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As the cold winter chill begins to fade and the buds return to the trees, it can only mean one thing – tax time is upon us. With only a few weeks left until April 15, there's no better time to visit the optionsXpress Tax Center for answers to all of your pressing tax questions, including:
· Key dates
· Capital gains and losses
· Contribution limits
· General tax education
Thinking ahead about next year's taxes? Learn more about opening an IRA account at optionsXpress.
Treasury Secretary Henry Paulson’s proposed plan to overhaul the financial system would include increasing the Fed’s powers. While saying that further regulation is not the answer, Paulson sent mixed signals by expanding the Federal Reserve’s powers to include regulating non-traditional banks – such as investment banks – and creating new bodies to regulate the mortgage industry. The timing of the new plan is interesting considering the Fed’s recent bailout of Bear Stearns – an investment bank. This bailout sent up a potentially troubling signal – large financial institutions have little disincentive to steer clear of risky investments, knowing that if they get into too much trouble, the government will be there to offer liquidity.
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