U.S. Government’s FCPA Probe of Weatherford Expands
The federal government’s probe into Weatherford International’s dealings in foreign countries has burgeoned far beyond a simple bribe inquiry. It has become a multi-agency civil and criminal investigation into allegations that Weatherford, one of the world’s largest oilfield service companies, did business with terrorist-friendly countries that are under U.S. trade sanctions. And in an unusual …

tax and investment advice?

I own a tree nursery, and my entire farm of trees was wiped out due to a late frost. I am receiving an insurance settlement for these trees in the amount of $300,000. Is this money taxable income? If it is taxable income, what can I do to reduce the tax effects (annuity, ira, etc). Please help

Assuming it’s reimbursement for your tree loss, it isn’t taxable. If some is reimbursement for lost income that part could be though.

How much tax will I have to pay on a debt settlement?

Hello..I have just settled a 10K bill for $2200 with Citicards..I know amazing huh…does anyone know how much in Taxes I will have to pay at the end of the year?Thanks

Dear Cali: If you are given a 1099-C for this debt forgiveness ($7800) you will add the $7800 to your income. If you are in the 10% bracket it will run you $780.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent.