The enterprise point of view of settlement system fees

In the next few months, congressional legislation is set to lower debit and charge card interchange fees to 12 cents per transaction. Some legislators are hoping to block this rule from going into effect. For small business owners, this legislation wouldn’t improve competitiveness. Instead, these fee limits are what could keep small businesses competitive. Source of article – A small business perspective on payment systems by MoneyBlogNewz.

Charge card fees just to have it

There are card interchange fees. These are any fees using a credit or debit card requires. Otherwise known as “swipe fees,” these fees range between 12 cents and 75 cents and are charged every time a card is swiped. On top of the "interchange fee," a percentage of the transaction is charged. The business that provides the card machine, the financial institution doing the transaction and the card processor are all the things the interchange and percentage fees pay. A lot of money builds up with the fees. It added up to $50 billion in 2010. The U.S. interchange fees are twice and much as Europe's interchanges fees. To be able to stop interchange fees, congress may try to push legislation forward say it would stop competitiveness amongst U.S. businesses.

Business changes based on interchange fees

Taking credit cards can hurt an enterprise. Still, the small businesses have to make the decision on whether or not to take it. Accepting credit cards means paying a fee and a percentage on every credit card transaction, plus most credit card processors charge a monthly fee, so the costs are high. For a small business that runs on tight margins, it’s even worse. Even with accessible alternatives that reduce cost, any small business could have to eventually pass on the cost to consumers through minimum purchases, higher prices or additional charges on card payments. Consumers will make bigger purchases when you will find credit cards while more people are willing to use your shop.

How I work

I own a small business with my husband. We offer many services at the business. We never even considered not taking credit cards knowing it was necessary. Our company doesn't make too much money while we don't even have a physical location. The $20 to $100 monthly fee doesn't make any sense to pay. A flat percentage of transactions are charged with Square where we run our credit cards. It does this through a smartphone. Sales are only at $300 a month. We only pay about $8 in charge card fees each month. The amount to pay suppliers on top of the $30 business taxes and $26 sales tax means less of a profit. We could hire employees and charge consumers less if there were less interchange fees on credit cards. Businesses can go from "surviving" to "competitive" with a decrease in the small percentage points of interchange fees.

Articles cited

Market Watch

marketwatch.com/story/visa-mastercard-rise-on-swipe-fee-regulation-pact-2010-06-21

Watch out for financial debt collectors pursuing charge-offs

Maintaining good credit can be challenging, particularly after a life-altering event like job loss. Even if a creditor charges off one of your accounts as bad debt, that doesn’t mean you’re safe. You might still have to account for the bad debt in collections – even after the record drops from your credit history. Post resource – Beware phantom debt pains from charge-offs by MoneyBlogNewz.

Only seven years of charge off

You will find many credit rating charge-off scenarios. Consider this one. Bankrate states that there are different rules for collecting financial debt and reporting debt which means it might be off your credit rating but might nevertheless belong to you. The Fair Debt Collection Practices Act (FDCPA) provides the guidelines for financial debt collection, while the Fair Credit Reporting Act (FCRA) holds jurisdiction over how a charge-off is reported.

On the plus side, the FCRA mandates that a charge-off must be removed from your credit score after 7 years. That includes whatever financial debt collection agency owned the financial debt. You are able to look at your credit report pretty easily. Just do it a month after the charge-off was intended to occur. The bad debt should be gone. If it is not, Equifax, Experian and TransUnion are the places you are able to dispute it.

Student loans, tax liens and Chapter 7 bankruptcies can’t be charged off.

Charge-offs: The dark side

FCRA rules help individuals out a bit. It keeps bad credit from staying on a credit history forever. The FDCPA doesn't have the exact same rules though. Financial debt collectors can still bother you for money. A market is there to purchase bad debt though. Consumers needing debt repair are concerned about this. At least once, an agency will make an effort to collect from you. A charge-off will not happen until then.

Can a consumer escape from that bad credit card debt amassed during a span of joblessness? The statue of limitations is there for a reason though. This means consumers can get away from this credit card problem. The state and court system will determine how long this time period is although it is generally 6 to 10 years for installment loans, auto loans and payday loans and 4 to 6 years for charge cards. Your state's attorney general can be accessed. This is where you should go for more information.

Debt collection law

Legally, a debt that has passed the statue of limitations cannot be pursued anymore. That means nobody can come asking for your money. You can do a counter-suit if a debt collector continues.

Counter suits aren't cheap though. You’ve to have time, a lawyer and money to pay for it all. The best way to get out from under a financial debt collector that is pursuing your debt in a legal fashion is to either pay what you owe in full or come to a settlement.

Information from

Bank Rate

bankrate.com/finance/debt/debt-dropped-from-credit-report-still-owed.aspx

Equifax

ai.equifax.com/CreditInvestigation/

Experian

experian.com/consumer/cac/InvalidateSession.do?code=DISPUTE

Trans Union

annualcreditreport.transunion.com/entry/disputeonline

How to deal with collections

youtube.com/watch?v=9SVFdH0Ayco

Android supplying more smartphones than RIM

Research in Motion has fallen behind Android in product sales numbers for smartphones, as the Blackberry line is falling in popularity. Google and the uber-popular Android OS have taken over the sector, and less than 2 years after the first Android was released, Android cell phones are outselling Microsoft, Apple, and Research in Motion goods. It does not seem likely the competition will catch up. Far more than 170 devices have an Android OS.

Blackberry Manages to lose some juice amongst customers

When it came to smartphones, Blackberry cell phones were at the top of the list for Research in Motion. CNN reports that the company isn't at the top anymore though. With over 31 percent of sales, the Google Android platform has beat RIM sales while steadily beating out all competition. The first phone using the Android operating system was the HTC G1, which was released in November 2009 and carried exclusively by T-Mobile. In early 2010, Android had only a 7 percent share of the smartphone sector, however the platform has loved constant growth since its introduction. An Android OS is now the base of more than 170 types of phones and tablet computers across numerous carriers.

It’s hard for old mobile phones to make it

Of the four popular smartphone platforms in the United States, the only one that has constantly grown market share is Android. Between Feb. 2010 and January 2011, Research and Motion's smartphone product sales have gone down with Research in Motion from 42 percent of the industry share to 30.4 percent. Windows phones have been continuously on the decline, and now make up less than 10 percent of the smartphone industry. Apply has stayed pretty constant in its smartphone share with the iPhone. Every day, about 350,000 new Android cell phones are activated. A larger share of the sector was held by Symbian OS from Nokia than form Android until late 2010. This was when the Android product sales came up and Symbian OS product sales went down.

Android Nokia phone probably will not happen

Just about every phone company makes an Android phone, as Google licenses it for free, and adapting it’s fairly easy for any developer, but Nokia isn’t having it, according to the Los Angeles Times. Nokia and Microsoft have a relationship now. It seems that Windows Mobile on Nokia phones will become the normal thing. To be able to get the right to put Windows Phone 7 on Nokia devices, Microsoft is paying $1 billion to Nokia. Both corporations could benefit from the deal.

Information from

CNN

money.cnn.com/2011/03/07/technology/android/index.htm

Los Angeles Times

latimesblogs.latimes.com/technology/2011/03/Microsoft-reportedly-paying-nokia-more-than-1-billion-to-use-windows-phone-os.html

A directory of several typically overlooked tax write-offs

The U.S. tax code is written to hide many tax deductions you might qualify for. Without realizing it, millions in the U.S. overpay taxes because they unwittingly overlook tax write-offs. It doesn’t take an accounting degree to find several tax deductions that may otherwise go unused.

Government losses from tax deductions

The government gets about $1 trillion less tax dollars yearly because of the 46 million U.S. taxpayers that itemize their tax deductions instead of taking the standard deduction. About 85 million working class individuals use standard write-offs to protect another $700 billion. Choosing the standard tax deduction means many individuals are missing out on free cash. Several could pay fewer taxes annually if they were to itemize. Even those who take advantage of tax write-offs for instance interest paid on mortgages and student loans, real estate property taxes and state sales taxes could possibly be giving the government additional money.

Job expenditures in tax deductions

Many people do not realize there’s a tax break for any expenditures caused when looking for a job. The United States job market has been terrible lately meaning many individuals are missing this tax break. For job hunters with total itemized write-offs greater than 2 percent of adjusted gross income, job hunting expenditures can be deducted. This is only allowed if the job search is in the same industry as the previous job. Job hunting expenditures can't be deducted when it is for a first time job. However, any moving expenses, including 14.5 cents per mile, could be deducted as long as the person is moving over 50 miles for the job. For taxpayers going back to school to change careers, $2,500 of college tuition can be claimed as a tax credit. When getting a tax deduction, the amount of taxable income goes down. A tax credit lowers the amount paid in taxes. Single taxpayers making $80,000 or less or married couples making $160,000 or less is eligible for the tu! ition tax credit.

More write-offs not to forget

Working class individuals often overlook tax write-offs related to home and family. As more Americans take care of their elderly parents, they become eligible for a substantial tax deduction. A dependent parent deduction is given to everyone that provides over half of the financial support to their parents while paying more than 7.5 percent of adjusted gross income on this person. There have been lots of United States automaker incentives for purchasing a new automobile. In 2010, purchasing a new automobile means you can deduct the sales tax, even if you are not doing an itemized deduction, as long as you made under $135,000. Green energy tax credits worth up to $1,500 are available for working class individuals who invested in energy-efficient home improvements. There was also another tax credit not to forget. This was the Making Work Pay tax credit. The 2010 tax year is the last chance to take advantage of the Making Work Pay tax credit. You will find some employers t! hat take care of this tax credit for employees. Nevertheless, a single person can take $400 off the bill and a married couple can take off $800 if they turn in their 1040 form with a Schedule M.

Articles cited

MSN Money

articles.moneycentral.msn.com/Taxes/CutYourTaxes/the-19-most-overlooked-tax-deductions.aspx?page=2

U.S. News and World Report

news.yahoo.com/s/usnews/20110217/ts_usnews/10hiddentaxdeductionsexposed

ABC News

abcnews.go.com/Business/irs-taxes-2010-tax-credits-deductions-save-money/story?id=12908788&page=2

Nationwide fuel price increases with possible power crisis on horizon

The national average gas price is all however certain to hit $4 a gallon by summer. Unrest in Libya, a serious oil exporting country, has brought on the price of petroleum to rise, which is creating the cost of gasoline to rise as well. The oil reserves held by the America government might be utilized by the Obama administration should the sector prove inept at curbing rampant panic. Resource for this article – Gas price rises nationwide fueling speculation of energy crisis by MoneyBlogNewz.

Government considering use of emergency reserves

Continuing turmoil in Libya brought oil exports in that country to a standstill, leading to a spike in oil costs. CNN stated that on Monday, March 7, the typical gas prices were at $3.51 a gallon which might get to $4 a gallon by summer time. Prices have been increasing daily for the past two weeks, increasing by 34 cents over that time. Keeping these costs down is a goal that the Obama administration has, reports Reuters. The government as considered tapping into the U.S. Strategic Petroleum Reserve to stop the costs from continuing upward. About 730 million barrels of crude oil are found in the Reserve which is equal to a month of U.S. oil supply. All officials in the administration suggest this will not occur unless it’s absolutely necessary. The reserves won't be used anytime soon. The last release from the reserves was in 2005, after the Hurricane Katrina catastrophe, and it has only been used three times since it was established during the Nixon administra! tion.

Increase in costs

The Libya unrest caused many to be worried about the world oil industry. The supply has not dropped at all though. Libya produces less than 2 million barrels per day, and exports little oil to the United States. Over 12 million a day is produced in Saudi Arabia. The Department of Energy made this comparison. A 25 % increase in oil production was changed in Saudi; this more than makes up for Libya losses. The rise of fuel costs isn’t due to a shortage in supply; rather, markets are uneasy because political turmoil is spreading to other oil exporting nations. A revolt in Libya isn’t catastrophic in terms of world oil exports, but revolts in Saudi Arabia would be.

Gasbuddy can help

The website Gasbuddy.com will help people find the cheapest gasoline in their area. Several websites are used for individuals to report fuel prices. Gasbuddy puts all these together. The Gasbuddy network extends from coast to coast, so there are few places in the United States or Canada that do not have some information posted. There’s even a Gasbuddy app available for iPhone, Android and Windows smartphones. Since Gasbuddy relies on people reporting the gasoline costs they see, the site is fast becoming a resource that is quoted by major news agencies also as a valuable tool for customers.

Citations

CNN

money.cnn.com/2011/03/07/news/economy/gas_prices/

Reuters

reuters.com/article/2011/03/07/us-usa-oil-idUSTRE7252X520110307?pageNumber=1

Department of Energy

eia.doe.gov/cabs/newint.html

Gasbuddy

gasbuddy.com/

Two and a Half Men season ended after Sheen stereo rant

A Sheen rant during a radio interview has cost him his job. The Jones Show showcased Sheen as an interview guest, and Sheen went on the offensive against his employer, Chuck Lorre. The show "Two and a Half Men" was ended for the remainder of the season, as the studios that produce it are not amused.

Season canceled for popular sitcom due to unhinged star

Sitcom "Two and a Half Men" is going to be stopped by CBS due to Charlie Sheen and his behavior. The Los Angeles Times states that t here was a phone interview on the Jones radio show where Charlie Sheen started a rant where "Two and a Half Men" executive producer Chuck Lorre was put down. Within hrs, a joint statement was issued by CBS and Warner Brothers TV the studios were canceling the rest of the season and putting the show on indefinite hiatus.

Employer is someone Sheen ‘violently hates’

During the interview on the Jones Show, Sheen made clear his feelings for Chuck Lorre, the executive producer and one of the writers for the sitcom. He kept calling Lorre "Chaim Levine." The insults just kept coming. Charles Levine was Lore's born name. The Guardian states that Sheen "Violently hates" Lorre. Sheen told TMZ that Lorre is "a turd," a "charlatan," and a "stupid little man.". For every episode of “Two and a Half Men," Sheen makes about $2 million. There have been other times where the show was postponed. Sheen's drug and alcohol use causes these stops to occur.

Sheen does not have to go to AA

The Telegraph reports that Charlie Sheen explained on the Alex Jones Show that he was “shackled and oppressed by the cult of Alcoholics Anonymous for 22 years” and “news flash, I’m special,” talking bad about Alcoholics Anonymous. Sheen refuses to admit he has a problem, even after being hospitalized after a whole weekend of cocaine and heavy drinking. He said, “I just cured it with my mind.”

Citations

Los Angeles Times

latimes.com/entertainment/news/TV/la-et-charlie-sheen-shut-down-20110225,0,1034763.story

The Guardian

guardian.co.uk/culture/2011/feb/25/charlie-sheen-show-cancelled?intcmp=239

The Telegraph

blogs.telegraph.co.uk/news/andrewmcfbrown/100077703/charlie-sheens-furious-anti-AA-rant-what-set-it-off/

Canada utilized Agent Orange into the 1980s

Following a Toronto Star study, Canadian officials have acknowledged the country used the infamous chemical herbicide Agent Orange to eliminate roadside brush from the 1950s to the 1980s. The herbicide Agent Orange is infamous as a chemical warfare agent that was utilized by the United States military throughout the Vietnam War. Numerous scientific researches have shown Agent Orange to be a cause of genetic defects upon people situated in the areas sprayed.

The dangerous tale of Agent Orange

During the code-named Operation Ranch Hand, the U.S. military put millions of gallons of Agent Orange, which is a chemical mixture of 2 phynoxyl herbicides in iso-octyl ester form, on timber and vegetation that Vietcong enemy forces were in which the United States Department of Veterans Affairs explains.

The Agent Orange that was sprayed ended up really getting some of the U.S. veterans while those exposed ended up getting many different forms of cancer, nerve, digestive, skin and respiratory disorders. The Red Cross in Vietnam claims that 3 million in Vietnam were impacted by this with birth defects and genetic disorders. At least 150,000 kids were impacted too. Many other kids were stillborn as a result of parental exposure to Agent Orange.

Star claims it hit forestry employee while there

In Canada, there was a Toronto Star Agent Orange study that was done. It discovered that World War II planes with herbicide in them were dumped on shrubs that needed to be cleared along with timber. Forest employees were uncovered, and the Star investigation indicates that it caused increased instances of cancer, birth defects and tainted food and water. Before research on the chemical agent was done, Agent Orange was utilized in Canada for plant removal in the 1950s.

BBC News states that a government study into Agent Orange use in the nation will begin according to Canadian Provincial Transportation Minister Kathleen Wynne.

"I don’t have the specific information on how much of it was used by the ministry of transportation, but the independent panel will look at that and we’ll work closely with them," Wynne told Canadian media.

Articles cited

BBC

bbc.co.uk/news/world-us-canada-12573599

The Star

thestar.com/news/canada/article/940243–star-exclusive-agent-orange-soaked-ontario-teens

U.S. Department of Veterans' Affairs

publichealth.va.gov/exposures/agentorange/

Agent Orange: Death to Weeds

youtube.com/watch?v=2EaqwRtjVEM

Secrets of meals for large families can help reduce food expenses

Feeding several people is costly. For large households, it can feel especially difficult. Large households, however, know tips that even small households can use to reduce down on the price of food. Try these tips of cutting out your costs and you’ll be saving yourself money. Source of article – Secrets of dishes for big families can help cut food costs by MoneyBlogNewz.

Basic information on meals for large households

The fundamentals of cooking for a large family or to reduce your food costs start with understanding storage. Food waste is reduced while making sure food does not go bad. This could be done by using ingredients in many different ways. Increasing the amount of non-meat protein also helps reduce down cost; mixed correctly, this can actually help the food be more filling. Make an effort to make meals that could be frozen and re-heated easily. This will allow you to take advantage of sales and cut down preparation time.

All that should be involved in big family dishes

There are a few things to consider making dishes that can be frozen or used with a large family. In several meals, you might like to add vegetables. Give some flavor with onion, garlic and celery. Grains, for instance rice, barley, wheat kernels, pasta and quinoa are inexpensive and provide “filler” for the meal. You will want a complete protein such as meat. If you don't have meat, you are able to add legumes, for example beans and lentils, to the grain to do this. A sauce just needs to be added to these things. It will make an excellent meal that is healthy too.

Putting large family dishes together

Now you know what large family meals ought to contain. Learning how to combine them is the tricky part. Want to try some soup? You are able to start by sautéing in butter or olive oil some vegetables such as onions, carrots, celery and garlic. Combine with legumes or meat and broth and simmer for a few hours. For a stroganoff, blend one onion, a tablespoon of garlic and a few ounces of mushrooms with a few ounces of meat strips. Add flour, sour cream, spices and broth to it. Serve it over some cooked pasta or rice. Combining these ingredients could even be as simple as steaming vegetables, cooking meat and adding grains or legumes. One great and cheap meal could be made simply by combining the four elements of vegetables, grains protein and sauce.