Here’s why you should reconsider refinancing federal student loans during the pandemic. Why You Shouldn’t Refinance You take out a new student loan with a private lender when you refinance. The new loan pays off and replaces your existing student loans (federal or private). Refinancing student loans can be an attractive option to combine and simplify student debt, to adjust loan payments or terms, and to potentially secure a lower student loan rate....

JGI/Jamie Grill/Getty Images How Can a Grandparent’s Gift Hurt Financial Aid? Some grandparents hope to pay a child’s tuition expenses directly to the school or give a cash gift directly to students. While generous, the payments can complicate things when it comes to financial aid, because cash gifts count as untaxed income on the the U.S. Department of Education’s Free Application for Federal Student Aid (FAFSA). The FAFSA determines a student’s eligibility to receive federal financial aid....

miodrag ignjatovic/Getty Images Democratic senators confirmed Chopra in a 50-48 party line vote Thursday over the objections of Republicans who said Chopra would “overreach” and politicize the agency. He currently serves as a commissioner of the Federal Trade Commission, where he earned praise from the administration of President Joe Biden for his “aggressive” tactics against companies accused of wrongdoing. Before joining the FTC in 2018, Chopra was assistant director of the CFPB, leading efforts to regulate student loans....

Andriy Onufriyenko/Getty Images The Department of Labor on Wednesday announced a plan to make it easier for employers to offer funds focused on environmental, social and governance measures in their 401(k) plans. The proposal, which is subject to a 60-day comment period, would reverse a Trump-era rule that required employers to do extensive analysis before offering so-called ESG funds and blocked them from being default options, a frequent feature in retirement accounts....

ForUsAll, a 401(k) provider that administers retirement accounts for about 400 employers, said this week it’s launching a platform called Alt401(k) that will allow participants to put their money in alternative investments, including cryptocurrencies, in addition to the more traditional options like mutual funds and exchange-traded funds (ETFs). Starting in July, employees of companies that sign up for the platform will be able to transfer up to 5% of their balances into a secure account where they will be able to buy, hold, and sell more than 50 different cryptocurrencies....

Hispanolistic / Getty Images The IRS has been sending the supplemental payments weekly since the end of March, and said the latest round means more than 6 million “plus-up” payments have now been doled out, totaling over $7.5 billion. The payments were processed beginning on May 7 but have an official payment date of Wednesday, May 12, the agency said. The “plus-ups” are sent to taxpayers whose 2020 tax returns were processed after the amount of their third-round stimulus check payments was determined....

If you can reduce your financial worry, you will be able to focus on other important areas of your life and relax, knowing you have a plan to handle your financial situation. Here are a few things you can do now to relieve your financial stress and make it easier to function each day. Create a Budget You may feel overwhelmed and think that a budget is only going to add to your financial stress, but it is the best tool you have to get control of your finances and stop worrying about money....

6 Important Considerations Before Building Your Own Home When building your own home, be sure to consider these six factors before getting started. 1. Where Will You Build? Location is everything. You can put up a bad wall, tear it down, and build it again, but you cannot move a plot of land. You’re stuck with what you bought. The adage “Location, location, location” rings true. Buy the land first, and make sure you have access—a road that leads to it....

You may also choose to tighten up your spending habits simply to get out of debt or to save more for retirement. One of the easiest ways to save money on food is to reduce the amount you spend at the grocery store. These ideas will help you without using up as much time as extreme couponing. Additionally, the sales go in cycles, and you should be able to tell how much you will need to buy until the item goes on sale again....

Investing can cause valid and genuine fears for new investors. Even experienced investors can become scared at times. People make bad decisions, get carried away by emotions, and lose money because of situations outside of their control. If you’ve just started investing, you’re getting into something new and unknown. As with most fears, you can take actions to eliminate fear-based hesitations and become a successful investor. Educate Yourself Knowledge is an essential asset when you’re investing....

Paying attention to timing is critical for leveraging tax benefits for your small business. Doing some year-end housekeeping can help you make the most of any tax breaks your business qualifies for. 2017 Tax Changes To Remember for Year-End Tax Planning The 2017 Tax Cuts and Jobs Act (the “Trump Tax Cuts”) instituted a number of changes to the way small businesses handle taxes. These tax changes below could impact your business taxes, so it’s important to remember them at the end of the year:...

A balance sheet is a financial tool used in business to determine a company’s assets and liabilities at a specific point in time (for instance, Dec. 1 of the calendar year). It is a snapshot of the company’s financial situation at the date of the statement. Assets are listed on the left side of the balance sheet, while the liabilities are listed on the right. Both must equal the same amount and thus “balance” each other out....

It is worth looking into Poland’s economy if you are looking to invest in the country. Poland’s economy is very reliant on Germany, with $54.5 billion in exports to Germany. The country is experiencing conservative swings in politics and has a legal framework that is still developing. Poland is experiencing investment increases, GDP growth, increases in exports, and economic expansion—an indication of possible investment opportunities for forex (foreign exchange) investors....

Tax Law Changes and Accounting Options The 2017 Tax Cuts and Jobs Act allowed for a change in the option to select cash accounting instead of accrual. Beginning in 2018, more small businesses could elect to use cash accounting. You can use the cash method if you had average annual gross receipts of $25 million for the preceding three years. Some small businesses may also be exempt from certain accounting rules for inventories, cost capitalization, and long-term contracts....

It’s easy to do, and you can move money around the world. But before you provide those digits, see what you’re getting yourself into and evaluate the alternatives. Types of Transfers Before determining whether you should send money from a credit card, it’s important to first define what we mean when we talk about different types of transfers. Bank Wire Transfer Wire transfers traditionally go through banks. These are same-day transfers from one account to another, and they’re popular for transactions like home purchases....

The state’s overall tax burden has nonetheless been ranked among the nation’s lowest for decades according to the Tax Foundation, a non-profit and non-partisan educational and research organization. Overview of Key Florida Taxes Increases in value are limited to 3% of the previous year’s assessment or the Consumer Price Index (CPI), whichever is less. This limitation is known as the “Save Our Homes” cap. Taxes are based on millage rates set by local governments, with 10 mills being equal to 1%....

There are two main types of IRAs from which to choose. Traditional IRAs let you set aside some of your income before it’s taxed, just like your typical 401(k). You’ll pay taxes later, during retirement, when you make withdrawals. By contrast, Roth IRA contributions are made from funds that have already been taxed. When you withdraw those funds during retirement, you won’t be taxed again. Depending on the type of 401(k) you have, rolling over to a Roth IRA may have some tax consequences....

A POD account allows for the money remaining in the account when the account owner dies to pass to directly to the beneficiaries named by the account owner. It will happen outside of probate, and in general, all that the beneficiaries of the POD account will have to do to gain control of the account after the owner dies is to show the bank manager an original death certificate for the owner....

While 48% of respondents said they would negotiate a hybrid in-office/remote work schedule, and 30% said they would just go back to the office with no other changes, 23% said they would dump their employer altogether and find a new gig if they were required to go back to the office. The survey of 1,000 new U.S. homeowners was conducted by HarrisX for Realtor.com in late March and early April....

Another one of the myriad documents that you must complete when you file for bankruptcy is Official Form 108, called the “Statement of Intention.” This document tells the bankruptcy trustee, the judge, and your creditors what you intend to do with certain property and certain leases. The Statement of Intention can also affect how the automatic stay operates. You can download and fill out the Statement of Intention form here....