Not all states are created equal when it comes to where to start a new small business. Some states, not surprisingly, are a better fit for budding entrepreneurs than others. Now you might think that “better” means “cheaper,” or “lower taxes,” but these days that’s not all that matters for a small business.
For many homeowners, their home equity represents a significant portion of their net worth, and it’s an asset they’re willing to leverage. In June 2018, LendingTree analyzed home equity loan requests since the start of the year to find out how homeowners plan to use proceeds from home equity products. Perhaps not surprisingly, many homeowners use their home’s equity to generate more. Let’s take a look at the three ways you can tap your home’s equity and the pros and cons of each.
If you’re thinking of declaring bankruptcy or just went through the process, you may already know it will damage your credit, possibly lowering your credit score by hundreds of points, and will stay on your credit report for seven to 10 years.
The good news is that you can rebuild your credit, even while the bankruptcy is on your credit record.
Being a small business owner is all about following your dreams and calling your own shots. But it’s also about managing your money responsibly and keeping a tight grip on your finances. At this stage of your business, that may not be as complicated as running a major corporation, but there are still several financial best practices you should be aware of.
Many people dream of one day building their own home. Rather than purchasing an existing home or working with a homebuilder’s particular location, layouts and design elements, you can buy the land and personalize the home’s details from floor plan to fixtures. Of course, few people can afford to pay to build a house upfront.
Construction loans can help you finance the actual building process, but obtaining such a loan is different from applying for a regular mortgage.
Is your company struggling to attract and retain top talent? Welcome to the club. According to the July 2018 jobs report for the U.S. Department of Labor, the unemployment rate dropped to just 3.9 percent. This represents “only the eighth time that the monthly rate has fallen below 4.0 percent since 1970, and three of those months have been in 2018,” according to a blog from the DOL’s Office of Public Affairs.
Any industry that accounts for 5 percent or more of a jurisdiction’s workforce is commonly considered to be a “major industry,” according to a 2018 report from Johns Hopkins University. And in all but one state in the U.S., nonprofits account for more than 5 percent. In over half of states, nonprofits employ more than 10 percent of the workforce.
In today’s real estate marketplace, many prospective homebuyers struggle to come up with the recommended 20 percent down payment. Fortunately, many loan programs make it possible to buy a home with less money down. While these loans make homeownership more accessible, they often come at a cost: private mortgage insurance.
If you are a homeowner (or hoping to be one soon), you know owning a home is expensive. You’ve got a monthly mortgage payment, real estate taxes, utilities, homeowners insurance and possibly association dues. On top of all that, you need to cover repairs and maintenance – which can be difficult to predict or plan for.
It’s the unpredictable nature of those repair costs that just might make a home warranty sound like a good idea.
For many military borrowers, VA loans offer an affordable path to homeownership. Since the program was created by the Servicemen’s Readjustment Act of 1944, these flexible, no-down-payment loans have made mortgages available to many veterans who otherwise might not have qualified for a conventional mortgage.
But once you’ve used your VA entitlement to buy a home, can you use it again? VA loans aren’t a one-time benefit. They can be used over and over again.
Twenty-two million people live in manufactured (aka mobile) homes in the U.S., according to the Manufactured Housing Institute. With an average new home sales price of just $70,600, manufactured homes present an affordable alternative to site-built homes.
Even at that price, few buyers can afford to pay cash for a manufactured home, not to mention the land it sits on.
Cloud accounting companies regularly tout the amount of time you’ll save using their services instead of manual tracking. I put it to the test.
If you’re used to claiming itemized deductions on your federal tax return, tax reform may have a surprise in store for you in 2019.
Many small business owners like to show appreciation to their clients, customers and team with thoughtful gifts. After all, you’re building a rapport with your clients and a bond with your team.
Whether in the form of cash, gift cards or a token of appreciation, gifts come with tax implications that small business owners should take into account.