Last year President Obama proposed that no household earning more than $1 million per year pay a smaller share of its income in taxes than middle-class families. In support of his proposal he called for the imposition of a minimum effective tax rate of at least 30%. This year in his State of the Union [...]
From the immortal Pauly Shore came this gem: "Karma is a bitch!" Last week TaxMasters, the firm claiming to solve everyone's IRS problems, filed for bankruptcy making it the latest high profile tax resolution firm (following JK Harris and Roni 'Tax Lady' Deutch) to go out of business. There's no need to fret. For those who missed their opportunity to be taken by [...]
Recently we had the pleasure of making a presentation at a local business association’s quarterly breakfast. The focus was the economy, contributing factors and the impact on small and mid-sized businesses – the owners of which comprised the bulk of the audience. Thereafter a Q&A was held with questions coming mostly from economic, investment and [...]
Have you ever wondered why some scams never seem to go away? It's because they work. I was reminded of this recently when a young woman was accused of bilking an elderly man out of $47,000 with a phony story about a kidney transplant. Gee, was the "need" for a Mercedes not obvious enough that something [...]
In his weekly radio address President Barack Obama said vehicle fuel economy standards set under his administration and better cars built by a resurgent U.S. auto industry will save money at the gas pump. "Automakers are on track to build cars that average nearly 55 miles per gallon by 2025. That means folks will be [...]
Later today President Obama will make a speech in New Hampshire aimed squarely at voters who can't help but notice the recent rise in gasoline prices. But will his words reflect his policy (lack thereof to be precise) or his politics? President Obama is expected to call for increased domestic production. Similarly he's expected to [...]
In a move that makes eminent economic sense the Obama administration is set to ask Congress to reduce the corporate tax ratefrom 35% to 28%. In doing so a number of so-called "loopholes" will be reduced or eliminated. Reduce the rate and broaden the base? Bingo! That's how to increase revenue. That's precisely the type of [...]
It's that time of year we all love so dear - tax season. We dutifully go about collecting our W-2s and 1099s while swearing under our breath about The Taxman and vowing this year we won't wait until April 14th to get started on our returns. It's an annual event on par with New Year's resolutions [...]
An estimated 1.5 million private scholarships are awarded each year to help students offset the cost of a college education. This helpful article offers suggestions for finding and obtaining scholarships along with tips for securing and maximizing financial aid.
The Problem with Entitlement Programs Just before year-end we participated in a Q&A with Jeff Gundlach of DoubleLine Funds. In support of his investment thesis a myriad of information was provided. We carved out and reordered a few slides of interest as although they were not directly related to Mr. Gundlach’s thesis they speak to [...]