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You can claim a tax deduction for making charitable donations, but it can be subject to several rules. Unfortunately, these rules prevent many crowdfunding donations from qualifying. Crowdfunding and Charitable Donations You’ve most likely heard of the sites, even if you’ve never donated before: GoFundMe, Kickstarter, Crowdfunder, and numerous others. Maybe a family faces dire financial trouble due to some unforeseen catastrophe, or someone is trying to raise money to create an amazing new gadget that will save the world....

Whom Is Life Insurance Best For? Life insurance policies can be straightforward: If you die, the insurance company pays a “death benefit” to whomever you choose to receive it. In addition to paying out a death benefit, some policies can include a savings element, or “cash value,” that’s accessible while you’re alive. But at the end of the day, life insurance is best if you have people whom you want or need to provide for after your death....

Whether you’re looking for adventure, hope to make your hobby into a career, or just want the ability to work from home, there are cool jobs out there for you. The key is to figure out what you want to do with your time—and find paying work that matches those interests. Here’s how to get started. There are hundreds of ways to put your talents to work for the Mouse....

Types of Cryptocurrency There are more than 6,800 cryptocurrencies on the market today. But the best ones for investing are those that have a large market capitalization. Just like when you’re looking at stocks, you can use market capacity (or “market cap”) to consider the total value of an issued crypto coin. The larger the market cap, the more likely it is to be liquid. There’s also a better chance it will stand the test of time....

Upon signing the Social Security Act into law in 1935, Roosevelt said: More than 80 years later, that’s still the case. Yet in 2020, Social Security provided 21% of married retirees and 45% of unmarried beneficiaries with 90% or more of their monthly income. Our overdependence on Social Security, which pays an average of roughly $1,500 per month to retired workers, is largely the result of changes in employment benefits and society....

To help you stay current, many insurance companies offer a variety of payment plans. This way, you can decide whether it makes more sense for you to pay for the entire policy all at once or break the premium up into smaller payments. But which option should you choose? Let’s look at the most common plans and payment methods so you can decide which one is best for you....

Two of the most important are your down payment and closing costs. According to the National Association of Realtors, the median home down payment was 12% of the purchase price in 2019. That would come to $24,000 for a $200,000 home. Closing costs, which include administrative fees and other costs to finalize your mortgage loan, add another 2% to 7% of the home’s purchase price. While the seller may pay some of the closing fees, you’re still responsible for assuming some of the costs....

The 2006 housing market slowdown had affected the economy. In September 2007, Libor rates began rising above the fed funds rate. Libor is the interest rate that banks charge each other for overnight, one-month, three-month, six-month, and one-year loans. It’s the benchmark for bank rates all over the world. Rising Libor rates meant that banks were afraid to lend to each other. They had too many subprime mortgages on their books....

However, there are a few rare exceptions: business cards with no personal guarantee. While they may be a good option for extending your business’s buying power and protecting your personal credit, no-personal-guarantee business credit cards often have stringent requirements that make them harder for smaller businesses to access. We’ll cover a few of the best business credit cards with no personal guarantees below to help you decide if one might be a good fit for your business’s needs....

In this article, you’ll learn more about how the process works. What Is a Capital Loss? A capital asset is anything you purchase and own for personal or investment purposes. You would have a capital gain or a capital loss if you were to sell that asset for more or less than your basis in it—what you paid for the asset plus certain allowable costs. The difference between what you paid for the asset and the sale price represents either a capital gain or a capital loss....

Bitcoin is considered a commodity regulated by the Commodity Futures Trading Commission (CFTC), it is considered property for tax-purposes by the IRS and bitcoin futures exchange-traded funds come under the purview of the Securities and Exchange Commission (SEC.) While these authorities have begun laying out some regulatory framework, there is a long way to go. Even though the actual buying and selling of cryptocurrency with blockchain technology are considered extremely secure, the SEC and CFTC have issued multiple warnings about scams pertaining to cryptocurrency investments....

When this happens, whether the bank error is in your favor or someone else’s, the bank will eventually reverse the transaction and credit it to the correct account. In the meantime, this type of mistake will affect the amount of cash available in your account and you should make sure the error doesn’t end up costing you money. Most important, you should never assume the money is yours and spend it....

It’s not as complex as it sounds. In the equity section of the balance sheet, you’ll see terms like “par value” and “shareholders’ equity,” and proprietorship reserves. Par value is the nominal value of the company’s stock. Shareholders’ equity is the difference between total assets and total liabilities. Proprietorship reserves are held in an account that is set up to alert investors that part of the shareholders’ equity won’t be paid out as cash dividends....

The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. They created interest-only loans that became affordable to subprime borrowers. In 2004, the Federal Reserve raised the fed funds rate just as the interest rates on these new mortgages reset. Housing prices started falling in 2007 as supply outpaced demand....

CDs are safer than buying stocks and generally offer a better return than savings accounts. The biggest trade-off is that you have to lock your money to get that higher rate. Before you commit to parking your cash for several months—or years—consider the pros and cons. What Is a Certificate of Deposit? A CD, or certificate of deposit, is a type of deposit account that offers a fixed interest rate....

Learn examples of how constructive receipt could apply to both businesses and individuals. What Is Constructive Receipt? Constructive receipt is determined by when the person who receives the income first gains control over that income. An individual or company is considered to have control over income when it is credited to that entity. At that point, the entity could spend, redirect, or otherwise exercise control over that income. Even if the entity decides not to do anything with the income, constructive receipt has still occurred because the entity has the option of doing something with that income....

As of 2021, Americans were $16.64 trillion in debt. Household debt balances increased by $85 billion in the first quarter of 2021, a 0.6% rise from 2020 Q4. Household debt balances at the beginning of 2021 were $499 billion higher than at the end of 2019. These numbers underscore how important it is to read the back of your credit card statement for details on the specific length of your grace period and to determine how your finance charges are calculated in regard to your personal debt....

Annual Fee A credit card’s annual fee is a yearly charge to the consumer to use the credit card and take advantage of its benefits. Credit card annual fees range from approximately $25–$500 per year depending on the card. Most consumers try to find a credit card with the benefits they want, but without the annual fee. Annual Percentage Rate (APR) The APR is the annual cost of borrowing money on your credit card....

Why Good Credit Is Important Your history using credit cards is compiled into a credit report and graded with a credit score. Lenders, employers, landlords, insurance companies and even utility service providers all use your credit report or credit score (or both) to decide whether to approve your applications and at what cost. Having too much credit card debt can leave negative marks on your credit report and drive your credit score down....

What Are Depreciation Deductions? Businesses who buy assets (like equipment, furniture, computers, and vehicles) take the expenses for the cost of these assets over time, not just in one year. Only certain assets can qualify for these accelerated depreciation deductions. The Internal Revenue Service (IRS) requires that these assets be owned by your business, used in producing income, and have a useful life that can be determined. To give businesses an incentive to buy assets and stimulate the economy, the U....