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Should Freelancers Get a Business Checking Account?

The Motley Fool

Image source: Getty Images Before you ask, yes, freelancers can open business checking accounts , even if they don't have an employer verification number. That said, freelancers aren't legally required to open a separate checking account designated for business expenses.

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How Much Money Do Retirees Need in Their Savings Accounts?

The Motley Fool

Keep reading for more details about how much money you should keep in the bank -- as well as a few great bank account options to keep your cash safe and at the ready. Building up a year's worth (or potentially more) of a cash cushion to protect that retirement account balance you worked so hard to build makes good sense.

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Unexpected Accounting Challenges Small Businesses Face

The Motley Fool

With that in mind, here are a few accounting challenges your business might face -- and how to manage them. It's a good idea to engage the services of an accounting professional or firm who can handle all tax-related matters for your company. An accountant can help make certain you're able to maximize those, too.

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Top 3 Places to Put Your Money Instead of a 0.01% APY Bank Account

The Motley Fool

Image source: The Motley Fool/Upsplash After years of near-zero interest rates on bank savings accounts, Americans are getting more savvy with their cash. According to FDIC data, the national average savings account is paying only 0.46% interest as of April 15, 2024. Opening a money market account can be a great move for your savings.

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This Is My Favorite Retirement Savings Account, and It's Not Even Close

The Motley Fool

From 401(k) plans to 403(b) plans, there is a long list of retirement savings accounts you can potentially tap. If you can, use this one powerful retirement savings account My favorite retirement savings account is a Roth 401(k). But there's one in particular that I believe can be the best option for many people.

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Savings Accounts Are Paying Up to 5%. So Why Bother With CDs?

The Motley Fool

Image source: Getty Images Many people keep their savings in a bank account that earns interest. With savings accounts paying up to 5%, is there any benefit to keeping your extra money in a CD instead of a savings account? I also use a high-yield savings account so I can easily access my money when needed.

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3 Little-Known Perks of Your Retirement Accounts

The Motley Fool

Image source: The Motley Fool/Upsplash It's widely recommended to invest with retirement accounts because of their tax benefits. With traditional 401(k)s and individual retirement accounts (IRAs) , your contributions are tax-deductible in the year you make them. That's certainly a good reason to use these accounts.