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Category: Health and Wellness
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Confused about the 3.8% Real EstateTax?
Confused about the 3.8% Real estate Tax?
Effective January 1st 2013 that this tax WILL NOT be imposed on all real estate transactions, a common misconception. Rather, when the legislation becomes effective in 2013, it may impose a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). The tax will fall only on individuals with an adjusted gross income (AGI) above $200,000 and couples filing a joint return with more than $250,000 AGI. It is important to review the resources listed above for full details
Applies to: Individuals with adjusted gross income (AGI) above $200,000
Couples filing a joint return with more than $250,000 AGI
Types of Income: Interest, dividends, rents (less expenses), capital gains
(less capital losses)
Formula: The new tax applies to the LESSER of
Investment income amount
Excess of AGI over the $200,000 or $250,000 amount
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Let’s Talk Geothermal Heat Pumps and Tax Credit Incentives
Qualified geothermal or geoexchange heat pump systems use the ground or ground water as a thermal energy source to heat a home or as a thermal energy sink to cool a home. Tax credits are available for up to 30% of the cost of a geothermal system, including labor and installation, with no dollar limit on the cost of equipment or the size of the credit.To be eligible, the system must meet ENERGY STAR criteria( www.energystar.gov ), as well as specific efficiency ratings for closed loop, open loop, and direct expansion heat pumps.
The equipment must be placed in service no later than December 31st 2016. Credits may be carried forward to future tax years.
NOTE: ENERGY STAR is a joint federal program run by the environmental Protection agency (EPA) and the U.S. Department of Energy. It is designed to promote greater use of energy-efficient products and practices for the residential and business sectors. Its website is a treasure trove of Information on everything from individual products to federal and state tax credits and rebates. Its ratings and certifications are the key qualifying factors for some tax credits.
Come to the Green Fest this Saturday June 16th from 1-6PM at the Village Center & Harbour Front Promenade of Port Jefferson or visit www.PJGreenFEST.com.
If you need additional information feel free to contact me directly- MariaPalmar www.PortJeffersonhomes.wordpress.com
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Let’s Talk Geothermal Heat Pumps and Tax Credit Incentives
Qualified geothermal or geoexchange heat pump systems use the ground or ground water as a thermal energy source to heat a home or as a thermal energy sink to cool a home. Tax credits are available for up to 30% of the cost of a geothermal system, including labor and installation, with no dollar limit on the cost of equipment or the size of the credit.To be eligible, the system must meet ENERGY STAR criteria( www.energystar.gov ), as well as specific efficiency ratings for closed loop, open loop, and direct expansion heat pumps.
The equipment must be placed in service no later than December 31st 2016. Credits may be carried forward to future tax years.
NOTE: ENERGY STAR is a joint federal program run by the environmental Protection agency (EPA) and the U.S. Department of Energy. It is designed to promote greater use of energy-efficient products and practices for the residential and business sectors. Its website is a treasure trove of Information on everything from individual products to federal and state tax credits and rebates. Its ratings and certifications are the key qualifying factors for some tax credits.
Come to the Green Fest this Saturday June 16th from 1-6PM at the Village Center & Harbour Front Promenade of Port Jefferson or visit www.PJGreenFEST.com.
If you need additional information feel free to contact me directly- MariaPalmar www.PortJeffersonhomes.wordpress.com
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2 Rosita Lane Port Jefferson, NY “NOW PRICED TO SELL AT $849,0000 /UNDER CONTRACT
2 Rosita Lane Port Jefferson, Check out the price of this amazing home? Only $849K -UNDER CONTRACT 7/11/2012
Premier Home..When Only The Best Will Do! Walk To Golf, Tennis,And Private Beach. Completely Updated! Luxurious! Unpack And Surround Yourself With Beauty And Quality. Live The Harbor Hills Lifestyle You Deserve. Beautiful Backyard With In Ground Heated Pool,New Liner On .75 Acre. Top-Rated Port Jefferson School District. A True Treasure. Owner Motivated
The Best Value In The Sought-After Harbor Hills, Country Club Community. Our 18 Hole Course Is Pristine With 8 Beautifully Lighted Har-Tru Tennis Courts All Overlooking Long Island Sound. This Extraordinary Colonial Is Walking Distance To The Lifestyle You Desire. Just Move Right In And Enjoy Pool, And All Country Club Amenities. Perfectly Maintained And Updated! Value!
2 Rosita Lane Port Jefferson, NY 11777REDUCED TO $849,000Taxes $15,137.35
http://www.mlsstratus.com/Search/Rpt_Res_FLY.asp
Premier Home..When Only The Best Will Do! Walk To Golf, Tennis,And Private Beach. Completely Updated! Luxurious! Unpack And Surround Yourself With Beauty And Quality. Live The Harbor Hills Lifestyle You Deserve. Beautiful Backyard With Inground Pool On .75 Acre. Top-Rated Port Jefferson School District. A True Treasure.
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Green Fest 2012 * Federal Tax Credits for Homeowners
Making a Differnce Together Did you know the most generous credits, for investments in alternative energy systems for houses, already extended through 2016 are likely to play key roles in homeowners’ housing choice in the coming years.
* Credits for renewable energy systems such as solar panels geothermal heat pumps, solar water heaters, small wind generators and fuel cells. The credits cover up top 30% of the cost of the systems, plus labor and installation expenses, with no set maximum on the size of the allowable credit.
* Credits for energy efficiency improvements to existing houses of up to 10% of the product’s cost, to a maximum of $500. The $500 limit applies to the aggregate ( total) of the expenditures made for the energy efficiency improvements during the tax year.
With this in mind, come check out the vendors offering an array of information for you to make an informed decision if Green is cost-effective for you!
This event is sponsored by The Greater Port Jefferson Chamber of Commerce and chaired by Jolie Powell, of Jolie Powell Realty , check out PJ GreenFest
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“When you realize how perfect everything is you will tilt your head back and laugh at the sky.” – Buddha ~ ♥ ~
“When you realize how perfect everything is you will tilt your head back and laugh at the sky.” – Buddha ~ ♥ ~ -
Awe Inspiring ~ Let the be…
Awe Inspiring ~ Let the beautiful days of Spring Inspire us~
Dare to share what Inspires you!
Making the Connection 