Posted 7 hours 7 min ago by Xin Lu
A couple months ago I wrote about the pros and cons of extending and expanding the popular first time homebuyer tax credit which was due to expire on November 30th, 2009. I wrote that there was a good chance that Congress would extend the credit regardless of the costs. Sure enough, this week Congress has approved an extension and expansion of the credit. Here are some details on the changes.
Posted October 24, 2009 - 07:00 by Marla Walters
Probably due to the fact that my monthly health insurance premiums rose dramatically this year, and also because I am about to take a state-mandated 5% pay cut, my ears really perk up when I hear anything that might possibly cost me more money. But would a value-added tax do that? And what is it? I thought Wise Bread readers might want to know, too.
Posted October 12, 2009 - 05:00 by Marla Walters
Paying taxes is bad enough. Could you be saving money on the preparation fees, too? I asked my C.P.A. to give a few tips.
Posted September 22, 2009 - 05:00 by Kate Luther
Thinking of settling that debt with your credit card companies? You might want to think again. While debt settlement offers can be very attractive, there's often a nasty little surprise when tax time rolls around.
Posted September 18, 2009 - 06:49 by Xin Lu
The $8000 first time homebuyer's tax credit is set to expire on November 30th. This means that those who want to take advantage of this refundable credit have only a couple months left to close on their home purchases. Since it could take 30 to 60 days to close on a home, the deals must be made soon. Now there are talks in Congress and the Obama administration about expanding and extending this tax credit. Here are some arguments both for and against this decision.
Posted September 15, 2009 - 09:00 by Xin Lu
I.O.U.S.A. is a documentary film released in late 2008 by the Peter G. Peterson Foundation that focuses on the national debt of the United States. I finally watched it this weekend and I am glad that I did. Although this review is one year late, I think the topics addressed in I.O.U.S.A. are even more important now for the Americans who despise debt.
Posted June 18, 2009 - 23:09 by Xin Lu
A few months ago I wrote about several car buying incentives that were floating around. This was before the bankruptcy of Chrysler and GM and there was a rumor going around that the government would push consumers into buying new cars with a trade in program. Now it is official that a "cash for clunkers" bill has passed by both the Senate and the House. This $1 billion program was attached to the $106 billion war spending bill and offers vouchers to consumers who trade in their gas guzzlers. Here are some details on the program.
Posted June 9, 2009 - 20:38 by Xin Lu
As part of the Obama stimulus plan passed in January, first time home buyers in 2009 are entitled to a tax credit of up to $8000 that they do not have to repay. This tax credit was supposed to be given to the taxpayer after they file their 2009 taxes in 2010, but it seems that a new set of FHA guidelines is allowing many to take the money during closing. Here are some of the details.
Posted May 21, 2009 - 13:43 by Margaret Garcia-Couoh
Live in California? Fed up with the budget crisis? If you could whisper a suggestion in your state reps ear or our illustrious governor, what would you suggest?
Posted May 6, 2009 - 15:07 by Xin Lu
I just read a very interesting article by an American expat named Russell Shorto in the Netherlands titled "Going Dutch - How I Learned to Love the European Welfare State". The author describes his shock at a 52% top income tax bracket and his eventual acceptance of the social benefits of living amongst the Dutch. Here are some highlights of his experience and my thoughts on the subject.
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