Forbes Personal Finance News - Michael Muffoletto

Forbes Personal Finance News - Updated Regularly

Forbes - Personal Finance
10-Year Freedom Investing Returns	2/12/2012 9:00 AM
In Freedom Investing 2012 I analyzed the latest Index of Economic Freedom from The Heritage Foundation. Here I present some of the analysis for returns over the past 10-years.
Burn Baby Burn (But Don't Deduct)	2/12/2012 6:26 AM
It would be kind of satisfying to watch the local fire department scurry around your house doing training exercises if you didn't want your house anymore and were about to have it demolished anyway. Training exercises are worthwhile and can even save lives. Besides, the fire department is a good cause.
Market's January Advance Bodes Well For Financial, Tech And Materials Stocks - And Obama	2/11/2012 4:26 PM
"As goes January, so goes the year." That in a nutshell is what Wall Street's January Barometer is all about. And this year, the first month's upbeat performance should produce bombshell results not only for the stock market but for the presidential elections, as well.
Fat New Regs Trim FATCA Down to Size	2/11/2012 5:30 AM
The Foreign Account Tax Compliance Act (FATCA) is about disclosure and transparency, but in part is to catch Americans trying to stash money overseas. Controversially, it enlists the aid of foreign financial institutions (FFIs) to do it, requiring them to identify their U.S. account holders, name names and even to withhold when Americans don't fess up. In concept, that's been a tough sell internationally, with foreign institutions and governments, not to mention U.S. persons, taking some umbrage.
10 Things To Do When You Win The Powerball	2/11/2012 5:26 AM
The Powerball jackpot has been raised to $325 million. If you win the jackpot at the drawing on Saturday night, you won't ever have to worry about money again--right?
Slowly Starving Her Mother To Get The Inheritance	2/10/2012 8:11 PM
This is difficult to imagine, but it is true.
IRS Exam Techniques and Trends Including Audit Coverage of One in Every Eight Millionaires	2/10/2012 6:53 PM
Recent news reports have highlighted the fact that the IRS is examining one out of every eight millionaires subject to U.S. tax. The high exam coverage of America's most wealthy is no accident. It is part of a concerted effort by the IRS to follow multimillion dollar advice from one of the largest consulting groups in the U.S. Specifically, scrutiny of the wealthiest taxpayers will yield the highest return.
How To Sell Stocks For A Profit, Pay No Capital Gains Tax	2/10/2012 5:42 PM
It sounds too good to be true: Sell stocks for a profit and your capital gains tax rate is zero percent. But the zero percent capital gains tax rate President George W. Bush pushed through in 2003 that took effect in 2008 is still alive and well—through year-end 2012.
Blimey! IRS Computers Dun British Lord For $13 Million	2/10/2012 4:44 PM
You’ve just got to love those Internal Revenue Service computers which match billions of 1099s, W-2s and other information documents a year against individual tax returns in a search for unreported income. The computers’ latest big catch: Lord James Edward Herbrand Russell, the youngest brother of the current Duke of Bedford and husband to former American model Dawn Alexander Russell.
Corporate News: CIE, TRLG, EXPE	2/10/2012 3:50 PM
We have a couple of big movers to talk about today. Cobalt International Energy (CIE) stock is up almost 40% on the day. Last night, the oil company said drilling tests from a well near Angola were much better than expected.

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Forbes Personal Finance News - Updated Regularly