You, as the owner of your business, have the task of determining the right amount to invest in each of your asset accounts. You do that by comparing your firm to other companies in your industry and see how much they have invested in asset accounts. You also keep track of how much you have invested in your asset accounts from year to year and see what works. Inventory Turnover Ratio The inventory turnover ratio is one of the most important asset management or turnover ratios....

What Does Portability of the Estate Tax Exemption Mean? Portability of the estate tax exemption means that if one spouse dies and does not make full use of his or her $5,000,000 (in 2011, or $5,120,000 in 2012, $5,250,000 in 2013, $5,340,000 in 2014, and $5,430,000 in 2015) federal estate tax exemption, then the surviving spouse can make an election to pick up the unused exemption and add it to the surviving spouse’s own exemption....

What Is the Elimination Period? The elimination period is the time between when coverage begins and the insurance company will begin paying benefits. Elimination periods vary, but are commonly 30 to 180 days, though some may be longer. It is a term commonly used in disability and long-term care insurance. The elimination period is important to you because during this period, you are responsible for the cost of any medical services you receive....

It pays to learn as much as you can about these benefits before you move on to something new. In many cases, it’s harder to learn about your rights when you’ve already turned in your lanyard or equipment and lost your face-to-face access to human resources. Here’s what you need to know about eligibility for employee benefits when you leave a job. Employee Benefits When You Leave a Job Learn more about unemployment insurance, severance packages, giving notice, health insurance, retirement plans, workers’ compensation, disability, references, and other potential benefits, so that you know what to ask before you go....

In December, the Federal Housing Finance Agency (FHFA) levied a 0.5% fee on those refinancing mortgages backed by Fannie Mae or Freddie Mac if the loans were for more than $125,000. The fee was intended to help Fannie and Freddie cover what they estimated could be $6 billion in losses stemming from pandemic-related homeowner relief. The government earlier had placed a moratorium on foreclosures on federally backed mortgages and offered most homeowners the option to suspend their mortgage payments....

Estimates on how much money will be removed from total household income vary, with some economists saying it will be $4.2 billion weekly, at least initially. The cutoff is bound to hit some people more than others in an economy where employment levels are growing, but were still 5.7 million jobs short of pre-pandemic levels as of July. “There are millions of people unemployed right now and relying on that income,” said Shannon Seery, an economist at Wells Fargo Securities....

Kathrin Ziegler / Getty Images A majority of single people (67%), new employees (64%), frontline workers (61%), Gen Z workers (60%), working moms (56%), and married people (54%) said they are struggling or merely surviving in their jobs, according to a survey of over 30,000 full-time and self-employed workers as part of the 2021 Work Trend Index released by Microsoft Monday. Just more than half (54%) said they feel overworked, while 39% said they’re exhausted, and 20% said their employer doesn’t care about their work-life balance....

In an advisory opinion issued last week, the Consumer Financial Protection Board (CFPB) said that unless the original loan agreement or the law specifically authorizes the fees, they are in violation of the federal Fair Debt Collection Practices Act. The bureau said some debt collectors charge extra for payments made online or by phone, even if it’s cheaper and less time-consuming for them to process such payments. “Today’s advisory opinion shows that these fees are often illegal, and provides a roadmap on the fees that a debt collector can lawfully collect,” CFPB Director Rohit Chopra said in a statement....

There are seven main savings goals in particular that you should strive for in your 20s. Build an Emergency Fund One of the most important financial tasks you can accomplish in your 20s is opening an emergency fund, which is a pool of money that you earmark for unplanned expenses. When unexpected life events occur, the fund acts as an insurance policy for your finances. For example, if you have a medical emergency, sudden job loss, or appliance breakdown, you can pay for it using money in your emergency fund....

Originally, First Chicago Insurance was a mutual company but converted to a stock company in 2006. The corporate headquarters is located in Bedford Park, Illinois. First Chicago Insurance has a partnership with insurance comparison website, Compare.com. Over the course of its 100-year history, only five presidents have headed the company. The current president is Michael Rosenstein. Financial Strength Ratings First Chicago Insurance received an upgraded “B” rating from insurance rating organization AM Best....

Typical eligibility criteria require that you must not have owned property before (or in the three years prior to applying), you must use the home as your primary residence, and you must meet income and credit score requirements. To help you find the right fit for your needs, we’ll cover the major first-time homebuyer programs in every state. Alabama Step Up The Step Up homeownership program provides assistance of 4% of the sales price (capped at $10,000) on Federal Housing Administration (FHA) loans, Department of Veterans Affairs (VA) loans, and conventional loans approved by the state housing finance authority (HFA)....

Learn more about functional resumes and how to develop one. What Is a Functional Resume? A functional resume showcases an applicant’s skills. It may start with a summary of qualifications followed by a list of a candidate’s skills and examples of using those skills. For example, you might list “Leadership” as a skill, then follow that with examples of when you’ve shown leadership. For example, you might say, “Managed the sales department of five staff members....

However, problems do sometimes arise. Your bank may put a hold on the money, and you can’t withdraw cash or spend it as quickly as you hoped. Your bank’s funds availability policy, along with federal regulations, spells out exactly how long everything is supposed to take. Funds Availability A bank’s “funds availability policy disclosure” explains how long you need to wait to spend or withdraw funds after you make a deposit....

To avoid default, the EU loaned Greece enough to continue making payments. It was the biggest financial rescue of a bankrupt country in history. As of January 2019, Greece has only repaid 41.6 billion euros. It has scheduled debt payments beyond 2060. In return for the loan, the EU required Greece to adopt austerity measures. These reforms were intended to strengthen the Greek government and financial structures. They did that, but they also mired Greece in a recession that didn’t end until 2017....

Once you understand these and other basics, you can decide if hedge funds or mutual funds are best for your personal investment objectives. Learn more about the differences and decide which is right for you. What’s the Difference Between Hedge Funds and Mutual Funds? Mutual funds, on the other hand, can be actively managed or passively managed. If it is the latter, the mutual fund manager does not use discretion in security selection or the timing of trades; they simply match the holdings with that of a benchmark index, such as the S&P 500....

This tax break is the Section 121 Exclusion, more commonly referred to as the “home sale exclusion.” Learn more about how it works and how you can benefit. How Does the Home Sale Exclusion Work? Your capital gain—or loss—is the difference between the sales price and your basis in the property, which is what you paid for it plus certain qualifying costs. You would have a gain of $200,000 if you purchased your home for $150,000 and you were to sell it for $350,000....

The force of a tornado can level an entire town, leaving homes and businesses in piles of rubble. You can take certain steps to keep your family safe during a tornado, but the best way to protect your home is by buying a homeowners insurance policy with sufficient coverage. The second-best way is to understand what’s in your policy and how it works. Standard home insurance provides good protection for tornadoes, but you may need to adjust certain coverage limits for maximum protection....

One of these taxes is a franchise tax. Learn what it is, which states have it, and how it affects your business. What is a Franchise Tax? A franchise tax is charged by a state to businesses for the privilege of incorporating or doing business in that state. Franchise taxes, like income taxes, are usually imposed annually. Failure to pay franchise taxes can result in a business becoming disqualified from doing business in a state....

It’s important for those who are used to living on two incomes to do some prep work in advance of making this kind of major financial transition. Here are four tips for making the transition seamless. Try Living on One Income Before You Quit Your Job Take one-income living for a test drive if you’re not sure you’ll be able to live comfortably on just one. Direct-deposit one partner’s income into a separate savings account and don’t touch that money even for emergencies....

How Does Life Insurance Work? A life insurance policy pays out a death benefit when an insured person dies. To secure coverage for yourself (or someone else), you purchase a policy and pay premiums to an insurance company. When setting up a policy, the policy owner names one or more beneficiaries who receive the death benefit. That money is often free from federal income taxes. Life insurance comes in several forms....