TessMore Finance Blog

President Biden signed an omnibus budget bill in December 2022, which included bipartisan legislation helping to make it easier for people to save for retirement. The SECURE (Setting Every Community Up for Retirement Enhancement) 2.0 Act builds on the previous SECURE Act law, which was passed in 2019. While not all of the changes in the SECURE 2.0 Act might affect you, it’s important to be aware of the changes. Here’s a quick look at some of the biggest updates. Changes to Required Minimum Distributions (RMDs) Many retirement accounts have Required Minimum Distributions (RMDs). The two most common types of accounts subject to RMDs are 401(k) and IRA accounts. The IRS wants to make sure that the money in these retirement accounts is withdrawn and spent (and therefore taxed). The SECURE 2.0 Act increases the age at which you are required to start taking withdrawals from your IRA or 401(k) plan. Prior to January 1, 2023, account holders needed to start taking RMDs at age 72, but as of t

Bingo games that pay cash are a fun way to make a little extra money, as each match is fast-paced and easy to learn. At the same time, bingo apps offer boosters that can help you gain an edge on the competition by daubing squares before they are called and earning bonus points. Bingo Cash offers an engaging gaming experience with free practice rounds and cash tournaments. Another notable feature is that the top three scores share the prize pool, making winning money easier. Our Bingo Cash review looks closely at how you can win money and have fun. Table of Contents What Is Bingo Cash? Who Can Play Bingo Cash? Bingo Cash Pricing How Does Bingo Cash Work? Gameplay Scoring Boosters Match Types Daily Rewards Cash Redemptions No Ads Bingo Cash Pros and Cons Pros Cons Is Bingo Cash Worth It? Bingo Cash Alternatives Blackout Bingo Bingo Clash Solitaire Cash Pool Payday Bingo Cash FAQs Final Thoughts on Bingo Cash What Is Bingo Cash? Bingo Cash is a hi

L ooking for a place to stash your personal or business cash savings? I spend a lot of time discussing the need to have your money in a high-interest or high-yield savings account. I thought it was about time I put together a list of the best high-yield savings accounts with a focus on small business owners like me.       $200 Bonus     SaveBetter UFB Direct CIT Bank SoFi Bank Live Oak Bank Ally Bank 4.23% 4.11% 4.05% 3.75% 3.50% 3.30% Go to site Go to site Go to site Go to site Go to site Go to site SaveBetter 4.23% Go to site UFB Direct 4.11% Go to site CIT Bank 4.05% Go to site $200 Bonus SoFi Bank 3.75% Go to site Live Oak Bank 3.50%

I make thousands in passive income from this blog each month. And I had no initial funds to spend on this blog when I got started. I just started with the free tools available to me. Are you looking for how to generate passive income with no initial funds? You’re in luck because there are plenty of options out there – not just blogging. Here are five creative ways you can generate passive income without investing any money upfront. How to Generate Passive Income with No Initial Funds Let’s dig into each of these ideas so you can start making that push to passive income. 1. Rent Your Stuff You likely have quite a few possessions that you rarely use, from a spare room to evening gowns, sports gear, or even an automobile that you only drive occasionally. Why not make the most of them by renting them out and generating some extra income? With no fuss and minimal effort, making money with your items is an easy way to earn part-time money without taking up too much of your time.

You’ve likely heard the stories about the IRS being notified when you deposit a large amount of cash. But what happens when you deposit over $10,000? Who is responsible for reporting large deposits? And what will the IRS do if you deposit large amounts of cash? We answer these questions and more in this article.  Table of Contents How Much Cash Can You Deposit Without Being Reported to the IRS? Do Banks Report Smaller Cash Deposits? Who Has to Report Large Cash Deposits? Why Does the IRS Require Reporting of Large Cash Deposits? What Is the Penalty for Not Reporting Large Cash Deposits? What Is the Penalty for Splitting Up Large Cash Deposits? FAQs Final Thoughts How Much Cash Can You Deposit Without Being Reported to the IRS? The answer to that question is a tricky one. The Internal Revenue Service (IRS) requires that financial institutions report all individual or business deposits over $10,000. That means you can deposit up to $10,000 without your bank reporting i

A s a self-employed business owner, you may be looking for the right kind of plan to save for retirement . But it is easy to become overwhelmed about which is best for your situation or company. The SEP IRA may be one of the most effortless accounts for self-employed individuals to set up and keep going. It may also be one of the less costly plans for business owners. It certainly requires much less time spent on paperwork than a traditional 401k account. I know. I’ve had both. A SEP IRA account has many advantages over other retirement accounts, but only after carefully considering the pros and cons against other types of retirement accounts should you decide. If you are an employee of a small business or self-employed, you can enroll in this account. Only the employer will make contributions to the account. What is a SEP IRA? The SEP in the SEP IRA stands for ‘Simplified Employee Pension.’ This account is essentially like a traditional IRA account but allows for much higher

T oday I will explain how to build a CD ladder (i.e. certificate of deposit ladder) to create some passive income. In short, a CD ladder is a group of CDs you might invest in that are set to expire at successive dates. Cash from an expiring CD is used to reinvest in another CD one period older than the oldest CD currently in the ladder. The CD Laddering Strategy Explained Okay, here’s how you build a CD ladder. You’ll first need to determine what type of ladder you’ll want. Does this ladder have big rungs (yearly) or many smaller rungs (monthly)? If the maximum you can bear is without all your funds in 1 year, then a monthly ladder is right for you. If this money is just extra savings you don’t mind waiting five years on, you can do the yearly ladder. This may be a good option for ultra-risk-averse people who don’t want to be in the turbulent stock market. For our example, let’s say you select yearly. It’s the quickest to set up, anyway. Do some research and find the highest