How to Manage Unpaid Debt From a Deceased Family Member
Experiencing the death of a loved one is traumatic enough, but worrying about what happens to their debt adds more heartache to the situation. Depending on the preparations your family member made in advance, surviving heirs might have to face this extra layer of grief. A family member’s unpaid debt is usually paid from their estate before their will is …
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5 Estate Planning Moves to Make ASAP
One of President Biden’s campaign promises was to introduce tax reforms that roll back various Trump era policies while increasing tax rates for some of the wealthiest Americans. He will expand federal income tax for those earning $400,000 or more, plus increase capital gains and payroll taxes, in addition to expanding estate tax. If you are in the process of …
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How to Make Money on Shopify
Have you dreamed of starting a business of your own? For many aspiring entrepreneurs and side hustlers, that dream has become a reality by making money on Shopify. Ecommerce is a booming business — statistics show online retail sales increased by 30% in 2020, a trend that was accelerated due to the COVID-19 pandemic. Starting a Shopify store can give …
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LLC vs. S-Corp — What’s the Difference and What’s Best for You
One of your first steps to making your self-employment path or a new business official is registering as either an LLC or S-Corp. Although registering under these designations requires certain fees and takes some legwork to understand which version is best for your situation, the potential tax benefits can be worth it. Here’s what to know about the differences between …
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6 Financial Goals for the New Year
Not interested in setting a traditional New Year’s resolution, like losing weight or eating healthier? You’re not alone. A majority of Americans are abandoning resolutions of years past, and instead, are focusing on more practical goals in today’s unpredictable world. One survey for Affirm found 62% of Americans are saving money for the future in 2021, while 54% want to …
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6 Unexpected Ways to Invest Your Tax Refund
Wondering what to do with your tax refund? The average U.S. tax refund is $2,924, according to IRS data, which is a significant boost to your savings or investments, if used strategically. Once you understand the basics of income taxes and are sure your tax return is correct, you can move on to deciding how to spend your refund. Most …
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