Take heart. A mistake won’t result in a full-fledged audit in most cases, although it can hold up your refund until things get straightened out. That notice might signal trouble, however, if you claimed tax deductions or tax credits that you weren’t actually eligible to claim. As unpleasant as preparing your tax return can be, you’re invariably better off taking the time to avoid mistakes. Check your return against this list of common errors this tax year before you send it off to the IRS....

Why Invest in the Euro? Currencies are not considered viable long-term investments. This is because they don’t usually trend up over time as equities or bonds do. But if you’re looking to diversify your portfolio abroad, you may want to look into foreign equities or bonds. These options offer much greater long-term upside potential. They are backed by real businesses rather than just a means of transaction. Investors may, however, be interested in purchasing currency to hedge out currency risk or place bets on a currency’s rise or fall....

Accurately calculating your company’s manufacturing overhead costs is important for budgeting. Including only direct or “operational” expenses in your financial plan can leave the company in a major cash crunch, as every business in every industry has to incur some overhead costs. Calculating these beforehand can help you plan better and reduce unexpected expenses. In this article, we will discuss how to calculate manufacturing overhead and why it matters....

Operating cash flow, represented on the cash flow statement, refers to the income that flows in and out of a business due to its operational income and expenses. Learn how operating cash flow works, how it is used, and how you can calculate taxes from it. How Do You Use Cash Flow Information? Cash flow refers to the way in which money flows into and out of a business, and operating cash flow is cash flow that is connected with operating activities....

Profitability ratios show a company’s overall efficiency and performance. These ratios can be divided into two types: margins and returns. Ratios that show margins represent the firm’s ability to translate sales dollars into profits at various stages of measurement. Ratios that show returns represent the firm’s ability to measure the overall efficiency of the firm in generating returns for its shareholders. Levered free cash flow is the “free” cash flow that’s left after a business has met its financial obligations on any accrued debt....

Correctly Placing a Stop-Loss A good stop-loss strategy involves placing your stop-loss at a location where, if hit, you would know that you were wrong about the direction of the market. You probably won’t have the luck of perfectly timing all your trades. As much as you’d like it to, the price won’t always shoot up right after you buy a stock. Therefore, when you buy, give the trade a bit of room to move before it starts to go up....

kate_sept2004 / Getty Images Steps in the Payroll Process The payroll process includes three basic steps: Before You Hire and Pay Employees You’ll need to make some decisions on paying employees in order to write paychecks. How often will you pay? What about paid time off? Will you pay overtime? Find out about all the federal, state, and local employment laws, because they affect the amount you pay employees and check with an employment attorney to make sure you are following all the laws....

“And” means that everybody named on the check must sign. “Or” usually allows only one of the payees to sign. ‘And’ Checks Can Be Tricky Banks have to verify the identity of everyone who signs the back of a check, “endorsing” it so it can be cashed or deposited. There’s hardly any risk if a check is made payable to two parties and you’re depositing the funds into an account that bears the same two names, but there’s a risk that one person will forge the other’s signature and run off with the money if somebody wants to cash the check....

First, you must accurately estimate the annual rent you may receive, as well as the expenses you’ll incur. Expenses can include real estate taxes, insurance, maintenance, and repairs, as well as legal fees if an eviction is required, advertising costs to get tenants, and repair costs if a tenant damages the property. Do the Math: An Example of a Condo Investment Let’s look at an example: You find a condo selling for $55,000, and you can pay cash....

But it’s no secret that real estate can be expensive, and many people can’t afford to buy investment properties out of pocket. Luckily, there are plenty of ways to finance an investment property, including utilizing traditional lending and assets you already own. What Is an Investment Property? An investment property is a piece of real estate purchased to provide a return on investment or a source of income for the buyer....

For a more efficient, productive process, you’ll want to narrow down your job search criteria to highlight jobs near you—or in the locations where you’re interested in finding work. Here’s how to get started. Use Local Job Search Resources First, use local search resources. Sounds simple, doesn’t it? But many job seekers get so focused on 21st-century job-search methods that they forget about the old-fashioned ones. Start close to home, and look for resources in your city or town, such as the following: Chamber of Commerce website: Look at the Chamber of Commerce website in your area....

Leasing a car provides a way to have low monthly payments, and it comes with the peace of mind that you’ll have a premium warranty. You never have to deal with the hassle of selling your car, and it’s very convenient if you aren’t staying in the same city for more than a couple of years. It’s also a great way always to drive the latest models of your favorite vehicles....

But what if you lose status at work and don’t deserve it? If you’ve been wrongfully demoted, you may be wondering what you can do about it. Unfortunately, your options for handling a wrongful demotion may be limited. Here’s what you need to know. When Can Employees Be Demoted? Most workers in the U.S. are employed at will. It means that your employer can discharge you or demote you for any reason other than discrimination or whistleblowing....

IRS Rules for Divorce You’re technically still married under IRS rules if your divorce isn’t final by the last day of the tax year, Dec. 31. This is true even if you or your spouse filed for divorce during that year. You’re also still married, according to the tax code, unless a court order states that you’re divorced or legally separated. You’re no longer married if you’re separated by court order on or before Dec....

Here’s what to know about paying taxes on unemployment benefits in tax year 2022, the return you’ll file in 2023. What Are Unemployment Benefits? The term unemployment benefits includes many types of unemployment compensation and unemployment income. It includes unemployment insurance benefits paid to you by your state, disability benefits paid in lieu of unemployment compensation, and railroad unemployment compensation benefits. It also includes any payments made to you by the Federal Unemployment Trust Fund and Federal Pandemic Unemployment Compensation....

If you’re seeking a more traditional job format but still want to work from home, you’re in luck. Remote job postings—which doubled for some online recruitment sites during the pandemic—continue to rise. Regarding the remote positions available, tech jobs are among the most prevalent, but work-from-home opportunities have also risen in therapy, finance, and law. Where to begin when searching for remote work? “I’d encourage the job seeker to start by reflecting on their interests and career goals,” Indeed Senior Career Coach Jamie Birt told The Balance in an email....

While there are a few steps involved in opening a business account, the application process is usually straightforward and you can open an account in a matter of minutes (although it may take several business days to receive debit and credit cards and checks). Some major financial institutions, like Bank of America, let you apply and submit your documents online. Choosing a bank that allows for an online application can speed up the process and help you open a business bank account as soon as you need it....

Your boss takes credit for your work, never provides positive feedback, and misses each meeting that was scheduled with you. Or your boss caves immediately under pressure and fails to support you in accomplishing your job. Your bad boss never recognizes your excellent performance nor that of any other employee, so the office is joyless and unhappy. Your Bad Boss May Be Unaware He or She Is Bad Start your campaign by understanding that your boss may not know that he or she is a bad boss....

That’s because stock prices may fall during a recession. According to data published by Schroders, a global investment manager, the widely watched S&P 500 stock index has dropped an average of 6.4% during U.S. recessions since 1929. In fact, during the Great Depression, S&P returns plummeted more than 80% and in the Great Recession, they fell more than 37% (though if you exclude those periods, the index actually crept up an average of 1....

Most retailers have sales periodically, but some sales are predictable. For example, summer clothes tend to go on sale by August to make room for fall items. Black Friday through Cyber Monday tends to be a good time to buy electronics. Install a smart thermostat and set it to run less when no one is homeTurn off lights when they aren’t in useWash your laundry in cold waterTurn down the temperature on your hot water heaterOnly buy ​Energy Star appliances...