New credit card rules and the latest in fraud scams
February 2, 2010 This month’s column highlights some of the latest fraudulent scams being perpetrated against an unsuspecting public. However, with the enactment of new credit card rules effective February 22, 2010, this is also a good time to remind you of some new consumer protections including: (More)
Electric Vehicle “Golf Cart” Credits
January 27, 2010 Plug-in Electric Drive Vehicle Credit: The new law modifies the credit for qualified plug-in electric drive vehicles purchased after Dec. 31, 2009. To qualify, vehicles must be newly purchased, have four or more wheels, have a gross vehicle weight rating of less than 14,000 pounds, and draw propulsion using a battery with at least four kilowatt hours that can be recharged from an external source of electricity. The minimum amount of the credit for qualified plug-in electric drive vehicles is $2,500 and the credit tops out at $7,500, depending on the battery capacity. The full amount of the credit will be reduced with respect to a manufacturer's vehicles after the manufacturer has sold at least 200,000 vehicles. (More)
Power
January 27, 2010 (THE ECONOMIST-M. Ray Perryman) -- An adequate supply of available electric power at reasonable prices is vital to existing business activity as well as future economic development. However, studies (by my firm as well as other entities analyzing the issue) consistently show a potential shortage of electric power in Texas without significant capacity additions to the electric grid in the coming years. (More)
Homeowner Energy Credits
January 20, 2010 The American Recovery and Reinvestment Act (Recovery Act), enacted earlier this year, expanded two home energy tax credits: the nonbusiness energy property credit and the residential energy efficient property credit. (More)
Special Tax Breaks for Small Businesses
January 13, 2010 The American Recovery and Reinvestment Act (ARRA), enacted in February, created, extended or expanded a variety of business tax deductions and credits. Some of these changes--the bonus depreciation and increased section 179 deduction, for example--are only available this year. The following are some of the key provisions for buisnesses. (More)
Donations
January 11, 2010 Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. (More)
Eyes Forward
December 30, 2009 (THE ECONOMIST - M. Ray Perryman) -- For more than three decades (ugh!!), I have been analyzing an amazing amount of data related to the economies of the US and Texas, as well as major regions and metropolitan areas in the state, in order to develop outlooks for short- and long-term periods. (More)
Tax Tips for Year-End — Donations
December 29, 2009 Contributions are deductible in the year made. Thus, donations charged to a credit card before the end of 2009 count for 2009. This is true even if the credit card bill isn’t paid until 2010. Also, checks count for 2009 as long as they are mailed in 2009 and clear, shortly thereafter. (More)
Raising the Roof
December 23, 2009 (THE ECONOMIST - M. Ray Perryman) -- Americans have a fairly good understanding of debt since most of us have incurred some during our lifetimes. When it comes to the National Debt, however, our knowledge about what it is and what it means is a bit less clear. (More)
