State income tax is a tax on the amount of income earned in the state you live or work in. States use income tax to pay for government services including education, health care, transportation, corrections, and low-income assistance. It is set by state legislative bodies, which creates variances from state to state. States vary widely in their approaches to income tax. Most states have graduated tax brackets, some levy a flat tax, some have no income tax, and one state–New Hampshire–only taxes interest and dividend income....

Roy JAMES Shakespeare / Getty Images To help you sort through these factors, we researched rates across more than a dozen insurance companies rated A or better by AM Best. We looked at premiums for policies with different coverage amounts, terms, and applicant ages to give you an idea of how much you can expect to spend—or if you’re currently paying too much. All charts refer to term life policies unless otherwise indicated....

As of 2021, there are 19 member countries of the European Union that use the euro as the official currency. They are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Four non-EU territories also use the euro: Andorra, Vatican City, Monaco, and San Marino. Fourteen African nations peg their currency to the euro. These are former French colonies that adopted the CFA franc when France switched to the euro: Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Republic of Congo, Côte D’Ivoire, Equatorial Guinea, Gabon, Guinea-Bissau, Mali, Niger, Senegal, and Togo....

Any product manufactured in one EU country can be sold to any other member without tariffs or duties. Practitioners of most services, such as law, medicine, tourism, banking, and insurance, can operate a business in all member countries. The Purpose of the EU The EU’s purpose is to be more competitive in the global marketplace. It must balance the needs of its independent fiscal and political members at the same time....

vladans / Getty Images The ACWI is maintained by Morgan Stanley Capital International (MSCI), a leading provider of investment-decision support tools to clients ranging from large pension plans to boutique hedge funds. Many exchange-traded funds (ETFs) use these indexes as bases for their holdings, which has made the acronym ubiquitous in the financial markets. The ACWI includes equities from countries across the globe, including the United States, Japan, the United Kingdom, China, and Canada....

For example, the muni-Treasury ratio for the one-year period of May 28, 2021, to May 31, 2022, was 82.4%, suggesting that municipal bonds had a higher valuation than Treasuries. How Do You Calculate the Muni-Treasury Ratio? The math behind the ratio is fairly straightforward. Divide the yield on AAA-rated municipal bonds (munis) by the yield on U.S. Treasury bonds of the same maturity. You can use municipal yield indexes like the S&P Municipal Bond Index (10-year) and yields from the Treasury Department’s website....

What the GPD Growth Rate Means for You The GDP growth rate is an important economic indicator. It reveals which of the four stages of the business cycle the economy is in: peak, contraction, trough, and expansion. These stages point to whether the stock market and personal income are growing and businesses are hiring. The Bureau of Economic Analysis updates its GDP estimates as new data comes in. Those revisions impact the stock market as investors react to this new information....

A business owner can utilize unearned revenue for accounting purposes to accurately reflect the financial health of the business. This type of revenue, for one, provides an opportunity to help small businesses with cash flow and working capital to keep operations running and produce goods or provide services. However, understanding how unearned revenue impacts the books and customer relationships is key to making the most out of this financial component....

Unfortunately, housing market trends aren’t that cut and dry. Rather than focusing on the economy, think about personal factors such as: Your budget for moving-related expenses Your family size Your credit history and score Your ability to keep up with your mortgage In this article, we’ll explore how housing trends can paint a mixed picture — which is why it’s better to put the “personal” back into personal finance and make housing choices based on your own needs rather than making guesses about the economy....

First of all, don’t beat yourself up. Don’t dwell on it, since that won’t help your situation. Instead, focus on what you are going to do next and how you are going to find another job. Keep in mind that another hurdle – the stigma of being fired – has just been added to your job search. That said, there are ways you can address this issue and put it in at least a neutral, if not a positive, light....

Employers look for candidates who are a good match for the job, and if your credentials show you’re overqualified, you may not be considered for the role. Learn why employers avoid hiring overqualified candidates, how to adjust your resume to demonstrate you’re interested in the position over the long haul, how to tailor your cover letter, and tips for responding to interview questions. Why Being Overqualified is a Problem Here are some reasons why employers shy away from hiring candidates who appear overqualified:...

A different set of rules would apply if you inherit an IRA from someone other than a spouse. If You Inherit a Traditional IRA From Your Spouse There are two primary types of IRAs you can inherit: a traditional IRA or a Roth IRA. You have three choices if you inherit a traditional IRA from your spouse: The Internal Revenue Service (IRS) has specific rules for each situation. You Can Cash It In You’ll pay income taxes on the amount withdrawn if you cash in the IRA, but no penalty taxes will apply regardless of your age....

Tax tables usually change somewhat each year, so taxpayers should be sure that they’re using the correct ones for the year in question. The IRS makes that relatively easy and provides numerous sources for these tables. US Federal Income Tax Tables The most basic tax table issued by the IRS delineates tax brackets. They’re based on your filing status and the amount of taxable income you earned in the tax year after you claim various deductions....

So, where is the best place to open a free savings account? Local or Online? You can find fee-free savings accounts at a variety of places, including online banks and brick-and-mortar institutions. If you prefer to have banking in person, a brick-and-mortar bank is your best choice. Small institutions are your best bet when it comes to brick-and-mortar savings accounts. Big banks might offer free accounts, but they’re harder to find and to get qualifying accounts....

The majority of investors do about average in terms of overall performance. If the market goes up 10%, they might make 8% or 12%, but they’re basically in line with the greater trend. Yet then there are also those investors who seem to consistently and routinely make profits trading stocks. What is it about their approach, which seems to pay off continually? What are they doing differently than the majority of people we mentioned earlier?...

Contributing to Your 401(k) You can contribute a portion of your earnings to a 401(k) account tax-free each pay period, subject to annual limits set by the Internal Revenue Service (IRS). Some employers even offer matching programs, where they contribute an equal amount to help grow your fund. It’s clear to see how it makes sense to put in as much as possible and maximize your 401(k). But there may be reasons to hold back....

Young people have a considerable advantage when it comes to investing because you have the potential to grow significantly more wealth if you start early. You can take advantage of technological innovations, take on slightly more risk, and take advantage of some other benefits of investing young. The Impact of Compounding Perhaps the most significant benefit of investing when you’re young is the impact that compounding will have on your portfolio....

Because of a provision of the American Rescue Plan that boosted and expanded the eligibility of the government subsidies available through the Affordable Care Act, or Obamacare, healthcare plans on the marketplace are available at reduced cost through 2022 for many consumers. The government is picking up a larger share of insurance premiums for those earning up to four times the federal poverty level ($51,040 for a one-person household) and, for the first time, subsidizing coverage for people who earn more than that....

Before you enroll in a DRIP, it’s important to learn how DRIPs work, the benefits they provide and the drawbacks, and how you can enroll in a DRIP. What Are DRIPs? DRIPs are programs that automatically invest into more shares any cash dividends you receive. You must elect to enroll in a DRIP; these plans are not compulsory. Depending on your broker, you could have multiple investment options that offer DRIP....

Try using a budget like the 50/30/20 method, which suggests spending 50% of your take-home pay on necessities like housing and groceries, 30% or less on items you want but don’t need, and 20% or more on savings and paying off debt. That will help keep your credit card spending in line with your income and other saving and spending priorities. Paying on time is also important because payment history is the biggest contributor to your credit score, the three-digit number that lenders use to evaluate your credit usage....