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Passengers pay a high price for choosing budget airline

“Airlines are notoriously eager to duck their legal obligation to pay compensation when a flight is delayed, but, in refusing to repay expenses, Ryanair sinks a level further” writes Anna Tims for theguardian.com. My short break was effectively ruined as I’d lost a night’s sleep.” Once home, she applied to Ryanair for a refund of her rail expenses.It explained that transport had been requested from Hanover, but could not be provided by the airport and that passengers could submit a claim for travel expenses. Source: theguardian.com Share This:

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Who will pay? Binary options marketers clash with Court-appointed Receiver over admin expenses

“Zilmil objects to the CFTC allegations and disagrees that it has to pay 97% of the expenses, as suggested by the Receiver” reports financefeeds.com. Mr Murena had proposed that the bigger part of the expenses should be covered by Zilmil than by Citrades.The past couple of weeks have seen the Court receive a number of motions related to these expenses, with the defendants arguing against the payment scheme proposed by Court-appointed Receiver Kenneth Dante Murena.According to the CFTC allegations, from June 2013 through the present the Citrades Defendants operated a…

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Tax exemptions and deductions for families

“If the marginal income tax rate for this family is 25 percent, the five exemptions save $5,062.50 in taxes” writes Aol Staff for aol.com. We’ll help you understand who you can claim as a dependent, and which family-related deductions and exemptions will give you the greatest tax benefit.For a complete list of qualified medical expenses, see IRS Publication 502: Medical and Dental Expenses.Note: If you are subject to the Alternative Minimum Tax (AMT), a parallel tax system that is increasingly affecting middle-income taxpayers, you cannot deduct personal or dependent exemptions. Source:…

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How Individual Taxpayers Can Exploit the New Tax Bill Right Now

“At the end of every year, millions of Americans can make strategic moves to shave a few bucks off their April tax bill” reports fortune.com. Self-employed people and business owners would still be able to deduct expenses under the new tax bill.Keep in mind that the best advice depends specifically on how you’re going to be affected by the tax bill.Giving to charity, a tax deduction that’s preserved under the tax bill, is an effective way to boost your 2017 deductions on short notice.The tax bill ends these itemized deductions…

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What’s in the Tax Bill, and How It Will Affect You

“People who own small businesses of various sorts generally pay income taxes based on the normal rate for individual taxes” writes Tara Siegel Bernard for nytimes.com. You can generally deduct the amount you pay for state and local income taxes, including property taxes, on your federal income tax return.Alimony is a deductible expense for people paying it, and those who receive it must pay income taxes.The House had proposed to tax the benefit, but the final bill does not have this provision.But the person receiving the payments would no longer…

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Treasury alleges that states misspent funds intended to help homeowners fight foreclosure

“For its part, the D.C. housing agency said in its statement that the counselors spent several hours on site and that the training was useful” reports washingtonpost.com. Treasury has demanded that Nevada and North Carolina repay some unauthorized expenses, according to the inspector general’s office.But neither the audit nor Treasury officials specify whether all or just some of the 18 states and D.C. have misspent TARP funds and are being asked to repay them. Source: washingtonpost.com Share This:

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Baby Boomers could end up $227,000 richer if they stop bankrolling their adult children

“Interestingly, over half of all adults surveyed (meaning, not only those with adult children) said they’re confident they’re contributing enough to their retirement savings” writes Elena Holodny for businessinsider.com. Helping adult children foot the bill might not necessarily hurt parents in retirement, if they can afford to pay for everything.”And parents should ask their adult children to start pitching in on some of these expenses.And parent’s retirement savings could be $227,000 higher if they chose to save that money instead of putting it into their child’s living or schooling expenses,…

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Why early retirees should prepare for austerity

“But for a handful of resourceful folks, an early retirement is a viable possibility” writes unknown author for marketwatch.com. Before you commit to four or more decades living under budgetary austerity, run a reality check.Such forces can conspire to foil a well-laid retirement plan; for example, health care costs in your 50s and early 60s (before Medicare kicks in) might continue to outpace inflation. Source: marketwatch.com Share This:

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Does Your Startup Have a Spending Strategy?

“These spending choices require tradeoffs, so entrepreneurs must first develop a strategy for allocating limited resources across a wide range of available options” reports hbr.org. Let’s look at one last example, this time of two associates of mine, who started with a sensible spending strategy.Too often, assumptions about the potential market and its clients can cloud our judgement about expenses, as can personal spending habits.But spending choices require tradeoffs, so entrepreneurs must take care to develop a strategy for allocating limited resources across a wide range of available options. Source: hbr.org…

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