The bottom line is that you must approach the situation carefully. You can damage your credit score if you close the wrong cards or too many cards, and it’s usually not necessary if you have the self-discipline to simply stop using them instead. That said, keep a few things in mind if you’re determined to clear out some room in your wallet. Determine the Best Accounts to Keep Decide which credit cards you want to close and which ones you want to keep open....

You want this partnership breakup to go as smoothly as possible, for financial and personal reasons. Setting up a plan will help. First, consider your ultimate goal with this change, and second, consider making a plan — it’s called a dissolution plan or liquidation plan. The suggestions in this article would apply to a partnership business entity or to an LLC with several owners (called “members”), which is is set up in a similar way....

What Is the Child Tax Credit? The Child Tax Credit has undergone a few tweaks and changes over the years. It’s a tax credit that helps reduce the amount you pay to the IRS when you have a tax bill. From 2018 to 2020, the credit allowed you to deduct $2,000 for each qualifying child dependent under age 17. For tax year 2021, it was expanded even more, thanks to the American Rescue Plan (ARP)....

Through the platform, you can connect with people in your network, from co-workers to people you meet at industry conferences. Plus, it’s a way for recruiters to find you when they’re sourcing candidates. You can also expect that hiring managers may view your profile prior to interviews. Your profile is a place for you to highlight your: Employment history Education Skills and qualifications Experience Your LinkedIn profile can also increase your visibility online and help you build a professional brand that showcases your background to prospective employers....

Your Spouse’s Health Plan Losing your health insurance is considered to be a qualifying life event that allows you to enroll in a new health insurance plan outside of the Open Enrollment Period. It might be easy for you to find health care coverage if your spouse is still working and has insurance through their employer. They could add you to their policy during this time. But there’s a good chance that your spouse might be thinking about retiring as well, and you’ll each need a plan when the time comes....

What Is Maternity Leave? Maternity leave allows new moms time to spend time with their baby, and recover if they’ve physically given birth. Under the Family Medical Leave Act (FMLA), certain parents of either gender can take up to 12 weeks of unpaid leave from work to care for a new child. To qualify, the new parent must have been with their company for at least a year and worked at least 1,250 hours during the past year....

Choose a Co-Branded Hotel Credit Card Co-branded credit cards are affiliated with a specific hotel brand, like Marriott or Hyatt for example, and pay a higher number of rewards on that brand’s hotels. If you have a favorite hotel brand or one that you find yourself staying at often because of its locations, choose that brand’s hotel credit card to maximize your rewards rewards. If, on the other hand, you don’t stay at hotels very often or you use a variety of hotel brands, it may be better to choose a travel credit card that pays points on other purchases, but allows you to redeem your points towards hotel stays....

When Are W-2 Forms Due? W-2s are due to employees by Jan. 31 for the previous calendar year. If Jan. 31 is a weekend or holiday, the reports are due the next working day. However, sometimes the Internal Revenue Service (IRS) establishes specific end-of-year payroll tax reporting due dates for each year. W-2 forms are due to the Social Security Administration (SSA) by Jan. 31. Once employers have sent out W-2 forms to employees, the forms must also be sent with the transmittal form W-3, to the Social Security Administration (SSA)....

There’s a lot that goes into investing and as a parent or guardian, it may feel overwhelming to be the one to teach your child, especially if you don’t feel you’re an expert. But teaching your child to invest from a young age can give them a huge head start, both in reaching their financial goals and in the financial literacy that will benefit them the rest of their lives....

Renters insurance is affordable and provides a set of valuable coverages. Let’s explore what renters insurance covers, when you need it, how to buy it, and how to obtain proof of coverage. What Is Renters Insurance? A property owner’s insurance policy does not cover losses that a tenant might sustain. So, if a rental unit suffers damage from a peril such as a fire, the tenant might suffer losses to items such as clothing, electronics, and furniture....

Yet acting on a summons is your best interest. More than 70% of debt collection lawsuits over the past decade have ended with a default judgment, or an automatic judgment against you when you don’t show up to court, according to a study from The Pew Charitable Trusts. The formality of legal language can be intimidating, but, ultimately, the creditor is simply asking the court to enforce the debt. Even though the court is involved, you still have rights and an arsenal of tools for responding to the lawsuit....

When temperatures drop and daylight dims, you’ll likely face higher costs in heating, lighting, and other home adjustments. Find out what can affect your utility budget in the winter, and learn how you can keep these expenses down each year. Winter Can Be Expensive Several factors can increase your bills in the winter. One of the main drivers for higher utilities costs is the rising cost of energy. The costs for heating your home make up about one-third of a typical utility bill....

Who’s the best person to use for a reference? You may have both professional and personal references that you can call upon, depending on their expertise, how they know you, and the job for which you are applying. Types of Job References When you’re seeking employment, there are several different types of references you can use. Professional References. Individuals who can provide a professional reference for a job include previous employers, managers, colleagues, clients, business contacts, and others who know your workplace skills and are willing to recommend you for the position....

There are many benefits of using technical analysis (TA) on penny stocks, but you will see that with such low-priced shares there are also some limits and risks. Basic TA Patterns and Terms If you observe an investment or a market over a long span of time, you’ll be able to see certain trends. There is no shortage of charts, graphs, and statistics that come from people observing patterns, and such tools can be of great use if you want to conduct a technical analysis (TA)....

The words you include in your cover letter (and your resume) can show the hiring manager why you’re a strong candidate for the job and help you get selected for an interview. Here’s an overview of the types of keywords that can be included in a cover letter, how to use them, and examples of the best keywords to use to show a prospective employer that you’re a match for the job....

Beyond that, emails like these are relationship builders. As with thank-you notes, sending one shows that you are a thoughtful person who values other people’s time and efforts. The best networking happens when you think about what you can do for other people, rather than how people can help your career. Here’s the best way to congratulate someone on getting promoted, what to say, what not to say, and examples you can use as a starting point for your own message....

Read on for common reasons why employees want to transfer and advice on how to write a letter requesting a job transfer. Plus, see a sample job transfer request letter, which you can use for inspiration while writing your own. Why You May Need to Transfer There are several reasons why you may need to write a job transfer request letter. Perhaps you are looking for a new role, with additional challenges and responsibilities....

Credit Scores Basics Your credit score is like a numeric grade that indicates your creditworthiness at a specific point in time. There are several ways you can get your credit score, most of them free. Your credit score is based on information in your credit history, including credit cards, loans, and other debt accounts listed on your credit report. Information like the account balance, payment history, credit limit, and the account’s age is listed on your credit report and used to calculate your credit score....

On July 16, the rolling 7-day trailing average for job postings on the site was 36.5% higher from its Feb. 1, 2020, pre-pandemic baseline on a seasonally adjusted basis, Indeed Hiring Lab, the website’s research arm, said in a report Wednesday. But the postings, which can indicate trends in labor activity in real time, increased in May, June, and July at a slower pace than in March and April, as the chart below shows....

Here’s a quick look at the most significant economic indicators of the day and what they tell us. Retail Sales Retail sales increased 0.5% to $665.7 billion in March from February, according to the Census Bureau. The report showed inflation beginning to restrict how much shoppers are buying, economists said. Drivers spent 8.9% more at gas stations as fuel prices spiked, while spending on vehicles fell 2.1%. Shoppers spent less money at home and more going out and about, with online shopping receding 6....