It’s expensive to live in the City of Angels. Rent in Los Angeles often represents a hefty chunk of an individual’s total income. By the time they declare bankruptcy, it is not unusual for many people to be behind in their rent, sometimes on the verge of eviction. Of course, having a home is vitally […]
As California expands the mantel of legitimacy on licensed California marijuana businesses, you would think that licensed cannabis businesses would enjoy the same rights as other California businesses under federal law, but that’s not case. Let’s briefly look at the background of California’s marijuana businesses and restrictions that prohibit them from declaring bankruptcy. California Law […]
We are all aware that huge tax changes known collectively as the Tax Cuts and Jobs Act (TCJA) were passed in 2017 and went into effect January 1, 2018. A significant addition was a 20% pass-through income deduction (26 U.S. Code § 199A) to many small businesses with “qualified business income.” The intent was to […]
We all know we should check our credit scores at least once a year just like we should go to the dentist regularly. But for some of us, even the thought of checking our credit scores and reading our credit reports brings on a stomachache. Ignoring your credit score can have a vast and lasting […]
We are a country that is drowning in credit card debt. Credit card balances in the United States totaled $420.22 billion in late 2018. The average American household with credit card debt has approximately $6,9291 in revolving balances, which are balances carried from one month to the next. It can seem impossible to get out from under […]
During the 2018 holiday season, consumers expect to spend more than $1,000 on gifts, holiday food and decorations, and non-gift purchases (e.g., Black Friday deals), according to the National Retail Federation. With so much spending expected during the coming months, now would be an excellent opportunity for teaching your children good financial habits. To help […]
In late September, the New York Times ran a story about how major banks in the U.S. are beginning to offer “an alternative to payday loans.” The Times focuses on a new offering from U.S. Bank, which the bank has branded “Simple Loans.” As with payday loans generally, U.S. Bank’s Simple Loans are designed to […]
Vacations are supposed to be a time to relax, to escape the worries of everyday life and just enjoy yourself. Unfortunately, vacations also cost money—so much so that three out of every four Americans have taken on an average of $1,100 in debt to pay for a vacation, according to a survey conducted by LearnVest […]
According to research published earlier this year by Northwestern Mutual, we Americans are not very good at saving for retirement. In fact, the research found the following startling facts about Americans’ retirement savings: One in five Americans have no retirement savings; One in three Baby Boomers have less than $25,000 saved; and 78% of us […]
Identity theft is an increasingly common problem in the United States. Between 2011 and 2016, U.S. consumers lost more than $100 billion to identity fraud, according to the financial advisory firm Javelin Strategy & Research. A significant portion of this fraud involves criminals opening new credit accounts in the names of their victims and then […]
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