June 12, 2012 |
When Josh King heard that small businesses could get a tax credit for offering health insurance to employees, his reaction was, "Cool, that'll save us some money. " Then he looked at the not-so-fine print. The 23 employees of Avvo Inc., a website that provides legal, medical and dental advice, make too much money for the company to qualify for the credit. "It was a little bit disappointing. It was a little bit more limited than I thought," said King, general counsel for the company, which is based in Seattle.
June 6, 2012 |
Gov. Tom Corbett wants Pennsylvania to promise a 5-cent-a-gallon tax credit for Shell Chemical L.P. and other manufacturers using Pennsylvania ethane, a Marcellus Shale drilling-zone product the governor says could be the base for a new plastics industry. Steve Kratz, spokesman for Corbett's Department of Community and Economic Development, which gives out business subsidies and tax breaks when it's not forcing cash-strapped city governments to pay their bondholders, called Monday to explain the thinking behind the idea, after Capitolwire.com columnist Peter L. DeCoursey posted an account of a "secretive" ethane-tax proposal in Corbett's budget.
May 25, 2012
Q. I think electric cars are the wave of the future. As soon as I read that [GM's Volt is available in all states], I contacted a nearby Chevy dealer who has been a lifelong friend to get on the list to buy one. He assured me that I'd be among his first 50. The price will be about $40,000. The demand is apparently so great that the dealer will be able to demand full sticker price for some time to come, so I got no price break. However, he assured me that the price hit will be softened by a federal income-tax credit.
May 23, 2012 |
TRENTON — When the electric company shut off Barbara Offredo's service last spring, she used flashlights to cheer up her 11-year-old son, Joseph, who missed lights, cooked meals, and hot showers. "Pretend we are camping," she told him, knowing it would be eight days before she could pay some of what she owed. Offredo, 51, of Hamilton, choked up telling the story Monday. A full-time hospice nurse and single mother of two, Offredo said she is on the brink of homelessness because rent for her two-bedroom apartment eats up half of her monthly salary.
May 4, 2012 |
GARFIELD, N.J. — Gov. Christie on Wednesday ramped up public pressure on Assembly Democrats to agree to his tax-cut plan. The Republican governor told a town hall audience in this Bergen County town that Democrats in the lower house are obsessed with raising taxes. Christie is trying to drum up support for his plan to reduce income taxes by 10 percent over four years. The Assembly and Senate have offered competing plans. The Assembly plan would reduce taxes 20 percent — 25 percent for seniors and the disabled — funding the reduction by reinstating the so-called millionaires' tax. Christie previously has vetoed a millionaires' tax. The Senate plan provides a tax credit of up to $1,000 based on amount of property taxes paid.
May 4, 2012 |
As City Council mulls Mayor Nutter's proposal to shift to a property-tax system based on market values, Council President Darrell Clarke revealed a plan Thursday that would lessen the blow to longtime homeowners, seniors and low-income residents. Clarke's proposal includes a plan to give property-tax exemptions to homeowners of 10 years or more in neighborhoods where property values have spiked due to development. The bill doesn't yet specify the amount of the exemption, and the city would need enabling legislation from the state.
April 16, 2012 |
Mark Segal had been biting his nails, waiting for the call. Thursday morning, he was drinking a mug of sweet vanilla coffee in his den above the offices of the Philadelphia Gay News when the phone finally rang. His dream project, an affordable housing complex welcoming to lesbian, gay, bisexual, and transgender seniors, had won a competitive bid for an $11 million state tax credit. "I've been trying not to cry," Segal said Sunday, barely succeeding in holding back the kvell . For more than three years, the 61-year-old founder and publisher of PGN has been planning, lobbying, negotiating, collaborating, and cajoling every social-service agency, activist group, and political leader he knows to make Philadelphia one of the first cities in the nation to meet the needs of the aging LGBT community.
March 4, 2012 |
Give your tax return your full attention. It might be one of your last chances to partake in about $450 billion in tax breaks set to disappear at the end of this year. With the federal government scrounging for money and desperate to relieve a mounting deficit, lawmakers are circling some favorite tax breaks like vultures. During the last couple of years, they have tried to spur an anemic economy by putting a little more of your income back into your pocket instead of routing it to taxes.
March 2, 2012 |
WHEN THE CITY and the Philadelphia School District participated in interest-rate swaps - contracts aimed at trimming city borrowing costs - it backfired and the city ended up dishing out millions to big banks to break the deal. Now, City Council wants to see if the city can get some of that money back and whether legal action should be pursued. Councilman Jim Kenney introduced a resolution yesterday calling for hearings to investigate the use of interest-rate swaps. Local governments and schools were swayed by bankers in the early 2000s to purchase swaps that were dependent on the future of U.S. interest rates.