As the U.S. housing market rebounds from a pandemic-related slowdown, there is still evidence of housing discrimination that continues to limit homeownership and rental opportunities for consumers of color and other marginalized groups. It’s necessary to take stock of how far housing policy has gone to outlaw discriminatory practices, and what work remains to be finished. What is housing discrimination? The Fair Housing Act of 1968 explained What is redlining in real estate? 3 ways to strengthen U.S. housing discrimination laws What is housing discrimination? Housing discrimination is any prejudiced actions against a consumer who is buying a home , renting a home or attempting to participate in other housing-related endeavors. Discrimination can be based on the following characteristics: Color or race Disability Familial status Nationality Religion Sex People who identify as LGBTQ aren’t explicitly protected by federal law from housing discrimination. However, several states have...
We’ve all felt the impact of COVID-19 on our personal lives, both financially and emotionally. But for small business owners, the pandemic packs an extra punch. According to a survey performed by the National Federation of Independent Business , about half of small business owners said they’d be unable to continue operations for more than two months without help. Impacted entrepreneurs are experiencing slower sales, supply chain disruptions and, of course, concerns about employees contracting the illness — and that’s all on top of figuring out how to keep their doors open. Fortunately, there are steps small business owners can take to help their companies come out of this quarantine on the right side of the proverbial dirt. Just as you use masks and hand sanitizer to help you survive the pandemic personally, here are some tools to help your business make it out alive, too. 1. Apply for emergency funding The coronavirus has led to unprecedented economic pressures — which is part of...
The coronavirus pandemic has crashed the U.S. economy and brought certain industries to a near standstill — including retail, entertainment, food and accommodations. Cities that have traditionally relied on these sectors to employ their citizens may be particularly vulnerable. A new LendingTree study ranks the 100 U.S. metro areas with the most retail establishments to see which ones stand to feel the biggest pinch. Researchers found that mid-sized cities are at greatest risk. Six of the top 10 cities are in the Sunbelt. Key findings Myrtle Beach, S.C. , has the highest concentration — 35.4% — of local businesses in the retail , entertainment, and food and accommodations sectors (the U.S. Census Bureau groups food services and accommodations as one sector). Salisbury, Md., is in second place . Nearly one-third of all businesses here (32.3%) are in one of the affected industries. Scranton, Pa., comes in third with 28.8% of establishments in vulnerable industries . Larger cities...
Small business owners are anxiously waiting to see if Congress will inject more money into the Paycheck Protection Program (PPP), the federal rescue program that failed to reach the vast majority of small businesses it was intended to help the first time around. A new LendingTree survey found that just 5% of business owners have received a PPP loan, though 60% had applied for funding. Survey respondents were eager to submit their applications once the program opened, but many struggled to communicate with bankers as the entrepreneurs’ financial situations further deteriorated — and then the $349 billion emergency funding ran out of funds after 13 days. Many of the 1,260 small business owners surveyed expressed their frustrations. “I’ve kept my employees on payroll even though we closed because it is the right thing to do,” one respondent said. “Unemployment in our state is only $275 per month. They can’t live on that. Now, I’m in limbo waiting for the PPP money. I have no idea when,...
Have your finances been rocked by the coronavirus? Your credit card issuer might be willing to offer a helping hand, but you’ll likely have to ask for it. As America and the rest of the world wrestle with the COVID-19 pandemic, more daily lives are being upended. Lockdowns, self-quarantines and other drastic measures to stop the spread of the virus are becoming more common here in the U.S., leading to missed paychecks and unpaid time off from work and other hardships. For many Americans, whose financial margin for error is tiny even in the best of economic times, these disruptions can be a really big deal. They can make it hard to pay your mortgage, car loan or credit card bill, for example. The good news is that these disruptions will likely only be temporary, but that doesn’t make things any easier in the short term. Fortunately, you can take steps right now to help your situation: the simplest step is to call your credit card issuer and ask for help. Many credit card issuers have...
Work-from-home side jobs that can earn you more than $15 an hour include transcribing audio and video or instructing an online course. The income from online side jobs can help you reach financial goals like paying off student loans faster, and with a broad selection of side hustles available, you’re likely to find one that’s a good match for your needs. 4 work-from-home online side jobs that can pay $15-plus an hour Taking on a second job online can be an effective way to boost your cash flow , but side gigs are known for their variable pay. While the following online side jobs often pay more than $15 an hour, there’s no guarantee because of variations such as location and time spent. 1. Audio and video transcriber 2. Online course instructor 3. Social media marketer 4. Virtual assistant 1. Audio and video transcriber If you have a few extra hours on weekends or an extra hour a day, you could generate income by transcribing audio and video recordings. Kollin Lephart, founder and...
Franchise taxes aren’t taxes on franchise businesses, as you may assume from the name. Instead, states require certain entities, such as corporations or limited liability companies, to pay a tax for the privilege of doing business there. Franchise taxes are separate from state income tax that’s imposed on businesses. Continue reading to find out if your business owes franchise tax and what consequences you may face if you don’t pay. What is franchise tax? Who has to pay franchise tax? How to calculate franchise taxes Consequences of not paying franchise taxes The final word on franchise tax What is franchise tax? Several states levy a tax on companies for doing business in the state. That tax is often called a franchise tax, but it could also be known as a capital stock tax, commercial activity tax or another name. Dan De Jong, senior tax manager for KPMG, likens state franchise taxes to pizza restaurants . Every pizzeria owner puts their own spin on their pizza recipe, but they all...
