Does retirement and social security income qualify you for the 2007 tax rebate?
Answers: No, it is designed to be a tax rebate and is based on earned income. SSI income is not consdered earned income. Basically you need to have wages or self employment income of at lease $3000 to get a rebate.
I hope so..LOL. my understanding is yes as long as you file income tax
Mortgage refinance?
I refinanced my home mortgage this year? What, if any, part of the costs of the refi can a use for my excise refund?Answers: Unlike a home purchase, when you refinance, the standard rule is any points paid are amortized on a monthly principle over the life of the loan. You can't ususally only just deduct adjectives the points right away.
There's an exception however. If you refinanced your mortgage for more than your original loan and used the difference to restore your home, then the % of points remunerated representing the dollars used for the improvement can be deduct in the first year.
If this isn't your 1st refinancing, you'll probably own what's called "unamortized points." Those are points rewarded on your 1st refinancing that haven't been allowed but.
Those unamortized points are allowed IN FULL in the year you refinance.
Hope this help!
That is correct, the points are depreciated over the life of the loan on a refi.
Christine Bell, CRMS
http://www.pamortgagepros.com
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If I have my federal export tax return direct deposit would my duty rebate also be direct deposit?
I made 35k last year near two dependents so I should get a rebate.Answers: Yes.
According to the IRS:
Stimulus payments will be direct deposited for taxpayers who select that resort when filing their 2007 excise returns. Taxpayers who already filed and requested direct deposit won't stipulation to do anything else to receive the stimulus payment. Taxpayers who did not request direct deposit for their 2007 discount will receive a paper check by messages.
That's the goal.
If too heaps early deposits achieve rejected, they may rethink the idea.