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Articles by Elysse Bell
Can You Really Put Your RMD Back in Your IRA? Here's What You Need to Know
Key Takeaways Required minimum distributions (RMDs) must be taken from traditional IRAs starting at age 73 and are considered taxable income. Failing to take your RMD can result in a 25% excise tax on the amount not withdrawn. Once an RMD is distributed, the funds cannot be rolled back into an IRA. Plan how you'll use your RMD funds, whether you spend on everyday expenses, reinvest the amount, donate it, or use it to help a family member.
What's the Worst That Could Happen If You Don't Take Your RMD?
If you don't withdraw your required minimum distribution (RMD) amount each year by April 1 after you turn 73, you could face a stiff tax penalty from the IRS. "Failing to take an RMD can result in the IRS imposing a 25% excise tax (penalty) on the amount that should have been taken and was not taken," says Christopher Jervis, an Enrolled Agent with over two decades of experience in tax planning, preparation, and representation.
What Happened to Their $900 Million?
In 1913, John D. Rockefeller's fortune peaked at an estimated $900 million (about $29.3 billion in today's dollars). In 2024, the Rockefeller family's estimated net worth was $10.3 billion. What has happened to the money? Family Trusts In 1934, John D. Rockefeller Jr. set up irrevocable trusts for his children and then did the same for his grandchildren in 1952. These trusts allowed the largely tax-free transfer of wealth through the generations.
How Much Will the 2025 Standard Tax Deduction Actually Save You?
The standard tax deduction is a fixed amount that taxpayers can subtract from their income to lower their taxable income. The amount you save will depend on your income and tax bracket. That being said, although the amounts have gone up for 2025, the differences from last year aren’t huge.
How Truth Social Makes Money
Truth Social, an alternative social media platform started by President Donald Trump, makes money from advertising. According to Trump Media & Technology Group (TMTG), the company “aims to safeguard public debate and open dialogue, and to provide a platform for all users to freely express themselves.” After its initial public offering (IPO) in March 2024, TMTG was valued at nearly $8 billion at market close on the first day of public trading.
How Shopify and Shop Pay Make Money
Shopify’s e-commerce platform connects merchants and consumers by allowing the companies to list and sell products and services online. Shopify primarily makes money by selling its plans via subscription models, and through various platform fees. Shopify’s most significant revenue-generating segment is its merchant solution component, which generates more than 73% of its total revenues.
Everything You Need to Know
Corporate business travel involves the movement of individuals representing their organizations for work-related reasons. Whether it’s attending client meetings, industry conferences, or sealing business deals, this practice covers a range of activities essential for professional growth. In the interconnected global business environment, where face-to-face connections matter, corporate business travel plays a central role in sustaining and expanding enterprises across borders.
Home Equity Loan vs. Personal Loan: What’s the Difference?
A home equity loan and a personal loan both offer one-time, lump-sum payments that are required to be paid back in installments over an agreed-upon period of time. However, the main difference is that home equity loans are a specific form of secured loan in which the borrower’s home is used as collateral. Personal loans, on the other hand, can be secured or unsecured by collateral and are a much broader and varied category.
American Industrialist and Founder of Ford Motor Company
Henry Ford was an American inventor and business magnate and the founder of Ford Motor Co. He invented several vehicles, most famously the Model T automobile, and changed the auto industry forever by introducing the moving assembly line to car production.
How to Get a Business Grant as a Person Convicted of a Felony
People who have been convicted of a felony in the United States can own and run a business, but there are challenges in doing so. However, small business grants and loans, as well as other resources that may prove helpful in supporting an entrepreneurial vision, are available for people who were formerly incarcerated and want to start or run a business.
Leverage AI for Efficient Business Planning and Growth Original
Key Takeaways Artificial intelligence (AI) tools can bring greater efficiencies and real insights into your operation, whether you're an experienced business owner or an entrepreneur just getting started. AI is being used to improve the accuracy and efficiency of inventory planning, logistics, financial and sales analysis and forecasting, and project management. Automation of repetitive tasks and processes, such as pulling data for analysis, is another benefit of using AI.
How AI Is Used in Business
Artificial intelligence (AI), or technology that is coded to simulate human intelligence, is having a huge impact on the business world. Now prevalent in many types of software and applications, AI is revolutionizing workflows, business practices, and entire industries by changing the way we work, access information, and analyze data.
How Does Payhip Make Money?
Payhip is an ecommerce platform specifically targeted at digital content creators. It enables users to sell digital downloads, online courses, coaching, memberships, and physical products. It makes money from subscription and transaction fees, which vary by plan. Payhip has a free plan that charges 5% transaction fees on each sale; a mid-tier plan that charges $29 per month with a 2% transaction fee; and a premium plan that charges $99 per month with no transaction fees.
A Comprehensive Guide and Essential Steps
Starting a business in the United States involves a number of different steps spanning legal considerations, market research, creating a business plan, securing funding, and developing a marketing strategy. It also requires decisions about a business’ location, structure, name, taxation, and registration. Here are the key steps involved in starting a business, as well as important aspects of the process for entrepreneurs to consider.
How Small Businesses Can Use AI Tools
Artificial intelligence (AI) tools promise many benefits for small businesses, including increased efficiency, cost savings, better customer service, and growth opportunities. These applications can help a small business owner automate business processes for greater efficiency, and analyze information for better planning. Others can enhance communication with customers. Better yet, some of these tools, like ChatGPT and Google Docs, are free.
Can AI Do Business Taxes? Benefits, Limitations, and Current Uses
Artificial intelligence (AI) technology is making a big impact on businesses in many respects, including the preparation and filing of business taxes. The Internal Revenue Service (IRS)is evaluating AI’s potential applications for tax administration while considering how to minimize any associated risks. The technology promises businesses easier tax prep and filing, while streamlined tax administration could mean shorter customer wait times and more efficient services.
How to Apply for a Minority Business Grant
Minority business grants are a type of funding for minority-owned businesses, usually small ones. Unlike loans, grants do not have to be paid back, although they are generally considered by the Internal Revenue Service (IRS) to be taxable business income. In the United States, minority business grants are available from public and private sources. While the federal government does not provide grant funding for the purpose of starting or growing a business, many private grantors do.
Everything You Need to Know
Search engine optimization (SEO) is the process of improving visibility on a search engine such as Google, Yahoo!, or Bing. SEO is an important aspect of any digital marketing strategy and online presence. For small businesses, improving SEO is a relatively inexpensive and accessible tactic to make information about the business and its offerings easier to find online. This, in turn, can help improve its web traffic and drive more customers to the business.
Why College Athletes Earn Compensation
Key Takeaways Student-athletes have limited means of compensation despite the NCAA’s nearly $1.6 billion revenue. NIL rights allow athletes to profit from their name, image, and likeness. Advocates argue that college athletes should be paid for financial needs and the risk of injury. 67% of Americans support direct compensation for college athletes. NCAA changes have shifted policies on athlete earnings and compensation.12 Should college athletes be able to make money from their sport?
What Every Entrepreneur Needs to Know
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How Much Does a POS System Cost a Business Owner?
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How Truth Social Makes Money
Truth Social, an alternative social media platform started by President Donald Trump, makes money from advertising. According to Trump Media & Technology Group (TMTG), the company “aims to safeguard public debate and open dialogue, and to provide a platform for all users to freely express themselves.”1 After its initial public offering (IPO) in March 2024, TMTG was valued at nearly $8 billion at market close on the first day of public trading.
How AI is Used in Business
Microsoft Cares About Your Privacy Microsoft and our third-party vendors use cookies to store and access information such as unique IDs to deliver, maintain and improve our services and ads. If you agree, MSN and Microsoft Bing will personalise the content and ads that you see. You can select ‘I Accept’ to consent to these uses or click on ‘Manage preferences’ to review your options and exercise your right to object to Legitimate Interest where used.
SEO Essentials Every Small Business Owner Should Know
Search engine optimization (SEO) is the process of improving visibility on a search engine such as Google, Yahoo!, or Bing. SEO is an important aspect of any digital marketing strategy and online presence. For small businesses, improving SEO is a relatively inexpensive and accessible tactic to make information about the business and its offerings easier to find online. This, in turn, can help improve its web traffic and drive more customers to the business.
Everything You Need to Know
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Corporate Business Travel: Everything You Need to Know
Corporate business travel involves the movement of individuals representing their organizations for work-related reasons. Whether it’s attending client meetings, industry conferences, or sealing business deals, this practice covers a range of activities essential for professional growth. In the interconnected global business environment, where face-to-face connections matter, corporate business travel plays a central role in sustaining and expanding enterprises across borders.
What's the Difference?
Although at first glance a business credit card and a corporate credit card may seem to be the same thing, they are two separate products intended for different purposes. Business credit cards tend to be held by small business owners, whereas corporate credit cards can be held by an owner and any number of business employees; however, the latter are usually granted to larger, more established companies. Both can be useful for accessing capital and managing business expenses.
Early Life, Career, Impact, and Nobel Prize
Claudia Goldin is an American economic historian and labor economist, and the third woman to win the Nobel Memorial Prize in Economic Sciences (officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel). She is the first woman to have won the prize solo.
ASML: Pioneering EUV Lithography for Advanced Microchips
Key Takeaways ASML is based in Veldhoven, Netherlands. It produces EUV lithography machines for microchip manufacturing. ASML also offers DUV machines, software, and training. The company faces risks from international trade restrictions. ASML maintains a strong position in the global semiconductor market. Get personalized, AI-powered answers built on 27+ years of trusted expertise. ASML is a leading semiconductor company headquartered in Veldhoven, the Netherlands.
How to Get a Women's Small Business Grant
Eligibility and Application: Your Path to a Small Business Grant Fact checked by Vikki VelasquezReviewed by Samantha Silberstein For women entrepreneurs, women’s small business grants are one potential funding option for starting or growing a business.
How to Apply for a Minority Business Grant
Navigating the application process Fact checked by Vikki VelasquezReviewed by Robert C. Kelly Minority business grants are a type of funding for minority-owned businesses, usually small businesses. Unlike loans, grants do not have to be paid back, although they are generally considered by the IRS to be taxable business income. In the United States, minority business grants are available from both public and private sources.
How to Apply for a Minority Business Grant
Minority business grants are a type of funding for minority-owned businesses, usually small businesses. Unlike loans, grants do not have to be paid back, although they are generally considered by the IRS to be taxable business income. In the United States, minority business grants are available from both public and private sources. While the federal government does not provide grant funding for the purposes of starting or growing a business, many private grantors do.
How Does Payhip Make Money?
Payhip is an e-commerce platform specifically targeted at digital content creators. It enables users to sell digital downloads, online courses, coaching, memberships, and physical products. It makes money from subscription fees and transaction fees, which vary by plan. What Is Payhip? Launched in 2011 and based in London, England, Payhip is an e-commerce platform that specializes in digital services like downloads, online courses, memberships, and coaching.
What Is Artificial General Intelligence (AGI)?
What Is Artificial General Intelligence (AGI)? Artificial general intelligence (AGI) is a branch of theoretical artificial intelligence (AI) research working to develop AI with a human level of cognitive function, including the ability to self-teach. However, not all AI researchers believe that it is even possible to develop an AGI system, and the field is divided on what factors constitute and can accurately measure "intelligence." Other terms for AGI include strong AI, or general AI.
Top LGBTQ+ Financial Influencers to Learn From in 2023
LGBTQ+ financial influencers can offer insights on the unique financial challenges LGBTQ+ people and communities face Fact checked by Vikki VelasquezReviewed by Samantha Silberstein Due to a legacy of discrimination and ongoing legal disparities, LGBTQ+ people have a variety of unique financial needs and challenges.
What Is a No-Doc Business Loan And Is One Right for Your Business?
No-doc business loans are a type of business financing that do not require a lot of paperwork or lead time to secure. The name is a bit misleading, as most loans still require the submission of at least some documentation, however, these types of loans have fewer or less extensive requirements than traditional bank loans.
Calculate Sales Tax: Simple Steps and Real-Life Examples
Sales tax is an extra charge added to the price of a product or service, calculated as a percentage of its retail cost. To figure out the sales tax, you convert the rate to a decimal and multiply it by the item’s price. Tax rates and exemptions vary by state. For online purchases, sales tax may apply depending on whether the seller has a nexus, or business presence, in your state. For instance, if an item costs $50 and the sales tax rate is 6%, the tax would be $3, making the total cost $53.
Organized Retail Crime (ORC) Definition
What is Organized Retail Crime (ORC)? Organized retail crime (ORC), also referred to as organized retail theft (ORT) or professional shoplifting, involves two or more people who conspire to steal retail merchandise with the intention of reselling the items at a profit.
Top Finance Tips for New Grads
Transitioning from school to the working world can seem daunting enough without having to think about all of the other responsibilities that come along with it. But don’t stress—here are our top tips for managing your finances after graduation. Take some time to understand your money personality and patterns in order to anticipate your spending and figure out how to save. Make and stick to a budget so that you aren’t caught by surprise with a lack of funds at the end of the month.
Hire a Pro: Compare Financial Advisors In Your Area Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is legally bound to act in your best interests. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
Hire a Pro: Compare Financial Advisors In Your Area Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is legally bound to act in your best interests. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
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