Well without giving any further lectures about stimulus check and its history and popularity among people, i am going to get to the business straight. Here are few ways i think you could make your own way to increase your earning and use it for an important cause of your choice.

1 Start a Savings Account : Start a high yielding savings account with FNBO direct or ING direct and make sure you deposit your extra money there, no matter how little you manage to save some every time. By end of this year you would at least have $400 if you are single and double the amount if you are saving as a couple.

2 Do Over Time: If you have the facility to make extra money by working more hours make use of it but make sure yo don’t lose the quality time to be spent with the family.

3 Start a Side Business: It is as simple as it sounds, if you enjoy assembling furnitures , computers or making jewelery then start making money outof it right away. If you are a great cook you could even start blogging about your recipes and sign up to Adsense.

This is not all but i will be back with more ideas in the next session.

Do you belong to the targeted industry?

The stimulus money is not being allotted to small businesses of all nature. Priority is being given to businesses that is directly linked with health care, housing, energy&transportation, infrastructure&water, education and finally IT. It is important to carefully read the regulations related to industry specific allotment of stimulus funds.

Do you have a Plan Yet?

To earn the support of government, you need to show them a detailed plan of how their money is going to be invested so that it helps to improve the economy.Make your plan as much visual and logical as possible.

Do you know about the existing funding levels?

The funding for small business branches out from local, state and federal divisions. It is possible to receive money from more than one level, hence do not restrict yourself by just applying once. Read about the eligibility criteria and apply for whatever that suits you, you might end up with an amount that you never thought of but remember whether you receive a back up from the stimulus fund or not purely depends on the nature and scope of your trade.

Are you closely associated with any of the officials ?

It is a good thing to be in good terms with someone who is involved in the decision making process of the disbursement. Well this might sound like something out of track but the truth is, the more your business is recognized for its potential by an high ranking official, the more it would help him to make a decision. Hence its not too late, you could start right away with this ‘relationship building’ mission. Begin your operation with acquiring contact information from state and local websites.

The government is sure trying to help people by allotting $800 billion for American recovery and reinvestment act, but this fund is not gonna be just thrust into the economy at once. You can be assured that stimulus money for small business is going to be made available, but its in your hands to take the necessary initiatives to make yourself ‘the fittest’.

]]> http://www.8000credit.org/725/get-stimulus-money-for-your-small-business/feed/ 0 http://www.8000credit.org/10/8000-dollar-tax-credit-home-purchase/ http://www.8000credit.org/10/8000-dollar-tax-credit-home-purchase/#comments Tue, 17 Feb 2009 13:00:39 +0000 Ben http://www.8000credit.org/?p=10 The ongoing debate in the Congress regarding the housing stimulus bill has been settled. The bill has been watered down from its original tax break of $15000. According to this bill, a tax credit of $8,000 is being offered to a couple and $4000 to singles interested in buying their first home. However, there are certain conditions attached to the bill.

Conditions:

One of them may likely be that the home should be purchased between April 9, 2008 and April 1, 2009. The bill is said to provide a good push towards home ownership which is currently at one of its ebb. Experts suggest that homes are at their most affordable prices since 1970. Moreover, the appeal generated by the lower mortgage rates is also attracting first time home buyers.

Is this bill useful

An average home owner is far better off than an average home renter. After getting a house for yourself, you get to have a property that will be an important part of your investment portfolio. This will also allow you to purchase some equity, if you and the market are willing in addition to securing more tax benefits. Now is the best time to buy a home, since the effect of downturn has lowered all the rates. After the bill passes, if you decide to become one of the $8000 tax credit home owners you are in for a fair deal. Well for starters, you will have a home to call your own. Secondly, you will not have an actual tax credit. It is more like a zero percent interest loan that has a payback period of 15 years unlike the earlier tax credits which acted more as a burden for your financial sources.

Opposition to the bill

Earlier the tax credit plan was of $15000 but due to lack of support from the republicans it was curtailed down to $8000. The credit is said to provide the buyers with a 10% off up until $15000 on any house’s purchase price. Hypothetically, if 5% of the population bought houses after this bill then around 17.5 million homes would be sold. Multiplying the figure with the tax break the resultant amount involved would be huge. This would take the economy a step further to get out of the recession. It has been reported that the actual population eager to benefit from $8000 would be more than 5% of the first time home owners.

Criticism of the bill

However, the effects of the credit may not turn out to be as ideal as expected. Critics have pointed out that the credit lacks geographic targeting. Here the buyers may use the credit as they please which will lead to more investment in healthier markets instead of the markets where a purchase incentive is desperately needed. Moreover, it is said that the savings generated for the buyer after the credit would be sufficient for him to have an extra cup of coffee at his favorite restaurant, which is not exactly what the congress has in mind.

Leaving the criticisms aside, the entire buzz on the bill surely indicates that the average American is looking forward to becoming a first time home owner.