6 Bankrupt Celebrities Who Went From Rich to Broke
Making millions of dollars or having celebrity status doesn’t do much to deter bankruptcy. Between 2008 and 2009, bankruptcy filings for those with more than $1 million in assets increased by 73%, and “Sports Illustrated” says that 78% of former NFL players go bankrupt within two years of retirement. Even some lottery winners go bankrupt after winning hundreds of millions of dollars. But how is it possible that so many millionaires find themselves in bankruptcy court, scrambling to protect what little they have left? The answer may be in their stories.
Taxes When Selling a House
By William Perez. Tax Planning: U. S. Expert William Perez has worked as a tax professional since 2004. He earned the enrolled agent designation by passing a comprehensive examination on federal taxes and maintains his credential by taking continuing education classes. Generally, taxpayers can exclude up to $250,000 in capital gains when selling their primary residence. (The exclusion is $500,000 if you are married and filing a joint return. ) But not everyone knows about this special tax treatment, which is known as the Section 121 exclusion.
Bunn coffee filters where to buy
Share this article Cleaning a Bunn commercial coffee maker is a very simple process, and depending on how hard your water is, this should be done at least every three months. If you live in a hard water area then it may need to be done more often. Compare commercial coffee makers at Expert Market. All you need is one quart white vinegar. This should be poured into a measuring pitcher. Slide the brew funnel into the machine and place the empty glass carafe onto the base plate. Open the lid of the coffee maker and pour the vinegar into the reservoir.
Annuities what are they
About Alamy Annuities are among the most controversial products in the investment world, with proponents and critics fiercely disagreeing about their benefits and limitations. Yet annuities are just another tool that investors have for financial planning. Let's look at five of the most common types of annuities and the features and potential pitfalls they offer to investors. 1. Fixed Annuities As their name suggests, fixed annuities offer investors a fixed interest rate on their investment for a certain period, making them closely resemble bank certificates of deposit.
How To Make A Budget
What is the best way to start a budget? The first thing that anyone who wants to make a budget must do is to compare their income versus their expenses. The good news is that it is quite easy to do. To get started you can download this free Excel budgeting spreadsheet (or you can look through 10 other budgeting spreadsheets ) which will help you calculate how much you spend each month and compare it to your current income. It’s too bad most of us never learned this in school and had to figure it out on our own – so here is the lesson that we should have learned in 5th grade: Expenses > Income = Bad & Expenses < Income = Good And honestly, as simple as it sounds, that is the key to wealth.
Variable Annuities – What They are and How They Work
A variable annuity is radically different from a fixed or indexed annuity. There is more risk, and there is more potential upside as well. Here are some of the features of variable annuities: Variable annuities are sold through financial advisers and stock brokers. They are not sold by insurance agents. You can lose money with a variable annuity and there is no guarantee that you will make money. In fact you could even lose your principal investment. A variable annuity has lots of investment choices, you can allocate your money between as many as 40 investment choices (such as high growth stocks, value stocks, and corporate bonds).
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5 000 loan
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Who gets paid first in a business bankruptcy?
Federal rules regulate the order in which creditors receive payment when a company is liquidated through a business bankruptcy. That order is generally based on who assumed the most risk when issuing money to the company. How Are Debt Payments Prioritized During a Business Bankruptcy? First priority for debt repayment usually goes to persons who become creditors after the company files for bankruptcy. The purpose of this rule is to enable the company to borrow if necessary to continue its operations and/or to effectively wind down its affairs.
Reasons to File for Chapter 7 Bankruptcy Instead of Chapter 13
When given the choice, many debtors prefer filing Chapter 7 bankruptcy because it discharges most debt. However, a debtor must qualify by meeting an income limitation. A qualified debtor may have debt discharged in exchange for giving up valuable nonexempt property for the trustee to sell to pay creditors. Even though the debtor will lose some property, there are several advantages of filing Chapter 7 bankruptcy over Chapter 13 bankruptcy. The Advantages of Chapter 7 Bankruptcy The debtor receives a "fresh start. " The goal of Chapter 7 bankruptcy is to give the debtor a new start.