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Andrew Presti

Winter Haven resident pans fund raids on Social Security

Following what he believes was censorship of his message, a lesser man might have given up and become silent, but not determined economist Allen Smith. Smith, a soft-spoken Winter Haven resident whose long-standing mission is to tell the American public about what he describes as the looting of Social Security by the federal government, is […]

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Andrew Presti

West Des Moines medical foundation may lay off 200

The Iowa Foundation for Medical Care in West Des Moines is expected to lay off as many as 200 workers – a fourth of its staff – over the next 12 months. The nonprofit organization’s main source of income is the federal Centers for Medicare and Medicaid Services. The foundation recently lost a major contract […]

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Andrew Presti

Defenders say home deduction is a sacred cow

Long considered a key ingredient of American homeownership, the income-tax deduction for mortgage interest now is on the menu of the commission looking for ways to trim the federal deficit. Among the $3.8 trillion in debt-cutting options being considered by the National Commission on Fiscal Responsibility and Reform is a scaled-down tax deduction eliminating second […]

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Andrew Presti

Economic data reveal a hint of consumer merriness

Americans are earning and spending more, companies are shedding fewer workers and hopes are rising for the economy as the holiday shopping season starts. Still, with businesses spending less on manufactured goods and new-home sales near their lowest level in 47 years, consumers alone might not be able to invigorate the economy and drive down […]

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Andrew Presti

CPAs year-end tax-savings tips

The Queens/Brooklyn Chapter of the New York State Society of Certified Public Accountants (NYSSCPA) recommends these Year-end Tax Tips for consumers: 1. Get Organized: Put your tax data together now. Round up receipts and cancelled checks from charities; check your latest brokerage statement for year-to-date gains or losses; make a checklist of accounts to keep […]

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Andrew Presti

Munis Yielding More Than Treasuries for First Time Since Crisis

Tax-exempt bonds are yielding more than Treasuries for the first time since the financial crisis, a relationship that history shows doesn’t last, especially as the Federal Reserve kindles inflation expectations. Investors buying AAA municipal general obligation bonds due in two years get a yield equal to 119 percent of similar- maturity Treasuries, Bloomberg Fair Market […]

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Andrew Presti

CPAs year-end tax-savings tips

The Queens/Brooklyn Chapter of the New York State Society of Certified Public Accountants (NYSSCPA) recommends these Year-end Tax Tips for consumers: 1. Get Organized: Put your tax data together now. Round up receipts and cancelled checks from charities; check your latest brokerage statement for year-to-date gains or losses; make a checklist of accounts to keep […]

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Andrew Presti

UC tuition to rise 8% for next year

Regents vote 15 to 5 for the increase, meaning undergrads will face $12,150 per year in tuition. The move meets little outcry. Financial aid also is expanded. The basic cost of an undergraduate education at the University of California will rise 8%, or $822, next school year after a regents vote Thursday, although officials said […]

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Andrew Presti

Fed to require stress tests of big banks

The Federal Reserve will require big banks to undergo a new round of stress tests — this time, to determine if they are sound enough to begin raising their stock dividends. Click here for full article!

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Andrew Presti

FASB Clarifies Troubled Debt Restructuring

The standard setter releases new proposed accounting guidance to better define what is – and is not – a troubled debt restructuring. Last month the Financial Accounting Standards Board issued a proposed guidance related to troubled debt restructuring that included several important clarifications for both debtors and creditors. The proposed accounting standards update (ASU), Clarifications […]

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