welcome to "on the money" i'm becky quick. it's a bird, it's a plane. no, it's a drone. are they a danger in the sky? what do they mean if you fly? speaking of buzz, the new way to drink alcohol, add water to powder, what could possibly go wrong? can social media come to the rescue of old school businesses? neighborhood institutions trying to fight rising rents. >> i have a thriving business here. >> and the dreaded time of the year again, tax season. should you do it yourself? should you hire someone and what to look for if you do. "on the money" starts right now. >> this is "on the money," your money, your life, your future. now becky quick. >> here is a look at what is

making news as we head into a new week "on the money." if you are wondering when the federal reserve may raise interest rates you can wait longer. at a meeting this week the fed and chair janet yellen cleared the path for the hike by removing a key phrase. in the past the fed said it would be patient before making moves but that word was eliminated. no change in interest rates this month. most watchers think the earliest we see an increase is in september. dow rising more than 200 points after the meeting. the s&p 500 up strongly. by early friday trading the nasdaq was above 5,000 once again. the market climbed more later in the day. the dow jones industrial average has a new member. apple joined the club this week. the world's most valuable company replacing at&t. target is joining a growing number of big retailers increasing wages for workers. starting next month all target employees will make at least $9 an hour.

the company joins wal-mart and tj max in increasing pay, a sign of the economy getting stronger as more jobs are available for low wage workers. you may have seen them and probably heard about them but are they safe? we are talking about drones. concerns are growing but this week the faa did grant amazon.com permission to begin testing drones for package delivery. i recently spoke to former faa administrator about other proposed rules. you had the top job at the faa for five years. what is euro take on the proposed rules? >> i will tell you, i have been out of the faa for a while. looking at it from industry standpoint we got a little impatient on this. we were keen to see the faa issue a rule about how small can operate in our skies. they did a very good job. it took a while but safety is

paramount in terms of considerations of this rule. actually all of us on the industry side think they did a very good job, maybe a few small tweaks but they got it pretty much right. >> commercial pilot groups have been voicing concerns about sharing air space with drones and maybe the danger of collisions that come in there. how does this set of regulations, how do the proposed rules do when it comes to addressing safety issue snz. >> they very much keep them apart from commercial aircraft and regularly scheduled flights. the small uas under 55 pounds flying no more than 100 miles per hour have to stay below 500 feet and the operators of them have to keep them in line of sight in day light. those kinds ods ostrictions and away from commercial airports we don't think that commercial pilots have a real concern. >> just as a member of the media i have seen a lot of the stories reported about one drone that

fell out of the sky and crashed on a woman running in a marathon and hurt her pretty badly. is this something we want to make sure we address more properly? >> i think it is one of the things we have to learn from these kinds of freak accidents when they happen and certainly we have to take precautions. one of the reasons we are so glad that the faa has gone ahead with the rule making and set the requirements for everyone is that otherwise you get a lot of cowboys out there. you have a lot of people who think they know what they are doing and they are operating without rules. so at this point it is over the christmas holidays we saw that hundreds of thousands of these were sold for people's recreational use. these are people who have to be educated and the faa is stepping up to make sure they know what they are doing if they put a uas in the sky. >> we should also talk about amazon and google both announced they are working on using small drones for package delivery.

the new rules do not allow small drones to fly over people. is the caution threatening innovation? >> i know amazon and google are impatient right now. i would love to call up and get my prescription delivered to my door and new book i wanted. the great ideas that are out there right now and all of the bad weather we have been having think about having a uas that can go on top of your roof to see if there is damage and keep the roofing company from having to put people in harm's way. there is a lot good that can happen. i think we are going to see it progress pretty rapidly. obviously the innovation is out there. people see what it can do i think will move quickly. >> what are some of the most exciting innovations you have seen proposed? >> some of the most important are in areas like fire fighting,

monitoring storms brewing. the potential for large uas to fight floors with the ability to do water drops or think about to have a large uas that can start when hurricanes start in the ocean and follow it across the country and use real time monitoring. these are important and exciting prospects. >> you are about to begin a new job with rolls royce. those engines are used in military drones. what do you see in the future there for military drones? >> military drones are very important. we have seen that in the wars of iraq and afghanistan. they have done an amazing job of keeping our soldiers out of harm's way or less in harm's way than they would be. one of the things we are eager to see move forward is the u.s. government's willingness to let us export drones, uas because we have the best technology. all around the world a lot of

other countries are trying to get in the game. right now we are very restricted from even exporting it to our partners. and partner nations. once we fight shoulder to shoulder with should be able to get this because it will mean that we have uas systems out there working together. >> i guess a concern is we change who we think our partners are from time to time. >> foreign policy of this can get complicated. you are absolutely right. at the same time, however, we want it to be american technology advancing competitively or do we want other countries providing that technology and we're standing on the sidelines? >> i want to thank you for your time today and for your very complete perspective on all of this. we appreciate it. >> glad to be here. thank you. up next, is it a fun time or an accident waiting to happen? creating of palcohol explains.

how a spoelsh media movement is trying to save old school businesses from rising rents. take a look at how the stock market ended the week.

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the house thought she let the family down. but the family just didn't think a flood could ever happen. the reality is, floods do happen. protect what matters. call the number on your screen or visit the website to learn more. mixed drinks are about to take on a whole new meaning. alcohol in a powder form is expected to hit shelves as early as this summer. some states are considering banning it because of potential abuses things like spiking drinks with it or teenager getting ahold of it. palcohol's creator joins us now.

what is palcohol and why would people want it? >> palcohol is powdered alcohol. it has so many innovative uses across so many different industries. in medicine, in the military, in aviation, in manufacturing, in commercial uses cht so it's a revolutionary new product that can solve a lot of problems, save a lot of weight in chipping and reduce the carbon foot print. >> you came up with this idea because you are an avid backpacker? >> i was looking for a way to carry alcohol without carrying the liquid which is heavy. >> i get that and i have thought that through and thought about camping and thought maybe that is the one place i would be interested but you have to have liquid to mix it with so unless you are mixing with river water you mix liquid. >> you are carrying water which you would use to stay hydrated versus carrying extra liquid, liquid alcohol only good for

drinking. you are using the liquid you have for hydration. you are still carrying the liquid but it is liquid that can be used for several things. >> there are a few states, south carolina and louisiana that have banned it having safety concerns that people could snort it or sneak it into venues. what do you say to those critics? >> it's unfortunate that people misuse and abuse alcohol. what do we do about that? one thing we don't do, we don't ban it because we learned that prohibition doesn't work. it was a colossal failure. when you ban something you lose all control over distribution. a mother asked me last week, she said to me that she is against my product and wants to ban it. i asked her, what can your daughter buy easier, marijuana or a bottle of vodka in a liquor store? clearly her daughter can't buy vodka in the liquor store because she could get carded.

her daughter could buy marijuana on the street because it is not regulated. although the intention is to keep powdered alcohol away from minors it makes it easier for minors to get ahold of it. >> i understand that argument but at the same time when i started thinking about powdered alcohol there is something that seems to me that if you have it most people using it would want to have it that way because they would like to hide the idea that it is actually alcohol. i don't know if it is to sneak it into a football game or spike a drink. >> all of the things they don't understand the product. first of all, it is not easier to conceal. a shot of liquid vodka is one-fourth the size of a shot of powdered vodka. so it's easier to conceal liquid alcohol than it is powdered alcohol. >> that sounds like you are going back on what you told me

about how it is easier and lighter and weighs less and reduces the carbon footprint. >> powdered alcohol is lighter so it ships at a much lighter weight. and thus it costs less to do that. in volume wise it's greater than liquid alcohol. it's not as easy to conceal. >> the fda released a statement saying it hasn't actually approved palcohol although approved some ingredients in palcohol. why do you think they are shying away from saying palcohol is approved and do you expect to have further road blocks down the way? >> i don't expect road blocks. the fda doesn't approve a product like mine. that's not its job. it inspects the ingredients which it did thoroughly and found it to be fine. that is not their job to approve a product like mine. >> they did go out of the way to

hedge it and said there are other things they don't have control over. >> there is nothing wrong. the ttb looked at it tested it and researched it. all agencies in charge of it looked at it and analyzed it and said it is fine. >> you expect it to be on the markets when? >> hopefully by the end of the summer. >> i want to thank you for joining us. >> thank you. up next, we are "on the money" the fabric of some big cities is rapidly disappearing and now a social media movement is trying to save businesses from rising rents. what you need to know when you are looking for someone to do your taxes. it's happening. today, more and more people with type 2 diabetes are learning about long-acting levemir® an injectable insulin that can give you blood sugar control for up to 24 hours. and levemir® helps lower your a1c. levemir® comes in flextouch the only prefilled insulin pen

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it's a problem from coast to coast and even overseas and it is growing. rising rents in big cities are pushing mom and pops out of their storefronts. neighborhood institutions are finding themselves with no place to go. small business reporter kate rogers joins us with more. >> now a social media campaign in new york city is aiming to save some of the big apple's main street businesses. take a look. >> reporter: many consider it an institution in new york's west village after opening in the 1830s. its current owner has been there for three decades.

by next month he will close his doors for good. he says his building was sold to a hedgefund which tripled his rent. >> we have a thriving business here with the chain pharmacies around we still were able to increase business because we just provided a service here cht. >> reporter: steady business isn't enough in the face of soaring rents. office space and store front rentals in new york city have increased by more than 20%. in san francisco the problem is even worse with storefront rentals up over 30% since 2010. a new social media campaign called save nyc is hoping to change that. the effort was launched by blogger jeremiah ross who has been chronicling the demise of mom and pops. the save nyc campaign is modelled off of save soho.

in san francisco city officials have recently stepped up their efforts to help shield mom and pops from commercial rent hikes there. but there are outliars like joe rocco, third generation owner of jim's shoe repair. he wound up settling out of court with landlord sl green when duane reed wanted to expand in his show. >> i feel good about new york city having an old business staying here and hopefully we start a trend where landlords start to say we need to keep old new york, some of the old businesses alive to keep the character of new york instead of becoming a cement city. >> reporter: rocco realizes he is a rarity, an old school shoe shine shop in a city where chain retail stores have increased by 2 1/2 percent. >> we should note those chain stores are often locally owned

and franchised independently but the idea is because they are big brand names they can bring in business and afford higher rents. >> you mentioned a couple of other areas that have had similar problems. are these campaigns effective? >> i think they are grass roots in nature. we mentioned san francisco so they are seeing soaring storefronts. office space there up over 65% due to the boom in silicon valley. david campos trying to protect legacy businesses. he has had some progress and is moving that forward and hopefully that will take effect in that city. effective in that the word is spreading i would say absolutely but as far as effecting change so far i think that they are very much in their early stages. something to keep an eye on for sure. up next "on the money" a look at the news for the week ahead. is do it yourself really a good idea when it comes to your taxes

or is it worth spending money to hire someone else? taxing questions when we return. hey mom, you want to live by the lake, right?

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you're looking for a place for your life to happen. zillow for for more on our show and our guests you can go to our website and follow us on twitter @on the money. here are stories coming up. on monday existing home sales are due for february. monday is also the fifth anniversary of the affordable care act becoming law.

on tuesday we look at the consumer price index. we will also be getting new home sales data for february. on friday the final reading of the gross domestic product for the fourth quarter. the united states and russia will send two astronauts to the international space station for one year. that is the longest space mission assigned to a nasa astronaut. there is less than a month before the april tax filing deadline. about six out of every ten tax filers pay someone else to pay their taxes according to the irs. if you fall into that category how do you find a good tax preparer. sharon epperson joins us with tips for your money and your future. where do you start with this? >> the first place to start is talk to family, friends, colleagues, find out who they use and try to get a referal. you want to check them out and figure out what type of person is best for you. do you want to work with a

certified public accountant? you can find one from aicpa.org. a cpa does a lot of tax plann g planning. an enrolled agent is licensed by the irs. you can find them through their association. and then some people want to go to a place that they know like an h&r block and you may find an enrolled agent there. >> i have gone to h&r block before and i have been warned because a lot of people at these national tax places don't have a ton of experience and are just there as temporary workers. is that true? >> you should be careful anywhere you go. this is your tax return. you need to make sure that you ask a couple of questions. what is the preparer tax identification number? each person should have one of those. that's going to be on your return. that's a big red flag. you want to check out their

history. check them out with the better business bureau and the places they should be licensed. a cpa should be licensed with the state regulators. you should also look at the irs to see if the enrolled agent is licensed there. just ask what type of training they have had, how long they have been doing this and what types of returns they work with. do they work with a lot of people in your situation and that's how you can check them out, as well. >> when do i know if it is better off for me to file on my own? >> if you are a do it yourselfer you may want to do it on your own. one of the great things the irs is offering is something called free file and if you fall into a certain income level you are able to get free tax preparation software from some of the big providers out there and you don't pay anything for it. this is good if you have a simple return, just straight 1040 form. then you definitely want to think about maybe doing it on

your own because you would be able to do it perhaps for free. if you don't qualify for that free software you could get free forms to fill out and send it in online through the irs website. and you can also just go to one of these software companies, get some of the software whether turbo tax or h&r block and do it online there. >> thank you so much. >> sure. that's the show for today. i'm becky quick. thank you so much for joining me. next week with all the new ways to buy or sell a house we will be talking to zillow about the changing state of real estate. have a great one and i'll see you next weekend. never before has this kind of passion, this kind of innovation, engineering, design and performance...

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>> narrator: in this episode of "american greed"... husband, father... >> i was just a good person trying to provide for my kids, trying to do the right thing. >> narrator: ...bank robber. >> i passed out on the kitchen floor. i said, "you have the wrong man. not my husband." >> narrator: it's a second career far away from the manhattan trading pits where he once made hundreds of thousands of dollars. >> he was a commodities broker doing bank robberies. just didn't fit. >> narrator: now his life, and the lives of those who know and love him, change forever. >> my pride and my ego just destroyed me, literally, from