Month: October 2010

What is covered by FDIC insurance?

The Federal Deposit Insurance Corporation (FDIC) is an independent government agency and was created in 1933 during the Great Depression. Its purpose is to protect depositors in insured banks against the loss of their deposits if the bank fails. The current limit is $250,000 which was made permanent in the Dodd Frank Wall Street Reform… Read More

New Tax Provisions in the Small Business Jobs Act

On September 27, 2010, President Obama signed the Small Business Jobs Act. It is hoped that providing some tax relief to small business will spur growth and jobs will be created. Obama promised it will do “Two big things: It’s going to cut taxes, and its going to make more loans available.” Unfortunately, most of… Read More