How Corporate Fraud Costs You Money: Four Red Flags When corporations cook the books, shareholders pay dearly in terms of lost return. Although the Enrons and Worldcoms seem to be behind us, there's always another scandal brewing, even in the post-2008 era.
Retire Well By Never Retiring At All: A Quick Guide The media world is buzzing about retirement. We're hearing about it now from people whose major mission used to explaining housekeeping or the federal debt. Some British researchers, meanwhile, have concluded that working is good for your long-term health.
DoJ Files Action to Collect Multiple 50 Percent Civil FBAR Penalties in U.S.A. vs. Zwerner Numerous U.S. taxpayers with previously undisclosed interests in foreign financial accounts and assets continue to analyze and seek advice regarding the most appropriate methods of coming into compliance with their filing and reporting obligations. Many are pursuing participation in the current IRS offshore voluntary disclosure program (the OVDP which began in 2012), modeled after similar programs in 2009 and 2011. Taxpayers participating in the ongoing 2012 OVDP generally agree to file amended returns and file FBARs for eight tax years, pay the appropriate taxes and interest together with an accuracy related penalty equivalent to 20 percent of any income tax deficiency and an “FBAR-related” penalty (in lieu of all other potentially applicable penalties associated with a foreign financial account or entity) of 27.5 percent of the highest account value that existed at any time during the prior eight tax years. Under the 2009 OVDP, the FBAR-related penalty was 20 percent and under the 2011 OVDP the FBAR-related penalty was 25 percent of the highest account value during the prior six tax years. The 2012 OVDP is ongoing and does not have a stated expiration date but it can be terminated by the IRS at any time either entirely or as to specific classes of taxpayers.
14 Mutual Funds That Have Outpaced College Costs For 10 Years Over the past ten years, 14 mutual funds have outpaced the average annual rise in public college tuition costs, even if you paid a hefty commission up front and taxes along the way. While the rise in college costs seems to be a headline everyday, what investors want to know is how to outpace college costs as they save for college over time.
50 Top Colleges With Space And Tuition Discounts Despite May 1 deadlines, many colleges still have space.The following 50 colleges appear in Princeton Reviews guide to the best colleges and many will happily offer steep discounts in form of tuition grants.
Taxpayers with foreign accounts aggregating $10,000 at any time during 2012 must file Treasury Form TDF 90-22.1, also known as an FBAR. Separate from tax returns, the annual filing for 2012 is due June 30, 2013. Note that FBARs are not governed by the usual “mailing is filing” rule applicable
SEC's Definition of an Index Is Outdated What is an index? It’s hard to say these days. An index used to be a broad measure of market value. Today, it appears to mean any list of securities that are configured and managed in any way. This makes indexing confusing. To make things worse, mutual fund and ETFs that track these lists are being called index funds. I believe the Securities and Exchange Commission (SEC) needs to redefine what an “index” and “index fund” are because they’re not what they used to be.
How To Console A Friend Who Didn't Get The Job Your friend is absolutely, positively, 100 percent sure that she’s going to get the job she applied for recently. She’s so certain, the two of you agree to celebrate over dinner. Then she calls and says, dejectedly: “I can’t believe it. I didn’t get the job.”