All Posts Tagged With: "tax"
Should We Tax Our Vets?
The IRS has created an excellent Web page — Tax Information for Members of the U.S. Armed Forces — which explains tax issues for those now on active duty. There are a huge number of rules, most of which greatly benefit those now fighting overseas.
But when you look at the forms, deductions, exceptions, alternatives, [...]
First-Time Home Buyer Credit Still On For Vets
While the tax credit for first-time home buyers and sellers largely ended in April, the credit actually continues for active-duty military personnel until April 30, 2011, something that could be important for VA loan borrowers and veteran sellers.
The $8,000 tax credit (along with its $6,500 companion credit for existing homeowners) spurred an uptick in sales [...]
April 15th: The Right Way To Figure Taxes
With April 15 now upon us a question lingers: Isn’t there a better way to deal with this annual effort to find receipts, stubs and numbers that balance?
My interest in taxes is both economic and genetic. My late father was a CPA for more than 60 years and at age 90 or thereabouts was renowned [...]
A Basic Guide To Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th.
But for those with real estate the load is made lighter by tax rules [...]
Labor Day, 2009
It used to be that a basic American value was a fair day’s wages for a fair day’s work. Over time this standard has been eroded. When I was growing up an individual with a high school degree could support a family, today it typically takes two adults to support a family and even [...]
7Sep2009 | Peter G. Miller | 0 comments | Continued
Making The First-Time Buyer Tax Credit Better — Or Worse?
There is now a new effort on Capitol Hill to increase the first-time buyer credit from $8,000 to $15,000. Under S1230, first-time buyers would be able to get a credit equal to as much as 10 percent of the purchase price, up to $15,000.
Not only that, but the time the home would have to be [...]
FHA — Yes (Sort Of) To No Money Down
HUD has come out with new regulations which will allow borrowers to get FHA financing with no money down — but only in very limited circumstances.
On May 11th HUD said first-time buyers could use their $8,000 tax credit to fund their FHA downpayment. In effect, borrowers would get a short-term bridge loan that would [...]
2009 Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th.
But for those with real estate the load is made lighter by tax rules [...]
Uncle Sam’s $8,000 For First Time Home Buyers
The government is hoping if you don’t now own a home that you’ll make the logical choice and buy one this year. If you do, there’s an $8,000 credit from Uncle Sam available to help you out.
Last year the government announced that if you were a first time buyer and bought a home that you [...]
Should There Be a “Furnace Guzzler” Tax?
For a very long the nation has been divided by a fundamental question: What do we do about large houses?
Truth is, we love ‘em. While part of the population endorses the “small is beautiful” approach, huge numbers of folks adore elephantine houses.
Like our meals, today’s homes have been super-sized. The Census Bureau reports [...]
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