The American form of government

July 3, 2009

GradeGov.com

July 1, 2009

GradeGov In essence, you register at the site (FREE) and then, each day, you can give a grade (A,B,C,D,or F) to any US Senator or Representative; they, in turn, are sent your “grades” and any comments that you choose to add about why you graded the way that you did. You can also see where senators/representatives rank nationally.

On July 4th, the Congress will be sent its annual “report card;” this report card will be sent to every congressperson telling him/her how he/she was graded by the American people via this site.

The website is: www.gradegov.com

Happy grading!

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Link Dump

June 30, 2009

Taking Apart the $819 billion Stimulus Package
Read 1,000’s of books online
44 Presidents of the United States (Few weird looking dudes)
Great Photographer out of Ohio
World Clock
Noah’s Ark Replica Completed in the Netherlands.

Last thought. The First Woman on the Moon
Alice

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Tax Credits For Energy Efficient Improvements

June 27, 2009

According to the American Recovery and Reinvestment Act of 2009, tax credits for improvements to energy-efficient existing homes will be extended through 2010. Under current law, individuals are allowed a tax credit equal to 10% of the amount paid or incurred by the taxpayer for qualified energy efficient improvements installed during the taxable year. This tax credit is capped at $50 for any advanced main air circulating fan, $150 for any qualified natural gas, propane, oil furnace or hot water boiler, and $300 for any item of energy-efficient building property. For 2009 and 2010, the bill would increase the amount of the tax credit to 30%. The bill would also eliminate the property-by property dollar caps on this tax credit and provide aggregate $1,500 cap on all property qualifying for the credit.

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First-time Homebuyer’s Credit

June 26, 2009

The 2008 Housing Act adds a new refundable tax credit for “first-time homebuyers”.

- Credit is the lesser of $7,500 ($3,750 for MFS) or 10% of the home’s purchase price.
- Available for principle residences purchased after April 8, 2008, and before December 1, 2009. (If taxpayer constructs the home, he/she must first occupy between these dates.)
- The credit is computed on Form 5405 and carried to line 69 of Form 1040.

A “first-time homebuyer” is an individual who had no present ownership interest in a principal residence during the three-year period ending in the date of the purchase of the principal residence to which the credit applies. If the individual is married, neither the individual nor his/her spouse may have had present ownership interest in a principal residence during that three-year period.

For more information about the 2008 First-time Homebuyer’s credit, consult your tax adviser. Additionally, President Obama’s Stimulus Bill creates and $8,000 credit for 2009.

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