Austin Energy is building a greener tomorrow

24. December 2009 · Write a comment · Categories: General Tax · Tags: , , , ,

Taking advantage of Austin Energy’s incentives for energy efficient homes and businesses makes good financial sense. Rebates and loans are available to help Austin residents make environmentally friendly choices. In some cases, low and moderate income customers of Austin Energy can even receive free home improvements, even if they rent their homes rather than own them. By participating in one of a variety of incentive programs, homeowners can reduce their energy costs and save money while helping to keep Austin green.

Austin Energy has a longstanding and demonstrated commitment to saving energy and environmental responsibility. As a result, Austin Energy has partnered with the U.S. Environmental Protection Agency and the Department of Energy to offer Energy Star rebates to qualified customers. These rebates, available on purchases of high-efficiency air conditioning and electric water heater systems, solar photovoltaic systems, solar-powered water heating systems, as well as certain energy-saving home improvements, are intended to promote the use of green technology and alternative energy sources.

The efficiency of air conditioning systems is measured by two different systems. The Seasonal Energy Efficiency Ratio (SEER) provides a measure of a specific unit’s energy efficiency over the entire cooling season, and as such is a more general assessment. The Energy Efficiency Ration (EER) measures the unit’s efficiency under prolonged and constant use, as in the hottest days of summer. Austin Energy offers rebates for the purchase of new air conditioning models that achieve a SEER rating of 14 or higher and an EER rating of 11.5 or higher; some window air conditioners also qualify for these rebates. Split system air conditioners and heat pumps may also qualify if they meet these SEER and EER rating requirements. Rebates range from for small window units to 0 for the most highly rated energy efficient air conditioning systems.

Solar photovoltaic technology rebates work differently than appliance rebates. Since these solar panels actually generate electricity, Austin Energy offers low-cost, no-fee loans for the purchase and installation of solar photovoltaic systems, and then gives a rebate per watt to its customers for energy returned to the electrical grid. This makes solar energy an affordable and financially sensible alternative for private homes. Photovoltaic cells create energy without polluting the environment, so they are a sound environmental choice as well.

Solar water heaters also qualify for rebates from Austin Energy ranging from ,500 for new construction to ,000 for installation in an existing home. These technologically-advanced water heaters also qualify for a tax rebate of as much as ,000. Solar water heater systems must be certified by the Solar Rating Certification Corporation in order to qualify for these incentives.

To help customers decrease their energy consumption, Austin Energy also offers rebates for certain home improvements, such as adding insulation to attic spaces, air duct repair, adding caulking and weather stripping to windows and doors, and radiant barrier insulation. Low-income families can qualify to receive these energy-saving improvements free of charge as part of Austin Energy’s Power Saver Program. In order to qualify, you must meet certain income guidelines, the home to be improved must be a single-family residence, and in most cases the house cannot be valued at over 0,000. Renters who have lived in the residence for at least three months can also qualify if the landlord consents to the improvements.

Other Austin Energy programs include the Power Partners program, which gives customers a free programmable thermostat in return for allowing Austin Energy to cycle electric power usage during peak consumption periods; the Refrigerator Recycling program, and other incentives to save energy. But perhaps the most important incentives are the environmental benefits of these programs. Together with Austin residents, Austin Energy is looking to the future and working to build a greener tomorrow.

Find More Tax Rebate Articles

New Form Required for First-Time Homebuyers Tax Credit

23. December 2009 · Write a comment · Categories: General Tax · Tags: , , , ,

The first-time homebuyers tax credit has been credited with stabilizing the anemic housing market during the latter part of 2009 and first quarter of 2010. Alas, the credit has been claimed by many who have no right to do so according to the IRS. Given this, the agency has announced it will be auditing many of the claims. It has also just issued a new form that people claiming the credit must file.

The new form in question is known as Form 5405. It was created pursuant to the legislation that extended and expanded the first round of the tax credit, legislation known as the Worker, Homeownership, and Business Assistance Act of 2009. The new form fights the fraud problem by requiring homeowner’s to attach and file documentation regarding the purchase of the home they are claiming the credit for. Because of this, the taxpayers are barred from “e-filing” their tax returns. Also, the processing of any tax refunds they might expect will take longer, usually four to eight weeks.

So, what is involved in this Form 5405? The form flushes out the specific information of the purchase. The information must then be backed up with one of two types of attached documents substantiating the information claimed. The two types of documentation are:

A copy of the closing or settlement statement showing all the names and signatures of the parties to the agreement, sales price, the address of the property address, and date of purchase.

Newly Built – There is often not a settlement statement available for new home purchases. As a result, the IRS will accept a copy of the certification of occupancy. It must show the taxpayer’s name, address of the property and the date of certification.

The new version of the tax credit has been expanded to allow current homeowners to make a claim if they buy a new primary home and sell their old one. To make the claim, the taxpayer must show documented proof that they lived in the former primary home five out of the previous eight years or longer. Without said documentation, the claim will be denied. The appropriate documentation can include property tax or homeowner insurance records as well as copies of Form 1098 – mortgage interest statements.

The expanded first-time homebuyers tax credit is a real boon to those looking to buy. When taking advantage of it, just make sure you have the necessary documentation lined up in case the IRS decides to verify your claim.

Find More Tax Credit Articles

Himfr.com Analyzes China’s auto exports Situation in 2009

23. December 2009 · Write a comment · Categories: General Tax · Tags: , , , , , ,

This year China has become the first major auto-producing country, is also the largest consumer market in the country. A comprehensive beyond the USA and Japan. The first quarter of this year, the global auto market slump, according to statistics the U.S. market fell by 30%, the Russian market fell by 40%, Japan and France have declined by more than 20%, Germany Yi Eryue copies of a downward trend, increased in March . Global markets are basically on the decline.

The export challenge:
     This year China’s exports had dropped substantially due to external and internal points. External causes:
     (1) the entire international market has shown a significant degree of atrophy. Mainly reflected in the needs of the market itself less and exporters to spend a lot of inventory.
     (2) exchange rate impact. Due to exchange rate impact, we had to rely on the price advantage is slowly losing. Therefore, the market share of certain circumstances, the exchange rate is the number one killer.
     (3) difficulties in the credit crisis intensified. Consumption abroad, many are relying on bank lending. After the financial crisis, in addition to bankruptcy of many banks, many banks are raising the threshold of the loan. Many companies can not loan to buy products.
     (4) trade protectionism. More covert trade protectionism in developed countries, mainly with the integration of the state’s industrial revitalization in one; developing countries and some emerging countries trade protectionism more straightforward, mainly the improvement of the traditional customs duties, engage in licensing, quotas and other means.
    
Internal factors:
     (1) The capability of independent innovation needs to be improved. Whole Vehicle R & D investment accounted for about 1% of the total investment was significantly lower than transnational group of 8% ~ 12% of the proportion of input.

     (2) lack of quality and brand. We have introduced export qualification is to improve the quality of our products. Most businesses are now dependent on imports of the dealer to do after-sales service, resulting in many parts supply can not keep up, and some countries poor evaluation of Chinese brands. (3) The rapid growth of business entities. (4) The high cost of logistics affecting our competitiveness.

Export opportunities:
     (1) international consumer-grade as a whole down. Slower growth in spending on luxury goods abroad, will increase the economic and practical product consumption. Therefore, China’s exports of cars can replace some foreign luxury cars, a number of engineering machinery replaced the United States and South America a lot of second-hand car market. (2) The comparative advantage of China’s motor vehicles and parts are still evident. (3) increased opportunities for mergers and acquisitions.
     (4) the Government has launched a new automotive industry and the vibration of a series of policies to support exports. China has raised export tax rebate rate of six straight. In fact China’s comprehensive tax rebate rate has reached 14.5%, higher than the actual tax rate (13%). The state will also be ready to raise the export tax rebate rate.

California Tax Credits for Businesses

23. December 2009 · Write a comment · Categories: General Tax · Tags: , ,

If one speaks of California tax credits for business, one speaks of good pay back that the government awards you because your company is doing good for the economy in general, the community around them, the environment, and research and development as a whole. Basically, tax credits are incentives given by the government so that a company will open up to serve a community more that it will take from it.

California tax credits are usually not refundable, but the great thing about them is they can be applied to the next round of when a company or an organization pays their annual taxes to the government. Let’s picture the normal scenario of when businesses pay regular taxes. One would take their gross income and subtract the tax deductions from it. Calculating the taxes owed it is then applied to the respective tax table issued by law. The tax credits can then be applied to the outcome which means that fewer taxes are paid by the company that year because of all the good developments and contributions they have made to the economy, innovation, community or environment for the year.

California tax credits are one of the most progressive kinds of taxes that can be applied when comparing it to other states. The positive actions that their state laws encourage and reward have made it easy for companies to become more community friendly as well as environmentally friendly. For instance, if a business makes an innovative decision to switch from fossil fuel energy to renewable energy (through wind or solar power), this means that  they will get lots of California tax credits for businesses that they can apply to the next tax cycle. By doing this, the California government basically rewards good deeds and encourages more good deeds to be done by giving solid and applicable incentives for businesses.

More Tax Credit Articles

China Increased 328 Kinds Of Machinery Products Export Tax Refund Rate

23. December 2009 · Write a comment · Categories: General Tax · Tags: , , , , , , ,

: Second half of 2008, the Chinese Government to actively deal with the current complicated international and domestic economic situation, to support export trade, ease the business problems, improve the export tax rebate rate of four times. This is four times the rate of export tax rebate up, involving three times mechanical products, including first time raise the export tax rebate rate of 15 kinds of machinery products, from November 1, 2008 be implemented; the second time there are 445 species, from 2008 on Dec. 1 implemented; the third time with 328 species, from January 1, 2009 come into effect. To enable companies to better understand the relevant information, now the third time machinery to improve the situation of the export tax rebate rate below. Since January 1, 2009 from the export tax rebate rate increase a total of 328 kinds of mechanical products, the industry is:

One of 10 agricultural machinery industry, increase export tax rebate rate of 2 to 5 percentage points. Walking tractor, farm tractors and crawler tractors, wheeled tractors and other agricultural products, export tax rebate rate from 11% to 13%; agricultural self-loading or semi-trailer dump trailers and the export tax rebate rate increased to 9% 13%; non-agricultural self-loading or semi-trailer dump trailers and the export tax rebate rate from 9% to 14%.

2, 18 kinds of internal combustion engine industry, increase export rebates rate of 2 to 4 percentage points. Marine ignition reciprocating or rotary internal combustion piston engines and parts, gas engines of export tax rebate from 13% to 17%; ship diesel engine spare parts, motorcycle spare parts of diesel engine of export tax rebate rate of 14% to 17%; row volume 50ml Vehicle reciprocating piston engines, power <132.39kW other diesel engines and other products of export tax rebate rate from 11% to 14%; power 14kW diesel engine of export tax rebate from 11% to 13%.

3, 5 kinds of construction machinery industry, increase export tax rebate rate by 3 percentage points. Hand-held pneumatic rotary Tool Other hand-held pneumatic tools and other products of export tax rebate rate from 11% to 14%; lifting, handling, loading and unloading machines and parts and accessories of the export tax rebate rate from 14% to 17%.

4, 115 instrumentation industry, increase export tax rebate rate of 1 to 4 percentage points. Stereoscopic microscope, directional compass, range finder, optical fiber communication and fiber performance tester, coordinate measuring machine and other products of export tax rebate from 13% to 17%. Binoculars, telescopes and other astronomical instruments, drawing tables and drawing machine, gas meter, water meter, electric meter, a variety of digital multimeter, various mechanical parts such as balancing testing machine the export tax rebate from 13% to 14 %.

5, culture and office equipment industry, 52, has raised export tax rebate rate of 1 to 5 percentage points. A variety of cameras, electronic color separation apparatus, other plate cameras, laser photo typesetting equipment, film cameras and parts accessories, projectors, microfilm readers, orthographic projection, a variety of automatic film finishing plant and equipment, using a variety of photographic and printing photos equipment and spare parts accessories and other products of export tax rebate rate from 13% to 14%; measuring instruments and photographic equipment increased the export tax rebate rate from 13% to 17%; stapler export tax rebate rate from 9% to 14% .

6, 33 kinds of petrochemical general machinery industry, increase export tax rebate rate of 1 to 5 percentage points. Non-agricultural use of a coolant pump, centrifugal fan, with a speed of less than 10,000 non-farm rev / min centrifugal canned motor pump and centrifugal pump, non-agricultural use of liquid propellant pumps, non-agricultural production of heavy water with a multi-stage pump, the export tax rebate rate from 9% to 14%; the above products for agricultural export tax rebate rate of 9% to 13%; other transmission devices and transmission device, press with a combination of wet clutch / brake products of export tax rebate rate from 13 % to 17%; hand pumps, and other non-agricultural use of liquid pumps and parts, machine parts and other liquid products to enhance the export tax rebate rate from 11% to 14%; other agricultural pump, multi-sealed pumps, liquid pumps and other products export tax rebate rate from 11% to 13%; Roots-type blower and other products of export tax rebate rate from 13% to 14%.

Seven, five kinds of heavy mining machinery industry, raising the export tax rebate rate of 1 to 3 percentage points.

Coke ovens and parts and other products of export tax rebate rate from 11% to 14%; ball crushing equipment parts export tax rebate from 13% to 14%.

8, 8 kinds of machine tool industry, increase export tax rebate rate of 1 to 4 percentage points. Cutting metal or metal ceramic planer NES machine tools, and cutting machines to improve the export tax rebate rate from 13% to 17%; cutting metal or metal ceramic shaper, slotting, broaching the export tax rebate rate from 13% increased to 14%.

9, 32 kinds of electrical appliances industry, increase export tax rebate rate of 1 to 3 percentage points. Central heating hot water boilers and parts used in wind Generator Parts, motor and generator (s) parts and other products of export tax rebate rate from 14% to 17%; industrial furnace parts, soldering iron and torch, relay switches and other electrical components of the export tax rebate from 11% to 14%; 6 Portable Power Tools The export tax rebate rate from 13% to 14%.

10, Machine Components Industry 8, raising the export tax rebate rate of 3 to 4 percentage points. UF6 corrosion-resistant shaft seal, rotating shaft seal of the export tax rebate from 13% to 17%; portable hydraulic power chain Saw And parts and other products of export tax rebate rate from 11% to 14%; ship drive shaft and other products with the export tax rebate rate from 14% to 17%.

11, 42 species of the automotive industry, has raised export tax rebate rate of 3 to 5 percentage points. Micro-powered motorcycles and mopeds (engine displacement 50ml), 50ml and above the engine displacement of various models of motorcycles and mopeds and other products of export tax rebate rate of 9%, 11% to 14 %; for housing or camping trailer van semi-trailer and spare parts, tank semi-trailer and trailer parts, cargo trailers and trailer parts and other products of export tax rebate rate from 11% to 14%.

« Older articles
Newer articles »