A new online tool helps home owners who used the 2008 first-time home buyer tax credit calculate how much they now have to pay back.

If you bought a home in 2008 and took advantage of the original first-time home buyer tax credit in 2008, you have to pay it back. The credit was a no-interest loan, and you repay it in equal installments over 15 years through your tax return.

If you claimed the tax credit in 2009, 2010, or 2011 and then sold your house within 36 months, you’ll also have to pay back the credit when you next pay your federal taxes. Also, anyone who sold their home, or stopped using it as their main home, may have to repay the entire credit whether their home was purchased in 2008, 2009, or 2010. If you took advantage of a later version of the tax credit and stayed put, you don’t have to repay it.

To make it easier to calculate how much you have to pay back, the Internal Revenue Service developed an online tool, which tells you:

The original amount of the tax credit you got How much of the tax credit you’ve already paid back How much you still owe How much you’re going to owe in future years (your annual installment repayment amount) All you need to use the tool is your Social Security number, date of birth, your street address, and Zip code.

Enter the information you get from the online tool into line 59b of Form 1040 or line 58b of Form 1040NR. You don’t need to attach Form 5405, the First-Time Homebuyer Credit and Repayment of the Credit, to your return unless you’re repaying the credit because the home stopped being your main home.

First-time home buyer tax credit complications

In some cases, calculating your tax credit repayment is complicated — say your property has a separate building that you use for a business, your spouse dies, you converted your home to a rental property, or your home is destroyed or condemned — so check the rules on your repayment situation. You may also need to consult an earlier version of the form

OLD: http://mymail.geneseo.net
NEW: New Address Coming Soon

The new platform has many modern features including drag and drop message folder to folder transfer, shift/click message selection, a fresh user interface and much more. We think you’ll find the new webmail system a pleasure to use and a much needed update.

IMPORTANT NOTE: Unfortunately, because of the age and structure of the CURRENT webmail system, we can NOT migrate any existing webmail data (mailboxes, emails, etc.) from the current webmail system to the new system.

THE OLD WEBMAIL SYSTEM WILL BE SHUT DOWN: Please be sure you get everything you need out of the OLD webmail system. This system will be shut down on June 1, 2012.

Knee Replacement Successful for Millions

Millions of people have had successful knee replacement surgery.  New research presented at the 2012 Annual Meeting of the American Academy of Orthopaedic Surgeons (AAOS) found that more than 4.5 million Americans are living with a total knee replacement (TKR), as the number of TKR surgeries has more than doubled over the past decade, with the sharpest rise among younger patients. Osteoarthritis continues to be the primary reason for TKR.

The study, funded by the National Institute of Arthritis and Musculoskeletal and Skin Diseases, found that more than 4.5 million Americans are currently living with at least one TKR. This represents 4.7 percent of the population age 50 years or older – higher than the national rates for congestive heart failure and rheumatoid arthritis. )

In addition:

• The prevalence of osteoarthritis is higher in women and so is TKR: 5.3 percent, compared to 4.1 percent in men.
• Among persons age 60 to 69, 4.1 percent of men and 4.8 percent of women have a TKR; among those ages 70 to 79, 7.1 percent of men and 8.2 percent of women have had at least one knee replaced.
• Ten percent of Americans age 80 and older are living with a TKR.

“The number of total knee replacements is growing drastically,” said Elena Losina, PhD, lead investigator “We now have a lot of people living with TKR,” which may lead to substantial increases in the likelihood of revisions and complications, especially in younger patients.”

Note: Statements and conclusions of study authors that are published here are solely those of the study authors and do not necessarily reflect this hospital’s policy or position. This hospital makes no representation or warranty as to their accuracy or reliability.

When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix.

1. Decide what you can do yourself TV remodeling shows make home improvement work look like a snap. In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.

Do you really have the skills to do it? Some tasks, like stripping wallpaper and painting, are relatively easy. Others, like electrical work, can be dangerous when done by amateurs. Do you really have the time and desire to do it? Can you take time off work to renovate your fixer-upper house? If not, will you be stressed out by living in a work zone for months while you complete projects on the weekends? 2. Price the cost of repairs and remodeling before you make an offer Get your contractor into the house to do a walk-through, so he can give you a written cost estimate on the tasks he’s going to do. If you’re doing the work yourself, price the supplies. Either way, tack on 10% to 20% to cover unforeseen problems that often arise with a fixer-upper house. 3. Check permit costs Ask local officials if the work you’re going to do requires a permit and how much that permit costs. Doing work without a permit may save money, but it’ll cause problems when you resell your home. Decide if you want to get the permits yourself or have the contractor arrange for them. Getting permits can be time-consuming and frustrating. Inspectors may force you to do additional work, or change the way you want to do a project, before they give you the permit. Factor the time and aggravation of permits into your plans. 4. Doublecheck pricing on structural work If your fixer-upper home needs major structural work, hire a structural engineer for $500 to $700 to inspect the home before you put in an offer so you can be confident you’ve uncovered and conservatively budgeted for the full extent of the problems.

Get written estimates for repairs before you commit to buying a home with structural issues.

Don’t purchase a home that needs major structural work unless:

You’re getting it at a steep discount You’re sure you’ve uncovered the extent of the problem You know the problem can be fixed You have a binding written estimate for the repairs 5. Check the cost of financing Be sure you have enough money for a downpayment, closing costs, and repairs without draining your savings.

If you’re planning to fund the repairs with a home equity or home improvement loan:

Get yourself pre-approved for both loans before you make an offer. Make the deal contingent on getting both the purchase money loan and the renovation money loan, so you’re not forced to close the sale when you have no loan to fix the house. Consider the Federal Housing Administration’s Section 203(k) program, which is designed to help home owners who are purchasing or refinancing a home that needs rehabilitation. The program wraps the purchase/refinance and rehabilitation costs into a single mortgage. To qualify for the loan, the total value of the property must fall within the FHA mortgage limit for your area, as with other FHA loans. A streamlined 203(k) program provides an additional amount for rehabilitation, up to $35,000, on top of an existing mortgage. It’s a simpler process than obtaining the standard 203(k). 6. Calculate your fair purchase offer Take the fair market value of the property (what it would be worth if it were in good condition and remodeled to current tastes) and subtract the upgrade and repair costs.

For example: Your target fixer-upper house has a 1960s kitchen, metallic wallpaper, shag carpet, and high levels of radon in the basement.

Your comparison house, in the same subdivision, sold last month for $200,000. That house had a newer kitchen, no wallpaper, was recently recarpeted, and has a radon mitigation system in its basement.

The cost to remodel the kitchen, remove the wallpaper, carpet the house, and put in a radon mitigation system is $40,000. Your bid for the house should be $160,000.

Ask your real estate agent if it’s a good idea to share your cost estimates with the sellers, to prove your offer is fair.

7. Include inspection contingencies in your offer Don’t rely on your friends or your contractor to eyeball your fixer-upper house. Hire pros to do common inspections like:

Home inspection. This is key in a fixer-upper assessment. The home inspector will uncover hidden issues in need of replacement or repair. You may know you want to replace those 1970s kitchen cabinets, but the home inspector has a meter that will detect the water leak behind them. Radon, mold, lead-based paint Septic and well Pest Most home inspection contingencies let you go back to the sellers and ask them to do the repairs, or give you cash at closing to pay for the repairs. The seller can also opt to simply back out of the deal, as can you, if the inspection turns up something you don’t want to deal with.

If that happens, this isn’t the right fixer-upper house for you. Go back to the top of this list and start again.

Published: January 3, 2012

Don’t have a conniption over the fusarium bacteria researchers say commonly live in bathroom sink drains: It probably won’t kill you.

It’s easy to panic when someone finds a fungus among us. And news that Penn State University researchers found fusarium bacteria living in bathroom sink drains around the country made us grab the Lysol and a Xanax. Fusarium can cause sinus infections, ringworm, pink eye, and dangerous skin infections that some compare to leprosy.

Is it hot in here? Or are we worrying for nothing?

That depends, says lead researcher Dylan Short.

Perfectly healthy people need not fear the dreaded bacteria, which is “mostly harmless” in people with normal immune systems.

However, fusarium also lurks in hospital sink drains, where patients with compromised immune systems wash their faces and brush their teeth.

“Hospitals should be taking this seriously,” Short says; the rest of us can relax.

That’s easier said than done for antimicrobial junkies who clean and kill bacteria on every countertop and bathroom fixture.

For them, pouring an ammonia or bleach solution (3 parts water: 1 part chemical) down the drain can help ease their minds — and it might even kill a few bacteria.

“Any product designed to eliminate bacteria or mold will work,” says James Steinle, owner of Atomic Plumbing in Virginia Beach, Va. “But, you’ll always get some kind of bacteria in a sink drain. Unless you’ve got a smell problem, don’t worry about it.”

GCCF will close out its 9th year on December 31, 2011 with over $100,000 distributed to local charities. This year’s grant recipients include:

Junior Achievement, Geneseo Marriage & Family Counseling, Rebuilding Together, Geneseo High School Robotics Club, Geneseo Soccer Boosters, Renaissance Hennepin Canal, Geneseo High School Life Skills, Teen Reach Adventure Camp, Geneseo Senior Citizens, Geneseo Food Pantry, Growth Inc., and the Stone Field Lighting Project.

The Geneseo Communications Charitable Foundation (GCCF) was established in 2002 by Geneseo Communications, Inc. to enhance, develop and benefit the Geneseo Community and surrounding areas.

GCCF grant applications can be found at www.Geneseo.com and can be submitted at any time throughout the year. Applications are reviewed quarterly and all 501(c)3 organizations are encouraged to submit an application.

Geneseo Communications, Inc. has a long, proud history of service and commitment to our local communities. We are honored to give back to local organizations that make a difference in the lives of our neighbors and friends.

The Geneseo Communications, Inc. family of companies include: Geneseo, Cambridge & Henry County Telephone Companies, IDC Technology Solutions and RadioShack, On Guard Security and GenSoft Systems, Inc. We offer a full line of communications services including: traditional phone services, long distance, satellite TV, cellular service, broadband internet service, home and business security and monitoring systems and a full line of computers, peripherals, home entertainment systems and more.

For 107 years and counting, WE ARE your neighbors and friends. WE ARE local, proven and trusted. WE ARE Geneseo Communications, Inc.

While most of us wake up on Christmas day with several presents under the tree, many local families and their children are not so fortunate.  This year will be different for them!

On Tuesday, December 13, Geneseo Telephone Company employees manned the “toy drop off center” in front of the phone company office for their annual toy drive.

According to Brenda Crider, head of the toy drive, this year tops them all. “This year was our biggest to date!  We had vehicles pulling up with toys or cash all day long.  We are so thankful to all of those who stopped by with gifts.  It is a blessing to witness the outpouring of generosity from those in our community for the benefit of others within our community who may be less fortunate” said Crider.

In addition to the several hundred new gifts, Geneseo Telephone Company also collected nearly $1600 in cash which was used to buy even MORE gifts for the toy drive. The truck load of toys was delivered to the Geneseo Food Pantry on Thursday, December 15!

Geneseo Telephone Company would like to thank all of its wonderful employees, all of those who drove by to donate gifts and cash as well as All In Stitches, Farm & Fleet, and Walgreens for their donations!

• Los Ranchitos: Buy 1 entree, get second at 1/2 price
• Breedloves: $10 off any pair of shoes (Exp 3/1/12)
• Andover Cafe: Buy 1 breakfast, get second at 1/2 price (Exp 3/1/12)
• Quilts -n- Blooms: 15% off entire purchase (Exp 3/1/12)
• Parkway Grill: $1.00 of purchase of $15.00 or more – Reusable through 3/1/12
• Lake Street Floral Kewanee: 20% off (Exp 3/1/12)
• Happy Joes: $3 off large, $2 off medium, $1 off small (Exp 3/1/12)

Tell ‘em you found them in Max!

The sales team for the Henry-Stark County Telephone Directory (also known as Max Hello Pages) is out in full swing through mid December. Members of our team include: Dan Kuffel, Rhonda Ludwig, Joline Sierens and Michael Mulholland.

Currently within the community, another sales person(s) are soliciting sales for another directory. They are not related to Geneseo Telephone Company or the Max Hello Pages telephone directory in any way, though they are using phrases such as “Geneseo local telephone book”.

Be careful when choosing a telephone directory for your advertising needs. Out of town companies, producing a start-up telephone directory can not truly understand or care about the community in which they are soliciting. Additionally, they are not able to offer you the same level of service and support as your local companies.

Geneseo Telephone Company continues to offer the best coverage and distribution of any local telephone directory in our market. We continue to provide the best sales and service and will continue to give back to the communities that we serve.

Should you ever have a question regarding a solicitation for directory advertising, please call our Directory Publishing Manager, Ron Hartman at 309-944-2103.