Cash

Dear Liz: Help! We've just received devastating news from our accountant that we owe around $11,000 to the IRS and the state for 2012 taxes. The reason for the huge bill is that we cleaned out my husband's IRA to pay for our son's college expenses. My husband is almost 65 and working part time after being laid off, and I'm 61 with a full-time job. What is the best way to pay this bill? Here are the options I can think of: 1) Cash out my three-month emergency certificate of deposit of $12,000 that I've saved to cover expenses in case I get laid off. 2)

WASHINGTON - After a hiatus from the campaign trail, President Obama will travel to California next month to start reaping cash for Democratic congressional candidates. Obama is due to attend two days of fund-raisers in the Bay Area in early April to benefit House and Senate candidates, according to Democratic officials and an invitation. The details of Obama's trip come at a somewhat awkward time for the president, who spent much of the week meeting with Republican lawmakers at the Capitol where he aimed to persuade them that he is focusing on legislating, not winning races.

The two candidates who earned a spot in the runoff to be Los Angeles' next mayor have little time to savor their victory. Wendy Greuel and Eric Garcetti must immediately start raising money , because unlike in state and federal elections, they were prohibited for raising money for the general election during the primary. And they weren't allowed to reserve any of the millions of dollars they raised in the primary for the runoff, meaning the candidates started raising new funds within hours of the polls closing Tuesday.

News Corp.'s soon-to-be publishing company will begin life with no debt and about $2.6 billion in cash -- illustrating the parent company's attempt to provide the new entity with solid financials and money for acquisitions. The new company, which will carry the News Corp. name when it is inaugurated this summer, will include the Wall Street Journal, Barron's, the New York Post, the Times of London, HarperCollins book publishing and an educational materials division called Amplify.

What's a pound of flesh worth? Dieters at the Mayo Clinic in Minnesota apparently think it's worth at least five bucks. A yearlong study of incentives in dieting found that the majority of 100 obese participants met a goal of losing four pounds per month for a $20 reward -- even at the risk of losing the same amount if they failed. The study, to be presented this weekend at the American College of Cardiology meeting in San Francisco, found that 62% of those in the incentive program completed the full yearlong study, and averaged a nine-pound weight loss.

WASHINGTON - The nonprofit advocacy group formed to bolster President Obama's agenda has reversed its decision to accept corporate donations and promised more transparency about its contributors after fielding a torrent of criticism about its fundraising structure. Jim Messina, chairman of Organizing for Action, announced the changes in an op-ed published Thursday on CNN.com . “There has been some confusion about what Organizing for Action is and is not,” he wrote.

In a novel twist on rewards programs, Bank of America Corp. is introducing a credit card that pays cash to borrowers who pay more than the minimum due each month. Card users would earn $25 a quarter and an additional $5 if they have a BofA bank account, meaning the bank would pay as much as $120 a year. Industry observers and consumer advocates said the product targets a very different customer than the usual candidates for rewards cards, who are higher-income borrowers with excellent credit who often pay their cards off in full every month.

Outside spending is dominating campaigns for three seats on the Los Angeles Board of Education, surpassing $4.4 million through Friday. The outcome of Tuesday's primary is expected to shape the path of improvement efforts in the nation's second-largest school system. The costliest race is in District 4, which spans the Westside and the western San Fernando Valley. There, one-term incumbent and former teacher Steve Zimmer faces parent and attorney Kate Anderson. The pro-Anderson and anti-Zimmer effort has spent more than $1.1 million.

KARLOVY VARY, Czech Republic - We had been collecting frequent-flier points for years. My husband, Keith, and I thought that, yes, of course, we would use them. We would fly around the world. Business class. Maybe next year. Queen Latifah shoved us out of our fantasy and onto the planes. It happened after we watched "Last Holiday" one more time. In it, Queen Latifah portrays a shy New Orleans department store clerk with a crush on fellow employee LL Cool J. Her dreams are confined to a scrapbook of "Possibilities.

1979-80 FINALS Lakers 4, Philadelphia 76ers 2 An old dog, a new trickster and birth of 'Showtime' "Showtime" began as 20-year-old rookie Magic Johnson inspired this talented team to first in the Pacific Division. After four close games in the Finals, Kareem Abdul-Jabbar, 33, turned in a 40-point performance in Game 5 despite spraining his ankle. With Abdul-Jabbar out, Johnson stepped up in Game 6 with 42 points and 15 rebounds. The Team: Kareem Abdul-Jabbar, Jamaal Wilkes, Magic Johnson, Norm Nixon, Jim Chones, Spencer Haywood, Michael Cooper, Mark Landsberger, Ron Boone, Kenny Carr, Don Ford, Brad Holland, Marty Byrnes, Ollie Mack, Butch Lee. The Coach: Jack McKinney/Paul Westhead Season record: 60-22 Playoff record: 12-4 :: 1981-82 FINALS Lakers 4, Philadelphia 76ers 2 A nascent dynasty finds renewed life with Riley The Lakers came into the season smarting from a surprising loss to Houston in the first round of the 1981 playoffs.