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Understanding the pros and cons of refunds and bills

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taxes, Black people


It’s tax season at my busy business in Kansas City, Missouri and across the country. For me and my team, this often means long days and longer nights. The looming query every customer desires to know is: “Will I get my a refund or will I owe Uncle Sam?

Many people consider that the goal is to get a refund. However, in the event you check with any respected financial planning expert, they may let you know that borrowing money for a yr without earning interest is a nasty investment strategy.

This is actually what taxpayers do after they receive a refund. This is shocking to some, but true nonetheless, and here’s why. You can get an instantaneous pay raise by changing your withholdings to get more of your personal money throughout the yr. Save your personal money and earn your personal interest, or repay some of your debt and accrue interest that is still money in the bank.

Typically, the next query is, “How much is my refund? The greater the return, the greater the salary increase may be. Stop! Can we conclude that it is healthier to owe the tax office than to receive a refund? Well, it is determined by your ability to pay at the end. If you owe, you might be expected to pay on or before April 15. Failure to satisfy this condition on time may lead to penalties and interest.

So what’s more useful for you? It is predicated on financial discipline and purpose. If you might be financially sustainable, your goal ought to be to interrupt even or have a small balance left to repay. If you lack financial discipline, a refund may fit to your advantage.

Consider these three quick guides to enable you with this process:

  1. Determine whether you wish your a refund or in case your goal is to interrupt even.
  2. Talk to your tax advisor to find out the mandatory steps to enable you achieve your required profits. These could include things like W-4 adjustments, a brand new business structure, or an income and expense schedule.
  3. If you are eligible for a refund, determine the best plan to make use of it properly. If you are going to break even and get more in a yr, be certain that you employ “your surplus to the advantage of your financial situation.”

Whatever you select, be committed to your plan, follow it and understand that it’s your money. Remember that a refund doesn’t all the time mean a free pot of gold at the end of the rainbow, so be certain that you are not colorblind this tax season and make smart financial decisions. The advice a superb uncle will all the time let you know!


This article was originally published on : www.blackenterprise.com

Business and Finance

Quavo teams up with Vinny and Kelan Watson to open a restaurant

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Quavo, Vinny Watson, Kelan Watson, Atlanta Restaurant


When opening the restaurant, restaurateurs Kelan and Vinny Watson began cooperation with rapper Quavo V12 Restaurant and Sports Bar. Located at 610 Spring Street in Midtown Atlanta, V12 will open this Saturday. The restaurant is in a great location, with quick access to highway 75/85 and public transportation.

A video posted to a Migos fan account on TikTok shows the “Hotel Lobby” rapper giving fans a glimpse of the chic eatery overlooking the Atlanta skyline.

@Hunchorocketinfinity Quavo V12 restaurant is open on the identical day as Huncho Day. 🙌😄 Congratulations cho cho 🥰🙏 Repost: @v_watson 🥂 #v12restaurant #quavohuncho #quavofans #migos #migosfans #2024 #spring2024 #this summer #Congratulations ♬ original sound – migosfanpage

“I’m really proud of myself.” He said on the recording.

Co-owner Kelan Watson said their goal is to create unforgettable moments for foodies and fans.

“V12 will create moments in Atlanta history where the worlds of spectators and epicureans collide. Come and join us to experience V12,” co-owner Kelan Watson said in a press release

His brother and business partner, Vinny Waston, says they go the additional mile to provide their guests with an exceptional experience.

“My team and I were obsessed with every detail – from the chandeliers, to the lighting, to the sound, to the presentation, etc. I’m sure our guests will create unforgettable memories at V12. It’s going to be EPIC,” he said.

Beverage director Simone Hopson will oversee the bar, which can feature an in depth list of handcrafted cocktails and a curated wine list. There are also over 20 TVs within the space, making it a great meeting place for sports fans.

The interior is decorated with furniture imported from Spain, Italy and the Netherlands, in addition to works by local artists. The retractable roof gives guests the chance to dine under the celebs in the course of the warmer months. Valet parking and on-site parking might be available.

But the point of interest of the 7,500-square-foot space is the Lamborghini from Quavos’ “Lamb Talk” appearance on the show, which sits in the course of the restaurant.

Dinner guests can secure the table by doing online booking.


This article was originally published on : www.blackenterprise.com
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Social Security’s COLA forecast for 2025 looks bleak for retirees

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Retirement, Savings


Retirees are eligible for a cost-of-living adjustment, or COLA, however the profit could shrink, in accordance with preliminary forecasts by economists. Economic instability also adds to their concerns on this appearance-driven economy driven by greed inflation.

Estimated drop to 2.6% from 3.2% (this yr’s COLA) is forecast for 2025, although the COLA shall be finalized after the third quarter. Due to always rising inflation and the spending of emergency savings funds, 71% of retirees feel financially unstable.

“The confidence that both workers and retirees have in their ability to fund their retirement in 2023 has declined significantly,” said Craig Copeland, EBRI’s director of wealth advantages. “The last time confidence fell on this scale was in 2008, during the global financial crisis.”

Additionally, 58% of retirees were cutting back on unnecessary spending on account of economic uncertainty and rising costs of products and supplies.

The Motley Fool explained how COLA is calculated.

“Social Security Cost of Living Adjustments (COLA) are based on the common inflation rate through the third quarter, the three-month period covering July, August and September. Interestingly, COLA is calculated using the Consumer Price Index for Urban Wage and Office Workers (CPI-W), a subset of the better-known CPI-U

It is significant to notice that the 2023 COLA was noteworthy 8.7%.

As retirees feel the pressure of rising prices, many are resorting to returning to work – even part-time – to earn more money. Fifty-seven percent of black households they’re financially broken, and older Blacks are more likely than whites and other ethnic and racial populations to return to physically demanding jobs.

Not only is COLA a priority, but an alarming study also revealed that Black people may not even have access to retirement advantages like their white counterparts.

A study by the Economic Policy Institute found that “Only 57% of older employees (ages 55-64) and 53% of prime-age employees (ages 25-54) take part in employer-provided retirement plans, and the proportion this drops to 25% for employees aged 65 and over. “Lack of access is the biggest factor in reducing employee participation in retirement plans.”


This article was originally published on : www.blackenterprise.com
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The BLACK ENTERPRISE Disruptor Summit returns to ATL

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Disruptor Summit, Black Enterprise


Mark your calendars! BLACK ENTERPRISESthe nation’s leading Black digital media brand, is happy to announce its return BLACK ENTERPRISES The peak of disruptors

The event shall be an electrifying celebration of Black entrepreneurial excellence. Hosted by Nationwide, the two-day summit on May 17-18 shall be a singular business conference like no other, designed to connect, empower and have a good time the pioneers who’re changing the business landscape with amazing innovations.

The summit will begin with a warm welcome from Atlanta Mayor Andre Dickens and can feature an exciting lineup of dynamic speakers and interesting discussions. Get ready for an interesting fireside chat between the multi-talented Nick Cannon and BLACK ENTERPRISESDirector of Multiplatform Content, Selena Hill, where they may discuss Cannon’s unconventional approach to ownership and entrepreneurship within the entertainment industry.

Cannon shared his excitement about attending the conference BLACK ENTERPRISES The peak of disruptors. “I have been a disruptor all my life, and being in a room full of disruptors, path makers, change agents and free thinkers in business and culture will be phenomenal,” said the artist and entrepreneur.

But that is just the tip of the iceberg! Attendees can look forward to hearing from Cam’ron, the Harlem rap legend turned sports media podcaster, in an exclusive one-on-one conversation with BLACK ENTERPRISES Senior Digital Editor Sydney Douyon.

Attendees may also take part in a panel with Shaunie Henderson, visionary CEO Amira limited liability company and the creative mastermind behind the long-lasting series. She will participation invaluable business lessons from her extraordinary journey, including insights from her upcoming memoir, , with BLACK ENTERPRISES Cross-platform content producer Ashlei Stevens.

The summit program will include additional speakers who embody Black excellence, akin to Crystal Etienne, consumer investor and founder and CEO of Ruby Love and Caje and Co.; Justin E. Samuels, founder and CEO of Render ATL; and Luke Bailey, founding father of Neon Money Club.

Attendees can expect thought-provoking discussions and workshops on topics starting from redefining showbiz success to mastering the stock market and fostering social impact innovation.

Disruptor Summit isn’t only about knowledge exchange, it’s a path to potential partnerships, investments and accelerated growth. Aspiring entrepreneurs may have the possibility to showcase their brands within the $15,000 Disruptor Pitch Competition hosted by Walmart. At the identical time, the summit will culminate with the presentation of the Disruptor Award, designed to honor industry disruptors who’re making real change and making a big impact, akin to Arian Simone, founding father of Fearless Fund; Miss Diddy, CEO of The Brand Group Inc.; and Lena Ford, CEO of Positively Lena and co-founder of the Kinship Family Initiative.

How BLACK ENTERPRISES CEO Earl “Butch” Graves Jr. put it this manner: “This summit is a core element of our mission and a key platform that provides Black entrepreneurs with the knowledge, connections and resources they need to thrive in the business world.”

With invaluable resources, inside knowledge and actionable insights, Disruptor Summit goals to equip participants with the tools to boldly innovate, cultivate lucrative brands and take their businesses to latest heights.

“As a long-term partner of the company BLACK ENTERPRISES and title sponsor of this dynamic gathering, Nationwide unwaveringly supports Black innovators and creators at every stage of their entrepreneurial journey,” said Lu Yarbrough III, associate vp of Enterprise Diverse and Cause Marketing at Nationwide.

“This conference offers valuable content and connections that can help both emerging talent and established business owners disrupt norms and advance economic inclusion.” In addition to Nationwide, additional sponsors include Walmart, FedEx and Pronghorn.

Get ready to attend this exciting celebration of excellence in Black entrepreneurship going down on the Southern Exchange Ballrooms in downtown Atlanta on May 17-18. Visit here to learn more in regards to the summit, secure entry tickets, and stay awake to date with the most recent programs.


This article was originally published on : www.blackenterprise.com
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