The U.S. inflation rate rose to 8.5% in the year through March, up from 7.9% in the year through February, marking the fastest 12-month clip since 1981, the Consumer Price Index showed Tuesday. A 1.2% increase in March alone was double the pace just a couple of months ago. More than half of that stemmed from gas, which rose 18.3%, almost triple the February pace. Food was another big factor, with grocery store price hikes accelerating to 1....

It is a financial analysis tool that helps business owners and analysts to understand the relationship between costs, volume, and profits. Businesses can use it to estimate how many items they need to sell to meet their profit goals. If you’re a new business owner, this method can seem complicated, but we’ve broken it down into simple steps you can follow to do an effective cost-volume-profit analysis. What Is Cost-Volume-Profit Analysis?...

That’s why the Series I bonds were introduced as the newest member of the U.S. savings bonds family. Each Series I bond pays interest based on two components: a fixed rate of return plus a semi-annual variable rate that changes with fluctuations in inflation as measured by the consumer price index, or CPI. That may sound complicated, but it can be quite simple. Learn how you can take advantage of it as a new bond investor....

What’s the Difference Between Owner’s Equity and Retained Earnings? Owner’s equity refers to the assets minus the liabilities of the company. All owners share this equity. Owner’s equity belongs entirely to the business owner in a simple business like a sole proprietorship because this form of business has just a single owner. It belongs to owners of partnerships and LLCs as agreed to by the owners. Three categories on a balance sheet represent the business’s financial position from an accounting standpoint: assets, liabilities, and owner’s equity....

Payroll Tax Inclusions U.S. federal payroll taxes include several components. Federal Income Tax Withholding These are taxes withheld from employee pay for federal income taxes owed by the employees. The amount of federal income tax is determined by information employees provide on the Form W-4 they complete when hired. This form can be changed by the employee at any time and as often as the employee wishes. Social Security and Medicare Called FICA taxes (Federal Insurance Contributions Act), this tax is shared between employees and employers....

Due in part to new and growing technology, online shopping has become incredibly easy and convenient. It also offers a greater selection than one storefront, opening the doors to products and services that may not be available at a nearby brick-and-mortar store. While online shopping comes with a number of benefits, there are drawbacks to know about, too. Let’s dive deeper into the pros and cons of shopping online....

How Much Is the Adoption Tax Credit? The adoption tax credit is indexed for inflation, so it increases a little from year to year. The credit amount is for each eligible child: 2023: $15,9502022: $14,8902021: $14,440 You wouldn’t be eligible for the full tax credit if you had only $10,000 in qualifying expenses in any of the years listed above because your credit is limited to the amount of you spend....

“The last decade has very much been the exception rather than the norm,” they wrote in a commentary. The benchmark stock index only fell 0.2% last week, but that fifth straight down week left it 9.3% lower than at the beginning of April. And there was no relief on Monday, either. It dropped 3.2% to close at 3,991.24, its lowest point in more than a year, and even farther into correction territory—down 17% from the record high reached in January....

Sincerely, Curious in Chicago Dear Curious, This is a great question. A longer mortgage repayment term comes with benefits like lower monthly payments and more annual tax deductions of the mortgage interest you pay. But does that outweigh the benefits of paying off the mortgage faster? Paying off a home loan early not only reduces your monthly expense, but also saves you money on the interest you’d pay over the lifetime of that loan....

What’s the Difference Between Renting and Buying? There are also upfront costs associated with buying a house to consider. Most importantly, you will need to get a mortgage, which will require a down payment of at least 20% of the purchase price if you do not want to pay for private mortgage insurance (PMI). In other words, you save money if you can put more money down at the beginning. Let’s say that you are willing to pay for PMI, so you put down 15% of the house purchase price....

You might be surprised to learn that doing your own stock picking is not the primary strategy experts recommend for most investors. Sure, it has its advantages. But it also brings with it some major risks that mean it probably shouldn’t be the approach you take with most of your investment portfolio. What Is Stock Picking? Stock picking is the process of choosing individual stocks to invest in rather than buying shares of diversified funds....

There are key differences between the two types of homes and a number of factors to consider before landing on one side or the other. Let’s break down the various aspects of a starter home vs. a forever home so you can choose with confidence. What’s the Difference Between a Starter Home and a Forever Home? A forever home, meanwhile, is the only one you plan on buying. That means you’ll need to find a home that suits your current needs and all your future needs, too....

Depending on the situation, they may just need a bit of assistance from you, or it might be necessary for you to fully take over their finances. This doesn’t have to be an exceptionally difficult process, however. Legally taking over your a parent’s finances will involve a lot less time and stress if you approach it the right way and have knowledge on your side. When To Take Over Your Parent’s Finances When it comes to helping your parents as they age, it’s best to be proactive....

Powell’s speech came just as the Fed’s preferred inflation gauge, the personal consumption expenditures (PCE) index from the Bureau of Economic Analysis showed that inflation is in fact retreating. The index was 6.3% higher in July than the same period last year, down from a 6.8% increase in June. Month to month, PCE actually dropped 0.1% in July from the month prior. And in good news for all of us, personal income is on the rise, jumping 0....

Here’s what you need to know about medical malpractice insurance as a healthcare practitioner. Why You Need Medical Malpractice Insurance Most states do not require practitioners to have malpractice insurance. But even in states where it’s not required by law, it may be required by a hospital where a doctor operates or a healthcare plan that the doctor participates in. It can also be critical to a practitioner’s business. Research published by the American Medical Association found that 34% of physicians have been sued at some point in their careers....

A combination of factors, including the response to the coronavirus pandemic, created this extreme volatility. What Impacts Gas Prices? High gas prices are created, in large part, by high crude oil prices. Oil costs account for 43% of the price of regular gasoline. The remaining 57% comes from distribution and marketing, refining, and taxes. These inputs don’t change as frequently as oil prices do. When oil prices rise, you can also expect to see the price of gas eventually rise at the pump....

Deducting Employee Achievement Awards Businesses can deduct certain award costs, but there is a limit. You can deduct up to $1,600 for awards of tangible personal property given to any one employee annually if they are a part of a written plan or $400 for awards outside of an established plan. You may qualify to deduct more if the award is a part of a written plan. For example, you can deduct the cost of a watch for 30 years of service or a plaque for a safety award....

The average rate offered for a conventional 30-year fixed mortgage fell to 5.43% from 5.45% the previous business day, while the average 15-year rate rose to 4.49% from 4.45% the previous business day. Last month both reached their highest points since at least 2019, and likely much farther back: 6.19% and 5.26%, respectively. Now the 30-year is the lowest it’s been since early April, before those peaks. (Our daily mortgage rate data only goes back to April 2021, but our data on yearly highs and lows dates back to 2020, so we know the recent peaks were the highest since at least 2019, and if other measures are any indicator, may have been the highest in over a decade....

Typical paid holidays include New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Veterans Day, and Christmas Day. Which days are paid days off can also vary depending on whether the employer is in the public sector or the private sector. What Are Paid Holidays? Paid holidays give employees a day off work without missing out on pay. Private employees in the U.S. receive an average of eight paid holidays per year, according to The Bureau of Labor Statistics, with 81% of private industry workers receiving access to paid holidays as of 2021....

The federal government’s budget for fiscal year 2022 estimated that the fiscal year 2022 budget deficit would be $1.15 trillion. The Congressional Budget Office (CBO) estimated by July 2021 that the fiscal year 2021 deficit would be $3 trillion. The budget deficit in 2020 was about $3.1 trillion, the largest in U.S. history. The national debt was at $28.4 trillion when fiscal year 2022 began on Oct. 1, 2021. On Feb....