Jul 4

HOME CLOSINGS MIRED IN CRUDE

“When the well started to flow, I knew what the capability would be, and it looked to me like it was going to spread everywhere and be at the mercy of the winds,” said Williger, a Texan who works in the oil business. “I really liked the unit, and really liked the price, and everybody was happy with everything.”

No one can quantify how many homebuyers are abandoning deals because they fear oil may come ashore in Southwest Florida, but it is happening.

Coldwell Banker Residential Real Estate says that six of its 22 sales that failed to close in late May and early June were on waterfront homes and the direct result of buyer qualms about the spill.

Realtors are reluctant to share such stories.

Jul 4

Tanning Bed Tax Details Issued by IRS

The IRS recently released guidance on the 10 percent excise tax on indoor tanning services levied by the Health Care Act. IR 2010-073 provides detail on the method of payment, and certain exceptions for the excise tax.

Payment
Generally, the tax will be collected from patrons at the time of purchase and paid quarterly to the IRS. Businesses should attached the payment with their Form 720 Quarterly Federal Excise Tax Return.

Exceptions
Phototherapy conducted on premises by a licensed medical professional will not be subject to the tax.

Jun 30

Credit Card Rewards Programs – Are New Laws Making Them More Stingy?

Jun29

Credit Card Rewards Programs – Are New Laws Making Them More Stingy?

It is standard lobbying practice for any industry about to come under additional regulation from Congress to shout to the press, and whoever else will listen, that any and all proposed regulations or laws of any kind would adversely affect the poor customer. Thus, any additional rules or regulations of any kind on credit card companies would make things worse for credit card customers.

More reading: Citibank Thankyou Points catalog.

Grandstanding aside, while poorly thought out regulations can hamper entire industries and harm customers, many times new government oversight can have a positive affect both on the industry as a whole, and on the experience of customers as well. I

Jun 29

EU expected to face WTO criticism in Airbus dispute

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A World Trade Organisation report on aid for European planemaker Airbus, is today expected to condemn the European Union for illegal subsidies.

The 1,000-page report was issued confidentially to the European Union and United States in March, and sources familiar with it said at the time a panel of WTO experts found some payments challenged by the United States were prohibited export subsidies and must be stopped within 90 days.

They said the document, the latest stage in a decades-long transatlantic dispute over the multi-trillion-dollar market for large passenger aircraft, would back many of the US complaints.

Airbus rival Boeing hopes the report on Airbus will stop the EU from subsidising the new A350 plane, which will compete with the US company’s 787 Dreamliner.

The European aircraft manufacturer builds the wings for all its airliners at its Broughton aerospace complex, Flintshire.

Work on a new factory for A350 wing assembly, backed with £340m of loans from the UK’s Coalition Government, is nearing completion on the Welsh site.

Boeing and Airbus parent EADS are competing for a near £30bn contract to supply the US Air Force with new airborne refuelling tankers. The

Jun 28

Building Business Credit Video: Key Decisions That Make an Impact

Building Business Credit Video

Watch my short video recording with AllBusiness covering the following question:

What are some of the key decisions you need to make before you start building business credit?

Business name selection
Business SIC Codes and NAICS Code Classification
Business Information
Financial Disclosure
Corporate Conformity

What type of key decisions have you made when building business credit for your company?

Are you ready to start building business credit? Become

Jun 27

Merchants Score Victory In Swipe Fee Battle

The longstanding battle between merchants and the banking industry has netted at least one victory for merchants on Capitol Hill. This week, the House and Senate came to an agreement over the issue of debit card swipe fees and are brining them under the purview of the federal government. What does that mean? We thought you’d never ask.

Interchange Fees

Interchange fees, or swipe fees, are a cut of the transaction that credit card issuers automatically get every time you pay with plastic. This is usually a percentage—so, if you buy a $100 DVD player, about $98 goes to Best Buy and the remaining $2 gets divvied up between Bank of America, Visa, etc. By l

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