If you haven’t yet begun saving for retirement, a myRA may be a reason to start. “myRA” is an acronym for “my Retirement Account.” myRAs cost nothing to open, have no fees, and let you start saving with any amount that fits your budget. You can open a myRA even if you have other retirement accounts. Your myRA belongs entirely to you and can be moved to any new employer that offers direct deposit capability.
March 1 – Due date for farmers and fishermen who chose not to make 2015 estimated tax payments to file 2015 tax returns and pay taxes in full to avoid underpayment penalties. March 15 – 2015 calendar-year corporation income tax returns are due. March 15 – Deadline for calendar-year corporations to elect S corporation status for 2016. March 31 – Payers who file electronically must submit 2015 information returns (such as 1099s) to the IRS. March
A company called Multi Time Machine makes high-end military-style watches. It refuses to sell them on Amazon. If you search for the company’s watches on Amazon, you’ll get a long list of competing watches. Is this illegal? Possibly, according to a federal appeals court in San Francisco, which allowed a lawsuit against Amazon.
Two years ago, retailer Neiman Marcus suffered a data breach that resulted in some 350,000 customers having their credit card information compromised. About 9,200 of those customers ended up with fraudulent credit card charges. That’s bad enough – but Neiman Marcus was then sued in a class action by customers who didn’t have any fraudulent charges on their cards. These customers said Neiman Marcus should nevertheless compensate them for the time and money they had spent
The Schick razor company recently complained to the National Advertising Division (an ad industry regulatory body administered by the Better Business Bureau) about ads created by the Dollar Shave Club. Schick believed the ads accused name-brand razor companies of engaging in price-gouging and ripping off customers by charging extra for useless features. One Shave Club ad showed a razor customer at a drugstore receiving a “free gift” of a kick in the groin along with his
The U.S. Supreme Court’s recent decision extending same-sex marriage to every state will have a big effect on many employee benefit programs. Prior to the ruling, most states (and the federal government) recognized same-sex marriage. If all of your employees live in states that previously recognized gay marriages, then no changes are required. But if any of your employees live in previously “non-marriage” states, then the ruling will make a difference. If some of your workers
Social media is a relatively new field, and the law is just beginning to catch up with all the issues that are being raised for businesses. Here’s a quick checklist of concerns. It’s by no means exhaustive, which is why a thorough legal review of a company’s social media practices is always a good idea. Do you look at employees’ (or job applicants’) personal social media accounts? These days, many employers want to keep tabs on
In the last few years, Fannie Mae and Freddie Mac have been selling many distressed mortgages to private investors instead of going through the process of foreclosure themselves. A number of people have complained that these investors have treated some homeowners roughly. Now, new government rules have been issued that are designed to restrain investors and give homeowners more of a chance of staying put.
Some well-off people are thinking of buying a vacation or retirement home abroad, now that the dollar is strong and the real estate market has become depressed in many parts of Europe and elsewhere. If you’re considering such a move, be aware that the rules of real estate can be very different in other parts of the world.
As a general rule, you can deduct home mortgage interest on your federal income taxes, as long as you itemize deductions. This sounds simple enough, but it can get complicated if a home is owned by more than one person. Recently, the IRS provided an explanation of how this works. According to the IRS, the key question is how much interest each owner actually paid in a given year – not what percentage of the home
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