Interior Eat in Kitchen Area
40.943958
-73.067408
Category: North Fork
-
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
-
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
-
What are the Tax Incentives for Commercial and Investment Real Estate?
Owners of commercial real estate also have access to significant federal tax incentives for making energy efficiency improvements. The incentive are available for existing buildings that are renovated of retrofitted, and newly constructed buildings. Though the tax benefits are intended primarily for real estate owners, commercial property tenants who pay for energy improvements may be eligible as well.The primary building components eligible for federal tax benefits in commercial buildings are:
*heating, cooling and water heating systems
*interior lighting equipment
*building envelope improvements (e.g. energy efficient doors, windows, insulation in the roof and exterior walls.
To qualify, the renovated property must meet the ASHRAE 90.1-2001 building standard, and be placed in service no later than December 31, 2016.
ASHRAE refers to the American Society of Heating, Refrigeration and Air-conditioning Engineers; the ASHRE 90.1 standard is that group’s detailed technical requirements for energy efficiency in commercial and other buildings except low-rise residential properties. See www.ASHRAE.org for additional information.
Detailed guidance on claiming deductions, including certifications of improvements, can be found in the IRS Revenue Bulletin 2006-52 and IRS Notice 3008-40 available on the IRS website
Visit our vendors at the GREEN FEST June 16th 2012 in Port Jefferson, for more information visit www.PJGREENFEST.COM or at www.JPREALTOR.COM
-
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
-
213 Old Town Road Setauket, NY / GREAT STARTER HOME
Hansel & Gretel Home In Desirable E. Setauket Neighborhood In Three Village School District. Corner Lot With Open Floor Plan. Light, Bright And Airy. Short Sale Approved. Super Low Taxes Please Note There Is A Cat In House And Be Careful When Showing Not To Close Basement Door
Directions:Gnarled Hollow To Old Town Call today!
http://www.mlsstratus.com/Search/Rpt_Res_FLY.asp
Great Starter Home -
Awe Inspiring ~ Let the be…
Awe Inspiring ~ Let the beautiful days of Spring Inspire us~
Dare to share what Inspires you!
-
Belle Terre/Port Jefferson School District#6 Restored 1918 Energy Performer Estate For Sale
A One-Of-A-Kind Home For Sale In the beautiful Village Of Belle Terre! This Extraordinary 1918 Restored Estate offers over 6500 square feet of living space. Once the home of Melodie Hill–Opera Star!Restored Original floors and woodwork remain in addition to a newly expanded wing with energy efficient low emission windows throughout, radiant heat, blown insulation in the entire home, reducing heating and cooling costs by up to 20%. Beautiful French Doors, Energy efficient Fireplaces, Cac, Balconies, Terraces, all on gorgeous 2.29 Acres. All Village Amenities Including Beach, Playground and Summer Program for Children. Also, walk to Port Jefferson Village!
Craftsmanship and Elegance Yours For $2,300,000.
By Appointment Only thru Jolie Powell and Maria Palmar.
631-774-2264
Making the Connection 