IRS Says Credit Card Sign-Up Bonuses are Taxable
January 31st, 2012
Before you begin cursing the IRS for trying to dig even deeper into your pockets, let me make it clear that the tax law hasn’t changed.
Traditional rewards earned by making purchases with credit cards are still considered tax-free. You can rack up as many points as possible on your purchases without worrying about a 1099-MISC for the value of the rewards mysteriously showing up in the mail. More »
Posted By: Joshua Heckathorn | Comments (0)Card.io – Scan and Charge Credit Cards on Your Smartphone
January 23rd, 2012
Leaps in technology generally don’t obliterate older methods overnight. As you might imagine, there are often transitional developments which help to act as bridges from one generation of technology to another.
We’re currently seeing this take place in the auto industry as we work to move away from fossil fuels and into something more sustainable. Likewise, we’re seeing a huge transition take place in the credit card industry. Soon, NFC chips will most likely replace our current standard wallets. But until that shift actually occurs, we’ll continue to see technologies like Square and Card.io become transitional players in the industry. More »
Posted By: Nathan Nead | Comments (1)Richard Cordray is In: Watch Out Payday Lenders!
January 5th, 2012
President Obama took the opportunity yesterday, while lawmakers were on recess, to appoint Richard Cordray as the Consumer Financial Protection Bureau’s (CFPB) first director. The move is sure to ruffle a lot of feathers among Republicans in Washington D.C., but apparently Obama was sick and tired of watching the CFPB sit on the sidelines making suggestions that no one was obligated to listen to.
They’ll be a lot of partisan bickering regarding Obama’s actions over the next few weeks, but I don’t think most Americans really care about that. The fact is Cordray is in, and he’s probably not going anywhere for awhile. More »
Posted By: Joshua Heckathorn | Comments (0)Americans Are Spending Smarter
December 16th, 2011
While economists tend to focus their attention on the latest stock market trends and fiscal policy, there are new consumer trends developing that hit much closer to home. For example, the decisions Americans have been making about how often they reach for their credit cards has changed dramatically over the past few years. Indeed, consumers have adopted new spending habits that speak volumes about the lasting impact of the economic recession.
Here’s a quick glance at an interesting trend we’ve noticed and what it might say about the rest of the economy as a whole. More »
Posted By: Elisabeth Chan | Comments (0)Bobber Users Gamification to Promote Saving
October 26th, 2011
A new Seattle-based company is using gamification via Facebook to help encourage young people to save and practice proper financial management skills.
The company, BobberInteractive, allows users to set goals, measure their progress and engage/interact with friends via a Facebook app that uses the social media site as a gaming and goal-sharing platform. The hope is that those using the social platform will use gaming to solidify and enhance their ability to save and invest. Sounds just like Farmville, right? Er…no. This game actually teaches something of value. More »
Posted By: Nathan Nead | Comments (0)
