I Don't Understand

I read the following article on Oregonlive.com, and don't understand how it is possible to award this woman money. I think this symbolizes everything that is wrong with the civil court system in America. It doesn't matter what the situation is, if a government entity is involved, you will get money. In this situation, the article states that a woman dressed in all black, crosses TV highway in Beaverton, without a crosswalk, at night, and is hit by a police officer. For some reason the jury awarded the lady $500,000 saying the officer should have seen her. Why?

It's a person in black at night, in a place where there shouldn't be pedestrians! If you are making a bad decision, and get hurt, why should you be rewarded? Don't get me wrong, this is a tragic accident and I'm sure both the woman and the officer have had long term ramifications. But why reward bad behavior? She made a bad choice, and the taxpayers of the City of Beaverton are paying the price. I don't agree with this and am tired of these cities having to pay 6 digit settlements over and over again. I've seen it with the protesters that come into the city and intentionally cause problems. When they are treated as the criminals they are, they sue and the city pays instead of fighting because it's 'cheaper'. However, what are the long term costs of the policy that says, 'Sue us and we'll pay'. I think that is far more expensive!

TIME FOR $8000 TAX CREDIT RUNNING OUT

I have been getting a lot of questions recently about the soon to expire $8000 tax credit. So, the first and most important thing to know is the sale has to close by November 30, 2009. This does not mean you have to write an offer by then, you have to be funded and recorded by then. So, that means the window to take advantage is rapidly closing. As for the rest of the terms, there is a quick summary:

Qualifying first-time homebuyers can claim 10% of the purchase price up to $8,000, or $4,000 for married individuals filing separately. The credit is available for purchases completed on or after January 1, 2009, and before December 1, 2009. The credit is refundable, meaning recipients receive a check for any claim amount beyond what’s owed in taxes.

Eligibility for the first-time homebuyer credit is determined by the date of the completed purchase, not the date of occupancy. One exception is if the home is being constructed, then the date of occupancy is considered the date of purchase. The home must be used as a primary residence (generally defined as where an individual spends more than 50% of their time). To be eligible, the buyer, or either spouse, cannot have owned and used a home as a primary residence within the last three years. A taxpayer who owned a rental property but not a primary residence within the past three years is eligible for the credit.

The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years. There are some exceptions: homes sold as part of a divorce settlement, homes destroyed in a natural disaster, homes subject to condemnation, etc.

To be eligible for the credit, the home cannot be inherited, received as a gift, or purchased from a spouse or related person. The credit applies to any type of new or existing dwelling. Even some houseboats and manufactured homes used as primary residences are eligible. The $8,000 tax credit phases out for individuals with modified annual gross income (MAGI) of $75,000 to $95,000 and married couples with MAGI of $150,000 to $170,000.

If you qualify for the first-time homebuyer tax credit, you can fill out the IRS Form 5405 and claim this amount on line 67 of their 1040 income tax form for 2009. For more information, visit the IRS Newsroom.