Mortgage Credit Certificates to provide Iowa home buyers with up to $2,000 in annual federal income tax credits 

(DES MOINES) - Gov. Terry Branstad and Lt. Gov. Kim Reynolds today partnered with the Iowa Finance Authority and the Iowa Association of REALTORS to announce an opportunity for new Iowa home buyers to reduce their federal income tax liability by up to $2,000 a year for the life of their mortgage through the 2014 Take Credit Mortgage Credit Certificate program.  The program is estimated to assist 585 home buyers and is administered by the Iowa Finance Authority (IFA).

"With tax season upon us, many Iowans are looking for ways to keep more of their hard-earned income," said Branstad. "The Take Credit Mortgage Credit Certificate Program announced today offers new Iowa home buyers a way to do just that and put even more momentum behind Iowa's already strong real estate market as we enter the home buying season. I encourage all Iowa home buyers to look into this valuable resource."

"Research has consistently shown the importance of the housing sector on the economy and the long-term social and financial benefits," said Reynolds. "Every Iowa home sale provides a boost to the local economy, supports strong neighborhoods and aligns Iowa families for long-term stability."

The 2014 Take Credit Program provides eligible home buyers with a tax credit against their federal income tax liability every year for the life of their mortgage, as long as the home is used as their primary residence, up to a maximum of 30 years. The program is available only for IFA-approved new purchases closing after February 3, 2014. Eligible financing is limited to 30-year, fixed-rate, fully amortizing loans.

The amount of the tax credit is based on a percentage of the homeowners' mortgage interest. For the 2014 Take Credit Program, the credit rate is set at 30 percent of the annual interest paid on the mortgage loan, up to a maximum of $2,000 per year.

To take advantage of the program home buyers must be approved for a mortgage and meet federal eligibility requirements. Interested home buyers should visit IowaFinanceAuthority.gov/TakeCredit to find a Take Credit Participating Lender, access eligibility information and more.

After an eligible homeowner has closed a mortgage loan with an IFA Take Credit Participating Lender, IFA will issue the homeowner a mortgage credit certificate for pre-approved applicants. The homeowner in turn may apply the credit against their federal income tax liability on an annual basis for the life of their mortgage. The credit may be claimed on IRS Form 8396.

"This program is a win-win for Iowa as it will help to fuel an already healthy Iowa real estate market and help hundreds of Iowa families realize a reduction in their federal income taxes," said Iowa Finance Authority Executive Director Dave Jamison.

Iowa Association of Realtors CEO Dave Bert said, "Iowa home sales in 2013 increased by an impressive 7.9 percent. The Take Credit program announced today will encourage even more home buyers to take the step into homeownership."

The mortgage credit certificate was authorized by Congress in the 1984 Tax Reform Act and functions like a federal income tax credit. Funding for the program is made available through federal private activity bond volume cap, which was set to expire if not used. The mortgage certificate credit funding will be available through 2014 or until the funds are expended.

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By Jason Alderman

One topic I've learned to avoid with new acquaintances until I know them better (along with politics and religion) is where they stand on the treatment of pets. Some people, when their dog gets sick or badly injured, say, "It's an animal - that's just part of the circle of life." Others consider Rover a close family member and would take out a second mortgage to save his life.

Pet owners from both camps probably see the barrage of ads for pet insurance and wonder whether it's worth the expense, which might be several thousand dollars over the life of your pet. I did some research and the best answer I can come up with is, it depends.

First, ask yourself: Do you regard pet insurance as a financial investment, where you expect to get back more in benefits than you paid out in premiums over the pet's life? Or, is it more like auto or homeowner's insurance, where you hope nothing ever goes seriously wrong, but you want coverage in case there's a catastrophe?

Either way, here are some basic facts about pet insurance that may help you decide whether it's right for you:

Pet insurance shares many features with human health insurance: Policies typically have annual deductibles, copayments and exclusions, and some limit which veterinarians, clinics and hospitals you can use.

But there are numerous differences as well. For example, pet insurers are allowed to refuse coverage for preexisting conditions and to set annual and lifetime payout limits. Among the many other restrictions you should watch for when comparing plans are:

• Premiums vary greatly depending on where you live and may increase based on your pet's age, breed, veterinary cost inflation and other factors.
• Typically you must pay the vet or hospital bill out of pocket and get reimbursed later.
• Many plans deny or restrict coverage for congenital or hereditary conditions (like hip dysplasia in dogs or kidney failure in cats) and preventable conditions like periodontal disease.
• Along with annual and lifetime maximums on benefits paid out, there may be a limit on how much it will pay for treatment of an individual illness or accident.
• If your pet suffers a particular disorder one year, don't be surprised if that condition is excluded at renewal - or if you're required to pay an additional fee for future coverage.
• Pets over certain age limits frequently are denied coverage.
• Certain breeds are often excluded or only eligible for restricted coverage.
• Some carriers let you augment your accident and illness policy with optional "wellness care" coverage for things like spaying and neutering, annual physicals, vaccines and routine tests. Make sure the additional premium is worth the extra cost.

Perhaps the biggest challenge when choosing pet insurance is trying to compare plans, apples to apples. There are about a dozen carriers in the U.S. Each offers a variety of plans with varying deductible, copayment and maximum coverage amounts, as well as different covered benefits and exclusions.

You can go directly to their websites for plan details and to request a quote, or use an independent comparison website to pull quotes from multiple carriers. I'd recommend creating a spreadsheet to compare benefits and costs side by side, just as you would when shopping for auto insurance.

Bottom line: If you decide pet insurance isn't right for you, at least be sure you're setting money aside to cover expected - and unexpected expenses.

Levesque Hat Trick Powers Mallards Past Chill 6-3 in Front of 8,761

MOLINE, Ill. (February 8, 2014) - Gabriel Levesque scored a hat trick and added an assist as the host Quad City Mallards defeated the St. Charles Chill 6-3 Saturday night in front 8,761 fans.  By winning in front of the largest Central Hockey League crowd this season the Mallards (21-11-8) reached the 50-point plateau while the loss left the Chill (10-30-5, 25 points) with 30 regulation defeats this year.

After Levesque pounced on a rebound at 17:45 of the second period to complete his hat trick and give Quad City a 4-2 lead, the Mallards would put the game away by outscoring the Chill 2-1 in the third period.  Mike Monfredo widened the Mallard advantage to three for the first time by sweeping the puck home from the left wing circle at 5:58 of the third.  With the Chill on the man advantage Dan Weiss's wrist shot snuck inside the post and trimmed the Mallard cushion to 5-3 at 10:47, but just under four minutes later Thomas Frazee would cap off the Quad City victory with a close range power play goal.

The Mallards had emerged from a wild opening 20 minutes with a 3-2 lead.  Levesque started the scoring by pouncing on a rebound for the first of his two first period power play goals 8:23 into the game.  Matt Duffy's drive from the high slot stretched the Mallard lead to 2-0 just a minute and 19 seconds later.  A Travis Ouelette wrist shot from the slot got St. Charles on the scoreboard for the first time at 13:06 of the first.  Levesque struck again at 17:09, roofing the puck from the slot to reestablish the two goal Mallard lead.  Just when it seemed that two goal margin would stand up through the end of first the Chill would strike on the power play.  Kyle O'Kane buried Nicklas Lindberg's centering feed with just 17.2 seconds left in the first to once more reduce the gap to a single goal, but St. Charles would get no closer.

The Mallards and Chill meet again tomorrow in St. Charles.  The Mallards next play at home next Friday night at 7:05 p.m. against the Rapid City Rush.  Next Friday is another $1 Dog/$1 Beer Night presented by 97X.  $1 hot dogs and beers are available at iWireless Center concession stands during each of the Mallards' 11 Friday night home games this season.

Tickets for next Friday night's game and all Mallards regular season home games can be purchased at the iWireless Center ticket office, Ticketmaster outlets, through ticketmaster.com or through Ticketmaster charge-by-phone toll free at 1-800-745-3000.  The ticket office is open weekdays from 10:00 a.m. to 5:30 p.m., on Saturdays from 10 a.m. to 2:00 p.m. and on game days from 10:00 a.m. until the start of the second period.

Monfredo Scores Last Minute Power Play Winner, Mallards Outlast Chill 6-4

ST. CHARLES, Mo. (February 9, 2014) - Mike Monfredo scored a tie breaking power play goal with just 30 seconds left in regulation and the Quad City Mallards went on to claim a wild 6-4 win over the host St. Charles Chill Sunday.  With victory, the Mallards (22-11-8, 52 points) moved into sole possession of fifth place in the Central Hockey League and completed a two-game home-and-home sweep of the Chill (10-31-5, 25 points).

Monfredo blasted the game winner from the right point with the Mallards on a late man advantage that resulted from a major penalty (kneeing) assessed to the Chill's Sean Muncy.  Thomas Frazee, who also had an assist, clinched the win by scoring an empty net goal on the power play with only 13 seconds left in the contest.

The Mallards' late flurry capped off a third period Quad City comeback triggered by Justin Fox's close range equalizer at 13:36 of the final frame.  The Mallards found themselves in need of a rally when Ryan Berard broke a 3-3 deadlock from the slot with the second St. Charles shorthanded goal of the game at 11:57 of the third.

The Chill outscored the Mallards 3-2 in a back-and-forth second period to set the stage for that frantic finish.  What had been a 1-0 Mallard lead was erased when Travis Ouellete pounced on a rebound at 2:33 of the second.  Exactly two minutes later, Nick Grasso finished off a 2-on-1 rush to put the Mallards back on top.  That advantage lasted only until Martin Hlinka scored shorthanded from the top of the left wing circle to knot the game at two at 9:29.  Just a minute and 47 seconds later he Chill took the lead for the first time with Cameron Cooper's sharp angle shot.  The Mallards responded when Matt Duffy fired in a rebound at 15:27 to tie the score at three.

Jeff Lee's backhander from the slot had opened the scoring at 5:29 of the first period and kick-started what proved to be a roller coaster afternoon.

Americans Drop Mallards 5-2

MOLINE, Ill. (February 7, 2014) - Brian McMillin scored two goals and Mark Guggenberger made 40 saves as the Allen Americans defeated the host Quad City Mallards 5-2 Friday night.  With the loss, the Mallards (20-11-8, 48 points) settled for a split of their two game series with Allen while the victory ended the Americans' (26-13-4, 56 points) three-game losing streak.

Daniel Tetrault scored what proved to be the game winner on the power play at 8:38 of the second period.  Tetrault's one timer from the high slot broke a 2-2 deadlock and turned out to be the first of three unanswered Allen goals. That the Americans entered the third period still on top 3-2 was due in good part to Guggenberger's 19-save effort in the second.

The Americans took control of the contest with a pair of goals in the third.  McMillin charged into the goalmouth and buried his second of the game just 13 seconds into the final frame.  Alex Lavoie scored Allen's fifth by converting Greger Hanson's centering pass at 7:40.

The Mallards had battled back from an early 2-0 deficit to even the score in the first period.  McMillin's close range backhander opened the scoring at 2:31 of the first.  At 4:45 Hanson pounced on a rebound to double the Allen lead.  The Mallards were on the power play when Matt Duffy's blue line blast cut the gap to 2-1 at 5:47.  With just 51 seconds left in the period and the Mallards again on the power play, Mike Monfredo swooped through the left wing circle to score the equalizer but the Mallards would be unable to rally a second time.

We're pleased to be hosting two of our favorite musicians for Valentine's weekend:  Friday night with Dustin D Busch and Saturday night with Pete Balestrieri! In addition to our regular dinner menu we'll also be offering a three-course option with beer and wine pairings:

$70 per couple, tax & gratuity included
$100 per couple with wine or beer, tax & gratuity included
(all the food is made with gluten-free ingredients)

first course: 
shared appetizer plate with housemade crackers, sunflower seed pate, pickled veggies, fresh veggies, & cider mustard with sparkling white wine or Sutliff Cider

second course:
choice of entrees, one per person pasta with "cheesy" winter squash sauce, sundried tomatoes, olives, greens, and portobellos or spinach polenta with roasted winter veggies, lemon-balamic tempeh, herb aioli, & fried sage with Boujelais Blanc or Pale Ale, TBD

third course:
shared dessert of flourless chocolate cake with berries & mousse with Boujelais Nouveau or Stout, TBD

Treat your sweetheart to a magical night; or make memories with friends!  Don't forget to make a reservation because Valentine's is one of our busiest times of the year.  Give us a call at 319-248-0077.