| If April 15 isn't on your mind, maybe it should be
Beware: Your children may now face the kiddie tax even when they're no longer kiddies. The tax is designed to block parents in a high tax bracket from shifting income-producing assets to a child in a low bracket. Before 2006, it targeted youngsters under age 14 by making them potentially liable for tax at their parent's higher rate -up to 35 percent compared with as little as 10 percent for the child. For 2007, kiddie tax can hit through age 17, and for 2008 it can hit through 18 or through 23 for full-time students. Exceptions may apply to older children who hold jobs and mostly support themselves, but the new sweep is broad. "Children who are not subject to the kiddie tax this year may be hit by it next year," cautions accountant James Erdekian, a partner at Feeley & Driscoll in Boston.
See-through condos
Sales contracts fell through when buyers couldn't get affordable loans. Investors who had hoped to buy in and then resell at a profit pulled out of the market. Buyers who had to sell their current homes first were stuck when they couldn't sell. Others balked at paying prices that had seemed more reasonable during the run-up in home prices.
New condo sales in metropolitan Baltimore fell 37 percent in the first half of this year - the latest statistics available - while new townhouse sales fell 15 percent, according to Hanley Wood Market Intelligence. And in the third quarter, as the credit crunch hit the market, there were more contract cancellations than sales in the Baltimore metro market, according to an analysis by Delta Associates, which includes projects that are selling or under construction.
Baytex Energy Trust Announces Third Quarter 2007 Results
Capital expenditures for the third quarter of 2007 totaled $43.5 million for exploration and development activities. During the third quarter, Baytex participated in the drilling of 51 (48.6 net) wells, resulting in 38 (36.3 net) oil wells, 10 (9.5 net) gas wells, two (1.8 net) service wells and one (1.0 net) dry hole for a 98.0% (97.9% net) success rate. In addition, 17 wells were drilled by other operators on farm-outs from Baytex, with Baytex retaining overriding royalty interests. Total exploration and development capital expenditures for 2007 is expected to be consistent with previous guidance of approximately $150 million.
Production averaged 38,094 boe/d during the third quarter, a 14% increase over that of the previous quarter. This is in line with expectations due to the acquisition of properties at Pembina and Lindbergh at the end of June.
Seizing of homes too easy in Md.
When you sue a Marylander for a couple of thousand dollars, he must receive personal notice, a courtroom trial and ample opportunity to appeal. But when you foreclose on his home, none of those bothersome technicalities apply. What kind of system is that? Lenders are seizing thousands of Maryland houses because owners can't or won't make payments. Many of these cases involve weird mortgages whose monthly obligations rise over time. This is not to excuse borrowers' duty to learn about loans and stay current. Many proposed reforms could go too far to protect irresponsible borrowers, which would unnecessarily increase loan costs for everybody. But the protections for somebody faced with losing a house should be at least as high as those for somebody who gets sued over a plumbers' bill or a bar bet.
Gazprom, Rosneft at War of Succession
Sibneft and Gazprom have reached principal agreement on selling Sibneft stocks to the gas monopoly, Interfax reported Friday, pointing out the deal parameters, including the budget and sources of funding, have not been determined yet. As long as the price remains unclear, it is too early to speak of any agreement, sources of Kommersant insist. As informed earlier, Gazprom is eying the stake of 92 percent in Sibneft (where the principal holders, including Chukotkas governor Roman Abramovich, own 72 percent) and is in talks to raise a loan of $10 billion.
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Austin Lawyer Indicted On Forgery Charges
The indictment said that after Garrison got Howard out of jail with a judge's forged signature, he threatened the family of a police officer. Howard is indicted on three counts of obstruction or retaliation. Garrison already faced drug and theft charges before he got in trouble with the law again, after forging judges' signatures on bonds to get his clients out of jail. According to arrest warrants filed Monday morning, Garrison forged the signatures of at least three judges late last year on bonds for his clients. Included in the warrants is a statement from a witness who went to Garrison for help bailing a friend out of jail. The witness said he watched Garrison forge a judge's signature, saying "I have one more ace up my sleeve." Garrison is a well-known criminal defense lawyer in Austin.
Gazprom, Rosneft at War of Succession
Sibneft and Gazprom have reached principal agreement on selling Sibneft stocks to the gas monopoly, Interfax reported Friday, pointing out the deal parameters, including the budget and sources of funding, have not been determined yet. As long as the price remains unclear, it is too early to speak of any agreement, sources of Kommersant insist. As informed earlier, Gazprom is eying the stake of 92 percent in Sibneft (where the principal holders, including Chukotkas governor Roman Abramovich, own 72 percent) and is in talks to raise a loan of $10 billion.
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McCain and Romney spar over Michigan economy
The people will decide who best fits the robes for the position. They will determine who is going to take home the prize. Mrs. Clinton definetly is more modern than any of the other candidates, but Mr. McCain recieves support from many young people. This year, I know that many young people will vote because they are tired of a stagnat gov't who does nothing for them. I would like to see more change this year in the senate. I hope that the person who takes the presidency will appeal to a younger generation by including us in the decision he/she may make. .
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