According to the Internal Revenue Service (IRS), an HSA is a tax-exempt custodial or trust account that’s set up with a trustee. Distributions aren’t taxed as long as you use the money to pay for qualified medical expenses. Qualifying Rules for HSAs Eligibility rules require that you be enrolled in a high-deductible health insurance plan to qualify for an HSA. The high-deductible plan must meet certain requirements. For 2022, the minimum annual deductible limit is $1,400 for self-only coverage ($1,500 for 2023) and $2,800 for family coverage ($3,000 for 2023)....

The website, www.covidtests.gov, will be available for ordering beginning Jan. 19, the White House said Friday. The tests are expected to ship, via U.S. mail, 7-12 days after you place your order, and each mailing address is entitled to four, officials said. There also will be a phone number for people who can’t get online, but that number had not been announced as of Friday. The Biden administration plans to send out 1 billion at-home test kits as part of a program to help blunt the latest surge of virus cases....

As the hiring employer, there are still some things you must do to hire and start paying that independent contractor. Flexibility in being able to vary hours worked, or paying by project, and not having to pay when work isn’t availableOutsourcingnon-essential tasks, like IT and maintenance, so you don’t have to set up a new department within your companyBeing able to end the relationship easily without the paperwork and potential problems that go with firing an employeeNot having to pay​ ​Social Security and Medicare tax on contractor income....

One way to evaluate whether it’s worth investing in high-yield bonds is to look and see how the high-yield bond market has performed over time, as compared to market indexes like the S&P 500. When you look at the data, you’ll want to consider a variety of factors, including how long you plan on holding onto the bonds, and how risky your current investment strategy is. The table in this article shows the returns for the high-yield and investment-grade bonds indexes alongside the S&P 500 stock index, beginning in 1987....

However, even the most responsible teenager, with willing parents and enough free time to devote to a part-time job, will run up against one limitation to their employment: the Fair Labor Standards Act (FLSA). This law regulates the days, hours, and times that 14-, 15-, 16-, and 17-year-old employees can work. Review information on when minors are legally permitted to work, including age and hour guidelines and restrictions. Ages Minors Are Legally Allowed to Work Federal Law The FLSA places restrictions on employment for minor workers (workers under age 18), depending on their age, the time of year, the day of the week, and more....

In December, there were just 685,482 homes listed for sale in the entire country, the lowest level since Realtor.com began keeping track in 2016. That’s a 39.6% decrease since December 2019. In fact, the number of active listings has been dwindling since April, according to Realtor.com data. This tracks with a trend of diminishing housing supply since the pandemic began, as logged by the National Association of Realtors. Buyers—especially well-off ones—have seen their buying power boosted by bargain-basement interest rates, which hit yet another record low on Thursday when the average rate for a 30-year fixed-rate mortgage came in at just 2....

Respondents to a survey the Federal Reserve Bank of New York conducted in March planned to save 41.6% of the $1,400-per-person stimulus checks approved last month, more than the 37.1% they intended to save from the $600 payments in December and 36.4% with the first round of $1,200 payments last spring, previous surveys showed. With the latest checks, households planned to spend 24.7% of their latest checks, and use 33....

But what’s the best way to deposit cash, and what are your options if you want to use an online bank account or ATM? Your Local Bank If you have an account at a brick-and-mortar bank or credit union, you can bring cash to a branch and make a deposit right there. You’ll start earning interest quickly if you deposit to savings, and you should not pay any fees for making the deposit....

The IMF forecasts that Brazil’s economy will contract by approximately 3.7% in 2021. After being elected in 2018, President Jair Bolsonaro made pension reform a priority, but in 2019, consulting firm Kearney removed Brazil from its list of the 25 most reliable countries for foreign investment—a list it had been on since its inception in 1998. However, it rejoined the index in 2020. According to the consulting firm, Deloitte, in 2015, during the peak of its recession, foreign investment in Brazil dropped by a staggering 23% versus 2014....

While it might seem challenging to budget for these one-time expenses, the good news is that you can by using the divide-and-conquer approach. Focus on the three basic types of one-time expenses that come up: predictable once-a-year costs, occasional costs that strike unexpectedly, and true emergencies. Expenses that Come Each Year To budget for annual costs, like holiday gifts and property taxes, you can set aside a small amount each month into a savings account, and accumulate funds to cover these predictable expenses....

What Are Fintech Cards? Fintech refers to the marriage of traditional financial products like loans, bank accounts, and insurance with new technology—a better cash-back rewards program or a new way to approve people for credit, for example. In the case of fintech cards, it generally means any new credit or debit card that’s not issued by a traditional bank. How Fintech Cards Work It’s important to note that these fintech companies aren’t banks in themselves....

In the United States, most residential property mortgage needs can be met within the guidelines set up by government-sponsored financing entities designed to encourage homeownership through the Federal Housing Finance Agency (FHFA). You’ll need a jumbo loan if you’re looking for a home that exceeds the set limits and are financing through government-sponsored lenders. Limits for Jumbo Loans Home loans acquired through government-sponsored lenders like Fannie Mae and Freddie Mac are limited to specific amounts....

Unfortunately, it’s often the case that buyers and their hired agents are too quick to make assumptions about why a given house ends up back on the market. It’s typical for them to decide that there must have been something wrong with the property, such as a glaring maintenance issue found during the home inspection. When a for-sale home does end up back on the market, this new status typically carries a stigma—one that is sometimes undeserved, but a stigma all the same....

Before you apply for a mortgage preapproval, though, it’s important to know what you’re getting into. It can take some work, and it doesn’t last forever. Preapprovals can last anywhere between 30 and 90 days, on average, though the exact duration will vary by lender. Here’s what you need to know about how to fit your homebuying goals within short windows like this. What Is a Mortgage Preapproval? A mortgage preapproval is a letter you get from your potential lender stating it’s likely you’ll be approved for a loan with them....

Here we’ll review the basics of a mega backdoor Roth and discuss the requirements to use this strategy. You’ll understand how to save a substantial amount of potentially tax-free money and why the strategy may appeal to self-employed people. What Is a Mega Backdoor Roth Strategy? When you use a mega backdoor Roth, you make after-tax contributions to your employer plan and transfer that money to a Roth account. In 2022 you can potentially save as much as $61,000 (up from $58,000 in 2021) of Roth-type money through your employer’s plan—if your situation allows....

The job might be somewhat finite in the first scenario. They’ll disburse the trust’s assets to its beneficiaries and close it. But it can be an ongoing, open-ended job if the grantor is incapacitated. The successor trustee is entitled to be paid for the services they provide on behalf of the trust, but how much and when can depend on this distinction and many other factors. Some general guidelines can shed light on how much compensation is suitable....

While most standard homeowners insurance policies provide all the coverage many homeowners need, you may want to add optional coverages to protect against specific local risks, such as earthquakes and floods. Understanding what a standard home insurance policy covers and excludes, and the optional coverages available, is key to designing a policy that protects your assets. What Does Homeowners Insurance Cover? When you purchase a homeowners policy, you agree to pay premiums and the insurer agrees to pay for covered losses according to the policy terms....

The cost of PMI can vary based on several factors. Let’s take a closer look at how much you might pay in PMI, as well as ways to get rid of it entirely. What Is Private Mortgage Insurance? When it comes to home financing, lenders are constantly thinking about risk versus reward. One of the factors that make it seem riskier to lend you money is if you’re taking out a very large mortgage relative to the value of your home....

Review sample questions and consider what responses might be appropriate, based on your background, skills, and the job opportunity. Becoming familiar with the popular question categories and some questions that are in them can help you have better results for your next interview. Questions About Co-Workers and Supervisors Interviewers will ask about your experiences with your colleagues and managers to determine how well you will fit in with a particular group....

But what if you’re itching to get rid of your vehicle before the lease is up? Or you have to move across the world and can’t take your vehicle with you? Well, don’t drive it back to the lot just yet. If you return the vehicle early, you may have to pay some hefty penalties, even up to the remaining balance on the lease. But don’t despair just yet—there are indeed ways to get out of your lease without paying an arm and a leg....