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Check out the guide on Coronavirus and Your Money.
The Motley Fool share four personal finance tips for people that are critical as we make it through this pandemic. These tips are probably what you have heard before, but it bears repeating especially during the pandemic.
Does your spending increase every time your income does? This is called lifestyle inflation, and it undermines your ability to meet your financial goals. Think back to when you first entered the workforce. You probably lived very simply in those first few years. But then, your income rose and you upgraded your living situation, bought a better car, and frequented nicer restaurants. Read the rest of the tips.
The Financial Intermediation Research Society Conference invites the attendees to submit theoretical and empirical papers in all areas of finance and it is anticipated that most participants will be from universities, central banks, regulatory agencies and international financial organizations.
Source: FIRS Conference (May 2019), Financial Intermediation Research Society Conference, Savannah USA – Conference
The key to fixing your tax withholding is having the right information on file with your employer. The way that you set up your tax withholding at work is by using an IRS form called the Employee’s Withholding Allowance Certificate. Numbered Form W-4 by the IRS, this form looks deceptively simple, with just a handful of lines that seemingly includes mostly basic information about yourself and your personal and financial situation.
Source: How to Fix Your Tax Withholding for 2019
The IRS will work with filers who find themselves unduly burdened by taxes. It’s a concept known as an offer in compromise, and it effectively entails you offering — and potentially paying — a portion of your outstanding tax bill, as opposed to the entire sum you’re on the hook for.
Source: Stuck With a Whopping Tax Bill? This Solution Might Work.
1) Don’t rush into a partnership.
Here are the lessons I learned from my first attempt at running a business, making my second time around much smoother.
Source: 5 Things Not to Do When You’re Running a Small Business
If you are like me and already use Apple Pay, then this is a nice addition. The Apple Card will be a credit card that you can link to Apple Pay. It will also offer a cash back. Apple is offering 2 percent cash back on purchases made through Apple Pay using an Apple Card, and purchases from Apple will get 3 percent cash back. Purchases made through the physical card will get just 1 percent cash back, though. This will work well in cashless places like The Grey Market here in Savannah, and the Mercedes Benz Stadium in Atlanta.Coming summer 2019.
Source: Apple announces Apple Card credit card – The Verge
However, many self-employment deductions remain in place.Assuming you reviewed IRS Publication 587, “Business Use of Your Home,” and determined that you qualify, what are the home office expenses you can write off? They are covered in IRS Form 8829, “Expenses for Business Use of Your Home”, and the corresponding instructions. You will need to file Form 8829 with your taxes to claim your deduction.Expenses can be divided into two categories: direct and indirect expenses.
Source: Top 10 home office tax deductions: What you can and can’t deduct | cleveland.com
However, there’s a more favorable filing status known as head of household, which some unmarried people are allowed to choose. There are restrictions on who qualifies to be a head of household, but the tax benefits if you do are substantial.
Source: Head of Household Tax Filing Status: Claim It If You Can
“All the Money in the World” by Laura Vanderkam and more.
Most personal finance books aren’t delivering for readers – but these are the exception.
Source: The 7 Best Personal Finance Books You Need for 2019 – TheStreet