Solar Panel Financing: How to Get Residential Solar Panels

Over two million installations — that’s the number of solar power systems that are now in use in the US. That’s over 500,000 more installations than the previous year.

In fact, within the last decade, solar has been seeing an average 48% growth rate year by year.

This shows how more people are going green and going solar in the US. After all, it’s more than just a huge cost-saver — it’s also an eco-friendly and renewable choice.

The question now is, how do you get your own system? What are your options when it comes to solar panel financing and purchasing?

We’ll address all these questions (and more) below, so be sure to read on!

A Primer on Why You Want to Go Solar in the First Place

In 2018, the average home in the US consumed 10,972 kilowatt-hours (kWh) of electricity or 914 kWh per month. During that time, the average monthly household electricity bill was $117.65. That’s more than $1,400 a year for electricity alone.

With solar energy, you can save every kWh you use in place of traditional electricity. Even if you were to split their use in half, you can still save over $700 a year. Within 10 years, you can save a staggering $7,000 in savings.

That’s if you use only 50% solar energy. Imagine how much more you can save if you convert your home into a pure solar-energy using abode.

These savings are just the tip of the iceberg, too. Here’s a quick look at some of the other benefits of getting solar panels for your home.

Solar Power Is Clean

The use of fossil fuels for energy produced 37 billion tons of carbon dioxide in 2019 alone. Yes, it’s the same CO2 that makes up a large part of greenhouse gases that contribute to global warming.

Solar power, on the other hand, doesn’t produce these gases, nor does it add to air or water pollution. Manufacturing the panels that make up the systems does have a carbon footprint but at very low rates.

It’s Limitless

So long as the sun is there, you can keep harnessing its power for use at home. Or at least, for the next two decades that your solar panels are still in service.

It Works Even When It’s Cloudy and Gloomy

Cloudy or rainy? Not a big problem. Residential solar panels can still generate 10% to 25% of their normal output during such days.

Shelling Out the Cash for the Cost of Solar Panels

After reading about its benefits, you’re likely wondering why the US isn’t 100% solar yet. Granted, the cost of solar photovoltaic energy has dropped by a staggering 73% from 2010. As more technologies also become available, its price is sure to go down even further.

Still, the solar PV panels themselves are the biggest cost-related issue here. The range varies greatly, but expect a whole-house system to cost between $15,000 to $40,000. That’s still a lot of money that the average US homeowner can’t shell out outright.

Of course, if you do have the budget, then it might be the most cost-effective way to get solar panels. Especially if you qualify for the 26% solar investment tax credit that runs up until this year. If you start construction next year, that credit will drop to 22%.

By paying for your solar panels in one go, you don’t have to worry about monthly payments. You also don’t have to deal with interest payments, which can drive up your costs. Most importantly, you’ll be the system owner right off the bat.

What About Solar Panel Financing Options?

Solar financing programs are usually either secured or unsecured solar loans. They’re much like standard loans, wherein there’s an interest rate applied to the capital.

Let’s take a closer look at both financing methods below.

Secured Solar Loans

Secured solar loans are financing programs that require some form of collateral. In most cases, they place a lien against the property where the installation will take place.

An example is a Home Equity Line of Credit (HELOC) secured solar loan. This makes use of existing equity you have in your home. As a result, you can secure a loan that has a low-interest rate.

Another example is the FHA PowerSaver Home Energy Retrofit Loan Pilot Program. This loan grants up to $25,000 to applicants who wish to make their homes more energy-efficient. These include solar panels, geothermal systems, and even duct sealing.

The Fannie Mae HomeStyle Energy Program can also help you get those solar panels. This loan covers up to 15% of the “as-completed” property value of the improved home. As with the FHA’s PowerSaver loan, this loan also applies to solar panel installations.

The main drawback of these loans is that they require a good credit score. For instance, the FHA PowerSaver requires at least a credit score of 660, on top of a 45% total debt to income ratio. The credit score rule alone can be hard to meet, especially since 12% of Americans have a score of 550 or lower.

Also, keep in mind that these loans are essentially a lien against your home. Meaning, your home serves as the security for the loan. If you’d wish to sell it at some point, you may be unable to unless you pay back the entire loan.

Unsecured Solar Loans

These are financing programs that don’t require collateral, hence the term “unsecured”. They’re much easier to get than the secured ones, as they also come with fewer requirements. Some lenders, such as Loanpal, also don’t require down payment.

That said, unsecured solar loans do have higher interest rates than secured loans. Again, that’s because they only rely on the borrower’s “promise to pay”. Most unsecured solar loan interest payments are also non-tax-deductible, unlike secured ones.

Still, they may be your better option if you can’t qualify for a secured solar loan. Especially if your issue has to do with a lower credit score. You do want to improve that, but if you wait until next year, you may only qualify for the 22% solar tax rebate.

Speaking of which, you can still get the 26% tax rebate even if you get an unsecured solar loan. By taking out the loan yourself and then using the funds for the installation, you qualify for the rebate.

Leasing Your Solar Panels

Not too keen on buying your own solar panels? Then you may want to consider leasing them instead. With a lease, you can still get the solar panels installed at home, but you won’t be the rightful owner.

The leasing company will retain all ownership rights over the system. Meaning, they’ll be the one to enjoy the 26% tax rebate (if you get them installed this year).

The good thing about leasing is that you won’t have to shell out any money for the panels themselves. The owner will shoulder the costs of the installation, monitoring, upkeep, and repairs.

What you’ll pay for instead is simply the lease fee, usually charged on a monthly basis. With that payment, you can use as much electricity as the panels generate.

Do note that the monthly lease can go up after every year due to the “solar lease escalator”. The biggest contributor here is the cost of maintaining the solar panels. Despite this, your monthly fees will still be lower than your usual electricity bill.

Save up for a Down Payment

Most solar loan providers won’t require you to make a down payment, but you should still consider doing so. This way, you can reduce the total amount of capital that you’ll be taking out. The smaller the loan amount is, the less you’ll have to pay toward interest.

Also, keep in mind that it’ll take less time for you to repay a smaller loan. Moreover, most shorter-term loans come with lower interest rates.

In short, you may be able to completely pay off your solar loan over a shorter amount of time. So, as much as possible, consider saving up for a down payment. Any amount would help make your solar panel installation more affordable.

Get Those Solar Panels Installed With One of These Funding Methods Now

As you can see, there are plenty of solar panel financing options for you to choose from. If you don’t want to pay for the system upfront, a loan is your next best choice. Just make sure to compare as many offers as possible, so you can figure out which one has the lowest interest rates.

Once you have a list of prospective lenders, start sending your applications in! The sooner you get your panels installed, the sooner you can harness the free and limitless power of the sun.

Ready for more tips and tricks that’ll make you more financially-savvy? Then be sure to save this site on your bookmarks bar so you can keep coming back for more posts like this!

How to Write an Essay About Finances?

Are you searching for a professional who can write you a finance essay? Nowadays, students are experiencing pressure in submitting it to get a high ranking in class. Everyone is aware that knowing how to manage finances is a complicated topic that requires high critical and analytical skills. But, composing this perfect kind of essay does not need to be difficult. Continuous learning is the key. You should keep on reading to know the simple strategies for composing finance essays to achieve higher ratings.

However, let us discuss what a finance essay is. It is a written statement on a specific problem. Your main job is to arrange the important data that will aid your response and deliver it precisely.

Finance essays are the most common homework of students with business degrees. The main objective of it is to show how a student uses his critical thinking skills. It includes studying accounting, payroll, and tax issues. It should also analyze, explain, interpret, and evaluate a specific topic.

The characteristics of a superb finance essay should have the following:

  • An original and new approach
  • A direct logical arrangement
  • A thorough analysis with explanations
  • Based on substantial research
  • A straightforward introduction and conclusion
  • A meticulously formed sentences
  • Error-free grammar, spelling, and punctuation

The following steps are the ways on how to create high- quality financial essays.

  • Choose an acceptable topic for your finance essay.

Normally, professors are the one who provides its students the possible topics. But sometimes, they allow the students to pick their topic. Selecting the perfect topic is challenging and a relevant step to have a favorable outcome. Here are the tips on how to select a strong topic.

  • Choose the topic that will suit your interest.
  • Pick a familiar topic so you can simply do extensive research and conceptualize ideas to quickly finish the finance essay.
  • Simplify the general topic. When writing, analyze, and limit your topic into 3-4 pages. Be sure that the relevant ideas are stated.
  • Do extensive research.
  • Construct the first draft.

In doing your first draft, it should start with a catchy introduction. Most of the writers are composing the introduction and conclusion after finishing the content of its main body. It should be concise as well as connect all the main points of your essay.

  • Introduction: This is the most difficult step. In this part, you should show a strong statement that will lead your writing. It should interpret the research question and a concise outline of your essay structure.
  • Main body: In this part, it should contain your arguments. Every sentence should have the important points that you want to discuss in the specific paragraph. It will also show the evidence that supports your arguments.
  • Conclusion: Generally, it comprises five to six lines. You don’t have to add any new data but you can sum up in one sentence every paragraph of your main content.
  • Bibliography: It is a list that includes all the references you have used. The list should have a layout that follows the format required by your professor.
  • Revise and edit the draft.

After doing the first draft, read it all over again to see if it shows a fresh concept of your ideas. It is acceptable that you can’t perfect your draft at one time. Even perfect essay writers cannot compose a perfect draft in one time only. They have to compose several drafts and revise them for more improvement. Editing is a critical stage in writing. In this step, you will see how compelling and well- demonstrated your arguments.

  • Proofread.

It is the last step in the writing procedure that you have to check in detail. Attentively assess every sentence to avoid overlooking the relevant data that you may have to revise. Focus on the particular data one at a time. After making some revisions, review your finance essay a couple of times. List the usual errors that you were making from your prior writings and make it as a basis for your proofreading technique. The usual errors that writers encounter are the misspelled words, improper tenses, duplicate words, and other grammatical and sentence structure mistakes. Ensure that the reference list is consistent, precise, and relevant.

Bitcoin Brokers – Understand the Benefits of CryptoCurrency Trading

Bitcoin is a cryptocurrency, which may be spent, saved, or invested, and it can be stolen too. Buying and selling with Bitcoins became considered to be risky. However, the modern tendencies display that it has emerged as an immediate edge in the binary alternatives area. This decentralized foreign exchange isn’t always regulated utilizing any government, or by any vital authority.

If you’ve decided that you want to make a considerable investment in bitcoin, you’ll most possibly be better off using a broker to execute your exchange, instead of setting numerous purchase orders at various digital currency exchanges yourself. 

Determination of the bitcoin fee:

It’s price is decided according to the supply and demand ratio. The cost will increase when the decision grows, the fees plummet downwards at the same time as the demand falls. Bitcoins in the move are restricted, and new ones are created at a prolonged price. Since it does not now have enough cash reserve to transport the market fee, its fee can be extremely unstable.

Buying it is different from buying a stock or bond because it isn’t always an enterprise. Consequently, there are no company balance sheets or form 10-Ks to check. And unlike investing in traditional currencies, it is not issued by using a central bank or sponsored with the aid of a government, therefore the financial policy, inflation costs, and economic growth measurements that generally affect the fee of currency do no longer apply to bitcoin. 

Fame reasons for bitcoin trading: 

1. Low inflation danger:

Inflation is the biggest problem for buyers because all of the currencies lose a number of their buying energy. At the same time, the reserve banks keep printing other foreign exchange. With it’s minting system being restricted to only 21 million Bitcoins, it hardly gets impacted with inflation. 

2. Low disintegrate chance:

Currencies fluctuations rely upon government trade policies, which at instances cause hyperinflation, or maybe cause the collapse of the currency. Bitcoin is a digital regular foreign money, which isn’t regulated with the aid of any government.

3. Simple, at ease and reasonably-priced:

The Bitcoin bills take place among peer-to-peer without any intermediary, that is why it is comfortable and reasonably-priced. 

4. Easy to hold:

Bitcoins well worth million bucks may be carried in your pocket, in a reminiscence stick. It can’t be carried out with gold or cash.

5. Untraceable:

Issuance of it isn’t always regulated by any government, so the hazard of seizure is nil.

Binary Options Bitcoin Trading Platform

Binary alternatives brokers are getting familiar with the popularity of those Bitcoins, and its constant fluctuating values. Therefore they are using this possibility to provide traders with the present-day unstable crypto-forex as an additional price technique.

It’s brokers presenting crypto-forex as trading opportunity consists of :

One contact option: Buying and selling can be finished with AnyOption or one-touch choice. As an example, the new famous foreign exchange pair is BTC/USD.

SetOption: The trendy pick to be had for asset buying and promoting is BITCOIN/USD.

It’s agents offer a simple buying and selling online platform. All you need to do is visit their internet web page, input your information, and create an account. You could begin with a demo account to understand the marketplace motion. The buying and selling display is easy. Choose the price path (UP/DOWN). Select the timeframe.

Is this trading secure?

It’s organizing is conceivably the world’s big spread registering challenge. Immediate aspect evaluates The most well-known shortcoming right here is the customer’s mistakes. Bitcoin wallet information can get lost, taken, or erased by accident only like some other documents inside the superior shape.

Anyhow, clients can make use of sound safety strategies to ensure their cash. On the other hand, you may choose the specialist companies who provide considerable level security, just as protection towards misfortune or burglary.

OTC trading market

The large bitcoin investors, those trading from $500,000 to many million well worthwhile, favour using OTC brokers rather than dealing simultaneously on different exchanges that have varying liquidity. It is mainly due to its illiquidity as compared to traditional asset classes such as blue-chip stocks and government bonds. In concept, the negotiated price with an OTC dealer must usually be higher than the standard rate you would get purchasing your bitcoin.

Therefore, if you intend to make a significant investment in bitcoin or intend to trade in and out of the digital forex in excessive volumes to gain from brief-term fee movements, you’ll most likely receive better entry and exit levels when using an OTC broker.

Growth of the OTC market

Within the past three years, it’s OTC buying and selling marketplace has grown noticeably. Circle trade alone processes over $2 billion well worth of digital asset trades every month, and they are only one out of over a dozen OTC buying and selling desks that service digital asset investors. The specific figure of the month to month bitcoin OTC exchanging volumes is difficult to decide because of the classified idea of these exchanges. In any case, if they genuinely are bigger than on-trade exchanging volumes then we can evaluate that nearly $250 billion worth of  BTC is being traded over-the-counter each month. For more similar statistics related to crypto check Crypto Head.

How to choose the best broker?

When choosing your broker, consider following these essential steps:

Reputation: The reputation of your potential broker  is the most necessary of the elements to consider. If you are going to trust a person to buy and sell it for you for several hundred thousand dollars or extra, you need to agree with the middleman. An excellent first step is to test whether the dealer you intend to apply to is regulated. The next step is to evaluate the broking’s popularity, which can usually be decided using who owns and runs the operation and using analyzing unbiased opinions about their offerings. Not all it’s brokers are regulated financial offerings companies, because bitcoin itself is not regulated. Having stated that, ensuring that the broker you intend to use has a great popularity amongst its current clients and has a clean and public ownership structure is vital.

Fee: Almost equally as important are the charges the broker requires. Agents usually charge a fee, so that you need to select one that expenses a reasonable price. That is particularly the case if you intend to trade actively because excessive commissions eat into your returns.

Customer services:  To find out whether or not a bitcoin dealer gives suitable customer service, you can both study unbiased evaluations online or try them out and see whether their customer support standard is up to what you assume from your dealer.

So, these trading brokers are providing smooth hand and benefited cryptocurrency trading to the people.

How to Get LVNV Funding Removed from Your Credit Report

Sometimes, people make bad financial decisions that can have long-term negative impacts. If that isn’t bad enough, sometimes those impacts can go south in a hurry.

If you’re someone who has had financial trouble and starts getting LVNV Funding notices and listings on your credit report, you aren’t alone. Here’s what you need to know about this collection process, your rights, and how to get LVNV Funding removed from your credit report.

What is LVNV Funding?

LVNV Funding is a very successful— if infamous— business organization. Based out of Las Vegas, Nevada, this credit procurement company purchases debt from lenders and loan officers. As a result, the money you once owed on your overdue loan or phone bill becomes their debt to collect.

Many people have reported LVNV Funding approaching the problem in various ways. Some consumers have said that LVNV Funding appeared on their credit report, but subcontracted other debt collection services to solicit them to pay. Others have received direct calls from the organization, and some have been immediately sued for the debt. These variances likely depend on the individual situation.

Regardless of the approach, the LVNV Funding stamp on a credit report is now viewed as the death omen of the credit world. On the bright side, their notoriousness has a lot of people sharing how to get out of a sticky situation.

Starting a Dispute

When you borrow money, you have a legal right to dispute anything that you deem unfair or unsavory. That doesn’t mean that your dispute will be approved, but it’s better than nothing. 

With a service like LVNV Funding, your chances are often good based on how they procure debt from other collectors. In many cases, they don’t have a clear profile of where the original debt came from or what it was for. They might be lacking that original contract that you signed when you borrowed money. In other words, there are loopholes that can work in your favor.

The first step is to file a debt validation letter requesting proof that the debt in question is yours. If the agency doesn’t have a written contract or proof that the debt they’re trying to collect is attached to you and within the statute of limitations on collections. It’s advised that you start this process immediately, as LVNV Funding tends to escalate things quickly.

To streamline your efforts, consider using credit repair software. These tools can send written letters to both LVNV Funding and the credit score companies to streamline the process and help you remove collection accounts

Knowing Your Rights

It’s important to know your legal rights as you go through the dispute process. Through the Fair Debt Collection Practices Act (FDCPA), there are limitations to how far a creditor is allowed to go when pursuing a debt. 

For example, making threats or calling at unreasonably early or late times are violations of the FDCPA. Creditors aren’t allowed to harass you at work if you’ve instructed them not to (via a written letter), and you aren’t legally obligated to speak with subcontractors the debt agency has hired to call you.

Knowing your rights not only sets you up to protect yourself from predatory practices but can also set a foundation for countersuing LVNV Funding.

Best Practices for Communication

The best way to communicate with LVNV Funding and the credit score companies throughout this process is via registered mail. This creates an official paper trail that protects you as you build a case. When choosing dispute software, be sure to use a system that allows you to print and send paper copies of the letters you need.

Keep a timeline of your communications with the collections agency. Write down when they call, things they said, the actions you took, and when. In most cases, LVNV Funding will back off quickly once you take a proactive approach to getting them off your back.

Don’t fall victim to predatory practices that could impact your finances for years to come. Know your rights and fight for them.

Wise Investments You Can Get for Your Home

Many people have realized that it’s so much better to invest in the place you are currently living in rather than worrying about buying another. However, many might be confused about the best home improvements that can increase your house resale value and also provide you with more comfort. Making wise decisions regarding your investments requires a lot of work and effort to be put into researching this task. To make your job easier, we have collected some of the wisest investments that you should consider first. 

A Backup Generator

This is one of the most important investments in terms of practicality. When the next blackout strikes, a backup generator will not only provide you with comfort and a sense of safety but also increase the value of your property. At least, it would spare you from worrying about your food from spoiling. If you are unsure about which type of generators would suit your house best, you can click here to find out more about different diesel generators that will keep your home running even during a power outage. This investment will not only increase your house value, but it will make your life a lot easier. You will be able to keep your house warm or cool depending on the state of the weather, cook your food, recharge electronic devices, and most importantly, running your water heater for showers. 

Smart Home Technology

Adding some smart technology to your house can change its resale price drastically. Not only is it a wise decision to invest in something that wouldn’t lose its value or cost you a lot of money, but it will also make your life a lot easier. If you feel that this task is overwhelming and you are not sure about where to start. You can start with small and simple changes. Enhancements such as adding a smart thermostat, lighting, fire detectors, and security cameras would make a huge difference in the way your house is running. 

Make Your House More Sustainable

There are many reasons behind trying to make more energy-efficient decisions and resorting to environmentally-friendly alternatives; it’s not always about going green. Saving energy doesn’t only minimize our carbon footprint, but it can always save us money as long as we are living in the property. Some of the most important efficiency measures that most people care about when they are buying a new house include insulated windows with low-E coatings to avoid wasting heat and protecting yourself from heat transfer rates. Energy-saving windows can decrease your energy bills by more than 7% and up to 15%. Start with simple steps and decisions such as coating your windows and then work your way up to bigger and more drastic improvements. 

Hardwood Flooring

It’s better to steer away from cheaper options that will only save you money instantaneously and end up costing you a lot more in the long run. Going for quality will save you from regularly paying repair bills. Flooring has the power to complement your décor and bring your design together. Consider installing hardwood flooring in your house as they can increase the house’s value greatly. Regardless of the fact that they are aesthetically beautiful, they are also extremely durable and can withstand a lot of wear and tear.

Timeless Designs

Timeless house designs are the ones that can withstand age on two different levels; aesthetically, and practically. Building your house with expensive materials that can last without much wear and tear, and going for a design that will still be relevant after 10 or 20 years is an extremely smart move. This way you don’t have to worry about a big renovation once you decide to sell your house. The paint might seem trivial among the intricate details that go into the house. However, it’s an extremely potent upgrade that has the power to change your house completely. You can either do this job yourself or hire a professional, but the important thing to pay attention to is the quality of your paint. It’s better to go for high-quality paints with a neutral color scheme. Choosing these widely accepted and loved colors will not only turn your house into a timeless design, but it will also make it a lot easier for potential buyers to take an interest in the property.

One of the major financial decisions we make in our lifetime is investing in a house that can give us peace of mind and an amazing place to live in. Since home prices keep skyrocketing with every passing hour, which consequently led to a huge increase in the mortgage rate and a booming US renovation market. Instead of considering moving out or buying a new house, you can make simple changes to your current home that will completely upgrade it.

It’s Time to Pay Up: How Hard Is It to Do Your Own Taxes?

How hard is it to do your own taxes?

According to the IRS, the average person will need about 11 hours to prepare a tax return. However, 11 hours can easily turn into 11 days or more, if you don’t know what you’re doing.

If you’re thinking about filing your own taxes, but aren’t sure if you can, you’ve come to the right place. We’ve created a short guide highlighting the pros and cons of filing a tax return on your own. Whether you’re filing as an individual or business, you should always know your options.

Read on to find out what the best tax filing option is for you.

How Hard Is It to Do Your Own Taxes? – Answered

To answer the question, “how hard is it to do your own taxes?”, you have to consider your personal situation. Your experience and knowledge of tax law will go a long way towards making the process easy.

For example, do you know what forms you’ll need to submit with your return? Do you know all of the tax credits and write-offs you qualify for?

If you don’t have any tax knowledge, it’ll take you longer to file your taxes. Next, ask yourself how organized you are.

For instance, do you use tools like Google Docs offline, to keep track of your financial documents? Failing to keep accurate financial records can make the filling process take longer.

When to Hire a Tax Professional

If you’re filing personal taxes, the process is fairly straightforward. As long as you haven’t had any major life changes, you should be able to file on your own without problems.

However, while filing on your own is easy, that doesn’t mean it’s the best choice. Hiring a tax professional can help you identify potential tax write off’s. Write-offs you might otherwise miss.

Let’s say for example you’re a freelancer. Did you purchase any equipment for business purposes? If yes, it’s possible you can write all of the equipment off on your taxes.

A tax professional is also helpful if you’ve had a major life event happen. Having a child, moving, getting married, or divorced, are all major events.

When your life circumstances change, so do your taxes. A professional tax preparer might be able to identify tax breaks you never knew existed.

When to Use Tax Software

Using tax software makes sense if you have experience doing your own taxes. However, don’t worry if you’re not a tax whizz, all you need is a little bit of understanding.

By using tax software, you’ll automatically know what information you need to input. The online software will also do all of your calculations for you.

Finally, tax software is great for individuals that are busy in the stock market. Software programs can automatically input data from different broker forms and securities transactions.

Do Your Own Taxes as a Sole Proprietorship

Are you operating an unincorporated business where you’re the only owner? If yes, your company structure is a sole proprietorship. It’s one of the easiest business structures to manage.

Doing taxes for sole proprietorships is fairly straight forward. As the business owner, you can report all of your company’s income and losses on your tax return.

However, you do need to be careful when it comes to legal complications. Running a sole proprietorship means you assume all legal responsibility for your business. Should you not be able to pay your taxes, your personal assets are on the line.

Should You Do Your Taxes as a Corporation?

Is your business a corporation? If yes, you’re either an S corporation or a C corporation.

C Corporation Taxes

When you start a corporation, you automatically begin as a C corporation for tax purposes. You’ll have to pay corporate income tax on all of your company’s profits. The shareholders will pay taxes on any salary they receive, as well as any dividends.

How hard is it to do your own taxes as a C corporation? As long as you’re using a tax preparation software, you shouldn’t have too much trouble. However, if you’re thinking about restructuring to an S corporation, you’ll need help.

S Corporation Taxes

If you’ve never filed a tax return as an S corporation, the filing process may feel a bit daunting. You’ll have to use a completely new form, than the ones you’re used to. The first time you file as an S corporation, have a tax professional help.

An S corporation doesn’t pay corporate taxes. Instead, the company’s losses and profits wind up in the shareholder’s tax returns. To qualify as an S corporation you have to have fewer than 100 shareholders. T

he shareholders can’t be other corporations, nonresident aliens, or partnerships. You also have to be offering only one class of stock. Finally, to qualify, you’ll have to be a domestic corporation.

Mistakes to Avoid for Personal Taxes

Filing taxes as an individual is easier than filing as a small business owner. However, you’ll still need to be aware of the most common filing mistakes you should avoid.

Here’s a short list of easy to make tax mistakes:

  • Claim the wrong filing status

  • Overlook income

  • Mess up math

  • Miss out on credits

  • Miss out on deductions

  • Filing the wrong tax forms

When you file your taxes, you have to choose a status. Being single, without kids, makes it easy to know what status to choose, “single”.

However, caregivers, and single parents, might have a trickier time knowing their status. If you’re unsure about what your correct filing status is, reach out to a tax professional to double-check.

Next, make sure you’re not overlooking any income. Failing to disclose an income, no matter how small the amount, could cause you big problems with the IRS.

Tax Mistakes Small Business Owners Make

Small business owners have to be extra careful to avoid making any tax mistakes. Even the smallest mistake could wind up costing you a major fine from the IRS.

Here’s a shortlist of small tax mistakes that can cause you big problems.

  • Not reporting accurately

  • Filing the wrong forms and schedules

  • Not applying limitations properly

  • Keeping bad records

  • Overreporting income

  • Not claiming the right deductions

  • Misclassifying workers

  • Filing at the wrong time

Certain forms are invitations for the IRS to come and audit your company. For instance, there’s a form you can file, Form 5213, to prevent the IRS from auditing you for 5 years.

However, once those 5 years are up, you can almost guarantee the IRS will begin auditing you. Before you file any form to help your business, make sure you know the possible consequences.

Taking Care of Your Taxes

How hard is it to do your own taxes? Now you know the answer depends on your financial situation, and tax knowledge.

We hope our article was able to inspire you to continue learning the best tax practices. For more articles to help you grow financially, check out the rest of this site.

When to Outsource Finance Department Services

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Running a successful business requires proper coordination of all business segments. That is not always easy to achieve, especially for startups and small businesses. When they have a hard time to secure their place in the marketplace, companies (unknowingly) make mistakes like neglecting small costs or tax preparation. Such moves can endanger their businesses.

So they decide to transfer some of their business to others, which is more economically viable. Also, at all times, they have strategic support from outsourced experts. However, even large companies are opting for this strategic move because it cuts the cost of staffing.

More on other benefits of outsourcing read below:

https://www.thebalancesmb.com/top-outsourcing-advantages-2533765.

Outsourcing key finance positions rests on the idea of ​​a company’s complete commitment to its primary activity. It means that, if finances are not your business niche, you should leave other segments of the business to experts in individual fields. Depending on the scope of work, you can transfer all accounting tasks (or just one part of these) to agencies or individual financial experts.

For Periodical Finance Tasks

 

Specific accounting jobs, such as accrual accounting and analysis, are done almost daily. So you need a reliable team or associate within the company or outside source. However, things like tax preparations are done once a year for a specified period, so you don’t need to hire a full-time taxation expert for occasional jobs.

Sometimes, even for the more common financial tasks, you don’t have to have in-house staff. You can outsource an accountant, chief financial officer, and even an analyst. This decision depends on the size of your business and also on the volume of financial transactions.

Outsourced companies or individual CFOs are paid per project. If you have an in-house employee, that cost would be significantly higher, since most of them work for a fixed salary. Sometimes, the amount of work they do does not justify their salary; then, you are practically paying them to do nothing. 

Of course, this is not always the case, as every business requires the involvement of the accounting sector. Still, for most small and mid-size companies, the more cost-effective solution is external use of part time and fractional CFO advisory services.

You Have Control over Financial Transactions

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If reports from financial aspects are essential to you in making business decisions on a daily or weekly basis, outsourcing financial skills will give you a much better insight into the costs and inflows you have. If you don’t have experience in accounting or don’t hire a specific person in the company in charge of financial issues, external associates will help you to control your funds and how they are spent.

Outsourced experts will keep you posted about your funds and cash flows. Since their focus is solely on your finances, you can be sure that this part of your business will also receive the attention it needs and then deliver favorable results for your company.

Paperwork Issues

 

When you need to make a quick decision related to finance, you need to be supported by data, facts, and reports. Bureaucracy running through the economic side of your business can be quite demanding and complicated, which can further lead to backlog and important business decisions.

The outsourced finance department provides continuity in the work of this sector. External agencies with multiple experts in a particular field will deal with all the financial documents, and eventually integrate all of these into reports that will be of value to your decision-making process.

Outsourcing when You Need Support

 

The services of an outsourced financial agency or individual can be used even when you have a developed finance sector within your organization. Their services can be used to support the work of the existing financial infrastructure. Tips on choosing these associates see here.

Your employees may need help with mastering new financial software or drafting a final report. Your in-house staff does most of the work, and it is up to you to hire an expert to help them with going through the accounting backlog.

With the help of an expert in finance, you can bring a fresh eye to your business. With careful judgment, you can decide whether outsourcing is what you need. Only after looking at all the information and potential profits, both tangible and intangible, can you make the right decision.

How to Find the Best Accounting Firms in Los Angeles?

There are literarily over a thousand accounting firms you can pick from when you need accounting services. Still, you need to be careful because not all agencies in Los Angeles provide satisfactory services.

It takes research and a series of important considerations before you can confidently decide on which accounting firm you are going to be sticking with.

It doesn’t matter whether you are a company in need of financial services, or an individual looking for tax advice, choosing the right team is significant. The benefits of an accountants cannot be overemphasized, and you can learn about a few of them in the link below. 

https://www.bizjournals.com/bizjournals/how-to/growth-strategies/2015/04/5-reasons-why-your-business-needs-an-accountant.html

Here are 10 Things to Consider When Choosing an Accounting Firm in Los Angeles.

1. The Cost of Hiring

You need to find out the amount an agency will be charging before entrusting the company’s valuable information to them. Every accounting firm has its price. Some companies may charge a specific amount based on a set of activities, while others might charge based on separate events.

2. Certifications

In determining the right accounting firm of your choice, you need to find out the qualifications that the accounting firm holds. Firms who specialize in TAX or VAT needs to have the specific certificate issued by the accounting body of Los Angeles.

3. Their Diverse Expertise

The next thing you should be considering is the firm’s areas of specialty. There are different accounting agencies with diverse expertise. Most of them are specialized in ACCOUNTING, VAT, TAX. While some are only great at auditing, so, its best you know what you are looking for and which one you want to be sticking with.

4. The Expert Advice

You need to know that some accounting firms deliver financial advice and feedbacks to their customers on both business and personal matters. This information may be of great benefit to you. Still, there are a lot of businesses who do not bother to give out this information, because they feel it is irrelevant.

What you need to do is to find out the many Los Angeles accounting agency who give out advice and feedback and stick with any of your choices because there are very resourceful.

5. Their Range of Services.

If you are a business looking for accounting services, you should be looking for a partnership that offers a range of services – These could include financial management, auditing, cash flow analysis, and planning. An agency that provides these services will not only complete your tax returns; they will also offer you information on your company’s financial situation.

6. Who’s Going to Be Handling your Account, and How Experienced Are They?               

When looking for financial services, it is essential to know precisely who is going to be handling your accounts. Is it an accountant with years of experience, or the junior accountant of the firm? The larger firms usually have lots of junior accountants who look after their clients, while the smaller or mid-sized ones have a couple of experienced ones who look after their clients.

If you are a business, you must know how available your team members are. You need to find the ones that can meet up with you when you need them to or be available to solve a problem that you might be having. 

When starting a small business, the best ones are not usually the ones who schedule a specific time, but the ones who are open for you any time you need to consult. You can find some useful tips here on how a startup can hire an experienced professional. 

7. Audit Assistance

Your accounting firm needs to provide audit services because if the Internal Revenue Service (IRS) shows up at the door, you need to have a reassuring feeling that you have things covered by your accountants.

An audit can be stringent, but an excellent agency should be able to provide accountants that are familiar with the procedure and can be of immense importance for the business or individual.

8. Their Familiarity with your Business or your Situation.

When you begin to speak with potential partners, you must ask about their current or past clientele. Have they handled situations that are similar to yours or businesses like yours?

Preferably you should be looking for one that is familiar with your industry or your situation, as this means that they have the experience required to provide the right information for you and your business.

9. Personal Connection.

Another vital thing to consider when looking for a firm is your connection with your accounting partner. It doesn’t matter if you hired the most expensive account professional in Los Angeles; their relationship with the clients has to come first.

If you are comfortable with your partner and you both understand what the business needs, things will work out for you and your business. You can learn about building a relationship with your accountant in the link below. 

https://www.inc.com/john-rampton/why-you-should-be-taking-the-relationship-with-your-accountant-to-the-next-level.html

10. References

Simple word-of-mouth is still a very reliable way of referencing today. Speak with family members, friends, or business associates to find out which accounting firms they are using and if they have a few referrals for you. 

Four Financial Tips to Help You Avoid Debt

In the modern world, debt is one of the biggest catastrophes that can hit an individual or a family. Not only does debt often mean dark gathering clouds of anxiety and worry, but it can have a significant impact on the whole of your life – including your credit score, your living circumstances, and the lifestyle you’re able to lead. As such avoiding debt situations should remain a top priority for individuals – especially during the COVID-19 crisis. This article offers four top tips to help you avoid debt, thus maintaining your healthy finances all year round.

Budgeting

The top tip – and one that’s been made a great deal easier in recent years – is to budget. Budgeting means taking account of every single dollar you spend, and seeing where your finances end up after a typical month. Most individuals and families will find that they’re spending far too much on certain things, be they subscription services or take-out coffees, and will be able to change their behavior accordingly. Being able to see your financial data in that form can encourage healthy spending habits that prevent you getting into debt.

Short-Term Loans

When you hit a rocky patch in your finances – like a temporary period of unemployment or a period during which you have to shoulder the costs of legal cases – you will need cash fast. Simply budgeting won’t be enough, as you’ll have immediate fees to pay, like your rent, your bills, and your grocery shop. As such, you may occasionally have to rely on short-term loan providers. If you own a vehicle, one neat service, available at premiumcartitleloans.com/, allows you to release the equity on that vehicle in exchange for cash. You’ll keep access to your car, and you’ll be able to pay your loan back as soon as you’re able to.

Making Investments

In the above loan option, your car is an investment asset. It’s an example of the wealth that you possess that isn’t in the form of cash. This is the sort of thing that can help stabilize individual and family finances – and it’s called diversifying your assets. If you’re able to make small investments over time – in stocks, in art, in vehicles, or in property – you’ll be best-placed to cash in on those in the hard times, or save up with them before your retirement.

Compare Prices

Finally, no savvy operator in the financial world should be shopping indiscriminately without checking first that their purchases are the best possible value for money. In an age of price comparison websites and smart pricing on online stores such as Amazon, you’ll find that it’s easier than ever to find the best deals on all of your favorite products. Be sure to compare prices on those more expensive fees especially – like the bills you pay each month, and the costs of your monthly essentials. Domestic products and even food prices can vary wildly, so it’s best to do your research before filling your cart.

These tips will help you maintain a solid, robust financial life, keeping you away from crippling debt in the long term.

How to Save Cash When Upgrading Your House

All homes eventually reach a point where they are no longer suitable. Whether it’s outdated wallpaper in the kitchen or a lifestyle change that requires a room conversion, upgrading your property to something more modern can be an exciting process. Unfortunately, it can also be expensive and stressful. If you’ve got the time to do your research, though, you could save more money than you think. If the time has come to give your home an overhaul, here are the best ways to save yourself some serious cash. Don’t rush into a major property decision without knowing the best steps to take next.

Do It Yourself

One of the best ways to ensure that you save money on your property transformation is to do as much of the work yourself as possible. Of course, you will still need to use qualified professionals for more technical work like changing electrical wiring, installing a new shower, or adding a gas cooker. However, you can paint walls yourself, or learn a new skill using YouTube tutorials. Learning to patch holes in drywall or how to fix minor plumbing issues can save you a fortune.

Reusing Materials

For any room renovation, you can dramatically reduce your material costs by simply reusing what’s already there. Kitchen cabinets can be removed, sanded down and varnished and then put wherever you want them to be. It might surprise you how much even small changes like this can have a transformative effect on the interior of your home. If you lack the materials to reuse, then you still have options. Look at salvage yards or auctions for building materials. You can even head online and look for people selling or giving away the exact materials that you need.

Know Your Finances

How you pay for your renovations and changes can have a dramatic effect on the overall price. Long term loans can mean long, drawn-out payment terms that leave you paying much more than you intended, but that is only if you go to the wrong lender. Instead, by going to the right one, you can discover there are some great financing options available, so it’s worth looking at sites like https://fastmoneycartitleloans.com/, where you can get a title loan that uses your car title as the security on your loan. This is a much safer financing option than other types of loans, and it’s fast enough to ensure that you get the money for your property upgrade when you need it. You also get to keep using your car, which is handy for those DIY shopping trips.

Use the Sales

Whenever you’re planning to spend a lot of money, it’s always smart to wait for the next big sales periods. Black Friday can be a great time to get power tools, while late Fall is the perfect time to grab some bargain garden future. Do some research on the products and materials that you want to buy and find out when the best times of the year are for getting them cheaper. You might be surprised by how much you can save simply by being a little patient.

When it comes to making big changes to your property, take as much time as possible planning the process. Remember, the longer that you commit to research, the more likely that you will end up with the right choices and the right costs.

The Top 5 Big Benefits of Debt Consolidation


Debt comes from multiple sources. People owe money for their homes, cars, schooling, and personal credit card purchases. Consumer debt in America is $13.86 trillion, which is an all-time high.

The good news is debt consolidation helps people manage their money and pay off their debts.

What is debt consolidation? Debt consolidation is the process of merging multiple bills into a single channel. The debt is paid off through loans or a financial management program. Debt consolidation helps people untangle the mess that multiple bills create.

Let’s explore the top five benefits of debt consolidation.

1. Debt Consolidation Simplifies Billing

Many people in debt find it difficult to track all of their payments. Debt consolidation eliminates this problem and simplifies the debt-paying process.

How does debt consolidation work?

A person first calculates the monthly amount of credit card bills and interests. Then, a person’s monthly budget is calculated. This includes all necessary spending, such as food, housing, transportation, and utility payments. The money that is left is usually enough to handle a person’s debt.

Debt consolidation makes it easy to manage payments. A debt consolidation loan combines debts into one lump sum. The plan makes it simple for people to stay on top of multiple bills and loan payments.

2. Maintain a Lower Interest Rate

Various debt sources each include interest, which adds to a person’s total debt. If your debts are unorganized and you miss a payment, the interest rate increases.

By consolidating your debt, all payments are combined into one lump sum. The total has only one interest rate. One interest rate on a large sum is always lower than multiple interest rates. Debt consolidation helps you focus on the one interest rate and stay on track to pay it off.

3. Raise Your Credit Score

It can be difficult keeping track of multiple credit cards and making timely payments. When you miss a payment, not only do you owe the credit card company more money in interest and late fees, but your credit score decreases.

Debt consolidation loans reduce the need for credit cards. It eliminates your credit card burden, which results in an improved credit score. In three months, people who use debt consolidation loans to pay off credit card bills increased their average credit score by 21 points.

4. Gain Control Over Your Finances

Debt consolidation helps people understand their finances. Debt management programs force people to track their spending and become more aware of their monthly expenses. By consolidating debt, people can become better at managing all of their finances.

After completing a debt consolidation management program, many people are better at tracking expenses and managing their income to stay out of debt in the future. Learn more about debt consolidation and how it can benefit your finances.

5. Reduce Stress

Finally, debt consolidation benefits a person’s mental health. Constant late payments and unorganized finances lead to stress and anxiety.

Debt consolidation simplifies your finances. When following a debt consolidation program, people can see the light at the end of the tunnel, which eases their financial stress. By better understanding their finances through one lump sum, every month, people get one step closer to paying off their debts.

Keep Exploring the Benefits of Debt Consolidation

The benefits of debt consolidation go on and on. Not only is it an efficient way to simplify your finances, but debt consolidation leads to lower interest rates, higher credit scores, and better control over your finances. Most importantly, it reduces the financial stress that debt creates.

If you’re looking for more debt consolidation information, browse our blog.

Little Known Facts About Injury Lawyers – And Why They Matter

When someone gets injured because of an accident that wasn’t their fault, they may think that it will be easier to get compensation for the medical expenses. Unfortunately, it’s not true. There are many cases where the injured person settles for a very low amount of compensation that didn’t cover even half of their medical bills. That’s mainly because they didn’t hire an injury attorney and decided to go through the legal process all by themselves. Insurance claims are a little more complicated than what most people think. There are a lot of procedures to follow, especially if the case went to court, and it needs someone familiar with it and knows how to handle the case. 

Here are some facts about injury lawyers and why you should hire one in case you got injured in an accident

Facts About Injury Lawyers

  • Not Only Physical Injuries

Going through an accident can be traumatic even if you weren’t injured. Injury lawyers can help you get compensation for your traumas after an accident. Many people hire lawyers only if they got injured in an accident. However, if you feel that the accident is causing you traumas or any psychological problem, you can consult an attorney and get compensation for all the pain that you went through. 

  • Good Negotiation Skills 

When an accident happens, the other party’s insurance company will bring in a professional to deal with your insurance claim to decrease the amount of compensation you get. That person had years of training and experience in dealing with similar cases and will be able to convince you to settle for the amount they’re offering. That’s why, if you are filing a claim, you should hire an injury lawyer. Lawyers deal with these cases all the time, and they know what should and shouldn’t be said. Your lawyer will not be affected by emotions or anything but the evidence and the fact that you should get all the compensation you’re entitled to. 

  • Not only Car Accidents

Injury lawyers are known for car accident cases. However, injury lawyers can also help you to file an insurance claim or a lawsuit if you’ve been injured from a product, medical malpractice or any situation that you were injured from and it wasn’t your fault. 

  • File a Lawsuit

Although filing a lawsuit in an accident is the least favorite option for many people, some injury lawyers find that taking your case to court is the only option to get your compensation. An injury lawyer will know when is the best time to file a lawsuit, even before the insurance company declines your claim.

  • Settling for the Right Amount 

An injury lawyer will know how severe your injuries are and what other losses you went through because of this accident. Injury lawyers don’t settle for compensation that covers only your medical bills. If you lost your job or had mental health problems, the other party is responsible to compensate you for that, and your lawyer will know the right amount that they should offer and will not settle for less.

Why They Matter 

  • Alternatives

If you decided that you want to take the insurance claim and the legal process by yourself, you will find that there aren’t many options to choose from and eventually you’ll settle for any settlement the insurance company is offering. However, with an injury attorney, you might find new options to follow in order not to settle for a small amount. Lawyers will provide you with different options and you can choose the one that suits you the most. They can also recommend a certain path in order to guarantee that they’ll win your case.  

  • Work Starts After Your Call 

If you have severe injuries, you might find yourself seeking compensation after you recover. That could affect your case and it might take longer than usual because it’s been a long time since the accident; but if you called your lawyer right after the accident, they will work on your case right away. Your lawyer will file for an insurance claim and will pursue your case until you get the compensation even if you haven’t recovered yet. 

  • Medical Help 

Injury lawyer’s deal with injury cases on a daily basis, they will know what medical help you need that ensures fast recovery. So they most likely will recommend the right medical team for your injuries. They will also use the doctors as witnesses in case the insurance company declined your claim. 

  • Less Stress

In most cases, it takes a lot of effort and time to get compensation from the party at fault, so even if your injuries are not severe and you can work on the case, you will consume a lot of time and you may not be able to prove that they’re at fault. Hiring an injury lawyer reduces all of that stress and will do the job for you. You will not need to spend all your time gathering information and evidence to prove that the other party is responsible as your lawyer will take care of that. 

  • Focusing on Your Case

You might be traumatized by the accident and you don’t have the ability to think clearly and gather evidence for your case, which could affect your claim. However, when you contact an injury lawyer right after the accident, they will tell you exactly what you should do and what evidence should be taken. This will help you to have a clearer vision on your case and you’ll know what steps should be taken.

You don’t need to hire an attorney to take your case to court, but the other party will have a professional team to prove that they’re not at fault or that the amount they’re offering is enough. That’s why you should hire an injury lawyer to analyze the situation, gather the evidence needed and prove that the other party is at fault, and ensure that the amount offered will cover your medical bills along with any other expenses you experienced because of the accident. 

How to Better Manage Your Business’s Finances

Getting on top of your finances, balancing your books, and squeezing out higher profit figures are key elements that successful businesses possess. Indeed, without a core focus on the cash coming in and going out of your company, you’ll be left in the dark regarding how you can improve upon your current business model, pricing, and service. In this short article, you’ll learn how to better manage your business’s finances, enabling you to focus back on reducing your overheads, boosting your sales, and generating higher profits for your business.

Hire a CFO

Having expertise by your side can help you when it comes to managing your finances. If you can hire a Chief Financial Officer to work with your company’s financial data, you’ll be able to delegate much of the work, and the thinking, to a professional who knows exactly what patterns to look out for in your balance sheets. Hiring a high-grade CFO can be difficult, as these skills, and the experience necessary to help your company, are in short supply. As such, you may find you have more luck in poaching another company’s CFO to help you with your own finances.

Accounting Software

When it comes to the pure numbers inside your business account, you should be running these through any one of the hundreds of accounting apps and websites available for your business. Some of these programs are free; others, with more features, cost a little in monthly subscription fees. In either case, here you’ll have a simple run-down of your financial figures, which you and your management team will be able to consult instantly if you have financial queries or concerns. With the numbers run automatically, synced to your accounts, this can save you hundreds of hours a year in accounting labor.

Understanding Your Stock

Remember that the amount of money in your company account is only one reflection of the cash you’ve made over the course of your business’s lifespan. The other part of your investments – or a significant amount of the money you’ve spent – is tied up in stock. These capital investments, all of which you can expect to shift on for a profit at a later date, need to be added and considered in your overall financial performance review. You can use an inventory management software to help you determine the amount of stock you have in your warehouse – and its value when sold.

Reducing Overheads

One of the main difficulties in driving ever-higher profits is in taking down the costs through which you and your business operate. You may be focused on making as many sales as possible, but these will mean little if you’re paying off a portion of your profits towards other businesses, third parties, and outsourced agencies that are charging for promoting your products. Take a step back and consider what you can do to cut all but the essential running costs of your business. From there, you can make long-term strategic investments that matter, all while running a tight budget across the financial year.

There you have it: some key tips to help you better manage your business finances.

Blockchain: Everything You Need to Know

The blockchain or blockchain is a mechanism that goes far beyond the exchange or payment in digital currencies and that can be very beneficial for SMEs. We tell you how!

Surely more than once you have participated in conversations related to cryptocurrencies. Above all, because the most famous, Bitcoin is increasingly present in our lives.

But although it is what almost everyone refers to, the most interesting thing about this type of electronic money for business is not so much in the name or value they have in the market, but in the structure of how they are generated.

That is what is called Blockchain or blockchain, and it is what we want to talk to you about today.

By keeping all the movements also recorded, a reliable mechanism is created regardless of the type of transactions that are discussed.

This system is like the Internet, nobody and nothing owns it but everyone can use it to make their payments. It is true that the change and decentralization of the financial system is a fact that can seem very appealing. With this action, the banks will almost be said goodbye and they will be left without any influence on society.

BLOCKCHAIN BEYOND BITCOIN: ETHERUM

Etherum is a cryptocurrency and the foundation of an organization created by a 21-year-old, this is a non-profit entity. Vitalik, who is the name of this boy, has an ambitious project in hand since with the application of the blockchain he intends to turn Ether into the base of a decentralized structure.

He already has several developers working with him on his team and this idea aims to go further and become the revolution of this type of digital money. So much so that it could be applicable to any service or product, always through the application of the blockchain. If you want to get more information on cfd then find it at cfd trader official site

BLOCKCHAIN IN PRACTICE: HOW PAYMENTS WORK

The operation of this system is very simple. A buyer is discounted a number of digital currencies for a purchase and immediately the seller of that service or object is entered that amount in their cryptocurrency account.

Below you can read all its procedure. Even though the procedure seems excessively simple, you will surely still have a few doubts about the blockchain process:

• Payment verification. Even though it may sound strange, this verification is carried out by millions of people around the world. Since the blockchain is a gigantic database in which all operations are registered.

• Transaction. The previous point can be a problem for many, since if one and all can verify the transaction they can also know the value of what was purchased. In this case, cryptography, the security system that protects from bad intentions that third parties may have, comes into operation.

• Birth. Digital currencies are born from 0; they are not created from the value of gold or another currency. But of the will that a person has to lend the processor of his computer during a certain time. And this is done because the system requires supports to carry out cryptographic calculations and maintain security.

BLOCKCHAIN FOR SMES: HOW IT WILL IMPROVE YOUR EFFICIENCY

Currently only the big finance, banking or insurance companies, from important sectors, use the famous blockchain. Yes, banking and insurance, the ones that for all time seems to be contrary to blockchain and cryptocurrencies.

They are those that have the resources and infrastructure necessary for the application of this technology.  But as useful standards are developed for small and medium-sized enterprises, the possibility of benefiting from this system will increase.

For SMEs to fully enter the use of cryptocurrency and the blockchain, it is necessary for a single person to see the potential of this. From there, adapt it to your needs and company so that you can take advantage of all the advantages it offers.

In addition to improving its efficiency, and having control of all its transactions, the blockchain has a high-performance security system, which protects the data of all users who make a purchase and those of the company.

How Is Bitcoin Created and How It Is Used?

Bitcoin mining is a set of very complex computer calculations that encrypt each transaction. It is thanks to mining that the exchanges made in Bitcoins are encrypted and therefore secure. To mine Bitcoin, you will need to arm yourself with very expensive computer equipment. Likewise, the energy cost of the process is also very high. If you are interested, check out our file to learn more about Bitcoin mining.

You will understand: Bitcoin is only the result of a large-scale computer calculation performed by hundreds of computers. As with silver and gold, and with all traditional trading currencies, the amount of Bitcoin that can be mined is limited. Satoshi Nakamoto voluntarily imposed a limit in the Bitcoin code. It is indeed impossible to exceed 21 million units of Bitcoins: the computer code of the blocks of the Blockchain simply does not allow it. It is estimated that the limit will not be reached until 2140. In short, we have time to see it coming.

How to buy Bitcoin?

To buy Bitcoin, or a fraction of Bitcoin, it’s pretty simple. All you need to do is go to an online trading platform. Most of these platforms are accessible through an app available on the Google Play Store or the App Store. There are many bitcoin currencies for the Trade Bitcoin.

Coinbase

You are advised to opt for Coinbase first. It is the simplest and most accessible platform to provide you with cryptocurrency. However, its transaction costs are among the highest. Besides, it’s the ideal application. With a few clicks, you can exchange your Bitcoins; convert them to Euros, Ether, Bitcoin Cash (an alternative to Bitcoin born from the Blockchain) or Litecoin. The app keeps track of the prices of all available cryptocurrencies. On the other hand, if the price of Bitcoin soars, the app is regularly down and it is difficult to carry out any transaction. To register with Coinbase, you will need to link a bank card. Each transfer must be confirmed by your banking application or by an electronic box.

How to make money with Bitcoin

There are several methods to grow the Bitcoins you have purchased. Experts have defined several ways to invest in cryptocurrency. Depending on your goals, your initial bet and your greed, you will need to define your investment tactics. Likewise, you can decide to bet on the short term or on the long term. Before continuing, we remind you that each investment involves a risk. So do not invest more than you’re willing to lose in the operation. There are no guarantees.

Bitcoin

If you wish to bet on the long term, we will advise you the method of “Hold”. Deposit a small amount in Bitcoin, forget it for a few years and then come back to see if your initial bet has made small. Nothing prevents you from taking a look at the price and trends from time to time but in any case, you will not be reselling your Bitcoins. In this tactic, you first define a sum from which you will consider selling.

More risky but sometimes more fruitful, the trader’s method consists of buying and selling in a short period of time. You buy a fraction of Bitcoins when the price is lowest, and you resell when the price is highest. To achieve your goals, you will have to try to predict the market price. If you have strong nerves, you can try it. One another widely used tactic is regular investment. Each time the price drops, you deposit a small sum. This is an alternative method, halfway between the “trader” and the “hold”.

What can I buy with Bitcoin?

Do not believe that Bitcoin is only used to speculate. Cryptocurrency can also be used to shop online. Currently, 100,000 websites accept Bitcoin as a trading currency.  It also accepted payment in Bitcoin.

High cryptocurrency stocks are a big drag. An online also allows exchanges and transfers directly from its application. Some sites even offer gift cards to offer Bitcoin at Christmas. You will understand, Bitcoin is spreading everywhere and this is only the beginning

Four Tips on Finding the Best Foreclosure Lawyer

Is the bank about to foreclose your property as a result of delayed payments? You must be extremely anxious, looking for a solution that would yield positive results. However, there’s no reason to panic, as you can hire professional legal assistance, in the form of a foreclosure lawyer to provide a successful outcome. 

Nowadays, there’re numerous legal assistance providers, such as Fine Law Offices, providing their clients with legal advice in any type of bankruptcy situation. In fact, these professionals are capable of legally retaining your property or in the case of hopeless bankruptcy, to reduce the financial damage.

These tips will help you hire the best one.

Analyze your situation

The most reasonable way of dealing with the foreclosure is analyzing your financial situation prior to taking any further step. Start by reviewing the pile of letters that have arrived from the bank in order to check if the institution has commenced a legal procedure against you. If that’s the case, look for a deadline of when the procedure is due, as the bank is obliged to notify you before foreclosing your house. 

After being absolutely certain in the forthcoming legal actions of the bank, it’s time to assess your financial situation realistically, so as to decide whether to give up the house or to hire legal assistance and fight to keep it. Comparing your assets to your debts is the most efficient way of making the right decision. If you’re deep in the red, then bankruptcy would be a wiser solution. 

Regardless of your actual situation, a foreclosure attorney might help you in both cases. He/ She may help you preserve your home if it’s feasible to reduce the debt. Also, in case you can’t afford to keep the house, the lawyer will work out the best way to get you out of the mortgage, with the slightest financial damage.

Look for a lawyer

Looking for a foreclosure attorney may prove to be a more arduous process than hiring a general lawyer, as you’d need a real expert in this area. However, you can ask the latter one for a referral, as these professionals tend to know the experts in each field of law. You need a professional who has specialized in the foreclosure field. Click here to learn more about this legal procedure. 

Another way of finding an attorney is by asking around, in order to find a friend, colleague or a family member who has been through an identical procedure. It’s perhaps the best way of gathering useful information about potential candidates.

In addition, another efficient way of locating prospective candidates is by conducting an internet research. Make sure you don’t extend the research out of your local area, as you’d need a professional who is familiar with the local court system. Also, it’s crucial for the potential candidates to be members of the national bar association in order to facilitate your search. 

Check its reputation

Prior to scheduling any consultation, it’s paramount to check the reputation of all candidates. Most important of all is for the attorneys not to have any disciplinary action against them. Do a thorough research on every candidate in terms of experience, won cases, prizes, or possible complaints. 

In case you notice some dodgy aspect about any of the lawyers, you’re supposed to disregard its services at once. Online reviews and referrals from previous clients might prove to be helpful in learning valuable information about their reputation.

Have a meeting

The final step prior to hiring a foreclosure lawyer is meeting him/her for an initial consultation during which you’re supposed to explain your case and be provided with legal advice. Apart from analyzing the case, make sure you enquire about its fees. 

In fact, some attorneys charge a flat fee for the complete procedure while others have an hourly tariff. Ask which services are included in their fee, in order to avoid unexpected surprises as the case evolves. Visit the following link: https://medium.com/lifelawyer/preparing-for-an-initial-consultation-with-an-attorney-cd28b41ab49a, to learn how to prepare for your upcoming initial consultation.

Wrap up

If you’re faced with a foreclosure procedure, don’t be desperate. 

Hiring an attorney would be the wisest solution! 

Here Are 5 Must-know Tips While Hiring a Business Accountant Consultant

Any business requires resources for it to thrive. One of the most distinct aspects of a growing business is having all the accounts section in the right order. Having an accounting software isn’t enough as you’ll require skilled personnel whose value goes more in-depth than crunching the numbers.

A professional business accountant is a great asset to any institution as they offer immense intimate knowledge regarding all matter’s finances and much more. Have you been searching for a great business accountant consultant? Here’re must-know tips that you must know. 

  • Stick to your needs

Each business set has its distinct requirements set up. Therefore, as you are scouting a business accountant, you need to know if they are up for the task. You ought to figure out if you require weekly financial statements, booking keeping, or any other accounting and financial planning services. Looking at your needs acts as a roadmap to making the most exceptional financial choices as you watch your company blossom. 

  • Experience

You ought to have an experienced enterprise accountant by your side to forge a long-lasting relationship. It’ll enable you to work with a skilled individual familiar with the financial intricacies of your enterprise. It’s also a chance to work with an individual who’s familiar with economic challenges and can be able to maneuver through them seamlessly. Thus, you can get to work with one who’ll offer you the ideal financial choices at all times.

  • Charges

Hiring a business accountant often comes at a cost. Some accountants charge every month while others not so much.  Therefore you ought to be familiar with how they intend to bill their services before bringing them on board. It’ll enable you to have ample time to check out various charges from different expert accountants and choose one that suits your budget. You also need not settle for the final cost they present. You can always negotiate how you intend to pay them, depending on your cash flow. 

  • Be choosy

When it comes to working with the best accountants in their field, you ought to be critically selective. You ought to conduct various interviews and see what they bring to the table. It’ll enable you to weigh their services and choose the best candidate to introduce to your team. It’s normal to feel a little discomfort during this time; however, don’t loosen the belt. Being ruthless during the selection period ensures you don’t set the bar below as your financial aspect of a business depends on it entirely.

  • Recommendations

At times looking for the best candidate on your own is not only straining but also tiresome and overwhelming. You can ease the process by consulting with other enterprise owners on the matter. Getting the ideal recommendation from your peers can help out big time.

As a business owner, you can never underrate the power of having an ideal accountant. It’s often a chance to get all your accounting and financial planning into the right perspective for business growth. Try following the above tips when you intend to hire a reliable accountant, and you’ll become amazed by the results. 

When to File Bankruptcy: A Brief Guide

In 2018, the American household debt hit an all-time high of 13.21 trillion dollars

It’s no wonder so many people find themselves in financial hardship, struggling to pay off the overwhelming amount of debt they have accumulated. Fortunately, those who are drowning in debt can give themselves a second chance at a successful financial future by filing for bankruptcy. 

While filing for bankruptcy is an option, it’s not a decision to take lightly as there are pros and cons for filing. If you are considering bankruptcy but are not sure it’s the right one for you, read on for a guide on when to file bankruptcy.

What Is Personal Bankruptcy?

Personal Bankruptcy is an option for when you have too much debt and cannot meet your obligations to your creditors. 

There are two types of personal bankruptcy you can file:

Chapter 7: you will use your liquid assets to pay what you can and the rest of your debt is discharged. This type of bankruptcy stays on your credit for 10 years. 

Chapter 13: you agree to pay some debt by following a 3-5 year repayment plan. After you have completed the repayment plan, any remaining debt is discharged. This type of bankruptcy stays on your credit for 7 years. 

Filing bankruptcy will impact your financial standing and your borrowing abilities for many years so it’s important to file only if necessary. Here are 8 reasons why filing may be the best choice for you. 

You Cannot Catch Up On Your Bills

Skipping a payment every so often is one thing but if you cannot seem to catch up on your bills, you are dealing with financial hardship. If you are not able to pay your bills or keep up with payment arrangements, you will be faced with late fees, shut off notices and collection calls. 

Filing bankruptcy will put you back on track so you don’t have to live in fear of the essentials, like utilities, being shut off at any moment. 

You Can’t Afford Minimum Payments

One sign of when to consider bankruptcy is if all of your cards are maxed out and you cannot afford to pay the minimum payments. By missing the minimum payments, you are putting yourself in a deeper hole that will harm your credit, which affects your financial future. 

Filing for bankruptcy will take care of all of those bills so you can move forward and start rebuilding your financial life.

You’re Getting Daily Calls From Collection Agencies

If your phone won’t stop ringing from all the calls from your creditors, it may be time for a change. Once your financial situation gets to the point where you are being hounded by collection agencies, you may find it is too deep a hole to climb out of. 

Thankfully, those collection calls and letters will stop once you file bankruptcy, giving you peace of mind, along with your fresh start. 

You Are Using Payday Loans Every Pay Period

While getting a payday loan can be helpful in the short term, it’s dangerous in the long term. You qualify for a payday loan by allowing the lender to automatically take the loan amount, plus an exorbitant interest fee, from your upcoming paycheck. 

Payday loans are typically used to pay something right away, meaning, your upcoming check will be short the amount of the loan and interest, which will likely cause you to need another payday loan to be able to pay your bills. It’s a vicious cycle, one that seems impossible to get out of and one that will ultimately catch up to you when you are not able to pay. 

If you find yourself not only living from paycheck to paycheck but living from payday loan to payday loan, it’s time to make a change and filing for bankruptcy may be the change you need. 

You Are Using Your Retirement Funds To Pay Bills

Another sign of when to claim bankruptcy is if you have cashed out your retirement fund to pay your regular bills. There are emergencies that may require you to take a loan from or cash out your retirement fund, but that should only be a last result for an emergency. 

While retirement may seem far away, it’s important to start saving now to make sure you are comfortable and secure during your golden years. If you have had to resort to using these essential funds for your monthly bills, your financial situation has gotten out of hand and needs to be reassessed. 

Your Wages Are Being Garnished

If your creditors have sued you, won and are now collecting via wage garnishment, you may need to take some action. 

Having your wages garnished is a scary thing, especially if you were living paycheck to paycheck before the garnishment occurred. With a wage garnishment, you may resort to getting a payday loan, draining your savings, or cashing out your retirement funds, which will only result in further financial hardship.

If you file bankruptcy, your wage garnishment will be reversed, allowing you to be able to take home your full paycheck and get back on your feet. 

Your Dependants Will Suffer If You Do Not File

If you are struggling to keep your head above water and you have people who depend on you to survive, it’s time to consider your options. While it’s admirable to want to get yourself out of a situation, there is nothing wrong with recognizing when you need help. Getting the help you need will give you peace of mind that you can take care of the people who are depending on you. 

You Are Experiencing Stress, Anxiety Or Depression

Stress, anxiety, and depression due to financial hardship can be debilitating. It can make the problem worse by causing you to feel too overwhelmed to help yourself out of your current situation. If you are experiencing any of these feelings due to your financial situation, it’s time to get help, for both your mental health and your financial future. 

When To File Bankruptcy: The Bottom Line

If you have been wondering when to file bankruptcy, this guide can help you make the decision. If you are experiencing any of these financial issues and feel the stress and anxiety of trying to keep your head above water, it may be time to file and give yourself a fresh start.

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The Pay Stub Abbreviations You Need to Know: A Helpful Guide

up close of paystub

Financial experts are predicting that the Corona Virus is going to cause a recession in the United States. 

During these uncertain times, it’s more important than ever to pay close attention to your financial details. If you haven’t bothered to review your pay stub generator in a while, this is a great time to do that. 

But, before you get overwhelmed by all the pay stub abbreviations, keep reading so you’ll know exactly what your pay stub says. 

FWT or FITW

When viewing your pay stubs online, you’ll find that a lot of the abbreviations deal with deductions. The first abbreviation that might catch your eye is FWT or FITW. 

The number beside this abbreviation represents your Federal Withholding Tax or Federal Income Tax Withholding. This is the amount of money that is taken out of your check and is sent directly to the federal government. 

SWT or SITW

The next paycheck stub abbreviations you may come across are SWT or SITW. These abbreviations stand for State Withholding tax or State Income Tax Withholding.

Similar to your FWT, this is the amount of money that is taken out of your check and sent to the state government. This number is usually much smaller than your federal withholdings. 

If you don’t see these abbreviations, don’t panic. You may live in one of the nine states that don’t collect income tax. 

INS, MED, SS

There are two other common payroll abbreviations that you might find listed with your deductions. These abbreviations are a little more obvious but are still important to know. 

INS represents the amount of money deducted for your insurance. This number can vary greatly depending on your workplace’s plan, your amount of coverage, and if you have any dependents under your insurance. You should be reviewing your insurance needs yearly to make sure you’re covered adequately but not paying too much. 

Next, you may see the abbreviations MED or SS. These represent the education for Medicare and Social Security. Nearly all paystubs will have these deductions. 

401K or RET

Finally, the last paycheck stub abbreviations you may see are 401K or RET. This represents the voluntary deductions you have set up for your retirement plan. 

If you participate, you’ll see a certain percentage of your paycheck deducted for your retirement each month. 

Along with your retirement withholding, if your employer offers a match, this should be listed as well. If you don’t see any information regarding the company’s match on your payroll, you may want to check if you qualify.

Know Your Pay Stub Abbreviations

These are the main pay stub abbreviations you’ll come across when getting paid.

If you come across any other abbreviations or are unsure about any aspect of your pay stub, don’t hesitate to reach out to your HR department. One of their main jobs is to answer any and all questions you may. When it comes to your paycheck, it never hurts to double-check that the details are correct! 

Looking for more ways to take control of your financial future? Browse some more articles for personal finance advice today.

The Best Business Loans for Bad Credit (That You Haven’t Heard About Until Now)

Nearly a third of Americans have a credit score lower than 601. When you’re stuck in a position where you have bad credit, it’s important to keep your business going, which might have you looking for business loans for bad credit.

Credit mistakes can haunt you for years to come, so can you find a lender that will take a chance on you? We are here to show you some lenders that are willing to offer credit to you even if your score is less than flattering. Continue reading this article to find out the best business loans for bad credit that you didn’t even know where available.

OnDeck

Do you have a new business and need a short-term loan to get going? If this sounds like you, then OnDeck might be the best lender for your situation.

When using OnDeck, you can borrow between $5,000 to $500,000. If your credit is extremely bad, this loan might not work for you, but if it is only slightly hurting you might be able to still make it work.

You’ll need at least a 600 credit score, 1 year in business, and $100,000 in annual revenue. You’re also looking at paying interest of 9% to 9.99% depending on your loan term.

BlueVine

BlueVine is perfect for businesses that have cash flow gaps and don’t have inventory to borrow against. BlueVine uses invoice factoring to give B2B businesses the money they need when they can’t wait for their clients to pay their invoices.

The application process is simple, and approval usually takes around 24 hours. Check to see what the specific criteria are for the invoices due to your company. One of the factors is that it must be over $500, and have a certain due date. 

If you have a credit score of 530 or higher, at least 3 months in business, and $10,000 in monthly revenue, you could qualify for this cash.

Accounts Receivable Financing

If you have bad credit, one of your options is accounts receivable financing. When your business needs working capital, accounts receivable financing is a proven method to get the money you need.

When your business has a cash flow problem, you can’t expand as you need to even when there is a great opportunity. Accounts receivable financing can help your business avoid stagnation. There are companies that are glad to work with you even if you have bad credit because the invoices are there to mitigate the risk.

You can speed up your cash flow and get things done without going into debt.

Securing Business Loans for Bad Credit

Now you know more about your options when it comes to business loans for bad credit. Instead of feeling stuck and worried that your business is going to go under from a lack of capital, you now have options to make your business thrive — even through hard times.

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