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[ad_1] Petrol and Diesel Price Today in India: Petrol and diesel rate on May 20 was the same as yesterday. Price in Mumbai remains the highest among metro cities. [ad_2] Source link

[ad_1] Q. My 2009 Toyota Tacoma pickup truck has only 130,000 kilometres on it and the body is in great shape. While my mechanic was underneath the vehicle last week, he noticed a large hole and said it will be fixed under recall. I called my Toyota dealer and they told me there was nothing they could do, as the recall has expired. I proceeded to call corporate, who also said there was nothing they could do. I knew there was a recall on my frame, but I didn’t know the recall had an expiration date. Please tell me what action I can take—it feels like just one more punch in the gut this year. –B.W. A. It’s not surprising you were unaware of the time limit for the Toyota Tacoma recall. That’s almost always the case for the safety recalls that are subject to oversight by Transport Canada. In this case, Transport Canada determined a long time ago that corrosion on the Tacoma takes years to develop and is clearly visible from underneath the truck years before the frame becomes unsafe. Consequently, Toyota’s campaign is an in-house recall administered more like a warranty extension with a prescribed time limit for the repair. Your truck’s frame must have been corroding long before it was brought to your attention in order for the frame to develop such a large hole.  Here are the applicable coverages for the Tacoma, which vary depending on the model year: 1995 to 2000 (15 years) 2005 to 2010 (12 or 15 years)  2011 to 2017 (12 years) Coverage is for unlimited mileage. The most recent program is conditional on an inspection and application of additional rustproofing by a Toyota dealer before December 16, 2021.  This is a major repair. It requires 40 to 50 hours of labour and involves the body of your truck being separated from the frame as a new frame and front suspension control arms are installed. Along the way, other components may have been corroded, which will need to be removed and reinstalled, too. The retail cost of a repair like this is about $15,000, which is often more than the value of the truck itself. Even so, most Tacoma owners are fanatics about their trucks and would rather see their vehicles repaired than bought back by Toyota.  At one time, Toyota Canada appeared to be more flexible with outlier cases, sometimes applying their warranty beyond the established parameters on a case-by-case basis. Since Toyota settled a class-action lawsuit, however, the limits appear to have become more formal, and coverage for the more recent programs was dropped to 12 years.  The Automobile Protection Association (APA) sees that if a vehicle has been inspected and the frame has been rustproofed, but it still corroded excessively, Toyota will stand behind it. That said, Toyota appears to be more rigid than they have been in the past, limiting coverage to the terms of the class action settlement. For an automaker, one of the main objectives of a class action settlement is to extinguish all other claims for the issue once the program is announced. Given that many people did not receive notices because the trucks were already many years old (addresses may have changed, and trucks may have changed owners), could Toyota still have an obligation to provide the remedies existing under the program to those affected by this issue? It feels like they should, but the answer is no; the settlement proposal is almost always accompanied by public notices that, in theory, will notify all Toyota owners of the recall.  If you’re a regular customer at a Toyota dealership, they should flag any issues with the frame before the warranty is over. Inspecting the undercarriage for defects is part of every general maintenance service. However, if you request an oil change, that is not considered a full maintenance service and it’s possible the work was performed by junior staff, who were unaware of what to look for on the frame. If the franchised Toyota dealership you frequent failed to notice issues with the frame, they could incur liability for not attending to a safety recall or preventive program that a private owner is unaware of. Dealers often fail to do this. The APA’s position is that a Tacoma owner who has their pickup serviced at a Toyota dealership does not have to be aware of Toyota’s conditions for the recall, particularly if they did not receive a notice. When you rely on a specialist with expertise in your brand of vehicle, they should meet a higher standard than a general repair shop. A franchised dealership performing routine service which requires an inspection has a duty to disclose open safety recalls and other programs that apply to your vehicle.  Recently, the APA was made aware of a claim filed against a Toyota dealership in Montreal. The dealer flagged the corrosion six months after coverage ended and instructed the customer that his Tacoma was unsafe. The owner, a regular customer, is arguing that the dealership had a duty to flag the corroding frame years before and either fix it under Toyota’s frame replacement program or the lifetime rustproofing warranty they sold him. It will be a couple of more years before the case is heard. Q. In August 2020, my 2012 Toyota Tacoma was inspected and serviced at my Toyota dealer. At that time, they classified rust on the frame as “normal surface rust.” Accordingly, my dealer applied the Corrosion Resistant Compound (CRC).  But recently, I noticed the corrosion has progressed since the frame inspection. In March 2021, I returned to my Toyota dealer. The explanation I was provided was that the deterioration is not in the area of the frame where rust is problematic. The manager explained that the process involves striking the frame with a hammer, and if the hammer perforates the frame, the vehicle is no longer safe to drive and the frame needs to be replaced. If the hammer does not perforate

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[ad_1] For some of Japan's lonely workers, COVID-19 brings a homecoming [ad_2] Source link

[ad_1] But after that DoT had apprehensions about operational issues in implementing the proposal. As per DoT, there could be a likelihood of misuse by the licensees through misappropriation of revenues. [ad_2] Source link

[ad_1] The post Buying a House: A Guide for First-Time Homebuyers appeared first on Millennial Money. Buying a home is one of the most intense financial processes in life, and it pays dividends to go into the process informed.  Here’s everything you need to know about buying a house for the first time. How to buy a home: A step by step guide Identify your criteria Find a real estate agent Get prequalified for a loan Get preapproved for a loan Go house hunting Put in an offer Getting a home inspection Getting an appraisal Let the agent negotiate Closing time 1. Identify your criteria  The first step is to identify three specific criteria: The target market where you want to live (e.g., downtown Chicago or rural Colorado) The type of property you want to live in (e.g., a high-rise condo, a country home, or a traditional suburban dwelling) The price point you can afford (e.g., $150,000, $250,000, $500,000, etc.) Only you can decide where to live, what type of place is right for you, and how much you can afford. Also, do some research on your target area to understand how much you will owe in property taxes. Often, people start looking in one town and quickly realize there are more options in the surrounding areas with lower taxes. You also might find that the particular area where you want to buy is in a flood zone, which means you have to pay for flood insurance. 2. Find a real estate agent who specializes in buying  It’s important at this stage to find a realtor who knows the art of buying a house, and who is highly knowledgeable of your target market. Getting the right real estate agent is worth every penny.  Should you sign a contract? When you’re comfortable with a certain agent, they may ask you to sign a contract asking you to work exclusively with them for a set period of time.  Only you can decide if this is the right move. Read the contract and consider asking for an out if it doesn’t go well. If the realtor gives you a hard time, you may want to look elsewhere.  It’s also a good idea to run any contract by your attorney before you sign. Real estate legalese can be confusing, especially for a first-time homebuyer. Learn more: Hidden Costs of Buying a Home Is Buying a House a Good Investment? 3 Key Homeownership Steps to Consider 3. Get prequalified for a loan The next step is getting pre-qualified for a home loan through a lender or mortgage broker.  Talk to your real estate agent about finding a lender, or hop online and find a well-reviewed lender. You don’t have to go wild shopping around for a lender at this stage. The goal is simply to get a letter from a loan officer stating what kind of home loan you qualify for based on your financial information. What you need for prequalification: Credit report Income data Bank statements Expected down payment amount Estimated monthly payment  At this point, all information you provide is on the honor system. The lender may do a soft pull on your credit score, but they won’t investigate any of the documents you provide. You’re just looking for a loan estimate.  Getting prequalified isn’t required by law, but it can help you narrow down an area and a house that aligns with your budget.   4. Get preapproved for a loan  By now, you’ll probably be itching to start looking for houses. But there’s one more step: loan preapproval. This step is more complicated than getting prequalified because your lender will take a deep dive into your finances to decide whether you’re a worthy borrower. This is also where you will sort out your mortgage rates and terms with your lender.  Here are the most common types of mortgages you’ll be able to choose from: Fixed-rate conventional loans in which the borrower pays back an agreed-upon amount over a 30-year term are the most popular type of mortgage loan. Adjustable-rate mortgages come with interest rates that adjust annually. The main benefit to a borrower is that the loan usually has a lower interest rate upfront. An FHA loan is backed by the U.S. government. It is designed to help first-time homebuyers and lower- and middle-income families secure mortgage loans. You can put as little as 3.5% down on a home, and have a credit score of 580, and still qualify.  What you need for pre-approval: Full income history extending at least several months The lender will conduct a hard credit pull Bank statements Tax documents (personal and business) You’ll also have to fork over a few hundred dollars for a pre-approval letter.  This step isn’t mandatory either. Yet by obtaining a pre-approval letter, you’ll demonstrate to sellers and banks that you’re serious about putting an offer down on a property instead of just shopping around and wasting time. So it’s a good idea.  Learn more: How to Get Approved for a Home Loan First-Time Home Buyer Programs 3 Best Ways To Buy A Home in 2021 5. Go house hunting  Now comes the fun part: checking out properties. Be patient, but don’t hesitate to specify what you like and don’t like. Your realtor can’t read your mind, and any feedback you provide will make the home search process more efficient.  For example, if you need to have a yard or balcony, that excludes a number of properties. Or, if you really want a pool, that counts out most other listings. Keep in mind that shopping for a house takes a commitment, especially if you’re searching in a competitive market. Chances are you’ll have to dedicate nights, weekends, and possibly lunch hours to looking at houses for at least a few months. So you and your realtor are going to get to know each other pretty well. Remember that agents are busy people trying to make a living. If you clear an afternoon

[ad_1] So often, when I share about something we’re doing — sticking with a $70 grocery budget, staying out of debt, choosing to save up and pay cash for something, fostering, etc., people will immediately write in and let me know why they can’t do what we’re doing. Here’s the thing: I don’t share what I do online expecting that everyone is going to do exactly what we’re doing. Foster care might not be a possibility for you. You might be in a situation where a mortgage is a smarter idea than renting and saving up to pay cash. Maybe you live in an area where groceries are most expensive or there aren’t stores with great markdowns. If you see someone else doing something and your first response is to list the reasons why you can’t do what they are doing, I challenge you to stop saying, “I can’t.” Instead, ask yourself where the resistance is coming from. Is there part of you that feels like you want to cut your grocery bill or get out of debt or pay cash for something or be involved in foster care? In this episode, we encourage you (and ourselves!) to stop saying, “I can’t” and to ask instead, “What can I do?” We get really practical in discussing this. Plus, I recount an embarrassing moment to Jesse that happened on a radio interview that day, we discuss his receding hairline, we talk about books we are reading, we get on a rabbit trail about how he and I process things so differently, and I talk about my press-on nails. Yes, all in about 30 minutes. In This Episode: [00:33] Today, let’s chat about removing “I can’t” from your vocabulary. [01:21] But first, an embarrassing story about a radio interview I had recently. [06:25] Thinking and talking is definitely a skill many women can attest to. How about men? [07:27] Why husbands should and shouldn’t ask what their wives are thinking. [08:19] My press on nails are saving my life this week. [13:38] Listen as I set up Jesse’s life-saving tip for this week. [15:32] Jesse shares the routine that is now saving his life. [17:51] I’ve been reading Praying Mom by Brooke McGlothlin. [20:12] Jesse is reading Cross Shadow by Andrew Huff. [20:40] Stop saying “I can’t.” [22:35] Why resistance to change turns into “I can’t” statements. [24:24] If you’re coming up to the wall but you have a desire, take this challenge. [25:53] Think of what you can do versus what you can’t. [27:42] Is your response really “I can’t” or is it “I don’t want to?” [30:49] Maybe you’re not going to be able to accomplish that big thing, but it may be time for a small change. Links and Resources: Episode 120: How to Nix Your Negative Narrative (with Jon Acuff) imPRESS Nails Praying Mom by Brooke McGlothlin Cross Shadow by Andrew Huff 10 Days to Be a Happier Mom Sign up for the Hot Deals Email List MoneySavingMom.com My Instagram account (I’d love for you to follow me there! I usually hop on at least a few times per day and share behind-the-scenes photos and videos, my grocery store hauls, funny stories, or just anything I’m pondering or would like your advice or feedback on!) Have feedback on the show or suggestions for future episodes or topics? Send me an email: crystal@moneysavingmom.com How to Listen to the Crystal Paine Show The podcast is available on iTunes, Android, Stitcher, and Spotify. You can listen online through the direct player here. OR, a much easier way to listen is by subscribing to the podcast through a free podcast app on your phone. (Find instructions for how to subscribe to a podcast here.) Ready to dive in and listen? Hit the player above or search for “The Crystal Paine Show” on your favorite podcast app. [ad_2] Source link

[ad_1] Stocks extend losses following Fed minutes; yields rise [ad_2] Source link

[ad_1] 10.73 cr vaccine supply to states, UTs from May 1 to June 15 [ad_2] Source link

[ad_1] “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” — Benjamin Franklin, in a letter to Jean-Baptiste Le Roy, 1789. Thankfully, after more than a year with innumerable challenges, it appears that the pandemic will end. From an economic perspective, the government acted boldly to support households and businesses through the crisis with monetary and fiscal stimulus. Now, just as the recovery has commenced, after a four-year pause we are at the beginnings of another tax debate. In this column, my aim is to provide you with some of the context for this debate with respect to the state of the U.S. federal budget, particularly on the revenue side, and of overviews of the 2017 Tax Cuts and Jobs Act (TCJA) and President Biden’s tax plans and the two 2021 proposals: The American Jobs Plan and The American Families Plan. Government budget and tax statistics For those looking to quickly understand the current state of the U.S. federal budget, I would recommend looking at the new set of infographics put together by the Congressional Budget Office (CBO). As shown there, in fiscal year 2020, the federal government spent $6.6 trillion, while it took in $3.4 trillion in revenue. I expect I will be writing more about the implications of budget deficits that exceed $3 trillion in future columns, but today I wanted to focus on the revenue side. In FY 2020, the infographic shows that of those $3.4 trillion in revenues, individual income taxes accounted for $1.61 trillion, payroll taxes for $1.31 trillion, corporate taxes for $212 billion, and other revenues for $289 billion. Other revenues include remittances from the Federal Reserve ($82 billion), excise taxes ($87 billion), customs duties ($69 billion), estate and gift taxes ($18 billion), and miscellaneous fees and fines ($35 billion). I highlight these data both because it is interesting to see the relative magnitudes of these different revenue sources, and because it might surprise some people, given the amount of ink spilled on some of the smaller items. Next, it is worth looking at how tax revenues have changed over time. In Exhibit 1, revenues are measured here by the CBO as a share of GDP. The economy grows over time, and revenues on a dollar basis grow with it. Measuring these revenues as a share of GDP scales them appropriately. Tax revenues tend to increase when the economy is booming and fall during recessions. In addition to these changes, the different revenue components can rise or fall if tax policy changes. The major tax bills, including the TJCA, are shown in this chart. These four types of revenues are ranked the same as they are in dollar terms; and in total, revenues were 16.3% of GDP in FY 2020. On average, that share has been 16.8% over the last 20 years. In FY 2020, both individual and corporate taxes declined as a share of GDP due to the recession. Exhibit 1, Source: CBO Goals of tax reforms Understanding some of the top-line numbers with respect to the federal government’s revenues, let’s review the TJCA and discuss the changes that Biden’s tax plans are proposing. It is helpful to begin by thinking about what each proposal aimed to accomplish. At the highest level, tax reforms can be placed in one of three categories: tax increases, tax cuts, or revenue-neutral “fundamental” tax reforms. The goals of the first two are straightforward – to raise more revenue to address rising deficits or offset additional spending, in the first case, or to boost the economy by cutting taxes, in the second. A fundamental tax reform attempts to improve the efficiency with which taxes are collected to improve the economy’s functioning. Clearly, actual proposals can be combinations of these categories and the labels can sometimes be in the eye of the beholder. For the two proposals discussed here, the TCJA was a fundamental tax reform/tax cut with a goal to increase the rate of growth, while the Biden administration proposals overall represent a tax increase motivated to support increased spending. To its proponents, the TCJA was a fundamental tax reform with goals to lower marginal tax rates and broaden the tax base by eliminating deductions and exemptions. There were also efforts to simplify the tax code by doubling the standard deduction, which greatly reduced the number of households that needed to itemize deductions. Proponents forecast that this type of tax reform would make U.S. corporations more competitive, would increase productivity and economic growth, and as a result, would lead to a revenue neutral outcome – even though households and businesses would be paying at lower marginal rates. Those opposed to these changes argued that the cut in marginal rates for corporations and individuals would lead to a disproportionate tax break for those with higher incomes. That concern highlights another common goal of tax reforms, i.e., to alter the distribution of taxes paid.  Again, it is helpful to look at the data on this question. Exhibit 2 below shows the income before taxes, means-tested transfers, income taxes, and after-tax income by household income quintile. A few items to note: The highest income group has much higher average income on both a pre-tax and after-tax basis. This group also pays a large share of federal taxes. (Looking within this highest 20% of earners, this pattern is also true when you look at the top 1% or top 0.1%. The tax code is progressive, with higher earners paying at a higher rate). The middle three quintiles pay a smaller share of federal taxes, but don’t receive much in the way of means-tested transfers. As a result, their level and share of after-tax income is similar to that for their pre-tax income. The lowest 20% of earners receive most of the means-tested transfers and pay no federal income taxes. (They do pay payroll taxes). The combination means that after-tax income is higher than pre-tax