Before you start negotiating with potential buyers, prepare by reviewing these common mistakes owners make while selling their business. Learn the steps you can take to prepare for a deal and how to avoid potential problems. Not Organizing Your Records The Balance spoke to Andy VandenBerg, a financial advisor who has sold one business, closed another, and is working on four others, including WeHero, a service that enables corporate volunteering....

The Centers for Disease Control and Prevention (CDC) reports that stress is the leading health problem in the workplace and a significant occupational health risk. So, getting stuck in a toxic workplace for too long can certainly take its toll, both professionally and personally. Naturally, you’d prefer to avoid taking a job in such an environment. The challenge is that the red flags indicating a dysfunctional organization can be subtle, especially during the interview process....

Through this tax-advantaged plan, family members and friends can contribute to a child’s college fund and get a tax benefit for doing so. Over the years, with regular contributions and compound interest, the plan can grow significantly to provide for the child’s educational expenses. So, if you save enough through this plan, you’ll hopefully have less stress at admissions time about applying for financial aid or searching for scholarships....

Alison is also the author of “Alison Doyle’s Job Search Guidebook,” “Internet Your Way to a New Job: How to Really Find a Job Online,” and “The About.com Guide to Job Searching.” She is a member of the Society for Human Resource Management (SHRM). Alison has also been quoted or mentioned in many major online and print publications, including LinkedIn, Forbes, The New York Times, and many more. title: “Alison Doyle The Balance” ShowToc: true date: “2023-01-19” author: “Candice Brookhart” Alison is also the author of “Alison Doyle’s Job Search Guidebook,” “Internet Your Way to a New Job: How to Really Find a Job Online,” and “The About....

To deduct business mileage using the standard mileage rate, multiply the actual business miles driven by the standard mileage rate published by the Internal Revenue Service (IRS) for the tax year the driving occurred. For the 2020 tax year, the standard mileage rate is 57.5 cents per mile. Note that you can only deduct business mileage, not personal mileage. When you take a deduction using actual expenses, you can use almost every expense associated with your business driving, including: Interest on the vehicle loan Vehicle depreciation (leased vehicles cannot be depreciated) Registration fees and tax Parking fees and tolls Garage rent Lease payments (with some restrictions) Insurance on the vehicle Gasoline and oil Maintenance and repairs Insurance Tires License plates Registration fees...

Types of VA Benefits You Can Receive There are two main types of VA benefits that people are eligible to receive: cash and discounts. Cash benefits are monthly payments from the government for retirement and disabilities incurred during military service. If you’ve been permanently and totally disabled, you can also qualify for Social Security disability benefits. Veterans are also privy to discounts on mortgages, income tax preparation, groceries from the commissary, financial coaching, and educational benefits with the GI Bill....

Unlike unsecured debts like medical bills or credit cards, secured debts have collateral like cars and houses. The creditor has a lien on your property, or a right to seize the property if you fail to pay your loan or otherwise default on the obligation. Similar to the other bankruptcy schedules, it is essential to a successful bankruptcy to fill out Schedule D correctly and in full. You can access the official Schedule D form....

Whether your computer runs on Windows or macOS (or even Linux) or you do all your budgeting on your phone, you’ll find a no-cost selection below for tracking your finances and planning for the future. You can complete your financial toolset with free personal tax preparation software to keep more of your money in your pocket. Access Mint via the web or phone apps for iOS and Android. GnuCash is compatible with Windows, Mac OS X, GNU/Linux, BSD, and Solaris....

Top Skills Communication Majors Have Communication majors learn how to assess the needs and preferences of readers, viewers, and listeners. They have the creativity to devise innovative strategies for conveying their messages. Students who major in communication learn to plan, organize, and execute projects, programs, and events. They must be attentive to detail but at the same time understand the big picture. Since communications projects are often subject to criticism and failure, communication majors learn to tolerate critical appraisals of their work and to cope with less-than-successful ventures....

For example, if an investment adviser asks questions to gauge your risk tolerance, they are seeking to determine what investment types are suitable for you and your investment objectives, which includes the time frame in which you will be investing. The same goes for you as a do-it-yourselfer: it is important to pick the best funds that are suitable for you and your personal finance needs. So if you don’t expect to make withdrawals from your brokerage account for at least 10 years, you may be considered a long-term investor....

The cutoff will threaten not only the wellbeing of those directly impacted, but could slow economic growth, said Andrew Stettner, senior research fellow at the foundation, in a report. Unemployment benefits are currently pumping more than $6 billion a week into the U.S. economy, but that figure will fall to $1 billion when the programs end, Stettner estimated. In addition to those losing their unemployment payments entirely, an estimated 3 million more will stop receiving a $300 weekly federal supplement to their state unemployment benefits, which average just $334 per week nationally....

Unlike hotels and car rental companies, which let you reserve in advance and pay when you check in or pick up your vehicle, airlines have traditionally required you to pay your bill well before you fly. The BNPL arrangement can be beneficial for some, including people who have a tight cash flow, and can even allow you to travel before you fully pay. But there are downsides to consider. Learn about how BNPL flying works, the airlines that offer it, and how to take advantage of these services....

There are no quick fixes. But several techniques enable you to establish credit, and with patience, you can work your way up to high credit scores. How to Build Credit To establish a credit history that will be attractive to lenders and others, you need to borrow money and make all of your payments on time. It’s that simple, but it’s not necessarily easy. You can certainly see improvements in a short period, but significant changes take time....

vgajic / Getty Images If you run a business, it’s vital to know how to calculate and use gross income. Learn more about how it works and the benefits. What Is Business Gross Income? Gross business income is the total income a business receives before any taxes, expenses, adjustments, exemptions, or deductions are taken out. It is calculated on a business tax return as the total business sales less cost of goods sold (COGS) and appears on the income (profit and loss) statement as a starting figure....

Here’s a summary of different ways you can withdraw money from your 401(k) plan prior to retirement, and what will happen if you do. Withdrawals Before Age 59 1/2 Any withdrawal made from your 401(k) will be treated as taxable income and subject to income taxes in the year in which you made it, before or after retirement. However. you’ll also be subject to a 10% early distribution penalty if you’re younger than age 59 1/2 at the time you take the withdrawal....

Traditionally, self-employed workers, independent contractors, and freelancers who lose their income are not eligible for unemployment benefits. However, there are exceptions. Unemployment Benefits for Self-Employed Workers Because employers contribute to a fund for unemployment benefits, their employees are eligible to receive benefits from the government if they qualify after losing their job. If you are operating as self-employed, you most likely didn’t pay into your state’s unemployment fund. Other than in special circumstances, if you were paid as an independent contractor and received a 1099 form, you were not considered an employee and would not be eligible for unemployment benefits....

If the appropriate language is not in the trust agreement and you designate it as the beneficiary of your IRA, then your beneficiaries will be required to withdraw all of the funds out of the account in as little as five years after your death instead of over their life expectancies. If you still have assets held in a 401(k) or another type of qualified retirement plan with a former employer and are not concerned about creditor issues, then consider rolling the assets over into an IRA....

Of course, the answer to this question will vary widely depending on the job for which you are applying. If you are applying for a high-tech position that requires lots of information technology skills, for example, you should know your skills and experience like the back of your hand and be able to recount them without issue. However, if you’re applying for a position that requires lighter computer skills, you may need some assistance coming up with a strong answer....

That’s why many companies offer tuition reimbursement programs, in addition to other employee benefits. Companies and human resources departments are well aware that benefits can impact whether candidates apply for a role, as well as whether they opt to accept or reject a job offer. Here are some of the top employers that provide tuition benefits, as well as tips for how to find jobs with tuition assistance programs....

Total household debt increased by 0.6% to $14.64 trillion in the first quarter of 2021, according to a report released Wednesday by the Federal Reserve Bank of New York, with mortgage, auto loan, and student loan balances increasing but credit card balances dropping sharply. The drop in credit card balances, at $49 billion, is the second largest quarterly decline in 22 years of data, and puts balances $157 billion below where they were at the end of 2019....