Posted on February - 16 - 2012
On February 7, Maryland’s Office of Legislative Audits released a report on the state’s film production incentives program, finding several instances of faulty documentation by firms applying for tax credits.
The Department of Business and Economic Development (DBED), which gives these credits to production companies for qualified expenditures on startup and project costs, approved at least 8 applications out of the 10 firms audited without documentation. The total amount of tax credits for these 8 projects was $34 million, out of the $65.8 million for all 17 projects approved between FY2008 and 2010. Although companies are required to also provide information about the number of people employed on their projects, 4 of the 10 audited failed to give even that information.
Auditors found further problems in their inspection of the Department’s program for investments in a venture fund.
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Posted on February - 12 - 2012
No cost home loan gives a home buyer an extra leverage by sparing costs like appraisal fees document fees, points (a percentage of the loan which often a borrower is required to pay up front). No cost home loans are popular because of they provide relief and leverage to first time home buyers to get their mortgage set up. No cost home loans provide the opportunity to get a house without using up your savings.
Drawback of No Cost Home Loan
There is only one drawback on no cost home loans. The buyer will have to pay high interest rates through out the term in order to save money on no cost home loan. Only one drawback but on whole no cost home loans are really good for first time home buyers.
Using No Cost Home Loan
Why to borrow no cost home loans?
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Posted on February - 10 - 2012
I am a retired school teacher from Utah. I currently live in Oregon. Must I claim the income from my Utah pension as income when filing my Oregon income tax?
Answer: Steve – Thank you for your question.
My training and experience is in federal tax, so I am going to have to refer you the Oregon Department of Revenue for assistance. You can contact them through their web site, www.oregon.gov/DOR.
Need tax help? Send in your tax questions to Richard Panick, IRS media relations specialist.?
Posted on February - 09 - 2012
If you are still invested in money funds, Bernanke’s announcement that the Fed plans on keeping interest rates the same for the foreseeable future should help spur you into action. With returns near 0%, if you keep money in a money fund, you are simply losing buying power everyday to inflation. Tim Iacono from takes a closer look at money fund investments in his blog post below.
More fallout from last weeks Fed announcement of a one-and-a-half year extension to their freakishly low interest rate forecast comes via this MarketWatch about the dim prospects of money market returns between now and sometime in 2015 (or later).
Money funds are designed to be ultra-safe cash-equivalents, and traditionally they provided a bit more return than bank certificates of deposit or savings accounts.
But for about 18 months now, nearly two-thirds of all money funds have yielded under 0.01%.
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