks in this set are: 1) Living Mathematically: PROBABILITY IN OUR LIVES = Probability is a part of our everyday lives. From flipping a coin, to gambling, playing the lotto, to game…

Datexx DB-413 Checkbook Calculator $22.99 DB-413 Features: -Clock, calendar, checkbook organizer all in one unit. -Current date and time always at your fingertips. -Monitor 3 accounts-tracks back 20 entries. -Heavy-duty vinyl wallet safely stores credit cards, receipts and more. -Built-in sales tax checker prevents costly rip-offs. -Dimensions: 4″ – 4.1″ H x 7.2″ – 7.3″ W x 0.7″ – 0.8″ D….

What Your CPA Isn’t Telling You: Life-changing Tax Strategies $11.69 This is a powerful story woven around one theme—TAX PLANNING CAN CHANGE YOUR LIFE Tackling the fundamental question asked by all taxpayers – How can I save on taxes? — attorney and CPA Mark J. Kohler empowers you to dismiss standard CPA viewpoints like your tax payment is what it is and you just make too much money. Simplified through the mastery of storytelling, Kohler invites you to immers…

Lower Your Taxes – Big Time 2011-2012 4/E $10.76 Completely revised and updated—the must-have resource for saving thousands of dollars at tax time Taxes aren’t just a nuisance; they’re fast becoming the single biggest expense for the typical American household. Completely revised and expanded, Lower Your Taxes—Big Time! has everything taxpayers need to know about saving money on April 15—and every other day of the year. Sandy Botkin, a…

Arlington Christian School Georgia Tax Redirect Video

Question: In trying to save sales tax with a trade in to a dealer, matter which state the trade in car was bought in?

Originally bought a new car (4 seater…..) in Kansas, we might move to Colorado and have a third child on the way. So already (not even 1 year since we bought the new car….) we need to start looking for a 3rd row seat lifeless box. We paid tons in sales tax for the current car and assuming it will be best to trade in for our “lifeless box” to get the sales tax savings. Do Colorado dealers (or state of co) care that the car I will be trading in was bought in Kansas with Kansas sales tax paid and still give me my CO sales tax credit for the car I’m trading in. Make sense? Haven’t really been able to find anything specifically on this question and just needing to make sure we don’t need to go “lifeless box” shopping in Kansas before we move! Thanks.

Answer: It doesn’t matter. You save sales tax in the jurisdiction in which you buy the car. Assume you buy the car for $40,000 and your trade in is valued at 30,000 (wishful thinking probably) you’ll pay sales tax on the difference of $10,000.

By the way, I too bought a “lifeless box” of a minivan two years ago. We bought the Honda Odyssey and I can tell you I’m a convert. I’m just trying to think of an excuse for a new Odyssey once my kids are grown. We love the thing! With a set of Pirelli Ice and Snow tires our van has no problems in Colorado either! I drive conservatively and get 30 mpg on the highway and 24 mpg in town. Not bad for a lifeless box (with DVD, awesome sound system, navigation, four leather captain’s chairs, a real third row and car-like handling).

Good luck on your move.

Hometown Happenings 0709-10

Community happenings…

Autonet Mobile KT-ANMRTR-04 CarFi Router $289.99 CarFi is the latest Wi-Fi hotspot from Autonet Mobile. It is smaller and sleeker, and even sits on a docking station, making it easy to transfer from the work car to the family car. It’s a great way to have Internet in all your vehicles without adding an additional subscription. All you need to do is add a docking station in all of your vehicles so you can easily transfer CarFi to the car, boat, o…

Sony Playstation Network Card – $50 $57.95 The Sony Playstation Network Card can be used to download games, movies, and more from the Playstation Store. In the past, a credit card was required for purchases from the Playstation Store. With the new Playstation Network Cards, users can shop the Playstation Store without needing a credit card. These cards can be used in the Playstation Store on both the PC and the online browser of the Playst…

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

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

Fayetteville AR Sales Tax Credit Used Car Ford Mustang

Question: Anyone know the details regarding the $8000 home Buyers Tax Credit ?

Here is my situation:

I bought my first ever home in July 2008
Refinanced in Feb 2009
I made 83K in 2008
Married with 2 children
Wife doesn’t work

Based on my income and purchase time do I qualify for this proposed tax credit?
How do I claim it?
Do I have to repay it back to the Gov’t?

Thanks in advance

Answer: The most recent ‘tax credit’ contained in the very recent stimulus bill has not been fully revealed, in terms of requirements and time frames involved. You certainly should qualify for the previously announced $7500 credit, which is actually an interest free loan to be repaid over fifteen years.

It’s rather doubtful that the new version will extend to 2008 versions. The bill is intended to stimulate the housing market. Giving you a credit for last year’s purchase doesn’t stimulate much of anything.

Tax Season for Hoboken Real Estate Buyers

Hometownstations.com-WLIO- Lima, OH News Weather SportsBlack economic gains reversed in Great Recession

BALTIMORE (AP) – Growing up black in the segregated 1960s, Deborah Goldring slept two to a bed, got evicted from apartment after apartment, and watched her stepfather climb utility poles to turn their disconnected lights back on.

Car Tax Credit

Question: Can I get the 2009 first time Home Owners Tax Credit if i have a cosigner?

I live with my fiance who owns a condo, and before we get married we want to buy a house together. My fiance has excellent credit, and i have good credit. Can i have her co-sign on a mortage (so that we can get a better interest rate) and still be able to recieve the 2009 First Time home owner tax credit? She does own her condo!

Answer: No – you will be considered co-owners and by her already owning a primary residence means that you will no longer be first-time home buyers. The only way you can qualify is if you can get the mortgage by yourself and do not put her on the title.

Blacks’ economic gains wiped out in downturn

Job loss has knocked some blacks out of the middle class and back into poverty. Some even see a historic reversal of hard-won economic gains that took black people decades to achieve.

TurboTax Home & Business Federal + State + Federal efile 2009 $42.89 TURBOTAX HOME & BUSINESS WITH…

Feels like the First Time, but then what? As the new homebuyer tax credit ends, real estate professionals are mixed on whether the market has bounce.([who owns] COLORADO): An article from: ColoradoBiz $9.95 This digital document is an article from ColoradoBiz, published by Wiesner Publications, Inc. on May 1, 2010. The length of the article is 1465 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Feels like the First Time, but then wha…

Low-Income Housing Tax Credit Handbook, 2009 ed. Detailed guidance through the complex body of laws, regulations, and judicial decisions concerning the low-income tax credit (LIHC). Analyzes the credit’s history, including prior law, technical corrections, and the Tax Reform Act of 1986. Discusses who can use the credit, complex tax aspects, and the interaction of the credit with securities laws. Examines property management aspects of the LIHC,…

Electing to accelerate AMT and research credits in lieu of bonus depreciation.(alternative minimum tax): An article from: The Tax Adviser $9.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on November 1, 2009. The length of the article is 1402 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Electing to accelerate AMT an…

Housing Tax Credit