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Tax Credits

BUSINESS
October 5, 2010 | By Duke Helfand, Los Angeles Times
An estimated 3.5 million Californians would be eligible for federal tax credits to slash the cost of their health coverage when they begin buying policies through a new statewide insurance marketplace in 2014, a study released Tuesday found. Under the nation's healthcare overhaul, tax credits will be available to low- and middle-income people once insurers begin selling policies through state-based insurance exchanges like the one being set up in California. The federal law requires most Americans to have insurance starting in 2014.
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BUSINESS
December 27, 2009 | By Lew Sichelman
Home buyers hoping to take advantage of a new or extended tax credit should not procrastinate: This third bite at the apple will be the last. Proponents of the $8,000 credit for first-time buyers and the $6,500 credit for move-up buyers made it clear during the debate on Capitol Hill that the benefits would not be renewed when they expire. And a lobbyist for the National Assn. of Realtors confirmed that at the group's annual convention last month. Lawmakers "made us promise practically in blood that we would not come back" for another extension, Linda Goold, the Realtor group's director of tax policy, told her members.
BUSINESS
June 8, 1999 | BOB HOWARD
Federal income tax credits, which can amount to 90% of the cost of building or rehabilitating an apartment complex, have come to represent one of the few low-cost sources of financing for both private and nonprofit developers of affordable housing. Tax-credit financing works like this: If a developer building a $10-million apartment complex qualifies for the maximum $9 million in tax credits, the developer can then sell the tax credits to a corporation at a discount--say, $7 million.
BUSINESS
February 28, 2010 | Kathy M. Kristof, Personal Finance
I wasn't thinking about tax credits when my 12-year-old water heater went on the fritz last fall. I was thinking about a hot shower. I called the plumber. A few sticky days and $1,000 later, I had hot water. Now, like millions of other consumers, I faced a tax challenge. The federal government decided to reward taxpayers who made their homes more energy efficient in 2009 by creating a series of tax credits for those who replaced furnaces, water heaters, air conditioners, insulation, doors, roofs, skylights and windows with more energy-efficient models.
BUSINESS
December 26, 2010 | By Kenneth R. Harney
The $858-billion federal tax bill signed into law by President Obama on Dec. 17 was a mixed bag for American homeowners, with elements of both the Grinch and Santa squeezed into the same bulging package. The goodies for select groups were well-publicized ? unemployment benefits extension, payroll tax cuts, continuation of the Bush income tax rates and favorable estate tax treatment for wealthy individuals, among others. The bill even pushed back the expiration date for the tax deductibility of mortgage insurance premiums for another year.
BUSINESS
July 2, 1987 | JUBE SHIVER Jr., Times Staff Writer
In a victory for Hollywood, the U.S. Claims Court ruled Wednesday that producers of television programs, rather than the TV networks, were entitled to about $500 million in investment tax credits claimed during the last 25 years.
NEWS
March 30, 1989 | DAVID LAUTER, Times Staff Writer
President Bush, abandoning a campaign promise that was a high priority for many of his conservative supporters and many religious leaders, said Wednesday that the government "can't afford" to provide tuition tax credits for parents who send their children to private schools. Tuition tax credits have been an issue of particular importance for Catholic education officials, including those in the Los Angeles Archdiocese, which sponsors the largest parochial school system in the nation.
BUSINESS
July 21, 2006 | From the Associated Press
Environmentally concerned car buyers will see some federal tax breaks for energy-efficient hybrids start shrinking this fall. Toyota Motor Corp. has hit the production limit -- 60,000 -- on vehicles eligible for a tax credit designed to encourage more buyers to choose gasoline-electric hybrids. That means the tax credits for Toyota and Lexus hybrids will be cut in half for drivers who purchase their vehicles beginning in October.
NEWS
January 6, 1992 | From Associated Press
The White House is considering a variety of health-care proposals, including possible tax credits to help people buy health insurance, White House Chief of Staff Samuel K. Skinner said Sunday. But Skinner said that, although "a number of options are on the table," no decision has been made on which proposals to include in the President's upcoming budget requests to Congress.
NEWS
September 30, 1998 | Associated Press
Senate Republicans, all but conceding that they will be unable to pass the House's $80-billion tax cut, said Tuesday it is more likely that a small package of expiring tax credits favored by business would be the only tax measure to be approved before the 105th Congress adjourns. The credits, known as "extenders," amount to about $1.6 billion. Senate procedural rules require most controversial legislation to get 60 votes to overcome a filibuster.
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