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(BPT) - If you own a small business, every dollar matters - especially when it comes to taxes. Whether your business is a partnership or corporation, Uncle Sam offers some sizeable deductions to lower your liability, allowing you to put those dollars toward capital and employees.
(BPT) - The majority of this year's key tax law changes were the result of two acts - the Affordable Care Act of 2010, also known as Obamacare, and the American Taxpayer Relief Act of 2012.
(BPT) - More than 43.6 million Americans prepared and e-filed their own income tax returns in 2013, up 4 percent from the year before, according to the IRS. In addition to being more affordable than a storefront or accountant, online and mobile solutions have made doing your own taxes exceptionally easy and fast.
Attorney General Eric T. Schneiderman, Comptroller Thomas DiNapoli and New York City Department of Investigation (NYC DOI) Commissioner Rose Gill Hearn today announced the arrest of a nonprofit executive accused of pocketing taxpayer dollars intended for public services and capital improvements in New York City. A multi-agency joint investigation, including NYC DOI and two federal agencies, exposed the theft of approximately $373,000 in public funds provided by New York State, the New York City Council, and federal earmark grants.
Whenever the history of Forest Hills is discussed, the names Cord Meyer and Frederick and Ascan Backus always come up. Relatively few people remember another major player in the area’s history — the Springsteen family.
The Springsteens were farmers of Dutch descent who owned a large portion of land on the south side of Queens Boulevard, unlike the Backus family, which was dominant on the north side. Springsteen’s holdings started at Ascan Avenue and extended to 77th Avenue.
(Family Features) There are important realities every American must know about long-term care. Long-term care is more expensive than most people think. And, most importantly, the cost of care is usually paid for out of savings and income.
(BPT) - Engagement season is officially here, with couples around the country saying “yes” to proposals and starting to plan their weddings. In fact, 39 percent of marriage proposals happen between Thanksgiving and Valentine’s Day, according to WeddingChannel.com. While immediate discussions with your partner might be focused on the ceremony venue or honeymoon location, there’s another important consideration before saying “I do:” having the “finance talk.”
Representatives of Habitat for Humanity, a nonprofit ecumenical Christian housing organization which recently hosted a visit to Southeast Queens by former President Jimmy Carter, marking a return to New York for the 30th annual Carter Work Project, were on hand at Monday’s Community Board 13 meeting to acknowledge the panel for its support and ask for its “formal support” in the future, as well as to encourage residents to get involved in future projects planned for the area.
“We’re here to say thank you,” said Neil Hetherington, the chief executive officer for HFH.
(BPT) - If one universal lesson emerged from the economic meltdown of the Great Recession, it’s that ignorance is not bliss when it comes to financial matters. Before the recession, many Americans made financial decisions without fully understanding the impact of their choices – despite detailed financial disclosure statements intended to educate consumers on just what they were agreeing to when entering a credit contract with lenders.
(NAPSI)—According to the Internal Revenue Service, more than 101 million income tax refunds were issued in 2013, averaging $2,651 each. The average was a couple hundred dollars more for taxpayers who elected to have their refund directly deposited into a bank account.
As late as the 1940s, some Revolutionary-era buildings still stood in the vicinity of Queens Boulevard and Broadway in Elmhurst. But property values made development much more lucrative than any potential tourist attraction, so they didn’t last.
In 1939, Fred Reiner, who made his fortune in mortgages and real estate, bought the northeast corner lot. It had already been flattened by eminent domain when the subway was being built a few years earlier. Reiner had a real estate office at 87-12 Grand Ave. and lived in Forest Hills Gardens at 85 Ascan Ave.
Those concerned over the possibility of massive flood insurance rate hikes can breathe a sigh of relief. At least for now.
Congress unveiled a deal struck last week to postpone the rate hikes that started taking effect last month because of the Biggert-Waters Act, a 2012 law that sought to put the cash-strapped National Flood Insurance Program, administrated by the Federal Emergency Management Agency, on more solid financial footing.
(Family Features) Mortgage insurance is a policy lenders may require you to buy when you take out a home loan. This policy will protect them should you default on payments. Although you must pay the premiums, the insurance policy offers you no protections. If the house were to go into foreclosure, only the lender's interest in the property would be addressed.
Prior to 1960 there were no office buildings to speak of in the Rego Park-Forest Hills area. Then the John Hancock Insurance Co. approved a mortgage for a 13-story innovative luxury office building at 97-45 Queens Blvd. At 13 stories it would tower over anything else in the immediate area.
Architect Jack Brown, who had done dozens of apartment buildings in Brooklyn, got the call from the LeFrak Organization to design something special. It was a unique project, with a curved front. The first tenant was Jahn’s Ice Cream Parlor, which occupied the entire ground floor storefront.
A bipartisan deal has been struck in Congress that aims to avoid the hikes in flood insurance rates under a 2012 law that could lead to some residents paying thousands of dollars a year in flood insurance premiums.
The bill, the Homeowner Flood Insurance Affordability Act, was introduced this week by Rep. Maxine Waters (D-Calif.) and Rep. Michael Grimm (R-Staten Island) in the House of Representatives and Sens. Bob Menendez (D-NJ) and Johnny Isakson (R-Ga.) in the Senate. Waters is the ranking member of the House Financial Services Committee and co-sponsor of the 2012 Biggert-Waters Act, the law the new bill seeks to change.
I would like to know how many members of Congress earn over a million dollars a year. Of these, how many voted to shut down the government and deny federal workers their salaries while they collected their own?
I propose a way to reduce the deficit and our national debt: Any government employee who earns over $1,000,000.00 per year can no longer collect a salary, health benefits or any other tax breaks on the backs of average citizens. Instead of a worker paying taxes up to $106,000 a year, let everyone making over this amount pay taxes into Social Security every day.
For instance, most New Yorkers who pay at least $1,500 a month in rent or for a mortgage should be able to earn at least $50,000 a year before taxes are taken out of their salaries. If only part of this money were to go to health insurance, premiums would drop sharply for everyone. Most couples earn far less than $100,000 a year with both spouses working full-time. If they each have a car, and are parents, or support a parent, there is little left over for even small luxuries. Many families go into debt just trying to pay for the bare necessities when a crisis hits.
I would like to see a luxury tax of 10 percent on goods that are enjoyed by the wealthiest citizens and visitors from other countries who gladly pay 10 times the average price of any item.
In the “60 Minutes” broadcast on Oct. 20, it was noted that Dick Cheney’s heart transplant was paid by us, with our taxes. How can this be justified when programs for food stamps are cut out?
And members of Congress can use the money earmarked for their campaigns for various other perks, such as memberships in costly golf clubs, travel and special seating at sports events running well into tens of thousands of dollars.
It is most unlikely that Congress will agree to a fair luxury tax or that an executive order or the Supreme Court will challenge these practices. However, we, the voters, do have the cure for this greed. Stop electing the abusers of your tax dollars this November.
Community Board 8 members discussed a variety of issues during their meeting on Oct. 9 at the Hillcrest Jewish Center, where they also approved their capital and expense budget priorities.
Free immigration assistance from a lawyer, a new service for the CB 8 area, will be provided on the first and third Fridays at its office at 197-15 Hillside Ave. in Hollis, through June. Funding came from Councilman Mark Weprin (D-Oakland Gardens) and CUNY Citizenship Now.
(NewsUSA) - Faced with critics who thought he was crazy, Walt Disney mortgaged his house and sold a one-third stake to the ABC TV network to raise the $17 million he needed to build Disneyland.
Former President Jimmy Carter and his wife, Rosalynn, were in St. Albans on Friday, helping to refurbish a one-family house in a joint effort of the carter Work Project and Habitat for Humanity.
The Carters, their son Chip and daughter-in-law Becky spent more than two hours building a deck on the rear of a house on 112th Road formerly belonging to he New York City Housing Authority.