Tag: business news usa

The world struggles to predict financial fallout from California bank collapse

As the millionaire depositors in Silicon Valley Bank got all their money back courtesy of a US government agency, there were no doubt sighs of relief among those bank customers who would otherwise have been taken a severe financial beating.

Until the US government swoops in Monday, that included the vast majority of deposits at SVB, which catered to Silicon Valley startups and venture capital firms. Deposits over $250,000 US are uninsured by the Federal Deposit Insurance Corporation or FDIC.

Even the conservative-leaning Wall Street Journal, harking back to the hundreds of billions of dollars handed out following the 2008

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Can Your EHR Template Land You in Prison?

If your electronic health record (EHR) template is set up incorrectly and leads you to be billed improperly, it could lead to prison time.

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In recent years, we have heard from many of our clients that their compliance plans received less attention than normal due to the pandemic, staffing issues, and other pressing concerns.

However, compliance enforcement is ongoing and it is essential to prioritize your compliance plan.

A Delaware

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Wells Fargo missing deposit glitch alarm customers. The bank said it was a ‘technical issue’

Photo taken in 2012 shows a Wells Fargo sign displayed on one of the bank's branches in New York City.

Photo taken in 2012 shows a Wells Fargo sign displayed on one of the bank’s branches in New York City.

Some Wells Fargo customers were met with missing transactions on their accounts Friday, according to the bank.

A statement on the company’s website warns that some users might find incorrect balances on their account, which “may be due to a technical issue.”

“Your accounts continue to be secure and we’re working quickly on a resolution,” Wells Fargo said in the statement.

In a statement, the company said the issue would be resolved by Saturday, and the bank would refund the

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What Happens When You Don’t Fund Your Trust?

After you work with your estate planning attorney to draft a carefully tailored estate plan, it is usually your responsibility to “fund” the trust.

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What does funding the trust mean?

Funding the trust is simply transferring assets into your trust.

If you have a trust, you will want to put your assets into the trust, by retitling bank accounts, re-designating beneficiaries of life insurance, etc. We walk our clients through

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Meta working on a decentralized social media app: Moneycontrol

Meta Platforms, the parent company of Facebook and Instagram, is exploring a decentralized text-based Twitter alternative, business news site Moneycontrol reported on Friday.

See related articles: Meta’s metaverse division Reality Labs posts wider loss of $13.7 billion in 2022

Fast facts

  • According to Meta documents reviewed by Moneycontrol, the decentralized social media app, coined P92, will allow users to log in using credentials from their Instagram accounts. The app is reportedly under development.

  • A report by Platformer claimed that Instagram head Adam Mosseri would oversee the project, with Meta’s legal department investigating early privacy concerns.

  • In a separate report, a

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What is the Cost of a Data Breach?

A recent study found that the total average cost of a healthcare breach is $10.10 million. Can your healthcare practice afford a breach?

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Can your healthcare practice afford a breach? Most healthcare entities cannot.

Since 2020, healthcare breach costs have risen by 42%.

As we know healthcare breaches are incessant, it is important to understand trends.

The trends that have emerged over the past few years are:

  1. Repeat attacks
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11 states tax Social Security benefits. Do you live in one?

Just because you paid a payroll tax during your working years to fund Social Security doesn’t mean you’re done once you retire.

Retirees may know that they will pay federal taxes on their social security benefits if their total income exceeds certain amounts. But few of them may realize that some states will also try to take a cut. Social Security benefits include monthly retirement, survivor and disability benefits.

The good news is fewer than a dozen states tax social security benefits, so chances are good you won’t get hit. While each state has different rules on what or how

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3 Things You Should Know About Irrevocable Trusts

A trust is an estate planning tool that allows a person to control their assets during their lifetime and make provisions for incapacity and death.

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One thing you should know about irrevocable trusts is that, unlike revocable or living trusts, irrevocable trusts cannot be changed or amended. They are set in stone.

A second thing that you should know about irrevocable trusts is that they have significant advantages, and

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