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Posts tagged finance

An Introduction to the Double-Entry B...

An Introduction to the Double-Entry Bookkeeping System
Tweet Businesses must have methods for recording their financial transactions; this include purchases, sales, payments, and receipts. This daily process, known as bookkeeping, has multiple forms of entry systems. One of the most popular is the double-entry bookkeeping system. MAIN DESCRIPTION The underlying concept of double-entry bookkeeping [...]

Checks and Cards: Plastic Has Not Rep...

Checks and Cards: Plastic Has Not Replaced Paper
Tweet When looking at the ever-so exciting world of non-cash payment options, you basically have two widespread options nowadays: paper and plastic. It’s pretty obvious that one of those is more popular than the other, but make no mistake; the paper check isn’t dead yet, not even close. That’s because there are certain situations that simply [...]

Should Capital Gains Be Taxed Differe...

Should Capital Gains Be Taxed Differently?
Tweet Capital gains are monies derived from increased value or earnings of capital assets, but only upon realization of the profits. Capital assets are defined by the IRS as pretty much, “everything you own.” When an investment increases in value, that value is taxed at a specific rate called the capital gains tax. There are multiple reasons [...]

Tax Issues with early Distributions f...

Tax Issues with early Distributions from Retirement savings.
Tweet Taxpayers may sometimes find themselves in situations when they need to withdraw money from their retirement plan early. What they may not realize is that that it may mean a tax impact when they file their return. To discourage the use of IRAs for the purposes other than retirement, tax law imposes a 10% additional tax on early distribu [...]

How does a credit score affect a mort...

How does a credit score affect a mortgage rate?
Tweet Whether you are considering refinancing your existing mortgage or you are buying a home, it is a good idea to find out what your credit score is because that can have quite an impact on the rates you will be offered.  Low credit score: High rate  When a loan is being underwritten, lenders focus in on the amount of risk they are assuming [...]

Dealing With Business Debt

Dealing With Business Debt
Tweet Running a small business isn’t easy. There are so many tasks to handle and issues to solve that it can feel like walking a tightrope with no safety net. Managing your company tasks becomes even harder when you’re dealing with debt. It’s like trying to spin plates while walking that same tightrope. Unfortunately, itR [...]

Capital Gains, What you need to know

Capital Gains, What you need to know
Tweet Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When you sell a capital asset, the difference between the amount you paid for the asset and its sales price is a capital gain or [...]

4 Effective ways of Managing Your Fin...

4 Effective ways of Managing Your Finance
Tweet Proper management of finances is an utmost necessity in today’s world as you never know when another recession would hit the financial market and lead you to troubled waters. Especially after the back to back recessions in and after 2008 the world economy has crumbled badly and many well to do individuals suddenly found them grappling w [...]

Advantages of Filing a Tax Return Ext...

Advantages of Filing a Tax Return Extension
Tweet The Advantages of Filing a Tax Return Extension Although filing a tax extension may seem like an action that only irresponsible or unprepared people take, there are actually some advantages to the strategy. Many people actually use it to their financial advantage. This article will list a few reasons that you might consider filing a tax [...]

When Should I Start Focusing on Perso...

When Should I Start Focusing on Personal Finance?
Tweet In a world where people use credit cards left and right and rack up debt at every turn, it can be challenging for young people to understand how to correctly manage their money. If you are in your twenties or early thirties and are struggling to understand and deal with your own personal finances, don’t worry! There are a few simple st [...]

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