Reuters Money

Friday is D-Day to voluntarily tell the IRS about your offshore assets

September 9, 2011

If your financial life spans multiple countries and you’ve not been paying close attention to your tax issues, be forewarned: This Friday is the deadline for the Internal Revenue Service’s latest offshore tax reporting voluntary disclosure program.

Millionaires in favor of raising their own taxes remain hopeful

September 1, 2011

Though you could argue that any time’s a good time to be rich, perhaps many of the millionaires who support Wealth for the Common Good have grown weary of eating humble pie with those silver spoons.

Philanthropy: How the major financial institutions are helping

August 22, 2011

Ten years ago, you would have been hard-pressed to find philanthropy specialists in most private banking and investment firms.  But today, philanthropic services are a major division of most wealth management operations, offering clients a myriad of investment vehicles and services to do good.

Film investing puts your money where your marquee is

August 15, 2011

Looking for a win-win situation for investing your money? You might be enticed to try something like “Win Win.”

Scrap the mortgage deduction? Americans weigh in

August 10, 2011

Paul Hennings and his wife Sheila Krueger pose poolside in the backyard of their newly purchased home in Phoenix, Arizona December 11, 2010.  REUTERS/Joshua LottWhat if the United States got rid of or changed the home mortgage interest deduction in the next round of tax reform?

Debt deal puts off tax decisions for another day

August 3, 2011

The legislation to lift the debt ceiling gives the country a framework for more than $2 trillion in budget cuts over 10 years and avoids default. But it also puts off discussion of taxes for another day — and it’s unlikely that we’ll see any movement on tax reform or significant tax changes until 2012.

Answers to the 7 big “what-ifs” of debt default

July 29, 2011

The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country’s $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. That’s why major credit rating agencies are considering a downgrade of U.S. debt.

It’s time for banks to pay back their debt to the rest of us

July 29, 2011

The devilish deficit dance going on in Congress right now has been a convenient distraction for big U.S. banks. They’ve not only escaped new taxes for now, but they also are relishing their taxpayer bailout by earning robust profits.

Deficit cutting will widen retirement gap for minorities

July 28, 2011

New research finds an appalling 20 to one chasm in net worth between white and black Americans, and an 18 to one gap between whites and Hispanics. The Pew Research Center found that the net worth gap has widened during the Great Recession, mainly because the housing bust disproportionately cut into the wealth of African-Americans and Hispanics.

What will happen to you if home mortgage tax break ends?

July 28, 2011

Aside from getting a piece of the American dream, one of the reasons people ostensibly buy homes in the U.S. is for a nice tax break. About 35 million households claimed the mortgage interest deduction in 2009, according to a recent report from the Joint Committee on Taxation.