Posts

This article gives an overview of 1099 forms and the process for correcting them and reporting the corrected payments. When Do Businesses Issue a Form 1099? Small businesses issue several types of 1099 forms to report taxable payments to various businesses and individuals. The most common types of 1099 reports are: Form 1099-NEC for non-employeesForm 1099-MISC for miscellaneous types of paymentsForm 1099-DIV for report dividends and other distributions to shareholdersForm 1099-INT for interest paymentsForm 1099-R for distributions from retirement plans, profit-sharing plans, pension plans, and more...

vgajic/E+/Getty Images Why Does Your Manager Talk Down to You? First, you need to understand what issue your manager has with you. If you lack training and struggling in areas where other employees are not, you may want to ask your manager or other coworkers for advice on how you can improve your performance. Your manager may not be intentionally condescending, but their management style might not work for you....

In the vast majority of cases, being startled is the only damage you will incur if you go over a pothole. It might put you in a grumpy mood, but it’s not going to cause any long-term damage. However, if the pothole is particularly deep or if you’re going too fast, you might be left with some dents and scratches on your vehicle—or worse. Pothole damage to your vehicle can easily be extended....

What Is Partial Unemployment? “Partial unemployment is when an individual is working reduced hours, through no fault of their own, and is sometimes referred to as being ‘underemployed,’” Leslie Tayne, founder and head attorney at debt solutions law firm Tayne Law Group, told The Balance in an email. “Depending on the number of hours/days the claimant reports, the state will typically reduce benefits by a certain amount or percentage.” In December 2020, there were about 6 million people employed part time due to reduced hours or the inability to find full-time jobs, according to the U....

According to a survey from the Employee Benefit Research Institute, 17% of large employers offered student loan assistance as a benefit in 2021, with another 31% of employers saying that they were planning to offer the benefit in the future. Other financial wellness perks that are more popular with employers include financial planning education (55%), employee discount programs (50%), and tuition reimbursement (43%). But with employers still struggling to differentiate themselves from their competitors in order to hire skilled workers, student loan assistance may continue to gain in popularity....

You may be able to receive a free FICO score by signing up for another subscription service, but that isn’t always a good option. You might also get a free FICO score if you’re denied a product or service or if you receive less favorable terms because of your FICO score. Instead, if you want to get a feel for where your credit stands, you can use a FICO score estimator....

The key is to do as much planning ahead of taking a career break, so that you’ll be able to devote your energies to other things – plus, minimize stress when you return. Before You Take a Career Break Save Money If you’re reading this article, chances are that you’re already biting your nails about the financial aspect of taking a break. Don’t let your fear and trepidation scare you away from making practical plans....

How Mutual Funds Work A mutual fund is an investment security type that enables investors to pool their money together into one professionally managed investment. Mutual funds can invest in stocks, bonds, cash, or other assets. These underlying security types, called “holdings,” combine to form one mutual fund, also called a “portfolio.” Before You Buy a Mutual Fund Before you choose a mutual fund to purchase, you will need to spend a little time learning the basics and studying a guide of best practices for investing in mutual funds....

Most businesses have an overall budget which is called the master budget. The master budget is divided into two parts. The operating budget is associated with the income-generating activities of the firm like sales and production. The financial budget includes information about the company will acquire cash in the future and how it will spend that cash. The financial budget is generally the last budget developed in the company’s budgeting process....

While some people tend to make random elections for getting deferred comp, this can result in a payout that is not tax-efficient. The result is a tax liability that is higher than it needs to be. To make the most of the money you earn, you want to pay the lowest taxes you can. It can pay to know a lot about non-qualified deferred comp plans (NQDCs), how they work, and how they can be optimized as a life-long retirement income plan, especially when you consider the tax benefits that one of these plans can give you....

Central banks use monetary policy tools to control interest rates and growth by adding or removing liquidity from the financial system for banks to access. Learn how central banks control interest rates to spur lending and help people borrow and spend. What Do Interest Rates Affect? Interest rates impact an economy by adding or removing liquidity from the financial system. When central banks adjust rates, they affect growth. Central banks lower interest rates to get firms and people to borrow and banks to lend....

Opening a CD may seem intimidating, but the process itself is relatively easy. Let’s review the basics of how CDs work and what steps you’ll take to open your CD account. What Is a CD Account? A certificate of deposit (CD) is a bank or credit union account that pays a set rate of interest for a specific length of time. When you have money that you don’t need to spend right away, you can put the funds in a CD for safekeeping and interest earnings....

What Is a Balance Sheet for a Small Business? A balance sheet is a business statement that shows what the business owns, what it owes, and the value of the owner’s investment in the business. It’s calculated at specific points in time, such as when your business is in the startup phase then at the end of each month, quarter, year, and at the end of the business. What Are the Parts of a Balance Sheet?...

An updated income statement helps owners understand and analyze the business’s profits and losses. The statement is a living document that shows whether a company is successful, and how to prepare an income statement can be simple once you know the essentials. What Is an Income Statement? An income statement is a document showcasing and analyzing the profits and losses of your business. Also known as a “profit and loss statement” or “statement of earnings,” it includes items such as: RevenueCost of goods soldExpenses Taxes...

Why Are So Many in the Sandwich Generation? Why are the numbers so high? Credit a perfect storm of several factors. For starters, people are living longer, often with insufficient funds to manage retirement and healthcare needs. A Pew study from 2015 found that 28% of Americans had provided financial help to a parent 65 or older. That’s a result of both the increasing length of retirement and the increasing cost of healthcare—Fidelity Investments projected that a 65-year-old couple retiring in 2021 would spend an average of $300,000 on healthcare over the rest of their lives....

How To Decide If You Should Say No to Your Boss There are some valid reasons for turning down an assignment, but your boss may consider other reasons to be poor excuses. Ask yourself the following questions before you take action. Are you already working on several high-priority assignments that leave no time for this one?Does this project have a higher priority than your others?Can you delegate some of your work to subordinates or coworkers?...

ljubaphoto / Getty Images Many of the logistics depend on your state of residence and your insurance company, so splitting policies will look different depending on the people involved. In this article, learn key details you need to know for how to separate a car insurance policy in a divorce. Deciding To Separate Car Insurance Policies When starting the divorce process, you likely will have to make several decisions on how to separate your assets....

As with all investment strategies and financial plans, there are many ways to be successful. You just need to find one or two strategies that work for you, and stay with them. Here are 10 ways to time the market with mutual funds: 1. Identify and Overcome Your Worst Enemy To paraphrase legendary investor, Ben Graham, the investor’s worst enemy is often themselves. Perhaps the biggest mistake an investor can make is to become blinded by damaging emotions, such as fear, greed, anxiety, and desire for control, all of which can be minimized or neutralized by the virtues of humility and patience....

If you have plans to retire one day, this method can help you choose a range of assets that will mature at different times, and provide payouts to fund your cost of living at all stages, for the duration of your retirement. How Does Time Segmentation Work? To best explain how time segmentation works, let’s look at an example of this method in action. Assume Harold and Sally are both age 60....

A resume profile is a brief summary of an applicant’s skills, experiences, and goals as they relate to a specific job opening. On the other hand, a resume objective simply states the type of position that the applicant is seeking. Essentially, a profile is a very condensed version of a cover letter. Without restating your entire resume, it matches your qualifications to the job requirements. The intention is to show the hiring manager quickly and convincingly that you are the best person for the job....