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Filing too soon or delaying bankruptcy filing can both lead to undesirable outcomes. For instance, certain income taxes can be discharged only if they are at least three years old. Calculating that three-year period can be a challenge, but filing too early can be disastrous if you’re stuck owing taxes that with a little planning (and patience) could have been discharged in a bankruptcy case. There are equally valid reasons for filing immediately, even if you must forgo the benefit of discharging certain debts, like taxes....

One way to help write a strong recommendation letter is to look at recommendation letter examples. Below is advice on how to write a strong, positive letter of recommendation for employment, plus a number of letter examples for different situations. Tips for Writing a Letter of Recommendation for Employment Think Carefully Before Saying Yes. Make sure you feel comfortable writing a positive recommendation for this person before agreeing to write a letter....

Some employers require references when considering candidates for a position, while others may give preference to potential employees who can provide this evidence of satisfactory performance in a previous role. If you are asked to write a reference letter, keep in mind that your goal is to prove that the person is a strong candidate for the job. The letter should also be professional in appearance, and be written in business letter format and edited well....

Once the debt collector has been assigned or the account sold, part of their practice is to list the account on your credit report showing that you have an outstanding debt. Because it indicates severe delinquency, having a debt collection on your credit report hurts your credit score. Even though a collection will affect your credit less as it gets older, the entry will remain on your credit report for seven years for future creditors and lenders to see and scrutinize....

If you’re thinking about changes to your home or buying one to fix up or flip, it can be helpful to know which one your project is so you can estimate the scope and cost. What’s the Difference Between Renovation and Remodeling? On the other hand, remodels include changes to a home’s structure or layout. They function to transform a home rather than update one or two rooms. They often involve changing the use of space (or many spaces at once)....

Here’s a quick look at the most significant economic indicators of the day and what they tell us. Retail Sales Retail and food service sales fell in May for the first time this year, as inflation and weaker confidence caught up with the average consumer’s spending habits, according to the Census Bureau. Sales—which aren’t adjusted to remove the impact of inflation—dropped to $672.87 billion, as consumers cut back, especially on large purchases such as cars, electronics, and appliances....

Have a Plan When it comes to trading, it may not be the best idea to just jump right in. It’s important to take some time to outline what you want to accomplish and establish a set of rules that will allow you to achieve good returns and manage risk. Your plan should include rules on when to buy investments and when to sell. It should also outline how much cash you want on hand at all times....

Even if the organization isn’t hiring, you might be able to capture someone’s attention for future reference if you submit a well-written inquiry letter. Knowing what to say—and what not to say—in the letter can be critical to your success. What to Include in an Inquiry Letter The bottom line is that an inquiry letter is a sales pitch. You must sell your expertise to the reader and get them thinking about the possibility of hiring you....

Sections of a Commercial Real Estate Leases Here are the common sections of commercial leases, and a brief explanation of these sections. Parties The parties are the official names of the tenant and landlord. Make sure your business is the party described in the lease, not you personally. If something goes wrong, you don’t want to be personally liable. You may be required to give a personal guarantee for the lease, but the documents can still be in the business name....

Sincerely, Budgeting for Baby Dear Budgeting, This is such an exciting time—congratulations on this next step as you consider parenthood. As you’ve already figured out, becoming a parent is not cheap, and you could face some pretty big bills, even before your child arrives. So should you switch health insurance to lower your medical costs? Maybe. It really depends on the health insurance you and your partner each have and which will provide you the most comprehensive benefits, at the lowest cost....

Your plan custodian or administrator would almost certainly advise against it. That’s because the IRS considers retitling a plan the same as a 100% withdrawal for tax purposes. How Do Living Trusts Work? A living trust is a legal entity set up to hold property for eventual distribution to your beneficiaries. You can create one during your lifetime; it can be either revocable or irrevocable. In either case, you would transfer ownership of your assets into the trust’s name after it’s created, which more or less makes your trust the new, current owner of the assets....

One of the decisions you’ll need to make is what kind of construction loan you should use to pay for your project: a one-time close loan or multiple loans? Your Options Construction loans are intended for buying land and building or improving structures. They typically last only as long as it takes to build the home—about a year or less. Therefore, once construction is done, you’ll need a way to transition to a longer-term loan, especially if you want the lower payments that would come with a 30-year mortgage....

Learn more about these forms, and what information you may be required to supply when you fill one out. What Is a Small Business Loan Application? If you are planning to start your own small business, or already own one, it’s likely that you’ll need to raise capital for additional cash flow at some point. A common way of doing this is to secure a business loan from a bank, the government, or other lending institution....

Investors are bracing for the Federal Reserve to combat today’s red-hot inflation by pulling back on, or tightening, the easy-money policies that have supported markets and the economy throughout the pandemic. At the close of regular trading Friday, the S&P was down 8.3% from a record high just reached on Jan. 3, while the Nasdaq had fallen 14% from its November peak, putting it firmly in correction territory. “It’s pretty crazy....

Purpose of the Cover Letter A well-written cover letter should always accompany your email application because this is the “introduction” that will allow your personality to shine and help you to rise above your competition. Of course, you want to write a cover letter that is going to grab a hiring manager’s attention. You want to convey why you are the best applicant for the position and make yourself stand out in a positive way....

Spreads are measured in pips. For most currencies, a pip is the fourth place after the decimal point, or 1/100 of a percent. (For trades involving the Japanese yen, a pip is the second place after the decimal point, or 1 percent.) In a forex trade, if the bid price was 1.3244 and the ask price was 1.3246, the spread for the transaction was 2 pips. Brokers may also charge a commission, either a flat fee or one based on a percentage of the amount of the transaction....

You always want to dress to make the best impression, but the outfit you choose depends on whether you’re interviewing at a company with a formal dress code, at a casual startup, or for an informal summer job or internship. If you wear a suit to an interview for a camp counselor, or a T-shirt to an interview at a bank, it’ll send the message that you don’t truly understand what’s involved in the role....

As you can see, a substantial portion of your life will be spent pursuing your career so you certainly do not want to underestimate the importance of selecting a career that is a good fit for you. In making this personal decision there are a few key things to consider. To increase your chances of finding a satisfying career, it is suggested that you follow the four commonly used steps below:...

Your career network should be in place for when you need it, both for job searching and for moving up the career ladder. Since you never know when you might need it, it makes sense to have an active career network. The Purpose of Career Networking Career networking involves using personal, professional, academic, or family contacts to assist with a job search, achieve career goals, learn more about your field, or another field you’d like to work in....

You might not receive a full federal tax deduction for the value of your mutual funds. Some of these gifts to charities are deductible in full, while others are limited. There are a few common reasons why the tax deduction of charitable gifts of mutual funds might be less than 100%. Holding Periods Affect Your Tax Deduction Your tax deduction will be limited to the amount you invested in the fund if you give away appreciated shares to a qualifying charity and you held the shares for 12 months or less....