Having errors setting up taxonomies

I am getting this error when i try to set up a taxonomy called "wealth"
under the custom post type "definition"
http://possible5.com/?item=financial
Warning: Invalid argument supplied for foreach() in /home/content/02/8916902/html/fiveyr/wp-content/themes/canvas/includes/theme-shortcodes.php on line 340

I have tried with and without rewrite