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401(k) withdrawal for a home purchase: Is it a good idea? 401(k) withdrawal rules for buying a homeFirst, you'll need to check with your plan administrator to see if early withdrawals are allowed, and under what circumstances. Tax implications of a 401(k) withdrawal for a home purchaseLet's take a closer look at the penalties and taxes you might incur from a 401(k) home purchase withdrawal. 401(k) loan for buying a houseInstead of withdrawing money from your 401(k), you also have the option to take out a loan. 401(k) withdrawal for a home purchase FAQsIs buying a home considered a hardship for 401(k)?

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☆ My son's alternative school doesn't have grades, tests, or homework. Kids decide what they're interested in learning.
▼ + stars: | 2024-02-05 | by ( Ashley Abramson | ) www.businessinsider.com time to read: +5 min

When my youngest son, Jasper, was getting ready for kindergarten, I was struggling with where to send him to school. The principles of giving kids the freedom to learn about what they're interested in, without the added stress of grades and tests, really resonated with me. Kids learn by playing and doing what they're interested in. Younger kids can learn from older students, and older students have the opportunity to help and mentor younger ones. But more than that, Arts and Ideas gave Jasper a happy childhood and helped him grow into a secure adult.

Persons: Adrienne Bergthold, Jasper, I'd, Jasper I, they've, he's Organizations: Arts, Ideas Sudbury School, Sudbury School, school's, Corp, Ideas Locations: Baltimore

☆ A family went viral 3 years ago for building a tiny-house village. Their college-age kids live on the property in their own tiny houses.
▼ + stars: | 2023-05-20 | by ( Ashley Abramson | ) www.businessinsider.com time to read: +5 min

The Brinks went viral three years ago for building a tiny-house village. Ryan Brinks' kids are in college now, but they still live in their own tiny houses on the property. Regardless of public perception, the Brinks family remained confident in their decision — and their kids never got into any trouble. The pair plans to live at Lennox's original tiny house as their new one is built. They've added to the tiny-house village in the past 3 yearsSince 2020, Ryan and Keli have transformed the tiny-house village.

"Once the client needs have been qualified, accountants can help business owners with the next phase of winning a loan," says accountant Bryan Kesler. "These strategies help clients make sure that a greater percentage of their assets go toward organizations that provide social good." Guide business succession planningOn top of consulting everyday financial decisions, your accountant can also help you shape the future of your business, Martin says. Will Lopez, head of accountant community at Gusto, says accountants are perfectly positioned to help clients figure out how to grow their business with smart hiring. "By providing business owners with people-focused financial metrics each month, such as operating profit per employee and average expense per employee, accountants can help small business owners manage their greatest asset — their workforce," he says.

Wondering what the difference is between banks and credit unions? For example, many credit unions offer high-yield savings account rates at or near 2%, while most banks' savings rates hover well below that. Not all credit unions are federally insuredIn addition, not all credit unions are insured like banks. Federal credit unions are insured by the National Credit Union Administration, but some smaller credit unions are privately insured, which means they might not be backed by the US government and may not cover member deposits like federally-insured credit unions do. Can be difficult to joinIf you're interested in becoming a member of a credit union, keep in mind that credit unions can take a little more effort to join.

Freelancers and small business owners are smart to look ahead and get their accounting in shape well before Tax Day 2020. To make filing taxes easier, accountants recommend building smart bookkeeping practices into your everyday processes, and putting aside money for taxes sooner rather than later. If you're new to the freelancing world or you're just looking for some expert tips on improving your financial well-being come tax season, we asked accountants for the best tax advice they can give freelancers to make life a little easier. "A simple spreadsheet detailing your monthly income and expenses is perfect for freelancers," says CPA Alexis Krystina of Advance Accounting. Set aside self-employment taxes in a separate accountBrendan Willman, a CPA with Granada Tax, says self-employment taxes are the biggest surprise for new freelancers.

My husband and I have made some mistakes with money in the past, including racking up $30,000 of credit card debt. No matter how hard we tried, it seemed like we couldn't make a dent in the credit card balance. He encouraged us to open up two more credit card accounts. The CFP wisely suggested we check our current credit cards to see which had the highest interest, and move accordingly. In an ideal world, we would have paid off the credit cards sooner so we wouldn't throw money away on interest.

Our experts choose the best products and services to help make smart decisions with your money (here's how). My husband is a saver and I'm a spender, but in almost a decade of marriage, we've come up with five strategies that help us balance those impulses. We keep a budget and designate a certain amount of spending money for each month, and we review our bank statements and credit card bills together monthly. It takes effort, communication, and help from the best financial advisor, but we've figured out a way to make it work. I'll update him on freelance projects I'm working on and how much money I'm expecting to come in, and he'll highlight (sometimes to my chagrin) ways we've overspent in the last month.

Persons: spender, we've, —, I'm, We've, it's, I'd, It's Organizations: Service

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