Easy Debt Relief!

One scary statistic that appear in the WSJ today the number of entrepreneurs has gone down. This is scary because small businesses are one of the engines of an economy recovery and of an employment recovery. Makes sense small growing businesses need to add more employees proportionally than larger more established companies. This is a critical area of the economy and the government would be wise to ensure that entrepreneurs have the opportunity to succeed.

One thing that many entrepreneurs need is business financing. They need access to reasonably priced (risk adjusted of course)  funding to enable them to succeed and grow. The current economy is not providing that. You can read my posts on small businesses lack sales and small business funding for more information on this..

As a factoring company owner we see a large number of small businesses and entrepreneurs that need business financing. And one th Full Post…

The European Commission has today warned that euro zone growth will almost grind to a halt in the second half of the year.

Its prediction comes amid the ongoing debt crisis in the 17-member region.

It slashed growth forecasts for the third quarter to 0.2%, while growth for the final quarter has been revised down from 0.4% to 0.1%.

Growth will be hit by several euro zone nations having to reduce spending in order to slash debt levels.

However, the Commission is confident that there will not be a double-dip recession.

In a report, EU Economic Affairs Commissioner Olli Rehn, said growth will come to a virtual standstill in the second half of the year, adding: “The outlook for the European economy has deteriorated. Recoveries from financial crises are often slow and bumpy.”

In the meantime, the report also revealed that inflation would fall back faster than anticipated after commodity price rises had slowed.

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Estates of decedents who died in 2010 were given a very valuable option. They can elect to not be subject to estate taxes and have carryover basis for income tax purposes. Alternatively, they can elect to be subject to estate taxes yet receive a stepped-up basis for the assets owned by the decedent.

Those who choose to be subject to the estate tax system are required to file a Form 706 by September 19, 2011 if the estate is larger than $5 million. The IRS has just announced that these estates may obtain a six-month extension of the time to file to March 19, 2012 by requesting an extension on Form 4768.

Those who choose to be in the carryover basis system will be required to file a Form 8939. Originally, the IRS said that Form 8939 would be due on November 15, 2011. That deadline has been extended until January 17, 2012.

One of the reasons the IRS extended these dates is because of their delay in providing the appropriate forms.

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Car insurance is one of those things people love to hate. Its mandatory in many states, and most people think there isnt much they can do about the cost other than shop around every few years. But there are some things that can cut costs even further, and a few that will help avoid unnecessary costs in some situations.

As your car gets older and depreciates (loses resale value) there comes a point in time where its worth less to replace than you would pay in collision coverage. Collision insurance exists to cover repair expenses due to a collision, but the insurance company will not pay more than the car is worth regardless of the repair costs. Once the resale value of the car drops below the amount you pay in your premium for collision, youre better off dropping the collision coverage and putting that money into a high yield savings account for your next car (or repairs if you cant afford a newer car).

To find your cars current resale value, use the Get Your Car Value tool at Kelly Blue Book (kbb.com).

As discussed in the point above, a new car depreciates the minute you drive it off the lot.

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Dear University,

With football season just around the corner, I’m still shaking my head at you.

I was there when it all went down. In the middle of the worst fiscal crisis in your history, the ax came down on every side. To make up for a huge budget deficit, your decision-makers imposed furloughs on great professors, ceased funding to championship athletic teams, and brought on steep tuition hikes. It was the ultimate belt-tightening. But hard choices and sacrifices are made when dealing with debt, and as a personal finance writer, I get that.

Then, it seemed like that ax turned to gold. You moved forward with borrowing $321 million for a massive renovation project of the old football stadium.

I have to be honest; those so-called sacrifices are looking a little sketchy.

As a Credit Advisor, I wouldn’t tell someone in bankruptcy to liquidate their assets so they can buy a bright and shiny Maserati. Whe

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