Archive for April, 2010
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April 26th, 2010 Categories: Dripping Springs Area News
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TOP 10 TAX CREDITS!!!
April 25th, 2010 Categories: Austin Real Estate News, Dripping Springs Area News
Although the Home Buyers Tax Credits expire on April 30, 2010, there are still other tax credits out there…
1. Federal Rehabilitation Tax Credit - The rehabilitation credit applies to costs you incur for rehabilitation and reconstruction of certain buildings. Rehabilitation includes renovation, restoration, and reconstruction. It does not include enlargement or new construction.
2. First Time Home Buyer Tax Credit – This expires April 30, 2010. Up to $8,000 (10% of the purchase price, up to a maximum of $8,000). As long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010, to close.
3. Move-up Home Buyer Tax Credit – This expires April 30, 2010. Up to $6,500 (10% of the purchase price, up to a maximum of $6,500) As long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010, to close.
4. Energy Star Tax Credit* - Must be an existing home & your principal residence. New construction and rentals do not qualify. 30% of cost up to $1,500. Expires: December 31, 2010. Includes Biomass Stoves, Heating, Ventilating, Air Conditioning (HVAC), Insulation & Weather stripping (Spray foam in a can designed to air seal, Caulk designed to air seal, House wrap), Roofs (Metal & Asphalt), Water Heaters (non-solar), Windows & Doors.
5. Energy Star Tax Credit* - Existing homes & new construction qualify. Both principal residences and second homes qualify. Rentals do not qualify. 30% of cost with no upper limit. Expires: December 31, 2016. Includes Geothermal Heat Pumps, Small Wind Turbines (Residential), Solar Energy Systems.
6. Energy Star Tax Credit* - Existing homes & new construction qualify. Must be your principal residence. Rentals and second homes do not qualify. 30% of the cost, up to $500 per .5 kW of power capacity. Expires: December 31, 2016. Fuel Cells (Residential Fuel Cell and Microturbine System).
7. Low Income Housing Tax Credit - Low Income Housing Tax Credit (LIHTC) reduces the tax liability of property owners and investors who agree to provide low-income housing for up to 40 years.
8. Real Estate Tax Credit for Persons Age 65 and Older - If you are age 65 or older on the last day of the tax year, you are allowed a higher standard deduction for that year.
9. Property Tax Deduction for Non-Itemizers - A new law passed in 2008 lets you increase your standard deduction by the amount of real property tax you could have claimed if you did itemize — up to $500 ($1,000 on a joint return).
10. State-specific Tax Credits – State Incentives for Renewables and Efficiency.
* Federal Tax Credits for Consumer Energy Efficiency http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
This blog was brought to you by Jeremy K. Frost ~ REALTOR
“For ALL your Real Estate Needs”
Jeremy@FrostFinds.com 512-636-2746
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Austin bidding for Google’s Internet pilot
April 19th, 2010 Categories: Austin Area News
Austin Business Journal
Austin entered the race to become Google Inc.’s first test city for a super-fast fiber Internet network.
City of Austin officials announced it submitted an application for the fiber communities program; a project meant to test a bandwidth network “100 times faster than traditional consumer service.” The city said it has partnered with the Community Technology and Telecommunications Commission, state representatives, The University of Texas and Travis County in the application.
The city launched a promotional site regarding the effort, which is available here. Officials are also asking residents to sign up for related Twitter and Facebook streams and submit reasons why Austin should be considered. The Twitter profile is located here, and the Facebook fan page here.
Round Rock has also applied and is surveying residents as part of the process.
Google will announce test sites, which could be one or more communities, for the new high-speed service and broadband infrastructure later this year.
This blog was brought to you by Jeremy K. Frost ~ REALTOR
“For ALL your Real Estate Needs”
Jeremy@FrostFinds.com 512-636-2746
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