This sweet little tax credit lets you offset what you owe the IRS dollar-for-dollar for up to 10% of the amount you spent on certain home energy-efficiency upgrades, from insulation to water heaters. On the downside, the credit is capped at $500 (less in some cases). But on the bright side, the right improvement could lower your utility bills indefinitely.
Debt Forgiveness: When you go through a short sale, foreclosure, or deed-in-lieu, your lender typically lets you off the hook for some or all of what you owe on your mortgage.That forgiven mortgage debt is income, on which you’d typically have to pay income tax.
Suppose you’re in financial distress and your lender agrees to let you short-sell your home, say for $50,000 less than you owe on the mortgage, and forgive you for the balance. Without the protection of the Mortgage Debt Forgiveness Act, you’ll owe income tax on that $50,000.It’s likely if you had the money to pay income tax on $50,000, you’d have used it to pay your mortgage in the first place. (Houselogic)
The best key to unlocking the mystery of Flight 370 lies in finding the plane’s flight data recorders, which should provide crucial data about flight dynamics and any possible malfunction.
But finding floating debris doesn’t mean that search teams will be able to locate the main wreckage and the black boxes soon, especially given the depths of the southern Indian Ocean. The black boxes emit emergency signals for only 30 days to help rescuers find them more easily. Based on available fuel and satellite pings, the aircraft may have stopped flying during the morning of March 8.