The IRS announced on Friday that it is taking a step to fight identity theft for business taxpayers by masking sensitive identifying data on business tax transcripts (IR-2020-254). The rules will apply beginning Dec. 13, and the IRS is asking for suggestions on changes to the rules before that date. Tax preparation professionals often use […]
Archives for 2020
Live Zoom with me, Portnoy, Christine Benz and Morgan Housel this Monday Eve
This is first come first serve, so if it’s full by the time you click this link I’m sorry. The way Zoom is set up is 500 people maximum. I put this alert out on as a text message first. If you’re not getting my texts, connect with me on 917-540-6095 and we’ll get that […]
The 7 biggest shockers from my four decades of financial planning
Working as a financial planner all of my adult life — the first 20 years as a corporate financial planner and the second half working with individuals — I’ve seen some big changes in the industry, some foreseeable and others, many in fact, that have been so counterintuitive or just plain out of left field […]
SEC charges ex-Wells Fargo execs with misleading investors
The Securities and Exchange Commission on Friday accused two former top Wells Fargo executives of misleading investors about a sales metric that was exposed as unreliable after bank employees were found to have opened fake accounts for customers in order to meet sales goals. Former CEO John Stumpf agreed to pay a $2.5 million penalty […]
Preet Bharara is a candidate to run SEC, putting bankers on edge
Joe Biden’s presidential transition has barely started but already banks and investment firms are anxious about two names they fear are in the running to lead the SEC. The uneasiness started late last week, when news broke that Gary Gensler — a scourge of Wall Street when he led the Commodity Futures Trading Commission — […]
FCA drops move to ban platform exit fees
The FCA has abandoned plans to ban platform exit fees. In a regulatory update today the watchdog said the move was no longer necessary as a number of platforms had dropped exit fees after the regulator highlighted the issue. The FCA criticised exit fees as a barrier to investors moving platforms. The FCA’s Investment Platforms […]
Flexi Cap Mutual Funds vs Multi Cap Mutual Funds – Where to Invest?
Flexi Cap Mutual Funds is a newly introduced category by SEBI. This newly created category offers flexibility for market cap selection as per the name. As per the mandate, the scheme needs to invest at least 65% of its corpus in equity. The fund manager has the freedom to invest corpus. The fund manager can […]
Tech news: TaxCycle integrates with Sage Accounting for Canada market, and more – Accounting Today
BlueMail, made by Blix, has released BlueMail+, an upgraded version of its email and calendar management app. BlueMail+ features an “imail bridge,” which essentially makes the app into an email-messaging hybrid solution. The imail bridge allows staff to communicate with anyone directly via Blix chat teams that can be set up by the user. The […]
“I’ll invest after the dust settles” + Nick Colas on why US stocks will keep outperforming
On the latest episode of The Compound Show, Josh is joined by Nicholas Colas (DataTrek Research) to discuss the current stock market opportunities around the world, from the US to Europe to Japan to the Emerging Markets. We get Nick’s take on autonomous vehicles, Chinese tech giants and some of the things he’s learned from […]
Editor’s Column: ‘Double disaster’ FSCS claimants need help
It is astonishing to think that investors who have been compensated by the Financial Services Compensation Scheme go on to lose some, or perhaps all, of their compensation money all over again with another dodgy firm. This unexpected ‘double disaster’ scenario was confirmed to me by FSCS chief executive Caroline Rainbird in an interview I […]