In an open letter to the Biden administration, 12 groups, including the National Association of Realtors, the National Association of Home Builders, and the National Apartment Association, pointed to success in fighting the pandemic with vaccinations, progress in re-opening the economy, and the availability of government rental assistance as reasons to let the moratorium finally end. The ban doesn’t preclude landlords from filing for evictions in court, but does forbid them from physically removing tenants suffering financial hardship because of the pandemic....

When a small business makes a financial transaction, the bookkeepers need to make an entry in their accounting journal to record the transaction. Often, the transaction is recorded in the general journal or, for the most active accounts, in a special journal. Here are the steps for handling a double-entry bookkeeping journal entry when selling a product or service for cash while offering a discount on the sale. Example of a Discount Sale Imagine you are the bookkeeper for XYZ Clothing Store....

The Power of Compounding Let’s take a look at why this is so. Say an investor buys 1,000 shares of a bond mutual fund with a share price of $10 and a yield of 4%. For the sake of clarity, we’ll assume that the fund’s share price and yield don’t change. The investor receives $400 a year in income from the fund, or $33.33 each month. If the investor chooses to take the income in the form of a check each month, they will have that $33....

Here are some factors to consider to help you figure out if the potential profits of REITs merit the risks taken. What Is a REIT? REITs are firms whose sole purpose is to own and operate real estate properties. Some invest in commercial property such as parking lots or office buildings. Others invest in residential property like apartment buildings or houses. By law, REITs must pass on 90% of their profits in the form of dividends....

You may not want to share the details, especially if they aren’t related to your career, and you’re not obligated to. How much you choose to disclose is up to you. No matter why you’re resigning, it’s important that you write a formal resignation letter to your employer and that you give appropriate notice, whenever possible. Tips for Writing a Resignation Letter for Personal Reasons Below, you’ll find some tips for writing a resignation letter for when you’re resigning for personal reasons, as well as two resignation letter samples....

Employers—including self-employed people—establish and fund SEP IRAs, while individuals shoulder the burden of making Roth IRA contributions. The Internal Revenue Service (IRS) caps annual IRA contributions, and offers much higher limits on SEP IRAs than for Roth IRAs. Which type of IRA is right for you? What’s the Difference Between a Roth IRA and a SEP IRA? SEP IRAs are only available to employees aged 21 and older, who have worked for the employer for at least three of the past five years and earned at least $650 in the previous or current year....

In this article, we’ll explore the pros and cons of this rule, how to use it, and consider alternatives to this simplified approach. What Is the Rule of Thumb for How Much Life Insurance I Need? A popular rule of thumb for life insurance says that you should have one or more life insurance policies with a total death benefit equal to roughly 10 times your annual salary (before taxes and other paycheck deductions)....

But that’s not the only factor you should consider. We’ll cover the pros and cons of the 1% rule of thumb for refinancing, provide several examples, and explain another mortgage rule of thumb to help you weigh your options. How Does the Refinancing Rule of Thumb Work? The 1% refinancing rule of thumb says that you should consider refinancing your home when you can get an interest rate that is at least one percentage point lower than your current rate....

What’s the best way to follow-up? If you choose to send a follow-up, you’ll need to walk a fine line. While you want to remind the hiring manager of your interest and qualifications, you do not want that person to feel hounded. Get tips on how to send a follow-up letter that strikes that perfect balance below, plus review a sample note and template to help you write your own persuasive message....

Is it better to pay off debt or save? Most people need to do both, but we’ll explore factors to consider when deciding which is more important. What Is the Rule of Thumb About Emergency Savings vs. Debt Payoff? The general rule of thumb is to do both: Pay off debt while building your emergency savings. “Saving at the expense of accelerating debt repayment ignores the importance of commitment to do both now,” he said....

Learn more about what car insurance discounts are, and the many ways that you can reduce your costs. What Are Car Insurance Discounts? Most auto insurance companies offer a full lineup of discounts that reward their policyholders for factors that lower the costs of providing them with coverage. For example, your insurer might offer you a discount if you have a clean driving record or if you have a newer-model car that comes with anti-theft protections built in....

“Property values have grown over time,” notes National Association of Realtors economist Lawrence Yun. “That price appreciation can provide equity for trade-up purchases” later in life. Even so, buying a home and continuing to rent may not necessarily be the right move for you. Before adopting this strategy, you should consider if the value exceeds the cost of a second home and if it is affordable. Weigh the pros and cons to determine if buying a second home is a sound investment....

A solid, well-researched business plan provides a practical overview of your vision. It can be used to ground your ideas into workable actions and to help pitch your idea to financial institutions or potential investors when looking for funding. The standard business plan consists of a single document divided into several sections for distinct elements, such as a description of the organization, market research, competitive analysis, sales strategies, capital and labor requirements, and financial data....

10'000 Hours / Getty Images How States Tax Social Security Income Here’s a state-by-state breakdown. And below that, you’ll find more information on the states that tax Social Security benefits. Colorado Colorado’s pension-subtraction system exempts up to $24,000 in pension and annuity income, including some Social Security benefits. The exemption is based on your age, starting at age 55. Connecticut Connecticut partially or fully exempts Social Security benefits, based on a person’s filing status and income....

If you save 10% of your income each year, the money will add up over time, and you will end up with savings that you can dip into when you need it. If you invest the money that you save, however, your money can create more money through earning interest or dividends. This is where you begin to accumulate true wealth. How Investing Builds Wealth Using the money you save to earn more money is the trick to building wealth....

Stock corporations are for-profit organizations that issue stock to shareholders to raise capital. What Are Stock Corporations? Stock corporations are for-profit organizations that issue shares of stock to shareholders (also known as stockholders) to raise capital, with each share representing partial ownership of the corporation and granting shareholders certain ownership rights that shape company policies. However, the corporation and its owners are generally treated as distinct legal entities. How Stock Corporations Work If you’re considering the incorporation of your business (that is, forming a corporate business entity), you have several decisions to make....

Learn more about talent assessments, how they work, and what kinds of questions they may include. What Are Talent Assessments? Talent assessments are used to help employers identify candidates that will be a good fit for employment at their company. Many large companies use pre-employment testing to assess whether the personality, work style, knowledge, or skills of candidates fit the job at hand or company culture. These tests help predict a new hire’s on-the-job performance; applicants who pass the screening test should perform better as employees if they’re hired....

Let’s learn more about financial risk, how to help your teen minimize their financial risk, and how to help them manage their emotions around financial decisions. What Is Financial Risk? Financial risk refers to the possibility of losing money. Risk can present itself in a variety of ways related to your finances, including in some ways your teen may not consider on their own. Financial Risk and Investing First, financial risk is a term often used in investing, which is when you use your money to buy assets that can potentially grow in value....

Learn more about how target audiences work and how they help businesses create effective marketing plans. What Is a Target Audience? A target audience is a group of people identified as being likely customers of a business. Target audiences share similar demographic traits including, but not limited to: AgeGenderLocationEducationSocioeconomic status Identifying your target audience as a business can help craft marketing strategies and define your core customers. Instead of spending money and resources trying to cater to every consumer, defining a target audience allows for more intentional and personal outreach to those most likely to purchase your product or service....

What Is an LLC? A limited liability company is a newer legal form of business than the older corporation or partnership forms. An LLC is formed through the state in which the company is doing business by filing Articles of Organization and paying a fee. How Does an LLC Pay Income Taxes? Because an LLC is fairly new, the IRS does not have a specific tax category for this business type, so they use the tax categories of other business types....