Wednesday, February 27, 2013

Homeowner Tax-Filing Tips: What New Owners Should Know | AOL ...

homeowners taxBy Aaron Crowe

Being a homeowner for the first time comes with all kinds of responsibilities that normally don't come with renting. There's yard work, home repairs, picking paint colors, insurance and of course, figuring out your tax liability. American homeownership has long been subsidized by tax savings, and if your real estate agent didn't tell you about them, an accountant or tax preparer will.

"The path to owning a home has a great deal of tax benefits, and a discussion with your tax professional will help to clarify the details," says William Slade, a certified financial planner in California and enrolled agent licensed by the IRS. For many, the deductions available for being a homeowner will allow them to offset their personal exemptions on their paychecks, allowing them to receive more money in their paychecks throughout the year, Slade says. That could be more money to pay a mortgage.

The biggest change new homeowners should know when filing their taxes is they'll need to itemize deductions in Schedule A, which is more complicated than the standard deduction they may have taken on previous tax returns. Itemized deductions for new homeowners include mortgage interest, property taxes, points paid on a home loan, mortgage insurance and charitable contributions (such as cleaning out a garage and donating clothes to charity). Homeowners who haven't itemized deductions before may also be introduced to other Schedule A items such as personal property tax, state tax withholding and charitable contributions that can lead to a bigger overall tax deduction, Slade says. The savings is based on your tax bracket. If your tax rate is 33%, then for each dollar of mortgage interest spent you save 33 cents.

Slade says he is regularly asked if home improvements such as adding rooms, remodeling and landscaping will help on taxes. They won't when they're being done, but they will help when the property is sold by increasing the cost basis and lowering the gains on the sale, he says. Coupled with the tax exclusion, a home sale usually means most homeowners won't pay capital gains taxes on the sale if it's their primary residence, they've lived there for two of five years, and have a tax exclusion of $250,000 for a single person or $500,000 for married couples, Slade says.

The American Taxpayer Relief Act of 2012, which President Obama signed on Jan. 1 to avoid the "fiscal cliff," helps homeowners by restoring two tax breaks. The first is the deduction for mortgage insurance premiums. Lenders often require the insurance if the loan balance is for more than 78% of the home's value. The second reclaimed tax break is a credit of up to $500 for making certain improvements that increase a home's energy efficiency. A credit is money taken off the amount owed to the IRS. The tax credit is typically 10%, up to $500 total, for buying and installing certain products such as a new water heater, central air conditioner, insulation, windows or roof.

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How a Mortgage Can Affect Your Credit
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Source: http://realestate.aol.com/blog/2013/02/26/homeowner-tax-filing-tips/

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British cardinal will skip upcoming papal conclave

VATICAN CITY (AP) ? In a season of startling change for the Catholic Church, the latest break with tradition was as unexpected as it was a wakeup call to the 115 men who will elect the next pope.

Britain's highest-ranking Catholic leader resigned and removed himself Monday from the upcoming conclave, saying he did not want allegations that he engaged in improper conduct with priests to be a distraction during the solemn process of choosing the next leader of the church's 1.2 billion-member flock.

It was the first time a cardinal has recused himself from a conclave because of personal scandal, according to Vatican historians.

The Vatican insisted that Pope Benedict XVI accepted Cardinal Keith O'Brien's resignation purely because O'Brien was nearing the retirement age of 75 ? not because of the accusations.

But O'Brien himself issued a statement Monday saying he would skip the conclave because he wanted to avoid becoming the focus of media attention at such a delicate time.

"I do not wish media attention in Rome to be focused on me ? but rather on Pope Benedict XVI and on his successor," said O'Brien, who had been archbishop of St. Andrews and Edinburgh. "However, I will pray with them and for them that, enlightened by the Holy Spirit, they will make the correct choice for the future good of the church."

Through his spokesman, O'Brien has contested allegations made Sunday in a British newspaper that three priests and a former priest had filed complaints to the Vatican alleging that the cardinal acted inappropriately with them.

There were no details about the behavior, and the Observer newspaper did not name the priests. It said the allegations date back to the 1980s.

The cardinal's action comes in the wake of a grassroots campaign to shame another cardinal, retired Los Angeles Cardinal Roger Mahony, into refraining from participating because of his role protecting sexually abusive priests.

Mahony, however, has defiantly said he would participate in the voting for the new pope.

The difference boils down to the fact that O'Brien himself was accused of improper behavior, whereas Mahony was shown to have covered up for other priests who raped and molested children. That distinction has long shielded bishops from Vatican sanction.

Several other cardinals who will elect the next pope have been accused ? and some have admitted ? to failing to protect children from abusive priests. If all of them were to recuse themselves for negligence, the College of Cardinals would shrink by quite a few members.

Terrence McKiernan of BishopAccountability.org, an online database of records on clergy abuse cases, urged other whistleblowers to come forward if they have information about other compromised cardinal electors.

"It is a public demonstration of the role that clerics with inside information can have in bringing accountability to a church where secrecy has led to a crisis of sexual misconduct," he said. "Cardinals who are tainted by the crisis cannot choose the person who will solve it."

With O'Brien's recusal and the decision of a frail Indonesian cardinal to stay home, there are expected to be 115 cardinals under age 80 who are eligible to vote in the conclave.

Separately Monday, Benedict changed the rules of the conclave, allowing cardinals to move up the start date if all of them arrive in Rome before the usual 15-day waiting period between the end of one pontificate and the start of the conclave. It was one of his last acts as pope before stepping down Thursday.

The date of the conclave's start is important because Holy Week begins March 24, and Easter Sunday is March 31. In order to have a new pope in place for the church's most solemn liturgical period, he would need to be installed by Sunday, March 17, a tight timeframe if a conclave were to start on March 15, as previous rules would have required.

Also Monday, Benedict decided that the contents of a secret investigation into the 2012 leaks of Vatican documents won't be shared with the cardinals ahead of the conclave. Benedict met Monday with the three elderly cardinals who conducted the probe and decided that "the acts of the investigation, known only to himself, remain solely at the disposition of the new pope," a Vatican statement said.

Speculation has been rife in the Italian media that the three cardinals ? Julian Herranz, Jozef Tomko and Salvatore De Giorgi ? would be authorized to share the information with fellow cardinals before the conclave. That assumed the cardinal electors would want to know details about the state of dysfunction in the Vatican bureaucracy and on any potentially compromised colleagues before possibly voting one into office.

Benedict appointed the three men last year to investigate the origins of leaks, which revealed petty wrangling, corruption, cronyism and even allegations that senior Vatican officials conspired to out a prominent Catholic newspaper editor as gay.

The pope's butler was convicted of aggravated theft in October for having stolen the papers and given them to a journalist who then published them in a blockbuster book.

The three cardinals cannot share the full contents of their investigation, but it's unclear if they could give subtle hints about potential papal candidates to the electors. The Vatican's assertion that only the pope knew the contents of the dossier was a clear message to readers of Italian newspapers, which have run several articles purporting to know the contents of the report.

O'Brien's decision to remain home rather than participate in the conclave made his the first head to roll in the remarkable two weeks since Benedict, 85, stunned the world and announced he was becoming the first pope in 600 years to resign.

Monday's announcement marked a dramatic end to a career that got off to a rocky start when in 2003, as a condition of being made a cardinal, O'Brien was forced to issue a public pledge to defend church teaching on homosexuality, celibacy and contraception. He was pressured to make the pledge after he had called for a "full and open discussion" on such matters.

At the time, O'Brien said he had been misunderstood and wanted to clarify his position. But it's clear now he never really changed his mind. On Friday, three days before his resignation was made public, O'Brien told the BBC that celibacy should be reconsidered since it's not based on doctrine but rather church tradition and "is not of divine origin."

It appeared to be something of a parting shot, reasserting beliefs that he had kept quiet for a decade.

At home, at O'Brien's St. Mary's Roman Catholic Cathedral in Edinburgh, his decision was met with shock and disbelief.

"There are a lot of unanswered questions here, and I am unhappy about that. People can make such serious charges while remaining anonymous," said David Murphy, an administrator from Edinburgh. "It's like he's been hounded out of office without a proper chance to defend himself."

But Peter Mitchell, a churchgoer from Fife, conceded that the church may have to brace itself for scandal. "These don't appear to be random allegations. We are talking about three serving priests who are being very specific, and I don't think they would lie in this way."

O'Brien said in a statement that he was in "indifferent health" and had offered his resignation last November ? a statement confirmed by the Vatican spokesman, the Rev. Federico Lombardi.

Lombardi said the pope had merely acted on the resignation now as he clears up final tasks before stepping down. Usually the pope waits until after a cardinal's 75th birthday to accept a resignation. In this case, Benedict acted a few weeks early.

___

Katz reported from London

___

Associated Press Writer Ben McConville in Edinburgh also contributed to this report.

Source: http://news.yahoo.com/british-cardinal-skip-upcoming-papal-conclave-210958525.html

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Tuesday, February 26, 2013

Hands-on with Tizen 2.0 on Samsung's developer handset (video)

Handson with Tizen 20 on Samsung's developer handset video

Shuffle along, shuffle along, because this couch is about to get crowded. Alongside the big four, we now have Ubuntu, Firefox OS and the latest version of Tizen all elbowing each other for room. Tizen has one particularly strong backer, Samsung, who built the reference device we play with in the video after the break, and whereas Firefox OS is destined only for the low-end, Tizen seems far more ambitious -- at least judging from the 720p resolution of this developer handset. Since the introduction of version 2.0, the OS is designed to run both native and HTML5 apps, or apps which mix the two layers -- such as the Vimeo app you'll see in the video, which has a web-based interface but accesses the hardware for the purpose of video acceleration.

Huge swathes of the interface are remarkable only by their familiarity: a home screen with a grid of apps; a single navigation button to take you back to this screen or alternatively to a multi-tasking screen by way of a long press; and a top-to-bottom pull-down for notifications and quick access to settings. It's basic, but it represents pretty much what all these new operating systems are supposed to be: ways of getting functionality that is at least close to Android but without all the licensing costs associated with running Google services. Beyond that, however, Tizen at least seems capable of delivering smartphone fundamentals like a fast camera (with burst mode, incidentally). Tizen's mostly likely rival will be Ubuntu, at least once that other Linux-based OS progresses beyond entry-level phones at some point in 2014. From the sound of it though, Tizen is about to beat it to the punch.

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/5HSoNL9A_1M/

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'Just make the cuts'

Washington is in panic mode over the so-called sequester?automatic, across-the-board spending cuts set to be triggered March 1 if Congress and the White House can't reach a deficit reduction deal. Just days before the federal budget will be forced to shave less than 3 percent from its annual budget, politicos from President Barack Obama to Republican House Speaker John Boehner are prophesying Armageddon.

But while most lawmakers flail through the nation's capital as if their hair just caught fire, a coalition of conservative groups are urging lawmakers to stop worrying and learn to love the sequester.

Americans for Prosperity, for example, is one of a few organizations hailing the looming budget cuts as a potential victory. The group, backed by billionaire industrialists Charles and David Koch, has dispatched members from its network of activists to visit 10 lawmakers' state offices in Florida, North Carolina, Arkansas and Minnesota urging them to let the across-the-board cuts take their course. The group is also circulating a petition arguing that sequestration is "not enough" and plans to release online ads.

"Just make the cuts," AFP President Tim Phillips told Yahoo News in an interview. "These are modest cuts. It's about 2 cents roughly on every dollar of federal spending."

Meanwhile, AFP is urging its 2.3 million members to flood congressional officers with letters calling on them not to make a deal to avoid the cuts. "Thankfully, Congress and the President have already agreed to cut $85 billion from the budget this year," the form letter reads. "That?s not enough but it?s a good first step. I urge you not to undo those spending cuts."

The sequestration plan, crafted in 2011 as part of deficit reduction negotiations to encourage both Republicans and Democrats to find a compromise, will affect both domestic discretionary spending and the defense budget. Phillips conceded that he felt the defense cuts were "disproportionately tough," but said it was worth it to achieve that level of spending cuts.

"The president and Senate Democrats all agreed to this during the debt limit deal," he said. "They ought to keep their word."

Meanwhile, a group of nearly 50 leaders of conservative organizations signed onto a letter that called for passage of the cuts?even those that affect the Pentagon, an area of government spending the right rarely likes to touch.

"While many conservatives would prefer reprogramming defense cuts to other areas of discretionary spending (dollar for dollar cuts in the same year), the current sequester savings are better than none at all," the letter, signed by Club for Growth President Chris Chocala, former attorney general Edwin Meese, who served under President Ronald Reagan, and others, read.

At least for now, all signs suggest these groups will get their wish. The Senate this week is poised to vote on a Democrat-sponsored deficit-reduction package that mixes spending cuts with tax increases, but Republicans in the House and Senate have refused to approve any measure that increases taxes. Lawmakers have until Friday to secure a deal.

Source: http://news.yahoo.com/blogs/ticket/sequestration-lawmakers-wail-while-conservatives-hail-181304695--politics.html

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Syria says it's prepared to talk with armed rebels

BEIRUT (AP) ? Syria said Monday it is prepared to hold talks with armed rebels bent on overthrowing President Bashar Assad, the clearest signal yet that the regime is growing increasingly nervous about its long-term prospects to hold onto power as opposition fighters make slow but persistent headway in the civil war.

Meanwhile, the umbrella group for Syrian opposition parties said it had reversed a decision to boycott a conference in Rome being held to help drum up financial and political support for the opposition. Walid al-Bunni, a spokesman for the Syrian National Coalition, said the move came after a phone call between the group's leader, Mouaz al-Khatib, and U.S. Secretary of State John Kerry.

Al-Bunni told pan-Arab broadcaster Al-Arabiya the decision was made based on guarantees al-Khatib heard from Western diplomats that the conference would be different this time. He did not elaborate. The boycott had put the group at odds with its international backers.

The Syrian talks offer, made by Foreign Minister Walid al-Moallem during a visit to Moscow, came hours before residents of Damascus and state-run TV reported a huge explosion and a series of smaller blasts in the capital, followed by heavy gunfire.

State-run news agency SANA said there were multiple casualties from the explosion, which it said was a suicide car bombing. Britain-based activist group the Syrian Observatory for Human Rights said the explosions targeted a checkpoint, adding there were initial reports of at least five regime forces killed and several wounded.

The talks proposal marked the first time that a high-ranking regime official has stated publicly that Damascus would be willing to meet with the armed opposition. But al-Moallem did not spell out whether rebels would first have to lay down their weapons before negotiations could begin - a crucial sticking point in the past.

The regime's offer is unlikely to lead to talks. The rebels battling the Syrian military have vowed to stop at nothing less than Assad's downfall and are unlikely to agree to sit down with a leader they accuse of mass atrocities.

But the timing of the proposal suggests the regime is warming to the idea of a settlement as it struggles to hold territory and claw back ground it has lost to the rebels in the nearly 2-year-old conflict.

Opposition fighters have scored several tactical victories in recent weeks, capturing the nation's largest hydroelectric dam and overtaking air bases in the northeast. In Damascus, they have advanced from their strongholds in the suburbs into neighborhoods in the northeast and southern rim of the capital, while peppering the center of the city with mortar rounds for days.

Monday night's explosion struck about 800 meters (yards) from Abbasid Square, a landmark plaza in central Damascus. It was followed by several other smaller blasts thought to be mortar shells landing in various districts of the capital. The explosions and subsequent gunfire caused panic among residents who hid in their apartments.

On Thursday, a car bomb near the ruling Baath Party headquarters in Damascus killed at least 53 people, according to state media.

While the momentum appears to be shifting in the rebels' direction, the regime's grip on Damascus remains firm, and Assad's fall is far from imminent.

Still, Monday's offer to negotiate with the armed opposition - those whom Assad referred to only in January as "murderous criminals" and refused to talk with - reflects the regime's realization that in the long run, its chances of keeping its grip on power are slim.

Asked about al-Moallem's remarks, U.S. State Department spokesman Patrick Ventrell said the offer of talks was a positive step "in the context of them raining Scuds down on their own civilians." But he expressed caution about the seriousness of the offer.

"I don't know their motivations, other than to say they continue to rain down horrific attacks on their own people," Ventrell told reporters in Washington. "So that speaks pretty loudly and clearly."

If the Assad regime is serious, he said, it should inform the U.N. peace envoy, Lakhdar Brahimi of its readiness for talks. Ventrell said the regime hasn't done that yet.

Andrew Tabler, a fellow at the Washington Institute for Near East Policy, called the offer "a sign of weakness."

"I think everybody knows, including Bashar Assad, that they (the regime) can't hang onto the whole country," Tabler said.

Mustafa Alani, an analyst with the Gulf Research Center in Geneva, said the regime has "reached the conclusion that they are heading toward a major defeat eventually, and this is the right time to negotiate."

"They are not losing miles every day, but they are losing substantial ground every day. So the regime is not genuine (in its offer) because it has changed, it's genuine because it is responding to a major shift in the balance of power on the ground," he added.

Alani cautioned, however, that the regime is also eager to keep the idea of talks alive in order to forestall any Western decision on arming the rebels. As long as the possibility of negotiations is still on the table, the U.S. and the European Union - which have so far provided only non-lethal aid - will be reluctant to open the flood gates on weapons for the opposition, he said.

"The whole regime tactic is to delay supplying arms, to buy time," Alani said. "The regime can show good will. Whether they're a viable partner or not is a different story."

It's also unclear who exactly the regime would sit across from at the negotiating table.

The dozens of armed groups across Syria fall under no unified command and do not answer to the Syrian National Council, which the West recognizes as the legitimate representative of the Syrian people.

At least one group offered a lukewarm response Monday to al-Moallem's proposal. Free Syrian Army chief Gen. Salim Idriss, said he is "ready to take part in dialogue within specific frameworks," but then rattled off conditions that the regime has rejected in the past.

"There needs to be a clear decision on the resignation of the head of the criminal gang, Bashar Assad, and for those who participated in the killing of the Syrian people to be put on trial," Idriss told Al-Arabiya TV.

He said the government must agree to stop all kinds of violence and to hand over power, stating that "as rebels, this is our bottom line."

Syria's 23-month-old conflict, which has killed more than 70,000 people and destroyed many of the country's cities, has repeatedly confounded international efforts to bring the parties together to end the bloodshed. Russia, a close ally of Assad and his regime's chief international advocate, offered Feb. 20, in concert with the Arab League, to broker talks between the rebels and the government.

With the proposal, which the Kremlin would be unlikely to float publicly without first securing Damascus' word that it would indeed take part, Moscow ratcheted up the pressure on Syria to talk to the opposition.

Russia has shielded Assad's government from U.N. action and kept shipping weapons to the military, but it is growing increasingly difficult to protect the regime as the violence grinds on.

Russian Foreign Minister Sergey Lavrov repeated his call Monday for Syria to negotiate with the opposition, saying before meeting al-Moallem that "the situation in Syria is at a crossroads now." He also warned that further fighting could lead to "the breakup of the Syrian state."

Past government offers for talks with the opposition have included a host of conditions, such as demanding that the rebels first lay down their arms. Those proposals have been swiftly rejected by both activists outside Syria and rebels on the ground.

Both sides in the conflict in recent weeks have floated offers and counteroffers to hold talks on the crisis.

In a speech in January, Assad offered to lead a national dialogue to end the bloodshed, but said he would not talk with the armed opposition and vowed to keep fighting. The opposition rejected the proposal.

This month, the SNC's al-Khatib said he would be open to discussions with the regime that could pave the way for Assad's departure, but that the government must first release tens of thousands of detainees. The government refused, and even members within the coalition balked at the idea of talks.

Speaking to reporters Monday in Cairo, al-Khatib accused the regime of procrastinating and said it had derailed his dialogue offer by not responding to the coalition's conditions.

"We are always open to initiatives that stop the killing and destruction, but the regime rejected the simplest of humanitarian conditions. We have asked that the regime start by releasing women prisoners and there was no response," he said. "This regime must understand that the Syrian people do not want it anymore."

The U.S.'s Kerry on Monday urged rebel leaders not to skip the Rome meeting and insisted that more help is on the way.

Kerry made a public plea at a joint news conference with British Foreign Secretary William Hague and also called al-Khatib "to encourage him to come to Rome," a senior U.S. official said. The official spoke on condition of anonymity because he wasn't authorized to speak publicly on the matter.

Meanwhile, the fighting inside Syria rages on.

The Observatory reported heavy clashes Monday near a police academy in Khan al-Asal just outside Aleppo.

Rebels backed by captured tanks launched an offensive on the facility Sunday. Observatory director Rami Abdul-Rahman said at least 13 rebels and five regime troops were killed.

In another part of Aleppo, rebels downed a military helicopter near the Mennegh airport, where there have been fierce clashes for months.

A video posted online by activists showed a missile being fired, a trail of white smoke and the aircraft going up in flames. Voices in the background shouted, "God is great!" as a man raised both hands in celebration.

The video appeared to be authentic and corresponded to other AP reporting.

___

Associated Press writers Nataliya Vasilyeva in Moscow, Albert Aji in Damascus, Zeina Karam in Beirut, Matthew Lee in London, Bradley Klapper in Washington and Geir Moulson in Berlin contributed to this report.

Source: http://news.yahoo.com/syria-says-prepared-talk-armed-rebels-195253563.html

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Monday, February 25, 2013

Join the Engadget HD Podcast live on Ustream at 8:30PM ET

Join the Engadget HD Podcast live on Ustream at 530PM ET

Two in a row, that was a good run, but it's over as once again we are off our regularly scheduled time for the Engadget HD podcast. Hopefully this later time still works for you, as we don't know how we can go on recording without you at at 8:30PM tonight. If it does still work for you go ahead and get ready by reviewing the list of topics after the break, then you'll be ready to participate in the live chat.

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Source: http://www.engadget.com/2013/02/25/join-the-engadget-hd-podcast-live-on-ustream-at-8-30pm-et/

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PFT: Is Te'o gay? Teams want to know? |? Florio

Sharrif Floyd

Florida defensive tackle Sharrif Floyd said last week at the NFL Scouting Combine that he?s ?been getting ready to put on a show here.?

He did just that this morning, running a pair of sub-5.0 second 40s at nearly 300 pounds. The question now becomes, would it qualify as a show he wants to watch?

While Floyd?s ability to rush the passer and his athletic talent will make him a high pick, he raised more than a few eyebrows during his media interviews, when he admitted he wasn?t much of a football fan.

Asked the fairly standard question of which player he modeled his game after, Floyd replied: ?I haven?t really watched the league in a long time. I first started watching it in 2007, but I did get to know Ndamukong Suh in 2010 so we have a good relationship and I?ve watched him play a couple of times.?

That?s right, a possible Top 10 pick in the NFL Draft only started watching football six years ago. And it?s not as if he?s one of the foreign-born players from a land where football wasn?t readily available around the clock. He grew up in Philadelphia, a place where there seems to be some degree of interest in the NFL.

Asked to elaborate on the fact he didn?t watch football until recently, Floyd said ?The first game I ever watched was the Super Bowl when the Colts won it in 2007.?

?It wasn?t that there was no interest, I just didn?t know nothing about it, so there was no reason to watch it,? he continued. ?Even when I started playing there was no?interest in watching it because I liked to play it instead of sitting down and being still and watching a game while all my friends were jumping around and getting excited for no reason.

?It just wasn?t a preference of mine, but now it is so I watch it and play it now.?

Asked what he was watching instead, Floyd talked about the Disney Channel and Cartoon Network.

Don?t get me wrong, as the parent of young children, there?s a good bit of Looney Toons on hand in my home as well. And away from work, I respect people who are well-rounded, and can talk about something other than football.

But a team is about to invest millions of dollars in a man who may or may not like the game he?s about to turn into a career.

We know he?s motivated now, having trained specifically for the Combine to put on the kind of show that would boost his draft stock and make him financially secure.

But how motivated will he be come the dog days of training camp, or a Wednesday practice in November when his team might be out of the playoff hunt?

Will he be watching film of his next opponent, or catching up on That?s So Raven re-runs?

It?s possible to be great at football without being absorbed by it, but it?s probably not the kind of thing you want to admit at a job interview, either.

Source: http://profootballtalk.nbcsports.com/2013/02/24/sexuality-remains-the-elephant-in-the-room-for-teo/related/

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