We are quickly coming upon the deadline that many Americans not receiving a refund truly despise – April 15, the last day to file individual tax returns.
With Benjamin Franklin's admonition in mind – "...nothing is certain but death and taxes" – and serving as point of reference, here are some basics to help out those who have not yet done their tax duty.
America's most common jobs come with lousy pay.
Workers in seven of the 10 largest occupations typically earn less than $30,000 a year, according to new data published Friday by the Bureau of Labor Statistics. That's a far cry from the nation's average annual pay of $45,790.
Food prep workers are the third most-common job in the U.S., but have the lowest pay, at a mere $18,720 a year for 2012. Cashiers and waiters are also popular professions, but the average pay at these jobs tallies up to less than $21,000 annually. There are 4.3 million retail sales workers out there, making them the most common job, but the position pays only $25,310 for the year.
In planning your estate, it is customary to consider wills and trusts (as well as intestacy) as a means of property distribution. As a matter of fact, the manner in which you hold title to your assets may supersede provisions contained in other transfer documents. Likewise, significant tax benefits can be gained (or lost) depending on the characterization of your property.
Let's take a look at the general classifications of ownership.
Throughout Women's History Month, we have recognized women who are making an impact in their industries. We close out our month-long salute with a conversation with Caron Byrd, who is making a difference in the community through a great cause, Ronald McDonald House.
Frequently when we talk about business, we are referring to "for profit" entities. The same knowledge and skill sets are required to effectively run a non-profit. As the executive director of Ronald McDonald House, Byrd directs one of the most successful non-profits in the area.
Carlee McCullough: Tell us about yourself.
Just as with Black history month, the concept of solidarity among members of a race, class or gender is based on shared conditions, experiences and concerns. Following the Michigan Chronicle’s recent recognition of Women of Excellence and now at the conclusion of Women’s history month, an examination of the sisterhood of women is more than a...
More than one-third of retirees lack confidence that they will have enough money to live comfortably throughout their retirement years. Committing to a savings strategy during your working career could go a long way to help alleviate this concern, but it's also important to make sound decisions when withdrawing assets from the portfolio you worked so hard to accumulate.
One common approach has been to withdraw 4 percent of your portfolio in the first year of retirement, with inflation-adjusted amounts in subsequent years. The so-called "4 percent rule" was developed in the 1990s using historical market research, and it was based on a 30-year retirement with savings in a tax-deferred account and nothing left for heirs.
As a survivor of Hurricane Katrina, Andria Lewis has shown that with hard work and dedication you can do more than exist – you can truly rebuild and win. From corporate functions to elaborate weddings, Lewis makes sure that she places her creative signature touch of vibrant colors and original flair all over the event. Featured in Essence and Ebony, Lewis demonstrates to others how it should be done.
Carlee McCullough: What are you most proud of in your business?
Andria Lewis: That I have built my company after literally losing everything I owned in Hurricane Katrina. I didn't have a car, I barely had clothes and I had no place to live. I lived with family for two months after moving to Memphis. I am most proud that I survived a significantly emotional battle.