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Insurers often charge higher rates for certain makes and models of cars due to their high rates of accidents, theft, and insurance claims. Before buying a new set of wheels, do your research to find out how much it might cost to insure it—and avoid any surprises later. What Do Make and Model Mean? An automobile’s “make” is its brand or manufacturer, such as Honda or Subaru. Cadillac, Chevrolet, and GMC are three makes that are all manufactured by General Motors....

Understanding 401(k)s One of the most popular options for employer-sponsored retirement savings plans is the 401(k) plan. Traditional 401(k) contributions are made with pre-tax dollars, meaning they reduce your taxable income and can lower your tax bill. Also, the money in your 401(k) grows on a tax-deferred basis. In other words, you don’t pay taxes on the investment earnings over the years. However, you pay income taxes on your distributions or withdrawals....

If filing for bankruptcy is the financial strategy you have chosen for reorganizing your finances, you should learn how to make the most of the automatic stay feature. Timeline and Exceptions In most cases, the stay against creditor action goes into effect when someone files for bankruptcy, hence using the term “automatic” in an automatic stay. However, there are some reasons why a stay can be delayed or lifted:...

How Soon Will Your Credit Score Improve? Unfortunately, there’s no way to predict how soon your credit score will go up or by how much. We do know that it will take at least the amount of time it takes the business to update your credit report. Some businesses send credit report updates daily, others monthly. It can take up to several weeks for a change to appear on your credit report....

That’s the most common deadline for the IRS, but the agency can extend this period to six years under some circumstances. This can happen if the income you report is more than 25% off from what it actually was. Most states follow this same three-year rule of thumb, but some have longer statutes of limitations. Here’s how some states differ from IRS rules. Statutes of Limitations by State Several state tax authorities share statutes of limitations similar to that of the IRS but with differences in the details....

What Is a Patent and How Much Does It Cost? A patent is a title or grant issued by the USPTO that gives legal rights and protections to an inventor in exchange for disclosing their invention to the public. It allows the inventor to exclude others from making, selling, or using the invention for a period of time. Patents can be granted only to the actual inventor for something new, nonobvious and useful....

To better understand what you should be paying for auto insurance, it’s best to learn about the way companies determine their rates. Keep reading for an overview of the most common determinants, and how you can earn a few extra savings. Calculating Average Annual Car Insurance Cost There are a lot of factors that go into determining your car insurance rate. You can change some of these factors easily, others will take work to change, and others are out of your control....

Social Security Tax Rates Social Security functions much like a flat tax. Everyone pays the same rate, regardless of how much they earn, until they hit the ceiling. As of 2021, a single rate of 12.4% is applied to all wages and self-employment income earned by a worker up to a maximum dollar limit of $142,800. Half this tax is paid by the employee through payroll withholding. The other half is paid by the employer....

Twenty percent of Americans aren’t saving at all, a Bankrate study found, while only 39% of Americans would be able to cover a $1,000 unexpected expense with their savings account. Find out how you stack up to the average American savings rate, why we aren’t saving money, and what you can do to pad your savings account. What’s the Average Savings Rate? So how much should you be putting away in your savings account, based on your income?...

Stock markets boom during economic expansion and fall during economic contractions. Most investors cannot time stock market cycles but they can use strategies such as buying and holding, dollar-cost averaging and tactical allocation to make the most of them. What Are Economic and Market Cycles? Economic cycles and stock market cycles are a way to understand the pattern of growth and declines in the economy and the stock markets, respectively....

How the IRA Early-Withdrawal Penalty Works Here’s an example to show how the early-withdrawal penalty works. Suppose you are age 54, and you take $10,000 from your traditional IRA. The penalty would be calculated as follows: The $10,000 would be considered income on your tax return. This income would be included along with your other sources of income to determine the total amount of tax owed for the year. The amount of tax owed on the $10,000 would depend on your income tax rate, which is determined by your total income and deductions....

To get the maximum benefit from a savings account, you can add funds to it regularly. There are many ways to do this with little effort. At many banks, you can maintain a savings account without ever visiting a branch office. Learn more about how to add money to a savings account. In-Person Deposit The traditional way to add money to a savings account is to make an in-person deposit of cash or checks at a branch office....

First of all, try to find out the name of the contact person. Some employers will think poorly of an applicant who does not take the time to learn the hiring manager’s name. Also, take care not to assume that you know the gender of the recipient based on the name. Many names are gender-neutral, and some hiring managers may identify as a gender other than male or female....

Can you ask your employer if you can return to the position you left? What’s the best way to ask for your old job back? Or should you pursue other opportunities? What to Do When a New Job Doesn’t Work Out Hopefully, you left your old employer on a positive note. Because you don’t know what can happen when you start a new job, it makes good sense to leave a job on the best terms possible....

In this article, we’ll take a look at how international investors can bet on a country’s economic decline using international ETFs and a practice known as short selling. Investing With International ETFs The easiest way for the average investor to gain exposure to international markets is using exchange-traded funds (“ETFs”). By holding a diverse basket of securities in a single security traded on a U.S. exchange, these so-called “Country ETFs” provide instant diversified exposure to an entire country’s economy through its publicly traded equities, with a relatively low expense ratio compared to the alternative....

Investors in pre-foreclosures may attempt to make deals with sellers, but those offers might not be legal. Many states have laws about what investors can and cannot do when homeowners are behind on their mortgage payments and in the pre-foreclosure stage. What Is Pre-Foreclosure? A home is in pre-foreclosure when the owner is in default on their mortgage payments and is at risk of being foreclosed upon. It is not necessary for a formal foreclosure notice to be filed in the public records for a home to be considered to be in pre-foreclosure....

The loss of a parent can be emotionally devastating and an unpleasant topic to consider. But it’s important to acknowledge any potential financial impacts that might result. For example, if your parents provide financial support, or if you are responsible for debts your parents currently pay, their death may leave you in a difficult position. Alternatively, you might just want sufficient funds to pay for a meaningful memorial that celebrates your parents’ lives....

What Is the Land-Building Ratio or Lot-Size-to-House-Size Ratio? Every structure occupies a certain portion or percentage of the land parcel on which it sits. This percentage or ratio of the size of the building to the land is called the “land-to-building ratio.” When it’s high, the property isn’t being used to its fullest potential. When it’s low, the property is already at full capacity. Formula and Calculation To figure out what the land-to-building ratio is for a given piece of property, divide the square footage of the land parcel by the square footage of the building....

Whether it’s a matter of budget, need, or something else entirely, the process of canceling your policy can vary based on whether you have term or permanent insurance and how long you’ve had it. Depending on the situation, here’s what you need to know about canceling life insurance the right way. Take Advantage of Free Look Periods When you first purchase a life insurance policy, you’ll typically get what’s called a “free look” period....

Start your hunt for a car insurer by learning the strengths and weaknesses, comparing coverage terms, and creating a scorecard. Make sure you also check the policy term. It’s worth your while to compare companies to find the best fit. What Makes Providers Different? There are a few key things that can make some providers stand out more than the rest. Two of the main details are financial strength and customer service....