NEW YORK – Small business owners who compile their own income tax returns can find themselves falling into some common quicksand pits. The mistakes can be costly if they raise a company’s tax bill unnecessarily or subject it to penalties and interest in the future. Some of the problems are mechanical in nature, such as [...]

NEW YORK (Reuters) – Four top executives of Thornburg Mortgage (THMRQ.PK) improperly paid themselves handsome bonuses just before the mortgage lender filed for bankruptcy last year, and stole money and ideas from Thornburg to secretly launch a new firm, the bankruptcy trustee in charge of liquidating the lender alleged in a lawsuit. In an 82-page [...]

Warren Buffett described Berkshire Hathaway’s (NYSE: BRK-A – News; NYSE:BRK-B – News) acquisition of Burlington National Railroad as a long-term bet on the American economy. In his book The Next Hundred Million: America in 2050, author Joel Kotkin presents data that supports Buffett’s thesis, arguing that despite its current economic woes, the U.S. will remain [...]