Archive for the ‘Money’ Category

Of Crossword Puzzles and Red Wine – A Study in Economics

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May 14th, 2012

How to stay normal when the whole world is crazy

How is it possible, I ponder, as I fill in the C, that the answer to the clue “Warm up” in the New York Times crossword turns out to be ‘DEICE’? One of these days, I promise myself, I will dip into my pocket and treat myself to a new crossword dictionary, one with all the latest words, like DEICE which means ‘Warm up’. I am sadly out of date and lagging behind in my crossword English.

Shopping

“We’re going shopping!” The cry comes from the kitchen. I look around. There are only two of us here and we’re going shopping? The penny drops and I unwind from the couch with a groaning performance straight out of a grand opera.

Sunday night in the supermarket?

“They’ve got specials for one night only!” And the whole town knew about it except for a few crossword fans who were busy with the really important stuff. The supermarket is standing room only. “DEICE” meaning ‘Warm Up’? Oh you idiot, I tell myself. It’s DE-ICE and everyone turns to see who is shrieking with crazy laughter. Of course it’s DE-ICE. Now you are stuck in the supermarket. May as well be positive. Anyway DE-ICE wasn’t exactly fair. The clue should have indicated that the answer was hyphenated. What’s on sale?

The Red Wine Special

There are cases of red wines piled dangerously high in the corner under a large sign that says

1 bottle – $20
2 bottles – $35
3 bottles – $48
4 bottles – $62
5 bottles – $75
6 bottles – $87

Which one?

Hmm, which shall I take, I think. There are Pinot Noirs, Chardonnays, Cabernet Sauvignons and Merlots. There are wines from Chile and Australia and a dozen countries I have never heard of. There are men crowded around the boxes and up to their armpits pulling out bottles and making smacking noises with their lips as though they are already sipping the stuff. “And just look at these prices! I’m taking 5 cases!” I stand back and watch with interest. Most of these men would be lot happier if they were pulling out bottles of beer. “How many are you taking?” asks my wife. “None. I just decided that I don’t like red wine. Have they got a deal on whisky?”

“Don’t be ridiculous!”

The $9 deal

They are running a $9 Sunday night sale on all sorts of goodies. Like 3 cans of pickles for $9, 2 packets of cookies for $9, 4 boxes of fruit juice for $9, and more. There’s a catch in very small print. You have to spend $100 to qualify for the $9 deals. We came home with packets of all sorts of stuff we don’t normally buy, but we made the $9 deal! It cost plenty.

Loaders or Loafers?

The clue is easy: “They have no ties”. Who? Idle (Free) Loaders on the streets or those Loafers that you pull on your feet when you’re off to the beach? Even the new dictionary wouldn’t help here.

Tags: Crosswords, Red Wines, supermarket, wines
Posted in Economy, Employment, Finance, Money, Personal / Internet, Shopping | No Comments »

Where to Look For Some Spare Cash

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May 5th, 2012

There’s no guarantee you will find, but it’s worth a look

Small change. Take a look under car seats and floor mats, glove compartments, dresser drawers and your spouse’s pockets or purse may not yield much at first, but be patient, and you’d be surprised how quickly these coins add up.

Silver and gold, mainly gold

You can get cash for those out-of-style earrings and the ugly place setting you inherited from your Great Aunt. Sold by weight, they’ll fetch you a percentage of that day’s market value, minus a percentage for the buyer. Do not go for the “we’ll send you an envelope” companies and “one-day-only” hotel events. Instead, visit reputable jewelers for examination and weighing while you watch.

Trash and treasure

Craigslist, eBay and consignment shops are useful outlets for selling your unwanted stuff. Take a look around the garage and the attic for vintage clothing, vinyl record albums, furniture, tools, stamps, coins and books. Are your kids’ old rooms still full of rock band posters and unicorn figurines? Your retro items in El Paso may be exactly what a Topeka collector is seeking. Besides making some extra money, you’ll gain extra space in the house. Also, if you keep a paid storage unit, consider what items inside might be worth money.

Forgettables

Did your new TV come with a rebate offer? Send in the paperwork immediately. Fine print and tedious requirements can preclude your getting your money, but mainly companies count on your forgetting altogether. Often, you can even track your rebate status online.

Credit card points

Most people save credit card points for travel, but you can earn valuable day-to-day items, even without a big balance. Every program differs, but for fewer than 10,000 points one major company currently offers DVDs, dining gift cards, cameras, computer speakers, energy-efficient light bulbs, vacuum cleaners and even that video game your grandson wants for his birthday, all with free shipping and returns.

Loyalty programs

Revisit those dusty loyalty programs to which you belong such as grocery stores, pet stores, rental cars. Remember that hotel loyalty program you signed up for in the lobby last year as your husband dragged in the luggage? You might have a free night waiting for you.

Insurance reimbursements

As with those tax-free accounts, be sure to submit insurance forms for yourself and family on time, and keep track electronically. Many health care companies now accept claims completely online. Next, ensure your reimbursement is correct; doctors’ networks and insurance allowances change frequently, especially for out-of-network care.

Pretax employee benefit programs

If you’ve signed up for workplace pretax health or transit savings programs, be sure to keep your reimbursement receipts straight. Search your desk drawers for outstanding paperwork, and sign up for the programs’ online accounts to more easily ensure you’re getting your money back. And be sure to act within the program’s time window to avoid losing your investment.

To earn money you must work

If all the above suggestions seem like a lot of work to make small amounts of money, think about the people who work at minimum hourly rates. The work involved in checking out these tips may pay much more!

Tags: Easy money, Found money, Money, Spare cash
Posted in Business, Economy, Employment, Finance, Money, Personal / Internet | No Comments »

Tax Evasion Is One Thing, but This Is Pretty Extreme

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May 3rd, 2012

Wealthy Americans lining up to surrender their passports

It seems that wherever you are, the IRS will find you eventually. About 1,780 expatriates gave up their nationality at U.S. embassies last year, up from 235 in 2008, according to Andy Sundberg, secretary of Geneva’s Overseas American Academy, citing figures from the government’s Federal Register. The embassy in Bern, the Swiss capital, redeployed staff to clear a backlog as Americans queued to relinquish their passports.

Non-resident citizens

The U.S., the only nation in the Organization for Economic Cooperation and Development that taxes citizens wherever they reside, is searching for tax cheats in offshore centers, including Switzerland, as the government tries to curb the budget deficit. Shunned by Swiss and German banks and facing tougher asset-disclosure rules under the Foreign Account Tax Compliance Act, more of the estimated 6 million Americans living overseas are weighing the cost of holding a U.S. passport. "It started with the fallout from UBS and non-U.S. banks feeling it is too risky to deal with Americans abroad," said Matthew Ledvina, a U.S. tax lawyer at Anaford AG in Zurich."

Ceremony

During a 10-minute renunciation ceremony in a booth with bullet-proof glass windows, embassy staff ask exiting Americans whether they are acting voluntarily and understand the implications of giving up their passports. They pay a fee of $450 to renounce and may incur an "exit tax" on unrealized capital gains if their assets exceed $2 million or their average annual U.S. tax bill is more than $151,000 during the past five years. They receive a certificate within three months, telling them they are no longer American citizens.

Taxman Cometh

While the U.S. taxes citizens regardless of where they reside, overseas income of as much as $95,100 is exempt and credits help compensate for foreign taxes paid. Americans living in Switzerland can’t take advantage of the absence of a capital gains tax in the Alpine country or tax deductions allowed on pension contributions. "Every dollar you save, you lose to the U.S. tax man," said tax lawyer Ledvina. "That’s one reason why people give up citizenship."

Non-disclosure

Americans, who disclose their non-U.S. bank accounts to the IRS, must file the more expansive 8938 form beginning this year that asks for all foreign financial assets, including insurance contracts, loans and shareholdings in non-UNN.S companies.

Imperial Overreach

The 2010 Fatca law requires banks to withhold 30 percent from "certain U.S.-connected payments" to some accounts of American clients who don’t disclose enough information to the IRS. "There is incredible frustration at the audacity and imperial overreach of this law," said David Kuenzi, a tax adviser. Failure to file the 8938 form can result in a fine of as much as $50,000. Clients can also be penalized half the amount in an undeclared foreign bank account under the Banks Secrecy Act of 1970.

American Citizens Abroad

This is a Geneva-based organization that campaigns for taxation based on residency, said the government doesn’t always distinguish between U.S.-based tax dodgers with offshore accounts and expatriates that need foreign banking services.

Tags: Income tax, IRS, Tax evasion, US Citizenship
Posted in Business, Economy, Finance, Money, Personal / Internet | No Comments »

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