Your Financial Guide

Myths about the US tax code are prolific, so much so that the case law refuting the arguments of their proponents is deep … and broad. There seems to be no end to the people willing to risk it all to avoid paying income taxes. Hey, I don’t like paying taxes either. But the simple fact is that we have to pay our taxes and anything or anyone that leads you to believe otherwise is simply wrong. And by “have to”, I mean under threat of fines and/or imprisonment: two results that happened to a chiropractor I once knew who tried virtually every one of these arguments. He went

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As of the 15th of March, BDO Romania will have a new Tax Partner, who will also act as the network’s International Tax Coordinator. Dan Barascu has more than 10 years of experience in tax consulting and, up until recently, has been managing the tax department of an important national consulting company, member of another international network.

Dan has relevant experience, having been involved in many tax consulting and tax compliance projects for companies from an extensive range of industry sectors. He is also a member of the Chamber of Fiscal Consultants (CCF), since the very first public exam organized by this institution, when only 24 of the candidates were admitted, as well as a CECCAR member. A

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Elevated: The private equity group co-founded by Bono is seeking to raise $1bn (631m) for another gig

Buoyed by a successful gamble on Facebook, the private equity group co-founded by U2 frontman Bono is seeking to raise $1bn (631m) for another gig.

Elevation Partners, which shares its name with the Irish rock bands 2000 hit, is tapping investors to launch a second fund.

Formed in 2004, Bonos foray into private equity focuses on the media, entertainment and technology industries.

Its most notable success has been a 170m gamble on social networking giant Facebook. Invested between 2009 and 2010, Elevations stake was valued at 1bn.

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The market for non-performing and underperforming mortgage loans has been increasingly active and the level of activity is likely to continue as banks and other institutional holders seek to unload illiquid assets and redeploy their capital.

Sales of distressed debt are typically at a discount. The discount pricing allows the sellers to press for a disposition with “no strings attached.” If the sellers and their selling advisers are skillful, they can also create competition among prospective buyers and time pressure to act before the opportunity to get a bargain is lost.

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“Make Good Money.”

That’s the new positioning statement anchoring Vancity’s brand strategy. The $15.5 billion community-focused financial institution based in Canada’s beautiful British Columbia chose the new catchphrase for the blend of messages it sends: That people can (1) make money do good things in their community while (2) making “good money” for themselves by (3) making good money decisions. To put it more simply: Banking with Vancity is good for you and for the community.

https://www.vancity.com/AboutUs/goodmoney/

The underlying psychology of “Make Good Money” is that consumers can make a difference without it costing anything; it’s easier and cheaper than making a donation.  Its a slogan that assumes a certain morality inherent in money that there is good money and bad money.

The “Make Good Money” campaign uses all custom photos of real members and Vancity employees. Imagery is black-and-whi

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What is the difference between a liquidity issue and solvency issue?

• A Liquidity issue (crisis) occurs when a firm (or country) has a temporary cash flow problem. Its assets are greater than its debts, but some assets are illiquid (e.g. it takes a long time to sell a house. A bank cant suddenly demand a mortgage loan back) Therefore although in theory assets are greater than debts, it cant meet its current payment requirements.
• A Solvency crisis occurs when a country has debts that it cant meet through its assets. i.e. even if it could sell all its assets, it would still be unable to repay its debts.

To be insolvent is much more serious because even if you have access to temporary funds it cant solve the underlying problem of excess debts.

Example of Solvency Crisis

When Lehman Brothers went under, its debts (liabilities) were much greater than its assets.

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There are times where you may find yourself in a sticky situation and you may not be able to cover all of your bills. Unfortunately in this day and age these times are increasingly happening more and more. In this instance you may want to make sure that you have a backup plan in regards to your mortgage, after all, if you lose anything you don’t want ti to be your house. Buying a mortgage rescue scheme is a great way to safeguard against potential mishaps that come from being late on your payments. As incredible as it may seem it is not always hopeless if you have fallen into debt so deep that you cannot seem to get out of it.

If you have already reached a low point in your financial life and you cannot get help from other sources such as family, friends and employers then you may be in need of a mortgage rescue scheme. Read more…