Great Questions Regarding Premium Listing House http://bit.ly/ndrhOc Mandy asks…I live in MD and will be move to Tenn who do I speak to about put my name on list for low income housing?How many different housing programs is there for low income people living off disability? Do they all require 30% of your gross disability amount. Or is the 30% taken from the amount left over after they take out for your Medicare Premium which in my case is $96.40.Larry McCann answers:There are several programs. You can not apply if you do not already reside or work in the county though. You will have to move first.Jenny asks…Where can I add my name to health insurance waiting list and what are average waiting times?In our state we imposed rent controls 10 years ago to help the poor with more affordable housing, and apartments available for rent disappeared from the market for some mysterious reason. I spent 6 years on a waiting list and still my turn never came. To tell you the truth almost all vacancies are filled either through bribes or nepotism.

One week ago our Governor imposed price controls on health care insurance premiums to help the poor with more affordable health care, and policies available for purchases disappeared from the market for some mysterious reason.Larry McCann answers:You have the wrong perspective on government assistance. Many cities have public housing waitlists for 10 years long like Los Angeles but there are waitlists for Section 8 vouchers that are another program. That usually takes 4 -5 years. Rent control was not for poor people. It was aimed at preventing price-gouging by unscrupulous owners who could rent for more money but the regulation did not eliminate housing units it enabled middle income people to have housing. If you are middle income you can apply for some programs. The new health insurance plan which helps everyone to be insured starts in 4 years.

Over the years, there has not been enough affordable housing units built to keep up with demand as the economy has put more people into the poverty class. Price controls help everyone except the wealthy. If insurance companies don't issue as many policies, that shows you they are greedy and single-minded and have no social conscience. Price controls don't help the poor because they cannot afford anything to begin with and have their own programs.

There has to be a balance between government interference in private business for social justice, and letting the private market function with wild abandon. Government has limits on its powers. It does not always work out to make everyone happy. We have economists and cost accountants who figure these things out. Otherwise you'd have a country with no laws and no functioning government.Donna asks…Can I deduct the points paid on tax refund?I received a 1098 and it has an amount listed in box 2 under points paid on purchase of principal residence. I just bought the house in August and this 1098 came from the bank I originally bought the house through. They only held the account for one month and sold it to another bank as they do not hold mortgage accounts for longer than 1 month. It also has amounts in the interest received and the mortgage insurance premiums. Any advise?Larry McCann answers:Yes they are deductible on schedule A if you have enough to itemize.
Your total itemized deductions should be more than your standard deduction to benefit you. You can claim on schedule A such things a medical expenses in excess of 71/2 of you adjusted gross income,mortgage interest and points, property taxes, sales tax or state and local income tax., Charity,and unreimbursed employee business expenses in excess of 2% of your adjusted gross income.

I am sending you a few links that might be helpful.

Christine EA Master Tax Adviser
Check out my profile

This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. Http://www.hrblock.com/taxes/tax_tips/index.html
http://bit.ly/jo0JtCarol asks…What do you think YOUR monthly Health Premiums will cost?My daughter has 4 children and she pays 480.00 a month for a family plan. she expects that to more than double under the health care plan.

We have a handicapped child that will raise the new premiums

.http://www.house.gov/apps/list/press/tx08_brady/pr_100728_hc_chart.html
Rocky Mtn High,
Exactly. I had one child BECAUSE that was how many I felt I could afford and I have always paid cash. I may spend $600 a year and that covers prescriptions!Larry McCann answers:Specifically why do you expect your premiums to increase? Because the insurance companies are forced to take sick people with pre-existing conditions and they will pass the cost of paying claims on to everyone else? Well, that is why we should have voted for a public option but the public did not see that as a good solution. It would have pressured the private insurers to reduce their premiums.Lisa asks…My house was burglarized on April 13, 08. I have insurance but not a cent has been paid to me..what can I do?Yes, the premiums were paid and the insurance was in force and yes it was a homeowners policy which covers burglary. I have complied with all of their document requests, listing of all stolen items with pricing on THEIR form, copy of police report, copy of phone log, undergone interview by their own hired investigator, provided company name and info for the hiring of rental truck that was to bring furniture back to our other residence. I have done everything they have asked and they are still "investigating". I am out $50K on this and they still haven't paid me a cent. July 13 will have been three months since the incident....what can I do to get these guys? Help me people!Larry McCann answers:50K is a lot of money. I am not surprised they are still investigating.

Have you called them to see how much longer you can expect this to take? Really, that seems to be the only thing you can do at this point. Do you know who the adjuster is? Speak to them directly.Mary asks…Can my homeowners insurance REQUIRE receipts for everything taken during a break-in?I recently had my car broken into in front of my house, as did 7 other neighbors. We had several items taken: Zune, baseball tickets, passport, wallet, noise canceling earphones, sunglasses, prescription glasses, watch (I know it was dumb to have that much stuff in the glove compartment and center console). Anyway, we filed a police report and then filed a insurance claim. I was told to send in a list of items that were lost, approx. how old the items are, and what the cost to replace the item will be. Well, I just received a letter stating I need to provide receipts for the items. I called the insurance office and said I don't have receipts for the Zune but I have a serial #, I don't have a receipt for my passport (I can show pictures of Europe and can provide the stolen passport #), I don't have anything for the noise canceling earphones because they were a Christmas gift, but I can provide info for the watch, glasses, sunglasses. I was told that I need to call my in-laws to ask them for a receipt for the headphones, which I did and they don't have anything (it has been 9 months). I was told I need to figure out something else to provide proof that I had a passport. Is this legit? What can I do? It seems like they are making me out to be the criminal. I have had the same insurance company for my cars and homeowners since 1996 and have not made any claims on either policy! The insurance company sure has no problems collecting my premiums but when something happens they sure don't want to have to pay.Larry McCann answers:The federal government keeps records of the passports that they issue. They can look up the passport number in their computer and verify that it was issued to you.

Also, you should immediately report the theft of the passport to the federal agency that issues them, so that they can flag it in their computers to ensure that anyone attempting to use it to enter the U.S. Gets stopped.Maria asks…If 2 sisters buy a house together...?and they are both listed as owners of the property and are both on the mortgage, can only one of them claim the new homeowner credit and the mortgage insurance premiums, taxes, etc or must they split the credits/deductions?Larry McCann answers:You claim what you actually paid as far as deductions are concerned. You may split the FTHB credit any way that you choose. A 50-50 split is common but it's up to the two of you to decide. The only restriction is that if either of you are ineligible that person cannot claim any of it. The other could claim the entire credit though since you are not married to each other.Daniel asks…Unmarried, co home owners, how would itemizing work?I have a good question for a tax guru.

Me and my boyfriend co-own a house. We're unmarried (obviously).

We received a statement from our bank which has listed the interest paid...the taxes paid....and the mortgage insurance premiums paid.

I'm wondering if this is any relevance to us and how we should (if we should) go about claiming it. Would just 1 of us be able to itemize it....or would we both have to split it and itemize it? (I believe if we split it and itemize it, it would come out to less than a standard deduction).Larry McCann answers:If you both paid the house payments equally you can split the deductions. If he paid all then he deducts all. This is probably better anyway since splitting puts you below the standard deduction. If his SS number is on the 1098 form this should be no problem.Powered by Yahoo! Answers