February 28, 2010 |
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.
November 1, 1988 |
Beverly Hills venture capitalist Jack Salzberg had one objective when he was looking to invest in a company back in 1983. Buy the biggest loser he could find. Micro-Z Corp. in Monrovia was perfect. The company's computerized hotel reservations systems had never sold very well, and its losses piled up. In March, 1983, the company filed for Chapter 11 bankruptcy protection from creditors because its liabilities exceeded assets by $5 million.
February 20, 1993 |
A little noticed feature of President Clinton's economic program would lift all working families with children above the poverty level for the first time in American history, Administration officials say. Some tax experts on Friday disputed the contention. But there is no doubt that the Clinton Administration's plan to expand the Earned Income Tax Credit would result in a big boost to the working poor.
May 11, 1996 |
In an effort to encourage adoption, the House overwhelmingly passed a measure Friday that would provide a tax credit of up to $5,000 per child to offset adoption costs incurred by middle-income families. The measure, approved, 393 to 15, also forbids state and private agencies to delay placement of children with available families while attempts are made to find parents of the same race, color or national origin as the child.
March 1, 1992 |
Those with modest incomes are likely to get several pleasant surprises when they file this year's income tax return. Standard deductions, personal exemptions and tax credits for low-income families are more generous this year, making it far more likely that these individuals will get tax refunds. But actually filing a return will be more complicated for some families because of recent changes in the earned income tax credit.
January 15, 1988 |
Gov. George Deukmejian may offer a compromise in hopes of preventing critics from following through on a proposed constitutional amendment to allow a tax credit for individuals and businesses making contributions to AIDS research, the governor's finance director said Thursday. Deukmejian vetoed a tax credit bill last year. He is also opposed to the proposed constitutional amendment, which is backed by state Controller Gray Davis and some other Democrats.
September 26, 1989 |
Saying he was taking an important step toward providing health insurance for all working Californians, Gov. George Deukmejian on Monday signed legislation offering tax credits for small businesses that provide minimum medical coverage for their employees. Deukmejian also signed a related measure that requires his Administration to study new ways of guaranteeing health insurance for the estimated 2.7 million employed Californians who do not have coverage.
November 9, 1991 |
President Bush on Friday firmly turned aside the latest economic stimulus plan proposed by the Democrats--a tax credit for working Americans combined with higher taxes for the wealthy--and argued that the nation was no longer in a recession. Speaking with reporters in the stately gardens of Villa Taverna, the U.S. ambassador's residence in Rome, before flying to the Netherlands, Bush said he felt under no pressure--one year before Election Day--to produce an economic stimulus package.
February 12, 1999 |
Concerned about the rapid slowing of Hollywood's production boom, an assemblyman Thursday introduced a bill aimed at giving a tax break to producers who shoot TV or film projects in California. The bill by Assemblyman Scott Wildman (D-Los Angeles) would establish a 10% tax credit for labor costs when producers "maintain all production operations within California."
April 8, 2005 |
A huge tax credit in the fourth quarter helped Rite Aid Corp. overcome disappointing sales and quadruple its earnings. The drugstore chain reported that it earned $223.4 million, or 35 cents a share, compared with $53.5 million, or 9 cents, a year earlier, after costs for preferred stock dividends. Without the $179.5-million tax credit, the company earned $43.9 million, or 6 cents a share. Revenue dropped to $4.34 billion, down 1% from $4.4 billion last year.