Meals and entertainment expenses may be tax deductible. The IRS has strict rules on what qualifies. Read more in this Business Tip.
2013 will be a significant year for health care. We highlight some of the provisions that may affect you in this Insurance Tip.
Indices ended mixed today on Wall Street. The Dow and Nasdaq closed slightly in the red zone while the S&P 500 posted fractional gains. Early momentum faded in the last hour of trading. Market moves were mixed in the wake of comments from the latest FOMC meeting.
Local governments that have issued direct-pay bonds, such as Build America Bonds, should be aware that their subsidies from the federal government on those bonds are potentially subject to the budget cuts mandated as part of the so-called “fiscal cliff.” Those subsidy payments cover 35% of the interest costs on direct-pay bonds. Should the scheduled sequestration take effect, subsidies on direct-pay bonds would be cut an average of 7.6%, according to the Office of Management and Budget.* Issuers would typically be responsible for making all interest payments on their own. Build America Bonds have not been issued since 2010.
Noninterest-bearing transaction accounts, used by many small businesses, local governments, and nonprofit organizations, have had unlimited deposit insurance from the Federal Deposit Insurance Corporation since the 2008 financial crisis. However, that program is scheduled to expire as of December 31, 2012. The previous limit of $250,000 on a single account will be reinstated unless new…