Several years ago, I complained about the payday loan industry. This ‘financial system’ makes the neighborhood loan shark look downright welcoming. After all, if one needs to borrow $ 200 for a week until payday, s/he is slapped with a (loan origination) fee of $ 15 and an interest charge of $ 20. That is exactly what Lenny the Arm used to charge when he operated on the back streets of Brooklyn. (In case your math is weak, the fee for this loan is about 300%!)
Tag Archives: interest
Get Out of Debt
I recently “met” this interesting fellow, just entering what used to be called middle age. He writes about some interesting stuff. Last week (as of this writing; so by the time this is published, it’s probably last month), he wrote about turning his fiscal life around.
Oops. Another Tax Change. That Affects Most of Us.
Boy, was I surprised. Here I am advising all of you (but especially my clients) of all the changes that happened to affect tax filings this year. And, I missed one. A big one.
Continue reading Oops. Another Tax Change. That Affects Most of Us.
Mortgaged to the hilt?
What the IRS giveth, it often taketh away.
So, we know that if we are single and sell our primary residence, the first $ 250K of gains on that sale are deductible. Remember, those gains need to be properly determined.
5 years at this address
I can’t believe it. I’ve been posting my blogs at this location since June 2010. Yes, I have posted blogs in 2008, 2009, and earlier in 2010. But, those weren’t on my own site.
The Bee’s Knees?
Grow, Grow, Grow
Growing a business takes cash. That cash either comes from operations, loans, or investors. I’ve used all three vehicles to grow companies and I can tell you that the path is always clear- but never clear-cut. There are all sorts of obstacles- ones you may recognize and negotiate, one you may miss completely, and some that just seem insurmountable. The trick is always to find the best way to reach the goal.
They ain’t called smartphones for nothing!
You gotta love creative people The ones who think of things like… converting your smart phone into a 3D scanner. Just like most folks have stopped carrying cameras, since their smart phone provides the pics they need, it looks like the same may soon occur for 3D scanning. Which will be pretty convenient if you see something you want to copy. (I warned you earlier that companies’ business model are about to be upended– with copying going on, like what happened with Napster.)
Tax Rates- Pass Throughs and C’s
Soooo. You’ve heard it. You know it. Corporations all complain about that 35% tax rate- but few, if any, are paying taxes at that rate. Big companies pay virtually ZERO % and middle-market companies pay 15 to 18%. (By the way, a whole slew of single-owner corporations pay a mandated 35% tax rate!) And, our clients- the ones we convinced to form LLC’s and S entities to save on taxes want us to explain how come they are not paying taxes at the 15% to 18% rates. Continue reading Tax Rates- Pass Throughs and C’s
Are you trying to make things worse?
Three really bad things can happen to you when you file your tax return late. Before you jump up and down, please remember that if you file before the expiration of any extension you requested, you aren’t filing late. (But, you also need to know that filing an extension does not mean you have an extension to pay your taxes- they are still due on the original filing date for taxes; the 15th of March (business) or 15 April (individuals.) I am really discussing the situations when you elect to file your taxes a year late, a few year’s late….