Although the overall individual audit rate is only about one in 119, the odds increase dramatically as your income goes up, as it might if you sell a valuable piece of property or get a big payout from a retirement plan. The IRS wants to be sure that owners of IRAs and participants in 401(k)s and other workplace retirement plans are properly taking and reporting required minimum distributions.
When it comes to investing, big isn't always better. Big companies with thousands of employees and operations all over the planet take a lot to adapt to economic and market changes. Take Exxon Mobil (XOM) as a prime example. With some 75,000 employees and bits and pieces on nearly every corner of the globe, lithe it isn't. And when it comes to the oil and gas market, complete with plenty of gushers and dry holes along with the recent yo-yoing of market prices, big doesn't cut it over smart. Exxon Mobil announced this week that it's doubling its holdings in an area called the Permian Basin in West Texas and New Mexico. The Permian Basin has long been one of the richest oil fields, handing many
One of the best ways to clear some of your head space may be to pay down credit card debt. With annual percentage rates (APRs) in excess of 15%, credit cards can cost you a big chunk of change in interest. Plus, high credit card balances can do big damage to your credit.