Key Takeaway: Casinos ask for social security numbers for legal compliance: The collection of social security numbers is required by state and federal regulations for anti-money laundering and tax reporting purposes. Social security numbers are collected for security purposes: Casinos use social security numbers to verify the age and identity of players and detect fraudulent…
Key Takeaway: Social investment refers to investments made with the intention of social impact alongside financial returns. It is a way for investors to contribute to positive social change while generating profits. There are two types of social investments: financial and non-financial. A financial social investment involves investing in a cause or organization that aims…
Key Takeaway: When the Federal Reserve increases interest rates, it leads to increased borrowing costs for businesses that rely on loans to fund investment projects, resulting in reduced investment spending. Increased interest rates also have negative effects on the stock market, resulting in reduced stock prices for businesses. However, increased interest rates can lead to…
Key Takeaway: Investment Credit Recapture is a process of reclaiming tax credits previously claimed by businesses, landlords or individual taxpayers. Investment credit recapture can arise for various reasons including failure to comply with eligibility requirements or taxpayer ceased using the qualifying property before the end of its useful life. Types of Investment Credit Recapture include…
Key Takeaway: A good investment can provide high returns: Investing in assets that appreciate in value, such as stocks and real estate, can yield higher returns over time than keeping money in a savings account. Higher returns can help build wealth, fund retirement, and achieve financial goals. Risk mitigation is an important aspect of a…
Key Takeaway: Factors affecting your pension calculation include income, contribution years, and retirement age. It’s important to understand the formula used to calculate your pension to plan and prepare for your retirement. There are different types of pensions including state, occupational, and personal/private pensions. Understanding the different types of pensions and what they offer can…
Key Takeaway: Social Security benefits may be suspended due to non-compliance with eligibility criteria, working and earning limitations, criminal conviction and incarceration, failure to report changes in circumstances, inaccurate or incomplete information, and medical recovery and improvement. If your Social Security benefits are suspended, you have the right to appeal the decision. This can be…
Key Takeaway: Equity investment refers to investing in the ownership of a company in the form of stocks or shares. This type of investment gives investors an opportunity to earn high returns and participate in the growth of a company. There are three main types of equity investments: individual stocks, mutual funds, and exchange-traded funds…
Key Takeaway: The average pension for a postal worker is primarily determined by their length of service, career status, and retirement age. These factors play a key role in the calculation of their pension benefits and can greatly impact their overall retirement income. The High-3 Average Salary and Annual Pension Accrual Rate are two main…
Key Takeaway: A pension award letter is a document that notifies an individual of their eligibility for pension benefits from a retirement plan. It contains important information such as the benefit amount, payment dates, and plan rules and regulations. The pension award letter is sent to individuals who meet the criteria for eligibility for pension…
Key Takeaway: Understanding the importance of protecting your Social Security Number is essential. Your SSN can be used to commit identity theft and financial fraud, which can have long-lasting consequences on your personal and financial life. There are free alert services available that can help you monitor and protect your SSN. These alert services can…
Key Takeaway: Social Security Administration: The SSA is the government agency responsible for administering Social Security benefits and addressing any issues related to retirement, disability, and survivor benefits. Types of Social Security Issues: Common issues include problems with benefit payments, eligibility disputes, and appeals for denied benefits. Different types of benefits, such as retirement, disability,…