- Sole Proprietorship vs. LLC
The two most popular ways of organizing a small business are LLCs and sole proprietorships. They are less costly and complicated compared to the alternatives of corporations and partnerships. There are key differences between these two widely used structures, including the… read more…
- PPP Loan Acceptance Rates in the First and Second Rounds of Funding – 2020 Study
Overseen by the Small Business Administration (SBA), the Paycheck Protection Program (PPP) is the largest fixture of federal coronavirus financial relief programs. The program provides forgivable loans to small businesses, defined as those with fewer than 500 employees, to cover payroll and associated costs. There have been two rounds of funding through the program. An… read more…
- What to Know About Traveling During Coronavirus
Since the coronavirus pandemic went global in early 2020, travel and tourism have been heavily impacted. Millions of people have seen their trips canceled by airlines and tour companies, with millions more choosing to cancel their trips out of caution and fear. Those who still need to travel for essential reasons are forced to take… read more…
- How The Coronavirus Has (and Hasn’t) Hit Housing
Times of economic uncertainty and market instability tend to affect the housing market, frequently including drops in average home prices. Yet for all the economic and financial convulsions of the coronavirus pandemic the housing market has remained strikingly steady. The purchase prices of residences have edged higher while the cost of renting a residence has… read more…
- What Happens If You Default on a Business Loan?
Taking out a business loan can be a powerful tool to launch your startup or scale an existing business to new heights. However, failing to meet repayment obligations can lead to significant financial and legal challenges. This includes a potential hit to your credit score and difficulty securing future financing. Defaulting on a business loan… read more…
- Estate Planning for Business Owners
Estate planning can take on a new dimension when you own a business. Not only do you need a strategy for managing personal assets but you also need to consider what will happen to your business in the long term.… read more…
- How to Retire in Croatia: Costs, Visas and More
When you think of Croatia, do you think of the beautiful Dalmatian seacoast where they shot “Game of Thrones”? Or perhaps Croatia conjures up visions of Plitvice Lakes National Park’s waterfalls and blue water. Or, if you’re a city person,… read more…
- Estate Planning Documents: What Do You Need?
Estate planning begins with knowing which documents you need and making sure they are up to date. Among the most common such documents are wills, trusts, powers of attorney and designations of beneficiaries. Understanding how each document works and what… read more…
- Pivoting Your Business for the Coronavirus Economy
So you’ve got a business that’s impacted by the coronavirus economy. Even with PPP loans and other government resources for small businesses, your revenue is suffering and you’re not sure if you can afford to stay in business. But rather than shutting down, should you be thinking of pivoting your business? It could mean the… read more…
- How to Invest in Sector Funds
Mutual funds can offer a simplified approach to portfolio diversification. When you buy a mutual fund or exchange-traded fund (ETF), you can own a collection of investments rather than having to purchase individual stocks. Sector funds are a type of… read more…
- How the CARES Act Affects Current College Students
The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes over $2 trillion in federal funds to help address the economic fallout from the coronavirus global pandemic. The bill includes several provisions that affect college students, including deferred student loan payments and money for carryover funding of colleges and universities around the U.S. At the… read more…
- Working With a Financial Advisor Online
A financial advisor can help you create a plan for managing your money, including saving and investing for retirement. Traditionally, you’d need to meet with a financial advisor in person to get advice, but these days many financial advisor firms allow you to connect with a professional online. Working with a financial advisor online has… read more…
- Are You in the Top 1%?
The term “top 1%” typically refers to people among the top 1% wealthiest Americans, as measured by either annual income or net worth. The income of those in the top 1% is many multiples above that of the average American: According to… read more…
- What Is a Constructive Trust?
Trusts can be helpful in estate planning if you want to avoid probate or minimize estate taxes. A revocable living trust, for example, might be useful if you have assets you want to pass on to your beneficiaries that aren’t… read more…
- Mortgage Forbearance vs. Mortgage Forgiveness: What’s the Difference?
When you’re struggling to make mortgage payments, you may be wondering what options you have. Mortgage forbearance programs can help provide temporary relief from payments, while mortgage forgiveness can reduce the amount you have to pay back to your mortgage lender. While they may sound similar, they work very differently. If you’re wondering how the… read more…
- Intentionally Defective Grantor Trust (IDGT)
Establishing a trust as part of your financial plan can yield certain benefits, including the potential to minimize estate taxes. An intentionally defective grantor trust (IDGT) is a type of irrevocable trust that can be used to limit tax liability… read more…
- How to Retire in Cambodia: Costs, Visas and More
Cambodia is known for its stunning landscapes, vast temples, and low cost of living. Cambodian people are often noted as being some of the friendliest people in the world. From its rich culture to unique ecosystem, there are plenty of… read more…
- How to Start a Business in Indiana
Thinking of starting a business in Indiana? The Hoosier State’s low costs for doing business and low costs of living combined with a business-friendly regulatory environment and well-built infrastructure can attract people planning to start businesses. On the other hand,… read more…
- How to Start a Business in Maryland
If you’re considering starting a business in Maryland, you’ll likely be impressed with the state’s well-educated populace, one of the country’s lowest poverty rates and the strong economic presence of defense contracting and medical research. Tax planning is a key… read more…
- States Where Residents Are Financially Hurting the Most During COVID-19 – 2020 Study
Despite various government relief programs, the coronavirus crisis has already affected the finances of many Americans. Over the past eight weeks, more than one in four individuals filed for unemployment. Though unemployment benefits are expanded under the CARES Act, enhanced benefits are scheduled to end on July 31, 2020. Additionally, though many businesses say they… read more…
- What Is a Limited Liability Partnership (LLP)?
A partnership is a business structure with more than one owner, where each partner shares in the responsibilities, profits and liabilities of the business. Among partnership options, a limited liability partnership (LLP) stands out by blending features of both traditional partnerships and corporations. An LLP provides enhanced liability protection for its partners, shielding personal assets… read more…
- What is a Limited Partnership (LP)?
A limited partnership (LP) has two kinds of partners: One who does not get involved in daily management and another who is involved in daily management and bears more personal liability. It’s similar to a general partnership but with some… read more…
- How to Disinherit an Heir
So you’ve decided that a family member won’t be getting an inheritance, after all. Maybe you have an ungrateful or irresponsible family member you want to cut out of the will. Or maybe there’s someone you’ve decided to favor at… read more…
- Certified Fraud Examiner (CFE)
Certified Fraud Examiners are trained in fraud examination activities like forensic accounting. Certified Fraud Examiners (CFEs) have a variety of job options, such as forensic accountants, compliance officers, internal or external auditors, state or private investigators and law enforcement. CFEs… read more…
- How to Retire in France: Costs, Visas and More
Do you dream of spending your retirement drinking Bordeaux and champagne in Paris? Perhaps you want to spend it in a beautiful seaside villa in Biarritz or the ski the Alpine slopes of Chamonix at the base of Mont Blanc? If France… read more…