Many mortgage shoppers are confused about the difference between a loan’s interest rate and its APR, or annual percentage rate. Understanding APR can be extremely valuable, because it can allow you to compare different loans more effectively and figure out which one is truly best for you. But you’ll also want to understand the limits of APR, and why a loan with a better APR might not necessarily be a better loan given your specific circumstances.
Have you ever thought about bartering as a way to get the goods and services you need for your business? A growing number of businesses are finding ways to use the bartering system as a means to avoid using up their company’s cash. A simple bartering arrangement involves two parties trading items of similar value. For example, let’s say your business owns a building located next to a telephone company. An internet service provider might be
If you are expecting a tax refund, you might consider investing your refund or using it to increase your financial security. While everyone’s needs are different, here are some optional uses of your refund that may work for you.
Each year, certain tax figures are adjusted for inflation. While most figures are unchanged versus 2016, there is more than a 7% increase to the maximum earnings subject to social security tax. Take note of these numbers to use in your 2017 planning.
February 28 Payers must file information returns (except certain Forms 1099-MISC with non-employee compensation payments in box 7, which are due before February 1) with the IRS. (Except for certain Forms 1099-MISC outlined earlier, the deadline is March 31 if filing electronically.) Forms 1095-B and 1095-C due to the IRS, if filing on paper. March 1 Farmers and fishermen who did not make 2016 estimated tax payments must file 2016 tax returns and pay taxes in
“Annuity doublers” are being touted as a new alternative to long-term care insurance. But are they a good idea? Long-term care plans have become much more expensive lately, pricing many older people out of the market. As an alternative, some companies are offering annuities that have a “nursing home doubler.” With this option, the amount of monthly annuity income you would normally receive is doubled during any period you’re in a nursing home, which will help
Seniors who are dependent on others due to illness, disability or cognitive impairments may be susceptible to financial abuse and fraud. The culprits may be outside predators, hired caregivers, or in some cases even relatives. If you or a family member is increasingly dependent, there are some simple but important steps you can take to reduce the chance of abuse. The most important step is to have a trusted family member or friend be involved in
An estate planning technique that was very popular some years ago is still present in many people’s wills, especially if they haven’t reviewed their estate plan in a while. But this technique – called a “bypass trust” – might now actually increase taxes rather than decrease them for many people, as a result of changes in the law in the last few years. If you haven’t reviewed your estate plan recently, now is a good time.
Voting is the foundation of any democratic system, but it isn’t easy if you’re in a long-term care facility. Residents of nursing, assisted living and other facilities face a number of challenges in voting, from registering to actually casting a ballot. When you move into a nursing home or assisted living residence, your address changes, which means you’ll probably need to re-register to vote based on your new address. You can register in person, by mail,
When Judy Hanttula came home from the hospital after surgery last November, her doctor’s office called with bad news: Records showed that even though Judy had signed up for Original Medicare, she was nevertheless enrolled in a Medicare Advantage plan. Original Medicare wouldn’t pay for the surgery because she now had an Advantage plan, and the Advantage plan wouldn’t pay for it because her doctor and hospital weren’t in its network. So Judy was on the
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