A fixed asset is one that a business or firm will use to earn income. The owner of the business doesn’t anticipate selling the asset within a year of acquiring it. It will continue to be “in service” after that period of time and it will help produce long-term income. Examples of Depreciable Assets Various types of assets can be depreciated. They include: Machinery Vehicles Computers and software Other standard office equipment Furniture Buildings...

This kind of mortgage can benefit everyone involved if it’s executed correctly. However, without precautions, things can also go badly—for your relationship as well as your finances. As you evaluate the decision to borrow or lend through a private mortgage, keep the big picture in mind. Create a win-win solution where everybody gains financially without taking on too much risk. Benefits of Using a Private Mortgage The world is full of lenders, including big banks, local credit unions, and online lenders, so why not just fill out an application and borrow from one of them?...

For instance, say your neighbor turns up on your property one day with a lawnmower and proceeds to mow your lawn. You go out and say, “Thanks!” The next week your neighbor turns up again and mows your lawn again. You thank your neighbor again and think nothing of it. The third week, your neighbor mows your lawn and turns up at your door with a bill for three weeks of lawn mowing....

We’ve all worked with someone who is excellent at engaging with colleagues and is always dependable. This individual has honed their personal skills. They communicate effectively with others, self-express, and self-manage. Your personal skills shape not only your professional trajectory, but your private life as well. Overall, employers look for job candidates with strong personal skills because they positively contribute to the office culture, and are reliable in a variety of ways....

Business solvency occurs when a company has enough investment in assets to cover its debt or liabilities. Solvency ratios measure the extent to which a business can cover its liabilities in the long term or during more than one year. Cash flow ratios are more accurate at measuring a firm’s liquidity and solvency than are ratios derived from the income statement or balance sheet. Knowing how to develop and apply the information obtained from cash flow ratios is crucial for a viable business....

Changes in inflation, as measured by the Consumer Price Index published Thursday by the Bureau of Labor Statistics, are typically given as year-over-year change, that is, how much prices increased over the last 12 months. In December, consumer prices were up 6.5% over the year—a pretty steep hit to the pocketbook, but a lot better than the 9.1% figure from June. The slowdown has been even more dramatic if calculated in annualized three-month rolling averages, as the chart below shows....

But even though the internal rate of return is usually a reliable method of determining whether a capital investment project is a good investment for a business, under some conditions IRR is not as reliable, but the NPV is. What Is Internal Rate of Return? Internal rate of return is a way of expressing the value of a project in a percentage instead of in a dollar amount. In the language of finance, the internal rate of return is the discount rate or the firm’s cost of capital, that makes the present value of the project’s cash inflows equal the initial investment....

What To Consider Before Going Mortgage-Free To determine whether becoming mortgage-free should be your goal, first consider: The terms of your loan Your current mortgage rate vs. market rates Your household income and expenses Your retirement plans The Terms of Your Loan Some mortgage lenders penalize you for paying off your mortgage early. Does your loan have any prepayment penalties attached to it? It’s important to understand all terms and conditions that come with your mortgage....

You may want to get a new credit card from a bank that you already have a credit card with, especially if you’re interested in churning for credit card rewards. But will your card issuer approve your application for another credit card even though you already have one with them? You’re in luck. Many credit card issuers will indeed approve you for another one of their credit cards as long as you meet the qualification criteria....

“I had to fight for any type of compensation, any type of award, any type of raise that I got there,” Spencer said. After changing jobs four times in the past year—two layoffs and quitting twice—she recently started a job where she is making $20,000 more, as a digital manager at Taft Communications, a public relations firm in Lawrence, New Jersey.“If I learned anything from having two layoffs and continually finding work, it’s that I can find a job within two weeks,” she said....

redhumv / Getty Images As time passes, you might expect an unpaid debt to go away eventually. Unfortunately, debts don’t just disappear because you ignore them. Your creditors may stop contacting you for payment after a while, but collection efforts can resume at any time. If a creditor or debt collector contacts you about an old debt, they’re likely within their rights to do so. Is There a Debt Collection Time Limit?...

Do You Need to Buy Insurance for Your Drone? Drones aren’t just popular with one type of user. Some hobbyists use cheap drones for fun, while professional photographers may make use of camera equipment on high-end drones. Depending on the model, drones can cost anywhere from $40 to over $2,000. The good news is that most insurance company policy wordings would cover a drone in the same way that they would cover your personal property or contents....

The number of nonfarm payrolls increased by just 210,000, less than half the growth seen in October or what economists had forecast, the Bureau of Labor Statistics said in its monthly report Friday. On the other hand, the unemployment rate fell to 4.2% from 4.6%, edging closer to the pre-pandemic level of 3.5%. Economists were also encouraged by the labor force participation rate, which was the highest it’s been since the pandemic began because 594,000 people left the sidelines and either got work or started looking for it....

There were 10.1 million job openings in the U.S. on the last business day of June—590,000 more than May and the most for any month since data was first collected in 2000, the Bureau of Labor Statistics reported Monday. For the first time since the pandemic began, there were more job openings than unemployed people. The largest increases in available jobs were in professional and business services (227,000), retail (133,000) and accommodation and food services (121,000)....

A new poll sheds light on the debate over enhanced unemployment insurance, showing 13% of people on unemployment refused a job offer during the pandemic because their benefits paid them enough money. Based on the survey, Morning Consult, a polling company, is estimating that weekly unemployment payments—which have been $300 bigger because of pandemic-triggered federal supplements—kept 1.8 million people out of the labor force. But the company also points out that these benefits were not the most common reason people didn’t accept a job offer....

Learn how the sharing of employees by joint employers works and how to determine if your business is a joint employer to ensure that you comply with employment laws. What Are Joint Employers? Joint employers refer to two or more individuals or entities that have joint control of the terms and conditions of an employee’s job. Notably, such employers are both jointly and severally liable—that is, each is independently liable—for the employee’s required minimum wage and overtime pay under the Fair Labor Standards Act (FLSA)....

The U.S. was second, with $20.5 trillion, or a 15.8% share. The European Union was in third place, contributing $19.9 trillion, or 15.3%, of world GDP. The three combined represented 48% of the world economy. No other economy is even close to the top three. The fourth-largest in 2019 was India, generating $9.2 trillion, and Japan was fifth at $5.2 trillion. Germany, the largest economy in the EU, added $4....

Stock market investments are shares of ownership in an underlying company. That means it pays to look for companies that operate in a way that creates increasing value over time. When those companies do well by increasing revenues, capturing more market share, or growing in size, their share price often follows suit by increasing as well. Success with penny stocks means looking for high-quality companies like these. If you find a high-quality company still trading at low prices, you can multiply your investment dollars when the shares move higher....

What Is a Lien? A lien is a legal claim or a right against a property. Liens provide security, allowing a person or organization to take property or take other legal action to satisfy debts and obligations. Liens are often part of the public record, informing potential creditors and others about existing debts. Here’s an example: When you buy a home, you promise to repay your lender. But your lender might want more than your signature—they have very little leverage if you stop making payments....

Learn more about loss assessment, what’s included in this type of coverage, and what to watch out for when shopping for insurance. What Is Loss Assessment in Condo Insurance? Loss assessment coverage is an add-on to your condo insurance policy. It bridges the gap between the HOA’s master policy and your condo policy. This insurance coverage applies to damages in common areas such as stairwells, lobbies, pools, and so on....