How To File The Form 5500-EZ For Your Solo 401k in 2023

How To File A Form 5500EZApril 15 may have come and gone, but if you are the plan administrator for a Solo 401k or any other ERISA retirement benefit plan, there is another IRS deadline that you need to pay attention to. Neglecting to file a Form 5500 or filing one late can result in costly penalties.

The major benefit of opening a Solo 401k is the ability to contribute more than all the other tax-deductible retirement accounts available to a self-employed individual. The one “downside” you may have seen mentioned when opening a Solo 401k is the “additional paperwork” that is involved if you are acting as your own plan administrator. This additional paperwork is the yearly filing of the Form 5500 once your Solo 401k account reaches a certain size.

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Rideshare Insurance: What You Need to Know Before Driving

Uber and Lyft Rideshare InsuranceAre you thinking of making some extra money moonlighting as a rideshare driver in your spare time for Uber, Lyft, or any of the other rideshare, ride-hailing, or transportation network companies? Before you download the app and hop in your car to go speeding off to pick up passengers, there is an important first step you need to consider first.

I’m talking about auto insurance, more specifically, a rideshare insurance policy.

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DIY: Steelcase Player Chair Reupholstery Project

DIY Reupholstering ProjectA relative is currently venturing into starting their own business. One of the things that every office needs is furniture. Normally you can find used office furniture such as desks, bookcases, and file cabinets on Craigslist for amazing bargains and in some instances, even for free. In his case, he needed guest chairs for the waiting room. And he needed a lot of them and they needed to match.

Read about how we bought 24-year-old chairs, reupholstered them ourselves, and saved hundreds over buying new chairs, and thousands over paying someone else to do it.

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My car just hit 100,000 miles. Should I replace it with something new?

100,000 Miles OdometerThere is something about all those zeros appearing on the odometer that makes people think their car is going to blow up on them in any moment. Even my own mother is guilty of this, recently mentioning during dinner that their Toyota Corolla has almost 100,000 on it and it was becoming less reliable. A Toyota, of all cars! This came up because that little check engine light popped on when she was driving it one day and she immediately turned around and went back home.

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The Biggest Savings on Allergy Relief Medications for Spring 2023

Savings on Allergy ReliefAfter a cold and snowy winter in many parts of the country, temperatures are starting to warm up. The days are already longer with the extra hour of daylight from daylight savings. The arrival of spring also brings with it a familiar sight of cars and everything else covered in a layer of yellow pollen.

When everyone else is looking forward to spending more time outside enjoying the warmer days and blossoming flowers, for those of us with allergies spring means seemingly endless suffering from runny noses, congestion, sneezing, and itchy, watery eyes. It is during this time of the year that stores see their stocks of allergy medication go flying off the shelves.

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A Million Dollar Bet On How Index Funds Are Better Than Hedge Funds

Million Dollar Bet Against Hedge FundsFor most people, professionally managed investing means buying mutual funds. For the wealthy, this may mean getting access to hedge funds, the exclusive investment vehicle available only to qualified investors. For outsiders looking in, hedge funds are how the rich get richer.

In 2005, what is possibly the greatest investor of all time, Warren Buffett offered to make a $1,000,000 bet with anyone that over ten years, a boring; low cost; passively managed S&P 500 index fund will outperform any collection of hedge funds. This is what happened.

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Save and Even Profit From the Toys R Us Closing Sale

Toys R Us Closing SaleRIP Toys R Us and Geoffrey the Giraffe. After 70 years, Toys R Us along with Babies R Us are going out of business and closing their doors for the last time.

The popular toy store, which was part of many of our childhoods growing up, has announced that they will be shutting down or selling off their 735 stores. The massive liquidation sales began on Friday, March 23 and are expected to run through June.

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How To Cancel A Chase Credit Card

Cancel Chase Credit CardJPMorgan Chase is the second largest card issuer of credit cards in the U.S. with over 80 million cardholders and $131 billion in outstanding credit card loans. In recent years, the Chase Sapphire Preferred and Reserved cards have been extremely popular with bonus points chasers and many card-enthusiasts thanks to 2x and 3x points on travel and dining and no foreign transaction fees. Those cards however have an annual fee, which in the case of the Chase Sapphire Reserved is a hefty $450.

If you have a Chase credit card and want to lighten the load on your wallet, both literally and figuratively with the Sapphire cards, follow these instructions on how to cancel your card online, by phone, or mail.

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How To Cancel A Capital One Credit Card

Cancel Capital One CardCapital One is the third largest credit card issuer in the United States so when their commercials ask “What’s In Your Wallet”, if you don’t have a Chase or Citi credit card, you probably have a Capital One.

I have their Quicksilver rewards card, which was a decent 1.5% cashback card at the time until it was surpassed by Citi’s Double Cash card. What makes Capital One’s cards still worth keeping even now though is their no foreign transaction fees if you travel internationally. But what if you have better rewards cards you’d rather carry in your wallet and you want to cancel your Capital One credit card.

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How To Cancel A Citi Credit Card

Cancel Citi CardAre you thinking of closing a Citi credit card? Maybe you’ve taken advantage of some of the lucrative American Airline bonus miles that Citi was offering with the Aavantage Executive card and now you are facing a big annual fee for the next year. Or maybe you have too many cards in your wallet that your back is starting to hurt and you want to lighten the load.

Whatever your reason is for deciding to cancel your card, it does not have to be a hassle.

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