• Tweet ^[1]
• Email ^[2]

• Tweet ^[1]
• Email ^[2]

This week’s hodgepodge of links range from a primer on how to read financial statements to discussion of severance and overtime to U-Haul getting the smackdown in California. Should make for some entertaining weekend reading!

Looking for a good primer on how to read financial statements? Why not check out the folks who analyze the stuff everyday, the SEC? The Security and Exchange Committee has a really easy to read beginners guide to financial statements ^[3] that will more than adequately acclimate you to how to analyze a financial statement of a company. (Courtesy of Jeremy ^[4]!)

All this talk of recession has probably gotten a lot of people spooked and I was doubly surprised to discover that there is no federal law requiring severance pay ^[5]! It is more a custom than it is a requirement, which makes sense if your company has let you go because it’s facing a tight financial situation. I suppose I always assumed a severance package was standard. (Oh, and it’s legal for your company to require overtime ^[6] from you, but they have to pay)

One of the most commented posts I have is my horror story about U-Haul and how I hate U-Haul ^[7]; so, I was delightfully surprised to hear that U-Haul has settled a class action lawsuit ^[8] in California that would result in them paying $50 every time they didn’t honor a reservation. Despite this new agreement, I still wouldn’t rent from U-Haul since that $50 doesn’t guarantee that you won’t be driving a death trap capable of breaking down going 60 mph on the highway.

An issue that has come up a bunch of times, especially now with tax season looming, is whether or not credit card rebates are taxable ^[9]. I’ve always thought that they aren’t so this is good confirmation from a third party.

I just got this great email from a publicist that sent me a copy of J.K.Lasser’s Your Income Tax 2008 ^[10] and it involves what casinos report to the IRS (I’m a fan of the casino, in moderation, so this was entertaining to read):

• Slot machines and bingo: Payouts of $1,200 or more are reported to the IRS, but there is no withholding taken out.
• Keno: Similar to slot machines, but the amount won must be at least $1,500.
• State lotteries and sweepstakes: Withholding is taken out of all winnings of more than $5,000.
• Parimutuel pools, including horse and dog races: Subject to withholding, but only if the winnings are both more than $5,000 and at least 300 times as large as the amount bet.
• Big winners are reported to the IRS on a special Form W-2G.
• If winnings are to be split, as with a lottery pool, winners are reported on a Form 5754.

Finally, I leave you with this great little exchange between Mrs. Raising4Boys and their three year old tyke ^[11]. (I don’t want to ruin it, so click through and read it; I guarantee at least half of you won’t be disappointed)