In essence, Federal Income Tax is collected by the US Government to pay all US Government related bills. All US citizens are subject to this tax for their worldwide income, which non-resident aliens are taxed on their US source income. The laws are created by legislators, while…

In a car or home loan, your debt is backed by collateral – your car or home. However, in a Personal Loan, your debt is not backed by anything, which is why it is also be called an unsecured debt. Another name for loans with no…

An Exchange Traded Fund (ETF)is an investment fund traded on the stock exchange. These tickers represent assets such as stocks, commodities, or bonds to their net asset value, and provide an accurate value throughout the trading day. ETFs are attractive in that they have stock-like features,…

A 529 plan (aka Qualified Tuition Program)is a savings plan provided by the state (or an educational institution) aimed to help families save up money for their kid’s future educational costs. The “529” name comes from the legal proceedings coming from section 529 of the IRS…

What is a Traditional 401k? A traditional 401kis an account, provided by your company, where you may place pre-tax money into. The main purpose of the program is to save for retirement. There are equivalent accounts for non-profits (403(b)) and government sectors (458(b)). The name does…

Credit card companies are tracking your every move; by using your credit card for every purchase, these companies can see what you bought, where the transaction was made, what time it occurred, and how much it cost. With this massive amount of data, they are…

The day you set a budget, you’ll most likely have a headstrong mindset that you’re going to keep that budget, no matter what. However, as we all know, life gets in the way, and we lose track of things. Here are the top X ways…

Here is a collection of 12 things to know while on the apartment hunt. Note that these guidelines are for general neighborhoods, and exceptions may occur, depending on which area you’re looking in. 01. Haggle just the right amount Usually, the apartment sales manager can…

Let’s talk about joint checking accounts and the benefits and risks they carry. We can use an unmarried couple, Jack and Jill, to provide example scenarios. What is a Joint Checking Account? First off, what is a joint checking account? A joint checking accountis similar to…