Here is a recent article from the Austin Business Journal:
Austin among 10 cities 'poised for greatness' in
2012 Austin is a great place to be this year, according to The Street, which named the Capital City among the top 10 cities “poised for greatness” in 2012.
The Street, a financial news website, named its top 10 cities for 2012 based on financial forecasts, large-scale events and new initiatives.
Austin was cited on the list for its low unemployment rate, its many music and film festivals, and its low home prices. Austin's blend of state jobs, help from the University of Texas at
Austin and private-sector employment also contributed to Austin’s place on the list.
Other cities on the list include Indianapolis, which is hosting the 2012 Super Bowl, Chicago and Houston.
According to Trulia’s Rent vs Buy Index 2011 , the smart choice for most Austinites right now is to buy.
Austin is among the top 50 U.S. cities where it is "Much Less Expensive to Buy Than Rent", coming in at #35. What does that mean? Well, when you look at the average home price vs. the average monthly cost of rent in Austin, the numbers show that it is significantly more affordable to buy in most areas of
the city. With rental rates increasing and interest rates at historic lows, buying is financially the smarter choice. So, is buying right now the right
choice for you? Please contact your REALTOR today to help determine your individual situation in your area.
Have you recently received one of those emails that only has "Re:" in the subject line, then when looking at the email, you see some weblink that looks
suspicious, but the email came from someone trusted? This can be an indication of a "hacked" email account, and usually the party doesn't even know this is going on. If you know the person, give them a call and let them know and delete the email and empty the trash can.
While we do all we can to secure our email accounts, one simple and overlooked tip is simply this:
Create a fictitious email contact in your
list, one that will be picked
up first,
example: aaa_111@###.com
Why? If your email account should be compromised, this email contact "That you will never use", will fail to go out or come back as "un-deliverable", this will flag you that something is "amiss", more importantly, it may cause the email to never go out, as it is common among some newer services to hold up bulk mails, (ones with
many addresses) if the emails "To" line doesn't "resolve" to a valid address.
I hope everyone had a safe and enjoyable Christmas and New Year! I hope you prosper in 2012!
Remember it is time to change the batteries in your smoke detectors!
There are several tax credits and deductions set to expire at the end of the year, and given the federal deficit problem, there's a good chance they won't be
extended. If you want to take advantage of them, you need to act before Jan. 1, 2012.
Mortgage insurance premium deduction
If you itemize deductions, you may deduct the premiums you pay for mortgage insurance, just like you do mortgage interest. However, this deduction is phased out if your income exceeds certain levels. To qualify for the full deduction, a couple or a single taxpayer must have an adjusted gross income of $100,000 or less. The deduction is phased out completely if AGI exceeds $109,000.
This deduction, which was first enacted for 2007, is scheduled to expire at the end of 2011. Thus, your payments are deductible only if you pay them during 2011; a payment after 2011 is not deductible.
Education expenses deduction
A deduction of up to $4,000 for qualified education expenses is available for 2011. All or part of the amount you pay can be for classes beginning in 2012. But you must make your payments during 2011, because the deduction
expires at the end of the year. This deduction is not available if your modified adjusted gross income is more than $80,000 ($160,000 if filing a joint
return). Nor is it available if any of education tax credits are claimed.
Home energy credit
First, any homeowner may qualify for an energy credit of up to $500. You can qualify for the credit if you purchase during 2011 solar panels to generate
electricity or for water heating, or install wind energy equipment, a geothermal heat pump, or certain types of fuel cells to generate electricity. The credit is up to 30 percent of the amount you spend, up to the $500 limit. This credit is not available for purchases in 2012.
Sales tax deduction
If you itemize, you can deduct either your state and local taxes or your sales taxes paid during the year. This deduction is a boon for people who live
in states with no or low income taxes. However, the deduction for sales and use taxes instead of state income taxes is scheduled to expire at the end of 2011.
To maximize this deduction, you should make any large purchases before the end of the year.
Adoption credit
A tax credit for adoption expenses (adoption fees, court costs, attorney fees, travel, etc.) has been available for many years. However, an enhanced
adoption credit is available for adoptions finalized before 2012. The credit is up to $13,360 of adoption expenses. For 2011, this is a nonrefundable credit, meaning you qualify for it even if it exceeds the amount of your 2011 tax
liability. This means that you could qualify for a tax refund even if you did not have federal income tax withheld.
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