Posts

Though it may appear challenging, establishing your health insurance can be straightforward with a little help. Many options exist for self-employed workers with a variety of ways to save. Learn more about finding the right plan, understanding the costs involved, and qualifying for a low premium. Do I Need Self-Employed Health Insurance? Self-employment covers many types of workers who generate income by providing services but aren’t employed by a company....

These trusts allow you to fast-track the transfer of property after death without having to deal with the probate court system in your state. Done properly, the transactions are all handled privately and you have significant leeway to decide exactly when and how you want these transfers of assets to be accomplished. Done improperly, you could have a disaster on your hands. The creator of a revocable living trust is typically referred to as the “grantor,” and in most cases the grantor will also serve as trustee, managing the trust and the assets it holds....

As of Oct. 1, about 23% of homeowners insured by the program who renew their policies will be eligible for rates averaging $86 a month less than before, the Federal Emergency Management Agency (FEMA) said. The decrease is due to a new policy called “Risk Rating 2.0” that changes how FEMA, which administers the program, assesses flood risk for properties and how much it charges in premiums. On the other side of the new policy’s coin, many homeowners will see annual rate increases—but that part won’t go into effect until April....

The stakes in the auto repossession market these days are high because of skyrocketing prices for cars and trucks, both new and used, the Consumer Financial Protection Bureau said. Because of a global shortage of computer chips used in manufacturing, cars are a lot more expensive than they were, making repo a lucrative activity for lenders who can sell a repossessed car for a handsome profit. Prices for used vehicles have soared 40....

The Tax Cuts and Jobs Act (TCJA) that came into force in 2017 created opportunities for tax savings for millions of Americans, including those in higher tax brackets. If you’re interested in high net worth tax planning, here are some of the most important things to consider. Investment Tax Planning Your investments can generate current income and long-term wealth but it’s important to consider the tax implications. Selling investments at a profit can trigger capital gains tax....

“With median sales prices remaining close to record highs, there are prospective buyers who are priced out, and first-time buyers tend to be particularly sensitive to these elevated prices,” said Joel Kan, vice president of economic and industry forecasting for the Mortgage Bankers Association, in a commentary. What’s more, some prospective buyers forced out of the housing market have turned to rentals for a place to live, driving up rents, said Lawrence Yun, chief economist of the National Association of Realtors, in a commentary....

Spending in April for food, housing, gasoline, and utilities like gas and electricity consumed 70% of the average Social Security payment of $1,479 (or $2,958 for two-beneficiary households), according to an analysis by The Balance. Last year, spending for the same items took up 60% of the average monthly Social Security benefit payout. The Balance’s analysis looked at spending and inflation figures from the Bureau of Labor Statistics (BLS) and other sources, along with average monthly benefit figures from the Social Security Administration....

Basics of a Fixed Annuity A fixed annuity is most comparable to a certificate of deposit (CD) issued by a bank or other financial institution. Except with a fixed annuity, the interest you earn accrues inside the annuity and is not taxable until you withdraw it from the annuity fund. With a CD the bank sends you a 1099-INT tax form each year which reports the amount of interest you earned....

What Is a Secured Credit Card? A secured credit card works just like a regular credit card. You swipe your card to make purchases that deduct from your credit limit. You repay the balance with monthly payments or all at once. The major difference with a secured credit card is that you’re required to make a deposit against the credit limit on the account. The security deposit is collateral held in case you default on credit card payments....

What is a Sole Proprietor A sole proprietorship (sometimes called a “sole prop”) is a business that is owned and run by one person. The business (called a “sole proprietorship”) is not a corporation, and there’s no distinction between the business and the owner. This means that the business owner is personally liable for all the debts and other liabilities of the business.   How a Sole Proprietor Gets Paid As usual with this type of tax situation, there is good news and bad news....

The way I’m reading it—the amount that comes out in your paycheck initially is higher, but when you do your taxes at the end of the year, the income isn’t actually treated any differently than your regular salary—is that right? So hypothetically, you might get those extra taxes back? Obviously it could push you into a higher tax bracket, but arguably so would a higher base salary. Also, are there any differences as it relates to state/local taxes in NYC?...

This has the potential to change the affinity online banking world in a major way. What is Affinity Online Banking? Affinity online banking is banking that is geared toward a specific type of customer instead of the general public. Brick and mortar credit unions have long used this strategy by being chartered by teachers, firefighters or military personnel. But unlike credit unions—which are often only open to a particular qualified membership base—affinity online banking is usually open to the general public but is marketed with a specific group or angle in mind....

If you’re ready to retire and start receiving a Social Security check, first make sure that you’re eligible to apply for benefits. You must be a maximum of three months away from your 62nd birthday, and you must also be ready to start taking your benefits within the next four months. Applying Online If you have access to a computer, then the easiest way to apply for retirement Social Security benefits is online....

How Life Insurance Works A life insurance policy is created when you complete an application, are approved, and start paying premiums to the life insurance company. When you die, the life insurance company pays the policy’s death benefit to your beneficiaries. How the insurance company handles those premiums in between their receipt and the payment of a death benefit (if there is payment) is what determines how profitable that insurer will be....

The Federal Reserve and Unemployment When a country slips into recession the government—working through the Federal Reserve—works to reduce unemployment by boosting economic growth. The primary method used is expansionary monetary policy. During an expansionary policy, the Federal Reserve eases monetary policy by reducing the federal funds rate and buying U.S. Treasury and mortgage-backed securities on the open market, which increases the supply of money in the economy. Collectively, these tactics are designed to reduce interest rates across the yield curve, which spurs businesses to borrow money to buy capital equipment and hire more workers....

The homeownership gap between Black and White households is one of the driving forces behind the racial wealth gap, because owning a home is still a top wealth driver in the U.S. In the fourth quarter of 2021, the Black homeownership rate was 43%, compared to 74% for White Americans, according to the latest U.S. Census Bureau report. For comparison, the national homeownership rate was about 65% at that same time....

How a Real Estate Referral Agent Works People who make real estate referrals function like an agent’s agent. While they have real estate licenses and are affiliated with real estate brokerages, they usually don’t list or locate properties for clients; instead, they find an active agent for individuals to work with. In return, they receive a finder’s fee from the agent they referred—a percentage of the agent’s commission—if and when the deal goes through....

These will be questions about you personally—your personality, your work style and work ethic, how you handle stress, what you expect from an employer, and how you handle certain situations. Get an idea of the types of personal interview questions you can expect, and insight into why interviewers ask these questions. What the Interviewer Wants to Know By asking personal questions, interviewers will get to know you. Personal questions can touch on your passions and motivations, as well as inquire about your personality and how you work....

Historically, the corporate bond market has been an institutional one, with little room for small investors. Bonds were often bought and sold in the closed world of experienced insiders and experts. This is slowly changing as stock exchanges begin to implement bond trading. Learn more about the bond markets and how to buy newly-issued corporate and older bonds. The New Bond Issue Market The corporate bond market has two distinct levels....

Trading or Investing in Commodities Buying commodities for a long term investment have become much more popular in recent years. The advent of commodity ETFs has made this process much easier. There are also other investments like managed futures that can make money regardless of which direction the price of commodities move. If you are investing in commodities using a percentage of your investment portfolio, timing isn’t necessarily as important as it is for trading commodities....