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Becoming a master of your finances takes dedication and discipline. Financial knowledge is power-choose to learn more about how you can improve your financial health, or reach out to a financial specialist today!

What Is a Sinking Fund?
https://financialhotspot.com/2021/10/27/what-is-a-sinking-fund-and-how-can-it-help-your-finances/

What Is a Sinking Fund and How Can It Help Your Finances? | www.financialhotspot.com A sinking fund is money saved up or set aside for a specified use at a stipulated time. You can establish a sinking fund by saving a bit of your income each month, completely separate from your savings account or emergency fund. Sinking funds are an effective way to save and pay for large expenses

Banks offer a variety of accommodations to best serve their clients' financial needs. Online banking is a common and convenient way to check on your finances. Learn more about the best online banks from this years report, and choose a bank that suits you best! https://www.investopedia.com/best-online-banks-5190371

Best Online Banks of 2022 We reviewed and compared minimum deposits, APY, fees, features, and services from the best online banks. This list will help you find an online bank to fit your needs.

A share of common stock represents ownership in a legally formed corporation. For most companies, there is a single class of stock that represents the entire company. Owners of common stock are entitled to their proportionate share of a company's earnings, if any, some of which may be distributed as cash dividends.

A hedge fund is a pooled investment structure created by a money manager or registered investment advisor and is designed to make a return. This pooled structure is often organized as either a limited partnership or a limited liability company.

Asset allocation is an approach for managing capital that involves setting parameters for different asset classes, such as equities (e.g., ownership or stocks), fixed-income (e.g., bonds), real estate, cash, or commodities such a silver or gold.

A stock broker/brokerage is an institution or individual that executes buy-or-sell orders on behalf of a customer. Stockbrokers settle trades and make sure that cash or security gets to the right party by a certain deadline against their client's custody account.

Bonds are essentially loans made to large organizations. These debt securities include corporations, cities, and national governments. The bond issuer agrees to re-pay the amount over a set period of time through interest based on the bond's coupon rate. The maturity date is when the bond becomes fully reimbursed by the issuer.

How to Create an Effective Budget for Your Business https://financialhotspot.com/2021/10/20/how-to-create-an-effective-budget-for-your-business/

How to Create an Effective Budget for Your Business | www.financialhotspot.com First-time business owners have to figure out several aspects of launching and running a business, and chief among them is creating a budget. The budgeting process can be intimidating for startups, especially if you aren't familiar with business terminology and how to gather accurate financial infor...

Tangible property, such as land or buildings, can be used by the owner in exchange for payment. This can increase your monthly income by providing you with constant cash flow from your real estate investment.

There are a plethora of ways to invest your money, such as stocks, bonds, and property. Having a clear understanding of investment options allows you to make the best decisions for growing your money. Read through these six most commonly used investment terms to learn more!

We have a flair for numbers!

Business growth – we account for that!

How Does Cryptocurrency Impact Your Taxes? https://financialhotspot.com/2021/10/13/how-does-cryptocurrency-impact-your-taxes/

How Does Cryptocurrency Impact Your Taxes? | www.financialhotspot.com Recent periods have been a busy time for cryptocurrencies, even amidst the global pandemic. Bitcoin, which is the largest cryptocurrency as per the market value, initially skyrocketed before fluctuating widely towards the end of 2020 and the start of 2021. Other cryptocurrencies, such as Tether, Eth...

The assistance of a bookkeeper is invaluable to your business. Let us help you manage your books so you can focus on managing your business!

We do the books while you do the business.

A mutual fund is a type of financial tool made up from a pool of money collected by many investors to invest in securities such as stocks, bonds, money market instruments, and other assets. They are operated by professional money managers, who work to produce capital gains for the fund’s investors by allocating the fund’s assets.

The stock market investment process is best described as a journey. One of the most important steps in this journey is to keep investing money in the market.

The Top Signs You Should Hire a Bookkeeper https://financialhotspot.com/2021/10/06/the-top-signs-you-should-hire-a-bookkeeper/

The Top Signs You Should Hire a Bookkeeper | www.financialhotspot.com When you first launch a business, hiring a bookkeeper might seem like an unnecessary expense. You may feel confident in your bookkeeping skills and opt to do it yourself. But as your business grows and you hire a few extra employees, spending more time doing the books can easily overwhelm you and di...

Traditional and Roth IRA contribution limits for the 2021 and 2022 tax years are the same, but there are restrictions that can affect how much you may be able to contribute and deduct on your tax return. Schedule an appointment with us to discuss your investment options today! https://www.investopedia.com/retirement/ira-contribution-limits/

Roth and Traditional IRA Contribution Limits for 2021 and 2022 The limits for contributions and income thresholds for individual retirement accounts are out for 2021 and 2022.

With the addition of virtual currency to the global market in recent years, there are a lot of questions on how they are treated as property of federal income tax purposes. Fortunately, the IRS provides a list of frequently asked questions for taxpayers who hold virtual currency – check it out below and contact us for your individual cryptocurrency needs: https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions

Frequently Asked Questions on Virtual Currency Transactions | Internal Revenue Service Frequently asked questions and answers about Virtual Currency transactions.

A solid retirement plan can address many of the concerns associated with long-term security. Here are some highlights of things to know about saving for retirement and the importance of starting early. https://www.investopedia.com/3-things-to-know-about-saving-for-retirement-and-why-it-s-never-too-early-to-start-5223838

3 Things to Know About Saving for Retirement—and Why It’s Never Too Early to Start A comfortable retirement is a big priority for Americans and one that’s becoming even more important with life expectancy on the rise.

Is a gift letter useful when you buy a home? How do you use one? Find out here! https://www.investopedia.com/how-to-use-gift-letter-5220664

What Is a Gift Letter and How Do You Use It? A gift letter is a piece of legal, written correspondence explicitly stating that money received isn't expected to be repaid.

What are the Most Important Elements of a Solid Business Plan
https://financialhotspot.com/2021/09/29/what-are-the-most-important-elements-of-a-solid-business-plan/

What Are the Most Important Elements of a Solid Business Plan? | www.financialhotspot.com Planning is essential before you start any business. It gives you a blueprint for where the company should be in the coming years and the strategy to reach that level. What's incredible about planning is that it will also illuminate all the potential issues you are bound to encounter. While several....

If you are planning to buy a home, the first step is to figure out how to save for a downpayment. Most lenders will require as much money you can put down. So how do you even begin? These tips can help. https://www.fool.com/the-ascent/mortgages/how-save-down-payment-house/

How to Save for a Down Payment on a House If you're looking to buy a house but don't quite have the down payment you'd like to yet, here's how to save for a down payment.