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Ivey Homes Participates in Local Food Drive!

Categories: News | Posted: April 17, 2015

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This is Hull Barrett’s 4th year and First Citizens’ 2nd year participating in Legal Food Frenzy.  New to the partnership is Ivey Residential!  Firehouse Subs also offered an in-kind donation (more info below).

A company that is doing business in the community should also SERVE the community.  We realize mere monetary donation from the firm is not enough to make a real dent in the hunger stats that face the CSRA and surrounding areas.

Hull Barrett, First Citizens and Ivey Residential are looking to spend more time and effort to bring awareness to the food insecurity and hunger statistics, and more, to do something about it.

Lindsey Swartzbaugh is the Director of Marketing for Hull Barrett, PC (law firm).

Rebecca Plankey is the VP, Sales and Retail Manager at First Citizens.

Caroline Ashe is the Sales & Marketing Director for Ivey Residential.

3 companies, working together, have a real shot at making a difference.  We have set an ambitious goal of 45,000 lbs of food and funds, a goal that cannot be met without the help of the public’s generosity.

What is the Legal Food Frenzy?

4th Annual Legal Food Frenzy, April 20 – May 1, 2015.

The Office of the Attorney General, the Young Lawyers Division of the State Bar of Georgia, and the Georgia Food Bank Association have joined forces to create a friendly food and fund drive food banks in Georgia.

Nearly 60% of Georgia’s public school children are eligible for free and reduced lunch.

1 in 5 Georgians – are food insecure, meaning they don’t always know where they will find their next meal.

1 in 4 children in Georgia are food insecure.

The Legal Food Frenzy provides a much needed supply of food and funds to Georgia’s regional food banks to help the families of those kids during summer months when schools are closed.  The Legal Food Frenzy is timed to help meet that demand.

Golden Harvest hopes to raise $42,000 during Legal Food Frenzy.  Our partnership would like to be 20% of that goal.  That’s high!  But possible with the help of the community!

How are we going to do it?

First Citizens will have barrels in each branch location to collect food and funds during the 2 week drive.  In addition, they are hosting “Food Friday” on April 24th!  Every customer that brings in food or funds to a First Citizens location will receive a coupon for a free drink and chips at Firehouse Subs.  Thanks to Firehouse Subs for its generous gift and contribution!

April 18th Ivey Homes will be announcing the Food Frenzy benefiting Golden Harvest Food Bank in our communities; Crawford Creek in Evans and Canterbury Farms in Grovetown.  Homeowners will receive mailbox flyers with Food Frenzy details including instructions on how to make online donations and community donation locals. Ivey Homes will gather donations and food on Sunday, April 26th from 10am-2pm in the communities.

Hull Barrett will also have barrels in its offices in Augusta, Aiken and Evans.  Hull Barrett is going to take a grass roots approach with each attorney in the office reaching out and connecting in his or her own personal way.  We are also going to do a drawing the last day of the food drive, May 1.  Anyone that donates online will be entered to win!  Hull Barrett will also offer other prizes and incentives along the way, but you will have to stay tuned as the days progress to hear more about that.  We have an ambitious goal that we are working together to reach.  George Roberston, an attorney at Hull Barrett, is also working to get other law firms to participate – there are currently about 16.

Ivey Homes is a leading new home builder in Augusta, GA, with home pricing ranging from the $140,000’s to Custom. For more information about living in or building a new home in Columbia County, Richmond County or Augusta, visit iveyhomes.com! Drop us a line with feedback or questions. Don’t forget to check out our Facebook page, too!

Homeowners enjoy a variety of tax breaks.

Categories: Home Ownership, Tips | Posted: April 15, 2015

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With tax season upon us, it’s a good idea to remind new (and potential) homeowners that in addition to the joy of owning your own home, you also inherit new tax considerations. The good news is you can deduct many home-related expenses. These tax breaks are available for any abode, whether single-family home, townhouse or condominium. The bad news is your taxes will get more complicated. In most cases, homeowners itemize. That means you move to Form 1040 and Schedule A, where you’ll have to detail your tax-deductible expenses.

If you do find that itemizing is best for your tax situation, here’s a look at homeowner expenses you can deduct on Schedule A.

  1. Mortgage interest

Your biggest tax break is reflected in the house payment you make each month since, for most homeowners, the bulk of that check goes toward interest. And all that interest is deductible, unless your loan is more than $1 million. Interest tax breaks don’t end with your home’s first mortgage. Did you pull out extra cash through refinancing? Or did you decide instead to get a home equity loan or line of credit? Generally, equity debts of $100,000 or less are fully deductible.

  1. Points

Did you pay points to get a better rate on any of your various home loans? They offer a tax break, too. The only issue is exactly when you get to claim them. The IRS lets you deduct points in the year you paid them if, among other things, the loan is to purchase or build your main home, payment of points is an established business practice in your area and the points were within the usual range. Make sure your loan meets all the qualification requirements so that you can deduct points all at once.

  1. Taxes

The other major deduction in connection with your home is property taxes.

A big part of most monthly loan payments is taxes, which go into an escrow account for payment once a year. This amount should be included on the annual statement you get from your lender, along with your loan interest information. These taxes will be an annual deduction as long as you own your home. If this is your first tax year in your house, dig out the settlement sheet you got at closing to find additional tax payment data. When the property was transferred from the seller to you, the year’s tax payments were divided so that each of you paid the taxes for that portion of the tax year during which you owned the home. Your share of these taxes is fully deductible.

  1. Home improvements

Save receipts and records for all improvements you make to your home, such as landscaping, storm windows, fences, a new energy-efficient furnace and any additions. You can’t deduct these expenses now, but when you sell your home the cost of the improvements is added to the purchase price of your home to determine the cost basis in your home for tax purposes. Although most home-sale profit is now tax-free, it’s possible for the IRS to demand part of your profit when you sell. Keeping track of your cost basis will help limit the potential tax bill.

  1. Energy credits

Some energy-saving home improvements can earn you an additional tax break in the form of an energy tax credit worth up to $500. A tax credit is more valuable than a tax deduction because a credit reduces your tax bill dollar-for-dollar. You can get a credit for up to 10% of the cost of qualifying energy-efficient skylights, outside doors and windows, insulation systems, and roofs, as well as qualifying central air conditioners, heat pumps, furnaces, water heaters, and water boilers. There is a completely separate credit equal to 30% of the cost of more expensive and exotic energy-efficient equipment, including qualifying solar-powered generators and water heaters. In most cases there is no dollar cap on this credit.

What’s not tax deductible

While many tax breaks are available to a homeowner, there are a few things for which you have to bear the full cost.

  • Private mortgage insurance, or PMI, is a cost you probably won’t be able to deduct, unless you meet the requirements of a special PMI law.
  • Property hazard insurance premiums remain non-deductible, even though the coverage generally is required as part of the home loan and is included as a portion of your monthly payment.
  • Homeowners association dues, any additional principal payments you make, depreciation of your home, and general closing costs and local assessments to increase the value of your neighborhood, such as construction of new sidewalks or utility connections, are non-deductible.

Ivey Homes is a leading new home builder in Augusta, GA, with home pricing ranging from the $140,000’s to Custom. For more information about living in or building a new home in Columbia County, Richmond County or Augusta, visit iveyhomes.com! Drop us a line with feedback or questions. Don’t forget to check out our Facebook page, too!

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