Monopoly Money

In 1935, Americans were mired in the depths of the Great Depression. Gross domestic product had shrunk from $103.6 billion in 1929 to $73.3 billion. Unemployment stood at a horrendous 20.1%. Even the suicide rate was higher during those dark years. And on February 6th of that year, the Parker Brothers company started selling an …

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Batter Up!

Baseball is back! On April 2, the Tampa Bay Devil Rays spanked the visiting New York Yankees, 7-3, to kick off the 2017 season. Later that day, the defending World Series champion Chicago Cubbies fell to their usual last place in the National League Central. And Cincinnati Reds fans are still bitter that they don’t …

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I, Robot

For decades now, governments across the world have struggled with where to impose taxes to raise the revenue they need to offer modern services. Should they simply raise rates? Should they broaden the base by eliminating loopholes and deductions? Should they sock it to smokers, drinkers, or other disfavored groups? How about entirely new levies …

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Monkey Business

In Roman mythology, the hero Hercules used his divine strength to smash through the mountain that used to be Atlas. This created the Straits of Gibraltar, linked the Atlantic and the Mediterranean, and forged the famed Rock of Gibraltar. The so-called “rock” is an enormous limestone monolith, rising 1,398 feet nearly straight up from the …

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Names!

Every year, the IRS gives us a peek inside the wallets of the highest-earning 400 Americans. It’s full of juicy facts like their average income ($318 million in 2014), how much they give to charity ($37 million each) and how much they pay Uncle Sam ($73.5 million). But there’s one set of facts the IRS guards as …

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Better Call Saul!

Upcoming Important Deadlines-    March 15th:        – Corporate Tax Returns Due – Due date of 2016 income tax returns for calendar year S-Corporations (Form 1120S). An automatic six-month extension may be obtained.       – Partnership Tax Returns Due – Due date for 2016 income tax returns for Limited Liability Companies (2 member or more …

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