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The cost of waiting to buy a home

“The decision to rent or buy requires financial and emotional choices and depends on your job security, lifestyle and commitment to a neighborhood or location” reports washingtonpost.com. A preapproval for a loan is an essential first step for potential buyers to understand their price range and the complete cost of owning a home. When you buy a home, your monthly expenses often increase (as do the potential number of cash-intensive emergencies), so you may want to consider increasing your emergency reserves accordingly.” Evaluating your long-term financial plan is essential to…

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Even financial aid won’t help you cover these college costs

“If you think you’ve snagged just what you need to cover your college costs this fall, think again” writes unknown author for cnbc.com. Here are some examples of what schools are getting wrong about costs.Room, board, transportation expenses and other miscellaneous costs add to the actual cost of attendance and can vary sharply from your school’s best estimates.That’s because while universities give families an idea of how much it costs to attend school, those estimates can be inaccurate — particularly for students who opt to live off campus. Source: cnbc.com Share…

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You can’t deduct hobby-related expenses under the new tax law—but don’t give up hope

“You may think you can deduct that loss on your personal federal income tax return” writes Bill Bischoff for marketwatch.com. That means the loss can be used to offset income from other sources and reduce your federal income tax bill accordingly.The IRS likes to claim that money-losing sidelines are hobbies rather than businesses—because the federal income tax rules for hobbies are not in your favor.Under prior law (before the TCJA), you could potentially deduct hobby-related expenses up to the amount of income from the hobby.So under the new law, you…

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Now This Candidate Can Officially Use Campaign Funds to Pay for Childcare

“Liuba Grechen Shirley made history in April when she became the first woman to file a petition with the FEC in order to use a portion of her campaign funds on childcare” writes Madison Feller for elle.com. As a mother with two kids under five, running a campaign while looking after her children full-time wasn’t an option, but an FEC rule says candidates cannot use campaign funds for personal expenses, meaning she wasn’t able to use donations to pay for a sitter.But on Thursday, the FEC gave Grechen Shirley its…

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Hugo Boss profit up on lower expenses

“The company expects operating profit will be between 2% lower and 2% higher than in 2017” writes Anthony Shevlin for marketwatch.com. Hugo Boss AG (BOSS.XE) said Wednesday that net profit in the first quarter rose due to a decline in operating expenses.Net profit for the period ending March 31 was 50 million euros ($60.1 million) compared with EUR48 million a year previous. Source: marketwatch.com Share This:

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UPS to offer voluntary retirement plans to reduce headcount, cut expenses

“UPS, +0.31% said Wednesday it is offering voluntary retirement plans (VRPs) to a select group of non-operations, eligible U.S. management employees, as part of its organizational transformation initiative” writes Reporter Editor for marketwatch.com. “The financial details of the voluntary program will be disclosed at a future date.”. Under the VRP, the package delivery service said a financial buyout will be offered to retire. Source: marketwatch.com Share This:

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PPG shares slide 1.7% after disclosure of accounting issue

“PPG, -1.52% slid 1.7% in early trade, after the company disclosed an accounting issue that it is now probing” writes Ciara Linnane for marketwatch.com. PPG said as it was finalizing its first-quarter earnings, it received a report from its internal system regarding possible violations of its accounting policies.However, its audit committee is investigating the report, which suggests up to $5 million in expenses were not properly accrued. Source: marketwatch.com Share This:

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New accounting rule raises revenue for big banks, but not all are highlighting the change

“In first-quarter earnings, Citi said its equity underwriting revenues fell 14% to $216 million, while debt underwriting revenues fell 8% to $699 million” writes Francine Mckenna for marketwatch.com. The bank said it expects the 2018 full-year impact on revenue to be positive by about $1.2 billion.However, it is not clear how much of this decline is related to adoption of the new standard, since the underwriting expenses were not detailed in the press release.JPM said that it expected the new standard to increase revenue and expense for full-year 2018 by…

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Uber is offering a new debit card with perks geared toward drivers

“The new Uber Visa Debit Card from GoBank is geared toward drivers (including Uber Eats and other delivery service drivers) and offers cash back rewards for gas fill-ups and car maintenance as well as other expenses associated with ride-hailing apps” writes Sasha Lekach for mashable.com. The card offers 3 percent cash back at Exxon and Mobil gas stations, and 1.5 percent at other gas stations. Source: mashable.com Share This:

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