Rockaa/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Leasing a car can generally requires less money upfront and has lower payments, but there are typically mileage restrictions and additional costs. Buying can mean more expensive monthly payments and long-term maintenance costs, but you have greater control over it use.…
Key takeaways The average small business loan amount is $663,000, according to the Federal Reserve For fiscal year 2024, the average loan amount for all types of 7(a) loans from the Small Business Administration was $443,097, and the average amount for a 504 loan was $1.11 million Large national banks…
A solo 401(k) may be the best retirement account for those with a one-person small business, meaning it’s great for those with a side hustle or even a main gig. It can also work for those firms run by a married couple, making it a great way to save money…
The tax world has its own lingo, which can add to the complexity of filing your tax return. But don’t despair. Knowing these 10 key tax terms can help you understand taxes in no time. Key tax terms to know AGI Tax credits Tax deductions Standard deduction Itemized deductions Exemptions…
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TomoCredit, a five-year-old San Francisco startup that claims it boosts consumers’ credit scores, is facing a growing number of problems,…
This founder built his brand on a simple idea: Forget about changing the world. Get rich doing mundane and even…
The 2024 presidential election has ended, and Donald Trump is poised to retake the White House, with big implications for…
Voters in Washington State have decided to keep the state’s first-in-the-nation public long term care insurance program. On Tuesday, they…
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Key takeaways A portfolio line of credit allows you to borrow money against your investments, similar to other types of secured loans and lines of credit. This line of credit typically has lower interest rates and more flexible repayment options than other borrowing methods. Not…
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Key takeaways A lien serves as an official notice that you owe a creditor for unpaid property. If you do not pay, the…
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With interest rates easing and inflation cooling, small businesses are getting a much-needed break. A change to the Small Business Administration’s (SBA) refinancing…
Credit Cards
Key takeaways Actively using a credit card responsibly can help improve your credit score over time. Using your credit card like a debit…
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Key Takeaways A range of credit cards from American Express offer purchase protection against damage or theft, although limits on this benefit vary by card type. This coverage applies when a purchase is damaged or stolen within a specified timeline and charged to an eligible card. Some American Express credit…
Key takeaways Wells Fargo Merchant Services provides payment processing solutions for small- to medium-sized businesses. Merchants must have a Wells Fargo business checking account to be eligible for the bank’s services. Wells Fargo offers a range of payment processing options, including point-of-sale devices and online payment solutions. If you own…
LUHUANFENG/Getty Images; Illustration by Bankrate Key takeaways A CD ladder entails opening multiple CDs with varying terms and maturity dates. CD ladders allow you to take advantage of potentially higher yields, while also maintaining some liquidity. Once a CD in your ladder matures, you can choose to open another CD…
The last year saw a number of economic wins for the U.S., but many Americans aren’t celebrating. Inflation slowed to levels last seen in early 2021, and the Federal Reserve cut interest rates twice. But that may not mean much to many Americans’ wallets, as prices of common goods are…
Key takeaways As of September 2024, 27 percent of holiday shoppers planned to take on debt for their holiday spending, according to Bankrate’s Early Holiday Shopping Survey. Eleven percent of holiday shoppers planned to use a buy now, pay later (BNPL) service. Twenty-eight percent of holiday shoppers were stressed about…
Douglas Sacha/Getty Images The biggest tax question on most people’s minds, once filing season gets underway, is whether they’ll get a refund or owe the IRS money. The average tax refund in 2024 was $3,004, a 0.9 percent increase from the average refund of $2,977 in 2023, based on IRS…
Key takeaways With responsible use, credit cards can help you build your credit and earn valuable rewards. Plus, you can enjoy protection against unauthorized charges and other benefits. Keep in mind that credit card interest rates are high, and if you don’t pay on time and in full, you could…
Key Takeaways Using a business credit card for personal purchases isn’t technically illegal, but it could violate the terms and conditions of your card agreement, which has consequences. These consequences can include the closure of your account, personal liability, tax implications, more complicated bookkeeping and a negative impact…
Looking to sell your life insurance policy? Whether the policy no longer fits your needs or you are looking for ready cash for medical bills, debt payments or other needs, it is possible to sell your policy — term or permanent. In this guide on how to sell a life…
Key takeaways Where Discover credit cards shine for their lack of fees, they come up short in terms of global acceptance and available cardholder perks. Visa credit cards stand out for their rewards rates and cardholder benefits, but only with the top cards available within the network. Instead of choosing…
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