You Can File as Head of Household Filing your tax return as head of household provides two benefits for single parents: You’ll be able to claim a higher standard deduction, and you can earn more than single filers before you move into the next highest tax bracket. The standard deduction for the head of household filing status is $19,400 for the 2022 tax year. It increases to and $20,800 for the 2023 tax year....
Basics of Federal Income Tax Brackets The U.S. uses a progressive tax system that consists of several tax brackets. Each of the brackets is associated with a span of income that’s taxed at a certain percentage. The brackets apply only to the amount of income that remains after you subtract your standard deduction or your itemized deductions and any exemptions you’re entitled to claim. That is your taxable income. Your taxable income would be $72,000 if you’re a single filer with an income of $84,950 and if you were to take the standard deduction of $12,950 for tax year 2022....
To determine how affordable homeownership is, The Balance collected regional income data for those same 21 metro areas to find out how much of homeowners’ income is spent on housing costs (The Balance’s Home Affordability Index). Learn how much it really costs to own a home in the U.S.’s largest cities, and all of the factors that impact total monthly cost. Monthly Cost of Homeownership The average monthly cost of homeownership in the U....
In its latest quarterly report, Walmart reported revenue grew 8.4%, while online sales also jumped, driven by increasing grocery sales. But Walmart said attempts to shift inventory by cutting prices, along with more shoppers buying food instead of other items, put pressure on future profits. Home Depot also saw an increase in sales for the second quarter and reaffirmed its outlook for the remainder of the year—the company expects total sales for the entire year to grow by roughly 3%....
Tuition Tuition is the core of the college bill. It is the fee associated with taking each course, and it’s often calculated per credit. For example, a college may charge $300 per credit for undergraduate courses, which means that a three-credit undergraduate history course will cost $900. The average general education course is three or four credits. College students typically take between three and five classes per term. Some colleges and universities provide a flat rate for tuition, which covers a minimum and a maximum number of units per semester....
They’ll Market the Property for You Creating a good ad for a rental takes time and experience, and realtors have access to certain sources that you wouldn’t have if you decided to rent out the property yourself. They have access to other agents. Someone in their office might have a client that would be a perfect fit for your rental. Realtors also have access to the Multiple Listing Service (MLS) that’s accessed by real estate agents all over the area....
This article looks at a tax-friendly ranking of states, discusses factors that are included in the ranking, and presents some trends in state tax laws. What Makes a State Tax-Friendly for Businesses? The Tax Foundation, a nonpartisan tax research group based in Washington, D.C., released a State Business Tax Climate Index study in October 2022. It ranks the best and worst states for business taxes to help policymakers and business leaders compare their state’s tax systems against others, and it reveals the states with the best-structured tax systems....
The Safest Investments Are Not Always the Best Investments Before providing examples of the safest mutual funds, let’s define what we mean by safety. Remember that safety doesn’t always mean guaranteed it generally means protecting your savings. It can also mean staying ahead of inflation or preserving the purchasing power of your money. To successfully preserve your assets, you may need to take at least enough risk to match the inflation rate....
As well as providing a history of your experience, your resume is the perfect place to highlight your skills, strengths, and abilities. Types of Skills to Include on a Resume When you’re adding skills to your resume or reviewing the skills required for a job you’re interested in, there are two types of skills that are relevant. Soft skills are the skills that apply to every job. These are your people skills—interpersonal skills, communication skills, and other qualities that enable you to be successful in the workplace....
In the not-so-common situation of sub-agency, the buyer’s agent is working as a sub-agent of the seller’s listing broker. As such, they owe fiduciary duties to the seller rather than to the buyer. In this situation, the seller and their broker could be held liable for the actions of the buyer’s agent. Vicarious Liability Comes With Agency There aren’t many transactions these days where the real estate professional actually acts as an agent for their customer or client....
Fiscal stimulus is a way to control the economy by cutting spending and raising taxes. While there is a lot of debate on the topic, there’s little doubt that spending cuts and higher taxes lead to slower growth. These efforts could also harm monetary goals by undoing any gains made by them. Some experts think that this is why the global economy has failed to rebound to what it was before the 2008 crisis....
As daunting an undertaking as it may seem if you’ve never done one, the reality is it boils down to simple math. You can accurately forecast the costs and sales your business will be working with for the coming periods by looking at your current earnings. It’s critical that you identify your costs and determine your projected sales figures. You’ll then see how much revenue is necessary in order to pay your expenses....
Angel investment is a form of equity financing–the investor supplies funding in exchange for taking an equity position in the company. Equity financing is normally used by non-established businesses that do not have sufficient cash flow or collateral with which to secure business loans from financial institutions. Angel investors fill in the gap between the small-scale financing provided by family and friends and venture capitalists. Attracting Angel Investors is not always easy, but there are things you can do....
Learn more about speculators, how they work, and their pros and cons. What Are Speculators? In the world of commodities, a speculator is a party who most often does not handle the actual physical commodity. Instead, they take a financial position (long or short) with the expectation of profit from a move in the price of the asset. There are various forms of speculation. A market maker is a party who shows a bid and an offer price at all times....
If your business needs help creating an effective marketing plan, you may benefit from working with a marketing firm. What Does a Marketing Firm Do? Marketing firms help their clients create and implement successful marketing strategies. This often begins with marketing research to understand what is and is not working in the current marketing plan, followed by demographic research to create a complete ideal customer profile. Once it has a clear picture of who you are marketing to and what you have already attempted to do to reach them, a marketing firm helps you develop an overall marketing strategy, create and implement a plan for specific marketing campaigns, and analyze the success of those campaigns....
A conservator will have numerous duties and responsibilities, depending on whether the minor’s parents are still living. The court will generally appoint a child’s parent as the conservator of their property provided the parent is capable of taking on the responsibility—they are not incarcerated or otherwise unsuitable. Below are several roles that a conservator or guardian may take. If the minor inherits real estate, the conservator will be responsible for paying all expenses of maintaining the property, such as taxes, mortgages, and insurance....
Learn more about the three main types of capital and how they can help you assess your own business or someone else’s. Type One: Equity Capital Also known as “net worth” or “book value," this portrays a company’s assets minus its liabilities. Some businesses are funded with equity capital alone. This may come in the form of cash invested by the shareholders or owners into a company that has no offsetting liabilities....
The act guarantees employees “the right to self-organization, to form, join, or assist labor organizations, to bargain collectively through representatives of their own choosing, and to engage in concerted activities for the purpose of collective bargaining or other mutual aid and protection.“ The legislation was designed to make it more likely that commercial interests could be conducted without disruptions from strikes, thus protecting businesses and the economy as well as workers....
The IRS, however, has very specific rules on capital losses. By knowing and understanding the wash sale rule, you can make sure that you do not inadvertently run afoul of the law. The Wash Sale Rule Defined Put simply, the wash sale rule prohibits an investor from claiming a capital loss for tax purposes if they repurchase the stock or security within 30 days. Specifically, the IRS deems a transaction a wash sale if the investor does the following 30 days before or after a sale:...
The average rate offered to homebuyers using a conventional 30-year fixed mortgage fell to 4.24% from 4.40% the previous business day. The average for a 15-year fixed mortgage dropped to 3.36% from 3.49% the previous business day. Their recent highs, hit last month, were 4.41% and 3.56%, respectively. Fixed mortgage rates tend to track the direction of 10-year Treasury yields, which usually rise with heightened inflation fears (and fall when those fears subside)....
