Accounting

1099 Form Types

1099 Form Types

Form 1099 is an informational return filed with your state and the Internal Revenue Service (IRS). This form usually reports income an individual or entity pays to non-employees, ...

10-Year Financial Goal Planning

10-Year Financial Goal Planning

Many people set goals to achieve their desired results, such as weight loss, professional advancement and athletic performance. You can also use this strategy to obtain your ...

What Is a 401(a) Buyout?

What Is a 401(a) Buyout?

It is an unfortunate fact of life that employers sometimes choose to downsize their work forces. There is the possibility that at some point in your career, you will be offered a ...

Charitable Gift Annuity Rates

Charitable Gift Annuity Rates

If you want to donate a large sum of money to a charity, but you don't want to endanger your own long-term economic security, you might consider a charitable income annuity. In ...

5 Questions to Ask When Investing

5 Questions to Ask When Investing

A smart investor is an informed investor, but you can't be informed if you don't ask the right questions. Even when dealing with someone you trust, the onus is on you to protect ...

5 Steps to Strengthen Your Finances

5 Steps to Strengthen Your Finances

You probably have plenty of motivation to strengthen your finances. Enjoying financial security, providing for a family, sending kids to college and saving for retirement are ...

5 Things to Know Before Signing a Rental Lease

5 Things to Know Before Signing a Rental Lease

For most renters the first question they ask when looking at potential properties is the rent amount, and when the rent might increase. If they have pets, the second question is ...

529 Plan Basics

529 Plan Basics

Saving for college can be expensive. That is why it's imperative for parents of college-bound children to plan ahead. One way to start saving for college is with a 529 Plan. These ...

529 Plan Contribution Limits

529 Plan Contribution Limits

Qualified tuition plans, commonly known as 529 plans, after the section of the Internal Revenue Service code that pertains to them, allow you to save money for college while ...

7 Kinds of Interest Rates

7 Kinds of Interest Rates

Whether on a mortgage, a credit card or a business loan, financial institutions take great pride in advertising their low, low interest -- unless, of course, they’re ...

7 Steps in Overhauling a Budget

7 Steps in Overhauling a Budget

Budgeting sounds easy enough in principle, but we all know that life's realities make saving and clamping down on monthly expenses harder than expected. Transforming your budget ...

72(t) Fixed Annuitization Rules

72(t) Fixed Annuitization Rules

In most circumstances, those who are under age 59 1/2 who want to take money out of their retirement accounts or annuities must pay a 10 percent penalty to the Internal Revenue ...

8 Steps to Creating a Contract

8 Steps to Creating a Contract

A contract is a legally binding agreement between two parties. Its purpose is to outline the responsibilities and obligations of each party. A contract is utilized in various ...

9 Factors the IRS Uses to Decide Business Losses

9 Factors the IRS Uses to Decide Business Losses

The Internal Revenue Service (IRS) uses a series of nine factors to decide if an activity is a business or a hobby, which helps to determine if losses are tax deductible or not. A ...

Absorption Costing vs. Activity Based Costing for Decision Making

Absorption Costing vs. Activity Based Costing for Decision Making

Businesses analyze their costs regularly in order to make sound decisions. These include product costing, service costing and the cost of internal processes. Absorption costing ...

How to Account for a Depreciated Asset Sold

How to Account for a Depreciated Asset Sold

A company reports an asset’s original cost on its balance sheet. Depreciation removes a portion of this cost from the balance sheet each accounting period. An asset’s ...

How to Account for Sweat Equity

How to Account for Sweat Equity

Accounting for your sweat equity during the start-up phase of your business can be complicated. Sweat equity is the work that you do to launch your business. You are not paid for ...