Daily Archives: February 14, 2012

Providence, R.I., calls on Brown University to pay property tax

Brown University Robinson Hall 2009 Providence Rhode Island.

Providence, R.I., needs money, and Ivy League Brown University seems like a natural target for property tax payments. However, Brown’s long-held status as a tax-exempt nonprofit has shielded the university, Providence’s largest land owner. Mayor Angel Taveras has singled out the university for “failure to sacrifice,” reports the Wall Street Journal.
What Brown could do for Providence
Taveras has reportedly raised taxes and fees on Providence residents and business, renegotiated labor contracts and closed four public schools in efforts to close a $22.5 million budget hole for the fiscal year that ends in June. In lieu of property tax that Providence cannot [...]

More parents expect children will be financially dependent longer

Moving Out

The age at which parents expect their kids to be completely financially independent has been going up. According to a new Pew research survey, more parents expect their kids to remain financially dependent past the age of 22.
Parents are lowering expectations
In both 1993 and this year, a selection of adults, including parents, were asked at what point they expect adult children to be entirely financially independent from their parents. In 1993, 80 percent of parents said that they think children should be completely financially independent by the age of 22. Only 18 percent of parents thought that children should become [...]

Jeremy Lin translates into Madison Square Garden share price boom

Pre-game photo of New York Knicks point guard Jeremy Lin.

In much the same way that Denver Broncos quarterback Tim Tebow’s success brought renewed interest and increased business to his team and the NFL, New York Knicks point guard Jeremy Lin’s recent success has translated into wins and serious coinage for his team and the NBA. As Seeking Alpha reports, shares of Madison Square Garden Co. (MSG) where the Knicks play their home games have reached an all-time high since Feb. 4, the date of Lin’s breakthrough game.
There’s money in Linsanity
The play of Jeremy Lin as a scorer and distributor have brought renewed life to the flagging New York Knicks [...]

Obama budget calls for huge Postal Service cuts

USPS Delivery truck

The United States Postal Service  it continues to post huge losses and is struggling to stay viable. The recently released proposed budget from the White House is suggesting huge cuts be made, including canceling Saturday deliveries among other cuts.
Small town post offices preparing to close
The United States Postal Service is enduring the worst year of its existence financially. Tthe independent government agency has, according to Businessweek, posted a loss of $3.3 billion in the last quarter of calendar year 2011. It marked the ninth consecutive quarter in which the postal service has operated at a loss.
The agency is looking to [...]

Adoption tax credits for 2011 returns

Adoption

Raising children is the largest financial commitment most of us will ever make. And for those who choose to take on that burden for the abandoned children of others — whether they be abandoned by choice or circumstance — the commitment is astonishing. The Obama administration and the IRS are acknowledging that commitment by extending the largest tax refund available under the current code.
Claim amount increased by nearly $200
According to CNNMoney, the adoption tax credit is back and will allow adoptive parents to claim up to $13,360 for each child adopted within the last six years. That is an increase [...]

Discover your love and money score this Valentine’s Day, Pt. 2

A heavyset man and a fit woman in a bikini meet on a tropical beach. A cruise ship is visible in the background.

This concludes your Valentine’s Day money quiz. CLICK HERE for part one.
Communication is key
As with anything else in a lasting relationship, communication is vital. When you and yours last talked money, how did it go?

Ideas were exchanged
Silent moments were prominent
Food was flung

While food fighting may be a normal part of your love and money relationship, I tend to settle for a free exchange of ideas. It tastes great and won’t attract ants after you pass out in the ambrosia afterglow.
[There's no afterglow with short term loans for bad credit - just results.]
Student loans and joint credit ratings
When two become one [...]

Discover your love and money score this Valentine’s Day, Pt. 1

A heavyset man and a fit woman in a bikini meet on a tropical beach. A cruise ship is visible in the background.

When it comes to love and money, couples should always have a plan. The whirlwind fervor of hot romance may burn, but if we aren’t careful, it can also burn through major cash. If you aren’t sure where your financial future as a couple stands, here’s a helpful Valentine’s Day money quiz, courtesy of Bankrate. I’ll even share my responses, along with my final love and money score.
Not just for the love of money
The first question posed by the love and money quiz involves the overall impressions one has over their financial future as part of a couple. The multiple-choice [...]

Billions of dollars in unclaimed funds still gathering dust

Cash money

Every year, billions of dollars of money that people are owed goes unclaimed, often in government benefits. A lot of free money is just sitting there, waiting for the rightful owners to claim it.
$153 million in unclaimed tax refunds
In November of 2011, according to ABC, The Internal Revenue Service announced 99,123 people had entered the wrong address on their tax returns. Checks from the Treasury Department had not been cashed and the IRS was still waiting to deliver. The average amount of the refund checks was $1,547, adding up to $153.3 million.
There are also a lot of funds waiting to [...]

Courts are kicking adverse possession practitioners out of homes

20 dollars

In the summer of 2011, a Texas man rose to infamy with the adverse possession of a $330,000 mansion in Flower Mound, Texas. The courts, however, have decided that Kenneth Robinsoin’s adverse possession is not legal, and he has been evicted.
The history of adverse possession
Adverse possession is a common law concept that has been used in European courts from the time of Henry I, and in many American states. Adverse possession is, essentially, a way to settle property disputes. A person can claim rights to property after they have possessed it for a particular amount of time in conflict with [...]

Love and homeownership

Valentine house

For couples, Valentine’s Day can’t be beat. For single people, it’s maybe not the best day of the year. However, if you want to hedge your bet to not be alone next year, you should buy a house. According to a new study, people who own homes are a little more likely to attract a partner than those who don’t. But not by a large margin.
Show me the deed
The study, conducted by Harris Interactive for the real estate website Trulia, polled 1,000 single people. Participants were asked if they would prefer to date somebody who rented or somebody who owned [...]