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A county in Michigan was owed about $2,200 in back taxes. To collect it, the government took a home worth close to $200,000, auctioned it for a fraction of that, and called the matter settled. The family is now putting a simple question to the Supreme Court: when the state sells your house over a small debt, does it owe you the real worth of what it took or only whatever the auction happened to fetch? The Rule that is Already on the Books Three years ago, the court drew a clear line. Geraldine Tyler, then in her 90s, had let a $2,311 levy onRead More →

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This accounting and tax method refers to a treatment used by the Internal Revenue Service (IRS) to obtain tax remittances on sales of depreciated property. Understanding how it works is essential for filers to make the most of it. Required Conditions As property depreciates, its value declines. When depreciated assets are sold, it’s able to be filed as ordinary income as long as the transaction’s price is above the property’s adjusted cost basis. The gap between the sales price and its adjusted cost basis must be filed as a component of the individual’s ordinary income. Defining Adjusted Cost Basis Adjusted Cost Basis = Asset’s PurchaseRead More →

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Retirement planning starts with retirement spending. Ideally, retirees are mortgage-free and relatively debt-free before they leave the working life behind. In retirement, a key strategy is to maintain low monthly staple expenses. Therefore, if you want to devise a financial plan that will allow you to retire early, consider cutting back your basic household expenses a year or more before your target retirement date. Some retirees choose to downsize their home, which also tends to reduce property taxes, homeowner’s insurance and maintenance costs. Also, use that time to shop for cable, internet, or cell phone plans that may be cheaper and suit your needs inRead More →

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The cost of streaming subscriptions is on the rise, and you have to ask: Are they really worth it? Especially when it’s summer, and you’re taking advantage of the beautiful weather. Here are some ways to entertain yourself, friends and the fam that are either no- or low-cost – and might be better than binging on yet another series. Have ‘Zero Dollar’ days. Set aside one or two days a week where you don’t spend a cent. Make your lunch the day before. Cook dinner at home, and then end the day with a walk at a nearby park. Plant a garden. All you needRead More →

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The recent discovery of a publicly available Elasticsearch cluster, a group of interconnected search servers, containing 24 billion exposed records, is among the largest-scale data breaches, highlighting the troubling reality that passwords have become a weak link in modern digital security. For years, one of the responses to cyberthreats has been to create stronger passwords, implement password rotation policies, and deploy password managers. Despite all these efforts, credential-related attacks continue to dominate the threat landscape. The latest threat is a reminder that the problem is not simply password hygiene – but the password itself. The Weaknesses of Password-Based Security Passwords were designed for a simplerRead More →

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Secure America Act (S 2) – The Secure America Act is a federal budget reconciliation bill that funds homeland security. It was introduced by Sen. Lindsay Graham (R-SC) on May 20. The bill allocates $22.6 billion to Customs and Border Protection; $3.5 billion for border security technology improvements; $38.5 billion to Immigration and Customs Enforcement (ICE); and $5 billion to the Department of Homeland Security. The act was passed in the Senate on June 5, in the House on June 9, and was signed into law by the president on June 10. Investing in All of America Act of 2025 (HR 2066) – Introduced onRead More →

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Picture two heating-and-cooling companies at opposite ends of the same town. Same revenue, same trucks, same crew. The first one runs on its owner, a guy who spent 20 years building a name, and people call the office because they want him on the roof. The second runs on a brand, a dispatch system, and a phone number folks have had memorized since the ’90s. On paper, the two look like twins. But put them up for sale, and they fetch very different prices – and the reason is goodwill, the chunk of value that has nothing to do with the trucks and everything toRead More →

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Horizontal Analysis provides businesses a method to examine financial statement entries by looking at the documents’ number for a specific accounting time frame compared to the same length of a historical period for the same accounting line item. Breaking the Process Down It’s a way to measure trends and variances by looking at the current year’s values versus the reference year. This helps an analyst figure out if the values increase or decrease. It’s either done on an absolute value or a percentage change basis. The analysis provides a company’s growth and financial position against competitors. This method is different compared to vertical analysis becauseRead More →

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Financial windfalls are not uncommon. Every year, entrepreneurs who build their businesses from scratch sell them for millions in profit. In 2024 alone, state lotteries paid out a combined $70.2 billion to prize winners. Additionally, over the next 20 years, around $84.4 trillion in wealth transfers are expected to take place, with $72.6 trillion of this going to heirs and the other $11.9 trillion going to charities. After scrimping and saving for years, a large windfall of money can seem like a dream come true. However, there are many factors to consider when receiving a substantial sum of money all at once. The key to makingRead More →

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Summer’s here, school’s out and vacations are ahead. That’s why now might be the perfect opportunity to carve out some time to make some positive changes in your financial life. Here’s a few ideas to get you started that are are significant, not too big or too small, and well within your reach. Set Up a Safety Net Rising costs and an uncertain geopolitical landscape make this more important than ever. If you already have sturdy savings, great. Having a three-to-six-month surplus is super smart. You never know when your fridge might go out, or you might have unexpected medical expenses. That said, consider increasingRead More →

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