After the Tax Cuts and Jobs Act of 2017 went into effect, tax deductions for job interview expenses were put on ice through 2025. In other words: job seekers were previously able to deduct some/all expenses related to job interviews (e.g., transportation, accommodations) but now none of these expenses are tax-deductible between 2018 and 2025. The freeze on this deduction was an unfortunate blow for people hoping to get a job outside of their immediate, drivable areas. Some employers reimburse a portion (or entirety) of job interview-related … [Read more...] about What to Do When You Have to Cover Your Own Job Interview Travel Expenses
Why You Need Disability Insurance
At some point in your career, you are going to get hurt. It is almost inevitable. Over a third of all Americans will eventually find that they disabled at some point during their careers and unable to work for an extended period of time according to the Social Security Administration. How will you pay your bills? How will you support your family while you are disabled? How long will your emergency fund last you and your family? It is estimated that over 70% of American employees are not covered by some type of private long-term … [Read more...] about Why You Need Disability Insurance
How to Prioritize Which Bills to Pay When You’re Struggling
Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. If you're not familiar with Dave Ramsey's book, you should run right out and get it. It is one of my the best personal finance books that everyone should … [Read more...] about How to Prioritize Which Bills to Pay When You’re Struggling
Top 8 Homeownership Costs Renters Do Not Understand
One of the most common parts of the American Dream that millions of people strive for is homeownership, but sometimes it’s not all it’s cracked up to be thanks to homeownership costs. When first-time homebuyers are saving up for a down payment on a home, the other costs related to home ownership that come after you buy the home are oftentimes overlooked because we get so wrapped up in the “saving for a home” part that we fail to adequately prepare for the expenses that come later. The old proverb about the grass being greener on the other … [Read more...] about Top 8 Homeownership Costs Renters Do Not Understand
What Is Unretirement and How Will It Affect Future Generations of Workers?
As technological and medical advancements increase the average human lifespan, our society has had to re-evaluate its approach to the traditional work model and target retirement ages. In fact, a new survey conducted by Harris Poll for TD Ameritrade recently found that at least one-third of Americans aged 40 or older plan to continue working past the traditional retirement age of 65. There are also plenty people who retire for a while then return to the workforce a few years later. It’s worth noting that financial reasons aren’t always the … [Read more...] about What Is Unretirement and How Will It Affect Future Generations of Workers?
Should You Work For Yourself? Things You Should Consider
Being an entrepreneur is a goal that many people hope for, especially with success stories like Mark Zuckerberg in the news. It seems so simple to make all your dreams come true just by coming up with the right idea and becoming your own boss. However, what the news rarely shows you are the tough decisions and the struggles that success stories go through before they’re financially set. So, the question remains. Should you work for yourself? There are many things that you must consider before you make that leap. The economy has improved, … [Read more...] about Should You Work For Yourself? Things You Should Consider