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Honey Brown Hope Foundation Rakes in National, State and Local Recognition

Honey Brown Hope Foundation Rakes in National, State and Local Recognition

Honey Brown Hope Foundation

Houston, TX — The Honey Brown Hope Foundation, a nationally recognized, award-winning 501(c)3 non-profit that has served youth and their families for over two decades, announced today that it is thankful this holiday season for recently being recognized for its civil rights

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Community Empowerment: Black Chambers of Commerce Where Is My Patronage?

Community Empowerment: Black Chambers of Commerce Where Is My Patronage?

Peter Grear

Educate, organize and mobilize -- Back in September I wrote an article entitled, Voter Suppression: Creating Black Wealth.  The impetus for that article was a commentary written by Earl G. Graves, Sr., Publisher of Black Enterprise. 

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Employees of Small, Locally-Owned Businesses Have More Company Loyalty

Employees of Small, Locally-Owned Businesses Have More Company Loyalty

loyalty to employers

Employees who work at small, locally owned businesses have the highest level of loyalty to their employers — and for rural workers, size and ownership of their company figure even more into their commitment than job satisfaction does

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The Pawns of Politics: Where Is My Patronage?

The Pawns of Politics: Where Is My Patronage?

Peter Grear

Educate, organize and mobilize -- For more than a year leading up to the recently completed General Elections, I’ve written about Voter Suppression, gerrymandering, the Black vote and voters.  

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Verbal Abuse in the Workplace: Are Men or Women Most at Risk?

Verbal Abuse in the Workplace: Are Men or Women Most at Risk?

Abuse in the Workplace

There is no significant difference in the prevalence of verbal abuse in the workplace between men and women, according to a systematic review of the literature conducted by researchers at the Institut universitaire de santé mentale de Montréal

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The Decision to Handle Rejection

The Decision to Handle Rejection

Rev. Manson B. Johnson

The Big Idea: Endurance is the key to achieving challenging goals in life.“Man’s rejection can be God’s direction.  God sometimes uses the rejection of hateful people to move us to a new place or assignment–where we wouldn’t have thought of going on our own.  

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Subscribe to Get GDN Print Edition

Subscribe to Get GDN Print Edition

Print Subscription

 Greater Diversity News (GDN) is a statewide publication with national reach and relevance.  We are a chosen news source for underrepresented and underserved communities in North Carolina.  

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It's a Double-Witching Hour for Homebuyers

Written by Featured Organization on 30 July 2010.

Recently, title companies, attorneys, realtors and lenders were all frantically trying to complete closings on pending real estate transactions. June 30, 2010, marked the last day on which homebuyers had to complete settlement on their purchase of a principal residence in order to qualify for either the $8,000 or $6,500 refundable federal tax credit. If you missed the deadline, dont panic  relief is on the way, according to Richard Marmon, an associate professor of accounting in the Rohrer College of Business at Rowan University, Glassboro, N.J., who holds advanced degrees in business, law and tax and is a certified public accountant, certified management accountant and licensed attorney.

The Senate approved the Homebuyer Assistance and Improvement Act of 2010 (HR. 5623) by unanimous consent, the day after the Houses approval by a vote of 409-5. This much-needed legislation, which extends the date on which a taxpayer has to close a real estate purchase to Sept. 30, 2010, was signed by the President on July 2.

In addition, New Jersey Gov. Chris Christie is poised to sign a similar state tax credit available for those who purchase a residence in New Jersey during calendar year 2010 (he has 45 days from June 10). The New Jersey Home Buyer Tax Credit Program (NJHTC) provides home buyers with a refundable tax credit of up to $15,000 or 5 percent of the home purchase price, whichever is less. If passed, this propitious pairing will provide a whopping $23,000 in cash for some taxpayers who buy a home before Oct. 1, 2010.

The federal credit is available for individuals and married couples who have not owned a home in the past three years and are currently under a written binding contract, dated prior to May 1, 2010, for the purchase of a principal residence. The credit, provided for in I.R.C. Code Sec. 36, is equal to the lesser of $8,000 for married couples ($4,000 for married individuals filing separately) or 10 percent of the homes purchase price.

Also, long-time residents who purchase a home after Nov. 9, 2009, may claim the credit as long as they have occupied the same principal residence for at least five consecutive years during the eight-year period ending on the settlement date of the new home. However, the credit for long-time residents is limited to the lesser of $6,500 for married couples ($3,250 for married individuals filing separately) or 10 percent of the homes purchase price. The federal credit has a modified adjusted gross income phase-out between $125,000 and $145,000 (single filers) and $225,000 and $245,000 for those filing a joint return. Other limitations prohibit dependents from claiming the credit, buyers under the age of 18 and any buyer or their spouse related to the seller. Qualified armed service members on official duty outside the U.S. are granted an additional year to settle on their new home for purposes of the credit.