Category: Personal Investments

SEC Director Speaks to Root Causes of Investor Harm

Andrew Barton, Director of the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) recently gave a speech entitled “People Handling Other People’s Money”, where he drew on his experience to make assessments of the sources of investor harm.  He described how, despite people “trying to do the right thing by their clients, colleagues, owners and…even …

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FHA to Eliminate Phantom Interest Charges for Future Borrowers

Historically, loans insured by the Federal Housing Administration (“FHA”) that were paid before maturity were subject to interest charges for the full final month in which they were repaid.  Not surprisingly, home sellers with closing dates early in the month have long complained about this practice, which increases their transaction costs. In arguing against the …

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Interesting IRS Facts

As 2013 has come to an end, we all must start gathering our 2013 tax records to start preparing for the dreaded tax man.  Do you ever wonder how many returns or how much money the IRS collects?  Or how many audits are conducted? In the 2012 IRS Data Book, released by the IRS, contains …

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Is the Stock Market Usually More Generous During the Holidays?

Last year was phenomenal for investors in the stock market. The S&P 500, for example, generated total returns exceeding 26%, the highest annual return recorded since the tech bubble of the mid/late 1990s. These positive returns likely had investors in a positive mood going into the holidays, which might explain why returns during the “Holiday …

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New Guide to Review Engagements

On December 10, 2013 the International Federation of Accountants released its guide for conducting review engagements.  The guidelines are particularly relevant for smaller firms conducting review engagements in compliance with International Standard on Review Engagements (ISRE) 2400 (Revised). The guide includes such helpful information as: illustrative examples relevant extracts from the standard practical points for practitioners’ …

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Your Loan to A Start Up May Be Treated as a Gift

When starting a business, it is common for entrepreneurs to seek initial funding from family and friends.  Since the holidays are creeping upon us, this means spending time with family members and loved ones.  During the festivities, discussions surrounding what people have been doing or planning on doing are bound to surface.  You may get …

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Embezzler’s 401k is off limits to victim employer

Recently, in the matter of Richard Todd Thomas v. James S. Bostwick, the Northern District of California rejected a motion to dismiss, allowing a convicted embezzler to pursue retirement funds retained by his former employer (the victim of his crimes). Thomas was an employee of James S. Bostwick, a Professional Corporation (“Bostwick, Inc.”) from 1996 …

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5 Reasons Californians Purchased Homes in 2013

The California Association of Realtors (C.A.R.) released the results of their 2013 Home Buyer Survey, which highlights why Californian’s purchased homes this year.  The following are the reasons and related percentages reported: 38% – Price reductions 12% – Favorable prices and/or financing 10% – Desired a new or better location 9% – Investment or tax …

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ATMs Robbed – No Guns Involved!

Banking is changing these days.  You don’t even need to go into the bank to deposit checks anymore, you can do it right from your smartphone.  Even if you go into the bank, certain banks have ATM or other sophisticated computer modules in order for you to handle transactions so you do not have to …

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It’s a rare occurrence when the DJIA moves 0.00%

Last Friday, the Dow Jones Industrial Average (DJIA) closed at 14,865.06, down ever so slightly from 14,865.14, a move of 0.00%, or more precisely, -0.000538%. This non-move was especially surprising given the volatility during the day–the DJIA reached a low of 14,785.36, nearly 80 points or 0.54% below where it both started and finished. Such …

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