There are essentially three ways of dealing with America's tattered balance sheet and mounting financial obligations: curbing social services, hiking taxes and generating real, sustainable economic growth--and the first two aren't exactly palatable. As for growth, minority entrepreneurs are playing an increasingly important role. Here's where the action is.
Brett Nelson, Forbes Staff
Have you ever struck a deal you later wished you could undo? Most of us have, and often you can do it. With the IRS, though, it's sometimes impossible. read »
Self-employed individuals are eligible to adopt a 401(k) qualified plan just like they would have at any large company or business with employees. The individual 401(k) plan, also known as a "solo 401(k)," is an attractive retirement savings vehicle to consider. Traditionally, most financial planners have been advising self-employed individuals [...] read »
As part of its new oversight program of the nation’s tax return preparation industry, the Internal Revenue Service recently announced it will send letters to approximately 100,000 tax return preparers who prepared returns in 2011 but failed to follow new requirements. read »
Americans may be too fat, but it's foreign financial institutions (FFIs) that are hoping to shed pounds of IRS disclosure and tax withholding problems. Why are FFIs FATCA haters? See Stripping FATCA From Our Diet. FATCA puts new filing and disclosure obligations on Americans, but imposes direct and controversial enforcement mechanisms on FFIs---whether or not they have connections with the U.S. read »
Foreign financial institutions and governments aren't happy with the Foreign Account Tax Compliance Act (FATCA). They are hoping President Obama will agree it should go. Adding to the cacophony of boos is American Citizens Abroad (ACA), an organization of U.S. citizens living overseas. It has released a report warning that FATCA threatens trillions (yes, with a T) of investment in the U.S. read »
In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in April 2008, Claimant asserted various causes of action including fraud, unsuitability, negligence, and failure to supervise in connection with the Bear Stearns Asset Backed Securities Partners, L.P. hedge fund. Claimant requested $7,600,000.00 in compensatory or rescission damages, pre- and post-award interest, attomeys' fees, costs, expenses, expert fees, forum fees, and punitive damages. At the conclusion[...] read »
For years in America, building savings for retirement was thought to be founded on a three-legged stool: 1) your company pension, 2) your social security benefits, and 3) your personal savings. With all three legs working together, many employers and employees could build a hefty nest egg by the time they reached retirement age. With this sort of financial freedom, we all could pursue lifelong dreams and other leisurely pursuits. read »
Can you compel the IRS to look into your own tax issues or even your company's? Guess?, Inc. co-founder Georges Marciano thought so, and went to court to prove it. But dismissing his suit, the court ruled that the Constitution does not guarantee anyone's right to pay taxes. Huh? read »
When it comes to solar power, small- and mid-sized business have faced a Goldilocks dilemma. Existing solar financing solutions for homeowners and corporations have been too small and too big, respectively. But now there’s something that fits them just right. read »
