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Here are the best mortgage lenders for first-time homebuyers and the affordable loans they offer, as chosen by Business Insider editors in 2024. If you're a Bank of America Preferred Rewards customer, you can get discountsCheck mark icon A check mark. Offers many unique types of mortgagesCheck mark icon A check mark. Low Cost Mortgages come with only $295 in closing costsCheck mark icon A check mark. Mortgage credit certificatesSome HFAs also offer mortgage credit certificates to first-time homebuyers.

Persons: It's, Chase, Grant, You'll, Carrington, Carrington doesn't, forbearance, HELOC, homebuyers, Truist, doesn't, Flagstar, they're, homeownership, Fannie Mae, Freddie Mac's, you'll, Anthony Park, Molly Grace, Julie Aragon, There's, Lauryn Williams, —, there's, PenFed, USAA, Wells, Wells Fargo, Ally Organizations: Homebuyers Bank of America Mortgage, Mortgage, Chase, Federal Credit Union Mortgage, New, U.S, Bank Mortgage, Federal Savings, Loan, Truist, Flagstar Bank, Business, Bank of America, of America, FHA, Bank, Bank of, Bank of America's, Miami . Bank of America, USDA, Guild Mortgage, Veterans, Navy, Credit, Federal, Navy Federal, Navy Federal Credit Union, Department of Defense, Student Loan, . Bank, US Bank, U.S . Bank, Carrington Mortgage, Carrington Mortgage Services, Consumer Financial Protection, DC, Private Mortgage Insurance, PMI, Down Payments, Quicken, Rocket Mortgage, Rocket, CrossCountry Mortgage, CrossCountry, Loans, Flagstar Bank Mortgage, Federal Housing Finance Agency, Federal Housing Administration, US Department of Housing, Urban, US Department of Veterans Affairs, US Department of Agriculture, Best, Chevron, CFP, Pentagon Federal Credit Union, BBB, Fairway Independent Mortgage Corporation, Veterans United, Movement Mortgage, NBKC, PNC Bank, Better Business Bureau Locations: VA, HELOC, Washington, DC, Charlotte, Dallas, Detroit, Los Angeles, Miami, Delaware, Vermont, Delaware , Vermont, Wyoming, J.D, New York, ., U.S, Massachusetts, North Dakota, Ohio, Florida, California , Colorado , Connecticut, Georgia , Illinois , Indiana , Kentucky, Maryland , Massachusetts , Missouri , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oregon , Pennsylvania, South Carolina , Tennessee, Virginia, Tennessee, Arizona , Alaska, Hawaii, Arizona , California, Florida , Indiana , Michigan , New Jersey , New York , Ohio, Wisconsin, Flagstar, Arizona , California , Connecticut , Idaho , Michigan, Nevada , Ohio, New Mexico, Chevron, Wells Fargo

☆ A boomer moved from Texas to Panama for her retirement. She loved it so much she 'accidentally' started a tour company helping expats move.
▼ + stars: | 2024-07-12 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Jackie Lange, 69, moved to Panama from Texas in 2010, thinking she would retire to the mountains. Instead, over a decade later, she's led 250 tours helping hundreds of expats move to Panama. Shortly after making the move, she started Panama Relocation Tours, which takes interested expats across the country, from the beach towns to Panama City. She also crafted an online relocation guide with information on health insurance companies, private hospitals, CPAs, shipping and moving companies, and real estate agents. She pays $2,788 a year for health insurance, which covers 100% of hospital and emergency room visits worldwide.

Persons: Jackie Lange, she's, She's, Lange, Panama Lange, it's, expats, they've, — Organizations: Service, Panama Relocation, Business, Panama City, Hyundai, Homes Locations: Panama from Texas, Panama, Panama City, Dallas, East Texas, Boquete, Costa Rica, Texas, Caribbean, Hyundai Santa Fe, Coronado

☆ How I went from MBA to CEO in just seven years
▼ + stars: | 2024-07-01 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +8 min

Now, seven years after graduating from business school, I'm the CEO of accounting platform Ascend Together, which is growing by the day. It took lots of long hours and self-reflection, plus the help of private-equity firm Alpine Investors' CEO-in-training program. Here's my story of how I went from MBA to CEO. Alpine CITs Alpine InvestorsI have to give them credit for their imagination, because they placed me in the role anyways. Alpine's CEO and founder Graham Weaver Alpine InvestorsI attribute this so much to Graham Weaver, Alpine's founder and CEO.

Persons: —, David Wurtzbacher, you'll, CITs, We're, That's, Graham Weaver, Graham Organizations: Service, Business, Alpine Investors, JPMorgan Chase, JPMorgan, Harvard, Alpine's CIT, Lightwave, Carolinas, CIT, Alpine, Technology, CPA Locations: Harvard, Alpine, San Francisco, Virginia, Lightwave

☆ This hyper-exclusive CEO training program doesn't care about your 4.0 GPA
▼ + stars: | 2024-06-24 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

The promise of a more rapid climb up the corporate ladder has made Alpine's CIT program incredibly popular. While it's too soon to know how Alpine's CIT program ranked this year, it received 750 applications for just 12 slots. AdvertisementAnderman's own non-conventional career took her from college dropout to ballet dancer to the world of international development to business school. When she interviewed for her job at Alpine, Weaver asked how she could handle the job with no prior experience. — Alpine's founder and CEO — Alpine's founder and CEOThe first attribute the company looks for is IQ, but not in the traditional kind.

Persons: —, it's, Tal Lee Anderman, you've, Tal Lee Anderson, Graham Weaver, GSB, Weaver, whittle, Anderman, David Wurtzbacher, Wurtzbacher, they're, Geoff Smart Organizations: Service, Business, CIT, Harvard Business School, Stanford's, School of Business, Wharton School, University of Pennsylvania, Harvard, Tal Lee Anderson Alpine, Stanford, Wharton, Kellogg School of Management, Northwestern, University of Chicago Booth School of Business, Alpine, Alpine's San, Citadel, Yale Law School, America Locations: Alpine's, Alpine's San Francisco, Blackstone, Anderman, Manhattan, Jackson , Mississippi, Hong Kong

Estate planning may not be a topic you want to think about, but it's essential for small-business owners. Estate planning is a very sensitive, emotional topic, but as a financial planner, I believe it's essential to discuss. Estate planning should be a top priority — especially for Black business owners seeking to build generational wealth and preserve their legacies. Digital estate planning documentA common blind spot in estate planning is the digital asset space. Digital estate planning will make it easier for your heirs to access your digital assets as needed.

Persons: —, doesn't Organizations: Service

You get tax forms such as W-2s and 1099s from employers and financial institutions each year. "It's the [IRS] matching software that's the biggest, most consistent problem for taxpayers," said Bill Smith, national director of tax technical services at financial services firm CBIZ MHM. Since the IRS already has a copy of your tax forms, its software can easily flag missing forms, Smith explained. When to expect tax formsWhile many tax forms must be sent by Jan. 31, others won't arrive until mid-February or beyond. While most taxpayers will receive forms from their employers or financial institutions, some may not, especially for small amounts.

Persons: Bill Smith, CBIZ, Smith, Henry Grzes, Tom O'Saben, Jan, " Smith, O'Saben Organizations: IRS, American Institute of CPAs, National Association of Tax, NEC, SA

The tax return my CPA prepared instead reported a $16,000 gain, and it took months to fix the error. I get started with tax season in January now — even with a CPA, things can go awry. They had helped me resolve an issue with a previous tax return. Content to have identified the problem, I reported my findings, expecting my CPA would simply amend the return. If I had known how day trading could complicate my return, I might have changed my approach.

Persons: —, aren't Organizations: CPA, Service, GameStop

☆ Investors may miss out on this key tax loophole if they actively trade a spot bitcoin ETF
▼ + stars: | 2024-01-18 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

But there's a catch with conventional assets: the wash sale rule . Now, tax professionals are flagging a potential wrinkle that may arise: Even though bitcoin itself isn't subject to the wash sale rule, a spot bitcoin ETF very well may be. Property versus security Under federal tax law, the IRS deems cryptocurrency to be property . Managing limitations At its core, that means investors should avoid swapping in and out of the same spot bitcoin ETF within the 61-day limit if they had sold the position. This also raises the question of whether dumping one spot bitcoin ETF for another would be deemed substantially identical.

Persons: Stephen Turanchik, Paul Hastings, Andrew Gordon, Dan Herron, Richard LaFalce, Morgan Lewis, Turanchik Organizations: Internal, Digital, Tax, Force, American Institute of CPAs, IRS, Gordon Law Group, Elemental Wealth, Investors Locations: San Luis Obispo , California

☆ A bitcoin ETF seems to be just around the corner. How will financial advisors react?
▼ + stars: | 2023-11-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Edelman also founded Edelman Financial, a large firm of registered investment advisors. The potential of a bitcoin ETF has appeared to help fuel a recent rally in the cryptocurrency. Concerns from advisors Crypto's dramatic rise has largely come without the embrace of the traditional financial system, such as financial advisors and major banks. But not all financial advisors seem ready to embrace crypto just because investing in it is simpler. Client demand Even if advisors are skeptical of crypto, the arrival of bitcoin ETFs is sure to generate more questions from clients.

Persons: BlackRock, Ric Edelman, Edelman, Bitcoin, bitcoin, Sam Bankman, Randy Frederick, Frederick, Andrew Morgan, Taylor, Morgan, that's, Amy Hescht, They're Organizations: Nasdaq, Digital Assets Council, Financial Professionals, Edelman, The Securities, Exchange Commission, SEC, Blackrock, Schwab Center, Financial Research, Fidelity, Presper Financial, Advisors, fund's Locations: United States, U.S, Bitcoin, BlackRock, Michigan, Akron , Ohio

The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic. Innovation Refunds — a consulting firm that focuses on the ERC — was one of the most visible advertisers during the tax credit's heyday. How Innovation Refunds worksOn its website, Innovation Refunds makes it clear it is not a tax professional. Innovation Refunds markets to clients, determines if they are viable candidates for the credit and then collects businesses' documentation. Some former employees said this could insulate Innovation Refunds from potential liability if ineligible businesses claimed the credit.

Persons: Danny Werfel, Andrew Kelly, Howard Makler, Ty Burrell, Burrell, Rob Domenico, Werfel, Tom Williams, Makler, Kate Rogers, Domenico, Slack, Jenn McCabe, Armanino Organizations: Companies, ERC, Internal Revenue Service, IRS, ERC —, CNBC, Reuters, CPA, Senate, Washington , D.C, CQ, Inc, Getty, LinkedIn, Justice Locations: New York, Washington ,, Des Moines

Start your search for a tax preparer or tax advisor before the peak of tax season. How to find the best tax preparer or advisor near youLike finding the right doctor or therapist, it can take time to find the best tax preparer or tax advisor for your situation. A tax attorney has demonstrated expertise in areas of federal and/or state tax preparation and complex tax planning. How to choose a tax preparer frequently asked questionsWho is the best person to get tax advice from? A tax preparer must obtain a preparer tax identification number (PTIN) from the IRS in order to prepare a tax return in exchange for compensation.

Persons: —, it's, Kristine Stevenson Seale, Seale, It's Organizations: Service, IRS, Society of Accountants, Better, BBB, Chevron Locations: Austin , Texas, Chevron

☆ Trump, fraud, and minding the GAAP: A guide to the accounting rules at the heart of his NY trial, courtesy of 2 standup comics who happen to be CPAs
▼ + stars: | 2023-10-09 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

Trump's $250M fraud trial hinges on whether he followed generally accepted accounting principles. AdvertisementAdvertisementTrying to follow the Trump Organization civil fraud trial but don't understand all the quacking about "GAAP, GAAP, GAAP" — those wonky, "generally accepted accounting principles" at the heart of the trial? Donald Trump leaves his civil fraud trial in New York on its third day of testimony. "I know Trump would like to see them 'wiggle, wiggle, wiggle' for sure," she added. AdvertisementAdvertisementTrump's civil fraud trial begins its second week on Tuesday.

Persons: —, Donald Trump, Donald Trump , Jr, Trump, Letitia James, Donald Trump's, Tammara Buckey, Buckey, Buckley, Missy Hydrick, Steve Gianturco, He's, Stevie GB, Brendan McDermid, Gianturco, Seth Wenig, FASB, Fabio, James, Jason Derulo Organizations: Service, Trump Organization, New York, Trump, NY, CPA, Federal, Accounting Locations: Huntsville , Alabama, Long Island , New York, New York, York, Manhattan's

☆ 'Buyer beware.' Anyone can call themselves a tax preparer. Here’s how to find a qualified professional
▼ + stars: | 2023-10-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

There's a staffing shortage in the accounting industry, and it's not too early to lock in a tax preparer for next season. "Buyer beware," said April Walker, lead manager for tax practice and ethics with the American Institute of CPAs. "Truly, anybody can call themselves a tax preparer." In her 2022 annual report to Congress, National Taxpayer Advocate Erin Collins highlighted the "absence of minimum competency standards for return preparers" as a top problem. When a preparer makes a mistake, the filer is ultimately responsible for their return and can face IRS enforcement action, she wrote.

Persons: it's, Walker, Roth, there's, Erin Collins Organizations: American Institute of CPAs, Finance, IRS, National

☆ IRS to target 'unscrupulous' tax preparers amid crackdown of small business tax credit
▼ + stars: | 2023-09-24 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Chip Somodevilla | Getty ImagesIRS scrutiny of the employee retention creditThe plan is part of the agency's elevated focus on employee retention credit claims, according to April Walker, lead manager for tax practice and ethics with the American Institute of CPAs. A pandemic-era tax break, the employee retention credit, or ERC, was designed to support small businesses that kept employees on payroll during shutdowns or revenue declines in 2020 and 2021. He included the earned income tax credit, a tax break claimed by low- to moderate-income filers, which has been prone to mistakes due to complex eligibility requirements. While IRS audit rates have dropped overall, the rates have declined more slowly for filers claiming the earned income tax credit than higher earners. "The IRS audits a higher percentage of taxpayers with the earned income tax credit than any other taxpayers, except those with at least $5 million of total positive income," National Taxpayer Advocate Erin Collins wrote in her 2022 report.

Persons: Daniel Werfel, Chip Somodevilla, April Walker, Werfel, Chuck Marr, Erin Collins Organizations: Senate, Getty, American Institute of CPAs, ERC, IRS, Budget, National Taxpayer, filers Locations: Worth

☆ Lawmakers weigh tax rule 'backslide' for Venmo, PayPal users, says analyst. What it means for you
▼ + stars: | 2023-08-20 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

There's bipartisan support for the changeThe lower Form 1099-K thresholds were originally slated for 2022. watch nowThe Republican-led House Ways and Means Committee in June approved legislation to revert the reporting thresholds back to 2022 levels. Form 1099-K has 'always been problematic'Meanwhile, there are lingering worries among tax professionals about the 1099-K change. For businesses selling goods, she said Form 1099-K may not accurately reflect returns or adjustments. How to prepare for the 1099-K reporting change

Persons: Sherrod Brown, Bill Cassidy, Rosenthal, AICPA, Phyllis Jo Kubey, Kubey Organizations: PayPal, IRS, Republican, Sens, American Institute of CPAs, New York State Society of Locations: Ohio, New York

☆ 12 of the highest-paying jobs in finance
▼ + stars: | 2023-06-29 | by ( ) www.businessinsider.com time to read: +13 min

Getty Images/Peter DazeleyThe finance industry has many high-paying jobs such as chief financial officer, and investment banker. The finance industry is brimming with high-paying, excellent jobs, whether you want to become an accountant, financial analyst or something else entirely. Financial risk managerFinancial risk managers have very important jobs: they help companies and investors understand different levels of financial risk. As high-earning financial professionals, their financial modeling and financial reports are invaluable to the finance sector at large. Most finance professionals in this position have years of experience.

Persons: Peter Dazeley, CPAs Organizations: Getty, Morning, U.S . Bureau of Labor Statistics . Investment, Investment, Financial

☆ Firms are 'bombarding' small businesses with ads for a Covid-era tax credit, advisor says. Here's how to know if you qualify
▼ + stars: | 2023-06-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Small businesses are facing an onslaught of ads, phone calls and emails to help them claim a pandemic-era tax credit. The tax break — known as the employee retention credit, or ERC — was enacted in 2020 to support small businesses during the Covid-19 pandemic, worth up to $5,000 per employee for 2020 or $28,000 per employee in 2021. While the credit applies to tax year 2020 or 2021, business owners still have time to amend returns and claim the credit, which has sparked a flood of ads from companies offering to help. While Hausz's company has completed at least 100 amended filings for clients to claim the employee retention credit, it has also informed clients when they don't qualify. "ERC mills" have popped up, charging small businesses up to 25% to 30% of the credit received, said Kristin Esposito, director for tax policy and advocacy for the American Institute of CPAs.

Persons: Craig Hausz, Kristin Esposito Organizations: ERC —, Finance, CMH Advisors, ERC, American Institute of CPAs Locations: Dallas

☆ The IRS is cracking down on a popular small business tax break that could lead to a costly audit
▼ + stars: | 2023-06-09 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +6 min

A cottage industry of specialist firms has sprung up to help business owners claim the Employee Retention Credit (ERC), a governmental tax incentive intended for companies stressed by the pandemic. To be sure, the IRS warned business owners last October to be on the lookout for third parties promoting improper ERC claims. The IRS went so far as to add fraudulent claims involving the ERC to its annual "Dirty Dozen" list of tax scams. Start by understanding the basic ERC claim requirementsStart by knowing the basics so you can understand whether your business may qualify for a credit. Another red flag is when a third party doesn't ask for documentation to ensure a business owner qualifies, Perrone said.

Persons: Donald N, Hoffman, Danny Werfel, Gina Perrone, Sax, Jenn McCabe, Perrone Organizations: ERC —, Eisner Advisory, IRS, ERC, CPA, Small Business Administration, Armanino

☆ Why Graduates Aren’t Hot on Accounting Careers: Low Starting Pay, Onerous Testing
▼ + stars: | 2023-05-12 | by ( Anna Mutoh | ) www.wsj.com time to read: +1 min

Accounting majors in the class of 2023, the first to enter a postpandemic professional world, will find no shortage of demand for their services as the industry grapples with a scarcity of candidates. Photo: Thomas Wells/The Northeast Mississippi Daily/Associated PressGraduates entering the workforce this year who are considering careers in accounting should see plenty of demand for their services as the industry grapples with a dearth of candidates. But even so, they may find what companies are willing to pay them underwhelming, particularly given the rigorous academic and testing requirements required to follow this career path. Recruiters say experienced accountants are often moving into new roles in finance and technology. And the exodus is expected to worsen as baby boomers leave the workforce, with 75% of certified public accountants retiring or close to retiring in the next 15 years, according to the American Institute of CPAs.

☆ How to Pick a Financial Advisor
▼ + stars: | 2023-03-17 | by ( ) www.wsj.com time to read: +12 min

Read on to get started:Types of financial advisorsMany financial professionals, including financial planners, securities brokers, investment managers, and insurance brokers call themselves financial advisors so it’s important to know exactly what services an advisor provides before hiring one. Financial advisor designationsThere are myriad designations for financial advisors but only a handful that indicate the expertise most consumers need. CPAs, or Certified Public Accountants, can be certified with a Personal Financial Specialist credential, which combines their tax expertise with personal financial planning knowledge. How to find a financial advisorFinding a financial advisor is not so different from finding any other specialized service you’re in the market for. The right financial advisor can help navigate your financial life, from budgeting everyday spending to fulfilling long-term financial goals over a lifetime including the purchase of a home and a comfortable retirement.

☆ How to Read Your Pay Stub
▼ + stars: | 2023-03-09 | by ( ) www.wsj.com time to read: +14 min

So residents of these states may have to work a little harder to track their earnings if their employer elects to forgo sharing pay stub documents. Only residents of California, Hawaii, New York, Rhode Island, New Jersey, and Puerto Rico will see this on their pay stub, according to Greene-Lewis. 10. pretax DeductionsDepending what workplace benefits are offered by your company and which ones you’ve elected to participate in, you may see pretax or before-tax deductions listed on your pay stub in addition to the various taxes you must pay. There is also another kind of common FSA you might be contributing to that could appear on your pay stub: the dependent-care FSA. Any after-tax withholding your employer makes should be noted on the pay stub.

☆ Accountants Have to Go to College for Five Years. Some Are Rethinking That.
▼ + stars: | 2023-03-07 | by ( Lindsay Ellis | ) www.wsj.com time to read: 1 min

PricewaterhouseCoopers and Saint Peter’s University are testing a pilot program that substitutes a year of work for the traditional fifth year of college coursework. Accounting, a profession focused on numbers, is vexed by this one: the 150 college credit hours required to become a certified public accountant. The shortage of accountants in the U.S. has firms boosting salaries and sending work abroad. The cost of accounting work has been rising and some firms are turning away audit work because they can’t find enough CPAs. Efforts to recruit more students into the field have become a near-constant conversation now nationwide among CPAs and industry groups.

☆ Accountants Have to Go to College for Five Years. Minnesota Is Rethinking That.
▼ + stars: | 2023-03-06 | by ( Lindsay Ellis | ) www.wsj.com time to read: 1 min

☆ How to Read a Form 1098-E
▼ + stars: | 2023-03-02 | by ( ) www.wsj.com time to read: +10 min

By Kerri Anne RenzulliIf you have student loans, chances are you’ll encounter the IRS’s Form 1098-E. Those with multiple loans across multiple lenders will be sent a separate 1098-E form by each lending institution. But for those who do, this mark indicates that you took out your student loan before Sept. 1, 2004. Instead of relying on the Form 1098-E, you’ll need to request or download records of what you paid in interest and your payment history from your loan servicer, says Greene-Lewis. Who can claim the student loan interest deduction The $2,500 deduction phases out as your modified adjusted gross income rises.

How much you pay (or don't) in taxes has the potential to shift what's possible in your overall plan. When it comes to your taxes, making mistakes can mean losing money. Thankfully for my financial planning clients, I catch some common missteps before they are made — that's one of the benefits of working with a certified financial planner. Using tax software can be a great solution that saves money when your financial situation is very simple and straightforward. Using a CPA can help you avoid mistakes that would cost far more than the fee you pay to retain them.

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