If you're self-employed or have a small business, the idea of a 401(k) may make you jump to two conclusions: “My company is too small” or “I can’t afford it.” Well, you’re not too small and you can afford it!
A Solo 401(k) is inexpensive to set up and easy to maintain – and it delivers substantial tax and saving advantages. Use a Solo 401(k) plan if you’re self-employed or run an owner-only business. You could add multiple owners and a spouse to a Solo 401(k) plan, but if you add full-time employees you’ll need to convert it to a more traditional IRA plan.
Regulators issued new mortgage rules last week designed to prevent a return to lending practices that helped crater the housing market and brought the financial system to its knees during the past decade.
A tax break that has long been untouchable could soon be in for some serious scrutiny. Many home buyers deduct their mortgage interest when assessing their tax bill, a perk that has helped bolster the income of millions of families – and the broader housing market. But as President Obama and Congress try to hash out a deal to reduce the budget deficit, the mortgage interest deduction will likely be part of the discussion.
Home prices rose by 0.1% in September from the prior month and by 3.6% from one year ago, the largest gain in six years, according to a report released Monday by Lender Processing Services.