Archive for February, 2011

10 Signs the Economy Is on the Upswing

Posted on February 23, 2011 by Saldutti

There are plenty of indications that the economy is shifting into higher gear. And they are not just buried in economists’ models and spreadsheets, but evident in the day-to-day decisions consumers and business folks make.  So, yes, you can look to the stock market – a classic leading economic indicator, nearing a 100% gain over two years – for reassurance about tomorrow. But you can also read the economic tea leaves on golf greens and in underwear sales, courtesy of Kiplinger.com.  Sales of Boxers, Briefs Leveling Off – When it’s tougher to find jobs, men wait longer to replace their…

In The Know … Tax Season 2011

Posted on February 16, 2011 by Saldutti

As a result of the late-breaking tax legislation signed into law at the end of December, the IRS announced that taxpayers who itemize deductions and those claiming the Higher Education Tuition and Fees deduction or the Educator Expense Deduction will need to wait to file their 2010 tax return until at least mid-February. The majority of taxpayers – the more than 60 percent who claim the standard deduction – aren’t affected by the delay and can e-file their return in early January.  Even if you are claiming one of these deductions, don’t wait to start your return.  Turbo Tax and other tax…

What Is the U.S. Government's Credit Score?

Posted on February 09, 2011 by Saldutti

What would happen if the federal government were subjected to the same standards as its citizens and assigned a credit score?  While the credit rating agencies guard the formulas by which they calculate credit scores, a few general concepts are widely acknowledged as major factors.  Investopedia looks at how the United States would stack up for each element that goes into a credit score. Are Bills Paid on Time?   Paying on time is good, paying late is bad. Having a debt go to collection or discharging debts through bankruptcy is very bad.  The U.S. has a very good record of paying…

What Causes Businesses to Fail?

Posted on February 01, 2011 by Saldutti

Statistics from the Small Business Administration (SBA) show that “two-thirds of new employer establishments survive at lease two years, and 44 percent survive at least four years.” This is a far cry from the previous long-held belief that 50 percent of businesses fail in the first year and 95 percent fail within five years. According to the SBA, 45,000 businesses close every month. The massive layoffs, declining consumer spending, credit constraints and foreclosures that have bombarded our economy in recent years are only part of the reasons that have contributed to the number of business failures, closures and bankruptcies that…