TessMore Finance Blog

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 . It’s the most wonderful time of the year and for many of us, it’s also the most expensive. Finding the ideal gifts can be challenging and end up hurting your wallet more than you’d like. It’s enough to fill even the most savvy shopper with dread. You might have been able to avoid buying some gifts last year since your office probably didn’t have a holiday party with a white elephant gift exchange, and your friend group may have skipped the secret Santa due to concerns about COVID. But 2021 is different. While the pandemic is still with us, people are more comfortable gathering now that vaccines are available. The pandemic will affect gift-giving in other ways this year, though. Factory shut-downs early on in the pandemic caused shipping companies to cut their schedules to accommodate for what they expected

Insurance premiums can be a sizable expense. We make monthly payments with the expectation of receiving substantial benefits later on in life. But what do you do if your insurance company goes out of business? Getting a refund isn’t always going to be an option. The impact can be worse for life, long-term care, and disability policies. Here are some options if your insurance company declares bankruptcy. Table of Contents Can an Insurance Company Go Out of Business? Insurance Company Ratings Insurance Company Bankruptcy Process Insurance Company Rehabilitation Transferring Insurance Products Insurance Company Draws on Its Cash Reserves Reinsurers State Guaranty Funds What To Do If Your Insurance Company Goes Out of Business? Keep Paying the Premium Monitor Insurance Communications Consider Switching Insurance Products Final Thoughts Can an Insurance Company Go Out of Business? In recent memory, one of the more notable insurance company failures was American

In a common notion, a bank account title represents the account owners of a bank account. However, in many cases, the legal owners and the bank account title can be different. A bank account title has several uses and it is important for the account holders. It has several legal and compliance uses as well. Let us discuss what is a bank account title, the types of account titles, and their importance. What is a Bank Account Title? A bank account title is a unique name assigned to a bank account. It represents the bank account owner(s). It can be the same as the name of the bank account owner but it may be different in many cases as well. In most cases, the bank account title represents the bank account ownership. For individual accounts, the normal practice is to enlist account holder names as account titles. However, the practice is different for corporate and trust bank accounts. For example, the owner of a small business Rebecca flowers may set its business name “Rebecca Flowe

The accounting treatment for the issuance of new shares depends on the market value and the form of consideration received. Commonly, companies issue new common stocks to raise additional capital from the market. Companies without a trading stock value can also issue new shares to specific investors. Let us discuss the accounting treatment of issuance of new shares with different examples. How to Account for Issuance of New Shares? A company may issue new shares at any time after approval of shares allocation from the SEC. Many quoted companies get approvals for their List A, B, or C class shares at once and issue these shares whenever they need. Non-quoted companies can also issue new shares in exchange for cash or any other asset from new investors. The accounting treatment remains the same for types of companies. New stocks issued should be recorded on their settlement date at fair market value. The fair value is usually the cash received by the company against issued shares.

Capital assets are any significant investments held by an individual or a business. As long as these assets are held by the owners, they are not subject to any taxes. Capital assets owe taxes with capital gains. The tax rates are significantly lower than ordinary income tax rates. However, taxpayers must be mindful of certain conditions to take full advantage of capital gains tax rates. Let us discuss what are capital assets and how are they subject to taxes. What is a Capital Asset? For individuals, a capital asset is any significant piece of property such as a house, car, or business. It can also be in the form of an investment such as in an IRA, stocks, bonds, or even collectibles. From a business perspective, a capital asset is any asset held by a business for more than one year. These are also called long-term or fixed assets. Capital assets of a business held for more than one year should not be held for sale. Generally, we can define a capital asset as an asset held by an

The bank capital is the sum of resources a bank can use against insolvency risks. Its assets include share capital, retained earnings, and loans issued. The bank capital to asset ratio is an important measure to understand the financial stability of the bank. Let us discuss what is the bank capital to asset ratio, how it is calculated, and what are its important components. Bank Capital to Asset Ratio The bank capital to asset ratio is also called the capital adequacy ratio of capital to risk-weighted asset ratio of a bank. The bank capital to asset ratio is the measure of total capital held by a bank against its assets. It measures the ability of a bank to protect its solvency. It denotes the ability of a bank to pay its liabilities using its capital and assets. Since banks provide crucial economic support to an economy in any country, their financial stability is critical. Regulatory authorities and central banks set certain requirements for commercial banks to maintain their fi

With summer now behind us (*weep*), you may be looking for more economical bottles of delicious red wine with firm tannins to go with those crispier days, heavier meals and crackling fires. But you don’t need to spend a fortune on red wine. It can still taste plenty rich even when you buy it on the cheap. We researched popular wine retailers to find the best cheap red wine, and got some help from Nick Elliott, a winemaking expert based in San Diego. We’ve got some great information about how to select red wine and why prices are what they are. However, if you just want to skip to our list of 13 great reds, we understand. 13 of the Best Cheap Red Wines Under $12 Setting the Table for Red Wine: A Brief Q&A Before we take our first sip, let’s review some common questions that come up when talking about reds. Why Are Some Red Wines So Pricey? Answer: Lots of reasons. Here are some typical factors driving the price of red wines. Red wine is aged, and the longer a bottle sits

I’d like to introduce the concept of Career Seasons to you — which will help you find a job that’s perfect for you in this season of your life . At different points in our lives, we want different kinds of jobs: Growth: When we prioritize learning and earning more — and we’re willing to put in the time Lifestyle: When we want to prioritize our time outside work, such as taking care of family Reinvention: When we want to completely reinvent ourselves, including the role and even industry we work in Without understanding your Career Season, how can you find a job that’s perfectly made for you? Here’s how we discovered this concept. Whenever I ask people what they want from a Dream Job , one of the most striking things about their answers is how DIFFERENT they are. Some examples I’ve received: “I’ve worked part-time for a couple of years whilst my family needed me. Now I’m going back to complete my Master’s and stepping back onto the career ladder full time .” “M