Navigating Medicare’s options, enrollment deadlines, and requirements can be confusing. However, it’s important to know when you need to apply for coverage—especially if you have other health insurance coverage—so you don’t get hit with costly penalties. Here’s how Medicare works, what to consider when you already have health insurance, and how to avoid penalties for late enrollment. How Medicare Works If You Have Private Insurance If you have private insurance, you may want to sign up for Parts A, B, D—and possibly a Medicare Advantage plan (Part C) and Medigap once you become eligible....

Before you jump on one of these deals, though, you should carefully count the costs. Balance transfers can affect your credit score—so make sure you know what you’re getting into. How Your Credit Score Is Calculated Transferring balances can have an impact on your credit score. There are five factors that affect your credit score, three of which are particularly relevent when it comes to balance transfers: How Balance Transfers Can Hurt Your Credit Score Credit card balance transfers can affect your credit score in the areas of level of debt, age of credit, and recent credit applications....

These days, you will likely conduct much of your job search via email. But employers receive thousands of emails a day, and often, whether or not an email gets opened depends entirely on its subject line. Campaign Monitor reports that one of the best ways to get your email message opened is to improve your subject line. That’s especially important when you’re emailing a resume to apply for a job....

The Income Tax Return for Estates and Trusts Estates and trusts that generate income during the year are subject to tax rates set by the federal government. They’re required to file IRS Form 1041, the U.S. Income Tax Return for Estates and Trusts. The tax brackets are adjusted each year for inflation, just as personal income tax brackets are. Form 1041 isn’t required if all income-producing assets pass directly to a beneficiary after death....

About the Fair Tax Plan A group known as Americans for Fair Taxation developed the Fair Tax plan. It would require the repeal of the 16th Amendment, and it would disband and defund the Internal Revenue Service (IRS). A 23% sales tax is regressive because it impacts the poor the most. To make it more progressive, the Fair Tax Act includes a provision that all Americans would receive a monthly “prebate" that would be equal to 23% of the monthly cost of living at the federal poverty level....

As widely expected, the Federal Reserve gave a second unusually large increase to its benchmark fed funds rate Wednesday as part of its ongoing campaign to bring rampant inflation under control. The three-quarters of a percentage point hike—triple what the Fed usually does when it raises interest rates—will boost the fed funds rate to a range of to 2.25% to 2.5%. Prior to the previous rate increase in June, the Fed hadn’t raised rates by this much since 1994....

“The near-term effects on the U.S. economy of the invasion of Ukraine, the ongoing war, the sanctions, and of events to come, remain highly uncertain,” Powell told the House Financial Services Committee. “Making appropriate monetary policy in this environment requires a recognition that the economy evolves in unexpected ways. We will need to be nimble in responding to incoming data and the evolving outlook.” Given how well the job market is recovering but also how high inflation is, the central bank must shift from economic stimulus mode to inflation-fighting mode, Powell said, reiterating what he and other Fed officials have said of late....

A financial accounting system is aimed at external decision-makers such as investors, regulators, and creditors, while a managerial accounting system is aimed at internal decision-makers such as managers. What’s the Difference Between Financial and Managerial Accounting? Managerial accounting focuses on operational reporting and looks to the future by using forecasting. These reports are shared internally within the company, typically with managers and senior employees. Managerial accounting reports are issued more frequently and follow no specific period....

How to request a leave of absence depends on your position and on company policy. Some companies have formal policies in place for employees to request a leave of absence from their job. Others accept informal requests. Your employer may have a form you need to complete to request a leave of absence, or you may be required to write a letter documenting your request. Here’s information on how to request a leave of absence, examples of written and email requests for a leave of absence, and tips on what to include when you ask for a leave from work....

Here’s how to calculate free cash flow, and why it matters to both businesses and investors. What Is Free Cash Flow? Free cash flow refers to how much money a business has left over after it has paid for everything it needs to continue operating—including buildings, equipment, payroll, taxes, and inventory. The company is free to use these funds as it sees fit. Businesses calculate free cash flow to guide key business decisions, such as whether to expand or invest in ways to reduce operating costs....

Knowing your number of FTEs is important for assessing business performance, and it’s required under the Affordable Healthcare Act (ACA) and for certain tax credits. The method for calculating FTE is slightly different for each of these uses. Learn how to calculate it for every business purpose. What Are Full-Time Equivalents? It is sometimes useful to know how the total number of full-time and part-time employees are working in a business....

However, you should know that there is much more to this insurance company and what it has to offer customers than its clever and lovable spokesperson. The company offers a wide range of affordable insurance products and GEICO mobile and web apps to better serve its customers. GEICO (Government Employees Insurance Company) began as an automobile insurer in 1936. The founder, Leo Goodwin, named the company after his targeted customers, government employees and military personnel....

But while both loan options are secured by your home equity, they differ in many ways. Understanding the differences between a HELOC vs. cash-out refinance can help you determine which is the better option for you. What’s the Difference Between a HELOC and a Cash-Out Refinance? For example, if you have a $50,000 HELOC and take a draw of $20,000, you still have $30,000 in available credit. If you pay back $10,000 of what you borrowed, you now have $40,000 in available credit....

A while back, a seller hired me to sell her home as a short sale in El Dorado Hills. Her home had previously been in escrow when it was listed by a different agent. Allegedly, that real estate agent told the seller that it was the seller’s responsibility to negotiate her own short sale. The agent said she didn’t have enough time to call the bank and, if the seller wanted the bank to accept her short sale, the seller needed to call the bank herself....

Several strategies may offer relief from burdensome medical bills, regardless of your income. In this story, we explore ways to get assistance, negotiate payments, and use other techniques to take control of these debts. And if you need help with any of this, we’ll point you toward reputable resources. Don’t Ignore the Bills While snowballing medical debts can cause distress, it’s critical to monitor your healthcare costs and at least acknowledge bills as they arrive....

Trying to keep track of business and personal use of listed property is difficult. Until the IRS comes up with a better system, you should continue to keep detailed records of employee use of company-provided automobiles and other listed property if you want to deduct these costs as business expenses. What Is Listed Property? Listed property is business property that is used by employees or owners in a business which can also be used for personal purposes....

In a short sale, the list price doesn’t mean much. How can an agent and their seller put a price on a short sale that isn’t real? It’s done every single day in cities across America. Learn more about how short sale pricing works. How Short Sales Work You might wonder how flexible the short sale price is or how low the seller will go. If you offer the list price, the bank has to accept that price, right?...

Let’s go over how long you can contribute to a Roth IRA, what the annual deadlines are for a contribution, and how to maximize your contributions throughout your life. How Long You Can Contribute to a Roth IRA There is no age limit to Roth IRA contributions as long as you have taxable compensation. The IRS limits Roth contributions to those who have $140,000 or less of annual taxable compensation or $208,000 for married couples filing jointly....

The amount of those fees depends on the type of bankruptcy you file and the attorney you choose. If you’re worried about how to pay to file for bankruptcy, learn more about how much it costs. Chapter 7 vs. Chapter 13 The most common type of bankruptcy for individuals is Chapter 7, which effectively wipes the slate clean after certain assets are liquidated, and cash from the liquidation is distributed to creditors....

There’s no right or wrong answer or set amount of time. The answer depends on what other responsibilities you have, and how much you have to do to position yourself to get hired. Create a “Job Search” Schedule There’s a fine line between not spending enough time and spending too much time and getting stressed. If you don’t spend enough time, your job search won’t get off the ground. If you spend too much time, you’re likely to burn out....