Bank of America Reports First-quarter 2015 Net Income of $3.4 Billion, or $0.27 per Diluted Share

Dateline City: CHARLOTTE, N.C. Results Include $ 1.0 Billion ($ 0.06 per Share) in Annual Retirement-eligible Incentive Costs and $ 0.5 Billion ($ 0.03 per Share) in Charges to Revenue for Market-related Net Interest Income Adjustments Continued Business Momentum Period-end Deposit Balances Increased to Record $ 1.15 Trillion Originated $ 17 Billion in First-lien Residential Mortgage Loans Read more [...]

Personal income rises more than expected in February (DIA, SPX, SPY, QQQ, TLT)

Personal income rose more than expected in February while spending rose less than expected and consumer prices rose as expected.   Expectations were for income to rise 0.3% while spending was expected to increase 0.2%.  In January, income rose 0.3% while spending declined 0.2%.  This report also included the latest reading on PCE, a measure of inflation, with "core" PCE — which strips out the more volatile cost of food and gas — expected to show prices rose 1.3% over last year Read more [...]

Income Inequality Hurts Economic Growth

There’s a continuing debate as to the broader impact of income inequality. Some claim that while it hurts those who experience it, there’s not a wider effect. On the other side of the issue are the theories that with more concentration of wealth in fewer hands, there’s an impact on […]
Forbes – Personal Finance

The Top Ten Tax Cases (And Rulings) Of 2014: #4-IRS Rules on Self-Employment Income Of LLC Members

It's finally over. The October 15th tax deadline is behind us, which means for tax practitioners, our return filings are mercifully finished for the year. Unless of course, you chose to make your career in the not-for-profit world, in which case you deserve the extra month of misery. On October 16th, thousands of tax preparers [...] Forbes - Personal Finance Read more [...]

Bank of America Reports Third-quarter 2014 Net Income of $168 Million on Revenue of $21.4 Billion(A); Loss of $0.01 per Share After Preferred Dividends

Dateline City: CHARLOTTE, N.C. Results Include DoJ Settlement Costs of $ 5.3 Billion (Pretax) or $ 0.43 per Share (After Tax) Continued Business Momentum Four of Five Businesses Report Higher Net Income Compared to Year-ago Quarter Originated $ 14.9 Billion in Residential Home Loans and Home Equity Loans in Q3-14, Helping More Than 43,500 Homeowners Purchase a Home or Refinance a Mortgage More Read more [...]

Social Security Q&A: If My Income Is $40,000 per Year, Can I Still Receive a Retirement Benefit at 62?

Social Security may be your largest or one of your largest assets. How you manage it, by deciding which benefits to collect and when, can make an absolutely huge difference to your lifetime benefits. And those with the highest past covered earnings have the most to gain from maximizing their [...] Forbes - Personal Finance Read more [...]

Can Your Financial Advisors, Attorneys, Accountants, and Brokers Work Together to Build You a Unified Retirement Income Plan?

As you plan for retirement, you might find yourself with a whole army of advisors handling different aspects of your life, finances, and future. But are your attorneys, accountants, financial planners, investment brokers, money managers, insurance agents, and retirement advisors all on the same page when it comes to planning [...] Forbes - Personal Finance Read more [...]