The Tax Consequences of Inheriting an IRA or 401(k)
admin Anyone can take control of an IRA or 401(k) after a loved one dies by simply presenting the original death certificate to the bank or financial institution where the account…
Credit Bureaus To Ax 70% of Medical Debt From Reports
If you are one of tens of millions of Americans with overdue medical debt, there’s some good news ahead. Soon, that debt will be far less likely to hurt you…
What You Need to Know About Affirm
Affirm is a buy-now-pay-later company that was launched in 2012 by PayPal co-founder Max Levchin. These days, it seems to be just about everywhere, offering you the option right during…
Possible Reasons a Credit Card Application Was Denied
If you’re approved for a credit card, you’ll typically find out right away. When you’re denied, however, it’s a completely different situation. Credit card issuers rarely tell you on the…
Definition, Effect, Examples and Solutions
A drought is a reduction in precipitation over an extended period. This creates a water shortage that damages crops, livestock, and the environment. Since droughts adversely impact the agricultural industry,…
What Is a For-Profit College?
Key Takeaways For-profit colleges aim to maximize profits. They’re financed largely by taxpayer-derived federal funds, but they also charge tuition and fees that are used in large part on non-educational…
What Is Imputed Interest?
Key Takeaways Imputed interest is interest the IRS assumes a lender has received. It’s subject to taxation regardless of whether the lender has actually received it. The rule applies to…
What Is the Federal Budget?
Key Takeaways The federal budget estimates the government’s revenue and spending for each fiscal year. The Constitution gives Congress power over the federal budget. The president submits a budget proposal…
Claiming Capital Losses on Your Tax Return
A capital loss happens when you sell an investment asset—such as a stock, bond, or mutual fund—and you lose money. The sale price is less than what you paid to…
What Occurs When a Court Issues a Judgment Against You?
Before a person or a company to whom you owe money can win a judgment against you, they must first file a lawsuit in court. If you ignore the lawsuit,…