Alternate name: Condo insurance Policy details vary, but they generally cover some or all of the following to a degree: The dwelling, its fixtures, and any improvementsPersonal property and belongings within the unit, such as clothing, furniture, and electronicsLiving expenses if you have to move out while your condo is being repaired or rebuilt due to a covered lossLegal fees and medical costs for accidents that happen in your unit...
What Counts As a Foreign Financial Asset? The IRS calls foreign financial assets “specified foreign financial assets.” They include: Financial accounts maintained at institutions outside the U.S., such as bank accounts, investment accounts, retirement accounts, deferred compensation plans, and mutual funds Stocks, bonds, or other securities issued by a non-U.S. person and not held through an investment account Notes or bonds issued by a foreign person Any interest in a foreign entity, such as a foreign corporation, foreign partnership, or foreign estate or trust Any financial instrument or contract that has an issuer or counterparty that isn’t a U....
Bodily injury (BI): Covers medical expenses, lost income, legal fees, and funeral expenses. Property damage (PD): Pays for damage you cause to another person’s vehicle or their property. Auto insurers provide liability coverage for each type up to certain limits that are set out in your policy. Alternate names: bodily injury liability insurance, property damage liability insurance, auto liability insurance How Liability Auto Insurance Works To understand how liability auto insurance works, consider the following scenario....
Medicare Part B could help pay the bill if you’re 65 or older and need to see your doctor because it covers preventive and diagnostic services. You’d use Medicare Part A, which covers hospital stays, if you fall ill and need temporary inpatient care. Medicare can help lower your out-of-pocket health care costs, but it doesn’t cover all medical expenses. You can address some of these gaps by applying for a Medicare supplement (Medigap) policy or a Medicare Advantage plan....
Assets are anything that a person or an entity owns that has value. It may include: Cash or cash equivalents such as life insurance policiesInvestments such as stocks or bondsReal estate, motor vehicles, jewelry, collectibles, and other tangible assetsEquipment or inventory for a business Liabilities are financial obligations or debt. This may include: Mortgage Auto loan or student loan Credit card balance Accounts payable (for a business) If a couple has $100,000 in checking, savings, and retirement accounts, lives in a home worth $300,000, and drives two cars worth $15,000 each, their assets total $430,000....
Natural resources such as lumber, oil, diamonds, and gold are often thought of as scarce. These resources cannot be easily obtained and are not found in limitless quantities. To obtain oil, diamonds, or gold, it takes a lot of time, money, or other efforts. What makes something scarce could be circumstances outside of someone’s ability to pay for the good. For example, cars may be scarce due to a shortage in semiconductors, which are needed to make many of the high-tech electronic components work....
How the IRS Defines Self-Employment Income Self-employment income is earned from executing a “trade or business” as a sole proprietor, an independent contractor, or some form of partnership. Freelancers and “gig workers” are also considered by the IRS to be self-employed. To be considered a trade or business, an activity does not necessarily have to be profitable, and you do not have to work at it full time, but profit must be your motive....
Steering is illegal under the Fair Housing Act, but it still occurs. Learn more about steering, its adverse impacts on people and society, and what to do if you feel a real estate agent has steered you. Definition and Example of Steering in Real Estate Steering in real estate refers to an agent who steers potential buyers to neighborhoods as a discriminatory measure based on the buyer’s racial, religious, or other demographic....
Who Uses Form 1003? Most U.S. mortgage lenders use either Form 1003 or Form 65 for evaluating potential applicants. If you’re applying for a purchase loan, refinance, or construction-to-permanent loan, you will likely use this form. You’ll also use it for FHA, conventional, USDA, and VA loans. Fannie Mae and Freddie Mac purchase mortgage loans in bulk. They either hold these loans as their own or resell them to investors as part of mortgage-backed securities....
Alternate name: Bullet bond portfolio To implement a bullet bond strategy, you could buy one bond with a maturity date 15 years from today. In five years, you could buy one that matures in 10 years on the same date. Five years later, you buy a bond with a maturity of five years to expire on the same date. On that date, they all mature. How Does the Bullet Bond Strategy Work?...
The Dodd-Frank Act is named after the two lawmakers who sponsored it: Senator Chris Dodd and Representative Barney Frank. On July 21, 2010, President Obama signed it into law. Alternate name: Dodd-Frank The provisions in the law were created to protect consumers and taxpayers from the risks of investments that banks make. However, many banks complained that the regulations were too harsh, especially on small banks. Lawmakers and President Donald Trump sought to roll back aspects of the law, including a major rollback in 2018 that passed with some bipartisan support....
Overall, women earn about 83 cents for every $1 earned by a man, according to data from the Census Bureau. That amount changes when you look at different groups and communities, as well as people in different professions. For example, the median weekly earnings for male marketing managers in 2021 was $1,698, while female marketing managers earned $1,490 per week on average, according to BLS data. Despite the salary difference, the number of female employees was over 1....
Alternate name: Current ratio Here’s an example: If a business has $1,000 in cash, $2,000 in accounts receivables, $2,000 in inventory, and $2,500 in current liabilities, what is its net working capital ratio? Net Working Capital Ratio = Current Assets / Current Liabilities = Cash + Accounts Receivables + Inventory / Current Liabilities = $1,000 + $2,000 + $2,000/$2,500 = 2.0 This means the business can cover its current liabilities twice over with its current asset base....
Learn more about the S&P 600 and what it might mean for your investing decisions. Definition and Example of the S&P 600 The S&P SmallCap 600 is an index that measures the performance of about 600 different publicly traded small-capitalization (small-cap) stocks in the U.S. equities market. Small-cap stocks are most often those with a market capitalization below $2 billion, although the S&P 600 has some companies with market capitalizations over $7 billion....
Learn how the U.S. Treasury index works, the different types, and how it can affect your investment and financing decisions. Definition and Examples of the Treasury Index The Treasury index is an umbrella term for the various indices that are based on the auctions of U.S. Treasury securities, such as Treasury bills (T-bills), Treasury notes (T-note), and Treasury bonds (T-bonds). Examples of Treasury indices include the yields from five- and 10-year Treasury securities....
Unemployment benefits are intended as a temporary measure to help you financially when you are between jobs. Generally, unemployment benefits last up to a maximum of 26 weeks. However, the duration of benefits can vary, depending on your state. In times of high unemployment, the federal and state governments may extend unemployment benefits. However, there are limits to how many weeks are available. That means there’s a chance your benefits might run out before you secure new employment....
Like most things, they come with some downsides that could make them an unattractive choice for some buyers. Learn more about how townhouses differ from other types of homes, the pros and cons of townhouses, and whether a townhouse is right for you. What Is a Townhouse? A townhouse is a multi-story home that shares one or more walls with another unit. According to the U.S. Census Bureau’s definition, most townhouses are considered single-family homes as long as they are separated by a ground-to-roof wall, don’t have separate units above or below them, and have separate heating/cooling systems and utilities....
One tool that protects beneficiaries that arose from ERISA became known as the ERISA bond. Here you’ll learn about this bond, why it is unlike other bonds, and how it works under the act. Employee Retirement Income Security Act of 1974 Congress devised three ways in which ERISA could attain its goals to protect beneficiaries, each of which is supported by a number of rules: ERISA mandates that employers must disclose certain financial information about the employer-sponsored retirement plan....
Installment loans and other BNPL options have exploded in popularity. Research from Kaleido Intelligence estimates that by 2025, consumer spending using BNPL services will reach $680 billion globally, a 92% increase over 2019 totals. Learn more about how Splitit can make paying for large purchases easier, and which retailers are offering it. How Does Splitit Work? Unlike some of the other BNPL services or point-of-sale installment loans, Splitit has no application process and no credit check....
How New Traders Choose a Time Frame Like many new traders, you can spend days, weeks, or even months trying every possible time frame or parameter looking for the one that makes a profit. You may try 30-second charts, five-minute charts, for example. Then you try all the non-time-based options, including tick charts and trading volume. When none of these makes a profit, you may think you made an incorrect choice and try them all again, assuming you must have missed something the first time through....
