SavvySugar

What to Know About the Extended Homebuyers Tax Credit

SavvySugar — Mon, 09 Nov 2009 06:00:09 -0800

Stimulating the economy is the motivation behind many discussions and decisions coming from the White House these days. The original $8,000 first-time homebuyers credit was developed with economic improvement in mind, and the measure's popularity led to President Obama signing an extension and expansion of the credit on Friday.

The tax credit was scheduled to expire on Dec. 1, but the new version comes with a later date and widens the range of those eligible to claim the credit. Learn more about the new tax credit when you read more.

Homebuyers must sign a contract before April 30 and close on the home by June 30.
The previous credit was limited to first-time buyers or buyers who haven't owned a home in the past three years. The new version has been expanded to include those who have owned a home for five out of the past eight years and want to buy a new one.
First-time homebuyers are still eligible to receive the $8,000, while existing homeowners can qualify for a $6,500 tax credit.
The income limits have been significantly raised. With the previous credit, single people making more than $75,000 or couples earning more than $150,000 didn't qualify for the full credit. Under the new version, single buyers can earn up to $125,000 while a married couple can earn $225,000 and still get the full credit.

Are you hoping to take advantage of the extended homebuyers tax credit?

Kellan Flexes at LAX, Cam Gets Steamy With Xtina, and Garner Scrubs Toilets!

Molly — Tue, 22 Sep 2009 14:00:00 -0700

Kellan Lutz jokes around with the paparazzi on his way back to Vancouver to film Eclipse, plus the latest role for Twilight star Cam Gigandet and some updates from New Moon. Late night included Jennifer Garner talking about her preschool duties and President Obama on Letterman. All that and more so watch PopSugar Rush now!

3 Ways Obama Plans to Help Americans Save More

SavvySugar — Tue, 08 Sep 2009 04:30:14 -0700

The federal government is in an unfathomable amount of debt, but that's not stopping President Obama from trying to help US citizens improve their personal finances. The message from his weekly address was clear.

Even before this recession hit, the savings rate was essentially zero, while borrowing had risen and credit card debt had increased. More broadly, tens of millions of families have been, for a variety of reasons, unable to put away enough money for a secure retirement . . . We cannot continue on this course.

The President isn't wasting any more time to remedy this reality and announced changes this weekend that will take effect immediately. The administration is hoping these changes will make it easier for Americans to save, particularly for retirement. Find out the three main ways saving will be made easier when you read more.

Auto enrollment in retirement plans: The administration will eliminate many hurdles smaller employers have had to automatically enroll workers in to retirement plans. Employees will still be able to opt out of employer-sponsored retirement plans, but the existence of auto-enrollment makes higher-rate of participation more likely.
Saving tax refunds: There will be a third option when selecting how you'd like to receive your 2010 tax refund. Besides choosing to receive a paper check or direct deposit, the IRS will allow those eligible for refunds to receive payment in the form of U.S. savings bonds.
Sick days and vacation time become 401(k) money: I can see this one becoming particularly popular, because so many workers are in the habit of letting their accrued vacation days go to waste. The White House will make it easier for employers and workers to convert unused vacation and sick leave pay into 401(k) contributions.

Take an Obama-Inspired Budget Vacation

SavvySugar — Mon, 10 Aug 2009 08:30:41 -0700

The first family is headed West this week for an outdoorsy vacation featuring some of the country's most beautiful national parks. It's not going to be all animals and nature for the Obamas because the president will be working along the way, but anyone can follow the family's example and take a budget-friendly vacation to one or more of the many national parks in the US.

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Should White House Guests Pay For Their Own Meals?

SavvySugar — Sat, 01 Aug 2009 08:30:45 -0700

Times have changed. On two recent occasions, CEOs of prominent corporations were asked for their credit cards to pay for a White House lunch to which they were invited. Surely they expensed the mid-day meals to their company accounts, but the instances have made news because they're without precedent.

White House spokeswoman Jen Psaki explained, "From time to time, White House guests are asked to reimburse for their meals in order to ensure there is no conflict or appearance of a conflict. That is consistent with our tough ethics rules, and we will continue the practice when appropriate."

President Obama Discloses His Personal Finances

SavvySugar — Mon, 18 May 2009 04:30:23 -0700

For all of the security it takes to protect the president and his family, the Obamas don't exactly get much privacy. A disclosure of President Obama's personal finances was released on Friday, making it clear he's a pretty conservative investor, his daughters' educations are a priority, and he's got enough cash for a rainy day. The numbers were provided with pretty big ranges, but here's a peek inside Obama's finances.

He has between $101,000 and $265,000 in two checking accounts.
There's between $100,000 and $200,000 in two 529 educational savings accounts for the First Daughters, Sasha and Malia.
Obama plays it safe with most of his money, investing between $1 million and $5 million in U.S. Treasury bonds.
His stock market exposure is mostly limited to between $115,000 and $250,000 invested in a mutual fund, the Vanguard FTSE Social Index fund (VFTSX).

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Will the Stimulus Package Improve the Economy?

SavvySugar — Tue, 24 Feb 2009 11:30:25 -0800

Last week President Obama signed a $787 billion stimulus bill designed to get the economy back on track. The CNN/Opinion Research Corp. ran a survey and found 53 percent of Americans believe the package will improve the economy, while 44 percent said that it won't. What's your opinion?

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The Obamas Pay For Groceries, Just Like Us

SavvySugar — Mon, 26 Jan 2009 11:30:23 -0800

The Obamas may have a talented executive chef on staff to cook their meals, but that doesn't mean the presidential kitchen is completely complimentary to the first family. People magazine reports that, with the exception of official dinners, the Obamas are responsible for all of their food, drink, and dry-cleaning bills. The expenses are deducted from President Obama's $400,000 annual salary. They might be the first family of the United States, but they have everyday expenses, just like us!

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How Money Are You: Presidential Salaries

SavvySugar — Tue, 20 Jan 2009 09:30:10 -0800

It's inauguration day, which means Barack Obama officially begins his new job as President of the United States. Obama will receive an annual salary, as with any other job, except he won't be eligible for a raise during his term. What do you know about presidential salaries? Take the quiz!

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Take the quiz

How to Get a Job With Obama as Your Boss

SavvySugar — Mon, 17 Nov 2008 04:30:48 -0800

Barack Obama is my boss. How would you like to be able to technically say that? If you're serious about wanting a job under the Obama administration, now is the time to apply. Typically, about 7,000 new jobs open up at the beginning of a new president's term, and on Wednesday the government will announce which positions will be available and where they will be located.

The jobs last as long as Obama is in office and are referred to as politically appointed or noncareer positions (political experience is not a prerequisite). The positions cover a variety of fields offered at a wide range of salaries and experience levels. Fill out a general application online now to receive instructions later about how to apply for the positions that interest you most. A comprehensive list of all jobs will be available after they've been announced at gpoaccess.gov.

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