Insurers use your car’s depreciation to calculate its actual cash value (ACV), determine claim payouts in total losses, and make other evaluations. Collision and comprehensive insurance, for instance, may replace your car in a covered claim if it’s damaged beyond repair, but insurers typically only cut a check for its ACV (minus your deductible)—not the amount you’d need to buy the same car in a newer make or model....

The short answer is, because Russia is a bigger player on the global market than it is in the U.S. Russia supplies 11% of the world’s total petroleum products, the EIA says, making it the world’s third-largest producer. The U.S. move to ban Russian oil was a signal for other countries to follow suit—Britain has already pledged a similar sanction—and concern about what might follow made waves in the global marketplace that sets prices for oil and gasoline, economists said....

Self-Employment Taxes Self-employment taxes are taxes paid by self-employed business owners to the Social Security Administration for Social Security and Medicare, based on earnings from a business you own (not a corporation). Self-employment tax is also called “SECA” tax (from the Self-Employed Contributions Act). The tax rate for self-employment income is 15.3% for Social Security and Medicare, in two parts: 12.4% for Social Security and 2.9% for Medicare. The tax amount is based on the the business income of the individual....

The Direct Method The direct method of developing the cash flow statement lists operating cash receipts (e.g., receipt from customers) and cash payments (e.g., payments to employees, suppliers, operations, etc.) in the operating activities section. In this section, any interest paid on outstanding debt is also reported along with all income taxes paid. Using the direct method, the result is cash receipts minus cash disbursements, and the final figure is net cash flows from operations....

You may have heard the term “product liability insurance” and wondered if it’s necessary for your small business. Learn what product liability insurance covers, how much it typically costs, which factors affect its price tag, and how to go about getting coverage. What Product Liability Insurance Covers In general, product liability insurance protects your business if a product you made or sold causes harm, certified SCORE mentor and business insurance expert Walt Abbott told The Balance via a phone interview....

Definition of Downsizing Downsizing is the process of reducing costs by reducing headcount. Jobs may be eliminated voluntarily, by offering employees a buyout, or involuntarily, through a layoff. Alternate names: layoff, reduction in force, rightsizing How Does Downsizing Work? During a downsizing, the company will usually notify certain employees that they are being laid off. Usually, these are permanent layoffs; however, sometimes the employees may be rehired after a restructuring period....

When you wing it every month without a budget in mind, you’re passing up opportunities to slash unnecessary costs and save money. A few minutes spent creating a budget now can save you big money later. Don’t neglect your short-term goals either. Your financial goals can include quick reductions on utility bills, cable bills, and other expenses that are keeping you from saving more money each month. You might not be able to pay off all of your debt today, but you can create a realistic plan to work toward paying it off....

Consumer sentiment is closely watched by experts because it tends to predict how much people are willing to spend—a major factor in gauging the health of the economy. Economists were surprised the outlook got better considering rapidly rising prices, ongoing problems with manufacturing and transporting goods, and the economic fallout from the Russian invasion of Ukraine. Consumers’ feelings about the future of the broader economy, their own finances, and the job market all improved notably....

Learn how to open an Etsy shop and begin selling. What Is Etsy? Etsy is an online marketplace where vendors can connect with buyers. Sellers on Etsy typically sell a variety of handcrafted or vintage goods. Products sold on Etsy include: ArtsCrafts and crafting suppliesJewelryPaper goodsHousewaresArtisan foodsSmall-batch cosmeticsHandmade personal care itemsClothing and accessories Many artists sell digitally downloaded items, such as art prints, stationery designs, planners, or other printable documents....

What Is the Flex Modification Program? Many mortgages are backed by one of two government-sponsored enterprises known as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation (FHLMC)—commonly referred to as “Fannie Mae” and “Freddie Mac,” respectively. These organizations purchase and guarantee loans made by qualified lenders that meet certain standards. “Borrowers with Fannie Mae- or Freddie Mac-owned loans can benefit from the Flex Modification Program,” said Jennifer Harder, founder and CEO of Jennifer Harder Mortgage Brokers, in an email to The Balance....

If you live in Pennsylvania, New Jersey, or Kentucky, you have the right to opt out of your state’s no-fault system and retain your right to sue. If you decide to do that, you get to pick limited or full tort insurance. What’s the Difference Between Full Tort and Limited Tort? Damages You’re Allowed To Pursue There are two types of damages following a car accident: economic damages and non-economic damages....

Your cover letter should highlight the points on your resume that make you a superior candidate for the position you are seeking. It should not simply recap your resume, but rather point out details and expand on specific key assets that are essential for success in the job. What Information to Include in the Letter Think of your cover letter not just as an introduction or a statement of intent to apply for a job, but as a golden opportunity to market yourself, your skills, your qualifications, and your training to an employer....

Insurance companies and group health plans will be required to pay for eight over-the-counter COVID-19 tests per person per month starting Jan. 15, according to new rules announced Monday by the Department of Health and Human Services. The tests will either be paid for upfront by their health plan or the customer will be able to get reimbursed for them. There won’t be any limit on the number of free tests if they’re ordered by a physician....

There’s one main difference between traditional candlestick charts and Heikin Ashi charts. Heikin Ashi charts the average price moves, creating a smoother appearance. Because the Heikin Ashi price bars are averaged, they don’t show the exact open and close prices for a particular time period. Some traders want additional confirmation of trend direction. HA charts are often used as a technical indicator on a typical candlestick chart. They can help highlight and clarify the current trend....

While homebuilding has been increasing lately, that’s not the main reason for the phenomenon, real estate company Redfin said in the report this week. Instead, it’s because buyers are picking listings clean of pre-owned homes (which tend to be cheaper). There’s intense demand for those existing houses due to work-from-home trends, and very few for sale at any given time. As a result, as the chart below shows, the share of listed homes that are newly constructed rose to 34....

By out of the area, we mean outside of your metropolitan area. For example, if you live in southern California, you should not hire a short sale agent from northern California. You should not cross state lines. Try to hire a local agent within your MLS area. #1 Factor for Hiring the Best Short Sale Agent: Experience in Short Sales Don’t be bamboozled by a slick, fast-talking real estate agent who might claim to be a short sale specialist....

What Does Accrued Mean? The word accrued is an adjective, describing something that accumulates over time. In the case of a business, accruals are often money, but time can also be accrued, as in paid time off. Accruals work in two ways: Benefits, as in money or time, can accrue to someone. These benefits can be received or increase over time.Obligations and debt can also accrue. The debt gets larger over time, like over the term of a loan....

Sincerely, Unsure on the East Coast Dear Unsure, I know that after a long time of financially struggling, it can be hard to allow yourself to enjoy the money you make. What if something happens and you’ve spent all the extra income you both have earned? In reality, no one can predict the future, but I do know that life isn’t just meant to be endured; it’s also meant to be enjoyed....

Your student loans appear on your credit report and are factored into your credit rating, just like any other loan. How you manage your student loans can make an impact, so it’s important to stay on top of the situation. How Student Loans Can Affect Your Credit Your student loan is considered to be an installment loan. Just like a car loan or mortgage payment, you make regular monthly payments until the debt is paid off....

A reverse mortgage can provide a source of funds in retirement, but it can also leave your estate with a significant bill to pay after you die. You do have alternative options to tapping your equity, however. Learn about the pros and cons of using reverse mortgages and other home equity products. How a Reverse Mortgage Works After Death Your heirs or estate should receive a “due and payable” notice shortly after your death....