The World Bank’s Doing Business 2010 report lists Singapore, New Zealand and Hong Kong as the top 3 places to do business in the world. The US Ranks number 4. The US’s strengths are employing workers, protecting investors and getting credit (this last item makes me...
Existing Home Sales Increase in October In October, existing home sales rose by 10.1% and are now 23.5% above the year-ago rate. Sales were at a seasonally adjusted annual rate of 6.10 million, up from 5.54% in September and a 4.94 million pace a year ago. Existing...
Congress has not fixed the Estate Tax. The current estate tax rate is 45 percent with an exemption level of $3.5 million for individuals and $7 million for couples. Unless something is done, in 2010 the rate and exemption level will fall to zero and then jump up to 55...
States Attack Business! In order to collect more money to pay for their profligate spending many states are hiring collectors and placing judgments against taxpayers who owe taxes. Many states are trying to declare businesses as being resident of their state...
The New Home Buyer Credit is Extended! First time home buyers receive a $8000 credit for purchase made before April 30, 2010. Existing homeowners who have lived in their home more than 5 years (out of the last 8) can get a $6500 credit. The credit is for couples with...
IRS Employee Going to Jail for Stealing Money from Mail! An IRS employee in Kansas City opened taxpayer mail and stole cash payments. Even though she is going to jail, the poor victims are out of money! This should act as a reminder to NEVER MAIL CASH especially to...
As unemployment climbs to new highs, President Obama is claiming credit for 640k new jobs “created” be spending taxpayer’s money. The $1 trillion dollar stimulus went to big banks and union industries that are rapidly lowering their workforces and eliminating jobs....
IRS Increasing Audits of Businesses with Subcontractors! The Wall Street Journal reported today the IRS is attacking business. Established and growing companies are being audited by the Internal Revenue Service to force compaies to treat independent contractors as...
Economist Arthur Laffer warned the Federal Reserve and the government may have avoided financial disaster last year current policies may be leading us into a second Great Depression. Laffer believes Federal Reserve Chairman Bernanke desperately wanted to avoid the...
New Jersey government has raced towards the goal of being the worst place in the country for business. The highest real estate tax, aggressive tax administration and ridiculous regulations combine to make New Jersey a poor choice for new business. The “ nonprofit,...