Remember, I said the JPMorgan Chase investing loss was going to probably be more than the 2 billion dollars they were talking about. Well year to date it is now way over 5 billion dollars! Holy pockets, Batman! They might as well drop it from helicopters (oh wait, that is the Fed’s idea; must not steal it!) Here is an article in The Los Angeles Times by Andrew Tangel that talks a little more about it:http://www.latimes.com/business/money/la-fi-mo-jpmorgan-earnings-20120713,0,4588784.storyCouldn’t get any worse, could it? Well you don’t know these guys. Oh well, it is only money.Remember, You can count on us to count for you!email bstonercpa@sbcglobal.net phone 818-317-6035
Should Your Kids Know About Your Finances?
My daughter doesn’t really care that much about our finances as long as she gets her allowance (although good news may prompt her to ask for an increase). I am also a little leary letting her know about all our day-to-day situations. This article by DEMETRIA GALLEGOS shows the other side, when you let your kids know all about your finances:http://online.wsj.com/article/SB10001424052702304299704577500444006439980.htmlJust to be fair, my daughter does a pretty good job managing her own money and if she continues the same, I am reasonably sure she will be able to save and thrive. But you be the judge.Remember, You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035
Results of the Supreme Court Decision on Healthcare
On July 10 I talked about the 3.8% additional tax on investment income to help pay for the Healthcare Provisions that were passed in 2010. There are also other provisions and taxes that will also take effect at the same time. See this article by Eleanor Blayney in Accounting Today:http://www.accountingtoday.com/news/supreme-court-health-care-decision-63220-1.htmlAlong with the potential expiration of the Bush Tax Cuts, 2013 could be taxing (sorry about that).Remember, You can count on us to count for you! Email bstonercpa@sbcglobal.net Phone 818-317-6035