Latest World Headlines Shaw Capital Management Authorities Issue Warning on Tax Scam

August 14, 2011
IRS says con artists are targeting elderly and people with disabilities.
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The Internal Revenue Service is warning Northern California residents of a scam that targets the elderly and disabled.
IRS authorities have received reports of incidents in Fresno, Sacramento, Stockton, and places within the San Francisco Bay Area, including San Jose.
"These things are spreading," IRS spokesman Jesse Weller said. "We want to stop this before it spreads any further."
Elderly, low-income and disabled members of the Asian community in particular seem to be targeted in a refund scheme in which the con artist convinces the victim that he or she is eligible for a refund through the "Making Work Pay" tax credit.
This credit was issued in 2009 and 2010 to eligible working individuals based on wages. Taxpayers could receive up to $400 per person over the course of a year, Weller said.
The credit the scammers are touting is real, but the victims in these cons were not employed and therefore not eligible for a refund.
"If there's a grain of truth in something, it makes it seem more legitimate," Weller said.
The suspects then charge the victims hundreds of dollars in fees to prepare the bogus paperwork.
IRS authorities do not know if the suspects are the same in these scamming incidents or if other criminals are copying the con, Weller said.
A similar national scheme has also been seen in Northern California. This scam also preys on the elderly and claims to give refunds based on Social Security benefits.
Suspects involved in the national scam tend to market their services in churches and by using handmade fliers, Weller said.
The IRS is advising the public to be cautious and to verify claims at or by calling 800-829-1040.
-Bay City News Service
Related Topics: IRS, Jesse Weller, Making Work Pay, and Tax Scam
The Shaw Group Inc. was founded in 1987 as a fabrication shop in Baton Rouge, La., by Chairman, President and Chief Executive Officer J.M. Bernhard Jr. and two colleagues. Driven by leaders with bold vision and a strong entrepreneurial spirit, the company has evolved into a diverse engineering, construction, technology, fabrication, environmental and industrial services organization with 27,000 employees in strategic locations around the world.

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Making Money Easily

I'm sure you've wondered why some people seem to be able to make money hand over fist while others struggle to make enough to buy a cup of coffee, and some can?t even manage coffee money ! Sure there are some people who just seem to have ?the gift?, the ability to make money out of anything, even the most hair brained idea, but making money really isn?t that hard if you put forth a bit of effort. By now I'm guessing you want to know how to make some of that green stuff for yourself right ?

The best advice I can give anyone when it comes to making money is the trusty old acronym KISS - Keep It Simple Stupid ! Nothing could be more true. Don?t bury yourself in a ton of small details that serve no purpose other than to frustrate you and make you second guess yourself.

Find something you want to try your hand at, learn the basics and get on with it. The biggest reason people fail to make money is because they give up too quickly. Why do they give up ? Usually it's because they've worn themselves out emotionally and mentally over the little details and by the time they're really ready to get the ball rolling they've completely lost all interest and have no motivation for the project any longer. Again I am reminded of an old saying that is still very true - Don?t Sweat The Small Stuff !

You will make mistakes, that's a guarantee, but remember, it's through failing that we succeed. You will also at some point in time need to invest money to some degree to make money. Nothing comes free in life, so be very cautious of get rich quick schemes that promise you wealth beyond you wildest imagination in just weeks for a small one time investment.

Making money isn?t always simple, but if you follow my simple advice here, it just might be a bit easier.

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Commercial Real Estate Financing For Business Growth

Commercial property loans are used by many sectors of the business world to finance future investments and expansion efforts to grow a business.
With the recent collapse of the U.S. sub-prime mortgage market, credit is increasingly difficult for consumers to come by. Lenders are reducing their exposure to high-risk ventures. Lingering uncertainty about the credit market as well as the stability of the international money market causes widespread reluctance to finance ventures.
Fortunately for investors seeking commercial real estate financing, the commercial sector is not directly affected by these developments. Although riskier ventures will still be more difficult to finance with credit, the current economic climate has not stalled lenders.
With the recent developments in both the U.S., and across the international credit market, debt is becoming a well known concept.
While economic uncertainty would demand that all investors be prudent about entering into debt, most Organization for Economic Co-operation and Development countries are not in recession. In fact, they have actually experienced record growth and prosperity over the past decade. This lends some robustness to the major western economies.
Most business expansion is financed using commercial loans, so provided debt is entered into for purposes of investment, building, and expansion of the business (rather than a fundamental cash-flow problem). Debt is not in itself a negative thing. It is the return on that debt that is the problem.
Commercial real estate financing can be secured to fund the purchase of land for infrastructure and services development. Power plants, streets, utilities, shopping complexes, office or apartment buildings, parking facilities, parks, resorts, and golf courses, and even medical clinics or private hospitals are just a few such real estate investments.
Frequently, commercial property loans are sought as a means of refinancing existing debt to increase the total value of the investment. It is possible for private investors and companies to make a career in the reiterative process of reinvestment. Financing the cost of expansion against the projected profits of the venture can be quite lucrative.
It is true that there is still some volatility and uncertainty about the stability of the western economies. Consequently, investors should be as vigilant as ever about entering into unprofitable arrangements. Such factors influencing profitability include cost blowouts, too little potential return, or inherently risky ventures.
Investment consultants have made a market for themselves in advising smaller scale investors on commercial real estate financing, and providing them with the means of determining which projects are worth entering into, based on the available information. This includes taking into account the possible blowouts, and considering what might go wrong with any given project.
By applying basic rules of thumb, and not investing beyond certain thresholds, investors can increase their chances of sticking to projects that are within their means.
With the use of specialized software, this process can be further streamlined, allowing financiers to quickly weed out which projects are potentially unprofitable. Based on the available data and taking into account uncertainties and potential threats to the project, financiers can make smarter lending decisions.

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Debt Consolidation - The Pros And Cons

Debt consolidation essentiality means taking one loan to pay off all other loans. It's almost always easier to pay off one loan at a lower interest rate or fixed interest rate, than to pay off many at varied rates. Most individuals have a credit card debt, a mortgage, and sometimes a second mortgage to pay off. Now with three loans and three different interest rates, it is far more difficult to manage the payments than to pay off just one loan.

The idea is usually to take a secured loan to pay off the other unsecured loans. A secured loan is obtained against any asset, usually a house. Taking a loan against an asset provides for a lower interest rate as compared to the unsecured loan. This is why most people take loans against their asset to improve their cash flow and reduce the net amount paid to lenders. If the interest rate is lower, the net amount paid to any lender will also be less.

Online debt consolidation:

Debt consolidation can also be done on the internet. Online debt consolidation is getting popular, as the financial data remains safe and confidential. There are many debt calculators and loan calculators available on the internet to help people consolidate their loans.

There are some requirements such as valid income proof, residential proof, and age proof when applying on the internet. Online debt consolidators provide far more data than any other collectors.

Should everyone go for debt consolidation?

Although debt consolidation is a good idea, there is a caveat. One should go for a debt consolidation only when one is sure that he/she will be able to pay off that one single loan in time. Loans like Credit Cards are unsecured loans, so in case of default nobody can take any physical asset away. In the case of a secured loan, it is entirely possible that default may result in foreclosure of the home, or the lender secures the asset, thereby one could lose a physical property. This is why until one is sure that the secured loan payments can be met, it is essential that no consolidation be done.

In case there is some confusion, a tax advisor or help from a debt consolidation agency may be taken. They may help one decide what the best option is financially. The lenders also provide many experts who can assist in this process. Debt consolidation is a complex process, and a lot depends on the expected future cash income. If done carefully, it can relieve much pressure from debtors. Lenders are also usually cooperative in such instances and much of the interest rates and debt can be negotiated.

This however is the last resort and should not be done habitually. Debts like Credit Cards can be controlled through careful spending. If such debts are avoided in the nip of time, there will be very little need of debt consolidation.

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Can Bad News (really) Be Good News?

We're up to our eyeballs in The Information Age. This certainly shouldn't be news to anyone given the fact that we can't seem to get away from the 24/7 world that technology has afforded us. There is news, views, and supposition coming at us from every angle, including on-line versions of traditional media like newspapers and magazines, millions of websites, 24-hour TV news, emails, text messages, cell phones, satellite uplinks that connect us to far corners of the world, and up-to-the-minute videos on YouTube. It seems like a gross understatement to say that we're bombarded with information. It's Information Overload.

The economic turmoil that Americans find themselves embroiled in?communicated and amplified via technology into financial information overload?has set the stage for a new focus on the need for Financial Education. The Information Age (at least the Financial Information Age) has brought with it the need for individuals to make Financial Education a higher priority in their lives. I believe that in the Information Age?and in the upcoming Age of Turbulence alluded to by Former Fed Chief Alan Greenspan?education is more important than ever before?especially Financial Education.

Look at the headlines:

From the front page of USA Today (Friday, March 7, 2008)

'Home Equity Below 50% Level' ? Falling prices sap owners' 'wealth'

And from the USA Today's Money section'same day, front page --

'Record: 1 Million Homes in Foreclosure' ? Nearly 3 million behind in mortgages for 4th quarter

Look at the issues that will drive this year's election:

Healthcare coverage and costs, the economy, shoring up Social Security and Medicare as baby boomers begin to tap those programs in droves. There's more: jobs, skyrocketing oil (and gas!) prices and an ever-evolving technology revolution that is and will continue to change the way the world views jobs?and 'job security'?forever.

In a recent article I wrote for my column for Yahoo!Finance, I cited an article in the Friday, January 11, 2008, United States edition of the Financial Times. The newspaper posted one of the biggest "The End is Near" headlines I have ever seen. Unfortunately, not many people paid attention to it. Next to Federal Reserve Chairman's Ben Bernake's picture, the front-page headline read: "U.S.'s Triple-A Credit rating Under Threat." The article begins with: "?The U.S. is at risk of losing its top-notch triple-A Credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending,? Moody's, the Credit rating agency, said yesterday."

I believe one of the reasons many people did not take much notice of this doom and gloom headline is because I doubt many people know what the headline means. I doubt many people know what Moody's is or why their warning is important.

Are you one of them? Someone who doesn?t know what Moody's is? or the role it plays in the financial world?

I rest my case.

Moody's is an Investors Service that performs financial research and analysis on commercial and government entities (I pulled this directly from Moody's website. It's easier than ever today to learn things?to get definitions of words you aren?t familiar with and find resources and tools)

So? back to the quote from Moody's:

Moody's is essentially saying that the U.S. may soon become a sub-prime nation. The world markets will no longer recognize us as a financially responsible country and the U.S. will not be able to maintain its financial and economic supremacy. In other words, "The End is Near" and from Moody's perspective it's less than ten years away.

But now ? not ten years from now ? is the time for financial education. Now is the time to use The Information Age to your advantage and invest time (before you invest your money) into the financial education that will help you to understand the "headlines" that affect our day-to-day lives and understand how they do, could, or will affect you and your family.

Now is the time to learn so that when you are faced with important financial decisions you have the mental tools and toughness to understand your options. You'll know where to go to learn more if you need to, how to find qualified people to advise and assist you (true advisors? not salespeople) and then make the best choices and decisions with respect to your personal financial situation with confidence.

I believe that the word 'stress' has taken on a new meaning for many people. Today stress is related to survival?not just keeping up with the Jones?. In his book Words That Work, Frank Luntz talks about the words that are important to us ? today. Words like 'stress-free'... and ?lifestyle? and ?imagine.? True reflections on our world? Imagine a stress-free lifestyle ? and the quality of life you deserve.

I have always believed that anything is possible ? for anyone ? if they are willing to do what (or whatever?because sometimes the ?what it takes? means making sacrifices and getting off the couch or choosing different friends or believing and trusting in yourself, against all odds) it will take. The Rich Dad Company was built on the belief that you can change the way you think about money and you can take control of your financial future and the life you want and deserve.

And it all starts with ? you guessed it? financial education.

There are always challenges and obstacles on the road to success. And nothing comes without a price. In my opinion, investing some time today in Financial Education is a small price to pay if it could mean fewer sleepless nights, fewer arguments with a spouse or partner over money, and more quality time with those you love.

The headlines may shout (or imply) gloom and doom, but financially-educated investors see opportunities in adversity. Financial education will help you to see opportunities where others don?t and profit in good times ? and in bad.

I wrote my new book Rich Dad's Increase Your Financial IQ ? Get Smarter with Your Money because today becoming financially educated is more important than ever before. For you, your family, your children and your grandchildren. Now is the time for Financial Education. Now is the time to get smarter with your money. And today is a great day to start.

Copyright 2008 ? The Rich Dad Company

Robert T. Kiyosaki, author of Rich Dad Poor Dad -- USA Today's #1 Money Book for two years running and the international runaway best seller -- is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom. He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money.

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A Currency Trading How To Guide

I'm going to share with you a currency trading how to guide. This should help you become an overall better trader, which will result in better profits over the long term. This is a great business opportunity for individuals to make a second income from their own home.

Have A Game Plan: The worst thing you can do is hop in front of your computer in the morning, turn it on and figure out what you're going to do for the day. You need to have a game plan to be successful in this game. A game plan offers a few very important points. The first is that it gives you action tasks, instead of thinking tasks. You don't have to think about what you're going to do, you just do it. The second point is that you need to evaluate and calibrate your strategies. You just do something for one day and figure out if it is good or not. That's why you need a game plan you can apply day after day, so you can eventually figure out what is good and what is bad.

Play With Good Margins: When starting out it is instinctive to do small trades with small margins. The reason is simple: you risk less and you can learn more. That is perfectly fine and I support that, but the problem arises when you look at your bottom line. You're going to end up with distorted picture of what your real trading capabilities are. Your broker takes a cut, so if you make a small profit, a significant portion of that will goto the broker. As well, if you make a loss, your brokers cut will be added onto it. That means your profits are smaller and your losses are bigger. You get the idea that you're losing, when in reality you could be ahead if the margins were better. Be aware of that.

Keep It Simple: You don't have to over complicate everything. Yes, you're working to make an income from home. No, it's not rocket science. The more simple you keep things, the easy it is to follow and apply correctly.

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Key Credit Repair Skills For Increasing Credit Report Scores Part10

You probably have the experience of missing a few credit payments. And lenders often automatically include a fee charge for non payment, this being the admin fees for your default account which will eventually require more follow through effort from the lender. In addition, your lender will include interest charges on the outstanding amounts as well. This is penalty for not paying your bills on time thereby incurring a certain amount of interest. To compound this scenario, worst of all you have created a ding on your credit, and hence a bad record in your credit report. If you ignore this outstanding balance and let it accumulate, expect to see your credit score reduce significantly.

Getting that Waiver is not the issue. Ego is.
You have a sure win choice. But you may not use it due to your ego. You could in actuality reduce or remove those late fee charges and additional interest charges in most cases. Call up the lender or your banker, and you probably will be waived of the charges. Lenders want to get paid, and if they believe that you will pay your bill more quickly by waiving the late fee and interest charges, they will more often than not remove the fee in exchange for prompt payment.

Face Up The Embarrassment And Salvage Your Credit Report Score.
The issue here is not how to get the charges waived, but more so on how you work around that huge ego of yours and rationalize between saving face and money. For some people, even the thought of asking for waiver over the phone is beyond them. This is also one key reason why some people choose to enlist the assistance of credit repair companies instead as getting a third party to help smooth out the embarrassment of asking lenders for grace periods, chargers waivers, negotiations are much easier than doing it themselves. Obtaining waivers on behalf of clients is the credit repair company top weapon as the first step in their repair service.

You Gain More Financially.
The greatest benefits of overcoming the embarrassment and doing the above yourself are that you are more committed to pay your bills in future, more soul searching and finally you do not incur any additional charges from credit repair companies.

The best kept secrets in the credit Repair industry is that getting waivers for fee charges is the first and key services that they perform on behalf of clients. So imagine the amount you could have saved, your credit repair company service fee not to mention the late fee and interest charges if you could do it yourself, and at no cost too.

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Introducing Options Strategy ? Vertical Spread

There are more than 20 options strategies can be applied, but one of my favorite is Vertical Spread. The meaning of vertical spread is that you purchase and sell options of the same type (same stock symbol) with same expiration date but with the different strike price.

In Vertical spread, you can choose to apply bull put spread, bear call spread, bull call spread and bear put spread. Bull put spread or bull call spread can be applied when you think that the stock is bullish, that's what the bull word imply. And if you think the market is bearish, use the otherwise strategies (bear call spread and bear put spread) which have the bear word in it.

When the option sold is more expensive than the options bought, there is a net credit, this strategy call vertical credit spread. Both Bull put spread and Bear call spread are credit spread. Therefore, without fail you have the money in your pocket immediately after the button click on screen.

The benefit of using Vertical Credit Spread is that you can limit your loss due to the spread. Take an example, if your spread difference is $5, your limiting lost will be $500 (every option contract = 100 stock, therefore multiply by 100). The smaller the spread, the better chance to win as you minimize your risk.

My preferred strategy is using 2.5 spread, for example, sell/buy a pair of options strike price of 25 and 22.5, the difference is the spread which is 2.5 in this example.

On the other hand, selling a spread is normally better than buying a spread. Becoming the seller makes you have the advantage of the time value of the options. As you know that when option price is decreasing when close to the expired date, like a water fall pattern, time is on your side.

For an example, if you are selling QQQQ strike price 45 and buying the strike price 43, you have 2 dollar spread. Selling $0.8 option of the strike price 45 and buying at $0.3 option at 43 strike price make you have the credit of $0.5. If QQQQ hovers above 45 until the expiry date, you earn the credit of $50 ($0.5 x 100) by letting both of the options becoming worthless.

Nevertheless, set the stop loss at the level of the sold option minus the credit earn, if you use the above example, the stop loss should be at 44.5. Never allow the stock price drop further than the stop loss target, if it does, buy back the sold leg and let the bought leg run.
If you really want to play safe, cut the loss and close the position when the stop loss is triggered.

Doesn?t it sounds too simple to be truth? Find out more from options trading Academy.

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Conserve H20 And Watch Your Savings Grow

It is not enough that you are aware of water being a very important resource. You should also be aware that it is a very scarce resource. In some countries, women walk tens of kilometers to fetch clean water. Before you soak on that bath or let another dripping faucet off the hook, know that when you conserve water, you not only add up to your savings, but your water conservation efforts constitute your social responsibility, too.

Here are a number of tips on how you can conserve water, save to fatten your wallet, and also help others get their fair share of this precious resource.

1. Repair leaking faucets and bathroom fixtures. That faucet or cistern drip adds up to gallons of water wasted and water bills being bloated. A wrench and some sealer may be sometimes all it takes for you to do your share of water conservation.

2. Learn a few water-saving tricks like putting a brick inside the cistern so that instead of 7 gallons being flushed down the drain, you are down to 5 or 6 gallons. Don?t flush trash in the bowl; not only do you waste clean water but you run the risk of your toilet being clogged, too. Turn off the shower while you are lathering; you save on water and you save on the shower gel. Don?t let the faucet run when your brushing your teeth; fill a glass with water and proceed to brush. Your dishwasher drinks up dozens of gallons of water so optimize each run by having all your dishes done one-time. Same holds true for your washing machine: wash at the machine's optimum load, not a few hankies and undies at a time.

3. Don?t flood your lawn with the automatic sprinkler; make sure the grass just gets the required amount of watering and turn off that sprinkler on time. Your garage or driveway may be awash with oil spills but before washing them off, sprinkle sawdust or sand first so that don?t use that much water washing those spills off. The patio and the gazebo are dusty and strewn with dry leaves? Of course you can wash the dirt away but if a broom and pan will do, why waste that precious water?

4. The exterior walls of the house and the fences are in need of a wash-over but you can time it during the next rain-shower so that you don?t use as much water as when you do clean during a hot sunny day. The glass windows can maybe use just a damp cloth and old newspaper to have that sparklingly clean look instead of pouring water on them.

5. Teach your kids and other house mates to be responsible in their use of water. Turning off the faucet or the shower to its tightest takes just a little effort and ensures there are no precious drips. Don?t let the tub overrun; they can soak and yet be responsible at the same time.

Follow these simple water conservation tips to help the environment and your wallet at the same time.

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Getting A Personal Loan When You Have A Poor Credit Rating

Personal loans are easy to obtain. They can be used for a variety of financial needs. However, the less good your credit is the more difficult a time you will have getting a personal loan with decent rates. There are two types of personal loans, secured and unsecured. Unsecured personal loans mean no collateral is needed to secure the loan. If you have bad credit, you will only be approved for a secured loan because you are considered high risk. The forms of collateral accepted include vehicles, property, and other tangible items. The collateral has to have a value sufficient to cover the balance due on the loan.

There are many reasons people have bad credit. It can be that they have been reckless with their money and finances. For most people this isn't the case. Back credit can be the result of a death in the family resulting in loss of income. Layoffs or getting fired from a job often come without warning. Medical emergencies also lead to bad credit as can divorce. Regardless of the reason a person has bad credit; they are still going to need to apply for a personal loan at one point or another.

There are many lenders out there that understand bad credit can happen to good, responsible people. Therefore, they may be willing to give you the chance to prove you will be responsible again and repay the personal loan. You will likely have a high interest rate associated with your personal loan, and that can leave a bitter taste in your mouth. Take it in stride and look at the positive side of things. Getting a personal loan at any interest rate can help you rebuild your credit. Make sure you pay the payments on time. To save on the interest you pay, consider sending extra payments whenever you can.

Be cautious when applying for a personal loan online. There are scam artists out there who prey on those in need of a personal loan, especially if they have bad credit. Never agree to pay any processing fees or other types of payments. It is against the law under the Federal Trade Commission for any lender of personal loan funds to ask for processing fees. Many individuals with bad credit are sucked into these scams because they need the loan so bad. It is important to check out the lender with the Better Business Bureau. If you are suspicious of anything, do not move forward with the loan process.

Don't forget to check with the smaller lending companies. Most large lenders are very impersonal and base your eligibility on a computer generated decision. Smaller lending companies are more likely to take the reasons for your bad credit into consideration along with other factors. If you can establish that you are responsible and that you have income sufficient to repay the loan, then this may be the opportunity you have been hoping for.

It can be a huge let down if your personal loan application is denied. Do all you can to ensure that your application is approved the first time. Do not lie on your personal loan application. This can create many other issues for you that aren't good. Be honest as well as describe any issues that you think the lender might see as a red flag. Work hard to maintain good credit so that you won't be denied future loans because of a poor credit history.

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