Michael Sheehan

Articles by Michael Sheehan

Parents looking forward to overwhelming college tuition bills may be able to catch a break by doing research into some of the nation’s low- and no-tuition colleges.

Many older investors took big losses when the market hit bottom last March because 40% of investors between 56 and 65 had 70% of their 401(k) accounts in stocks. So how should seniors approach stocks?

Car buyers, dealers, and auto executives responded happily to cash-for-clunkers, but used-car prices have risen and charities have seen a big drop off in donations because of it.

Some Wall Street analysts say the market has recovered, while others say it's already arrived. The real question is, will recovery be V-shaped or W-shaped?

Stingy credit markets have opened the door for advance-fee loan scammers who prey on potential borrowers shut out of traditional markets by tighter lending standards.

Education and information are an investor's best weapons against securities fraud. Ponzi schemes, life settlements, and viaticals are favorites of con artists. Be aware.

Investors are projected to file 55% more complaints with brokerages in 2009 vs. 2008. If you do decide to proceed with a claim, understand that there are many hurdles to overcome.

If you're not eligible for cash for clunkers, you can still get in on the government rebate party. How? Make your home a little greener for federal and state tax rebates.

Can JetBlue's "All You Can Jet" deal will save you a lot of money? It may be a good deal for some, but make sure you understand any restrictions before you lay out your money.

Card issuers are not required to give card holders notice of a cancellation because of default or delinquency, but if they do it for other reasons, they have to notify the customer within 30 days of the cancellation.

After changes to federal estate tax rules, states wrote statutes with lower exemption amounts to make up for budget shortfalls. Estate planning should now focus on both to avoid or lessen tax hits.

Tightening the belt in tough times can hurt. Ease the pain by spending smarter to save. Avoiding out-of-network ATMs, carrying traveler's checks, and paying off credit card balances in full each month can go a long way.

During the real estate market free-fall, sellers were offering creative incentives—Rolls-Royce Silver Shadow anyone?—to win over skittish buyers. Though that may no longer be common practice, if a seller is offering incentives, make sure they are included in the purchase price.

A $2 billion infusion to the expiring Cash for Clunkers program comes at a time when manufacturers are offering major additional rebates. Lost in the media blitz, however, is a signifigant tax break for new-car buyers that lasts until the end of the year.

Buyers who flocked to long-term US Treasuries during the credit crisis' worst days are now being doused with red ink amid a rosier economic outlook. Even municipal bonds are looking shaky these days. So what's a bond investor to do?

Two tax breaks set to expire on December 31 can be a big help to medical practices. One allows for direct expensing of up to $250,000 in purchases, while through the other you can depreciate up to 50% of the cost of new equipment.

While several federal agencies investigate problems with imported drywall, homeowners are in a bind. It's either move out and attempt to sell a home with a major problem, or risk health problems by staying. More bad news: homeowners insurance generally won’t cover drywall replacement costs (an estimated $100,000 price tag).

From now until the end of 2013, the FDIC will insure bank deposits for up to $250,000 per depositor; after that, the limit reverts to $100,000. Opening up accounts at several different banks can also bypass the coverage cap, but you’ll have to deal with multiple 1099s come tax time. An easier way to stretch your FDIC coverage is an informal trust arrangement known as a “payable on death” or POD account.

A loop hole in President Obama's credit card reform bill ties your card rate to overall interest rates, and doesn’t require companies to give you 45 days notice of changes. This is a bonanza for card companies, but a pain in the wallet for card holders.

What to think of the 50% rally on Wall Street from the lows of March? Doom merchants are doubting the rally's strength and predicting a return to market lows or worse. James Paulson of Wells Capital Management, on the other hand, believes the bears don't realize that the bulls are back in charge.