In a little over 40 days, the Credit Card Accountability, Responsibility and Disclosure Act of 2009 takes full effect. This act alters how credit card issuers market, advertise and manage consumer credit cards. For more information on the changes and what your options are as a consumer, read this Financial Strategy.
About 75% of the businesses in our country are structured as sole proprietorships, unincorporated businesses that consist of one individual owner. This business structure is the simplest and least expensive to form and dissolve; however, it opens the owner to unlimited personal liability and debts of the business are debts of the owner. For more information on sole proprietorships, read this C.P.A. Insight.
Hedge funds are investment funds that are free to invest in almost any investment opportunity, utilizing a broad array of investment strategies. Initially, hedge funds were designed to hedge against market risk, and while some still do, others take on excess risk in hopes of outsized gains. For more information on hedge funds, read this Investment Whys.
Capital gains can have a serious impact on your tax situation. It is advisable to plan ahead, as present law provides different tax rates for different types of property with rules provided by a complex tax code. For more information on capital gains and their treatment, read this C.P.A. Insight.
Debit cards work like cash—when you use one, money is automatically deducted from your checking account. While this may save you from having to carry cash in your wallet, owning a debit card does come with risks. For a list of pros and cons of owning a debit card, as well as some security tips, read this Financial Strategy.