The Federal Tax Credits Blog

Posts Tagged ‘tax’

Question: Auto Loan with bad credit?

When Tax Season 2010 rolls around,I want to buy a used car.But my credit is somewhat bad.Not horrible,but not great.I am paying more than my monthly due on my credit card bill every month,and I haven’t missed a payment in more than a year.
I asked some friends about Auto Loans,and they said I most likely wont be approved for one without a Co-Signer.The problem is my Dad never established credit.He grew up a hippie,and he still is,so hes never gotten a credit card,or bought a house,or a new car.So he can’t co-sign my auto loan.
So how do i buy a used car from a dealership or a private seller,without an auto loan?

Answer: Tessa, Get an online car loan quote. http://www.americaschoicetoday.com/Auto-Loans.html The automated form will let you know if you can be approved. It’s free and you can get an answer in minutes.

Looking ahead to some big stories for 2010 in Genesee County

Ryan Garza/The Flint JournalThe turbo-charged engine that will be used for the Chevrolet Cruze sits on display as the Chevrolet Volt rests in the background before the start of a press conference at Flint Engine South in August.GENESEE COUNTY, Michigan…

Quicken Premier 2011 – [Old Version] $31.99 The Intuit Quicken 2011 Premier Software organizes all your accounts – bank, credit card, investments, loans, retirement accounts – in one place. Intuit Quicken 2011 Premier Software helps you simplify and organize your finances so you can save more,, maximize investments and grow your net worth….

Quicken Rental Property Manager 2011 – [Old Version] $59.96 It shows how your rental properties are doing and where you’re spending at a glance. The Intuit Quicken Rental Property Manager 2011 Software identifies tax-deductible rental property expenses so you can maximize your tax deductions. It shows which rents have been paid so you know who owes you money and stores lease terms, rental rates and security deposits for each tenant….

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

Current Allowable Automobile Mileage Tax Deduction 2009, 2010

Are you having difficulty getting your mortgage servicer to work with you on a Making Home Affordable (MHA) loan modification? The below list of 37 mortgage servicers have committed by signed contract to this program. In addition, all servicers for mortgage loans owned by Fannie Mae and Freddie Mac are required to participate! If your home is in Illinois and you want to investigate whether you qualify for the home loan equivalent of “Cash for Clunkers” then contact a real estate attorney or use the free online evaluation at illinoismortgagemods.com

The MHA program is the first real loan modification program that is making worthwhile modifications whereby homeowners come out of it with a payment they can afford. These modifications are proving to have a much lower re-default rate than previous half-hearted efforts that amounted to not much more than forbearance plans.

Those stingy initial loss mitigation efforts resulted in such high re-default rates that the notion of continuing to modify mortgages at all became in serious doubt. Thankfully, the MHA program came along with a balanced view of lender, investor and finally HOMEOWNER interest in mind. Examine the list of 37 servicers we know are participating.

Your mortgage may also qualify if Fannie or Freddie own it. American Home Mortgage Servicing, Aurora Loan Services, Bank of America, Bayview Loan Servicing, CCO Mortgage Services, Chase Financial, CitiMortgage, Citizens First Wholesale Mortgage, Countrywide Home Loans, Farmers State Bank, First Bank, First Federal Savings and Loan, GMAC mortgage, Green Tree Servicing, Home Loan Services, IBM Southeast Employees Federal Credit Union, Lake National Bank, Mission Federal Credit Union, MorEquity, Mortgage Center, National City Bank, Nationstar Mortgage, Ocwen Financial Corp, PNC Bank, Purdue Employees Federal Credit Union, RG Mortgage Corp, Residential Credit Solutions, Saxon Mortgage Services, Select Portfolio Servicing, ShoreBank, Technology Credit Union, Wachovia Mortgage, Wachovia Bank, Wells Fargo, Wescom Central Credit Union, Wilshire Credit Corp.

Home prices up, but not in Sioux Falls

Home prices rose nationally for the fifth consecutive month in October, but the Sioux Falls area didn’t share in the improvement. The Standard & Poor’s/Case-Shiller home price index released Tuesday edged up 0.4 percent to a seasonally adjusted reading of 145.36 in October from September. The index was off 7.3 percent from October last year, almost matching expectations of economists surveyed by …

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USAutomtic 020345 Medium 300 Solar Charged Automatic Gate Opener Double Gate Deluxe Kit $1,497.77 The Sentry 300 Solar Charged Automatic Gate Opener Double Gate Deluxe Kit contains the first high quality commercial grade Do it Yourself dual gate opener. The universal mounting brackets will allow for push to open or pull to open installation easily bolt on to most existing gates. The linear actuator provides 400 lbs of thrust and has a compression rating of 1000 lbs. Open or close time is typic…

USAutomtic 020335 Medium 300 Solar Charged Automatic Gate Opener Double Gate Basic Kit $1,369.89 The Sentry 300 Solar Charged Automatic Gate Opener Double Gate Basic Kit contains the first high quality commercial grade Do it Yourself dual gate opener. The universal mounting brackets will allow for push to open or pull to open installation easily bolt on to most existing gates. The linear actuator provides 400 lbs of thrust and has a compression rating of 1000 lbs. Open or close time is typica…

Scott Robinson from Apple HVAC discusses tax credits

IRS will begin regulation of paid tax preparers

Paid tax preparers will have to register with the federal government, pass competency tests and follow ethical standards under rules that will take effect sometime after the current filing season, Internal Revenue Service…

TurboTax Deluxe Federal + E-file + State 2011 for PC [Download] $29.22 TurboTax Deluxe: Guides you step-by-step to maximize your deductions…

TurboTax Deluxe Federal + e-File + State 2010 – [Old Version] $5.75 TurboTax Deluxe was designed to make it easy for you to get the biggest tax refund possible, checking for accuracy and uncovering 350+ deductions and credits. Includes free Federal Efile and TurboTax State for completing your state taxes. Everything you need to do your taxes with ease. Finds All Tax Deductions and Credits You Deserve to Get Your Biggest Refund Maximizes Your Tax Deductions …

TurboTax Home & Business Federal + e-File + State 2010 – [Old Version] $7.99 TurboTax Home & Business was designed to help you take full advantage of your personal and business deductions so you get the biggest tax refund possible, double-checking for accuracy and identifying missing deductions and credits. Includes free Federal E-File. Everything you need to easily do your personal and business taxes. Guides you Step by Step through Self-Employment Income, Deductions,…

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

2009-11-8 LBNH Boland Maloney (Production Facility)

Question: Is there a 2008 tax credit for homeowners who lost their home in foreclosure?

I was watching the news and heard there is a tax credit for homeowners who lost their home during 2008…..I am looking for additional information. Thanks

Answer: no. There is no credit. But there may be tax consequences. I strongly suggest you see a tax professional this year.

Obama, Economy, War, Swine Flu, Iran Election Crack Alamanac’s Top 10 News Topics of 2009

Here are The World Almanac and Book of Facts Top Ten News Topics of 2009: 1. Obama Presidency Begins. With the U.S. at war in Iraq and Afghanistan, and facing its worst economic crisis since…

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Foreclosures & $8,000 Tax Credit

Question: Please help: A question about the 8000 tax credit for first-time home buyer?

I sold my townhome in CT in Oct 2006 and have not owned any main home after that. I am going to buy/close another home in PA within the next 2-3 weeks. Please help me figure out when I should close my new home in order to qualify for the $8000 rebate. Here are three forms related to my sales in 2006.

(1) On Oct 24, 2006, both the buyers, the settlement agent, and my attorney signed on the HUD-1 Settlement Statement form.
(2) On Nov 9, 2006, the bank (mortgage lender) sent the “Final Escrow Account Disclosure” to me.
(3) On Nov 13, 2006, the town clerk received a letter from the bank, “Mortgage Release, Satisfaction, and Discharge”.

I am confused by which of three above dates I should follow.

Thanks a lot.

Answer: This means you did not close until Nov 13,

So,, in order to qualify for the credit you need to close your new purchase Between nov 24 and nov 30

Economist Cautiously Sees ‘First Steps Back’ For Housing Market

The “American Dream” has turned into a nightmare for many homeowners this year. But there have been some fleeting signs of improvement in recent months. Will that turn into a trend in 2010?

Unplugged: Tax Credit For All Homebuyers?