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[ad_1] Helping kids pay for college can be a wonderful gift, yet parents and families should always conduct due diligence before they take out any type of loan. For example, families should know exactly how much in loans they’re taking out, the interest rate they’ll be asked to pay, and the monthly payment they’ll need to plan for. Parent borrowers in particular should also understand they’ll be legally responsible for repaying student loan balances they co-sign for — even if their student doesn’t keep up with their end of the bargain. With all this in mind, there are several important tips and tricks that can help parents and their students get a better deal on private student loans, wind up with a more reasonable monthly payment, or pay off loan balances faster. Student boy happy with an excellent mark. School or college pupil showing parents a test with good grade, great study achievement. Science, education concept. Vector flat style cartoon illustration If you’re a parent who is considering co-signing private student loans, read on to learn the important steps you can take early in the process. 1. Shopping Around Can Pay Off First off, it’s important to know that you don’t have to go with the first student loan company you find. In fact, you can save money and enjoy better customer service if you shop around and compare lenders based on these factors. Start by comparing the interest rates lenders are able to offer, and look for lenders that let you pre-qualify or “check your rate” without a hard inquiry on your credit report. From there, take the time to read the user reviews of multiple lenders, and check for accreditation with the Better Business Bureau (BBB). If you want to lock in a low interest rate, now is a good time to shop for private student loans with fixed rates as well. After all, the Federal Reserve recently increased interest rates by a quarter of a percentage point, and they have already announced six more interest rate hikes in the next year. 2. Compare Multiple Repayment Plans Also make sure you consider private student loans with flexible repayment plans you can choose from. After all, you may want to pay off private student loans as quickly as possible in some situations, yet others need to pay longer in order to secure a lower monthly payment. As an example, College Ave Student Loans paves the way for most borrowers to pay their loans off over five to 15 years. This broad range of options can help you and your family find a monthly payment that fits your budget, whether that’s to pay it quickly as possibly or to have some flexibility with a lower monthly payment. 3. Early Payments Can Make a Big Difference As you shop around for loan options, you should also remember that you may be able to make interest-only payments while your child is in college, but you can also pay up to the full principal and interest and payment starting from month one. Having this flexibility gives you options when it comes to paying for college, yet it’s important to note that making early payments will help you keep loan costs at a minimum. According to College Ave, more than three quarters of their borrowers (76%) choose a repayment plan that lasts ten years or less. By choosing a shorter repayment term and making full principal and interest payments while your kid is in college, you can put student debt behind you faster and save money along the way. 4. Take Advantage of Discounts Speaking of saving money, also make sure to check for any discounts you may be eligible for. The most common discount is the auto-pay discount, which can be applied to your account when you agree to let your lender automatically deduct your bank account for your payment amount. With College Ave for example, the 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. By signing up for auto-pay, you also ensure there will be no missed or late payments. 5. Look for Ways to Borrow Less Also make sure you and your college student are doing everything you can to minimize borrowing costs. Ways to pay less for higher education can include things like living at home instead of on-campus, attending a state school instead of a private university, and even attending community college. Remember that borrowing less for college can help you save in more than one way as well. Not only can you take steps to minimize your initial loan amounts, but borrowing less leads to lower interest charges over the long run. 6. Student Loan Calculators Are a Valuable Tool Finally, you should have access to tools that can help you visualize the full impact of borrowing money for college. Believe it or not, but something as simple as a student loan calculator can help you gain a full understanding of how much you’re borrowing, what your monthly payment will be, and the total interest charges that can accrue over the life of a loan. As an example, let’s say you plan to borrow $20,000 to help your college student pay for their graduate degree. If you qualified for a fixed interest rate of 4% and chose to repay your loan over ten years, a student loan calculator can help you see that the monthly payment would be $206.54, and that the total loan costs would work out to $24,784.81. You can even use a student loan calculator to see the impact of making full principal and interest payments during college versus making interest-only payments or flat payments during school. Final Thoughts Private student loans can help you finance one of the most important investments you’ll ever make — an investment in your child’s education. However, borrowing should never be taken lightly, and it’s important to know you’ll have to pay back the entire loan amount

[ad_1] The post Honeydue Review: Free Budgeting App for Couples appeared first on Millennial Money. Anyone in a relationship knows that budgeting is a touchy subject. It’s also a leading cause of arguments (and even divorce) among couples. With this in mind, staying organized and having a financial plan with your significant other is always a good idea. Shared expenses don’t need to be a struggle, and apps like Honeydue can guide you toward power couple status. In this post, I’ll run through how Honeydue can simplify your budgeting. I’ll also compare it to other budgeting apps and weigh its pros and cons to help you figure out if the app makes sense for you.  Let’s start with a look at what Honeydue is and how it works.  Overall Rating Pros 100% free Easy-to-use budgeting app for couples Highly-rated iPhone app Optional Joint Cash account Cons No signup bonus Limited customer support No APY earning on Joint Cash deposits No round up or investing features What Is Honeydue? Honeydue is a budgeting app with one simple mission: helping couples manage their money better together. You can link your bank accounts, coordinate bill payments, and even open a joint checking account through the app. Rather than constantly updating a shared spreadsheet, the couple’s expenses are visible in the app in real time.  Now that you have a better idea of what Honeydue is, let’s examine some of its features and the user experience for handling personal finance as a couple. Honeydue Features Mobile App Honeydue is entirely app-based, and it’s available on both iOS and Android devices. At the moment, the app has a commendable 4.5-star rating (out of 5) in the App Store and 4 stars (out of 5) in the Google Play Store.  Account Tracking When couples sign up for Honeydue, the first step is to link all of your relevant accounts so that the app can track them. This could include bank account, loan, credit card, investment account — whatever makes the most sense for your unique financial situation as a couple.  The more you add, the better overall picture you’ll have of your monthly spending habits, shared financial position, and financial goals. Honeydue supports more than 20,000 financial institutions across five countries, so odds are you won’t have an issue adding yours.  Once your accounts are linked, you’ll have control over what your partner can and can’t see. For example, you can choose to share your account balance and transactions, just the balance, or nothing at all. Honeydue recommends couples start out with “balances only.”  For deeper insight into your spending, the app breaks transactions down into 17 different preset categories. But you can also add your own categories to fit your personal budgeting style.  Bill Reminders Honeydue offers due date reminders to help you stay away from late fees or missed payments. In the app, you can enter your recurring bills along with who’s responsible for paying them. When it comes time to pay, Honeydue will hit you or your partner with a reminder notification, which should help you settle your bills on time. You can also split expenses and easily keep track of who owes what. Similar to apps like SplitWise, you can enter in all of your shared costs and the app will compute the total balance to help you settle up. Live Chat One of the most helpful features of Honeydue is its in-app chat function.  Suppose you’re curious about a questionable transaction that your partner made. In that case, you can send your partner a direct message — or a sassy emoji 😉 — rather than flipping back and forth between your messaging and personal finance apps.  Plus, you can easily discuss specific charges in the app rather than having to take a screenshot from one account and forward it along in a text. Keep discussions of your partner’s weird spending habit or your shared savings goal in the app and out of the bedroom. Joint Cash Account Honeydue’s Joint Cash account is a joint bank account both you and your partner can use. Joint Cash is FDIC-insured through Honeydue’s partnership with Sutton Bank. Here are the main features that come with a Joint Cash account: Visa debit cards for each of you No monthly fees or minimum deposit requirements Fee-free access to more than 55,000 ATMs nationwide with your Visa card Custom notifications Real-time balance updates Modern budgeting tools Honeydue Pricing and Fees Honeydue’s money management platform is entirely free. It does solicit its users for tips, but these are completely optional. If you like the platform, you can choose to add a recurring tip between $1 and $10 per month, which you can cancel at any time — or never offer in the first place.  The good news is that whether you tip or not won’t affect your account status, and none of Honeydue’s features sit behind a paywall.  Signing Up and Getting Started To get started with Honeydue, all you need to do is download the app and enter your email address. It takes less than a minute to set up an account.  After confirming your email, you have the option to invite your partner immediately or reach out to them later on. The same goes for adding your recurring bills and bank accounts.  You’ll need to enter some additional information to sign up for a Joint Cash account. Luckily, this won’t affect your credit score because Honeydue doesn’t run a credit check.  Honeydue Promotions, Bonuses, and Coupons At the time of this writing, Honeydue isn’t offering any sign-up bonuses or promotions for new accounts. The Joint Cash account is relatively new, though, so it wouldn’t come as a surprise if Honeydue eventually runs a promotion to attract new signups.  I’ll keep you updated if and when a bonus shows up, so keep checking back.  Honeydue Security To use Honeydue effectively, you need to link your most sensitive financial information.  Fortunately, Honeydue has bank-level security practices in place to

[ad_1] Don’t miss this great freebie from Subway! Subway is giving away one million FREE 6-inch Subway Series subs on July 12th! Just stop by from 10AM to 12PM and request your free 6″ Sub. Thanks, Freebie Shark! [ad_2] Source link

[ad_1] Novak Djokovic waited. He waited for Nick Kyrgios to lose focus and lose his way. Waited to find the proper read on his foe’s big serves. Waited until his own level rose to the occasion. Djokovic is not bothered by a deficit — in a game, a set, a match. He does not mind problem-solving. And at Wimbledon, for quite some time now, he does not get defeated. Djokovic used his steady brilliance to beat the ace-delivering, trick-shot-hitting, constantly chattering Kyrgios 4-6, 6-3, 6-4, 7-6 (3) on Sunday for a fourth consecutive championship at the All England Club and seventh overall. “Every single time, it gets more and more meaningful and special,” the top-seeded Djokovic said. “It always has been, and will be, the most special tournament in my heart. The one that motivated me and inspired me to start playing tennis in a small little mountain resort in Serbia.” He extended his unbeaten run at the grass-court Grand Slam tournament to 28 matches and raised his career haul to 21 major trophies, breaking a tie with Roger Federer and moving just one behind Rafael Nadal’s 22 for the most in the history of men’s tennis. Among men, only Federer, with eight, has won more titles at Wimbledon than Djokovic. In the professional era, only Federer was older (by less than a year) than the 35-year-old Djokovic when winning at the All England Club. This comeback on a sun-filled afternoon followed those in the quarterfinals, when Djokovic erased a two-set deficit against No. 10 seed Jannik Sinner, and in the semifinals, when No. 9 Cam Norrie grabbed the opening set. In last year’s title match at Wimbledon, Djokovic dropped the opening set. In the 2019 final, he erased two championship points against Federer. Kyrgios was terrific at the start Sunday, almost perfect in the first set, with 11 aces before he made a second unforced error. Could it last, though? There were two particularly key moments, ones that Kyrgios would not let go as he began engaging in running monologues, shouting at himself or his entourage (which does not include a full-time coach), earning a warning for cursing, finding reason to disagree with the chair umpire he fist-bumped before the match, and chucking a water bottle. In the second set, with Djokovic serving at 5-3, Kyrgios got to love-40 — a trio of break points. But Kyrgios played a couple of casual returns, and Djokovic eventually held. When that set ended, Kyrgios waved dismissively toward his box, sat down and dropped his racket to the turf, then groused, to no one in particular: “It was love-40! Can it get any bigger or what?! Is that big enough for you?!” And then, in the third set, with Kyrgios serving at 4-all, 40-love, he again let a seemingly sealed game get away, with Djokovic breaking there. The 40th-ranked Kyrgios was trying to become the first unseeded men’s champion at Wimbledon since Goran Ivanisevic in 2001. Ivanisevic is now Djokovic’s coach and was in the Centre Court guest box for the match. Kyrgios, the 27-year-old Australian, had never had been past the quarterfinals in 29 previous Grand Slam appearances — and the last time he made it even that far was 7 1/2 years ago. Still, his talent is unmistakable. But over the years, Kyrgios has drawn more notice for his preference for style over substance on court, his tempestuousness that has earned him ejections and suspensions and his taste for the nightlife. During the past two weeks alone, Kyrgios racked up $14,000 in fines — one for spitting at a heckling spectator after a first-round victory, another for cursing during a wildly contentious win against No. 4 seed Stefanos Tsitsipas in the third round — and caught flack for wearing a red hat and sneakers before or after matches at a place where all-white clothing is mandated. Word also emerged that he is due in court in Australia to face an assault allegation. On Sunday, Kyrgios tried shots between his legs, hit some with his back to the net, pounded serves at up to 136 mph and produced 30 aces. He used an underarm serve, then faked one later. For all of the significant records and other factoids logged in the 560-page Wimbledon Compendium — including categories such as “ambidextrous players” or “runners-up who wore glasses in a final” — no mention is made of “underarm serves in a gentleman’s final,” but it seems safe to say that was a first. Perhaps, in some ways, it would have been fitting for such a unique player to emerge as the champion at such a unique Wimbledon. All players representing Russia or Belarus were banned by the All England Club because of the war in Ukraine; among the men that kept out of the field were No. 1-ranked Daniil Medvedev, the reigning U.S. Open champion, and No. 8 Andrey Rublev. In response, the WTA and ATP professional tennis tours took the unprecedented step of revoking all ranking points from Wimbledon. A woman who was born in Russia but has represented Kazakhstan for four years, Elena Rybakina, won the women’s trophy Saturday with a 3-6, 6-2, 6-2 victory over Ons Jabeur. It was the first Wimbledon title match since 1962 between two women making their Grand Slam final debuts, and Rybakina, at No. 23, is the second-lowest female champion at the All England Club since WTA computerized rankings began in 1975. There’s more: Federer missed the tournament for the first time since the late 1990s because he is still recovering from a series of operations on his right knee. The No. 2 man in the rankings, Alexander Zverev, sat out after tearing ankle ligaments at the French Open. Three of the top 20 seeded men, including 2021 runner-up Matteo Berrettini, pulled out of Wimbledon after it began because they tested positive for COVID-19. And Nadal withdrew before he was supposed to face Kyrgios in the semifinals, the first time since 1931 that a

[ad_1] Institutional players in the single-family rental (SFR) market have been expanding their reach into select American neighborhoods since the global financial crisis of 2008, but they now find themselves in an uncomfortable limelight.  They are under scrutiny in Congress and accused of gentrifying minority neighborhoods and allegedly displacing large numbers of people of color — Black residents in particular. That is a major takeaway in a Congressional subcommittee report on a recent survey of the nation’s five largest institutional owners and operators of SFR homes. The survey, sponsored by the Democrat-controlled U.S. House Financial Services Committee’s Subcommittee on Oversight and Investigations (the subcommittee), was sent to the following companies: Invitation Homes; American Homes 4 Rent; FirstKey Homes (owned by Cerberus Capital Management); Progress Residential (owned by Pretium Partners); and Amherst Residential. As of the end of the third quarter of last year, according to the report, those five companies owned a total of 280,637 single-family rental properties. “To fund their acquisitions, companies raise billions of dollars in capital from hedge funds, pension funds, ultra-high net worth individuals, and other institutional investors, who such companies consider to be their customers,” the House subcommittee’s report on its survey findings state. “The ability of SFR companies to purchase homes with cash provides a competitive advantage.” The financial muscle of these institutional SFR companies also is revealed in securitization deals tracked by Kroll Bond Rating Agency (KBRA). The bond-rating agency’s data shows that so far this year, institutional players — including companies like Progress Residential, FirstKey Homes and Tricon Residential — have undertaken total of 11 private-label SFR securitization deals involving some $8.2 billion in corporate notes secured by a total of some 27,200 rental properties, primarily single-family dwellings.  “Despite the growing appetite for SFR investments, institutional equity ownership in the overall SFR market today is still estimated at only around 2%,” a market insight report from MetLife Investment Management (MIM) states. “MIM believes [however] that institutional SFR ownership is likely to grow significantly over the next decade. “MIM’s analysis indicates that simply moving institutional ownership of SFR from 2% today to 10% [of the investment-property market] in the future will result in a need for over $200 billion in incremental debt financing.”  Today, the bulk of second homes and investment properties nationwide are still owned by smaller real estate firms and so-called “mom-and-pop” investors. Critics of the institutional SFR companies, however, point out that those national figures distort the concentrated nature of the problems created by the “Wall Street” investors. “Securitized SFR homes are heavily clustered in the Sunbelt, which comprises the Southeastern, Southwestern and Western U.S. region, and in communities that previously experienced high foreclosure rates following the 2008 financial crisis,” the House subcommittee’s report on its findings states. “For example, in the third quarter of 2021 alone, institutional investors bought 42.8% of homes for sale in the Atlanta metro area and 38.8% of homes in the Phoenix-Glendale-Scottsdale area.” The House subcommittee punctuated its survey results by holding a public hearing recently — on Tuesday, June 28 — titled “Where have all the houses gone? Private equity, single-family rentals and America’s neighborhoods.” “Today’s hearing will examine troubling issues regarding the mass predatory purchasing of single-family homes by private-equity firms, including the adverse impact predatory purchasing has had on first-time homebuyers, the working class and people of color,” said U.S. Rep. Al Green, D-Texas, chairman of the House subcommittee, in his opening remarks. “…These private-equity firms have the advantage of being able to purchase these homes with cash; therefore, they easily out-compete individual buyers who may require loans. This all has the troubling effect of displacing residents of color and leading to gentrification of these communities.” The major findings of the House subcommittee’s survey of the five leading institutional SFR companies, coupled with data from the U.S. Census Bureau’s American Community Survey, are as follows: The five SFR companies expanded their housing stock between March 31, 2018, and September 30, 2021, by 27% — with a total net property gain of 76,235 single-family homes. They also tended to acquire homes in neighborhoods with Black populations significantly greater than the national average. “The average population represented across the companies’ top 20 zip codes was 40.2% Black, which is over three times the Black population in the U.S. (13.4%),” the House subcommittee’s summary of the survey findings state. The companies also tended to purchase homes in areas with lower home prices but higher rents. “The average median gross rent in the five companies’ 20 top zip-code tract areas ($1,259) was approximately 13% above the national median ($1,096),” the House committee’s report states. The companies also increased fees per lease by 40% over the survey period — from $147.20 in 2018 to $205.29 in 2021. And, finally, the House subcommittee reported that the “total number of tenants behind on rent and fees increased by almost two-fold [over the survey period], with tenants with rental arrears increasing from 11.3% in 2018 to 19.1% in 2021, and the number of tenants with fee arears increasing from 10% in 2018 to 20.7% in 2021.” Witnesses called to testify before the subcommittee in the hearing held last week were vocal in their concerns over the growing influence of Wall Street-backed SFR companies.  “Just over a decade ago, no single landlord owned more than 1,000 homes,” said Jim Baker, executive director of the Private Equity Shareholder Project, one of five witnesses who testified before the subcommittee on June 28. “Now the top five [institutional SFR players] … together own or operate almost 300,000.” Shad Bogany, a real estate broker with Better Homes and Gardens Real Estate in Houston, said these institutional SFR buyers are targeting minority communities because historically such neighborhoods are undervalued and have lower-priced homes. This practice, he claimed, “drives up the prices for [existing] residents,” making “the dream of homeownership for the population unachievable.” “Homebuyers are having to compete with investors that are paying in cash over the list price, resulting in an increase in investor purchases,” Bogany said. “Investors are creating a generation of renters who will miss out on the benefits of homeownership and the ability to create wealth and stabilize communities.

[ad_1] Credit card rewards points are awesome, if you can redeem them for things you actually want. We all have different goals and plans, and on top of that our spending habits and needs can change over time. That’s why having lots of options to choose from is key to a worthwhile rewards program. Let’s look at how to pick one that suits your lifestyle—for today and in the future. How to choose a rewards program When it comes to selecting the best credit card rewards program for you and your lifestyle, there are two major considerations to take into account: Reward options One of the first things to look for in a rewards credit card is whether it offers the experiences and items that you really want. You’re more likely to find them in a card with a rich rewards catalogue. The MBNA Rewards Platinum Plus Mastercard* is a prime example. When you use this card for everyday purchases, you collect valuable points you can redeem toward anything on the MBNA Rewards website, including travel, brand-name merchandise, gift cards, cash back and even charitable donations. All these options mean you’re bound to find something you’ll value, no matter your lifestyle or goals. For example, if you’ve got a big family, you might want to collect points for experiences, gift cards, or goods and appliances for your home and garden. If you’re a traveller, you have the flexibility to choose from airfare, hotels and car rentals—or redeem for new luggage and travel gear to bring on your trips. And if you’re “the person who has everything,” you could donate your rewards points to partnered charities. With this many redemption options, holding the MBNA Rewards Platinum Plus Mastercard is pretty much like having a cash-back card, travel card and rewards card all in one. Attractive earn rates in your most-used spending categories The second consideration when choosing a rewards card: How strong are the earn rates in your most-used spending categories? The more points you can earn, the faster you’ll get to your rewards. The MBNA Rewards Platinum Plus Mastercard gives you 2 points per $1 spent on groceries, restaurants, digital media, memberships and household utilities purchases, and 1 point per $1 on everything else. Before long, you’ll be redeeming for a new barbecue grill, iPhone 12 or those Ray-Ban aviators you’ve been eyeing. What else should you look for in a new rewards card? Here are four other card benefits that can make your life easier and help you make the most of your rewards. No annual fee: If you choose a no-annual-fee card, you don’t have to worry about fees cutting into your rewards. With the MBNA Rewards Platinum Plus Mastercard, you get all the perks that come with an annual-fee rewards card without the annual fee. (More on the perks below.) Online rewards redemption: Everything from shopping to banking takes place online, and there’s no reason your rewards redemption shouldn’t be just as easy. You can redeem your MBNA Rewards points simply by visiting the MBNA Rewards website and making your selections. No expiry date on rewards points: Avoid the frustration of collecting points toward a big redemption only to have them expire. MBNA Rewards points never expire, so there’s no deadline rush to use them, and you can save them up for larger rewards. Welcome offers: Welcome bonuses can be extremely valuable. Case in point: The MBNA Rewards Platinum Plus Mastercard offers a doubled earn rate for the first 90 days. That’s 4 points per $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases, and 2 points for every $1 spent on everything else, up to $10,000 in each earn rate category. Enjoy valuable perks and extras Some credit cards include little perks and extras that can really come in handy. The MBNA Rewards Platinum Plus Mastercard includes mobile device insurance up to $1,000, savings on car rentals at Avis and Budget, and purchase insurance and extended warranty benefits. Plus, you have access to the MBNA Payment Plan, which allows you to pay for eligible credit card purchases of $100 or more in monthly payments rather than a lump sum. When you match your lifestyle and spending habits to the offers available with a rewards credit card, you’ll boost your benefits and reach your rewards faster. MBNA Rewards Platinum Plus Mastercard* The MBNA Rewards Platinum Mastercard has no annual fee—an unusual feature for a card with a robust rewards program. Annual fee: $0 Welcome offer: For the first 90 days, you can get up to 10,000 points (approx. $50 in cash back): 5,000 for registering for paperless e-statements, 5,000 for spending $500 in purchases with the card. Plus, earn 4 points for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases. Interest rate: 19.99% on purchases, 22.99% on balance transfers, 24.99% on cash advances Additional benefits: MBNA Payment Plan, mobile device insurance, purchase assurance, extended warranty benefits and savings at Avis and Budget Get more details about the MBNA Rewards Platinum Plus Mastercard* Go to Site Read more about credit cards: Make your purchases count with credit card rewards Canada’s best no-fee credit cards 2022 Are you paying too much credit card interest? How to lower your credit card interest rate What does the * mean? If a link has an asterisk (*) at the end of it, that means it’s an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It’s important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it’s included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy. The post Are you getting the most out of your credit card rewards? appeared

[ad_1] Where investors use crypto exchanges as trading platforms to buy, sell, and trade various cryptocurrencies, the best cryptocurrency wallets give them a place to store their digital assets. This distinction is important since crypto exchanges don’t always offer the best security, and since having a digital wallet ensures you always have exclusive access to your own private keys. That said, the best crypto wallets all work differently, and some offer more security features and services than others. If you’re ready to move your crypto from an exchange to a crypto wallet where you have more control, read on to learn about our top picks. #ap21643-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Archivo, sans-serif}#ap21643-ww #ap21643-ww-indicator{text-align:right;color:#4a4a4a}#ap21643-ww #ap21643-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap21643-ww #ap21643-ww-indicator-wrapper:hover #ap21643-ww-text{display:block}#ap21643-ww #ap21643-ww-indicator-wrapper:hover #ap21643-ww-label{display:none}#ap21643-ww #ap21643-ww-text{margin:auto 3px auto auto}#ap21643-ww #ap21643-ww-label{margin-left:4px;margin-right:3px}#ap21643-ww #ap21643-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap21643-ww #ap21643-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap21643-ww #ap21643-ww-text-bottom{margin:5px}#ap21643-ww #ap21643-ww-text{display:none}#ap21643-ww #ap21643-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. 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[ad_1] The post How Rental Property Depreciation Works  appeared first on Millennial Money. If you’re considering a real estate investment opportunity, rental property depreciation is one of the most useful hacks to know about. This is a critical tool that you can use to deduct the costs of buying and maintaining your property—potentially leading to significant savings over the course of your investment and more favorable tax returns along with it. It can also potentially lower the entire cost of a real estate investment. Doesn’t sound too bad, does it? This post explores what rental property depreciation is, how it works, and the benefit of using it to lower your tax liability. Table of contents Annual Depreciation: A Guide for Real Estate Investors Qualifying for Depreciation Tax Benefits  1. You Own the Property 2. The Property Is an Investment  3. The Property Will Last More Than a Year  4. It Must Have a Determinable Useful Life  What Is Depreciation Recapture? Examples of Depreciable Property Single vs. Multi-Year Expenses  How to Calculate Real Estate Depreciation  Know the Difference: ACRS vs. MACRS Real Estate Investor vs. Professional Tips for Rental Property Tax Deductions with Real Estate Investing Work with a Tax Professional for Rental Property Depreciation Get a Cost Segregation Study  Consider a 1031 Exchange  Frequently Asked Questions (FAQs) When Does the Depreciating Period Start? Is Land Depreciable? What Is Cost Basis? Do You Have to Produce Rental Income to Claim Depreciation? Do You Have to Depreciate Rental Property and Write off Expenses? Do You Have to Report Rental Income? The Bottom Line Annual Depreciation: A Guide for Real Estate Investors The Internal Revenue Service (IRS) recognizes that buildings require a lot of maintenance and tend to degrade over time. It’s only a matter of time before residential rental property owners need to rip up and replace the carpeting and install new windows, after all. At the same time, buildings often become outdated. For example, lighting fixtures or even appliances can go out of fashion. You need to update these types of things from time to time for a property to maintain its value—and for you as an investor to keep cash flow running smoothly. As a result of all this, the IRS lets you spread the cost of some assets over their entire useful life expectancy—instead of all at once when you buy a property. Qualifying for Depreciation Tax Benefits  Unfortunately, just because you own a house doesn’t mean that it’s automatically eligible for depreciation benefits. There are some rules that you have to follow, which we’ll briefly examine next. 1. You Own the Property You can’t claim a depreciation benefit on a property you don’t own. You have to be the sole proprietor of the property. In other words, you can’t rent or sublet a property from someone else, put it on Airbnb, and claim a depreciation credit. That would be committing tax fraud. 2. The Property Is an Investment  You also can’t claim a depreciation tax on the house that you live in. It has to be an investment property, meaning you purchased it with the goal of profiting from it. 3. The Property Will Last More Than a Year  A depreciation tax is for long-term investing. In other words, you can’t claim an income tax benefit on a property you intend to sell within a year. You have to buy the property with the intention of holding it through at least the first year to claim a depreciation tax benefit. 4. It Must Have a Determinable Useful Life  The property must be a sound structure like an apartment building or a single-family or multi-family house. In other words, it can’t be of questionable structure or form, like a hut or a tree house. The property must be of sound design with obvious uses. What Is Depreciation Recapture? Depreciation recapture refers to the gain resulting from the sale of depreciable property. This occurs when an asset’s sale price is more than the adjusted cost basis or tax basis. When this happens, you’ll report the property as ordinary income to the Internal Revenue Service on IRS form 4797. In short, depreciation enables the IRS to collect taxes on an asset that was previously used to offset taxable income. To determine the amount of depreciation recapture, compare the asset’s cost basis to the sale price. Examples of Depreciable Property Depreciable property can extend beyond a building itself. It can include tangible property, like vehicles, equipment, and technology. It can also include intangible assets like copyrights, software, and patents. That said, there are some restrictions. For example, you can’t depreciate land or collectibles like art. It’s also against the rules to depreciate personal property (e.g., clothes or a car you drive for nonwork purposes). Single vs. Multi-Year Expenses  Not all types of expenses qualify as depreciation on your rental real estate property. For example, snow removal or sealing your concrete is most likely considered a single-year expense, meaning you’ll pay for them at one time instead of repeatedly over a period of time. Other examples of single-year expenses include mortgage insurance, property taxes, and operating expenses as well as other small repairs. However, suppose you want to add a new deck or replace your floors. In this case, you would determine the lifespan of these investments and spread the cost over the course of many years. Talk to a tax advisor if you have any questions about what constitutes a small repair versus a larger one to determine whether you can take the depreciation expense and reap the associated tax advantages. This is not something you want to guess about, as the wrong decision could raise a red flag to the IRS. Learn More: Rental Property Due Diligence Checklist Investing In Rental Properties How to Get a Mortgage for a Rental Property How to Calculate Real Estate Depreciation  To calculate depreciation, you’ll need to determine the perceived decrease in the value of a property over a period spanning 27.5 years. Use

[ad_1] Don’t miss this list of Tax Free Weekends 2022 by state! — just in time for back to school shopping! {Looking for other ways to save during back to school season? Read my post on 5 Simple Tips for Saving Big on Back to School Expenses.} If you live in a state that does tax free weekends, get ready! They’re about to start popping up for back to school shopping! You can go here to check out the list and find your state. I know summer just started, but back to school shopping season will be here before we know it! Psst! We’ll be posting all our favorite in-store and online back to school sales again this year. Just go here and bookmark this page to see all the best back to school deals as soon as they go live! [ad_2] Source link

[ad_1] By Ashwin Shekar The last decade in India saw the arrival and rise of fantasy sports gaming at a phenomenal rate of 700%. It now stands as the biggest Fantasy Sports market worldwide with a user base of over 13 crores, a figure expected to grow further at a CAGR of 32% in times ahead. The market size is projected to reach an estimated Rs 1,65,000 cr by FY25, from Rs 34,600 crore in FY21, clocking a CAGR of 38% (Source- The Federation of Indian Fantasy Sports and Deloitte report, ‘Fantasy Sports: Creating a Virtuous Cycle of Sports Development’). Undoubtedly, this creates immense potential opportunities for advertisers and marketers concerning user acquisition goals. Sports events in the post-COVID era As we steadily move forward in the ‘New Normal’ era, many sporting events have begun to open their doors to the larger public, garnering viewers from across the globe. The Euro 2020 finals for example, brought in a prime audience of 31 million viewers on BBC and ITV. The two-week-long French Open 2022 tournament’s viewership broke the 42-million mark – a new record since its 2012 edition. This year’s Indian Premier League (IPL) saw more than 100 brands featured across mediums. Furthermore, 700 million viewers across the globe tuned in to watch the 2021 final of The UEFA Champions League held in Kyiv. The Fifa World Cup tournament will be hosted in the Middle East (Qatar) this year. The stakes are high, considering the 2018 FIFA World Cup was viewed by a combined 3.572 billion people – more than half of the global population aged four and above. With the Champions League 2022-23 having kick-started a few weeks ago, other major sporting events such as Wimbledon, Tour de France and Commonwealth Games are scheduled for later this year. With so many eyeballs to grab, it enables endless possibilities for mobile marketers to stand out from the crowd where they can get peak visibility to showcase and advertise their sports apps. Expanding reach with mobile OEMs is a win-win situation for sports app marketers Mobile OEMs (Original Equipment Manufacturers) are smartphone manufacturers like Oppo (Realme and OnePlus), Vivo, Samsung, and Xiaomi who have global user audiences- a combined worldwide market share of 48% as of December 2021. These mobile OEMs have their own app stores for their devices, also known as alternative app stores, and resell their inventory. This empowers mobile app developers and marketers to leverage the vast user bases they own during these peak sporting events such as those scheduled in 2022. The sporting industry is profitably benefitting from the revolution of smartphones globally. The global sports market is expected to grow from $354.96 billion in 2021 to $501.43 billion in 2022 at a compound annual growth rate (CAGR) of 41.3% (Source- Sports Global Market Report 2022). Marketers should identify the most relevant sports events to tap into newer and more extensive audiences within mobile OEMs, allowing them to increase the reach and audience for their mobile app in the sports category. Never was a better time for sports app marketers to make the best of major sporting events than in 2022.. Considered as two of the top advertisers in the sports app category, MPL and Dream11 amongst other players leveraged the IPL 2022 season for brand promotional activities and user acquisition campaigns. There will be a positive response from users in the sports category in the coming years, as sports apps on Google Play will reach nearly one billion downloads by 2023. It’s time for sports apps to reign supreme with OEMs during the peak sporting events. Let’s understand how.. With mobile OEM app advertising, marketers can leverage an exclusive app store featuring per day and specific dates with multiple advertising formats such as video ads, rewarded ads, native ads, and banner ads with unique ad placements. They can also get exclusive screen takeovers with splash ads which allow them to show the best of their sports and gaming apps on the entire smartphone screen in a video format to create instant brand awareness and interest among users. Appographic Targeting helps in promoting apps to users with similar interests beyond category and ownership to elevate app install rates. Additionally, mobile OEMs offer customized push notifications to target high-value users during sporting events to enable app discovery, as there is a 72.71% YoY growth for gaming apps. Mobile marketers should explore PMP deals at private marketplaces (PMPs) with mobile OEMs. Marketers can bid on suggested inventories for a specific time, such as the seasonal events, to get the best out of their user acquisition campaigns. The road ahead.. Mobile OEMs provide brand-safe, fraud-free, and more cost-effective opportunities for mobile marketers due to lower CPIs, thus offering the same benefits as 3rd party networks such as Google and Facebook. Not only do mobile OEMs and their alternative app stores offer all these benefits to mobile marketers in the sports and gaming category during the sports event season, but also a great alternative source to find fresh new users that one should not miss irrespective of the app category. The author is co-founder, AVOW [ad_2] Source link