Small businesses must decide to whom they are going to extend credit. Are they going to sell their products only to those who pay in cash and checks? This may make their payment processing easy, but it will severely limit their customer base. If small businesses choose to extend credit to their customers at a brick and mortar store, it is a little more complicated than just allowing cash sales....
Home prices have been climbing all year as strong demand, fueled by low interest rates and yearnings for more space during the pandemic, outstripped supply. While the market has calmed somewhat lately, the median sales price of a new house in July was a record $390,500, up from $370,200 the prior month, likely pushing some buyers out of the homebuying market and sending them to rentals. As a result, apartment occupancy rates have tightened to a record 96....
What Is a Single-Member LLC? A limited liability company with only one owner is called a single-member LLC (SMLLC). An LLC is a business entity that separates the business from the owner, offering some liability protection. It also is a pass-through taxing entity that allows the owner to pay the income taxes of the business on their personal tax return. For tax purposes, the SMLLC is considered to be what’s called a “disregarded entity,” meaning that the activities of the business are included on the owner’s personal tax return....
If the bid-ask spread in a stock is $49.36 by $49.37, and you place a market order to buy 500 shares, you may expect it to fill at $49.37. In the fraction of the second it takes for your order to reach the exchange, something might happen, or the price could change. The price you actually get could be $49.40. The $0.03 difference between your expected price of $49.37 and the $49....
Here are some examples of what SMEs are, the role they play in the economy, and how countries differ in their definitions. What Are SMEs? Unfortunately, there isn’t a set definition of SME that applies globally. Each country gets to set its own definition, and they may also decide to set specific limits for specific industries. For example, in the European Union (EU), a business with fewer than 250 employees is considered an SME, while in the United States, an SME may have up to 1,200 employees....
What Is a Sole Proprietorship? In a sole proprietorship, the business is owned by a single person who fully operates it and has uninterrupted control over business operations. In essence, the owner is not obligated to file with the secretary of state or the registrar of companies to create the business. It does not require the formalities that are followed by corporate entities such as the obligation to hold an annual meeting or to keep the minutes of meetings....
The first sign appears when the country finds it cannot get a low interest rate from lenders. Amid concerns the country will go into debt default, investors become concerned that the country cannot afford to pay the bonds. As lenders start to worry, they require higher and higher yields to offset their risk. The higher the yields, the more it costs the country to refinance its sovereign debt. In time, it cannot afford to keep rolling over debt....
Overview of State Taxes in a Chart The chart below shows which states currently collect state individual income taxes, state sales taxes, state estate taxes, state inheritance taxes, and/or state gift taxes. Note that local governments at the county or city level may collect taxes even if the state does not. State Income Taxes The following seven states exempt residents from all income tax liability: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming....
Here’s the timeline from the early warning signs in 2003 to the collapse of the housing market in late 2006. Keep reading to understand the relationships among interest rates, real estate, and the rest of the economy. Disastrously, this raised monthly payments for those who had interest-only and other subprime loans based on the fed funds rate. Many homeowners who couldn’t afford conventional mortgages took interest-only loans as they provided lower monthly payments....
Some tablets not only have Wi-Fi capabilities but also offer LTE cellular data connections, too. Improved OLED displays and high-resolution screens give you better color ranges and detailing for precise artwork. Whether you’re a creative professional or a loyal Apple user, here are the best business tablets available today. This tablet, which has a folding kickstand on the back, measures just 7.3 millimeters thin and weighs under 2 pounds—making it slim and lightweight for travel....
For those seeking new learning tools, the vast number of options can be daunting. Here you’ll find the 24 best sites for online education, narrowed down and categorized by the type of learning experience they offer. Diverse Learning These websites offer thousands of courses that cover a wide range of topics. From art history to photography to economics, these sites will likely have a class that caters to your subject of interest....
When the Federal Reserve raised the federal funds rate, it sent adjustable mortgage interest rates skyrocketing. As a result, home prices plummeted, and borrowers defaulted. Derivatives spread the risk into every corner of the globe. That caused the 2007 banking crisis, the 2008 financial crisis, and the Great Recession. It created the worst recession since the Great Depression. The subprime mortgage crisis was also caused by deregulation. In 1999, the banks were allowed to act like hedge funds....
The federal minimum wage is $7.25 per hour, meaning that employers must pay all of their employees that baseline amount. Recently, many Democratic members of Congress have pushed for a $15 federal minimum wage, provoking opposition from Republicans and business owners. Eight states already have plans to increase their minimum to $15 an hour over the next several years, including New York, Illinois, Florida, and California. However, 41 states would be legally required to ratchet up their rates, often considerably, if the $15 federal minimum is passed....
What Is a Written Contract? A written contract is an agreement made on a printed document that has been signed by both the lender and the borrower. Written contracts are legally binding and easier to enforce than oral contracts. In a written contract, one party agrees to perform a service or provide a product, and the other party agrees to certain payment terms. The terms of written contracts can vary from one contract to another....
For the past month, members of Congress and professional tax organizations have lobbied the IRS to postpone the deadline for first-quarter payments, saying the current deadline is unfair to small business owners, freelancers, and contractors. Even as late as Tuesday, IRS Commissioner Charles Rettig was faced with these complaints during a hearing with the Senate Finance Committee, but Rettig defended the deadline, saying the system is fair because everyone must “pay as you go....
Key Questions to Answer When it comes to how much savings you’ll need for retirement, there are several key questions and considerations you should evaluate as you contemplate retirement, either with or without the assistance of a planner. What Do You Envision for Your Retirement? Does your ideal retirement life look a lot like the one you have now? Or would you hope to step it up a notch? Alternatively, you may crave the idea of an earlier retirement even at the expense of a lower standard of living....
The average rate offered to homebuyers using a conventional 30-year fixed mortgage jumped back up to 5.87% from 5.51% the previous business day, matching its highest point since at least 2019. The average 15-year rate rose to 5.26% from 5.02% the previous business day, reaching a fresh high since at least 2019. (Our daily mortgage rate data only goes back to April 2021, but our data on yearly highs and lows date back to 2020, so we know rates weren’t higher in 2020....
Rates on the 30-year fixed mortgage, the most popular type of home loan, fell to an average 3.19% from 3.23% the previous business day. The average for the 15-year fixed fell to 2.39% from 2.42% the previous day. Fixed mortgage rates tend to track 10-year Treasury yields, which often rise in tandem with increased inflation fears. Concerns about a new strain of COVID-19 and whether the economy had reached peak growth rates have generally suppressed yields in recent weeks, though they did yo-yo a bit this week....
Why Is Practicing Common Interview Questions Important? There is no better way to build self-confidence before your interview than to practice answering the questions you are most likely to be asked. This will help ensure that you don’t become tongue-tied during the actual interview. Ideally, you should also practice answering them aloud with friend or family member who can act as the interviewer. This will allow you to focus on your body language as you respond to questions....
Having too much or too little tax withheld can have different but significant consequences, so it’s important to ensure that you get your tax withholding just right. Why Tweak Your Income Tax Withholding? Inaccurately completing your Form W-4 can result in underpaying your taxes for the year if you don’t have enough withheld. You’ll end up owing the money in a lump sum when you file your tax return. But you’ll end up lending Uncle Sam your money interest free if you overpay in tax withholding....
