MAKE MONEY ONLINE POSTS: 2020

الاثنين، 9 نوفمبر 2020

Can the President Control Gas Prices?

Gas prices are notoriously volatile. Is there anyone who has any control over how much you'll pay at the pump? Well ... kind of.

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Can the President Control Gas Prices?

Gas prices are notoriously volatile. Is there anyone who has any control over how much you'll pay at the pump? Well ... kind of.

Source Business & Money | HowStuffWorks https://ift.tt/3pggZig

الخميس، 5 نوفمبر 2020

Do Diversity Training Programs Work?

Companies often have their employees undergo anti-bias or diversity training to improve internal relations and hiring practices. But do these programs work?

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Do Diversity Training Programs Work?

الأربعاء، 28 أكتوبر 2020

What Is Universal Basic Income, and Should Everyone Get It?

UBI is 'basic' in that it meets your basic needs, and it's 'guaranteed income' in that you know that it's coming. Pilot programs want to test whether having UBI can change your life for better. And can we afford it?

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What Is Universal Basic Income, and Should Everyone Get It?

الخميس، 22 أكتوبر 2020

What Is Probate and Can You Avoid It?

A lot of people don't like to think about death, which is why many estates go unplanned. But if someone dies without a will, their survivors may end up in a long expensive fight in probate court.

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What Is Probate and Can You Avoid It?

الاثنين، 19 أكتوبر 2020

How Do I Know if There's a Lien on My Property?

If you buy anything via a loan, like a house or car, the bank puts a lien on that property until it is paid off. But liens can also be placed on your property by other folks and without your consent, depending on circumstances.

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How Do I Know if There's a Lien on My Property?

الأربعاء، 7 أكتوبر 2020

How Campaign Finance Works

The 2020 presidential election is expected to be the most expensive ever, with President Donald Trump and Democratic nominee Joe Biden having raised $3.2 billion by October 2020. Where does this money come from, and where does it all go?

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How Campaign Finance Works

الاثنين، 5 أكتوبر 2020

What Is Mortgage Forbearance and How Do You Qualify?

Forbearance plans are typically offered as a way to keep borrowers in their homes during a period of unemployment or recovery from a natural disaster. The CARES Act makes it easier to qualify.

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What Is Mortgage Forbearance and How Do You Qualify?

الخميس، 24 سبتمبر 2020

When Should You Refinance Your Mortgage?

Refinancing your mortgage may be a great way to lower your monthly bills, but you need to keep these points in mind.

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When Should You Refinance Your Mortgage?

Refinancing your mortgage may be a great way to lower your monthly bills, but you need to keep these points in mind.

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Is It Unlawful to Remove the Tag From Your Mattress?

Most of us have heard that we're not supposed to remove the tags from our mattresses or pillows because it violates some kind of law. But what's the real story?

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Is It Unlawful to Remove the Tag From Your Mattress?

الأربعاء، 23 سبتمبر 2020

Who Qualifies for Alimony These Days?

Alimony is on the decline in the U.S. but can still bring out a highly emotional response during divorce. Here's what you need to know about alimony.

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Who Qualifies for Alimony These Days?

الاثنين، 21 سبتمبر 2020

What Is a Fiduciary Financial Adviser?

Not all investment professionals are fiduciaries — we've got four questions that smart investors need to ask a financial adviser before putting him or her in charge of their investments.

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What Is a Fiduciary Financial Adviser?

الخميس، 3 سبتمبر 2020

Bullet Journal Ideas for People Who Hate To-do Lists

Bullet journals can be as plain or as fancy as you want them to be. They're just a way to organize your thoughts and plans. And it's easy to get started.

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Bullet Journal Ideas for People Who Hate To-do Lists

الاثنين، 31 أغسطس 2020

5 Donation Tips for (Really) Helping Disaster Victims

Is it better to give cash or goods? And which organizations should you support? Find out the best ways to really help people in times of disaster.

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5 Donation Tips for (Really) Helping Disaster Victims

السبت، 29 أغسطس 2020

How Slack Works

Has your company recently begun using Slack? Don't have the faintest idea how it works? Our beginner's guide to how Slack works will have you slacking like a pro in no time.

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How Slack Works

الاثنين، 3 أغسطس 2020

How Does Kaizen Differ from Lean and Six Sigma?

The Kaizen philosophy of continuous improvement has been adopted by many big companies around the world. So, how did it start and how does it differ from Six Sigma?

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How Does Kaizen Differ from Lean and Six Sigma?

الاثنين، 27 يوليو 2020

Why Is the U.S. Experiencing a Coin Shortage?

Now that America seems to be getting over the great toilet paper shortage, the next thing in short supply is coins. But why?

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Why Is the U.S. Experiencing a Coin Shortage?

Now that America seems to be getting over the great toilet paper shortage, the next thing in short supply is coins. But why?

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الجمعة، 10 يوليو 2020

How Much Money Do You Really Make Selling Stuff Like Rodan + Fields?

Ever had a friend try to get you to sell Mary Kay, Rodan & Fields, Pampered Chef, jewelry, oils or some other product from home? How much can you really expect to earn doing these?

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How Much Money Do You Really Make Selling Stuff Like Rodan + Fields?

Why Do Some U.S. Bills Have a Star at the End of the Serial Number?

Most U.S. currency contains a serial number that ends with a letter, but some end or begin with a star instead. What does the letter stand for? What is the significance of the star?

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Why Do Some U.S. Bills Have a Star at the End of the Serial Number?

الثلاثاء، 23 يونيو 2020

Are Record Low Gas Prices Good or Bad for the Economy?

Gas prices have plummeted across the U.S. since the coronavirus pandemic. That might be a good thing for your wallet, but is it good for the economy? It depends.

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Are Record Low Gas Prices Good or Bad for the Economy?

الاثنين، 4 مايو 2020

How Much Can You Get In Unemployment Benefits?

The COVID-19 pandemic has resulted in huge increases of Americans filing for unemployment benefits. But why do the amounts given vary so much across states? And can states run out of money?

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How Much Can You Get In Unemployment Benefits?

الثلاثاء، 28 أبريل 2020

How to Future-proof Your Child's Credit From Fraud

The last thing you want for your child is to have their identity stolen before they're old enough to open a credit card. The good news is there are ways to protect them from financial fraud.

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How to Future-proof Your Child's Credit From Fraud

السبت، 8 فبراير 2020

The Role Personal Finance Plays in Your Life

We’re going to go down a road for a while that seems to have little to do with personal finance, but bear with me for a while. I think you’ll find the journey interesting.

It isn’t very often that I can say with complete seriousness that an article changed my life. How Will You Measure Your Life?, an article by Clayton M. Christensen that appeared in the Harvard Business Review in 2010, meets that threshold for me.

When I read that article, my primary motivation in life was to simply secure a “good life” for myself and my family. That motivation had led me to frugal living and some difficult but rewarding career decisions, but it hadn’t really changed who I was as a person. The reason was that, at least at the time, I didn’t really have any clear concept of what a “good life” meant.

That article struck a deep chord with me and started me down a long path of figuring out what exactly I wanted out of life in a large sense and, perhaps even more importantly, how that related to my own choices on a day-to-day basis.

I really started with a single question, one that I actually wrote down on paper and thought about a lot for a while. How can I ensure that my relationship with my family proves to be an enduring source of happiness? What would my relationship with my family members have to be like such that it would continue to be an enduring source of happiness for me throughout my life?

On one level, it was kind of easy to answer that. I want to have a really good marriage with Sarah, one where we’re connected on lots of levels, and an enduring relationship with my children that begins when they are children and persists (though changed in many ways) as they become independent adults with very distinct identities and lives.

OK, great, but what does that really look like? What does that mean?

Part of the difficulty of a lot of goals like that is that they inherently rely on things outside of my control. The success of my marital goal, as I describe it there, relies a lot on Sarah. Her choices, completely independent of me, could render that goal completely obsolete. A similar thing is true with my children. True success with that goal, as I thought of it, relies so much on the choices and efforts of my children. I could do everything perfectly and those goals could still completely fail.

I am reminded of a quote from Jean-Luc Picard, the ship captain from Star Trek: The Next Generation (a television series that was enormously impactful on me growing up):

It is possible to commit no mistakes and still lose. That is not a weakness; that is life.

This led me to a simple realization: I cannot measure my success in life by what others do. Rather, the only real measure of success in life is by what I do, by what I contribute to the world, and by what I put into myself and into others.

If I can genuinely look myself in the eye and truly know that I did my best to build a great relationship with my children that helps to shape them into independent, thoughtful adults, then that’s all I can ask, even if I don’t necessarily end up with the relationship I dreamed of. Rather, I will know that I did everything I could to maximize the chances of that great relationship and, honestly, that’s enough. Nothing else can be asked.

So, if I make this list of what I think my best life would be, one that I could lay on my deathbed and look back on with basically no regrets, it would involve mostly things that rely on certain behaviors and actions from other people. Since I can’t really control that, I inherently need to focus on what I can control: my own behaviors and actions.

What can I do to ensure the greatest likelihood that I have a marriage to Sarah that lasts and involves connections on many levels?

What can I do to ensure the greatest likelihood that I have a great relationship with my children now and as they grow up to be independent adults and good people?

What can I do to have a large number of truly great friendships?

What can I do to ensure that all of those important people in my life, as well as the people in my community and the people that I help through my work, live the best possible life that they can?

In the end, measuring my life boils down to assessing my own progress at those things (and similar questions related to all of the other things I want for my life). If I am not putting forth the effort to make those things happen, they’re far less likely to happen. The only real way to measure my own life is by my own efforts toward making the things I want most from life happen (or to avoid the things I don’t want).

So, how do I measure that? To put it simply, I define what I want out of life, consider what I need to do daily to make that most likely to occur, and then ask myself whether I’m doing my best each day in those efforts.

What about fun, though? If life is about measuring things in this way, doesn’t that take the fun out of life? For one, doing these things well is inherently fun. It feels really good to know that you are consistently putting forth effort to make those life goals happen, and the steps that I take are often fun on their own. Writing a really good article feels great. A bonding moment with Sarah or a kind or a friend feels fantastic. For another, there is plenty of room for rest and leisure in this life, because without that rest and self-care and leisure, you can’t do the other things well. A life where you’re completely burnt out is a life where you’re not doing anything particularly well, just getting by. For me, a lot of self-care comes from making sure I get good sleep and exercise, reading books, hiking, making foods, and playing tabletop games, and sometimes those overlap nicely with other life goals like building friendships and being a good parent or spouse.

Thanks to that article, I spent a lot of time figuring out exactly what I wanted out of life and how to measure it in a meaningful way, by developing daily systems and personal behaviors to get there and considering whether I did my best each day to do what I could to make those things happen.

Great, but how does all of this connect to finance?

Very few people truly have a life goal centered around wealth accumulation. They might have good financial health as a goal, but it’s usually secondary to the other things they want to achieve. In other words, their goals tend to rest on a foundation of good personal finances. It’s not about the money itself, but what the money can give them the freedom to do.

I don’t want to be rich, but I do want to maximize the flexibility of my time. I don’t need to have millions in the bank, but I do have a list of things I want to do that aren’t free.

Because of that, sound personal finance is a foundational part of the life I want to lead, and thus my financial state is one of the things I measure when I’m measuring my life.

What can I do to ensure the greatest likelihood that I have a marriage to Sarah that lasts and involves connections on many levels? Not having money stress is certainly one big aspect of this, as is having the financial resources to actually do some of the things we dream of doing together.

What can I do to ensure the greatest likelihood that I have a great relationship with my children now and as they grow up to be independent adults and good people? Being able to support them securely and pay for their educational opportunities when they’re young is a part of that, as is the financial ability to remain a part of their life when they’re older by traveling to see them wherever they may go.

Healthy finances simply underline a lot of my life goals because healthy finances keep my daily stress level low, allow me to focus on doing other things, and open up opportunities going forward. In other words, having a reasonable level of financial success is indeed one of the elements by which I measure my life. I don’t expect or even particularly want exorbitant wealth, but I want enough financial security so that I can do the other things I truly want to do in life, executing everything that would make me feel as though I lived a good life when I’m in my final years.

Because of that, I see healthy personal finance as a daily choice, one that is a fundamental part of the overall life I want to live. The ordinary, daily financial choices I make are genuinely important in shaping my life. Those choices support my desire to be a good husband, a good parent, a good friend, a good citizen, a thinking person, and other goals.

(I feel the same thing about personal health, too, though the development of that viewpoint came along a little later.)

Simply put, if I choose to spend money on something that isn’t genuinely in line with the other things I truly want out of life or isn’t highly likely to bring me some significant level of lasting joy, it is almost always the wrong choice.

Again, it’s easy to think of this as “never spending money on anything fun or spontaneous,” and that’s not the case. There are a lot of fun expenses and quite a few spontaneous expenses that are either directly in line with the big things I want out of life and also quite a few that are potential sources of lasting joy. The trick is really knowing which is which – some expenses that seem appealing in the moment really aren’t in line with anything I want out of life and really aren’t bringing me any lasting joy, either. Spending money on those things are mistakes.

The challenge, then, is knowing which expenses fall into that category of “in line with life goals or likely to produce lasting joy” and which expenses do not, and that’s a constant challenge. In fact, for me, that’s the daily challenge of personal finance, as most of my bigger financial choices are almost entirely automated through online bill pay and automatic savings plans.

Let’s see how that really plays out.

Ordinary small spending decisions really do connect to the big things you want out of life.

Let’s say you’re standing in a grocery store and you need to buy some dijon mustard. It’s an ingredient for a lot of things that you enjoy making – sandwiches, sauces, and so on – and cooking at home is something that you do frequently.

You come to the condiments area of the grocery store and there are a lot of options for dijon mustard. Several different brands in bottles and containers of different sizes with wildly different prices.

Which one do you buy?

Here’s the answer I’ve come to over the years, and it’s one that I’ll walk through carefully in just a minute: I buy the least expensive one available unless I know that brand hasn’t served me well in the past; usually, I buy the store brand one.

If a dijon mustard is good enough that it makes an appealing sandwich topping and works really well in the sauces and dressings that I make with it, then it serves its purpose.

Spending more on an ostensibly “better” dijon mustard, one where I really can’t tell the difference or the difference is slight, is a poor use of my money. Unless there is a truly significant difference between the “least expensive good” dijon mustard and a truly great mustard, the difference in cost is an expense that doesn’t bring me any noticeable real-life benefit. At most, it might bring me a very brief burst of pleasure, one that’s gone almost immediately because it’s not significantly any different than the cheaper mustard.

Thus, the money I spent to buy more expensive mustard that isn’t significantly better than the “least expensive good” mustard is money taken away from supporting all of those other things I want out of life.

Sure, you can argue that it’s just a dollar or two, but what am I getting out of that dollar or two? Furthermore, if I continually justify spending a dollar or two extra on things that bring me only the slightest, most temporary additional pleasure, over and over again, where is all of that money going?

Here’s the thing to remember: this is a daily process, one where I ask myself each day if I’m doing my best to create a financial life that supports all of the things I want to do. Spending extra money on things that do nothing but provide an instant of extremely fleeting pleasure — or no real benefit at all compared to the “least expensive good” version — don’t serve that.

Again, this doesn’t mean “no fun spending” — it just means choosing opportunities to spend money on fun that’s really meaningful or lasting.

For example, if I’m spending the day out and about with my daughter and we discover a sushi restaurant we’ve never seen before and she’s just having a great day with her dad and is excitedly looking in the window, then the $25 (or whatever) we spend there is a very good spontaneous expense. Yes, it’s probably $10 more than we’d spend on lunch, but this is a moment that has a high likelihood of creating a lasting memory for us and it’s going to be a genuinely enjoyable meal for both of us — we share a love for sushi. That’s $10 incredibly well spent, in my opinion. It is very likely to provide lasting pleasure in a way that restaurant meals rarely do because of the shared experience with her, plus it’s strongly in line with my life goal of having a strong relationship with my daughter.

I am getting so much more value out of the extra money spent on that sushi meal than I am out of buying three name brand products at the store and a forgettable coffee at a drive-thru. Thus, in order to ensure that I can always afford things like that sushi lunch without even thinking about it, I make constant effort to forego forgettable low-value things like name-brand mustard instead of store-brand mustard and forgettable drive-thru coffee instead of coffee at home and buying a book I may or may not like instead of just getting it from the library. Those things are forgettable. A great meal with my daughter that’s very likely to be a memorable father-daughter moment is not forgettable at all.

Instinctively knowing the difference between a meaningful expense and a non-meaningful one — and acting appropriately — is vital.

All of this comes down to a simple truth: a huge part of successful personal finance is making consistently good spending choices, day in and day out, and for me, that comes down with understanding how spending choices are in line with how I measure my life as a whole. A good spending choice is one that is in line with doing the best I can to have the life I want, and a bad spending choice is one that is not in line with that.

I’ll be honest: this takes a lot of reflection. This is a topic that has been tossed around in my mind for years in various ways, not just in understanding how my spending choices really connect to these things but also in simply understanding how I want my life to be measured.

However, the closer you get to a real understanding of what you truly want from life and how to measure your effort toward those things, the clearer and easier spending choices and other financial decisions become. Spending that isn’t in line with or directly supportive of those things you want out of life feel more and more wasteful, and financial decisions that do support the things you want out of life feel more and more joyful.

Yes, you most certainly can feel pretty joyful about not spending money on something temporarily fun and instead putting it aside to support something meaningful later on.

For me, this started with that key question I shared earlier, which I’ll share again here: How can I ensure that my relationship with my family proves to be an enduring source of happiness? In really, truly, deeply answering that question, I wound up with a much deeper understanding of what my spending choices really mean and how they affect me.

Here are some ideas for getting started on this path.

First of all, spend time thinking about how you measure your life. What is your idea of a good life? How do you want to live out your remaining years, and how do you want to be remembered?

Then, start translating those thoughts into daily actions. What can you do today to make sure that those things are happening, that those things are moving forward, that those things are supported and will be supported by my finances and my health?

The more you think about those things, the more you begin to see your financial decisions — even the little ones — as stepping stones for the life you want to live. Buying something frivolous that only brings momentary pleasure before it’s forgotten begins to seem really wasteful, even when it’s a small expense. Rather, the expenses that begin to seem more meaningful and more joyful and more pleasurable are the ones that are directly in line with or supportive of those big things you want out of your life.

Most of all, stop blaming others for your problems, or, if you must do this, ask how that blame translates directly back into personal action. Yes, there are times where life is incredibly unfair, but no good outcome ever arises if you don’t step up and take action in your own life. When you blame others for your problems, you are giving yourself permission to not put forth effort to improve your own situation. As long as you draw breath and think clearly, you have the capacity to make decisions that will put you in a better place or give you a better opportunity for a good outcome. Don’t sacrifice that out of self-pity due to the unfairness of life. Make the best outcome out of the hand you’re dealt, every single day. This isn’t to say that people don’t deserve help, but that the surest route to a better life is through your own consistent positive actions, no matter how bad the hand you’re dealt is. No one else can do that but you.

Think about what you want your life to be like. Then, ask yourself what you can do to maximize your chances of that life. The rest flows from there.

Good luck.

The post The Role Personal Finance Plays in Your Life appeared first on The Simple Dollar.

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How to File Your Taxes for Uber, Lyft and Other Popular Gig Apps

Tax Day is closing in, and the burden for gig workers is a little heavier because you’re considered independent contractors — not employees — of the popular app-based companies you work for.

By Jan. 31, you should have received the necessary tax information, on paper, digitally or both, to start on your self-employed tax return. (If you haven’t received anything yet, contact the companies).

Depending on whom you work for, you may not receive any physical documents at all.

Luke Richardson, a certified public accountant and tax instructor at the University of South Florida says that it’s possible — “even probable” — for gig workers to mistakenly think they don’t have to file if they don’t receive any tax documents.

Don’t be fooled: You’re still responsible for reporting your gig work income.

“You must file a tax return if you have net earnings from self-employment of $400 or more from gig work, even if it’s a side job, part-time or temporary,” according to the IRS’s new gig economy tax center.

Here’s a rundown of the tax forms you’ll need to use as a gig worker – plus a look at the tax policies of five of the most popular gig app companies: DoorDash, Grubhub, Postmates, Lyft and Uber.

Common Tax Forms for Gig Workers

In the eyes of the IRS, you’re a self-employed worker. That means it’s up to you to compile the appropriate tax forms and accurately report your income.

Common Income Forms Sent to You

Companies that paid you more than $600 in a calendar year should physically mail you a 1099, as required by law. If you work across multiple apps, it’s possible you will receive a 1099 from each company. And if you work for Uber or Lyft, you may receive two different types of 1099.

“This does not mean that payments under $600 are not taxable,” Richardson said.

The 1099-MISC, short for miscellaneous income, is a fairly straightforward document that includes your basic identifying information plus 19 boxes for various types of income.

pictured is the highlighted area on your 1099-MISC form where your freelance wages will be located.

As a rideshare or delivery driver, the box you need is No. 7, “nonemployee compensation.” For most gig apps, that box will include your gross earnings for the past calendar year. The other income boxes will likely be empty.

There are exceptions, mainly for Uber and Lyft drivers. Both companies use the 1099-MISC form, but the amount they list in box No. 7 is not your total income. Uber and Lyft put earnings only from bonuses, promotions, referrals and any other non-driver services in this box. The bulk of your income is reported on a separate form.

The 1099-K form is favored by Uber and Lyft. However, you will receive this form only if you completed more than 200 transactions (read: rides) and earned more than $20,000 during the previous calendar year.

Pictured is the highlighted area on the 1099-K form where your freelance wages will be located.

If you receive the 1099-K, the primary box you’re looking for is No. 1a, “gross amount of payment card/third-party network transactions.” That’s jargon for “net income from Uber or Lyft.” Boxes No. 5a through 5l are also useful. They will break down your net income month-by-month.

Let’s say you’re an Uber or Lyft driver who earned $19,000 last year. You probably qualify for the 1099-MISC, not the 1099-K. Your MISC may show only $750 but your bank account says you earned $19,000 from driving. What do you do? Report the full amount. Both companies compile an unofficial tax summaries (more on them later). Refer to those numbers – not just the small figure on the 1099-MISC – to file your return.

Pro Tip

Most Uber and Lyft drivers don’t meet the 1099-K threshold and won’t receive this form. Again, even if they don’t send you the form, you are still responsible for reporting your earnings.

Tax Return Forms You Send to the IRS

After you’ve tracked down all your 1099s and tallied up your net income, your next step is to get that number as low as possible by subtracting any and all applicable business expenses and deductions.

Review our freelance and side hustle tax guide for more details on what deductions you may qualify for as a self-employed worker – and what to do if you need to file quarterly.

As a gig worker, may need to file the following tax forms with the IRS:

Form 1040: This is now the main form used by all U.S. taxpayers to file an annual income tax return. (Forms 1040S and 1040EZ are no longer available.)
Schedule C: is a sub-form of the 1040 used to tally up your profit and loss as an independent contractor. Line No. 1 is where you report gross income from all 1099s or from the income summary provided in your gig app. The subsequent boxes are examples of business expenses you may use to lower your taxable income. Line No. 31 is your net profit, a number you’ll need for the Schedule SE.
Schedule SE: This is another 1040 sub-form for self-employed (gig) workers. Use it to calculate your 15.3% self-employment tax obligation.
Schedule 2: is an “additional tax form,” i.e. where you provide the amount you owe in self-employment taxes from the SE form above. Put that figure on line No. 4 and the grand total on line No. 10.
Form 1040-ES: Use this form, instead of the standard 1040 if you need to file quarterly taxes.

Tax Policies and Resources of 5 Popular Apps

What forms you receive and what tax service you choose to file with depends on the company you’re working for. Each company has slightly different tax policies and may offer discounts for different tax-filing software services. Here’s how they stack up.

Pro Tip

Before you shell out money to file, check to see if your gig app partners with a tax software company. Review the IRS’s new resources for gig workers, and don’t forget about IRS Free File.

DoorDash

DoorDash partners with Payable.com to keep track of your tax information electronically and should send you an invite via email to set up your Payable account before the end of January.

If you don’t set up a Payable account, you can’t access your tax information online. By default, DoorDash will mail your tax form to the address associated with your Dasher account, unless you specify otherwise.

Review DoorDash’s tax FAQ or the company email for more information about Payable. If you do not receive your 1099, contact DoorDash customer support.

Primary tax form: 1099-MISC.

Who: Dashers who earned more than $600 the previous calendar year.

How: Electronic and paper form.

Grubhub

If you’re a Grubhub driver, you can access your 1099-MISC online, as long as you’ve met the income threshold of $600. The company doesn’t compile an annual tax summary for you.

Instead, your last eight monthly summaries are listed on the driver’s app. If you haven’t saved copies of them throughout the year, you may miss out on company-provided tax information from the early months of the last year.

According to the Grubhub’s tax FAQs, it mails your 1099-MISC on Jan. 31, meaning you likely won’t receive it until mid February. If you can’t access your 1099 online, or if it doesn’t arrive by Feb. 15, Grubhub recommends contacting support at 1099@grubhub.com or at 888-831-5729.

Primary tax form: 1099-MISC.

Who: Grubhub drivers who earned more than $600 the previous calendar year.

How: Paper form only.

Lyft

According to Lyft’s tax site for drivers, the company partners with TurboTax to provide free self-employed tax-filing services. Live help from TurboTax’s CPAs is discounted 50%.

Lyft is one of the two main gig apps that uses the 1099-K form, which means the majority of your earnings from fares will be reported on that form – not the 1099-MISC. It’s more likely that you will receive a 1099-MISC, and the income on that form will be much lower than your total gross earnings. You still need to report the remainder of your income not included on the MISC.

To access your tax documents online, log in to your driver dashboard and click the “Tax Information” tab. There, you’ll be able to view your 1099-MISC, 1099-K and an unofficial tax summary document compiled by Lyft. The tax summary displays your net earnings and is especially useful if you don’t meet the thresholds for either 1099 form.

Primary tax forms: 1099-MISC and 1099-K.

Who: Lyft drivers who earned more than $600 from bonuses and referrals (1099-MISC); those who completed more than 200 fares and earned more than $20,000 (1099-K). Everyone else should report net income from the app’s tax summary.

How: Electronic and paper form.

Postmates

Postmates partners with Stride to help manage your taxes through Stride’s tax app. You won’t be able to file through Stride, but the app does help track mileage and expenses.

If you’ve met the $600 annual income threshold, Postmates should send you a 1099-MISC either online, electronically or both. The company doesn’t compile an annual tax summary for you, rather it recommends you refer back to your emailed weekly tax reports.

If you’re having issues accessing your 1099 or haven’t received it on time, report your tax issue to Postmates.

Primary tax form: 1099-MISC.

Who: Postmates who earned more than $600 the previous calendar year.

How: Electronic and physical form.

Uber

Like Lyft, Uber partners with TurboTax to provide free self-employed tax-filing services – plus a 50% discount for live chats with TurboTax’s CPAs.

Uber – also like Lyft – prefers the 1099-K form. As an Uber rideshare or delivery driver, you’re more likely to meet the $600 threshold for the 1099-MISC form. Remember, the gross earnings reported on the MISC are only for things like promotions and referrals. The rest of your gross income is reported on the 1099-K, if you qualify, or in Uber’s online tax summary document.

You can view your tax summary on or after Jan. 31, via the tax information tab of your partner dashboard. You should have access to Uber’s tax summary even if you haven’t met the income thresholds for either 1099 forms.

Primary tax forms: 1099-MISC and 1099-K.

Who: Uber drivers who earned more than $600 from bonuses and referrals (1099-MISC); those who completed more than 200 fares and earned more than $20,000 (1099-K). Everyone else should report net income from the app’s tax summary.

How: Electronic and paper form.

Adam Hardy is a staff writer at The Penny Hoarder. He covers the gig economy, entrepreneurship and unique ways to make money. Read his latest articles here, or say hi on Twitter @hardyjournalism.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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الجمعة، 7 فبراير 2020

70,000 Nationwide customers to be refunded

The Competitions and Markets Authority has ordered Nationwide to refund customers following a breach of overdraft rules.

Brean Horne Fri, 02/07/2020 - 11:33

Nationwide is to repay customers £900,000 after breaching overdraft rules set out by the Competition and Markets Authority (CMA).

Customers with a personal current account must receive a text alert warning of fees before banks charge them in an unarranged overdraft, under Part 6 of the CMA’s Retail Banking Code.

The rules aim to give people time to take action and avoid paying unexpected overdraft fees.

Although Nationwide did send text alerts, they did not contain a warning that customers would be charged for using an unarranged overdraft.

Around 70,000 customers were affected by the breach.

What happens next?

Nationwide has put an independent auditor in place to review its processes, as directed by the CMA, and has begun refunding its customers.

The refunds paid by the building society cover all fees incurred by customers from going into unarranged overdraft.

It is the second time in six months the CMA has taken action against Nationwide for breaking this order.

In August 2019 Nationwide had to pay a £6 million refund to hundreds of thousands of customers.

Adam Land, senior director of remedies, business and financial analysis at the CMA says: “Banks and building societies that fail to send customers text alerts saying they will be charged if they enter an unarranged overdraft are breaking the rules.

“The fact that Nationwide is a repeat offender makes it even more serious.

“Following our action, it will now repay all affected customers, and quickly.

“This is exactly the sort of issue we would expect to fine companies for in future, if the Government gives us the increased powers we’ve asked for.”

Nationwide say that they are in the process of contacting affected customers and will issue refunds automatically.

Sara Bennison, chief marketing officer at Nationwide Building Society, says: “The CMA Directions, issued to Nationwide in August 2019, required the Society to complete an independent review of its processes in relation to text alerts.

"While all members received their texts on each and every occasion, this review identified that alerts sent to members who were in Collections did not explicitly state that they would be charged an unarranged overdraft fee.

“While these members haven’t been overcharged, we appreciate these texts are designed to help people avoid unarranged overdraft charges, so we apologise that on this occasion we didn’t meet the high standards we set ourselves.

"We are contacting impacted members and will be automatically refunding the charges back into their account.

“From 11 November 2019, the Society removed unarranged overdraft charges, so this issue will not occur again in the future.”

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Deal of the week: Valentine's Day deals special

Valentine’s Day can be expensive, but it does not have to cost you a fortune. Here is a round up of the best Valentine’s Day deals

Stephen Little Fri, 02/07/2020 - 11:06

What’s the deal exactly?

Flowers

One of the biggest romantic gestures you can make on Valentine’s Day is to send flowers.

Marks and Spencer is selling a dozen red roses for £20. The stem length is £50cm and delivery is free.

The cheapest roses at Waitrose start at £25 for a dozen, going all the way up to £100 for a luxury bouquet.

If you are looking for something a little bit cheaper, Tesco has a traditional bouquet of 12 short-stem red roses at £5, available from 10 February.

Asda also has lots of different offers, with a bunch of roses starting from £2.

Eating in

Going out to a restaurant can be expensive, so how about staying in for a romantic evening?

Marks and Spencer has a delicious three-course meal for just £20. You can choose from any starter, main, side, dessert and wine. The offer runs from 10-14 February

Tesco’s three course Valentine's Day meal gives you the choice of a starter, two mains, a dessert and a drink, all for just £20.

The deal is made up of 27 products, which allows you to choose from more than 15,000 combinations.

Starters include salmon and watercress tart filled with a crème fraiche and creamy cheddar cheese sauce, while the mains include chicken in champagne sauce and lamb shank and roasted vegetables.

Morrison’s is offering shoppers a three-course Valentine’s Day meal with a bottle of wine or Prosecco for £15 from 10 to 16 February.

Asda has a £15 meal which includes a starter, main, two sides, dessert and a drink, running until 16 February.

Restaurants

Pizza Express – Three course set menu for two people for £28.95 on 14 and 15 February only. Example menu - garlic dough balls, American pepperoni pizza and a glass of Prosecco.

Carluccio's – Three courses from its special Valentine’s Day menu for £24.95, available from Wednesday 12 February to Sunday 16 February. Example menu – chicken breast in prosciutto, ricotta and spinach ravioli, crab and langoustine fettucce, and rhubarb panna cotta.

Prezzo – Two courses for £16.50 or three courses for £19.50. Available from Thursday 13 February until Sunday 16 February. Example menu – grilled chicken breast with mushrooms, goat’s cheese and red pepper pizza and honeycomb smash cheesecake.

Zizzi – Get three courses from its special Valentine’s Day menu for £21.95 per person, available from Thursday 13 February until Sunday 16 February. Example menu – tortellini filled with pumpkin, chicken breast with sage, and passion fruit cheesecake.

Why should I care?

Valentine’s Day can be an expensive business, so it is always wise to take advantage of any discounts.

What’s the catch?

If you are going out for a meal or eating in, you will be limited by the options on the set menu.

What other options do I have?

Have a look round your local restaurants as they might be running a special Valentine’s Day deal.

You can also read the weekly updated Moneywise Cheap Eats guide to see the best restaurant offers which are unrelated to Valentine’s Day.

Where can I find out more?

You can find more information about the deals on the Marks and Spencer, Tesco, Asda, and Waitrose websites.

For more information about Carluccio's, Pizza Express, Prezzo and Zizzi go to their websites.

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Energy price cap will fall by £17 from April

Ofgem says millions of households will save on energy bills.

Emma Lunn Fri, 02/07/2020 - 09:14

The energy price cap will fall from £1,179 to £1,162 for the summer period (April to September), due to lower wholesale costs.

The level of the prepayment meter cap will also fall by £17, from £1,217 to £1,200 per year for the same six-month period.

Ofgem says the caps protect about 15 million customers from being overcharged for gas and electricity.

What is the energy price cap?

The energy price cap establishes a maximum price that can be charged per unit of energy, and a maximum that can be charged per day as a standing charge.

The cap is reviewed every six months and will rise or fall based on the costs that Ofgem calculates suppliers need to spend to get energy to your home.

Jonathan Brearley, chief executive at Ofgem, says: “The default price cap is designed to protect consumers who do not switch from overpaying for their energy, whilst encouraging competition in the retail market.

“Suppliers have been required to become more efficient and pass on savings to consumers. In its first year, the cap is estimated to have saved consumers £1 billion on average on their energy bills and switching rates have hit record levels.”

Why has the price cap fallen?

A large part of the reduction in the caps is due to wholesale energy prices continuing to fall between August 2019 and January 2020. A strong supply of gas, such as record amounts of liquefied natural gas and healthy gas stock inventories, has been the main factor pushing down wholesale prices.

As a result, the wholesale energy cost element of the default tariff cap fell from £446 to £408.

These reductions offset cost increases totalling £22 of other elements such as operating costs, network charges, smart meter costs and environmental schemes, resulting in an overall reduction of £17 in the level of the default tariff cap.

Shop around to save money

The energy price cap applies to energy suppliers’ standard variable or default tariffs. Energy users are often switched to these tariffs at the end of a fixed rate deal.

Switching away from a default tariff to a cheaper deal could save a typical household more than £300 a year according to Compare The Market.

Ed Dodman, director of regulatory affairs at the Energy Ombudsman, says: "This reduction in the price cap is good news for the millions of UK households currently on default tariffs, but shouldn’t discourage people from shopping around for better deals.

"When switching, we would encourage consumers to look at the customer service they can expect to receive as well as how much money they could save.”

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Farmers Renters Insurance Review 2020

Founded in Los Angeles in 1928, just one year before the Great Depression, Farmers Insurance survived the worldwide economic disaster and expanded to become one of America’s premier insurance providers. In its infancy, Farmers offered car insurance for farmers, but over the years, the company expanded its portfolio to include insurance for businesses, homes and recreational vehicles. Farmers also has investment products.

Farmers sells renters insurance through independent insurance agents and numerous subsidiaries, including Farmers Financial Solutions, Farmers New World Life Insurance Company, Foremost Insurance Group, The Bristol West Insurance Group, The 21st Century Insurance Group and Toggle. Farmers writes insurance policies in all 50 states and boasts a workforce of 21,000 employees, who serve nearly 20 million policyholders.

Find the Best Renter Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

The Specs

Price	$181 nationwide average annual premium
Best for	Renters who want inexpensive basic coverage
Not for	Renters in flood or earthquake zones
States served	All states
Discounts	Yes, a few
AM Best Rating	A (Excellent)
Standout Features	Customizable policies

The claim

Farmers’ standard renters policies offer no-frills protection and include additional living expenses, liability, medical payments and personal property coverages. You also have the option to add replacement cost and identity protection coverages.

Farmers claims to offer superior customer support and a simple claims process, giving you the option to file a claim by calling the company, through your insurance agent or online.

Is it true?

In its 2019 U.S. Renters Insurance Study, J.D. Power ranked Farmers eighth in the nation. Farmers received lackluster scores in all ratings categories, which include billing process and policy information, claims, customer interaction, overall satisfaction, policy offerings and price. J.D. Power awarded Farmers two out of five stars in all categories except claims, which did not receive a rating. Power’s top renters insurance company, American Family, earned five out of five stars in all categories, except claims, which did not receive a rating.

Our deep dive

Most people need a variety of insurance policies to cover what’s valuable in their lives. Farmers Insurance offers a range of insurance policies, including:

Car insurance
Business insurance
Homeowners insurance
Landlord and rental properties insurance
Life insurance
Motorcycle insurance
Pet insurance
Recreational insurance
Umbrella insurance

Farmers also offers a handful of financial and investment products, including:

Annuities
College savings plans
Mutual funds

Cost rundown

Numerous factors can affect the cost of a renters insurance policy, including:

Age of the policyholder
Dog ownership
Dwelling features, such as a pool or trampoline
Location of the home
Marital status of the policyholder
Safety features such as security systems, smoke alarms and sprinkler systems
Unrelated roommates

American households pay an average annual renters insurance premium of around $188. We requested a renters insurance quote from Farmers and liked the price we received. Based on $25,000 in personal property coverage, for an apartment in San Francisco, California, Farmers delivered an annual rate of $130 per year. The standard rate requested also included $5,000 in additional living expenses, $1,000 in medical payments and $100,000 in personal liability coverages with a $1,000 deductible.

Cheaper (or free!) alternatives

Farmers offers a few ways to reduce your renters insurance rate:

Earn a discount when you purchase other Farmers insurance policies.
Non-smoking households may qualify for a renters insurance discount.
Install a fire alarm or security system for even more savings.

Toggle, a Farmers subsidiary dedicated exclusively to renters insurance, may offer you more options and lower rates. The Toggle website enables you to adjust coverage for specific types of property such as technology, furniture and sports equipment. The quotes we received on Toggle offered a savings of $1 to $2 per month compared with the Farmers quote.

The competition

Insurance companies that received the best overall satisfaction ratings in the 2019 U.S. Renters Insurance Study included:

American Family: 5 out of 5
USAA: 5 out of 5
State Farm: 5 out of 5
Auto Club of Southern California Insurance Group (AAA): 3 out of 5
Erie Insurance: 3 out of 5

USAA only offers insurance and financial products to military members and their families. However, if you qualify, a USAA renters policy offers much more protection than Farmers coverage. Most insurance companies don’t cover losses caused by flood or earthquake damage or they sell optional flood and earthquake policies. However, USAA covers earthquake and flood damage in its standard renters insurance policies.

American Family offers impressive optional coverages, which you can add to your rental policy. For example, travel protection coverage helps protect your belongings when you hit the road and includes global medical expense coverage and trip cancellation.

AAA auto club members can earn a discount when they purchase a renters insurance policy. AAA’s standard renters policy includes replacement cost coverage, which many other companies only offer as an option. Replacement cost coverage comes in handy if you need to replace items that depreciate, like computers or electronics.

When shopping for renters insurance, always consider the quality of coverage. Renters insurance is relatively inexpensive, so paying a few dollars more for better coverage can pay off in the long run.

What others are saying

The Better Business Bureau gives Farmers Insurance an A+ rating. The BBB has received around 700 complaints against Farmers in the last three years. In the last year, Farmers has settled more than 200 BBB complaints.

The National Association of Insurance Commissioners gives Farmers a 0.66 score on the homeowners complaint ratio report, much lower than the national average. In 2019, complaints filed against Farmers with the NAIC dropped 19%.

In 2019, Apartment Guide ranked Farmers renters insurance the tenth best in the country.

The bottom line

Farmers offers great rates for renters insurance, but its standard renters policies provide rather average coverage. While Farmers allows you to increase your coverage levels, standard renters policies with some other companies have better features, such as earthquake, flood and replacement cost coverages.

The post Farmers Renters Insurance Review 2020 appeared first on The Simple Dollar.

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Liberty Mutual Renters Insurance Review 2020

Liberty Mutual has been in the insurance business for more than a century. The Boston-based insurer sells insurance products nationwide and boasts a workforce of 50,000 employees in 30 countries. With an estimated $126 billion in assets, Liberty Mutual ranks #75 on the Fortune 500 list, where it has appeared for 25 years.

In recent years, Liberty Mutual has earned an impressive number of awards for its charitable contributions, green energy initiatives and workplace diversity. Liberty Mutual has a history of supporting entertainment and sports programs, sponsoring U.S. Hockey and the U.S. Olympic and Paralympic Team, along with PBS programs such as American Experience and Antiques Roadshow.

Find the Best Renter Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

Liberty Mutual sells a wide range of insurance products, including renters insurance. But how do Liberty Mutual’s renters policies stack up against the competition?

The specs

Price	$285 nationwide average annual premium
Best for	Renters who want low-cost basic coverage
Not for	Renters who want earthquake or flood insurance in a standard policy
States served	All states
Discounts	Claims free Military Early shopper Smart Home Protective devices Multi-policy Automatic payment Online purchase Paperless policy
AM Best Rating	A (Excellent)
Standout Features	Loads of discounts available

The claim

Liberty Mutual’s standard renters insurance policies include the basic coverages most insurance carriers offer, including additional living expenses, liability, medical payments and personal property coverages. Liberty Mutual claims to have the best discounts on the market for renters insurance policyholders.

Is it true?

Liberty Mutual offers renters insurance policyholders nine discount programs. Nonetheless, in J.D. Power’s 2019 U.S. Renters Insurance Study, Liberty Mutual earned just two out of five stars for its pricing.

Our deep dive

One-stop insurance shopping makes protecting your valuables a little easier, so it’s important to find an insurance company that can handle all your needs. Liberty Mutual’s portfolio of products holds an impressive variety of insurance policies to cover your:

Automobile
Boat
Condo
Home
Life
Mobile home
Motorcycle
Pet
Recreational vehicle

In the personal insurance category, Liberty Mutual also provides policies to help protect you from identity theft losses, pay for critical illnesses and cover flood damage. Business owners can also turn to Liberty Mutual to protect their interests in land- and marine-based businesses.

Cost rundown

When shopping for renters insurance, various factors can affect your rate, including:

Your age
Location of your home
Security and safety features of your home such as alarm systems and smoke detectors
Dog ownership
Recreational features such as swimming pools
Roommates

Based on a study by The Zebra, a company that researches the insurance market, U.S. renters pay an average annual renters insurance premium of $188. We requested an online quote from Liberty Mutual and were pleasantly surprised by the rate we received. According to the quote, we could purchase $25,000 worth of personal property coverage, for an apartment in San Francisco, California, for around $100 per year. The quote also included $5,000 of additional living expenses coverage, $100,000 of liability coverage and $1,000 of medical payments coverage, with a $1,000 deductible.

Cheaper (or free!) alternatives

Some insurance companies offer just a few discounts to lower your renters insurance rate. But Liberty Mutual provides nine discounts to make your policy more affordable, including:

Claims-free discounts
Early shopper discounts
Military discounts
Multi-policy discounts
Online purchase discounts
Paperless policy discounts
Preferred payment discounts
Protective devices discounts
Smart home discounts

The competition

While Liberty Mutual earned a top-ten spot in the 2019 J.D. Power U.S. Renters Insurance Study, several companies received significantly higher overall satisfaction scores, including:

American Family: 5 out of 5
USAA: 5 out of 5
State Farm: 5 out of 5
Auto Club of Southern California Insurance Group (AAA): 5 out of 5
Allstate: 2 out of 5

J.D. Power rates renters insurance companies in several categories, including billing process, claims handling, customer interaction, policy offerings and price. Liberty Mutual received two-star ratings in most categories, while the top two companies earned five stars in all categories.

Some of the top J.D. Power winners offer renters insurance policies with features that Liberty Mutual doesn’t. For example, USAA’s standard renters policy covers damages caused by earthquakes and floods. Liberty Mutual offers optional earthquake and flood insurance at an additional cost. USAA only offers products to military members and their families, but if you qualify, you can take advantage of their exceptional renters insurance.

AAA offers renters insurance discounts for its auto club members. That’s not unusual and comparable to Liberty Mutual’s multi-policy discount program. However, AAA renters insurance policyholders can also receive discounts with major moving and relocations companies, saving big on expenses such as moving vehicles and storage.

Allstate and Liberty Mutual received the same overall satisfaction score, five out of five stars. However, Allstate earned five stars for its superior claims handling. We’re also impressed by Allstate’s seniors discount program, which offers up to a 25% discount for policyholders 55 years of age or older.

What others are saying

The Better Business Bureau awards Liberty Mutual an A rating. Many of the complaints filed with the BBB against Liberty Mutual involve billing issues and product or service problems.

In a comparison of car and renters insurance discounts, The Zebra ranked Liberty Mutual in the top four, beating Nationwide, Progressive, State Farm and USAA. The study determined that Liberty Mutual renters insurance policyholders earn an average discount of 5.06%.

Bankrate also gave a nod to Liberty Mutual for its excellent discounts, listing the Boston-based company among the best renters insurance companies of 2020.

The bottom line

While Liberty Mutual’s standard renters insurance policies offer basic coverages, the discount programs exceed most other insurance companies. If a standard policy doesn’t fit your needs, Liberty Mutual has a few options such as earthquake, jewelry and replacement cost coverages to provide more comprehensive protection.

The post Liberty Mutual Renters Insurance Review 2020 appeared first on The Simple Dollar.

This Site is Having a Massive Android Phone Sale

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

We’ve all been there.

Your phone screen is so cracked that shards of glass get lodged into your thumb. You tote a phone charger with you 24/7 because your battery lasts no more than a few hours. You can’t actually make a phone call because the sound has just, well, disappeared.

But you don’t want to fork over hundreds — even thousands — of dollars for a new phone, so you just settle.

Not anymore. You can get a new Android phone from Boost Mobile starting at $71.99. Total.

The discount wireless carrier that operates on the Sprint network has marked all its Android devices 20% off. Plus, it’s running a solid Valentine’s Day deal where you get an extra 20% off specific models.

Replace Your Old Phone With a New Android Starting at $71.99

A 20% savings is nothing to scoff about when it comes to buying a new phone. That can save you a serious chunk of change.

If you want to save even more, check out the Samsung Galaxy A10e or the Samsung Galaxy A20. They’re each marked down $50; plus, you’ll unlock an additional 20% off when you use the promo code VDAY2020.

That means you can get a Galaxy A10e for $71.99 (excluding taxes and fees), regularly $139.99. Or, if you want the Galaxy A20, you can get it for $143.99 (excluding taxes and fees), regularly $229.99.

Here’s a recap of what you need to know about this Boost Mobile deal:

It runs from Feb. 4 to Feb. 17.
All new Androids are 20% off.
Use the promo code VDAY2020 at checkout to snag that extra 20% off the Galaxy A10e or A20.
This deal is online only, so you won’t find it in stores.

Oh, and Go Ahead and Pick up a Family Plan For $25/Line

Getting a new phone through Boost Mobile doesn’t require you sign up with one of its phone plans, but, honestly, it’s a smart move.

It offers a family bundle (four lines) for $100 a month. That’s just $25 a line — three times cheaper than the average. (For reference, the average monthly cell phone bill these days is about $80 for a single line.)

And it includes unlimited everything: unlimited data, minutes and texting.

So are you ready to finally stop getting glass stuck in your thumb and save a ton of money on your cell phone bill? Pick out your new Android, and use code VDAY2020.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. He’s got little kids who want their own cell phones.

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