Tag: Quantum Computing
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What is a credit report?
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Definition and Example of a Credit Report How Does a Credit Report Work? Credit Reports vs. Credit Scores How to Obtain Your Credit Report Definition and Example of a Credit Report A credit report is a detailed summary of your credit activity, including your loan repayment history and the status…
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Key financial goals to achieve in life
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Setting clear goals is the key to financial success. Having goals for what you want to achieve with your money can provide you with a feasible plan and a reason to stay motivated. But which financial goals are the most important to achieve in your life? Live Within Your Means…
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How to Calculate and Pay Freelance Taxes
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You are considered self-employed if you have a business that is not a corporation. You must pay self-employment taxes based on your net income from your business. What does it mean to be self-employed? According to the Internal Revenue Service (IRS), you are considered self-employed if any of the following…
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How to Buy a Home with Bad Credit
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You may have other options in addition to a bad credit mortgage Request a referral Request a referral if your regular mortgage broker is unable to assist you. Most lenders operating in this space have connections in the subprime market. They can always refer you to a lender who can…
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Shipping Strategies: How to Offer Free Shipping, Flat Rate, and More
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E-commerce is experiencing a boom – you could say – more than ever before. As technology continues to advance and the impact of the COVID-19 pandemic persists on how people shop, businesses must keep up with the best practices in shipping. Why You Need to Choose the Right Shipping Strategies…
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5 Fees for Mutual Funds You Should Ask About Before Investing
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1. Cost Ratios: These ongoing fees are present in every mutual fund The operating cost of a mutual fund is financial. The operating cost of some funds is higher than others. Regardless of the cost, all mutual funds have a fee referred to as the cost ratio, or sometimes known…
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What is an heir?
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This article explains the concept of an heir and clarifies how the appointment of an heir works, the differences between heirs and beneficiaries, and the types of heirs. How Heir Appointment Works An heir is a person who is eligible to receive assets upon the death of a relative. Typically,…
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Basic Budget Preparation
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The basic budget is considered to be the budget that only covers essential needs. You can switch to this budget if you lose your job or experience a salary reduction. You can move to a basic budget if you are trying to get out of debt or work towards a…
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Who pays the bills of the deceased person?
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Unpaid bills become the responsibility of the deceased person’s estate The estate pays, not the survivors When someone dies who has unpaid debts, those debts do not pass directly to the surviving family. In other words, they do not inherit the bills. However, these debts do not simply disappear. Exceptions…
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Benefits of the Year Before University or High School
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In this article, we will talk about the benefits of taking a gap year from college or high school and we will divide it into subheadings with a brief description for each. Who should consider taking a year off from studying? Of course, there are students who already know what…
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What is debt reduction?
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Debt reduction is the process of reducing the financial leverage of companies, households, or governments by decreasing debt. Debt reduction often occurs during difficult economic conditions and may be accompanied by asset sales to pay off debts. How does debt reduction work? Debt reduction is an action taken by companies,…
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When can you collect unemployment benefits if you are laid off?
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Termination of Employment by Mutual Agreement Most employees work at the will of both parties, which means that the employment agreement can be terminated at any time by either party. One of the eligibility criteria for collecting unemployment benefits is being laid off through no fault of your own. This…
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CD vs. IRA: Which One Should I Choose?
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Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs) are two ways to earn money from your funds. However, IRAs are long-term investment accounts that provide tax advantages and help you fund your retirement, while CDs are typically short-term investments that offer modest returns and mature after five years or…
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How to Give a Roth IRA Gift
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Qualified Roth Individual Retirement Accounts (IRAs) help save and invest money for retirement without paying taxes by depositing contributions using funds that have already been taxed. Once the money is deposited into the account, it will not be taxed on its growth or on withdrawals made after reaching age 59…
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How to Buy Your First Car
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When buying your first car, you may spend hours researching different brands, models, dealerships, and even the various colors for your potential vehicle. However, if you plan to finance your first car, it’s also important to explore financing options and take the necessary legal steps to become the owner of…
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What is total and permanent disability?
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Definition Total and Permanent Disability (TPD) is a classification that determines an individual’s eligibility for government disability benefits or disability insurance benefits. Understanding Total and Permanent Disability Definitions of total and permanent disability vary from one organization to another. The Social Security Administration (SSA) considers a qualifying disability to be…
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What is Form 1099-DIV?
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The 1099-DIV form is a tax document used by financial institutions to report dividends and distributions to the investor (you) and the Internal Revenue Service. When you own shares that pay dividends or a mutual fund that distributes capital gains, you will receive a 1099-DIV form from the IRS by…
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How to Track Your References
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Introduction Employers typically check references late in the application process, making it one of the last steps before you find out whether you got the job. If you’ve planned well, you have a list of references ready to share with the potential employer. You are also prepared to inform your…
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How to Request Time to Think About a Job Offer
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When You’re Unsure About the Job How much time should you ask for? What to say when asking for more time? Options for getting an extension What not to say to the hiring manager Risks of delay When You’re Unsure About the Job If you have a feeling of uncertainty…
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What is wage transparency?
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Wage transparency is a practice where employers disclose salary data during the hiring process or within the organization. Different companies vary in degrees of wage transparency, ranging from providing salary ranges for job titles to offering a complete list of salaries for everyone in the company, from the CEO to…
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The Rule of 72: How long does it take to double your money?
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How the Rule of 72 Works The Rule of 72 is a mathematical formula that allows you to estimate the amount of time it will take for your capital to double based on a specified rate of return. It’s a good educational tool to illustrate the effects of different rates…
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Why do ordinary investors achieve returns below the average in the market?
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Research conducted by Dalbar, a company that studies investor behavior and analyzes market returns for investors, indicates that the average investor consistently achieves returns below the average. Buying at Heights Studies show that when the stock market rises, investors increase their investments in it. When the market declines, they pull…
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Information about withdrawing money from a 401(k) account at age 55
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Penalty Tax at 10% Withdrawals from a 401(k) account prior to age 59.5 are typically subject to a 10% penalty tax unless there are special circumstances. The 10% rate applies to the amount withdrawn. You will also pay income tax on the withdrawn amount itself. Note: Contributions rolled over to…
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What You Need to Know About 401(k) Loans Before Taking One
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How Does a 401(k) Loan Work? 401(k) loans provide an opportunity to access your retirement funds in times of financial emergencies. However, before you decide to borrow, you must fully understand the process and potential implications. Here are key things you need to know about 401(k) loans before taking one.…
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How to Convert a 401(k) Account to a Roth IRA
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What is the conversion of a 401(k) account to a Roth IRA? The process of converting a 401(k) account to a Roth IRA involves transferring funds from a 401(k) account to a new or existing Roth IRA. Many people consider converting to a Roth IRA after leaving a previous employer…