MM Money: November 2004 Archives

November 30, 2004

Fidelity Tightens Trading Policy

Fidelity Investments, the biggest U.S. mutual fund company, said Tuesday that it has strengthened policies designed to combat excessive short-term trading in its funds. "Frequent purchases and sales of fund shares can harm shareholders in various ways, including reducing the returns to long-term shareholders by increasing costs to a fund," Fidelity said in a regulatory filing. Prior to the change, Fidelity permitted investors in most of its mutual funds to make up to four exchanges ... (full story) Continue reading "Fidelity Tightens Trading Policy"

Posted by mm at November 30, 2004 10:18 PM | Permanent Link | Comments (0)

Global Forecasts for 2005 Growth Are Reduced

Prospects for the global economy next year are growing dimmer as high oil prices hurt consumption and the unchecked rise in the United States trade deficit depresses the dollar, the Organization for Economic Cooperation and Development said Tuesday. The O.E.C.D., a Paris-based economic forum for 30 leading industrial nations, cut its forecast for growth in the United States in 2005 to a 3.3 percent annual rate from the 3.7 percent rate that it predicted six ... (full story) Continue reading "Global Forecasts for 2005 Growth Are Reduced"

Posted by mm at November 30, 2004 10:12 PM | Permanent Link | Comments (0)

A Lesson for Social Security: Many Mismanage Their 401(k)s

If President Bush has his way, it might be possible in a few years for Americans to take a portion of their Social Security taxes and invest the money as they see fit. The president says people should have more control over their retirement savings. For a look at the challenges that plan could present, consider Americans' experience with do-it-yourself 401(k) retirement plans. In the 23 years since 401(k) plans were first created, many people ... (full story) Continue reading "A Lesson for Social Security: Many Mismanage Their 401(k)s"

Posted by mm at November 30, 2004 10:09 PM | Permanent Link | Comments (0)

A Life Fulfilled

Are you a Wall Street banker who really wants to teach history? An accountant who yearns to become a rabbi? An insurance salesman who wants to own a charter boat? Or a corporate manager who wants to start a catering company? If there are secrets sorrows to your life, you're not alone. The question is and always has been how to balance passion and pay. Financial life planning claims it can help you accomplish a ... (full story) Continue reading "A Life Fulfilled"

Posted by mm at November 30, 2004 03:36 PM | Permanent Link | Comments (0)

Housing Wealth Reverberates

Homeowners who watch the value of their houses climb aren't reluctant to spend a portion of that growing wealth, pumping about 5 1/2 cents for every dollar increase in home equity back into the economy, a study released Tuesday finds. And while that is the same amount of spending that comes from every dollar increase in stock wealth, consumers take much longer to part with stock gains, in part because they think those gains are ... (full story) Continue reading "Housing Wealth Reverberates"

Posted by mm at November 30, 2004 03:32 PM | Permanent Link | Comments (0)

Chip Index To Get Makeover

The semiconductor industry's primary stock index will get its first makeover in a year and a half on Friday, when two stocks get dropped and three are added. The Philadelphia Stock Exchange said it will add the stocks of Freescale Semiconductor Inc. (FSL: news, chart, profile), Infineon Technologies AG (IFX: news, chart, profile), and Marvell Technology Group Ltd. (MRVL: news, chart, profile) to its Philadelphia Semiconductor Index ($SOX: news, chart, profile), known as the "Sox ... (full story) Continue reading "Chip Index To Get Makeover"

Posted by mm at November 30, 2004 03:30 PM | Permanent Link | Comments (0)

More Mortgages To Be 'Conforming'

Thousands of U.S. homeowners will be able to take advantage of slightly better mortgage terms in 2005 as a hike in the conforming-loan limit will allow mortgage giants Fannie Mae and Freddie Mac to purchase bigger loans. Fannie Mae (FNM: news, chart, profile) and Freddie Mac (FRE: news, chart, profile) said Tuesday that effective Jan. 1, their single-family loan limits would move up to $359,650 from $333,700 this year. The increase is based on the ... (full story) Continue reading "More Mortgages To Be 'Conforming'"

Posted by mm at November 30, 2004 03:20 PM | Permanent Link | Comments (0)

Free Credit Reports Coming, With Pitches

Free" may just be another word for something else to buy, at least when it comes to credit reports. Under a federal law passed a year ago, consumers will be entitled, beginning as soon as tomorrow, to a free credit report every year from each of three big credit reporting bureaus that maintain them. But the industry is not necessarily going to make it easy, given that selling the reports, as well as ancillary services ... (full story) Continue reading "Free Credit Reports Coming, With Pitches"

Posted by mm at November 30, 2004 12:23 PM | Permanent Link | Comments (0)

5 Popular Holiday Shopping Scams

Ah, the holidays: a time of goodwill toward your fellow man -- for some people. For others, it's an opportunity to grab all they can and run while people's defenses are down. While you are looking for the perfect gifts, con artists will be looking for the perfect target. This holiday season, don't get taken by these popular scams. Naming a star What better gift could you give someone then the symbol of the first ... (full story) Continue reading "5 Popular Holiday Shopping Scams"

Posted by mm at November 30, 2004 12:10 PM | Permanent Link | Comments (0)

Teens Need To Embrace Identity Protection

Experts at the Qwest 2004 Summit on Protecting Teens from Identity Theft found that teens tend to be more careless about sharing personal information, especially on the Internet. So teenagers, here are some tips to help you keep your identity safe: - Be smart online. Since most identity theft is perpetrated on the Internet, learn about the scams out there. Don't give away personal information. Don't respond to e-mails asking for such personal information, even ... (full story) Continue reading "Teens Need To Embrace Identity Protection"

Posted by mm at November 30, 2004 10:53 AM | Permanent Link | Comments (0)

November 29, 2004

8 Profitable Year-End Tax Moves

With two months left in the year, there's still time to trim your tax bill for 2004, or at least keep it from being unnecessarily or unexpectedly high. Here's a look at some of the changes to the tax law you should be aware of as well as reminders about what hasn't changed but which is worth remembering as the year draws to a close. Sales-tax deduction: For tax years 2004 and 2005, you have ... (full story) Continue reading "8 Profitable Year-End Tax Moves"

Posted by mm at November 29, 2004 12:18 PM | Permanent Link | Comments (0)

'Gift Cards' May Come Loaded With Fees

If you're handing out gift cards this holiday season, be careful not to give a sackful of fees to the card issuer at the same time. Gift cards have taken off as holiday shoppers apparently are running short of time and ideas. This year they even replaced clothing as the No. 1 gift choice, according to consulting firm Deloitte & Touche. But some of these cards charge fees for buying the card, fees for having ... (full story) Continue reading "'Gift Cards' May Come Loaded With Fees"

Posted by mm at November 29, 2004 09:41 AM | Permanent Link | Comments (0)

What to Do About Your Credit

Free credit reports are coming your way (see Tip of the Week for details). But you may have to take further steps to fix mistakes you come across, or pay for other information, such as your actual credit score. It could be worth the trouble. Credit reports contain payment histories, loan balances and other important personal and financial information used by lenders, insurers, employers and landlords. "The implications of your credit are huge," says Norma ... (full story) Continue reading "What to Do About Your Credit"

Posted by mm at November 29, 2004 09:39 AM | Permanent Link | Comments (0)

No More IRA Leniency

Have you made your required withdrawal this year from your IRA? For the first time, Uncle Sam is watching. Most people are familiar with the rules regarding "required minimum distributions" from individual retirement accounts. Once you hit age 70½, you must begin making annual withdrawals from your IRA, based on your life expectancy. (The tables for making the calculations can be found in IRS Publication 590, Individual Retirement Arrangements, available at www.irs.gov/pub/irs-pdf/p590.pdf online) As reluctant ... (full story) Continue reading "No More IRA Leniency"

Posted by mm at November 29, 2004 09:38 AM | Permanent Link | Comments (0)

Where To Keep Your Rainy Day Fund

Even if your rainy day fund is small, it's big enough to deserve the best account you can find to keep it in. Often, a money market account, or MMA, will do the trick, but there are also high-yield money market accounts, high-yield savings accounts and money market mutual funds -- or money funds -- to consider. Whether you're saving for emergencies or an upcoming purchase, you want this money to be liquid and ... (full story) Continue reading "Where To Keep Your Rainy Day Fund"

Posted by mm at November 29, 2004 07:12 AM | Permanent Link | Comments (0)

Gold ETF Could Open Door To Commodities

In just its first three days of trading, the StreetTracks Gold Trust (GLD: news, chart, profile) gathered $1.3 billion in assets, according to investment research firm TrimTabs. "There's been nothing like it in the history of ETFs," said Carl Wittnebert, TrimTabs' director of research. "The spectacular success of this fund guarantees creation of more commodity-backed ETFs in the near future." Although the way seems clear for more precious metal funds and ETFs tracking broad baskets ... (full story) Continue reading "Gold ETF Could Open Door To Commodities"

Posted by mm at November 29, 2004 12:26 AM | Permanent Link | Comments (0)

November 28, 2004

What's Your Bill-Paying Personality?

When it comes to paying bills, Americans fall into one of six personality types, reports Lieberman Research Group. Which are you? E-Savvy Planner: You are most excited by new technology products and services for financial management. When it comes to money management, you're more willing to spend money on software and other tools that will help you be more efficient. Convenience Seeker: You don't want to spend a lot of time and effort paying bills ... (full story) Continue reading "What's Your Bill-Paying Personality?"

Posted by mm at November 28, 2004 11:24 PM | Permanent Link | Comments (0)

Tax Break Curbed: Changes To Donation Write-Off May Hurt Charities

If you have an old car that you've considered donating to charity, better move quick: The popular tax break, reported on more than 700,000 tax returns a year, will lose most of its attraction at the end of the year. Effective Jan. 1, people donating cars or other items to charities will no longer be able to deduct the market value of the objects from their taxes, according to legislation passed by Congress last month ... (full story) Continue reading "Tax Break Curbed: Changes To Donation Write-Off May Hurt Charities"

Posted by mm at November 28, 2004 09:54 PM | Permanent Link | Comments (0)

A Generation Weighed Down By Debt

Two weeks ago, when Beth O'Connell ordered several books from Amazon.com, she received a distressing surprise: She had hit the limit on her credit card. Sorry, no books. "This is my first maxing out," explains Ms. O'Connell, a publicist in Watertown, Mass., who graduated from Boston University three years ago. "I think I'm making decent money, but it's just not enough with all the bills I pay. It's not like I'm going out shopping and ... (full story) Continue reading "A Generation Weighed Down By Debt"

Posted by mm at November 28, 2004 09:50 PM | Permanent Link | Comments (0)

A Seal Of Good Giving

Every December, Ross Gillfillan gets dozens of offers from charities that woo him with free greeting cards, address labels, T-shirts, tote bags, and magazine subscriptions. But Mr. Gillfillan, a marketing director in San Francisco, is unmoved. These days, he turns to several charitable rating services to figure out where he'll donate. "I can't spend hours being a detective," he says. "I need to know and I need to trust that [they] are using my money ... (full story) Continue reading "A Seal Of Good Giving"

Posted by mm at November 28, 2004 09:46 PM | Permanent Link | Comments (0)

Has Social Investing Lost Its Way?

Many ethically minded investors would think twice before funding an industry known for misleading ads, scant environmental accomplishments, and boardrooms where just about everyone is white. So what happens when such charges are directed at socially responsible investing? A host of SRI mutual-fund managers are fuming in the wake of a scathing report on their industry. At the heart of the controversy lies a concern as stinging as it is sweeping: Has the term "socially ... (full story) Continue reading "Has Social Investing Lost Its Way?"

Posted by mm at November 28, 2004 09:44 PM | Permanent Link | Comments (0)

Realtors Engage In Turf Battle With Discounters

Facing competition from discount firms that offer similar services for as little as half the price, real estate agents in the United States are promoting themselves with a familiar mantra: You get what you pay for. If they hire traditional Realtors, customers will "have someone who knows how to market a home, who knows how to complete a transaction, not just someone who throws up a sign," says real estate agent Dusty Showers, who serves ... (full story) Continue reading "Realtors Engage In Turf Battle With Discounters"

Posted by mm at November 28, 2004 09:30 PM | Permanent Link | Comments (0)

Slick Tips for Holiday Shopping

Shopping: You either love it or hate it. Regardless of which camp you fall into (I'm in the former), you have no choice come the holidays. But even for dedicated shoppers, buying for everyone can be daunting -- not to mention expensive. Here are some tips on how to get high quality while keeping spending under control. Do Your Homework: If your father has his heart set on shearling slippers for Christmas, don't just run ... (full story) Continue reading "Slick Tips for Holiday Shopping"

Posted by mm at November 28, 2004 07:36 AM | Permanent Link | Comments (0)

Debit Cards Lack Protections Of Credit Cards

When you're making a big purchase, think twice about using a debit card in place of a credit card. If something goes wrong, you may have a tough time getting your money back with a debit card, if you get the money back at all. Or, because many merchants treat a debit card purchase as they would a personal check or cash, you may get stuck with several hundred dollars in store credit instead of ... (full story) Continue reading "Debit Cards Lack Protections Of Credit Cards"

Posted by mm at November 28, 2004 07:18 AM | Permanent Link | Comments (0)

To Yield A Good Retirement, Get Real, And Work It Out

Millions of workers are counting on mutual funds to help pay their retirement bills, but it will not be easy to make your money last as long as you do. The idea that you might run out of money in retirement is scary. Fortunately, there is a lot you can do both before and after you stop working. The most important step: Calculate your withdrawal rate, which is the amount you can afford to take ... (full story) Continue reading "To Yield A Good Retirement, Get Real, And Work It Out"

Posted by mm at November 28, 2004 07:15 AM | Permanent Link | Comments (0)

Give Gifts That Give Back

The holiday shopping season officially starts this week, but many halls are already decked and many consumers' budgets are already stretched. Holiday spending is up almost 20 percent from the same time last year, reports Visa, and momentum is building. This year will see more gift cards -- topping apparel for the first time ever, says Deloitte & Touche -- along with 33.7 percent more online shopping, more credit card promotions, and more worries. Money ... (full story) Continue reading "Give Gifts That Give Back"

Posted by mm at November 28, 2004 04:40 AM | Permanent Link | Comments (0)

Borrowing For Social Security Plan?

Facing record budget deficits, the Bush administration likely will turn to short-term government borrowing to help finance its plan to add personal retirement accounts to Social Security, officials said Saturday. President Bush's economic advisers have been analyzing financing options for more than a year in preparation for Bush's second-term push to overhaul the Social Security system. Officials say no final decisions have been made. Bush's advisers believe a short-term increase in borrowing is likely necessary ... (full story) Continue reading "Borrowing For Social Security Plan?"

Posted by mm at November 28, 2004 04:31 AM | Permanent Link | Comments (0)

November 27, 2004

Study Links Personality Type to Investing

We've all got our own quirks when it comes to dealing with money, but a recent study suggests your personality has a great deal to do with how you handle your finances — and the type and frequency of investing mistakes you make. In a nationwide survey, Merrill Lynch Investment Managers found that for most people, the biggest and most painful mistake when it comes to investing was waiting too long to start. The second ... (full story) Continue reading "Study Links Personality Type to Investing"

Posted by mm at November 27, 2004 07:01 AM | Permanent Link | Comments (0)

Advantages That VIPERs Bring to Exchange-Traded Funds

Amid the vast array of exchange-traded funds in the marketplace, Vanguard® VIPER® Shares stand apart. VIPER Shares take full advantage of Vanguard’s indexing expertise to track the performance of their indexes. We pioneered the concept of index mutual funds for individual investors, and we've brought that knowledge and experience to the exchange-traded fund arena. VIPER Shares are managed by Vanguard's Quantitative Equity Group, which has been overseeing index portfolios for more than 25 years. With ... (full story) Continue reading "Advantages That VIPERs Bring to Exchange-Traded Funds"

Posted by mm at November 27, 2004 06:28 AM | Permanent Link | Comments (0)

November 26, 2004

Expanding The American Dream Commitment

The American Dream Commitment® 2003 Report (PDF) underscores Fannie Mae's commitment to working with our partners to tackle the nation's toughest housing problems. This includes pledging to increase minority homeownership rates, expanding access to homeownership for millions of first-time home buyers, streamlining the mortgage process with groundbreaking technology, creating housing opportunities for underserved communities, collaborating with the housing industry to revitalize neighborhoods in cities across the country, and much more. Delivering the American Dream: 1994-2004 ... (full story) Continue reading "Expanding The American Dream Commitment"

Posted by mm at November 26, 2004 08:50 PM | Permanent Link | Comments (0)

'Tis the Season to Fix Up Your House

WHEN ERIK TAROS, a 44-year-old graphic designer, bought his turn-of-the-century Victorian house in 1992, it was the eyesore of the block. He planned to restore the home to its original beauty over many years. But in February 2002, his son's charter school announced it would close its doors at the end of the academic year. Suddenly, Taros was forced to speed up his renovation plans so he could sell his Lynn, Mass., home and move ... (full story) Continue reading "'Tis the Season to Fix Up Your House"

Posted by mm at November 26, 2004 08:44 PM | Permanent Link | Comments (0)

Tips For Saving Fuel

With gas prices approaching $2.00, drivers can benefit from many different strategies to save fuel. The obvious first step is buying a fuel-efficient car. To get the best fuel economy, choosing a four-cylinder engine rather than a V6, or a V6 rather than a V8, is usually the way to go. Small, light cars tend to be more miserly with fuel than larger vehicles. Consumer Reports' monthly road tests include our fuel-economy measurements for city ... (full story) Continue reading "Tips For Saving Fuel"

Posted by mm at November 26, 2004 08:43 PM | Permanent Link | Comments (0)

Leasing Demystified

THE FIRST THING to understand is that leasing is not renting. When you lease a car, you are arranging for the vehicle to be sold to a leasing company -- usually an arm of the manufacturer. The leasing company then lets you use it for a monthly fee over a set period of time, typically two to four years. (There is no limit, however.) When the term of the lease is up, you have the ... (full story) Continue reading "Leasing Demystified"

Posted by mm at November 26, 2004 08:40 PM | Permanent Link | Comments (0)

Sell Your Home — Fast

IF YOU'RE LOOKING TO sell your home in a matter of days rather than months, you might want to take some tips from 32-year-old Mona Ross Berman. To get her Washington, D.C., townhouse ready for sale in early 2004, the interior designer went through every room, sweating the details. She rearranged furniture, added sophisticated coffee-table books and strategically placed vases and throw pillows to create a cozy environment. She then organized every closet to showcase ... (full story) Continue reading "Sell Your Home — Fast"

Posted by mm at November 26, 2004 08:33 PM | Permanent Link | Comments (0)

When Is That Holiday Turkey Taxable?

Dear Readers — Quick — What’s the difference between the $30 ham or turkey you received from your thankful (and thoughtful) employer around the holidays last year and the $30 gift certificate you received this year? One’s taxable. The other isn’t. In general, all employer-provided benefits (including wages) are considered "income." But there’s an exception for some things because they have such a nominal value that accounting for them is more trouble than it’s worth ... (full story) Continue reading "When Is That Holiday Turkey Taxable?"

Posted by mm at November 26, 2004 08:24 PM | Permanent Link | Comments (0)

Tips For Stretching Your Holiday Budget

Savvy shoppers are expected to do comparison shopping online this year. And according to a recent study from JupiterResearch, there are a lot of smart shoppers out there. If the study is correct, online retail holiday sales this year will reach $21.6 billion. A rising number of Americans -- 86 million to be exact -- are expected to make holiday purchases on the Web this year compared to 73 million last year. "Consumers use the ... (full story) Continue reading "Tips For Stretching Your Holiday Budget"

Posted by mm at November 26, 2004 05:18 PM | Permanent Link | Comments (0)

Your Next Tax Hike

A few days after the election President Bush made it clear he sees no reason to back down on any of his promises--including the one to make his tax cuts permanent. Yet Bush's resoluteness aside, there are people like Robert Gordon, president of investment firm Twenty-First Securities, musing that when it comes to taxes, the news from now on is likely to be unpleasant. "I wish there were a derivatives market in tax rates. I'd ... (full story) Continue reading "Your Next Tax Hike"

Posted by mm at November 26, 2004 05:07 PM | Permanent Link | Comments (0)

The Other Side of Vanguard

When George (Gus) Sauter took Vanguard's indexing operation in 1987, the firm had just one stock index fund, with $1 billion in assets. Today the Vanguard 500 Index is the world's largest mutual fund, with $104 billion. Sauter also manages 50 other index funds at Vanguard, ranging from Small-Cap Value to European Stock. All told, Sauter, now Vanguard's chief investment officer, runs $300 billion in indexed assets. You might assume the country's most famous manager ... (full story) Continue reading "The Other Side of Vanguard"

Posted by mm at November 26, 2004 05:03 PM | Permanent Link | Comments (0)

Most Expensive Gated Communities In America 2004

As long as there have been rich people, there have been gates to keep everyone else out. Many think Tuxedo Park, just north of New York, was the first gated community in America, but businessman Llewellyn Solomon Haskell designed Llewellyn Park in Eagle Ridge, N.J., in the mid-19th century, about 30 years earlier. He sparked a trend that continues to thrive well into present day. Many of the country's richest people pay tens of millions ... (full story) Continue reading "Most Expensive Gated Communities In America 2004"

Posted by mm at November 26, 2004 04:58 PM | Permanent Link | Comments (0)

Line Up Your Tax Deductions

Welcome to December, turning the calendar to the time when we have barely one month to take steps to reduce our income tax bill for 2004. When Jan. 1 rolls around, it will be too late to do much about taxes on income earned this year. So don't make the serious mistake of waiting until after the end of this year before lining up all the legal and legitimate deductions and tax breaks that you ... (full story) Continue reading "Line Up Your Tax Deductions"

Posted by mm at November 26, 2004 04:51 PM | Permanent Link | Comments (0)

Meet The Bargain Hunters: Three Everyday Experts Share Their Tips

Think you're thrifty? Top this: Malysa Niederkohr of Mill Creek spends $50 a week on groceries for her family of four. Including diapers. Shelly Watanabe of Burien — a self-described "thrift queen" — once scored a $200 beaded cocktail dress for $4.99. Mara Phipps of Bothell has a walk-in closet jammed with bargain-priced gifts: toys, 25-cent boxes of Christmas cards and 97-cent shirts from GapKids. Christmas, she says, is done — and has been since ... (full story) Continue reading "Meet The Bargain Hunters: Three Everyday Experts Share Their Tips"

Posted by mm at November 26, 2004 03:41 PM | Permanent Link | Comments (0)

More Are Saying It With Plastic: Gift Cards The Holiday Present Of Choice

Sweaters? So five minutes ago. Gloves? Passé. What to give? Try cold, hard plastic. For the first time, gift cards are expected to replace apparel as the gift of choice for the holidays, according to the Deloitte & Touche 19th annual consumer survey, which tracks holiday spending plans and trends. Roughly 64 percent of consumers surveyed said they plan to buy gift cards. That's up from 60 percent the year before and double the rate ... (full story) Continue reading "More Are Saying It With Plastic: Gift Cards The Holiday Present Of Choice"

Posted by mm at November 26, 2004 12:44 PM | Permanent Link | Comments (0)

Social Security Reforms On The Way?

President Bush has pledged to move quickly in the New Year to overhaul Social Security but the White House is still debating the best way to reform the creaking system, administration officials and Republican sources say. While a campaigning Bush called for allowing young workers to put a portion of the payroll taxes they now pay to fund the federal retirement benefit program into private accounts, he has never publicly offered a detailed plan. "There ... (full story) Continue reading "Social Security Reforms On The Way?"

Posted by mm at November 26, 2004 08:35 AM | Permanent Link | Comments (0)

No Longer Top Dollar?

It is a mark of how low the U.S. dollar has fallen both in the markets and in the world's estimation that there is serious talk of the greenback being eclipsed by the euro as the global reserve currency. The eurozone is barely growing, many of its member states are deeply in debt, and it lacks credible political authority. Yet the Russian government says it is considering switching a proportion of its reserves from dollars ... (full story) Continue reading "No Longer Top Dollar?"

Posted by mm at November 26, 2004 08:33 AM | Permanent Link | Comments (0)

Don't Worry ... Don't Be Happy

The economy is great. Wait, it stinks. Uhh. Scratch that. Fact is, it's tougher than ever to know for sure. The euphoria surrounding the blockbuster October jobs report earlier this month has quickly faded and has been replaced by concerns about the weakening dollar and rising oil prices. And now investors, who bid up shares sharply before and after the Presidential election, are threatening to take back the gains. "This whole year has been one ... (full story) Continue reading "Don't Worry ... Don't Be Happy"

Posted by mm at November 26, 2004 08:31 AM | Permanent Link | Comments (0)

The School-Savings Plan With a 'Huh?' Name

There has been a lot of talk about "529" college-savings plans in recent months, including criticism that some of these popular state-sponsored plans charge excessive fees. But there has been far less attention paid to Coverdell Education Savings Accounts, another tax-favored vehicle that can be useful as an adjunct or alternative to a 529. The lack of buzz is partly because the Coverdells, which are offered by mutual-fund companies and other financial institutions, have an ... (full story) Continue reading "The School-Savings Plan With a 'Huh?' Name"

Posted by mm at November 26, 2004 08:24 AM | Permanent Link | Comments (0)

November 25, 2004

Exchanging Real Estate Tax Free

No one likes writing Uncle Sam large checks. Yet many people needlessly send Uncle 15% of their profit when they sell a rental house or land. There is a simple way to avoid it. It’s called a 1031 exchange and it can keep you from losing tens or hundreds of thousands of dollars in unnecessary taxes and loss of growth. The 1031 exchange is named after section 1031 of the IRS tax code. Basically, it ... (full story) Continue reading "Exchanging Real Estate Tax Free"

Posted by mm at November 25, 2004 06:15 AM | Permanent Link | Comments (0)

7 Ways to Improve Your Credit Score

While credit opportunities are opening up for consumers, poor credit ratings are blocking the doors of opportunity. Lenders are stopped when loan applicants can’t show good credit ratings. It behooves consumers to know the score when it comes to credit rating. Mortgage company decisions, as well as other lending decisions, are very credit score driven. On your credit report are three scores assigned to you buy the three major credit bureaus. Scores range from 350 ... (full story) Continue reading "7 Ways to Improve Your Credit Score"

Posted by mm at November 25, 2004 06:14 AM | Permanent Link | Comments (0)

A New Era In Banking Begins

Every night, millions of cashed checks fly around the country, headed for their home bank. Starting Thursday, technology will begin grounding many of those flights. And it may ground some consumers, too — those who try to sneak an extra day or two of "float" out of their checking accounts. A new era in banking has begun as the Check Clearing for the 21st Century Act, commonly known as Check 21, takes effect. Banks will ... (full story) Continue reading "A New Era In Banking Begins"

Posted by mm at November 25, 2004 06:08 AM | Permanent Link | Comments (0)

Free Credit Report Details Announced

Consumers in some parts of the United States will be entitled to one free credit report each year beginning Dec. 1, using a Web site called AnnualCreditReport.com, the nation's credit bureaus announced Tuesday. Consumers can also call a toll-free number or mail a written request. The free annual credit checkups were mandated by the Fair and Accurate Credit Transactions Act, signed into law last December by President Bush. The law includes a number of provisions ... (full story) Continue reading "Free Credit Report Details Announced"

Posted by mm at November 25, 2004 06:06 AM | Permanent Link | Comments (0)

Use Open Enrollment To Review Health-Insurance Plan

In the midst of holiday shopping, end-of-year tax saving steps and other seasonal activities, don't forget to review your health-insurance plan during your company's open enrollment period. It's important to examine your health-insurance options every year during open enrollment whether you plan to change your health plan or not, says Linda Schofield, an independent health consultant and president of Schofield Consulting. Open enrollment, which usually occurs during November and December, is when many companies allow ... (full story) Continue reading "Use Open Enrollment To Review Health-Insurance Plan"

Posted by mm at November 25, 2004 06:03 AM | Permanent Link | Comments (0)

One Late Payment Can Hit Finances Hard

One late payment on your credit card can pack a pretty hard punch. Not only with fees and rate hikes on the card in question, but also with penalties on your other credit cards. Almost half of all credit cards have so-called universal default penalties, which allow the credit-card company to increase your interest rate if it discovers a late payment on your credit report for any credit-card account or loan or other debt involving ... (full story) Continue reading "One Late Payment Can Hit Finances Hard"

Posted by mm at November 25, 2004 05:57 AM | Permanent Link | Comments (0)

Home Equity For The Holidays? OK, With Caution.

This season, many consumers will charge against the home for the holidays. They will use home equity debt to pay for gifts and travel. Some will do it directly, paying for presents and airline tickets with charge cards tied to home equity lines of credit. More will do it indirectly, by using equity to pay off credit card balances that end up as bloated as a turkey-sated family. Home equity debt traditionally has been spent ... (full story) Continue reading "Home Equity For The Holidays? OK, With Caution."

Posted by mm at November 25, 2004 05:41 AM | Permanent Link | Comments (0)

Is Another Recession Brewing?

IF KARL ROVE SEEMED like an obscure, shadowy figure operating behind the scenes during the first term of George W. Bush, that's clearly no longer the case. Everyone now knows the story of the slick political operator who turned a young, well-connected baseball executive into a two-term president. Last week, an old acquaintance of the Texas political handler sent Rove an open letter titled "The Next Bush Recession." In the letter, John Mauldin, president of ... (full story) Continue reading "Is Another Recession Brewing?"

Posted by mm at November 25, 2004 05:32 AM | Permanent Link | Comments (0)

Smart Holiday Shopping

While the average consumer expects to spend $702.03 over the holidays, just 4.5 percent more than last year, plenty of us will spend more than we can afford. Are you worried about a debt hangover this holiday season? Here are 5 tips to help you shop smart. 1. Do the math. Decide how much you can comfortably and realistically spend on everything for the holidays. When you're making the list, don't stretch and don't rely ... (full story) Continue reading "Smart Holiday Shopping"

Posted by mm at November 25, 2004 05:28 AM | Permanent Link | Comments (0)

November 24, 2004

In Tug-of-War on Stocks, Some Pull Away From the U.S. Market

Steve Leuthold has snapped up warehouses full of lead, copper, zinc and aluminum for the mutual fund he manages in Minneapolis. In Cleveland, investment adviser Tim Swanson is putting his wealthy clients' money into stocks in Indonesia, Poland and the Philippines. Ray Dalio in Westport, Conn., has been buying the Australian dollar, Swedish krona, Chinese yuan, gold and European bonds for his investment firm. These investment pros' moves are creating tension in the stock market ... (full story) Continue reading "In Tug-of-War on Stocks, Some Pull Away From the U.S. Market"

Posted by mm at November 24, 2004 11:20 PM | Permanent Link | Comments (0)

Inflation Is Tame, Right?

HEAR THAT NOISE? That's the sound of inflation percolating. Wednesday's report on consumer prices showed that pricing pressure is increasing some, although not as much as Tuesday's surprising wholesale price data would've suggested. The headline consumer price index increased 0.6% in October, the largest rise since May. The reading was three times September's 0.2% and more than the consensus forecast calling for 0.4%. Digging deeper into the numbers, the overall CPI was boosted by a ... (full story) Continue reading "Inflation Is Tame, Right?"

Posted by mm at November 24, 2004 07:12 AM | Permanent Link | Comments (0)

November 23, 2004

Last Chance to Trim Your Taxes

Here's a new twist on the old "What would happen if a tree fell in the forest" riddle: What would happen if Congress passed a big tax cut and nobody noticed? We might just find out this year. Although the fourth tax cut in as many years is being touted as saving taxpayers nearly $150 billion over the next decade, its real impact will be muted. The primary goodies restore tax benefits that expired at ... (full story) Continue reading "Last Chance to Trim Your Taxes"

Posted by mm at November 23, 2004 10:26 PM | Permanent Link | Comments (0)

Some New Ways To Preserve Your Retirement

Insurance companies and mutual-fund firms are rolling out a dizzying variety of annuities and other products targeted to people worrying about running out of money in their retirement. MetLife Inc. in September introduced what it calls "retirement-income insurance," essentially an annuity you buy now that starts paying out benefits in three decades. Prudential PLC's Jackson National Life unit, a big seller of variable annuities, recently became the latest insurer to add features to its annuities ... (full story) Continue reading "Some New Ways To Preserve Your Retirement"

Posted by mm at November 23, 2004 10:03 PM | Permanent Link | Comments (0)

Free Credit Reports Are On The Way

Millions of consumers for the first time will be able to get free copies of their credit report starting next week. Beginning Dec. 1, consumers in 13 Western states will have the right to order a free credit report annually from each of the three nationwide credit bureaus -- Equifax Inc., Experian and TransUnion. The program, which will be rolled out nationally next year, was mandated by Congress last year as part of the Fair ... (full story) Continue reading "Free Credit Reports Are On The Way"

Posted by mm at November 23, 2004 09:37 PM | Permanent Link | Comments (0)

Does It Pay To Save?

Remodeling is expensive. I can often help my clients manage costs, but not always in the ways they expect. Most of my clients have been told they can save money on a project by doing part of the work themselves or by cutting corners on materials. Usually, these schemes end up costing more in the long run or throwing off the schedule irretrievably. If you're planning a renovation or the future holds plans for a ... (full story) Continue reading "Does It Pay To Save?"

Posted by mm at November 23, 2004 09:24 PM | Permanent Link | Comments (0)

The Pitfalls of VOIP

Using your computer and Internet connection to make local and long distance calls has been getting a lot of attention lately. People are enticed by the savings offered by Voice over Internet Protocol (VoIP) and the ability to use a regular telephone. Before you jump on the bandwagon, consider the drawbacks. Most VoIP providers charge a monthly fee of $20 to $30 for unlimited local and long distance calling anywhere in the U.S., and sometimes ... (full story) Continue reading "The Pitfalls of VOIP"

Posted by mm at November 23, 2004 09:21 PM | Permanent Link | Comments (0)

November 22, 2004

Business Airfares, Down 11%, Might Be Lowest Ever

Toppled by the rise of discount airlines, the average airfare paid by U.S. business travelers has fallen to what might be its lowest point ever. The $217 one-way fare, measured for the July-September period by travel giant American Express, is 11% below the full-year average for 2003, and 16% off the recent peak year of 2001, according to a report to be released this week by American Express unit eClipse Advisors. The figure is the ... (full story) Continue reading "Business Airfares, Down 11%, Might Be Lowest Ever"

Posted by mm at November 22, 2004 09:51 PM | Permanent Link | Comments (0)

Card Debt

While 185 million Americans have at least one credit card, only 144 million consumers have at least one bank credit card. Over the past 10 years the average revolving bank credit card balance per carded American household has more than doubled from $2,942 to $7,519. Compared to 1980, when 55% of American households had bank credit cards, average balances have grown fourteen times. Today 79 million households, or 75%, have at least one general-purpose bank ... (full story) Continue reading "Card Debt"

Posted by mm at November 22, 2004 08:59 PM | Permanent Link | Comments (0)

Know Your Optimal Year-End Tax Strategies

There is a rash of new tax laws that millions of Americans will need to consider when mapping out their year-end tax-saving strategies. Among them, Congress approved tough new rules for car donations to charity, effective next year. Thus, if you itemize your deductions and are thinking of giving your car to charity, you should consider doing it this year, says Roy M. Quick Jr. of Quick Tax & Accounting Service in St. Louis. Lawmakers ... (full story) Continue reading "Know Your Optimal Year-End Tax Strategies"

Posted by mm at November 22, 2004 02:40 PM | Permanent Link | Comments (0)

To the Point of No Returns

New Haven — Since his re-election, President Bush has made it clear that he intends to fulfill his campaign promise to "lead a bipartisan effort to reform and simplify the federal tax code." But many in Washington are already betting that major changes won't happen, and tax lobbyists - including some with close connections to the administration and Republicans in Congress - are already working to make sure that they don't. Two decades ago, many ... (full story) Continue reading "To the Point of No Returns"

Posted by mm at November 22, 2004 02:35 PM | Permanent Link | Comments (0)

Turning the Tax Tables to Help the Poor

Now that the Republicans have solidified their control over the presidency and both houses of Congress, progressives might assume that the idea of helping the poor is off the table. But it doesn't have to be this way. If Democrats are crafty enough, they can sneak some progressive policy into the Republican agenda by focusing on specific tax relief, military benefits and President Bush's "ownership society" initiative. The poor have been off the public agenda ... (full story) Continue reading "Turning the Tax Tables to Help the Poor"

Posted by mm at November 22, 2004 02:31 PM | Permanent Link | Comments (0)

With Checkbook in Hand, Think of Uncle Sam

THE time between Thanksgiving and New Year's Eve is known as the giving season, but the important date is really April 15. Tax questions big and small color many decisions on donations. Thanks to the income tax deduction for charitable donations, a $1,000 gift actually costs a donor in the top federal income tax bracket of 35 percent only $650, but to get that benefit in April, taxpayers need to make their gifts to charity ... (full story) Continue reading "With Checkbook in Hand, Think of Uncle Sam"

Posted by mm at November 22, 2004 02:29 PM | Permanent Link | Comments (0)

Scary Bonds

HERE'S AN INVESTMENT that's such a rip-off that Eliot Spitzer ought to be investigating it. It ties up your money for five years and produces almost no profits. And then you have to pay taxes on the profits you didn't make in the first place. Who would sell unsuspecting investors such a horrible investment? The U.S. government, that's who. And if you're like most investors, you probably have this rip-off in your portfolio right now ... (full story) Continue reading "Scary Bonds"

Posted by mm at November 22, 2004 11:55 AM | Permanent Link | Comments (0)

International Lottery Scams

"Congratulations! You may receive a certified check for up to $400,000 U.S. CASH! One Lump sum! Tax free! Your odds to WIN are 1-6." "Hundreds of U.S. citizens win every week using our secret system! You can win as much as you want!" Sound great? It's a fraud. Scam operators ? often based in Canada ? are using the telephone and direct mail to entice U.S. consumers to buy chances in high-stakes foreign lotteries from ... (full story) Continue reading "International Lottery Scams"

Posted by mm at November 22, 2004 07:33 AM | Permanent Link | Comments (0)

Living Trust Offers: How to Make Sure They're Trust-Worthy

You've worked hard for your money, and made every attempt to be a conscientious saver. So it's only natural that you want some control over what happens to your assets in the event of your death. At the very least, you probably want to minimize or avoid potential hassles and headaches for your loved ones. Estate planning deals with what happens to your assets after you die. Even if you are a person of modest ... (full story) Continue reading "Living Trust Offers: How to Make Sure They're Trust-Worthy"

Posted by mm at November 22, 2004 07:32 AM | Permanent Link | Comments (0)

Work-at-Home Schemes

Be part of one of America's Fastest Growing Industries! Earn thousand of dollars a month - from your home - Processing Medical Billing Claims. You can find ads like this everywhere - from the street light and telephone pole on your corner to your newspaper and PC. While you may find these ads appealing, especially if you can't work outside your home, proceed with caution. Not all work-at-home opportunities deliver on their promises. Many ads ... (full story) Continue reading "Work-at-Home Schemes"

Posted by mm at November 22, 2004 07:30 AM | Permanent Link | Comments (0)

Taxpayers With IRAs: FYI: The IRS Does Not Approve IRA Investments

Investors with Individual Retirement Arrangements (IRAs) should be on the lookout for ads and solicitations that claim that certain types of investments for IRAs are "IRS-Approved" or "IRA-Approved." The government says these ads are misleading, because the IRS does not approve investments for IRAs. According to the Federal Trade Commission, the Securities and Exchange Commission, and the North American Securities Administrators Association, investors are getting misleading sales pitches for specific IRA investments via the telephone ... (full story) Continue reading "Taxpayers With IRAs: FYI: The IRS Does Not Approve IRA Investments"

Posted by mm at November 22, 2004 07:25 AM | Permanent Link | Comments (0)

Medical Billing Opportunities: Worth a Second Opinion

If you're looking for a home-based business that can help you pull in $20,000 to $45,000 a year using your computer, a work-at-home opportunity doing medical billing may sound like the perfect choice. But before you part with your money, consider this: The Federal Trade Commission (FTC) has brought charges against promoters of medical billing opportunities for misrepresenting the earnings potential of their businesses and for failing to provide key pre-investment information required by law ... (full story) Continue reading "Medical Billing Opportunities: Worth a Second Opinion"

Posted by mm at November 22, 2004 07:24 AM | Permanent Link | Comments (0)

The Lowdown on Chain Letters

Everybody's received them - chain letters or email messages that promise a big return on a small investment. The promises include unprecedented good luck, mountains of recipes, or worse, huge financial rewards for sending as little as $5 to someone on a list or making a telephone call. The simplest chain letters contain a list of names and addresses, with instructions to send something - usually a small sum of money - to the person ... (full story) Continue reading "The Lowdown on Chain Letters"

Posted by mm at November 22, 2004 07:21 AM | Permanent Link | Comments (0)

Investing in Rare Coins

How To Protect Yourself If you intend to buy rare or bullion coins for investment, your best protection is to spend time learning about the coins you are being asked to buy. In the past, most investment gains have gone to collectors, often known as numismatists, who have taken the time to carefully study various aspects of coins, including rarity, grading, market availability, and price trends. Investment success over the years is the result of ... (full story) Continue reading "Investing in Rare Coins"

Posted by mm at November 22, 2004 07:20 AM | Permanent Link | Comments (0)

The Bottom Line About Multilevel Marketing Plans

Multilevel or "network" marketing plans are a way of selling goods or services through distributors. These plans typically promise that if you sign up as a distributor, you'll receive commissions - for your sales and those of the people you recruit to become distributors. These recruits sometimes are referred to as your "downline." Some multilevel marketing plans are legitimate. However, others are illegal pyramid schemes. In pyramids, commissions are based on the number of distributors ... (full story) Continue reading "The Bottom Line About Multilevel Marketing Plans"

Posted by mm at November 22, 2004 07:16 AM | Permanent Link | Comments (0)

Get-Rich-Quick & Self-Employment Schemes

Scam artists offer a wide array of "get-rich-quick" and self-employment schemes that target consumers who are looking for an investment opportunity, part-time employment, or the chance to start a home-based business. If you’re tempted to respond to an opportunity to make a lot of money fast... Be skeptical about "get-rich-quick" advertising claims. Ask companies for written substantiation for claims in their presentations, especially those about success rates. Be aware that "experts" who endorse a product ... (full story) Continue reading "Get-Rich-Quick & Self-Employment Schemes"

Posted by mm at November 22, 2004 07:13 AM | Permanent Link | Comments (0)

Could 'Biz Opp' Offers Be Out For Your Coffers?

It's easy to see why ads for business opportunities like these appeal to consumers looking to make extra money: They promise good pay for little effort. But, as many consumers who have answered these ads have learned - and the Federal Trade Commission (FTC) has found - many business opportunity promotions are nothing but scams that take consumers' money up front and fail to deliver on the promises. If you're a prospective business owner, what ... (full story) Continue reading "Could 'Biz Opp' Offers Be Out For Your Coffers?"

Posted by mm at November 22, 2004 07:11 AM | Permanent Link | Comments (0)

Day Trading Ads: Cutting Through the "Bull"

No risk! Guaranteed profits! Financial freedom! Advertisements for some day trading systems or advisory services make investing look like a virtual bonanza where everyone's a winner. But if one thing's certain about stocks, commodity futures, options and similar investments, it's that they're uncertain. Any company that guarantees huge earnings is feeding you a load of "bull." Day traders spend their time at computer screens, quickly buying and selling investments within a single day - sometimes ... (full story) Continue reading "Day Trading Ads: Cutting Through the "Bull""

Posted by mm at November 22, 2004 07:10 AM | Permanent Link | Comments (0)

Costly Coupon Scams

Cents-off coupons are providing big bucks for scam artists who offer business opportunity and work-at-home schemes featuring coupon certificate booklets and coupon clipping services. Using the Internet to market these so-called opportunities, fraudulent promoters are promising entrepreneurs, charity groups and consumers earnings of "hundreds per week" and "thousands per month" simply by selling coupon certificate booklets or cutting coupons at home. The fact is that consumers and manufacturers are getting clipped in these costly—and deceptive—coupon ... (full story) Continue reading "Costly Coupon Scams"

Posted by mm at November 22, 2004 07:08 AM | Permanent Link | Comments (0)

Automatic Debit Scams

Fraudulent telemarketers have found yet another way to steal your money, this time from your checking account. Consumers across the country are complaining about unauthorized debits (withdrawals) from their checking accounts. Automatic debiting of your checking account can be a legitimate payment method; many people pay mortgages or make car payments this way. But the system is being abused by fraudulent telemarketers. Therefore, if a caller asks for your checking account number or other information ... (full story) Continue reading "Automatic Debit Scams"

Posted by mm at November 22, 2004 07:05 AM | Permanent Link | Comments (0)

8 Lottery Winners Who Lost Their Millions

For a lot of people, winning the lottery is the American dream. But for many lottery winners, the reality is more like a nightmare. "Winning the lottery isn't always what it's cracked up to be," says Evelyn Adams, who won the New Jersey lottery not just once, but twice (1985, 1986), to the tune of $5.4 million. Today the money is all gone and Adams lives in a trailer. "I won the American dream but ... (full story) Continue reading "8 Lottery Winners Who Lost Their Millions"

Posted by mm at November 22, 2004 06:39 AM | Permanent Link | Comments (0)

November 21, 2004

How to Forecast a Lifespan

Need a better idea of just how long you might live -- and how you might be able to extend that time? Try these life-expectancy calculators. One of the big question marks in planning for retirement, long-term care and related needs is life expectancy. How long will my nest egg need to last? How long will my spouse need financial and medical support? Chances are good that the answers to such questions can be summarized ... (full story) Continue reading "How to Forecast a Lifespan"

Posted by mm at November 21, 2004 08:31 PM | Permanent Link | Comments (0)

Be Happy, And Put Retirement Fears to Rest

WASHINGTON (Reuters) - If retirement fears were color-coded, they would be somewhere between orange and red right now. In honor of "National Retirement Planning Week" the investment industry has churned out a zillion studies, each saying that Americans are woefully unprepared or uninformed about how much money they will really need. They've also launched a highly visible public relations campaign fronted by actor/comedian/game show host/sometime policy analyst Ben Stein and designed to scare the pants ... (full story) Continue reading "Be Happy, And Put Retirement Fears to Rest"

Posted by mm at November 21, 2004 08:09 PM | Permanent Link | Comments (0)

Seven Ways to Stop Saying 'Oops!'

Two wrongs don't make a right. We all make foolish financial decisions. But if you want to see things get really ugly, find folks who mistakenly think they're on the right track, so they end up making the same error over and over again. Want to avoid becoming a serial blunderer? Watch out for these seven popular misconceptions. 1. Spending is a sign of wealth. To amass wealth, you need to save like crazy. And ... (full story) Continue reading "Seven Ways to Stop Saying 'Oops!'"

Posted by mm at November 21, 2004 04:39 PM | Permanent Link | Comments (0)

The Dollar Is Down, But Should Anyone Care?

WASHINGTON, Nov. 15 - It sounds eerily like the worst economic nightmare for President Bush's second term. Bogged down in a costly war that shows no sign of ending, the United States faces a gaping budget deficit and ballooning foreign indebtedness. The dollar plunges against other major currencies, while turmoil in the Middle East sends oil prices soaring. The rest of the decade is plagued by rising inflation, increased joblessness and sky-high interest rates. But ... (full story) Continue reading "The Dollar Is Down, But Should Anyone Care?"

Posted by mm at November 21, 2004 04:32 PM | Permanent Link | Comments (0)

November 20, 2004

Soaring Interest Compounds Credit Card Pain for Millions

When Ed Schwebel was whittling down his mound of credit card debt at an interest rate of 9.2 percent, the MBNA Corporation had a happy and profitable customer. But this summer, when MBNA suddenly doubled the rate on his account, Mr. Schwebel joined the growing ranks of irate cardholders stunned by lenders' harsh tactics. Mr. Schwebel, 58, a semiretired software engineer in Gilbert, Ariz., was not pleased that his minimum monthly payment jumped from $502 ... (full story) Continue reading "Soaring Interest Compounds Credit Card Pain for Millions"

Posted by mm at November 20, 2004 04:54 PM | Permanent Link | Comments (0)

The High Earner/Poor Saver

What You Want: Only a few years ago you had practically zero chance of getting 100% financing. Lenders were so nervous about it, the option wasn't even on the menu. But the refinancing boom of 1993 changed all that. Many potential refinancers had lost equity in their homes. When lenders realized that didn't automatically make these people bad credit risks, many started taking a chance on them -- and they're still doing it today. Surprisingly ... (full story) Continue reading "The High Earner/Poor Saver"

Posted by mm at November 20, 2004 06:55 AM | Permanent Link | Comments (0)

Six-Figure Zip Codes

NEW YORK (CNN/Money) - You've driven through some of these places, the bucolic, leafy suburbs where every house is huge, every driveway circles to the entry portico, and every yard is kept manicured more neatly than your Aunt Tilly's parlor. You think, "Boy this must be one wealthy part of town." But is it where they really make the big bucks? See if it makes the list of highest earning zip codes, judged by the ... (full story) Continue reading "Six-Figure Zip Codes"

Posted by mm at November 20, 2004 06:34 AM | Permanent Link | Comments (0)

November 17, 2004

Moratorium On Web Tax Advances

Congress yesterday cleared the way to keep access to the Internet largely free from taxes for the next three years, breaking a year-long deadlock. In a compromise, the Senate tweaked provisions of a bill it passed in April that reflected concerns by state and local governments that they could lose billions of dollars in tax revenue as more and more voice communication migrates to the Internet. The House, which had approved a broader, permanent tax ... (full story) Continue reading "Moratorium On Web Tax Advances"

Posted by mm at November 17, 2004 11:02 PM | Permanent Link | Comments (0)

25 Ways to Spend Your Flex Account

If you've been healthy this year, congratulations. But if you've spent less on medical expenses than you expected when you set up your flexible spending account, you may be scrambling to find ways to use the money before it disappears. Many companies let employees set aside $2,000 to $3,000 annually in pre-tax money to spend tax-free on medical expenses. It's a great deal, but the big catch is that you lose what you don't use ... (full story) Continue reading "25 Ways to Spend Your Flex Account"

Posted by mm at November 17, 2004 10:28 PM | Permanent Link | Comments (0)

Bush Advisors Urge Deeper Tax Cuts In 2nd Term

STANFORD, Calif. -- Economic advisers who helped President Bush craft his first-term tax cuts favor deeper across-the-board rate reductions instead of more radical alternatives to the tax system, which are viewed as unlikely to pass. Although Mr. Bush's outside advisers at the Hoover Institution think tank at Stanford University say a flat-tax system is desirable, they do not think that it, or a national sales tax, has the political support needed to win approval from ... (full story) Continue reading "Bush Advisors Urge Deeper Tax Cuts In 2nd Term"

Posted by mm at November 17, 2004 10:46 AM | Permanent Link | Comments (0)