Category — Taxes

Here are some random, but relevant statistics that I’ve collected the past week.

$100 Billion - The estimated revenue to be generated over the next 10 years by an Obama administration plan to increase taxes on earnings by U.S. companies from non-U.S. business ventures. (Source: Protect America’s Competitive Edge)

Tax Cheats Get Creative! Wackiest Tax Deductions:
1. Toilet paper from a home office worker
2. Dog food as a home-security expense
3. $2,000 gynecologist bill as “repairs and maintenance” (Source: Bankrate.com)

54%—The percent of homeowners who said their house is worth more than they owe, a decrease of seven percentage points since December. (Source: Rasmussen Reports)

69% The percentage of people who consider greedy corporate executives a major problem for the United States. (Source: Fox News Poll)

57% The percentage of people who are willing to pay higher taxes to fund health care coverage for every American. (Source: CBS News Poll)

Here are some random, but relevant statistics that I’ve collected the past week.

121,000—The number of United Auto Workers who could face deep cuts in wages and health care benefits if Chrysler LLC and General Motors Corp. declare bankruptcy. (Source: Wall Street Journal)

57%—The percent of Americans who say that taxpayers shouldn’t pay more than 25% of their income for taxes. (Source: Rasmussen Reports)

54%—The percent of investors who think that the proposal from China’s top government banker and a United Nations panel for a new global currency is designed to reduce the economic power of the United States (Source: Rasmussen Reports)

25% of the world’s companies, and 40% in the United States, plan to freeze salaries this year, but employees in South America and India can look forward to robust rises, a global survey shows on Tuesday. (Source: Reuters)

I received an email from my local utility company, PECO, reminding me about their rebate program for installing a new ENERGY STAR qualified, high-efficiency natural gas furnace, boiler, or residential water heater. Here are the details:

$300 Rebate: High-efficiency natural gas furnace or boiler
• Furnace must have a 90% Annual Fuel Utilization Efficiency (AFUE) rating or greater.
• Boiler must have an 85% AFUE rating or greater.
• Furnace or boiler must be ENERGY STAR qualified.

$50 Rebate: Residential high-efficiency natural gas water heater
• Water heater must have an Energy Factor (EF) of 0.62 or greater.
• Water heater must be ENERGY STAR qualified.

This rebate is great incentive along with the federal tax credits for consumers and builders. We can receive tax credits at 30% of the cost, up to $1,500 in 2009 & 2010 for existing homes. The PECO rebates are valid until the end of 2009. If PECO isn’t your utility company, ask yours if they have a similar rebate program.

Unfortunately, my equipment is fairly new and efficient, so this won’t help me. I did shut off the pilot light to my gas fireplace this weekend to save some on my gas bill. It’s still around 40 degrees at night, but not fireplace-worthy frigid.

New data released by the Census Bureau shows that in the period of 2005-2007 , the average homeowners in New York and New Jersey counties (population of 20,000 and more) paid the most in property taxes while those in Louisiana parishes paid the least. The full article also shows property taxes as median home value and the bottom 10 counties in property taxes paid.

View the full article here.