Last-minute tax breaks for donations to Chile and Haiti

A House bill was introduced yesterday which, if signed into law, will allow taxpayers to deduct last-minute, charitable donations for disaster relief in Chile from their 2009 tax returns rather than waiting to claim the deductions on their 2010 returns. In order to qualify as deductions for the 2009 tax year under the proposed bill,

BP planning to take a $10 billion tax credit

Facing a $17 billion second quarter loss and $32 billion in spill cleanup costs, BP has decided to take a $10 billion tax credit. This credit is intended as a cash loan advance for companies in trouble. The legality of the BP tax credit is under debate. In the end, the U.S. Government may see

Regulation E May Mean Fewer Overdraft Fees, More Payday Loans

Effective July 1, a new federal banking law, Regulation E, will require banks to notify customers when an ATM or debit-card transaction will result in an overdraft or insufficient funds fee. Once the regulation takes effect, banks and credit unions will not be able to pay debit-card and ATM overdraft transactions without allowing the customer

Bernanke says Fed should regulate all banks

Federal Reserve Chairman Ben S. Bernanke opposes a draft bill now in the Senate which would remove much of the central bank’s supervisory role and limit its authority to regulation of large bank holding companies. The bill, proposed by Senate Banking Committee Chairman Christopher Dodd, would limit the Fed’s supervisory authority to banks with more
abandoned and decrepit buildings along empty street

Do payday loan shops cause urban blight?

Payday loan shops are everywhere, and some people aren’t happy about that. Coffee shops, fast-food restaurants, and convenience stores are everywhere, too. Concentrated proliferations of payday loan shops, however, have led to marked political discord not shared by other ubiquitous businesses. In legislative arenas, colorful epithets are frequently the norm when the topic turns to
the national debt clock in times square at night

IMF report says U.S. better get serious about deficit reduction

The United States is in no position to lecture other countries about their financial condition, especially after an evaluation from the International Monetary Fund (IMF). Most of the report tells anyone following the news what they already know: there’s an economic recovery in progress, but high unemployment is dragging down consumer spending. However, the IMF
A mural of the ayatollah Khomeni in Teheran, Iran

Iranian nuclear scientist goes home to the Ayatollah empty-handed

An Iranian nuclear scientist who defected to the U.S. in 2009 returned to a hero’s welcome in Iran Thursday. Shahram Amiri claims he was kidnapped by the CIA. U.S. officials say he defected on his own free will and apparently got homesick. Some speculate that Amiri has been an agent controlled by the Iranian government
Florence Nightingale

Nurses Day a week away as Nurses Week 2010 begins

May 6 kicks off Nurses Week 2010.  Nurses Week 2010 will run from May 6 to Nurses Day on May 12, a special day for the nursing profession.  These people work hard, and the members of this noble profession are deserving of some recognition.  They toil day and night at hospitals, emergency rooms, and clinics
Picture of a Blackberry Smartphone.

Payments market shakeup: Smartphone credit card processing

Wireless carriers using contactless payment technology for Smartphone credit card processing could give credit card companies a worthy competitor. Wireless heavyweights AT&T, Verizon and T-Mobile are gearing up to face off against credit card heavyweights MasterCard and Visa with a test of a mobile payments system in which consumers make a purchase by holding a
a three quarter panel shot of the Chevy volt

Will Chevy Volt battery warranty convince electric car skeptics?

The Chevy Volt lithium-ion battery has emerged as the most worrisome part of the electric car General Motors is staking its future on. To inspire confidence among potential buyers of a limited number of Chevy Volts, GM announced Wednesday that the Volt’s lithium-ion battery will be guaranteed for eight years or 100,000 miles, whichever comes
Breadline at FDR memorial

Which banks benefited from the bailout?

The financial reform bill that is heading for Obama’s desk is designed with Wall Street in mind.  The idea is to keep the recession of the last few years from happening again, and to not have to bail out any more banks.  However, that brings up the issue of which institutions actually were bailed out,
New Credit Card Laws

New credit card laws and installment loans

Installment Loans Benefit From New credit card laws 2010 Effective Monday, new credit cards will offer consumers more protection, adding peace of mind to an industry in turmoil. The main changes have been focused on “retroactive rate increases” and “impulsive penalty interest rates”. Surprisingly the fee’s incurred by rate increases and penalty’s average at a
a coffee cup full of coffee beans

Google Caffeine launch: web indexing delivers new content faster

Caffeine, Google’s new web indexing system, went live Wednesday. Announcing the global launch of Caffeine, Google said its evolving search engine technology makes even more freshly minted web content available and delivers that new content faster than before. Searchers and web content developers don’t have to change the way they use Google. But links to

Earth Hour: Because change is hard

The second annual Earth Hour will be observed  Saturday, March 27, 2010, at 8:30 p.m. local time. According to the official Earth Hour web site, as people around the world turn their lights off at the scheduled hour, a blackout “will once again cascade around the globe, from New Zealand to Hawaii.” The Los Angeles
A woman posing in her graduation gown outdoors

Student loan default trend compared to the subprime loan crisis

Student loan default is exploding and people are starting to wonder if the investment is worth the return. Hundreds of thousands of students are graduating from college this month heavily in debt. They are preparing to enter a U.S. economy saddled with a stubbornly high U.S. unemployment rate. Job creation  is stagnant. The jobs that
Dog training

Dog training can be difficult, but it is rewarding

You may be wondering what is the best way is to train your dog and what methods you have to work with. The best answer to this question is to probably enroll your dog in a basic obedience class that is offered in most pet stores for a six-week course to establish basic commands. It
the storefront signage of a mortgage bank

Record-low mortgage rates create unique refinancing opportunities

Record-low mortgage rates aren’t jump-starting the U.S. housing market. However, record-low mortgage rates and a real estate slump that is driving down home prices present unique opportunities, even for people whose mortgages are under water. With mortgage rates and home prices so low, brave borrowers are taking short-term losses to make long term gains. People