The government shouldn’t reward liars. But that’s the effect of changes to the Obama administration’s failing program to help homeowners modify their mortgages.
Read more of ALL BUSINESS: No consequences for lying borrowers (AP)…
ALL BUSINESS: No consequences for lying borrowers (AP)
December 26, 2009
Woman arrested in Hawaii for threat to first lady (Reuters)
December 24, 2009
Reuters – U.S. authorities arrested and charged a woman in Hawaii last week for allegedly threatening to kill President Barack Obama’s wife, Michelle, days before the Obamas were due to arrive in the state for the Christmas holiday.
Read more of Woman arrested in Hawaii for threat to first lady (Reuters)…
Happy Winter Solstice
December 22, 2009
Today marks the Winter Solstice and the first day of winter. Hundreds of people braved the snow travel and early fog to welcome the day at Stonehenge in Salisbury, England. About 700 people to be exact, including druids and pagans to see the sun rise. In ancient times, when folks were at the mercy of the seasons, the winter solstice signaled the beginning of longer days. This meant more time to harvest, which meant more food on the table.
Around 1600 years ago, Christmas coincided with winter solstice, and the observance of Christmas spread. While this has caused some of the celebrations of the seasonal changes to be lost, it has in fact added new traditions and customs. As cultures and faiths have evolved, many have their own celebrations. Native Americans celebrations of the solstice lasted several days. In China, the day of winter solstice is called Dong Zhi, which means “The arrival of Winter”. In Iran there is a celebration of Yalda, where families burn fires through the night to help the sun battle the darkness.
Whether you welcomed the day with a morning visit to Stonehenge, or a warm cup of coffee with friends, the start of the winter season can be enjoyable for everyone. Happy First Day of Winter!!
For more on today’s hottest stories, check out our top searched list. What other big stories happened today? Let us know! Come back for tomorrow’s Hot Searches and follow us on Twitter and Facebook for daily updates. Are you curious what is hot in the Europe, check out the UK Hot Searches.
Don’t forget to check out our Year End Hot Searches!
Hot Searches for December 22, 2009
1. Mike Fisher – Engaged to Carrie Underwood
2. Survivor Samoa – Natalie White Wins
3. Simon Monjack – Brittany Murphy’s Husband
4. David Goldman – Brazil Custody Battle
5. Alaina Reed Hall – Dies at Age 63
6. Winter Solstice – Shortest Day of Year
7. Brooke Astor – Getting Jail Time
8. Kevin Jonas Wedding – During Snow Storm
9. Two Legged Dog – Walks Like a Person
10. Brittany Murphy – Natural Causes?
More: Christmas holidays, holiday Christmas traditions, first day of winter, holiday travel, world Christmas
Permalink | Email this | Linking Blogs | Comments
Cowboys lead Saints 24-3 after 3rd (AP)
December 20, 2009
The Dallas Cowboys were one quarter away from ending their recent history of December swoons and New Orleans’ pursuit of perfection, taking a 24-3 lead on the Saints into the fourth quarter on Saturday. Marion Barber capped an 8-minute, 13-play drive at the start of the third quarter with a 2-yard touchdown run, his second score of the game, and the Cowboys continued to hold the NFL’s No.
Autism Numbers Are Rising. The Question is Why? (Time.com)
December 19, 2009
Time.com – Autism rates among American children have risen dramatically in just a few years. Is there truly an increased risk, or are we just looking harder for the condition?
Read more of Autism Numbers Are Rising. The Question is Why? (Time.com)…
Regulators shut banks in 5 states
December 19, 2009
The Federal Deposit Insurance Corp . took over the five. Atlanta-based RockBridge Commercial Bank , with $294 million in assets and $291.7 million in deposits was shuttered, as was New South Federal Savings Bank , based in Irondale, Ala., with $1.5 billion in assets and $1.2 billion in deposits.
Biggest Loser Finale
December 19, 2009
Everyone can’t wait to see the biggest loser finale. It is supposed to be really good. It is always entertaining to watch the show where you see people who are in serious need of weight loss lose miraculous amounts of weight.
Everybody enjoys watching it because it gives hope to everyone who feels like they are obese and have no chance of ever losing weight again. I haven’t had the chance to watch it and see who actually won but I hope to be able to watch it soon when I get the time.
I know the show is really inspirational to a lot of people. People feel inspiration when they see people who are lost causes making decisions that they should be making to change their lives. I know I always like to see the hope that people have in shows like it. I can’t wait to see who the winner is.
Privacy watchdog files complaint against Facebook (AP)
December 18, 2009
A Washington-based privacy advocacy group and nine other organizations have filed a complaint against Facebook over the social network’s latest privacy changes.
Read more of Privacy watchdog files complaint against Facebook (AP)…
Exclusive: 7-Year-Old’s Mother Speaks On Cut Braid
December 17, 2009
Sometimes, when she sits in class, seven-year-old Lamya Cammon twirls the colorful beads that adorn her braids. Her mother, Helen Cummingham, says that she does it “maybe out of nervousness or distraction.” On November 28th, the girl’s first grade teacher…
Read more of Exclusive: 7-Year-Old’s Mother Speaks On Cut Braid…
8 Tax Strategies to Consider Before 2010
December 17, 2009
Photo: Mike Fillion
With only two weeks left in 2009, you might think that it’s time to throw
in the towel on your 2009 taxes. Not so fast! This is the prime time of year
to implement some smart tax deduction strategies. With minimal effort, you
can still have a huge impact on your 2009 tax return by decreasing your
realized income. If any of these strategies appeal to you, speak with a tax
adviser, pronto.
Strategy #1: Fund your Retirement:
You may still be able to add more contributions for your 401k in 2009.
Additionally, you will be able to make tax deductible contributions to a
traditional IRA up until the 2009 tax filing deadline (April 15, 2010) for
the 2009 tax year. The IRS maximum allowed 401k limit is $16,500 in both
2009 and 2010. For those 50 and over, the catch-up contribution brings you
up to $22,000 both years. For IRA’s, the limit is set at $5,000, while the
catch-up is $1,000 for both years. Check with your employer ASAP to see if
it’s not too late to kick up your contributions.
Strategy #2: Hold Off on the Roth IRA Conversion:
Owners of traditional IRAs can convert all or a part of their accounts to a
Roth IRA if their 2009 modified adjusted gross income is under $100,000. Any
amount converted is taxable income, but is thereafter eligible for the
potential tax-free distribution rules of Roth IRA’s. The big news is that
starting in 2010, the $100,000 income threshold is removed – anyone can do a
conversion. For 2010 only, you also have the option to spread the income
from conversion over the following two years (2011 and 2012). Many have been
waiting for this opportunity.
Strategy #3: Sell Losing Investments (and Big Winners):
The S&P 500 index went from the low 900’s to a low of 666 (funny number,
right?) in March, back up to a 2009 high of 1,119. That’s one heck of a
volatile year. All in all, the market is up over 22% for the year. Depending
on when you’ve bought and sold, you might want to consider unloading big
winners to offset your losers, or big losers to offset your winners. First,
you must subtract your losses from any capital gains you’ve made. Next,
additional losses can offset up to $3,000 of your 2009 ordinary income.
Have larger net losses than $3,000? Losses above and beyond what you used to
offset your capital gains and ordinary income can be carried over into
future tax years. Before implementing investment loss strategy by selling
mutual funds, make sure that you won’t incur any penalty for holding shares
for too short of a period of time.
Strategy #4: Capital Gains Tax Cuts:
Under the Tax Increase Prevention and Reconciliation Act (TIPRA) of 2005,
US taxpayers in the two lowest tax brackets (10% and 15%) will pay no
capital gains taxes on long-term investments sold in 2009 and 2010.
Long-term capital gains result from profit made via appreciation of a
security (stock, fund, etc.) held for more than one year.
Strategy #5: When you Donate to a 501(c)(3), Everyone Wins:
Tax deductions for charitable donations can be claimed for the year in which
the donation is made. Perhaps it’s time to rummage through your house to
find valuables you no longer need or want that others can gain value from.
You may obtain fair market value on these items. Or, simply open your
checkbook or donate cash.
Donations of $250 or more must come with a written receipt or letter from
the 501(c)(3). When submitting your donation, ask for and keep all of the
appropriate documentation and receipts associated with all donations so that
you are safe in the event of a possible future tax audit. If you are
donating goods, document a description of everything given.
Strategy #6: Prepay your January, 2010 Mortgage:
If you’re a homeowner, you may want to consider making your January mortgage
payment in December, which will give you one more month of interest to
deduct from your 2009 taxes. Check with your mortgage provider to see if an
early payment is possible. It may be a great way to offset extra income
windfalls in 2009.
Strategy #7: Get Healthy on your Medical Bills:
If you have have large and predictable medical and/or dental bills that need
to be paid, consider making all the payments before the year is over. The
IRS allows families to itemize and deduct medical and dental expenses that
exceed 7.5% of their adjusted gross income, so if you’re close to going over
that percentage it may be wise to pay the bills to be able to make the
deduction.
It won’t affect your 2009 taxes (since it was already deducted), but don’t
forget to use up the rest of your 2009 FSA funds if you are in danger of
losing them in the new year.
Strategy #8: Prepare for 2010:
Using Mint.com to classify all of your deductible expenses in 2010, can allow
you to tag anything as tax related. Download your transactions to a
spreadsheet and send it to your accountant. If you’re doing your own taxes,
this info will give you a big head start in using online tax software, such
as TurboTax, which offers federal
filing free. If you expect that you’re due a hefty refund, file asap, so
that you can get back your return and re-invest it. Also, speak with your
employer about your withholding taxes if you have found that you owe too
much taxes or are getting a large refund.
Using TurboTax’s TaxCaster can help you estimate your tax burden and see the impact of any last-minute deductions.
For more of GE Miller’s writing, visit personal finance blog
20somethingfinance.com.
Martin Rogen 