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Learn how to solve the most common problems of rural homesteaders and the working poor with rural money resources, solutions, and creative finance ideas.
If you’re struggling to find financial assistance during COVID-19, these organizations and programs can provide relief.
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Is Your Cancelled Debt Taxable, Or Not? If you borrow money and legally obligated to repay a fixed or determinable amount at a future date, you have a debt; but there is a debt cancellation law. According to the IRS, you may be personally liable for a debt or may own a property that’s subject to a debt. If your debt is forgiven or discharged for less than the full amount you owe, the debt is considered canceled in the amount that you don’t have to pay. The law provides several exceptions, however, in which the amount you don’t have to pay isn’t canceled debt. These exceptions will be discussed later. Cancellation of a debt may occur if the creditor can’t collect, or gives up on collecting, the amount you’re obligated to pay. If you own property subject to a debt, cancellation of the debt also may occur because of…
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Don’t Be Too Hasty In Selling Your Tiffany Jewelry Low The French luxury conglomerate LVMH buys Tiffany and is betting it can restore shine to the faded American jeweller and boost its jewellery division. PARIS, France — Luxury giant LVMH MoĂ«t Hennessy Louis Vuitton SE has reached a $16.2 billion deal to buy American jeweller Tiffany & Co. The two companies announced Monday that they had entered an agreement for LVMH to acquire Tiffany for $135 a share — a multi-billion dollar bet that LVMH can restore Tiffany’s faded shine. In a call Monday, LVMH Chief Financial Officer Jean-Jacques Guiony described the deal as a “game-changer” for the conglomerate’s watches and jewellery segment, batting away concerns over Tiffany’s near-term performance. “We strongly believe that LVMH is not only an ideal owner for Tiffany but also that this iconic brand is a perfect addition to our portfolio and perfect complement to our existing model,” Guiony…
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The First And Only African-American Barbershop In The Nation’s Busiest Airport Meet Roosevelt Gilbert, Master Barber and entrepreneur, the only and first Black-owned barbershop inside Atlanta’s International Airport. It’s called The Barber Shop Atlanta, and it’s presence inside the country’s busiest airport is truly historic. The airport, which serves more than 100 million passengers every year, has been attempting to open a Black-owned hair salon or barbershop since 2009. The plan, however, never seemed to work out for other operators until Gilbert’s shop was chosen from four other applicants who applied in 2014. “I’m just glad to be open,” Gilbert told the Atlanta Journal Constitution. “We had to go through a lot.” But after more than 5 years of complicated planning and construction, The Barber Shop Atlanta has finally opened. It is located in the North Terminal Atrium, Level 2 near the TGI Fridays restaurant. The shop is open 17 hours…
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Anyone With Medicare Can Get Extra Help With Medicare Prescription Drug Coverage Some people with limited resources and income also are eligible for Extra Help to pay for the costs such as monthly premiums, annual deductibles, and prescription co-payments related to a Medicare prescription drug plan. The Extra Help is estimated to be worth an average of $3,900 per year. Many people qualify for these big savings and don’t even know it. To find out if you qualify, Social Security will need to know the value of your savings, investments, and Real Estate (other than your home), and your income. If you are married and living with your spouse, they will need information about both of you. To help Social Security determine if you are eligible for the Extra Help, you will need to file an Application for Extra Help with Medicare Prescription Drug Plan Costs (Form SSA-1020). Note: Â Beginning…
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Black Business Success Stories: Video Press Releases Kristi L. Jackson is the co-owner of one of very few Black-owned trucking companies based in Houston, Texas. It’s called October Fourth Holdings LLC. As a Black woman that owns a trucking company, Kristi is making history and further solidifying what many federal statistics have already confirmed. Black women currently represent the most successful demographic of entrepreneurs in the United States. Kristi is originally from Alexandria, Louisiana but now resides in Houston, Texas where she runs her company. She is also the founder of the Woman CEO Project, a global think tank and business development company built specifically for women entrepreneurs. This organization hosts over 40 business courses every year. Kristi says she has either consulted with and/or is affiliated with consult or be affiliated with major companies including: JP Morgan & Chase Wells Fargo IBM Apple Google Microsoft Capital One The White House…
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The Euro Is Dropping Against The Dollar Like Crazy The Dow Jones celebrates as dollar rallies again to close out the week as the good times continue to roll for stock market bulls. Buoyed by a firmer performance from the Dow’s most heavily weighted stock, Boeing (NYSE: BA), investors are enjoying the company’s restructuring after an ineffective response to the 737 MAX crisis. Looking ahead to 2020, analysts are forecasting a rally in the Euro which could be tremendous news for the Dow 30 if the mighty U.S. dollar was to finally start weakening and spark a flurry of investment in the U.S., as well as making its exports more attractive. Dow Jones Grinds Higher As Holiday Rally Continues Among the three major U.S. stock market indices, the Dow Jones was the top-performing as the S&P 500 could only manage a slight rally, and the Nasdaq slipped. Stocks rose on…
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Important Information From Social Security About Your Benefits Social Security earnings limit for 2020 have been published; if you are at full retirement age (now age 66)…, you may keep all of your benefits. What they actually stated is:Â “If you are at full retirement age (now age 66) or older for all of 2020, you may keep all of your benefits no matter how much you earn.” Further, if you are younger than full retirement age at any time in 2020, there is a limit to how much you can earn before we reduce your benefits. Continuing to work could result in withholding some of your benefits. However, we would adjust your benefit amount once you reach full retirement age to account for the months of withheld benefits. Also, we use your 35 highest years of earnings to calculate your benefits. If you continue to work and these earnings…
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Hardest Hit Fund: States Helping Unemployed And Financially Distressed Borrowers This rural money hardest hit fund post has been announcing since 2016 an additional $2 billion was allocated to participating Hardest Hit Fund (HHF) states. The HHF states continue to help with foreclosure prevention. Yet, many homeowners still aren’t aware of this program. The housing crisis that began in 2007 led to unprecedented home price declines, and sustained and higher unemployment in certain parts of the country. Families in these areas have been particularly hard hit by this crisis. They have struggled to make their monthly mortgage payments and grappled with deeply underwater mortgages. While the housing market has strengthened in recent years, there is still an ongoing need to continue to assist homeowners and neighborhoods that continue to experience the negative effects of the financial crisis. President Obama established the Hardest Hit Fund in February 2010 to provide targeted aid…
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Discover The Top 3 Black Owned Organic Hemp Business Models You Can Start Today It’s not often that an emerging industry arises, which is why Cory Holmes decided to launch his Black owned organic hemp business, Holmes Organics. The Farm Bill of 2018 brought with it the legalization of hemp-derived CBD. CBD is a powerful plant extract that has been used for medicinal purposes for thousands of years, not to be confused with the plant used to produce marijuana. It’s a product with all the medicinal benefits of marijuana, and zero risk of getting high—making CBD legal in all 50 states. “I grew up in poor neighborhoods with gun violence, having stress and anxiety as a part of my daily life,” said Holmes. “In college, I suffered from a few football concussions. In 2017, I was randomly shot at while driving—and the PTSD didn’t set in until about a year…
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Hill-Burton Was Just Fine Before Obamacare If you are a family of 4 with an income of $18,100 or less, you qualify for free hospital care from Hill-Burton Federal Program or reduced-cost care. That’s because in 1946, Congress passed the Hill-Burton Law, which gives hospitals and other health facilities money for construction and modernization. In return, the facilities that receive these funds have to: Provide a reasonable volume of services to persons unable to pay. Make their services available to all persons residing in the facility’s area. Many hospitals, nursing homes, and free clinics operate under this act, and must give health care to people who can’t afford it. These Hill-Burton assisted facilities must post a sign that says, “NOTICE: Medical Care for Those Who Cannot Afford to Pay” in the health facility’s Admission Office, Business Office and Emergency Room. Who Can Get Hill-Burton Hospital Assistance? You may qualify if…
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So Effective The Government Patented It: Revolutionary Hemp Is U.S. Approved When there is a really huge medical breakthrough like hemp, the U.S. Government often comes in and takes it over for the U.S. citizens best interest. And, that’s what’s recently happened. As amazing as it sounds, hemp has now been clinically proven to help reverse—not simply mask every single ache and pain in your body–even those caused by long term medical problems. What does this mean to you? Hemp Is Not Pot It Comes From A Very Different Plant Although marijuana and hemp come from the same plant species, Cannabis Sativa, their legal status and effects on the body a re very different. Hemp: Legal in All 50 States Cannot Get You High Bursting with Pain-Fighting Compounds Used Medicinally for Pain Associated with Arthritis, Sore Muscles and Joints Marijuana: Illegal in Most States Gets You High Recreational And more……
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