Blue Monday 2012- the most depressing day of the year?

12 Jan

Posted by Brian Anderson as Corporate Finance

As the date of ‘Blue Monday’ is calculated, we offer you some simple steps you can take to lessen the blues.

The January blues have suddenly become a lot more specific, being at their most vivid on 16th January according to a formula used to calculate the most depressing day of the year. This takes into account the weather, the distance from Christmas, the level of individual debt and failure of New Year’s resolutions; ‘Blue Monday’ is decided.

The outlook becomes even worse when you think about the large gap between most people’s December and January payday, combined with the delivery of active credit card users’ January statements.

The current economic climate means that Blue Monday is going to affect more demographics than ever before youth unemployment over a million, house repossessions forecast to rise again, to name but a few bleak statistics- it could feel that these January pressures are reaching their peak.

The outlook isn’t all doom and gloom though and there are steps you can take to put you on the right track.

Set an

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Understanding the features of balance transfer credit cards

07 Jan

Posted by admin as Finance Help

If you decide to get one of the best balance transfer credit cards, then you probably have some high interest debt you want to consolidate on a single card with low introductory interest rates.

Interest payments that have spun out of control can affect people for years when they try to get them under control. Often, interest payments are much more than the original debt, and this is a vicious circle of debt.

If you are in real financial difficulty, try balance transfer credit cards designed to provide a zero interest rate for a limited period of time usually 6 or 12 months during which there will be no additional interest incurred. Read more…

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Conference Board makes pitch for guaranteed annual income

01 Jan

Posted by Allison Thomas as Finance Help

As indicators stack up showing the gap between Canada’s rich and poor continues to widen, the Conference Board of Canada is calling for a renewed look at the idea of a guaranteed annual income (GAI).

A concept that is floated from time to time by advocates on both sides of the political spectrum, a GAI would provide a minimum level of income for every individual or family, with dollars earned above the GAI taxed at a relatively low marginal rate.

The idea has been touted by advocates for social justice but one of its best-known champions in North America was Milton Friedman, the free-market economist who saw the negative income tax as a means of reducing the role of government.

In a commentary published Dec. 15

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Felony Criminal Tax Charges Filed Against New York CPA for Non-Payment of Trust Fund Taxes

29 Dec

Posted by Brian Anderson as Corporate Finance

The IRS has filed felony criminal tax charges pursuant to Internal Revenue Code Section 7202 for willful failure to collect, truthfully account for and pay over trust fund taxes. This is yet another in a series of criminal tax charges being brought against responsible officers who haven’t paid over corporate trust fund taxes. In most situations the IRS proceeds against responsible officers who willfully fail to pay corporate trust fund taxes, by assessing the tax directly against the individual under Internal Revenue Code Section 6672. This is generally referred to as the trust fund recovery penalty. Sometimes the IRS goes further and brings criminal tax charges.

In this case the defendant is a New York CPA who, according to the information filed in U.S. District Court, failed to pay payroll taxes to the IRS for three years running.