Daily Archives: February 29, 2012

Liberty Tax provides four tax measures to check if you are a homeowner filing a 2011 return.

Virginia Beach, VA (PRWEB) February 27, 2012

Mortgage insurance premiums are deductible as interest for filing a 2011 return, added John Hewitt, Founder and CEO of Liberty Tax Service.

Liberty Tax examines some other tax measures for homeowners filing a 2011 tax return:

A Residential Energy Credit Continued in 2011

For eligible property placed in service during 2011, homeowners may be able to claim a credit of up to $500 of the cost of certain energy efficient property. The residential energy credit may offer a tax break on a 2011 return if all installation was completed in 2011. Residential energy credits apply only for main homes, and can include a new roof or exterior doors that meet the Energy Star requirements. The 2011 credit must be reduced by the amount of any residential energy credit taken after 2005, and can be claimed by filing Form 5695 Residential Energy Credit.

Tax Relief for Some Financially Distressed Homeowners Was Extended in 2011

Homeowners experiencing short sales and foreclosures will get a break for debt-forgiveness tax consequences. Instead of treating cancellation of debt as taxable income on the foreclosure of a principle home, no taxes will be levied on discharges of indebtedness of up to $2 million dollars for married taxpayers filing jointly and of up to $1 million dollars for a married taxpayer filing a separate return through tax year 2012.

Remaining Points May be Deductible in the Year of Home Sale

Starting in 2011, those selling a home who havent deducted all of their points may be able to deduct them in the year that they sell the home. A home seller who is a single taxpayer has the opportunity to owe no tax on the first $250,000 of profit for the sale of a home owned and lived in for two of the last five years. A married couple owes no taxes on the first $500,000 of profit for the same time period.

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Liberty Tax Covers Tax Tips for Homeowners

Last June, as Virginia was playing in the College World Series in Omaha, there was no bigger fan of the team than Liberty pitcher Blake Forslund.

I was pulling for them all the way, Forslund said. I was really hoping theyd get there and then win the national championship, but things didnt work out.

On Tuesday afternoon at Davenport Field, things worked out just fine for the former Virginia player.

The 6-foot-4 215-pound right-hander tossed 3.2 innings of scoreless relief and picked up the win as Liberty shocked UVa, 8-0.

It was a unique experience, Forslund said. Not many people get to come back and pitch against the program they started with, but I have nothing but good things to say about the coaches and the program [at UVa]. It was a good welcome back.

Not for Virginia it wasnt.

UVa coach Brian OConnor called the defeat one in which the Cavaliers had twice as many errors (four) as hits (two) one of the most disappointing of his tenure. It was the programs first regular-season mid-week loss at home since 2009, a string of 28 games.

They beat us in every phase of the game today, said OConnor, whose team opens a home weekend series with Wright State and Seton Hall on Friday. They certainly out-pitched us. They were more aggressive at the plate than us and they played a lot better defense than us.

Sophomore pitcher Artie Lewicki, making his first career start, was tagged for five runs (four earned) on five hits in 3.0 innings and took the loss.

Lewicki, who walked two and struck out two, got into trouble in the third. Libertys Andy Smith walked with one out and then stole second base. He scored with two outs when Tyler Cox singled to right on a 3-2 pitch. Cox moved to second after a throw from right fielder Mike Papi got away from catcher Nate Irving, then scored on the next pitch when Bryan Aanderud singled up the middle.

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Liberty blanks Virginia baseball team

NEW YORK, NY--(Marketwire -02/28/12)- American Liberty Petroleum, Corp. (OTC.BB: OREO.OB - News) announced yesterday that they are exploring the potential of the western part of the US in search of petroleum reserves. Companies like Anadarko (NYSE: APC - News), Gasco (AMEX: GSX - News) and Occidental Petroleum (NYSE: OXY - News) have all made claims in California and Nevada.

Yesterday, Pacific Investment Management Co.'s Mark Kiesel stated that technological improvements have helped drillers boost production. Onshore natural gas shale and oil shale developments are creating opportunities to invest in energy companies that may grow significantly faster than the overall US economy. (http://media.pimco.com/Documents/PER033-022312%20US_Game%20Changer%20GBL.pdf)

The report further states, "While natural gas remains a key driver of new job creation and capital spending across the country, high crude oil prices, an abundant supply of onshore oil reserves and new drilling technologies are also helping to stimulate growth and investment in domestic oil."

Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A third party has hired and paid IO News Wire twelve hundred and ninety five dollars for the publication and circulation of this news release. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation; do no trading of any kind and send no faxes or emails.

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American Liberty Petroleum (OREO) Looking West

WASHINGTON (Reuters) - German healthcare conglomerate Fresenius Medical Care AG & Co has won U.S. antitrust approval to buy Liberty Dialysis Holdings Inc, provided it sells 60 dialysis clinics, the Federal Trade Commission said on Tuesday.

Fresenius has more than 1,800 outpatient dialysis clinics in the United States that serve some 130,000 patients while Liberty has 260 dialysis centers that serve some 19,000 patients, the FTC said.

The FTC said the outpatient dialysis clinics to be sold were in 43 U.S. markets.

Fresenius, the world's largest dialysis company announced in August it would buy privately held Liberty for $1.7 billion, including $1 billion in debt.

Fresenius reported earnings and a 2012 outlook on February 21 that was slightly below expectations as it grappled with a new reimbursement system in the United States.

U.S. state-run insurer Medicare, which provides insurance for about 80 percent of FMC's U.S. patients, no longer pays for individual services and drugs but instead makes a lump-sum payment per dialysis session, as long as patients are kept in good health. Medicare guarantees access to health insurance for Americans aged 65 and older and some disabled people.

Fresenius has a U.S. market share of more than a third by patient numbers, with its closest rival, Davita Inc, commanding about a quarter.

Fresenius, which also makes dialysis machines, said on February 21 that net income in the fourth quarter rose 14 percent to $310 million, slightly below the average estimate of $316 million in a Reuters poll.

(Reporting By Diane Bartz; Editing by Tim Dobbyn)

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U.S. backs Fresenius buy of Liberty with clinic sales

CHARLOTTESVILLE, VA. The Liberty Flames combined to shut down the Cavaliers, limiting No. 14 Virginia to two hits, en route to an 8-0 victory, Tuesday afternoon at Davenport Field. Liberty pitchers, Tim Dudley, Blake Forslund and Kody Young, combined to hold the Cavaliers in check, recording the fourth shutout of the year for the Flames. The trio allowed only two Virginia runners to reach as far as second base in the contest.

Liberty collected 11 hits in the game, with each Liberty starter having at least one hit. Right fielder Michael Robertson and catcher Trey Wimmer paced the Flames with two hits apiece. Liberty moves to 9-1 on the year. The victory was the first for the Flames against Virginia since a 9-7 win in Lynchburg on March 5, 2002, a span of eight games. The victory was also Liberty's first over a nationally ranked team since the Flames defeated No. 13 Coastal Carolina at the Big South Conference Tournament on May 24, 2008 in Danville, Va. Virginia falls to 5-2-1 on the season.

Liberty opened the contest by mounting a scoring threat in its first at bat of the afternoon. The visiting Flames loaded the bases with two outs in the top of the first inning, but Virginia starter Artie Lewicki retired the next Liberty hitter to keep the Flames off the scoreboard.

In the top of the third inning, Liberty plated the game's first runs to take the lead. With two outs, center fielder Andy Smith, who had walked, stole second and scored on a single by designated hitter Tyler Cox. Second baseman Bryan Aanderud followed with a run-scoring single for a 2-0 advantage. The Flames added to their lead in their next at bat, opening the fourth inning with three extra-base hits. First baseman Ryan Cordell led off the top of the frame by ripping a line drive into the left corner for a triple. Third baseman Dalton Sype followed with a double to give Liberty a 3-0 edge. The next batter, shortstop Zack Haley, blasted a double off the top of the wall, cashing in Sype for a 4-0 lead. Two batters later, Robertson singled home Haley for a 5-0 advantage. In the fifth inning, the Cavaliers advanced their first runner to second base in the game with one out on an error and walk. However, Liberty pitcher Blake Forslund was able to get shortstop Chris Taylor to bounce into a double play to end the frame.

A Virginia error in the top of the sixth inning opened the door for the Flames to extend their lead with three more runs. With two out and the bases loaded, Cavalier second baseman Keith Werman dropped a throw to second base, allowing a run to score and the inning to continue. Wimmer followed with a two-run single, upping Liberty's lead to 8-0.

Dudley, the Flames starter, gave up one hit and struck out one batter, before leaving after 2 1/3 innings due to a stiff back. Forslund followed with 3 2/3 scoreless innings of work. The right-hander, who transferred to Liberty from Virginia in 2010, did not allow a hit, striking out five batters and walking five. Young earned his first save in a Flames uniform, pitching the final three frames, yielding just one hit. Young struck out three batters and walked one.

Read more:
Liberty Knocks Off UVa on the Diamond