Throughout the span of an individual’s role as a financial bearer in one’s family or business, it is an established fact that days are not always sunny nor are the roses always in its brightest of shades. There always comes an up and down sequence as is the nature in which the course of the days proceed. If anyone could commit to having equally enthralling days financially or otherwise, that person would easily qualify as a demi God as it is virtually and logically impossible.

Under normal terms and conditions, it is an established fact that as a law abiding and responsible citizen each and every member of the population of a state or a country would give a small sum form their regular income towards tax which in turn is responsible for welfare and betterment of one’s life and the amenities they live around. Under normal and healthy situations, an individual is more than happy to do his or her bit for the society they live in. However, the scenario does really change when a person falls into one of those unforeseen gaps that life keeps as a bitter surprise.

Financial trouble is something one might or might not see before it comes knocking on one’s door. Such problems may arise owing to multiple factors depending on the kind of earning the individual has. Regardless of the reason behind declaring bankruptcy, it is crucial for all to understand what happens tax wise when one applies for legal bankruptcy measures.

The IRS or internal revenue service holds major ground when it comes to saving a person from immense financial struggle and hardship. It is crucial for any individual to legally seek help from the court in cases of such intensity as there is a lot that can be done when hope seems at its lowest point in terms of financial state of being.

The IRS is one of the foremost bodies in the government that is responsible to regulate financial circulation in terms of inflow and outflow of tax from commoners and back to the society in forms of amenities and other necessities.

In times of immense financial hardships, one might easily find themselves in a difficult spot wherein their earning is not enough to meet the tax payment bracket and barely enough to meet basic expenditures for the necessities in life. Here is where upon filing for bankruptcy, the IRS comes to help and ease out the pressure form an individual’s shoulders. The IRS can not definitely erase the taxes a person owes to the government; however, it sure can reduce the percentile owed and the increase time period facilitated to pay the amount. In times of desperate measures, this step can for sure ease up some of the stress in a person’s mind and help him or her to recuperate from the financial upheaval they find themselves in.

Managing home finances is all about being smart and thinking logically at every challenge put forth you. Take home loans for example. If you are a seasoned home buyer, you will know the pain. What about the first timers? Following are the most workable and smart solutions if you are looking for the best mortgage lenders in town:

Set a good credit score
Best mortgage lenders look for borrowers who meet a certain credit and annual income criteria. These are the two most important norms to qualify for buying a home. A bad credit score may send wrong signs to lenders, which means they may give you a loan at a higher interest rate. The better your credit score and frequent on-time payments, you eventually become the favorable customer. This will also put you in a better position for negotiation for better rates with potential lenders.

To form a good credit score, first you need to have an accurate and error-free report. You can get your report from major credit bureaus.

Know the lending landscape
Out of the lot, it is quite difficult to distinguish between the best mortgage lenders. Here are the most common types of lenders you will get to choose from:

Credit unions: These type of financial institutions generally offer lower interest rates to borrowers. Many of them often have eased membership constraints, making it easy for one to join.
Mortgage bankers: They work for one financial institution and provide loans approved by the bank’s underwriters.
Correspondent lenders: These are local mortgage organizations that provide loan.
Savings and loans: These are smaller financial institutions and are found in the communities.
Mutual savings banks: They are thrift institutions, like savings and loans, and are locally focused and often competitive.

Compare rates from several mortgage lenders
This is where you need to give your sweat and blood and do a bit of research. As discussed, there are all kinds of mortgage lenders, ranging from neighborhood banks, big commercial banks to credit unions and online mortgage lenders.

You can start by searching the best mortgage rates on the Internet. You can further negotiate the rates with the lender or broker, who will access your credit information and process a loan application to provide an accurate rate.

You can also pick the right lender/broker from the best mortgage lenders by asking the right questions. Ask for referrals from friends, family, or your real estate agent, or by reading online reviews. Examine the names referred to you and pick the best.

Online payment services have become an increasing necessity in the modern world in order to facilitate cashless transactions beyond the working hours of a bank. These online payment services range from credit cards, e-wallets, net banking and many other digital payment systems available to users and merchants all around the clock.

These online payment services can be broadly categorized into three most basic transaction models such as the cash based, post-paid and pre-paid models. The cash based model is the exchange of cash without any central processing fee or additional cost for the transaction. While the post-paid model gives a user transaction privileges like a bank at some minimal additional cost, the pre-paid model allows the purchase of pre-paid tokens for future use without incurring any charges. Although all these systems contain minimum security, the issue of fraud or liability on a phishing scam would be the user’s responsibility as the online payment service providers would vouch only for their payment transactions and not for the third-party vendors.

An online payment service medium is not just a tool for an individual to make online purchases from different intreat sites but also a medium for traditional shop sellers to expand their business online without the fear of delay on payments for their goods as these portals provide an instant credit or debit to the bank accounts of the holder in real time. Corporate giants including banks like the American Express and smartphone developers from iPhone to Samsung have launched their own online payment service portals and integrated them with the technological gadgets like laptops to smartphones in order to facilitate easy transactions for their end users. While there may be a small charge for certain transactions, most transaction are offered for free with high end encrypted security to secure the user’s bank details and identity.

Some of the leading online payment service providers include Square, Google Wallet, Amazon Payments, PayPal, V.me by VISA, and 2Checkout. All these providers have their own online portals as well as customized applications for smartphones and other technological gadgets. These providers are not just for transactions on the web, but also provide the feasibility to use their services to make payments at restaurants, movie theaters, malls, supermarkets, grocery shops, airports, metro stations, hospitals, pharmacies, etc, by tying up with local vendors and business to provide connected services to its individual user and enhanced opportunities for small businesses and vendors. The future of these service providers is in the successful integration of biometrics to enable personalized transactions and avoid ID theft.

The number of mutual funds in the country is large, far more than the number of stocks traded on NASDAQ. With a number of mutual fund families sporting great track records, you have many options to choose from. So how do you choose between them?

Buy No-Load Mutual Funds: Mutual funds charge a sales load, which is around 5% of the asset. With capital lost to sales load, your investment on earnings is reduced. So, it’s always best to buy no-load mutual funds, as the sales load can be a significant saving.

Calculate The Expense Ratio: The expense ratio is the percentage of assets that are used to run the mutual fund. These expenses include investment manager fees and administrative expenses. Lower the expense ratio, and increase the returns in your pocket.

Consider Tax Rates: Taxes are an integral part of your earnings. When choosing a fund, you need to consider your return after taxes.
Avoid Funds With High Turnover Ratios. The turnover ratio represents the portfolio that has been bought and sold by the fund. A high turnover ratio can be indicative of bad choice of investments.

Choose Funds Managed By An Experienced Team: Mutual fund investment requires experience and discipline. Investing third party money, you’ll need to strike a balance between caution and expert knowledge on picking the best stocks. Look for funds managed by portfolio managers who have a solid reputation.

Choose A Fund That Matches Your Investment Philosophy: Each investor has different goals. While there are some who fall into the category of value investors, there are many who look for quick growth. There are investors that prefer blue chip companies, while others make their picks based on dividend yields.
It is important to choose a mutual fund that shares your investment philosophy.

Asset Diversification Is Key: Specific industry driven funds aren’t the best idea, especially if you’re a first-time investor. Look for funds that have diversified portfolio. Also, it’s best not to stick to one fund family. Stocks are not the only investment option. Other profitable avenues include real estate funds, fixed income funds, and arbitrage funds.

Verify Against The Appropriate Benchmark: There are many benchmarks, including S&P 500, Dow Jones Industrial Average, and the Nasdaq Composite. Compare what ranking your mutual fund scores against any of these benchmarks.

A disciplined approach is a key to making money. Do not let the short term price events dissuade you. Pick funds that have a solid track record, are managed professionally and deliver performance. You will soon be on the path to building wealth for your future.

An installment loan is just another name for personal loan. There are many high quality lenders as well as small-dollar lenders offering installment loans. It is the prerogative of the borrower to chose the loan best suited to his/her needs and at the same time not get scammed by the unscrupulous techniques used by many lenders.

Installment loans are for everyone and not only for those with bad credit. As a borrower, be aware of:

Sub prime lenders aggressively marketing installment loans as low risk loans. Always gather complete details before borrowing.
So called lower APRs
Piggybacking credit insurance along with the loan
Lucrative’ offers to renew the loan

As a borrower, to stay smart:

• Use the term personal loans while gathering data. The term installment loans has been given a negative connotation by predatory lenders.
• Choose the most friendly interest rate. Most installment loans have fixed rates, if the market changes and the interest falls, you are stuck paying a higher rate.
• Avoid unforgivable conditions. Especially if it is a secure installment loan, be aware on the repayment status, as defaulting the loan might lead you to loose the collateral.
• Lenders might sneak in fees and different forms of credit insurance that increases your repayment amount. To avoid this high rate, review many options and choose the one most comfortable for you.
• Study all options thoroughly before choosing. Banks, credit unions, online lenders, no credit check lenders all offer installment loans. If possible, choose the bank where you already have an account, owing to the existing relationship, they might give you a better rate. The next preferred option is credit unions. If you choose to go with online lenders, know that their APRs might be higher.
• In case you have solid credit and your credit card is offering you a competitive interest rate, it might be smart to charge your expense to your credit card rather than take a installment loan. If your available credit limit does not allow you to do so, apply for a installment loan thereby also availing a easy monthly repayment.
• To keep the overall costs down, choose the shortest term possible for repayment. While spreading the loan over a longer period allows you a smaller monthly repayment amount, know that you’ll be paying more for the loan as you’ll be paying more in interest.
• Legitimate lenders do not tend to contact customers through calls, emails and advertisements. Lenders who do, might not be on the top of the food chain.

An Individual Retirement Account (IRA) is a portfolio of financial products like stocks, bonds, mutual funds, and retirement savings accounts. IRA is an investing tool for retirement that is used to save and earmark funds for various investment purposes to financially secure your future. Contributions can be made to four popular types of IRA’s including traditional, Roth, Simple, and SEP IRAs.

Rollover IRA accounts, on the other hand, allow you to transfer assets from your old individual retirement account. In case you change your job or retire, a rollover IRA makes it possible for you to transfer your retirement funds from an employer-sponsored plan like a 401(k) to any traditional account.

Tax saving on deferred income is one of the main benefits of a rollover retirement plan distribution. The tax is applicable only on withdrawals and not on the amount accumulated.

Three modes of rollover

Direct Rollover
An administrator initiates the rollover option from your old employer-sponsored account to any retirement plan of IRA you nominate. Generally, assets are transferred into a traditional IRA account, and there will be no taxes withheld from the transfer.

Trustee transfer
The trustee-to-trustee rollover IRA transfer is very much similar in operation to that of a direct rollover. The financial institution responsible for your accumulated funds initiates the transfer to any account you nominate to build your future nest egg. There will be no taxes withheld from the amount of transfer.

60-day rollover
For direct payments, you can deposit the lump sum or part of the receipts from your old account into a new retirement plan within 60 days. Taxes will be withheld from the transfer.

The Internal Revenue Service allows a single rollover IRA per year from the same account. Exceptions include rollover IRA from a traditional account to a Roth IRA, trustee transfer to other IRA, IRA to plan rollovers, plan to IRA rollovers, and plan to plan rollover IRAs.

You must evaluate your choices wisely and decide between two favorable options that include traditional and Roth IRAs for a complete rollover. If you plan on managing investments by yourself, hire an online broker to facilitate the same. The alternative is to hire a robo-advisor for account management. Robo advisor is a computer software that uses algorithms and prediction patterns to determine the best investment choices for your portfolio.

Reducing the usage of papers and having electronic transfers done directly to our bank account is known as direct deposit. It is a simple and cost-effective process mostly used for income tax refunds and pay checks.

Setting up your direct deposit access:
Life becomes simple with direct deposit. Go cashless, tension free, and quick with assurance for your transactions. Pay checks, tax refunds, and social security payments can be easily deposited or transferred to your US bank savings account. All you need to do is register yourself for the direct deposit scheme with your bank account details linked to it. Make sure the details you give in are secure so that the entire process can be done online by login to the particular website.

Benefits of direct deposit:
There’s no fear of losing checks anymore as transactions are made easy, thereby reduces financial crimes. It’s easier to track down crimes and check the problems. It is a cost-effective method reduces the usage of paper and ink and the transaction is secure. It also gives immediate access to your funds, reduces the work load of going to the bank and filling papers, and waiting for your transactions to be passed and approved.

How safe are your transactions?
There are always notifications for your transactions from the bank. This assures that all your details are safe and there’s never a risk of losing your personal details. It also makes it easy for the government to directly transfer your deposits safely in account; this reduces the process of sending checks and mailing documents. This is comparatively a safe measure as the funds are immediately transferred and there’s no risk of losing the check, misplacing it, stolen, wrong address, spelling errors, delay of postage, etc. Make sure that you keep your direct deposit account details safe and do not reveal your password and pin numbers to others.

Important tips to remember:
Make sure you have a good internet connection with access to emails. The direct deposit refund dates are announced online and one needs to keep track of them. The direct deposit system is very useful for students to transfer funds to their institutions. Keep your bank details correct and passwords confidential to avoid delay in the process. Link your account with the direct deposit website if you are enrolled with the government schemes in order to avoid any delay or theft. It is an easy process for government employees to get their salary as it reduces the check clearance time and is available spot on.

Business is no child’s play, especially when it comes to the buying and selling of shares. Things can get very tricky if you open an online brokerage account with the wrong firm. Instead of minting money here, your investments will be at risk. So, the sensible thing to do here is to think hard and make a wise choice about opening an online brokerage account with the right firm. In case you are willing to try your hand at earning by selling and buying shares, you can easily open an online brokerage account.

Before you take the final step, here are some things to consider before you open an online brokerage account.

• The first step is to choose the kind of brokerage account you think is suitable for yourself. If you are interested in saving some money for your future concerns, then a traditional brokerage account will be suitable for you. In case you wish to open an online brokerage account for saving money for your retirement, then an IRA will be the sensible choice.
• Once you have decided which account to open, then the 2^nd step will have you compare the cost and incentives that the different online brokerage firms have to offer. The different online brokerage firms offer incentives as a means to expand their business, and you can definitely take advantage of this. So, open an online brokerage account with the firm whose incentives and cost seem reasonable to you.
• An online brokerage account comes with certain added benefits and services which each of the firm’s members is entitled to. Check if the firm offers you services like access to research or allows you to trade on a foreign platform. Ensure that you conduct a thorough research on the offerings of these brokerage firms, and choose the one whose services are in sync with your expectations.
• Once you have chosen the brokerage firm, to open an online brokerage account, you need to fill out an application. Ensure that you give the right details and fund the account by the appropriate means. You can choose the Electronic Funds Transfer (EFT) or use checks to conduct business. After you choose the manner to fund your account, ensure that you check the broker’s minimums and maintain the same in your account.
• Once you have opened an online brokerage account, you need to research you start investing into shares. It’s always advisable to have proper knowledge about the shares you are contemplating investing in.

Online brokerage firms give people an opportunity to earn while sitting at home. However, research, right knowledge, and some quick thinking are instrumental in helping the person make some serious money.