 An Illuminating Stress Test for Banks
Applying a hypothetical "doomsday" scenario of the Dow losing half of its value, joblessness at 13% and home prices at 1996 levels, the Federal Reserve put 19 major U.S. banks through its annual stress test last week and found that 15 passed:
American Express, Bank of America, Bank of New York Mellon, BB&T, CapitalOne, Fifth Third, Goldman Sachs, JP Morgan Chase, Keycorp, Morgan Stanley, PNC, Regions, State Street, U.S. Bancorp and Wells Fargo
Four lenders did not pass - the Fed concluded that Citigroup, SunTrust, Ally and MetLife would lose enough assets under the stress test scenario to pose systemic risk.
To read more follow this link.(1) |
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2012 Tax Changes & Reminders
Little details worth paying attention to as April approaches.
Every year, the IRS institutes big and little changes - and some don't get as much notice as they should. This year is no exception. Here is a rundown of some of alterations and asterisks affecting taxpayers this year.
First the good news.
You get two extra days to file. Procrastinators, take heart: once again, the federal filing deadline this year falls on Tuesday, April 17. That's because April 15 is a Sunday and April 16 is a holiday within the District of Columbia (Emancipation Day).
Don't forget Form 8949.
If you are reporting capital gains or losses for 2011, you must file this new form along with your return. Speaking of new paperwork, if you own foreign financial assets whose total value exceeds the applicable reporting threshold, you will need the new Form 8938. (2)
Be sure to report Roth rollovers.
Back in 2010, did you convert or roll over a traditional IRA to a Roth IRA or other Roth account? If you didn't report the amount of the rollover on your 2010 federal return, you can report half the amount on your 2011 return 2011 and the remaining half in 2012.(2)
(Read More Tax Changes)
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Citations:
1 - www.sfgate.com/cgi-bin/article.cgi f=/g/a/2012/03/16/investopedia77515.DTL [3/16/12]
2 - www.advisorone.com/2012/03/05/irs-top-12-tax-law-changes-for-2012 [3/5/12]
This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.
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 Registered Representatives. Securities offeredthrough Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representatives, Cambridge Investment Research Advsors, Inc. a Registered Investment Advisor. Cambridge and Symphony are not affiliated |
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March Economic Update
The first sixth of 2012 saw the best year-opening advance in some time for the major indices. The year-to-date numbers below represent the Dow's best start since 1998, the NASDAQ's best start since 2000 and the S&P's best start since 1991. (Read more.)
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Monthly Tip
If you are a caregiver, you recognize the role long term care insurance can play in funding the care of a loved one. If you are considering it for yourself, you should know that it is most affordable when you are in your fifties.
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