Many Californians who will be first time home buyers have their eyes on December 1, 2009, the deadline to purchase a home and get the tax credit created by the Housing and Economic Recovery Act of 2008. “First time” covers more than you would think, since it’s defined to include taxpayers who haven’t owned another principal residence during the last three years before the current purchase date. You won’t be able to qualify for the tax credit if you’re buying a rental property, since the home must be used as your main personal residence. If you buy the home in 2009 (and close by November 30), (more…)
Archive for September, 2009
Watching Out For Your San Diego Business When You Negotiate a Commercial Lease
Tuesday, September 29th, 2009If you’re a San Diego business owner, then you know that when looking for commercial space, the last thing you want to do is blindly sign the lease being offered to you, because a commercial lease always needs to be negotiated. Looking at the Chargers’ lease of Qualcomm Stadium with the City of San Diego, the San Diego Union Tribune reports that the agreement expires in 2020. Before then, the lease provides that the Chargers have a month-long window every year to notify the city of its intent to leave, with penalties at $54.6 million if the team moves next year, but dropping to less than half that amount in 2011 (an amount which some say could be a penalty the team is willing to pay). At least according to Chargers’ special counsel Mark Fabiani, quoted in a Voiceofsandiego.org article, the city got a “bad deal” considering the limited revenue generated by Qualcomm. (more…)
