Retirement can be a truly daunting phase of life for many individuals. With ever increasing living expenses and no steady flow of income, saving for retirement is a tricky task. Fortunately, the concept of reverse mortgage has made life much easier for many. Reverse mortgage is a loan in which a homeowner gets funds against the equity built up on their property (or home). The loan amount depends entirely on the value of the property, the borrower’s age, and upfront costs. Moreover, the borrower remains the owner of the home. At no point does the lending bank or company take over ownership. 1. How does a reverse mortgage work? A reverse mortgage is only made available to senior homeowners who are above 62 years of age. To be eligible, you need to be living in your primary residence. In a reverse mortgage, the homeowner, receives monthly amounts of money against the value of the home. You can decide whether you would like monthly payments or a lump sum. A lump sum can help in case of a one-time large expense, whereas monthly payments can help to supplement regular expenses. In the case of a couple undergoing a divorce, a reverse mortgage allows for one to stay in the original home while paying for the other to find a new one.

Akin to any industry, banks are always dreaming up new incentives to keep customers coming through the door. This is exactly why many banking institutions now offer some pretty sweet bonuses and promotions that pay you (the customer) back for opening up a new account. With many baking consumers eager to switch banks for cheaper monthly fees or free interest on balance transfers when they open a new account, it’s little wonder that money institutions eager for new business are offering everything from free online checks to cash-back rewards to new customers. Look for these great banking bonuses before opening your next account: 1. Cash-back incentives Banking institutions are first and foremost in the business of making money. They are never going to give you free money at their expense. So when you’re inundated with email offers for cash back incentives when you open a new checking account or on purchases when you open a new credit card, they’re not just passing out free money for the heck of it. Most of the time, these cash back incentives are only for an introductory period (of up to 3-months). However, if you’re sorting through and looking for a good one, keep these factors in mind:

As tax season approaches, Americans find themselves facing a landscape of changes that could significantly impact their financial planning. With the advent of QuickBooks Tax and the growing prevalence of electronic tax filing, staying informed about the latest tax updates is crucial. Another one to know about is QuickBooks Payroll Business, which is a comprehensive solution designed to streamline and simplify payroll management for businesses. With user-friendly features and robust functionalities, this platform allows businesses to handle payroll processing with ease. QuickBooks Payroll Business enables accurate and timely payment of employees, automatic tax calculations, and seamless integration with accounting systems. From managing employee hours to handling tax forms and filings, QuickBooks Payroll Business ensures compliance and reduces the administrative burden associated with payroll. Whether you’re a small business or a growing enterprise, QuickBooks Payroll Business provides a reliable and efficient payroll solution, allowing businesses to focus on what matters most – their growth and success. In this listicle, we unpack the five most significant tax changes that every American should be aware of to navigate the tax season seamlessly. 1. New tax brackets and rates One of the notable changes in recent tax legislation involves adjustments to tax brackets and rates.