What Is Repossession? In repossession, a bank or leasing company takes a vehicle away from a borrower who is behind on payments, often without warning. Lenders might send a driver to collect the car, or they may take it away with a tow truck. In some cases, lenders can disable your car by remote control so you can’t drive it until you clear things up. Borrowers typically receive notification that they’re behind on payments, and lenders must inform borrowers about the consequences....

Tax-deferred retirement accounts such as a 401(k) or IRA are inherently tax efficient since you won’t pay taxes until you begin to withdraw funds in retirement. However, if you have a brokerage account or invest in mutual funds, stocks, and bonds that are not inside a retirement account, you could be on the hook for a major tax bill. That’s where tax-managed funds come in. What Are Tax-Managed Funds? Tax-managed funds are specifically designed to reduce taxes on your investments....

Melanie Acevedo / Getty Images “Domestic abuse is about power and control, and financial matters hold so much power in our lives,” said Ruth Glenn, president and CEO of the National Coalition Against Domestic Violence. Financial hardship and unemployment can contribute to domestic violence, and economic abuse tactics can leave victims without resources to safely leave. Learning more about domestic violence and financial abuse can help you recognize the signs and understand your situation....

If the plan doesn’t work in a demo account, it won’t work in the real world. Revise the trading plan, and then go back to the demo account to test out the changes. This process continues until a profit has been made for several months in a row. At that point, it is likely that the trading plan is a good one. The following tips will help you get your trading plan to that point....

For investors who think the stock market is poised to fall, there are ways to profit from betting against the market. This gives investors an opportunity to profit from both up and down markets. This article will cover some of the most basic ways to bet against the market. There are many methods to profit in a downward market, but these are some of the easiest ways to get started....

Learn more about why a safety net is important and how to build one. What Is a Financial Safety Net? A financial safety net is not one savings account or an insurance policy. Rather, it is a comprehensive portfolio of measures that help you reduce risk. A financial safety net is meant to protect you and your family, at least in part, from losing your financial security or derailing your long-term financial goals....

Companies must examine the cost of preferred stock, or any source of funds because it represents the cost of raising money. For example, a bank loan might cost 9 percent interest, while borrowing money in the form of bonds sold to investors could cost 5 percent. Raising money by selling preferred stock could cost the company 10 percent, paid in the form of dividends to shareholders. Various factors drive the actual cost of preferred stock....

To choose the right deductible for you, you’ll need to consider your driving history, your emergency fund, and the costs of different deductibles, along with several other factors. Here’s what you need to know about your options. What Is Your Insurance Deductible? Your insurance deductible is the amount you’ll pay out of pocket when you make a claim before your insurer picks up the rest of the bill. Choosing your deductible allows you to decide how much financial responsibility you want for claims and repairs....

Contributions to Roth IRAs are not tax-deductible, but you can make withdrawals in retirement without taxation, including on any profit you made. Contributing to a Roth IRA can build an emergency fund or create a primary retirement savings vehicle. Let’s learn how to fund a Roth IRA, how to contribute to someone else’s account, and how to determine if you qualify for these accounts based on your income. How To Qualify for Roth IRA Contributions Unlike traditional IRA accounts, Roth IRA contributions are not tax-deductible, and to qualify, you must meet specific criteria....

Better yet, if you don’t really need to run your business from commercial premises. why not operate from your home or go mobile? As an example, many of the tech repair businesses have given up attempting to compete with big box stores selling computer equipment and now operate mobile tech services that provide in-home computer sales, repair, and tutoring. Trades such as plumbing and electrical and services such as bookkeeping are ideal home-based/mobile business candidates....

This is where a financial planner comes in. Hiring a certified professional can help you better reach your financial goals throughout your life. But it can be tough to find the right financial planner for your needs. Follow these five steps to find the best financial planner for you. Write Down Your Financial Goals Before you meet with a financial planner, you need to determine what you want to accomplish in terms of long and short-term goals....

Given the limited resources for hiring new staff and the costs associated with bringing in new employees, employers are extra careful when it comes to hiring. This has translated into adding more layers to the screening process, including the inclusion of more staff in the interview process. Here’s what to do if you haven’t been advised about who you’ll be meeting during your interview. Who Conducts Job Interviews It’s always a good idea to make an effort to learn who will be included in the interview process so you can anticipate the concerns of those interviewing you and prepare accordingly....

Commercial Banks, Small Banks, or Credit Unions? Commercial banks are often the first choice for nonprofits, mainly because of their presence and overall visibility. These banks often have accounts created specifically for nonprofits and can offer exceptional amenities. Because they have a national presence, there are few things these commercial banks don’t deliver in all 50 states. Smaller banks could be a great option for nonprofits who want to support the community in which they reside....

A seller’s permit may also be called a “resale permit, resell permit, permit license, reseller permit, reseller number, resale ID, state tax ID number, reseller license permit,” or certificate of authority, depending on your state. Seller’s Permit vs Resale or Wholesale Certificate A seller’s permit and a resale certificate are two different things. Businesses often buy products or materials for resale purposes. For example, a retail business may buy snacks from a wholesaler to sell in their store....

Sweden has a highly competitive capitalist economy with a universal welfare system known as the “Nordic Model.” With its diverse and high-tech economy, global investors like the country’s stability. The country remained stable during the tech bubble of 2001, the global economic crisis of 2008, and other money crises. Sweden’s Robust and Growing Economy Sweden’s economy evolved from farming to industry during the 19th century. By the 1930s, the country had one of the highest standards of living in the world....

Municipal bonds, also known as munis, usually pay interest twice per year for a specific period of time, or term. At the end of the term, the investor receives the original face value of the bond. Municipal bonds can be purchased individually or as part of a mutual fund or ETF. Learn how to invest in municipal bonds and more about their pros and cons so you can determine how they may fit into your portfolio....

What Is a Home Inventory List? A home inventory list is a list of the items or personal belongings you have in your home. The list can be categorized by room, type of item, collection, or other relevant criteria. A home inventory list should include as much of the following information for the items as possible: Description of the itemMake, model, or serial number if applicableAppraisals or cost at the time of purchaseWhere the item was purchasedDate of purchase Receipts or photos in an attachment, if relevantEstimated replacement cost if you were to buy today...

Paying Both Self-Employment Taxes and FICA Taxes If you are self-employed and you also earn wages or salary from employment, your Social Security and Medicare eligibility and total self-employment tax is affected. You are self-employed if you are making money in your own business, as an independent contractor, freelancer, sole proprietor, partner in a partnership, or member of an LLC or an S corporation. If you own a corporation, you are not self-employed....

The terms that describe the people and companies that earn a living helping job seekers find jobs can be confusing. To make matters worse, some of the companies and specialists who offer these services use terms interchangeably. But the most important things to know about employment specialists are: Who are they working for, you or the company? Who pays them (again, you or the employer)?How can they help you in ways that other individuals or services can’t?...

If you are starting a corporation you will need to select a board. Your board members will help you make decisions and also satisfy the requirements of the state in which you are incorporating. Here are some things to think about before you select board members. How Many Board Members Should There Be? First, select an uneven number of board members, to avoid ties. The number of board members depends on the size and complexity of the organization....