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If your employer is like most, he or she will want official documentation that you resigned. So, don’t be surprised when you tell your manager that you are leaving and the first item requested is a resignation letter for your employee file. Here are your sample resignation letters. Download them in the resignation letter template (compatible with Google Docs and Word Online) or see below for more examples. Even a simple resignation letter requires a degree of formality from the employee writing it....

You can close your credit card without writing a letter, but sending a letter gives you physical proof that you requested your account to be closed. You may even choose to call your credit card issuer first to close your account, and then follow up with a letter for your records. Sending the letter via certified mail gives you additional proof that your request was received. If there’s ever a question about whether you closed your account and when, you’ll have the letter to back up the fact that you closed your account....

However, if you don’t believe that you can honestly recommend the person for the job, it is best to politely decline writing the letter. Refusing to provide a recommendation is better than writing a negative reference, and there will be others who may be able to provide a stronger recommendation for the position candidate. You may even be asked to draft a reference letter for your reference writer to use as a starting point for their own letter....

At first glance, this sounds like an insane idea, but there’s a small subculture of people who are saving half of their money. These savers find that the peace of mind and flexibility this generates is worth the effort, and many people achieve this on middle-class incomes. They may earn a take-home income of $100,000 per year, for example, and live on only $50,000 per year. Or they may earn $80,000 per year, but live on a household budget of $40,000....

What’s the Difference Between a Second Home and an Investment Property? An investment property is a home you’ve purchased to generate income, with no intent to live in it. You may plan to rent it out, to eventually sell it for a profit, or both. Mortgage Rates Mortgages for both second homes and investment properties often come with higher rates than you’d get on a mortgage for a primary residence—though your rate will vary based on factors like your credit, debt-to-income ratio, type of mortgage, and term....

You want to be sure that your tax documents are delivered in the most secure, reliable way possible. Tax documents contain sensitive information like your name, address, and Social Security numbers for you, your spouse, and your dependents. They detail how much money you earn. They show where you bank and maybe even your account numbers. You could become a victim of identity theft if this data falls into the wrong hands....

If you decide to sell first and then buy, but your home doesn’t sell or it attracts very low offers that you do not want to accept, the agent will get nothing. This is something to consider. It’s no risk to you. Of course, which comes first, the chicken or the egg, depends on the market—whether it’s a buyer’s or a seller’s market—and your personal motivation. However, for most sellers and buyers, the smart thing to do is to sell before you buy....

In a Senate Banking Committee hearing Tuesday, ranking member Sen. Pat Toomey grilled Securities and Exchange Commission Chair Gary Gensler on why cryptocurrencies are sometimes considered a security and sometimes not, and how that determination is being made. Exactly how digital assets are classified by government agencies has become a hot topic. The IRS has treated virtual currencies as assets and property that wouldn’t come under the SEC’s purview and wouldn’t be subject to the so-called wash sale rule, like stocks and other securities are....

Tax lien investing can be more complicated than owning mutual funds or stocks, however, and it may be better suited to some investors than others. Weighing the risks and rewards of investing in tax liens can help you decide if this real estate investment option belongs in your portfolio. How Tax Lien Investing Works Tax lien investing is real estate investing without the actual ownership of property. Instead, you’re investing in debt that’s related to that property through a lien....

What Is the Rule of Thumb for Investing Retirement Savings? Contribute as much you can from your paycheck to max out the match if your employer offers a 401(k) match. This may take some time but focus next on Roth IRA contributions after you’ve met that goal and you’re meeting your employer’s match on a regular basis. Then go back to your 401(k) and withhold more from your paycheck if you max out your Roth IRA....

Here’s how to deduct charitable donations of different types, based on your business and the nature of the donation. What To Consider Before Your Business Donates to Charity If you are wondering if a donation could impact your company’s tax bill, there are some things you need to know about how different kinds of businesses can donate to charities. If your business is a corporation, the business can take a tax deduction for any donations, whether they are assets, cash, or investments....

The annual cost-of-living adjustment (COLA) for recipients of Social Security retirement and disability benefits is calculated every October using the Consumer Price Index. It’s done to keep rising costs for the things we buy from eroding the buying power of payments. And with inflation running near its hottest in 40-years, the COLA is following suit: This year’s adjustment is expected to add $144.10 to the average retirement payment of $1,656, the Senior Citizens League nonprofit group calculated this week....

You may have thought saving for and growing your retirement fund was the hard part and, once you’ve retired, all you have to do is sit back and spend it. But that may be easier said than done, according to a JP Morgan Asset Management study. By law, people have to take a required minimum distribution from retirement accounts each year beginning at age 72, in most cases. You can withdraw money before that, but 80% of account holders do not, JP Morgan found in its study of 31,000 people approaching and entering retirement between 2013 and 2018....

The Balance analyzed March 2022 inflation data from the Bureau of Labor Statistics Consumer Price Index (CPI) and found that, compared to March 2021, prices have significantly increased in the U.S. for springtime travel and entertainment. Other data The Balance examined indicated that even household supplies like cleaning products and indoor plants are more expensive. Costs for Spring Travel and Entertainment Are Sky-High Before you set off on your spring travel, make sure you budget for your trip to account for a more expensive travel season all around....

What About a Loan Modification? The homeowner might have already tried to do a loan modification with their lender, but had their application denied because they were current on payments. A lender might suggest going into default to improve their chances of approval. Nobody, outside of a lawyer, can tell you whether to stop making your mortgage payments—especially not real estate agents—because they are not licensed to give legal advice. This is a personal decision that sellers need to make for themselves....

Marriage also brings in legal concerns as spouses commingle assets and share financial responsibilities. For example, you might be unsure if either of you will become responsible for repaying the other’s student loans after marriage. To help you navigate this issue, we’ve answered some big questions couples often have about student loans and marriage. Is a Spouse Responsible for Student Loans? Many married couples have a “what’s mine is yours” mindset, but does that also apply to student debt?...

What Are Tax-Efficient Funds? Tax-efficient funds are mutual funds or exchange-traded funds (ETFs) that generate lower relative levels of dividends and capital gains than the average mutual fund. Conversely, a fund that is not tax-efficient generates dividends and capital gains at a higher relative rate than tax-efficient mutual funds or ETFs. Tax-efficiency is a concern primarily for investors who have taxable accounts. This is because dividends and capital gains distributions produced by funds that aren’t tax-efficient are liable to be taxed....

After seeing ratios of 43 in 1999 and 49.5 in 2000, price-to-sales ratios slumped to single digits between 2002 and 2017, the research showed. But this year’s median price-to-sales ratio is now more than twice what it was in 2018 and 2019, when the market valued tech companies with IPOs at an average of 11.7 and 10.4 times their previous 12 months’ earnings. “It is looking more and more like 20-21 years ago,” said Jay Ritter, a professor of finance at the University of Florida who researches and tracks the sales-to-price ratios of tech stocks....

Employers ask you this question for a few reasons. Because younger job candidates may have limited work experience, they want to pinpoint whether you have the skills they’re seeking. They also want to know whether you understand the basic expectations of the job. Beyond that, employers are assessing your emotional response to the question. Do you answer with confidence or are you flustered? Are you assertive or are you self-effacing?...

While the use of temporary agencies offers many advantages, problems can arise if temporary workers are injured on the job and seek workers’ compensation benefits from the hiring company or sue it for benefits. Because the temporary workers aren’t employed by the hiring company, claims or suits they file won’t be covered by the hiring company’s workers’ comp policy. Fortunately, businesses can protect themselves from claims by injured temporary workers via the Alternate Employer Endorsement....