The Star-Telegram has an interesting article about the energy efficient tax credits offered by the government, but some caution is advised. There’s already an energy star tax incentive offered by the federal government which you can find out about at www.energystar.gov ; but now the U.S. Energy Department will distribute $300 million through state programs which in turn will be handed out to consumers who upgrade their home appliances to …

Tags: American Recovery and Reinvestment Act of 2009 Credit card Energy conservation Energy Star Tax credit United States

… from the American Recovery and Reinvestment Act stimulus package to make homes and buildings more energy-efficient. Of that amount, $327 million will go to help low-income Texans weatherize their homes. Anyone who does not make more than 200% of the federal poverty level would qualify for a $6,500 home weatherization subsidy. The White House also says that the energy efficient section of the stimulus alone will create 87,000 jobs.

The article said:

Aside from money for low-income …

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… since July. This week the average price for gasoline was $1.70 and the EIA report projects that energy for heating this winter will be one-fourth of last year’s prices. Families who use natural gas will probably pay on average about $860 for heat this winter compared to the $1,570 paid by the average family last year.

This is great news for families who have been hit with job losses, reduced income and rising debt. Seniors will especially benefit because many are suffering …

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… and March 31, 2010 those donations can be deducted from your taxes, but only if you itemize.

Energy efficiency credit – If you purchased an energy efficient air conditioner, furnace or water heater last year, you may be able to deduct 30 percent of the cost from your taxes.  There is a $1500 cap; but you can include the cost for labor and materials.  If you installed energy efficient window, insulation, sealant and radiant barriers you may also deduct 30 percent of the cost with a …

… accused of bankruptcy fraud have decried the change saying that if FBI agents refocus their energy on bigger fish it will create an open season environment for “debtors out to scam the system.”  That’s just simply ridiculous.  While there are real cases of bankruptcy fraud, usually committed by individuals and corporations who have a history littered with unethical dealings anyway, most debtors filing bankruptcy are doing so in a last ditch effort to save their financial …

… construction, for small-business tax cuts and for retrofitting millions of homes to make them more energy-efficient. He said he wanted to extend economic stimulus programs to keep unemployment insurance from expiring for millions of out-of-work Americans and to help laid-off workers keep their health insurance. He proposed an additional $250 apiece in stimulus spending for seniors and veterans and aid to state and local governments to discourage them from laying off teachers, police officers …

… are based on inflation, which is “officially” negative this year because of “lower” energy costs. But some advocates for seniors say that the formula used to determine increases are faulty because seniors use a large portion of their income to pay for medical care costs, especially prescriptions.

The article said:

“The lack of a cost of living increase triggers several provisions in the law. Among them, the amount of wages subject to Social Security payroll taxes will …

… that it is necessary. In the end, taking the bankruptcy means test increases the amount of time, energy and paperwork needed by legitimate debtors who seeking immediate bankruptcy protection.  The bankruptcy means test needs to be done away with and we need to return to a more sensible way of gauging a debtor’s ability to repay their debts.

… announced a new program that asked consumers to “turn in” their old refrigerators for a new “energy efficient” one, however, many people don’t have $1000 to pay for a new refrigerator so they end up putting it on their credit card.  That’s a mistake.  One credit card charge too many can become just another step towards bankruptcy if you are not careful. This is especially true if you don’t have a clear and realistic plan for repaying those charges (plus the interest).  Please …

… recovery.  While your partner assumes a chunk of the relief duties, you then have more emotional energy to dedicate to rebuilding your career.    The automakers didn’t get through their crisis alone.  The banks didn’t get through their crisis alone.  You don’t have to go through yours alone either.  Consider talking to a qualified bankruptcy attorney in your area about the benefits of bankruptcy today.

… Homeowners who are already delinquent, not paying taxes and in general struggling don’t have the energy to fight and our government officials are either overwhelmed or disinterested.  The fact of the matter is that the only sure way to stop a foreclosure from proceeding (with or without the proper paperwork) is to file bankruptcy.  Homeowners who work with a competent bankruptcy attorney find that the bankruptcy law puts the power back in their hands.

… lucrative contractors with vendors and suppliers. Already the retailer has implemented a “cash conservation” strategy to avoid bankruptcy, increase liquidity and counteract the credit restrictions forced on it by its suppliers. But as their sales decrease rapidly, bankruptcy may become inevitable.