Payroll Taxes Annual payroll tax forms—W-2s and 1099-NECs—must be given to employees and to nonemployees by Jan. 31 of the year following the tax year. Jan. 31 is also the deadline for filing W-2s with the Social Security Administration or 1099-NECs to the IRS. File W-2s with the Social Security Administration and 1099-NEC forms with the IRS. Be sure you use the correct form for the tax year, not the year you’re preparing the form....

One of the drawbacks of real estate investing, however, is that it can take more effort than other forms of investing. Active real estate management involves being a landlord and dealing with renters, or putting in the work to rehab and renovate homes or buildings to be put up for sale. For passive investors, there are some investing options that offer the benefits of real estate investment without the effort and active management that many real estate investments require....

Below are 10 reasons you may not have known about that could be causing you to pay more for auto insurance. Take these into consideration and you may find ways to save even more on your auto insurance premium. It can also help to use insurance comparison websites to get multiple quotes before choosing the right one for you. #1 You Rent Rather Than Own Your Home It may surprise you to know that renters pay higher premiums for auto insurance on average than home owners by as much as 7%, accord to a 2016 Consumer Federation of America report....

Know which words to include in your resume, and which to avoid, to impress the hiring manager quickly. Top 15 Words to Include on Your Resume Here are the best words to include on your resume according to employers who responded to a CareerBuilder survey: Achieved Include action verbs throughout your resume, particularly in the work experience section of your resume. Employers want to know what you can offer the company, and action verbs show exactly what you have accomplished at previous companies....

Turn Your Current Job into a Remote Position The first option to consider is the one that involves the least amount of change, taking your current in-office job and turning it into a remote position. And research and reflection are the first steps to transitioning your current position from an office job to remote work at home. Learn everything there is to know about your company’s remote policies then think about how these might (or might not) be applied to your job....

Unexpected businesses, such as insurance companies, have started to use credit scores to make decisions about you. Utility companies check your credit before establishing new service in your name, and some employers check your credit history (but not your actual credit score) to decide whether to give you a job, a raise, or promotion. Protecting and building your credit is more important than ever, and how you handle the following five factors can make all the difference in determining your credit score....

These skills can help you track your money, save more, and spend less – and who doesn’t want that? Keep in mind that this isn’t a comprehensive list. As you master each of these skills, you may realize that there are more that can help you further improve your financial picture. Deal Hunting One of the most important financial skills you can learn is the skill of deal hunting. This is more than occasionally browsing the clearance rack at your favorite clothing store....

Whatever the reason, you may be realizing that it’s time to resign from your job and move on to greener pastures. If you are experiencing any of these dilemmas, maybe this is the year to move on. With numerous administrative tasks, timelines, goals to meet, a demanding boss with her own goals and timelines, and a hundred competing things you need to do to be successful, your job is normal, necessary, and serves a customer....

Many of these organizations receive an exemption from federal taxes, but they must apply for 501(c)(3) status and they must qualify. And not all nonprofits are tax-exempt. What Is a 501(c)(3) Organization? An organization must serve one or more purposes to achieve tax exemption as a 501(c)(3) nonprofit. Acceptable purposes include: Charitable ReligiousEducationalScientific Literary Testing for public safety Fostering amateur sports competition Preventing cruelty to children or animals These organizations must further be able to explain how they serve the public good....

You’re Debt-Free Student loans, car loans, credit cards, and a mortgage can impact your ability to save and invest for retirement. If you’re entering retirement with debt, it can continue to affect how you spend and the type of lifestyle you’re able to enjoy. If you’ve cleared all your debts, deciding when to retire becomes much easier. When there’s no debt in the picture, you have much more flexibility in how you budget and spend your savings....

Several strategies can help you maximize the benefits of Roth IRAs. Learn more about the unique opportunities these accounts provide and explore ways to get the most out of your Roth IRA. Maximize Roth IRA Contributions The IRS limits your ability to contribute to Roth IRAs. So, if you have the funds and desire to contribute, it’s wise to maximize your contributions when you can. The annual contribution limit for 2023 is $6,500, but those over age 50 during the calendar year can make an additional catch-up contribution of $1,000....

According to Debt.org: Although not having a credit card could make it harder to build a good credit score or finance large purchases or emergencies, there are also very good reasons not to get a credit card. 1. You Already Have Enough Debt For the first time in history, student loan debt ($1.56 trillion in Q4 of 2020) has outpaced credit card debt. Recent graduates leave college strapped with tens of thousands of dollars in debt....

As a first-time homebuyer, a new-construction home brings appealing options, such as a low-maintenance home with high-quality, contemporary design, perhaps on land you chose yourself. However, the process of buying new-construction homes from builders is a bit different from the typical homeowner-to-homeowner transaction. Knowing the differences helps you prioritize what you care about most in a first-home purchase, especially if you anticipate having different housing needs within a few years....

Young adults, even college students, who don’t have enough income can’t get approved for a new credit card on their own. However, parents may help their kids avoid this dilemma by adding the child to one of their existing credit cards. Many credit card issuers allow you to add an authorized user—a person who is authorized to make charges—to your account. The authorized user gets the benefit of the credit card without the legal responsibility of owning a credit card....

Why Home Equity Matters for Building Wealth Wealth is represented by the assets someone owns minus any debts or other obligations they owe. A homeowner’s home equity or their share of the home’s overall value increases as they pay down their mortgage. Homeowners can also build equity by increasing the home’s value with improvements or by waiting as the value of real estate in the region appreciates and increases. “For most Americans, homeownership is the number one asset through which wealth is derived,” according to Andre Perry, Senior Fellow at the Brookings Institution, a progressive nonprofit public policy organization based in Washington, D....

You might not have room to store all this paperwork after closing, but you really should maintain a completed file. This means collecting copies of all the paperwork was signed during your transaction with the seller, from beginning to end. You’ll want to keep these documents for future reference—for your own review, or in the event that you have to file a legal claim against the seller, your professional representation team, or contractors....

The Chase Aeroplan World Elite Mastercard Credit Card is a mid-tier ($95 annual fee) airline rewards card designed to provide Air Canada loyalists another way to earn miles in Aeroplan, Air Canada’s loyalty program, plus travel perks such as free checked baggage. Chase began accepting applications for the card on its website on Thursday. At launch, the card offers a welcome bonus potentially worth 100,000 points. It comes in the form of two flight certificates, worth up to 50,000 points each, awarded after spending $4,000 in the first three months of card ownership....

And while savings accounts are usually good places to store money you need regular access to, they’re not the only option. There are alternatives to savings accounts that earn interest and can also give you relatively easy access to your money. From high-yield checking accounts to certificates of deposit (CDs), consider all of your savings options so you can choose the ideal saving solution for your needs and goals....

American Family Auto Insurance was founded in 1927 by Herman Wittwer and was first called Farmers Mutual Automobile Insurance Company. Mr. Wittwer started his company by offering automobile insurance to farmers, who he thought to be better risks as they often did not drive their vehicles in the winter but put them in storage. Over the years, the company expanded its products and territory to include 19 states: Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington, and Wisconsin....

Capital Improvements and Taxes A capital improvement is something that adds value to a home, extends its useful life, or adapts it for a new use. In some cases, these improvements can lower the tax you pay on the proceeds you get from a home sale. First, though, it’s important to understand which types of improvements qualify as capital improvements. According to the IRS, the following projects are examples of capital improvements:...