The state of Michigan provides tax benefits to you if you choose to contribute to the state’s 529 College Savings Plans. You may find some relief from the burden of college costs when you understand the available savings options and the people they’re designed to help. These programs can lessen the burden of financial aid debt. Tax Benefits of 529 Plans Michigan is one of 33 states that offer residents a tax deduction or tax credit for saving for education....

Small Spreads When the bid and the ask prices are close, there is a small spread. For example, if the bid and ask prices on the YM, the Dow Jones futures market, were at 1.3000 and 1.3001, respectively, the spread would be one tick. What this example means in real terms is that if you immediately were to buy 1,000 YM, it would cost you $1,300.10; if you were to sell it back instantly, you would receive $1,300....

As part of the plan announced Monday, the White House said the Department of Agriculture will provide up to $375 million in grants for independent processing plant projects, $275 million in partnership with lenders to provide loans and other support to independent processors to increase their access to capital, and $100 million for workforce training for meat and poultry processing jobs. In addition, the plan calls for $100 million to reduce overtime inspection costs at smaller processing plants and $50 million for technical assistance and research and development for meat and poultry processing....

The economists at Goldman Sachs estimated the 100,000 jobs would be created at a rate of about 15,000 to 20,000 a month once the restrictions are lifted. The 33 restricted countries have only sent about 5% of the tourists they were sending before the pandemic, while unrestricted countries have been sending about 60%, according to the economists. That means it’s safe to assume the November change will restore tourism to 60% by the end of the first quarter of 2022, they said....

According to data from the Bureau of Labor Statistics, the average pretax household income in the United States in 2019 was $82,852, while average household expenditures added up to $63,036. This means the average American spends about 76% of their income. Learn how that number breaks down and how much is allocated to expense categories, such as rent, healthcare, transportation, childcare, clothing, self-care, and even entertainment. Find out how you can save money on some of your big-ticket monthly expenditures....

The volume of lending in BNPL exploded over that two-year period, growing from $2 billion to $24.2 billion among five lenders examined by the Consumer Financial Protection Bureau (CFPB) in a report released Tuesday. While consumers can benefit from BNPL products, they also come with some major risks, and the bureau said it was increasing its supervision of BNPL companies’ practices. The upshot for borrowers: In the future, BNPL loans might come with more of the consumer protections that credit cards have....

While the average 30-year offer rate is still not that much higher than the 2.89% low point reached in December 2020, the days of record low rates are slipping farther into the rearview mirror, leaving prospective homebuyers with less ability to offset the soaring home prices seen in the pandemic. (The Balance’s daily mortgage data goes back only to April 2021, and data on yearly highs and lows only as far back as 2020, but we do know the highest the 30-year average got in 2020 was 4....

Buy a Home in a Good Location Remember the adage “Location, location, location.” Don’t buy a home in a troubled neighborhood where crime is high and then wonder why it’s difficult to rent. A good location is generally a desirable and popular neighborhood with good schools, high curb appeal, and evidence that homeowners display pride in owning their homes. A home in a neighborhood near busy intersections, train tracks, airports, or freeways will always have less value....

Can You Be Fired Without Notice? Since most workers are employed at will, the reality is that they can be fired without warning. However, there are some exceptions. At-Will Employment At-will employment is a term used to describe the relationship between an employee and an employer in which either party may terminate the employment agreement for any reason and without warning, so long as the reason is not discriminatory in nature....

Can You Buy Crypto With a Credit Card? You can purchase cryptocurrency with a credit card if your card issuer and payment network allows the transaction type. You can check with your credit card issuer to find out whether they’ve blocked cryptocurrency purchases before initiating a transaction. Credit card issuers that do block the purchase of cryptocurrency have varying reasons. Capital One, for example, made the decision to decline cryptocurrency purchases to protect cardholders and will evaluate its position as the market evolves....

Learn more about your options for using your equity to pay off your home loan, how this process works, and whether it’s a good idea for your situation. How To Use Home Equity To Pay Off a Mortgage When you use equity to pay off a mortgage, you essentially are refinancing your mortgage loan because you’ll still owe money, with your home as a lien. When you take out a HELOC or a home equity loan, you will have two loans: the original mortgage and the new loan....

Types of Commodities Since there are so many commodities, they are grouped into three major categories: agriculture, energy, and metals. Commodities are hard assets you can touch.They are grouped into agricultural, energy, and metals.Their prices are traded every day in the commodities market.As a result, the prices of gasoline and many food products change frequently. Agriculture Agricultural commodities include: Things you drink, such as sugar, cocoa, coffee, and orange juice. These are called the “softs markets....

What a Counterpart Is In the law, a counterpart is a duplicate document. The term “counterpart” is used in legal documents to describe a copy of a contract that is signed and is considered legally binding, in the same way as the original. In many cases, several copies of a contract document are prepared, so that all parties and signatories can have a copy of the contract. After signing all copies, they can be considered the same....

Savvy entrepreneurs do not just focus on sending out invoices—they also keep a record of their costs. The expenses you accrue to start, run, and grow your business are often considered tax-deductible, which could lower your tax obligations to the Internal Revenue Service (IRS). While some business expenses are clearly outlined on Schedule C, others fall under the miscellaneous category. Expenses such as these cannot be categorized but still should be included in your taxes to decrease your tax payments....

Yagi Studio / Getty Images The $1,400-per-person payments will begin to be issued this weekend, the IRS and Treasury Department announced Tuesday, with an official payment date of Wednesday, April 7. Most of the checks will be issued electronically through direct deposits and payments to existing Direct Express debit cards. The IRS processed 90 million payments in the first week after President Joe Biden signed the American Rescue Plan into law March 11, with another batch of 37 million put in the mail last week....

What Is Direct Deposit? Direct deposit is an electronic payment from one bank account to another. For example, money may move from an employer’s bank account to an employee’s bank account, although there are several other ways to use direct deposit. To complete transfers, banks use the Automated Clearing House (ACH) network, which coordinates these payments among financial institutions. Fully Automatic Transactions When you receive funds via a direct deposit, your account balance will automatically increase when the payment arrives....

Who Needs It? You should consider purchasing discontinued products and operations insurance if any of the following scenarios applies to you. Liability Policies Don’t Cover Future Injuries If a company goes out of business the policies that were in force while the firm was operating won’t cover injuries that occur after the business is discontinued. Why? Most general liability insurance is written on occurrence forms. It covers claims or suits for bodily injury or property damage that occurs during the policy period....

As a grant, it’s not intended to be repaid. But there are certain instances in which you may be on the hook for repaying the money. Learn what a Pell Grant is, how it works, when you might need to pay one back. How Pell Grants Work To apply for a federal Pell Grant, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA) form every year....

In this article, you’ll learn more about what business licenses are; the different types of licenses and permits; what professions require licenses or permits; and whether or not you need one or more of them. What Is a Business License? A business license is a document that states you have met the requirements to run a particular type of business in your country, state, and/or municipality. Rules about business licenses vary from state to state and even from town to town....

6 Reasons to Change a Life Insurance Policy Checklist Before You Change or Cancel Your Life Insurance As the policyholder of your life insurance policy, you are in control of your life insurance policy choices. Neither beneficiaries nor life insurance policies can be changed without your consent. The only exception to this may be if the beneficiary on your life insurance policy is irrevocable. The policyholder cannot change the irrevocable beneficiary without consent....