Panicked about those new form 1099-K (Merchant Card and Third Party Network Payments) requirements?
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So great, in fact, that U.K. Greeting card franchise Carlton cards asked her to come in and run their stores as well as her privately held and family company Papyrus.
Given the sorry state of American savings, it is not surprising that regulators, politicians and financial experts have been much more vocal than Bent, railing against his new 401(k) debit card invention.
The ear, nose and throat specialist completed his training in the U.K. and received a green card based on his professional expertise.
Like most debit card users, 401(k) investors have unwittingly exposed themselves to problems IRA investors will never encounter.
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K. Hammer, a credit-card consulting firm in Thousand Oaks, Calif.
Concerns over how best to report and reconcile items on the form 1099-K have plagued retailers and individuals alike since legislation was passed by Congress in 2008 requiring the issuance of forms 1099-K for third party merchant and credit card payment processing which meets certain criteria.
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Treating your 401(k) like it's a credit card can ultimately jeopardize your retirement.
Helping to drive sales but to temporarily depress profits was the acquisition out of bankruptcy of Clinton Cards, a U.K.-based chain of 400 retail card shops.
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The red card is the brainchild of the Vernon K. Krieble Foundation and is detailed here.
After all, they suggest, a 401(k) loan is better than a cash advance from a credit card that's charging 21% interest, and the interest payments are funneled right back into the 401(k).
And many families also keep a sizable amount of money in their savings account or continue to put money into their 401(k)s, while still carrying thousands of dollars in credit-card debt--even though dipping into savings and paying off their credit-card bills would guarantee them an immediate return on investment of 15% or 18%.
Indeed, each would have paid above-average interest rates by obtaining a peer-to-peer loan or credit card cash advance, as well as incurred possible tax penalties through 401(k) withdrawals.
So accurate are K-Tron's scales that sales reps like to step onto them, hand clients a business card and watch their faces while the difference in weight is registered.
What this means, basically, is that taxpayers who have a credit card merchant account, Paypal account or similar account and otherwise meet the criteria will receive form 1099-K from their service provider at the end of the year.
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