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The W-2 Form and W-3 Form The W-2 form is an annual wage and tax form sent to two different places: It’s given to each employee, showing their total wages and taxes paid during the year, so they can use it for their income tax reporting, andIt’s filed with the Social Security Administration (NOT the IRS!) to verify the information given to the employee. You must add up wages for all your employees, using the information on all employee W-2 forms to complete the W-3 form....

What Is Form 8829? IRS Form 8829 is used by small business owners to calculate the allowable expenses for business use of their home or apartment and total the amount of allowable deductions for operating expenses and losses. The form then is added to the business owner’s Schedule C as part of their personal tax return on Form 1040 or Form 1040-SR (for seniors). Who Should Fill Out Form 8829? Before you begin to fill out this form, make sure your business space qualifies for this deduction....

Calculating Keltner Channels Keltner Channels were introduced by Chester Keltner in the 1960s, but the indicator was updated by Linda Bradford Raschke in the 1980s. This later version of the indicator is the one in use today. Keltner Channels are a combination of two other indicators: the exponential moving average (EMA) and the average true range (ATR). The moving average is the average price for a certain number of periods. The exponential variation gives a greater weighting to more recent prices and a lesser weighting to prices that aren’t as recent....

Traditional Lenders Most lenders are unwilling to lend to startup businesses. That doesn’t mean you can’t borrow, but it might not work out exactly as you imagined. If you’ve already been turned away by traditional banks and credit unions, there are still several avenues to explore. SBA Loans Before you completely give up on traditional lenders, ask about using loans and lines of credit guaranteed by the US Small Business Administration (SBA)....

Apply for Jobs for Which You Qualify Companies quickly discard applications from unqualified candidates. If you’re only applying because it seems like interesting work, but you don’t have any actual experience in the field, then your time may be better spent on education or internships. If you can make the stretch and fit your qualifications and background to the described opening, you have a shot. Cover letters give you an opportunity to make the case for an exception to experience requirements, but you need to be direct and convincing....

Choose an Advisor Unless you have experience with investing, you may want to speak with a financial advisor before you decide what to do with your cash. In most cases, a fee-only adviser with a Certified Financial Planner (CFP) designation is a wise choice because stockbrokers, bankers and insurance companies usually work for commission. When they’re getting paid to sell you a particular investment over another, they may not be working entirely in your best interest....

But, the type of coverage you have can make a difference of thousands of dollars in how much you get paid in a claim. Many homeowners and renters can find themselves in a very bad situation if they haven’t checked their insurance coverage carefully. Be Proactive With Tornado Damage Insurance Tornadoes can appear from any direction, and may or may not be accompanied by hail, lightning, thunder, and rain. One of the most dangerous aspects of a tornado is its force and sudden appearance, destroying property with little warning....

How To Make Money Online Making money online means that you don’t need to open up a shop or necessarily consider lining up storage space for inventory in order to operate a business. There are many online platforms that offer a simple sign-up process for many kinds of other small business owners to start making money right away. Tips for Getting Started Like any startup business, there are a few steps you’ll need to take to get started....

Having a list of debts, choosing a debt payoff strategy, and knowing the amount you can afford to pay toward your debts are all key steps to take before you can launch your plan. In this article, you’ll learn how to make the plan of your choice stick. First, Stop Adding New Debt While you’re working to pay off your balances, no matter the type of loan, it’s important not to take on any new debt....

Order Your Credit Report There are a few ways you can order your Experian credit report. For free from www.annualcreditreport.com. Federal law grants you one free copy of your Experian credit report each year. You can also order your annual Experian credit report by calling 1-877-322-8228 or by mailing a request form. You can view your Experian credit report through CreditKarma.com. It is a free service that does not require a credit card subscription or a trial period....

It is particularly important when you send employers your resume and cover letter as attachments (either via email or through an online job application system). When the employer opens your document, he or she will see what you have named your document. You, therefore, want the title to be professional, and to state who you are clearly. How to Name Your Resume File Read below for more advice on what to name your resume file and other job application documents, as well as what not to name them....

Once you pass this exam, you are licensed by the federal government to represent taxpayers before the IRS. This is usually done when someone is being audited or having other significant tax troubles. The test can be difficult. To pass, you’ll need good study habits and top-notch IRS and tax resources. Here are some pointers for preparing and passing the exam. The Enrolled Agent Program Once they are licensed, enrolled agents have unlimited practicing rights....

Let’s take a look at the ways shopping for a mortgage will affect your credit score and how to minimize the impact. How Does Mortgage Shopping Impact Your Credit Score? When you start shopping for a mortgage, the process itself isn’t difficult. You find a lender—or two or three—and fill out an application. The lender will then verify your eligibility and qualifications. One of these steps involves checking your credit score....

Credit cards, loans, savings, and even emergency funds allow you to buy more things than your income would ordinarily allow. Unfortunately, that kind of lifestyle isn’t sustainable and, at some point, reckless spending will catch up to you. Learning to live below your means will help you avoid financial ruin and find the peace that comes with financial freedom. You also need to know how often you get paid so you can better match the timing of your income with your bills....

However, if you don’t have this conversation when your parents are able to share key financial information and instructions, their passing or incapacitation will be even more painful as you grapple with their estate. Results from the December 2020 Wells Fargo/Gallup Investor and Retirement Optimism Index showed that 43% of investors between the ages of 50 and 64, and 17% of those 65 or older, have neither a written will nor written estate plans....

To help answer some of the most common questions we’re getting right now, we turned to two of our industry-leading experts for their perspectives on what’s going on. Justin Pritchard is an author and Certified Financial Planner (CFP) who has been writing for us since 2003. Pritchard has written hundreds of articles on The Balance about banking, loans, investing, and more, and he also runs a financial planning firm in Colorado....

If you’re ready to take control of your finances—even in the smallest way—here’s what you can start doing today. Start Budgeting You may think that you don’t have enough money to budget when you are living paycheck to paycheck. But budgeting is the act of planning how and when you are going to spend every penny. In short, it means that you know where you are going to spend your money before you spend it....

Your credit card issuer might let you know in advance that the account will be closed, but they’re not required to give you notice. Some companies close your account first, then send you a letter telling you that it has been closed. Some cardholders don’t even realize their card has been closed until they try to use it and the card is declined. Why Creditors Close Inactive Accounts It all comes down to a business decision....

Learn about the different types of injunctions, which are categorized by the length of time they’re in effect and the type of action they require, and the circumstances under which a judge might issue them. What Is an Injunction? An injunction is considered to be both an extraordinary and equitable (fair) remedy taken by a court and is intended to prevent irreparable harm that couldn’t be adequately addressed at the conclusion of a trial by a monetary judgment....

Compassionate Eye Foundation/Natasha Alipour Faridani / Getty Images Alternate term: It’s also called a “credit-based insurance score,” because it’s based on factors much like those used to figure out your credit score. How Insurance Scoring Works When you apply for insurance, your agent will send your data to their underwriters. They’ll then get to work figuring out your credit-based insurance score. They will also assess the many other factors at play to assign your risk level....