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These balances can be different, and this can be confusing if you’re trying to pay your balance in full to avoid paying finance charges. Which figure is accurate? Which one are you supposed to pay? That depends on your goal. What’s the Difference Between Statement Balance and Current Balance? Your statement balance is your credit card balance as of your account statement closing date: the date your billing cycle ended and your credit card statement was generated....

For many people, the potential for big rewards does not outweigh the risks. Be honest with yourself, and do not feel bad about walking away from the entire concept. In general, that is often the best choice, because most situations involving penny stocks result in many investors taking losses. The good news is that it is easy to avoid the catastrophic losses that some investors make in trading penny stocks....

What Is Form W-9? IRS Form W-9 is officially titled the “Request for Taxpayer Identification Number and Certification.” It records the tax ID numbers for workers who are not employees and it records the statement of the person completing the form swearing that: The taxpayer identification number is correct. This can be a Social Security number or the employer identification number (EIN) for a business. The taxpayer is not subject to backup withholding....

Some rules are specific, such as for the depreciation of rental properties, and specifically single-family, rent-ready rental homes or condos. They don’t apply to properties you intend to fix up and repair, then rent. A Simple Example of Straight-Line Depreciation If a certain property that cost $180,000 can be depreciated using a tax life of 27.5 years, you would divide $180,000 by 27.5 to yield a straight-line equal amount of $6,545 in depreciation each year....

Create the Right Investment Allocation The key to making it through a bear market without losing sleep comes from the construction of your portfolio. Your portfolio probably consists of a number of mutual funds, ETFs, stocks, and bonds. Together, this eclectic mix of investments is designed to achieve a certain goal. You may have a 401(k) plan to fund retirement or a 529 plan for your child’s education. Regardless, it’s important to ensure your investments are doing what you intended....

Cornerstone IRA Investment Decisions It may be necessary to direct your financial institution as to which assets in your IRA to sell, depending on how your IRA funds are invested. For example, if you own mutual funds or stocks and bonds in your IRA and are cashing in the entire IRA, then you would sell everything in the IRA. If you only need some of the money in your IRA, you may be asked to decide which mutual funds, stocks, or bonds to sell....

The concept of “tax home” has little meaning if your business location is the place where you work all the time, but it becomes important if you travel as part of your business or work in different locations. What Is a Tax Home? The IRS defines your tax home as your “regular place of business.“ It can include the entire city or a general area in which your business or work is located....

Gift Taxes The gift tax is probably the most ignored tax that can affect an estate. The federal tax code exempts up to $15,000 per year in gifts per person per year as of 2021. This is referred to as the annual exclusion from gift taxes, and it increases to $16,000 per person in 2022 because it’s adjusted periodically to keep pace with inflation. You’ll make a taxable gift when you give over $15,000 or $16,000 to the same person in that given year, and you’ll incur a gift tax....

Research indicates that starting financial education at a young age helps people develop better money management habits as adults. While a record number of parents reported having conversations about money with their kids once a week or more (47%) in 2021—partially in response to financial distress from the COVID-19 pandemic—starting those conversations may be challenging. For example, 82% of parents cited “fear” as a barrier to talking to their kids about finances, according to a 2019 survey by credit union BECU....

All software listed makes similar promises when it comes to accuracy and refunds, but it’s important to check the fine print to ensure that none of your personal details will end up triggering an unexpected charge. For example, some services only offer free tax services for people whose income falls below a set limit. Others only offer one free year of filing, so you’ll have to pay more or switch to another service if you used it last year....

Talking about money is taboo in our culture. As a result, many of us feel uneasy about salary negotiation. Research shows that one of the most common reasons for not negotiating salary is feeling uncomfortable asking for more money. Then, build a strategy that will help you achieve the best possible outcome. That doesn’t mean you’ll always get a “yes,” or that your boss will be able to give you the exact amount you request....

How Much Does It Cost to Paint a Car Yourself? The supplies to paint a car yourself can run from $100 to $1,500, depending on the materials needed. The biggest cost of painting a car yourself will likely be the headache that comes along with it. The pros often add several coats of primer, paint in your preferred color, and a topcoat to ensure a quality finish. Does that sound like something you have the time and energy to commit to?...

You’re opening up your home to complete strangers, who will scrutinize every aspect of your home, perhaps judge you on its cleanliness, decor, and presentation. Many real estate agents say requiring 24-hour notice might cost you a buyer. Types of Notices for Home Showing How you make your home available for showing might depend on your local custom. Rural and horse properties typically require more notice than an entry-level suburban home....

Here’s what you need to know if you’re considering writing off your sales tax costs on your federal tax returns. You Have To Itemize Your Deductions When you’re filing taxes, you can either claim the standard deduction or itemize your deductions—you can’t do both. If you want to claim sales taxes, you’ll have to itemize them on Schedule A of the federal Form 1040. This option isn’t always the best choice for everyone....

The Motor Carrier Coverage Form replaces the old ISO Truckers Coverage Form. The latter is no longer relevant as it contains outdated language. The Truckers form was developed at a time when the federal government imposed strict control over truckers’ rates and routes. The trucking industry was deregulated in 1980 by the passage of the Motor Carrier Act. Nowadays, trucking companies can choose their own routes and negotiate rates with customers....

These funds go by many names. You may see them called “stable value funds,” “fixed income funds,” “guaranteed investment contracts (GICs),” “capital preservation funds,” “principal protection funds,” “fixed interest funds,” “guaranteed funds,” or “stable interest funds.” No matter what name they’re under, these types of funds can be grouped under a category called stable value funds. What Are Stable Value Funds? Stable value funds are composed of investment contracts issued by banks and insurance companies....

During your interview, continue to hammer that message home. Here are six tips to help you have a successful career change interview. Play Up Similar Skills Here’s the good news about switching careers: It’s not a hard reset. You won’t need to work your way up from an entry-level position all over again. During your original career, you gained valuable experience and knowledge that you’ll bring to any new role....

What is Title VII of the Civil Rights Act of 1964 When Title VII of the Civil Rights Act of 1964 was passed, employment discrimination on the basis of an individual’s race, religion, sex, national origin or color became illegal. On June 15, 2020, the U.S. Supreme Court ruled that employment discrimination on the basis of sexual orientation and gender identity is also illegal. All companies with 15 or more employees are required to adhere to the rules set forth by Title VII, which protects workers as well as job applicants....

The average rate offered to homebuyers using a conventional 30-year fixed mortgage—the most popular type of home loan—surged to 3.83% from 3.74% the previous business day, reaching a new high since 2020. (Our daily mortgage rate data goes back to April 2021, but our data on yearly highs and lows dates back to 2020, so we know it was higher in March 2020, when it rose as high as 4....

The average rate offered to homebuyers using a conventional 30-year fixed mortgage leapt to 5.04% from 4.83% the previous business day, making the biggest daily jump in our records and reaching the highest point since at least 2019. (Our daily mortgage rate data only goes back to April 2021, but our data on yearly highs and lows dates back to 2020, so we know 5.04% was the highest it’s been since before 2020....