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‘Tis the Season for Holiday Tax Tips

As we’re all aware, this decade’s Great Recession has dealt, and continues to deal, a significant blow to the budgets of many American families, leaving millions in debt, underwater in their mortgages, and in some cases falling behind on their tax bills, adding to their economic unrest.

So, even though tax day 2012 is months away, and the holidays may already have your full attention, it’s worth noting that there are some timely tips you can take between now and Dec. 31 that will make a real difference when it comes time to deal with the IRS next spring. In part one of its two-part report, according to AOL’s DailyFinance, there are four moves that could benefit your bottom line, and keep the tax man at bay, on April 15.

Negotiating Your Own “Long-Term Project”

Despite a few recent hints that the sluggish U.S. economy might be improving—including record-breaking consumer spending figures from the recent Black Friday shopping boom—U.S. President Barack Obama is ready to warn the American masses that it could take longer than expected before the country gets back on its financial feet again.

According to Reuters, in excerpts from an interview with CBS' “60 Minutes" program (that will air on Sunday), “Obama was asked whether he underestimated how difficult it would be to fix the U.S. economy when he became president in 2009. ‘I always believed that this was a long-term project," the Democratic president told ‘60 Minutes.’ He added it would ‘take time’ to reverse "structural problems in our economy that have been building up for two decades.’”

Is American Airlines Flying High With A Chapter 11 Bankruptcy?

In a classic case of what goes up, must come down, the world’s forth largest airline is now seeking the safe havens of bankruptcy so that it might once again be “something special in the air.”

According to Reuters, American filed for Chapter 11 bankruptcy protection this week “to cut labor costs in the face of high fuel prices and dampened travel demand, capping a prolonged descent for what was once the largest U.S. carrier.”

North Carolina Ranks in Top Ten States Where Jobless Are Likely to Lose Benefits

A couple of months ago we reported that North Carolina one of ten states with the largest employment gaps. That meant that as of this summer, the state of North Carolina would have needed to generate nearly 500,00 additional jobs in order to keep up with growing population numbers and old and new workers flooding the Tar Heel market in future months and years.

With these disturbing jobless figures in mind, it should therefore come as double-dose of economic reality that the Tar Heel State now also ranks among another not-so-distinguished list: One of the 10 states where the most unemployed could lose benefits.

Unfair Employment News for the Fairer Sex

The fairer sex appears to be getting a less than fair shake at new jobs created in the wake of the economic downturn. In October, we reported that women have recovered just 9 percent of jobs lost, and men are recovering nearly three times faster. And things haven’t gotten much better.

As The Huffington Post reported this week, “On Friday the Labor Department announced that the unemployment rate among women fell to 7.8 percent in November from 8 percent the month before. The slight improvement belies the fact that the unemployment rate for women has been fairly stagnant since the recovery began in June 2009. Men have done better: Unemployment for men was 8.3 percent in November, down from 9.9 percent at the start of the recovery. The reasons that men have regained jobs at a faster clip than women and have seen their collective situation improve since the recovery began are hard to explain, said Entmacher. ‘It isn't as if male-dominated industries have suddenly and really rebounded,’ she said. The anecdotal stories that Entmacher hears from middle-aged and older women, left struggling with their finances and their identities, suggest that there's also a belief lingering in the culture that it's more important to put unemployed men back to work, she said.”

Mortgage Insurer PMI's Bankruptcy Promises to Make It Harder To Obtain Loans

In this blog we often talk about the benefits of bankruptcy for individuals and businesses—debtors who are part of the American fabric that are facing the significant financial perils of the current economic malaise.

But what if one of the financial entities that is often the primary culprit for harassing these same American debtors seeks the safe havens of bankruptcy relief? What are the economic impacts of such a filing?

Taking Stock of the “Fear, Carnage, and Uncertainty”

Many are saying global economic events mean that stock market investors had little to be thankful for during this opening to the official holiday season.

According to CNN Money, “The holiday season has officially arrived, but whether investors will have much to be jolly about next week is uncertain, as Europe's debt woes continue to weigh on the market. Pessimism and optimism over Europe's debt crisis have been whipsawing stocks for months, and investors will likely continue to react to headline after headline, keeping the market's roller coaster in high gear. ‘We'll probably see more fear, carnage and uncertainty,’ said Ethan Anderson, senior portfolio manager at Rehmann Financial. ‘Investors are seeing the headlines and reacting emotionally. The common response is to jump out of the market.’”

Black Friday hangover?

Historically speaking, the day after Thanksgiving often leaves many people asking, “what Recession?” as millions of American shoppers cut coupons, stand in long lines, and bombard our nation’s stores for extreme sales on what has now come to be know as “Black Friday.” In fact, last year we saw even bigger crowds at many stores including Best Buy, Sears, Macy's and Toys R Us, which offered earlier openings than in past years or even round-the-clock hours meant to draw in average American shoppers.

Did the Threat of a Double-Dip Push Dippin’ Dots Into Bankruptcy?

Threats of a double-dip recession — a recession, followed by a short-lived recovery, followed by another recession — permeated the headlines in 2011, at a time when there were plenty of signs that this second coming of an economic downturn had begun. Stagnate hiring, a paltry job market and plummeting real estate prices, as well as low consumer confidence, all made another financial reckoning feel less like a fiction and more like a reality.

But did this double-dip economic climate put the freeze on one of the country’s most popular purveyors of subzero sweets?


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