The 10% Penalty Tax Withdrawals made from a 401(k) before age 59.5 are often subject to a 10% penalty tax unless special circumstances exist. The 10% applies to the amount of the distribution. You’ll also pay income tax on the distribution itself. If You’re Still Working for the Company Most 401(k) plans don’t allow “regular withdrawals” at age 55 while you’re still working for the company. A regular withdrawal is defined as one that’s not subject to penalties and doesn’t require you to qualify based on special circumstances....

When they do, they’re trying to find out two things: ‘What Do You Know About Our Company?’ Preparation is key to answering this question effectively. Learn relevant, even critical information about the company so that you can apply your qualifications and interest not just to the job, but to the employer as well. The selection process often is based on how well the candidate fits in the organizational culture, and part of this fit is based on how well you present yourself to the interviewer and your level of interest in the company that might be cutting your paycheck....

These challenges might be academic or personal—there is a wide gamut of situations you might choose to share. Perhaps you were faced with completing an important team project, but your teammates bailed at the last minute. Maybe you were an officer in an extracurricular or service organization tasked with organizing a major fundraising project. Or, like many students today, you might have struggled to balance your classwork with the demands of a necessary part-time or full-time job....

What the Interviewer Wants to Know This question is designed to do more than just help the hiring manager learn more about your interests in school. The interviewer is also hoping to see how you handle yourself—do you make valid, cogent points, or do you inadvertently say something offensive or negative. Sample Interview Answers About Subjects You Disliked The college subjects I liked least were the ones that didn’t pertain to my major....

Series EE bonds are issued by the Department of the Treasury to help raise money to fund the government. They allow investors to buy bonds in small denominations. These are much lower than traditional corporate or municipal bonds, which can require $10,000 or $100,000 per bond. What Are the Types of Series EE Savings Bonds? There are two types of Series EE savings bonds: paper bonds and electronic bonds. These work a little differently from each other....

Even if you can get money from friends or family, or from a lender, you will need to put some of your own money into the business. If you are joining a partnership, a capital contribution is usually required. A lender will want to see that you have some of your own collateral (some of your own personal money) as a stake in the business. But should that money be a loan to your business or an investment?...

First, let’s be clear that either answer is okay. The problem arises when you confuse one with the other, or change tactics midway. Learn the difference between speculating in a stock and investing in a company. Speculating in a Stock When you speculate in a stock, you are merely hoping for a profit. You are buying because you sense a price movement for some reason (through technical analysis, market/sector news, and so forth)....

Most employees don’t have employment contracts and they don’t need them. They work under an implied employment contract, meaning that the general terms of employment are determined by state and federal laws and previous court cases. Which Employees Need A Contract? You probably don’t need a contract if you’re hiring an administrative assistant, a shipping clerk, or an IT person, but it can be a very good idea when you’re filling other positions....

Most homeowners policies cover roof damage caused by hail along with related water damage to your home’s structure or contents. But you can’t take your coverage for granted. Before disaster strikes, you need to know if your home insurance policy will cover a hail-damaged roof, under what circumstances it won’t provide coverage, and your poicy’s coverage limits. Key Takeaways What Is Hail Damage? Hail damage to your roof can take several different forms depending on the type of roof your home has....

A home equity loan is a type of loan that uses the equity in your home as collateral. If you use the proceeds of the loan for what the IRS deems to be “substantial improvements” to your home and meet other criteria, home equity loan interest may still be tax-deductible to an extent. Understanding the potential and limits of the mortgage interest deduction can help you properly deduct home equity loan interest and reduce your tax bill....

According to the 2015 Insurance Barometer Study, conducted by worldwide financial services research and consulting firm LIMRA, and the nonprofit insurance education group Life Happens, 80 percent of consumers have misconceptions about the actual cost of life insurance. Millennials believe life insurance policies are more than three times more expensive than they actually are, overestimating the cost by $440. Gen Xers overestimate the cost by $240. Putting Other Priorities Ahead of Life Insurance Due to the concerns over life insurance costs, many people opt to spend their money in areas where they see more of an immediate financial need....

The IRS is basically preventing double-dipping. You can’t claim a deduction for your state income taxes, then later receive a tax-free refund of that same money as well. You must effectively adjust the amount of your refund to account for the deduction you previously claimed. When Is a State Refund Taxable? You would have to report the state income tax refund you received last year on your federal income tax return if you itemized your deductions on your federal return last year, and if you claimed a deduction for state and local income taxes....

In other words, you would have to round up purchases by 50 cents 64 times every day for an entire year, and save every receipt, to reduce your tax bill by $1, assuming you have a typical income and typical tax deductions. A growing number of retailers offer customers the option to round up purchases at checkout and donate that change to a nonprofit organization. Research has shown that this is an effective way to raise money, since it’s not asking much from the shopper, and all those little donations add up for the organization....

Japan has 125.8 million people. Its gross domestic product per capita is $40,193.30 or the 32nd-highest in the world. That makes its standard of living lower than the United States or Germany, but higher than its Asian competitor, China. Japan has a mixed economy based on capitalism. But its government works closely with industry and its central bank works closely with the government. Trade Some of Japan’s largest exports are automobiles, machine parts, precious metals, and electrical components....

The U.S. economy added 850,000 jobs last month, beating economists’ forecast of 690,000, seasonally adjusted government data released Friday showed, a positive step for the labor market after smaller-than-expected growth in April and May. The leisure and hospitality industry added 343,000 people to their payrolls, accounting for most of June’s jump as consumer demand for experiences outside the house swelled amid fewer pandemic restrictions. Government added 188,000 workers, mostly at public schools....

This type of letter is a way for you to get your resume in front of a hiring manager and possibly be considered for employment even before a job is listed. Review the following information on how to write a letter or email inquiring about jobs, with examples of mailed and email inquiry letters. Why Write a Letter of Inquiry A letter of inquiry is a good way to connect with a company....

In subagency, the agent bringing the buyer is actually working for the seller as a subagent of the listing broker. This is important, as the agent working with the buyer actually owes fiduciary duties to the seller, not the buyer. This practice is all but dead in most states, as buyer agency is becoming more common and because the buyers need an advocate to represent their interests in the transaction....

E-commerce has experienced considerable growth since the dawn of the internet as a commercial enterprise. Its advantages include eliminating time and geographical limitations, streamlining operations, and lowering costs. Growth In the decade ending with the first quarter of 2018, e-commerce sales in the U.S. grew from less than 4 percent to more than 9 percent of all retail sales, according to U.S. Census Bureau statistics. In total dollars, retail outlets in the U....

The details will be covered below, but if you’ve just lost your card, immediately call your bank or card issuer and let them know. You need to freeze or cancel the card first and foremost so that anyone who finds your card won’t be able to use it. What to Do if You’ve Lost Your Debit Card Here are the steps you need to take if you can’t find your debit card....

A market order gives you whatever price is available in the marketplace. For example, if you buy using a market order you will get whatever price is available from those willing to sell to you. If you sell using a market order, you get whatever price is available from people willing to buy from you. Market orders are advantageous when you need to get into or out of a trade quickly, such as when the price is moving quickly....