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Author: Guest Editorial

How to Make $2 Million in One Interstate Drive – Money Morning

If you think you’re in the wrong line of work, and barely making ends meet, maybe what you should be doing is running cigarettes north along the I-95 corridor, from Virginia to New York.

No, seriously – because some enterprising individuals have a lucrative sideline doing just that.

The Bureau of Alcohol, Tobacco, and Firearms has even put an exact number on just how lucrative.

The ATF says smugglers could make $1,944,000 running just one truckload of cigarettes from a low-tax jurisdiction like Virginia to a high-tax jurisdiction like New York.

In Virginia, tax on a pack of smokes is just 30 cents, compared with a whopping $4.35 per pack in New York. New York City’s local tax is even higher, with $11 packs of Parliaments not at all uncommon.

Fully 24% of all cigarettes sold in Virginia are taken out of the Old Dominion to places with a less-favorable tax scheme.

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U.S. Housing Market: 5 Things Every Homebuyer Needs to Know Right Now – Money Morning

The U.S. housing market’s recovery is gaining momentum, but there are still a number of issues for homebuyers to be cautious of.

To get to the bottom of what’s really going on in the housing market, we talked to Gerri Willis, author of “Home Rich” and host of FOX Business Network‘s The Willis Report (6 p.m. weekdays), about the key things homebuyers need to know in today’s challenging market.

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