Five Issues Every Employer Faces from Its Employees

Thinking about becoming a boss is really cool. After all, higher income, you get extra perks, an office of your own, and few people treating you with respect is what everyone desires. However, all this doesn’t come free. You have to work really hard for a long to get to this position.

Even after you have reached this position, there are many challenges to face. It’s not just that you have to take care of business planning and taking big steps; you also have people inside your firm pulling you down. This article discusses some of the behaviors of such people who are your own employees.

Not Staying Motivated

Although it’s not meant to harm you and even the most loyal employees can face this, but it harms the employer the most. You will see that people easily get discouraged or bored. You might give them a raise and then a few benefits, but all that motivation wears off after a little time. Many companies organize motivational sessions where a speaker encourages them all to build their career and the company they are working for.

This is the best an employer can do, and he has to keep doing that. Just completing the target and repeating what they do every day is not going to let the company grow. After all, it’s a competitive age where it doesn’t take long for another business to blow you out of the market.

Trying to Steal Your Employees

In many cases, some people working for you start to discourage other employees. They could be working for another company, thinking about starting their own company or trying to hurt you for some personal reasons.

As a result, you get your most skilled employees leaving your company. You can’t keep hiring and training new people. As a businessman, you need people to stick with you have explored every nook and corner of your field.

Passive-Aggressive Complaining

Some employees, even good performers, just can’t help with their passive-aggressive behavior. You are their boss, and they won’t always like what you say. It becomes a problem for you when they start to sabotage your reputation in your absence.

Some employees have no direct issue with you, but they keep bringing up some unnecessary issues. For example, some might say that taking their biometric and using it for attendance hurts their privacy. There even have been cases about employee privacy rights in Australia. This shows that everyone has freedom, but unnecessary demands keep wasting your time and hurt your business.

Office Politics

No matter how much you avoid it, you just can’t ignore office politics. You won’t be a part of it, but there will be some ‘politicians’ working as your employees. They sabotage the productive environment of the office.

They engage everyone in unnecessary activities and make it difficult for loyal and skilled employees to work. These are the kind of people who know they don’t have any real skills of their own, so they deceive others to keep their place.

False Discrimination/Harassment Charges

Discrimination and harassment are, without a doubt, very bad no matter where they are practiced. These things should not be tolerated and the perpetrator should be punished for his/her actions. Unfortunately, some people even use this to their benefit by filing false charges.

An employee and employer won’t always get along. There are times where the employer has to ask for an explanation, point out mistakes, or terminate someone. Some employees say they are being discriminated against when they find themselves in such a situation. Many even lie about getting harassed just to get money out of the pocket of their employer.

5 Wise Ways to Invest Your Tax Refund

It’s the happiest time of the year for those expecting a big refund check from the IRS. After a year of hard work, it’s a great feeling to have a small windfall to take advantage of to your benefit. Having some extra cash from your tax refund can be helpful to many families. Deciding what to do with your rebate should involve some careful consideration. There are several intelligent investment options from which to choose.

Money experts like Godfroy Financial Limited would recommend using your tax refund to secure your financial future. From bulking up your emergency fund to paying down your debt, having the fortune of a fat tax refund check can be a blessing. Let’s look at a few wise ways to invest your tax refund.

Emergency Fund

If living through a pandemic has taught us anything, it’s that being prepared for an economic emergency should be a priority. Many families were caught off guard financially over the last year, and it’s become critical to plan for a solid future. If you already have an emergency fund, now is the time to add as much as you can to your savings. If you establish a new emergency fund, using your tax refund as a first deposit is a good decision.

401K Contributions

Saving for retirement is a smart financial move at any age. If your current 401K contributions are at a minimum, now is the time to use your refund to give your savings a boost. Talk to your financial advisor about increasing your monthly contributions to enable you to maximize your yearly contributions.

Pay Down Debt

Carrying debt, especially those with high interest, can be like having a dark cloud following you. If you are expecting a good tax refund, now is the time to take care of some of those outstanding balances. Pay down all of your high-interest credit cards or loans and free up some additional spending money that can be used for everyday expenses.

Home Projects

Do you have a toilet that needs to be replaced or a driveway that needs to be resealed? Using your tax refund to help fund some of your more expensive home repairs is a great way to get ahead of your maintenance chore list. There is no need to put off all of those small or large projects when you take advantage of the extra money that your refund will bring in. Keep in mind that completing your home renovation projects could increase your home’s value, meaning that you will get a great return on your investment.

Donation

As a dedicated member of your community, you may want to dedicate some or all of your tax refund to the benefit of others. Every community needs help in some form. Talk to your community leaders, church leaders, or charitable organizations about how you can make a tax-free donation with your annual refund.

Each year when you get your tax refund, you should consider how you will use those extra funds. Try some of these suggestions to help you make a wise money decision with your tax refund.

What to Do If You Run into Money Problems When Traveling

Running into money problems like losing your debit card, having your wallet stolen or even completely running out of money are all issues that most of us will want to avoid when traveling, but sadly, they can happen to anybody. Money issues when you are in a strange country can be scary, but the good news is that there are several things that you can do to fix the situation and ensure that you’re able to get to where you need to be.

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Ask a Friend or Relative for Help

If you have run out of money and are traveling or have had your wallet with all your cash in it stolen, you may want to ask a friend or relative if they’d be able to help you out with some cash. If you still have your bank card with you, they can send money directly to your bank account so that you can withdraw it at a nearby ATM. If your bank card has been lost or stolen, you can ask them to send money online using a money transfer app that has locations in your area where you can easily pick up the cash.

Find Paid Work

If you are traveling long-term and you’re able to work in the country that you are currently visiting, finding some temporary work is an easy way to make some additional cash. Depending on where you are visiting and the current season, you may be able to find a day or two of paid work on a farm or in a local restaurant, for example. Manual jobs like cleaning might not be the most glam, but they are often easy to find and can be a good way to recoup some of the cash you’ve lost on your trip.

Get an Online Gig

If you have enough money to get you through the next few days and you are traveling with your laptop, you may want to consider finding an online gig that you can do from your hotel or hostel room easily as long as you have Wi-Fi. If you have a skill like writing, web design, graphic design, or resume writing for example, you can often find short-term paid online gigs on sites like Fiverr.

Consider a Short-Term Loan

If you have overspent and run out of money while traveling, or have encountered an unexpected expense that has left you without enough money to continue the rest of your trip, you may want to consider getting a short-term loan. These loans are usually available for fairly small amounts, can be paid back in full or over several instalments and will usually be paid into your account on the same day. However, it’s important to always borrow responsibly and only ever take out a short-term loan if you are certain that you are going to be able to repay it on the dates agreed.

Running into money problems when you are traveling isn’t a great experience, but there are several things that you can do to get back on track and make sure that you’ve got enough money to cover the rest of your trip.

How to Survive Market Volatility as an Investment Manager

The economic fallout of this recent pandemic is something that no one can fully predict. Despite the positive signs of a strong market recovery that we are now seeing, we are still a long way to go from a robust economy. Nevertheless, changes happening on the market and the volatility that comes with them are not always bad.

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For investment managers who are guiding clients to maintain healthy portfolios, market volatility is something that can be managed. As long as the right variables are taken into account when making investment decisions, the best investment managers can grow alongside their clients. You can too with these tips we are about to discuss in this article.

Manage Costs and Revenue Better

Just like other professions and businesses, one of the best ways to remain agile in today’s market for investment managers is through better cost and revenue management. A cost management strategy that helps reduce unnecessary costs while keeping the necessary ones in check is a must here.

A way to manage costs is by documenting everything and then doing a thorough review of your costs as an investor. With the data collected, you can begin identifying investments that require more resources to make (more market research, additional data, etc.) and grouping them with investments that by nature incur fees and additional costs.

For revenue, the strategy to adopt depends on whether you are servicing a lot of clients as an investment manager. You should consider integrating billing and revenue management solutions into your workflow to allow for more flexibility.

A good example is managing the fees you charge clients. Complex fees are not always easy to calculate, but a capable revenue management system can automate the process easily. The same revenue management tool can also automate the creation of invoices and reports, which means you have to free up resources to allocate on other tasks.

Data Is Key

The one thing you should never skimp on, especially in a volatile market, is data. You want to be extra certain that every decision made is a calculated decision, and the only way you can do that is by incorporating solid data into the decision-making process.

Fortunately, there are more sources of data to tap into, even in today’s market. More importantly, business intelligence and data management tools are not only easier to find, but more affordable thanks to their SaaS business model.

Manage Your Risks

The last piece of the puzzle is risk management; more specifically, automating risk management. Similar to managing costs and processing market data, there are ways to automate risk management using systems and investment solutions.

That said, you also need to rely on a strict risk management policy to survive a volatile market. When you make decisions based on calculations and policies, even the wrong decisions are easy to learn from. Long-term growth is easier to attain this way.

You now have everything you need to survive the volatile market as an investment manager. As long as you have the right tools and data at your fingertips, you can continue making healthy investment decisions for you and your clients.

4 Tax Mistakes Small Business Make Too Often

It’s normal for new businesses to make errors. However, there isn’t much margin of error when it comes to taxes. For many small business owners, unfortunately this is the part they understand the least. This leads them to make errors that could at best result in money lost, or legal troubles in a worst-case scenario. Let’s take a look at a few tax mistakes small businesses commit way too often.

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Not Keeping Receipts

One of the biggest mistakes that you can make as a small business is not keeping receipts. If the IRS notices something suspicious on your reports, they may ask for an audit, and that means that you will have to show proof for any expenses. Some may assume that their credit card statements can work instead of receipts, but that’s not always the case. The IRS will want to see receipts for certain things, and if you can’t produce them, it will make the process complicated and long.

Another major issue is not tracking taxable activities properly. For instance, you are required to keep a mileage record for vehicles in your fleet. If you aren’t, you can kiss that business driving deduction goodbye.

Not Working with a Professional

It’s a big mistake to assume that you can do your taxes alone and that working with an accountant is an unnecessary expense. It is often advisable to hire a small business accountant to help manage your books and accounting while you focus on your business. If you’re located in Florida, a Florida CPA will be able to help you not only keep your books in order, but inform you of any scheme of benefits you may have access to. This is something that could instantly affect your bottom line.

A CPA will be able to ensure compliance. They may also be able to tell you about anomalies in your books or ways that you can run a more efficient operation. A good accountant is one of the first people you need to work with as a business owner if you want to avoid trouble and keep your finances under control.

Mixing Your Business and Personal Expenses

This is another very common mistake that businesses make. When you mix both your business expenses and personal ones, you might miss out on a business deduction, or you might mix up personal and business expenses. To keep things clear, make sure that you have a separate credit card and bank account for your business and personal purchases. Also, consider switching to an LLC or corporation if you’re operating as a sole proprietorship.

Claiming Deductions will Trigger an Audit

Claim all the deductions that you can. You should never leave money on the table out of fear that it will trigger an audit. Not only should you not fear an audit if your books are in order, but there’s no deduction that is more likely to trigger an audit than others.

If you’re a budding small business, make sure that you avoid these mistakes at all costs. This will allow you to not only stay out of trouble with the IRS but also run a much tighter ship.

How Express Made a 400% Leap

One stock you may not have heard about that was swept up in the stock-buying frenzy was Express, a mall retailer that perfectly profiled the small-cap stock that the Reddit forum, WallStreetBets, favored. This stock took off like a track star leaping off running blocks. Its 400% leap, startled Wall Street’s elite billionaire investors, causing them to appeal in desperation to the SEC to stop the Reddit-based retail investors from seizing the day with their unorthodox but perfectly legitimate crowdsource-like tactics.

If you wish you could have got in on the action when it was unfolding, then you should prepare yourself for something as spectacular happening again in the future by paying down your debt to a zero balance and setting S.M.A.R.T.E.R. financial goals. 

Paying Down Your Debt to Zero Balance 

It may seem absurd to talk about paying your debts down to zero when you consider yourself lucky just to pay off even a small portion of your credit card balance every month. If you’re in this dicey situation, there is a way out that you may not have considered: Getting a consolidated loan. This is an unsecured loan that is substantial enough to pay off all your credit cards at once.

Repaying a consolidated loan is easier than paying off each credit card one at a time because you will pay a lower interest rate and only pay an amount that works with your budget.

Consumers can also use installment loans to build credit and reduce debt. These are short-term loans that can be repaid in small installments. You can receive up to $2,000 to pay off credit cards with the highest interest rates and pay the loan off in a more practical and affordable way. 

Set S.M.A.R.T. Financial Goals 

As you’ve probably guessed, S.M.A.R.T. does not refer to a more ingenious way of setting goals — although it is more multilayered than most goal-setting methods — but is an acronym.  Briefly, S stands for “specific,” M stands for “measurable,” A stands for “actionable,” R stands for “relevant,” and T stands for “time-bound.” 

While this goal-setting framework is often used by corporations to improve their bottom line, you can borrow it to improve your own personal finances. The reason it’s more effective than most goal-setting methods is that it forces you to clearly outline your aspirations, which, of course, increases your likelihood of achieving them.

Let’s take a closer look at how this goal-setting method can be used for financial goals:

  • Specific: A specific goal is one that clearly states amounts, dates, and actions. The more specific you can be, the easier it will be to plan what actions to take to achieve your goals. An example of a specific financial goal might be:  “I will have $10,000 in my savings account by January 1st, 2022.” 
  • Measurable: You need to set a benchmark and decide on milestones on your way to achieving goals. 
  • Actionable: Decide on a course of action that will help you achieve your goal. For instance, if your goal is to save $10,000 in a year, an action step you could take would be to save $27.40 every day. 
  • Relevant: A relevant goal is realistic, measuring realism by past performance. For instance, you’re unlikely to make six figures within a year if you are currently only making $25,000 a year. A more realistic goal would be to make $50,000 a year, perhaps $25,000 from your current job and the other $25,000 from a passive income stream. 
  • Time-bound: A goal should have a deadline, otherwise it’s just a wish. It doesn’t matter if you don’t hit your deadline, but trying to reach it will cause you to try harder and make more progress; and, if you don’t meet your deadline, simply said another one. 

In summary, position yourself to have the money you need to jump in on promising future stock market investments by paying off all your debt and setting S.M.A.R.T. financial goals for the year.

Why Don’t People Save Money And How To Get Over Problems

Around 25% of people in the US have zero emergency savings. If this is you, there is a huge possibility that you are at a high financial risk. Saving money is something that most people say they want to do but there are reasons why it does not happen. The very common excuses are:

  • I cannot save money.
  • I do not know how saving should be done.
  • There is not enough money available to save.
  • I do not have the information needed to save.

The problem is that all of these are excuses. Saving money is always possible. Things are quite simple in fact. This is different than being accepted for large business loans. If you want to go over financial problems, you need to save money. Here are some ways to do just that.

Pay Off Debts

You might think this is not saving but as you remove debts like credit cards and student loans, you quickly realize the fact that you have more money to save than what you initially think. Money that you now use to pay debt can actually be added to a savings account. Focus on paying off debts first, before you do anything else.

Build An Emergency Reserve Fund

Try to build a fund that is as large as around 3 to 6 months when calculating expenses. Obviously, this is very difficult to do for many. Just try to do it as slowly as you can. After you have an emergency fund set up, use monthly contributions to increase your emergency fund. Auto-deposits can be set up right from the paycheck.

Build Long And Short-Term Savings

The emergency savings accounts should be put into high-yield accounts. With long-term savings, it is better to use something else. This includes funds you would eventually use for a larger purchase, like buying a home. Obviously, you need to focus on short-term savings first. Then, you can move up to longer savings plans.

Max Out Your Retirement Plans

When you work somewhere that offers 401k, try to max it. This is basically free money that you should not neglect, especially if your retirement savings are not as high as they should be. Basically, a good rule of thumb is to match how much money the company offers.

After you do this, try to max out extra retirement savings options. You could contribute to IRAs and look into various other retirement plans that are available for you.

Always Take Small Steps When Saving Money

One of the biggest reasons why people fail as they try to save money is that they do it too fast. You can so easily lose motivation if you do not have immediate results. However, in order to gain financial freedom, you absolutely need to work on it. This means you should take it slow. Every single small step you take is a huge gain in the long term.

Unfortunately, it is common to see that people wait until huge financial problems already exist. Although even then it is possible to start saving, it is easier to do so when you do not have problems.

The 3 Factors That Can Affect The Cost Of Your Insurance Premium

Auto insurance is a fact of life. If you plan to drive a car then you will need to be insured. What many people don’t know is how the cost of their premium is affected by so many things. Some of which are totally out of your control.

Knowing why your premium costs as much as it does is a good way to figure out areas where you can actually save on your insurance. The more you know the more power you have over your insurance. In this article, we will go over what some of those factors are that affect your insurance.

1 – Where you live

Driving a new car off of a Volvo dealer Phoenix AZ lot is going to cost more or less than somebody driving off of another in some other part of the country.

Geography is one of the main factors as to how much you are going to pay. One of the reasons is that there are different regulations that cover auto insurance from state to state.

Even besides what state you live in, there are different prices for the area, too. For instance, some cities that have a high theft rate mean that you are going to pay a higher premium than someplace rural with little chance of your car being stolen.   

Where you park your car will impact the cost of your insurance. If it is street parked then this will raise the cost as it is prone to be in an accident or stolen. Garaged cars will cost less to insure as they are protected from theft and accidents.

2 – How you drive

Your driving record from the past may come back to haunt you when shopping for a new policy. Accidents and speeding tickets go on your driving record and are accessible by your auto insurance company. There are penalties that will follow you around for some years after your infraction or accident.

Even when you have a clean record, your driving habits will affect the cost. Insurance agents will look into how far you drive to get to work and what the route is like. Commuters with long drives in high accident areas will pay more for insurance than those that work from home.

3 – Type of coverage

The coverage that you need is one of the biggest factors and is not the same for everybody. For instance, you may be financing a new car and the financier requires that you get full coverage including fire and theft. This is going to be an expensive policy and there isn’t much wiggle room on the price of the premium.

Once you are done paying off the loan, then you are free to pick and choose the coverage you need. Many people find that they are overpaying for insurance because they are overcovered for their needs and car.

For instance, you may find that having theft coverage for an old car makes little sense since it is not a target for thieves. Or, being covered in the event of a flood when you live in a city that has a high elevation is not necessary.

Make sure that your coverage is only for things that you actually need and you will save a lot.

How To Apply For A Home Loan

It’s time to apply for a home loan once you find a house that meets your budget, needs, and preferences. Applying for a mortgage means selecting a lender and completing an application.

The good news is that the home loan application process has become easier these days, thanks to many lenders now offering online options to interested applicants, however not knowing how to complete the application process correctly may still result in you forgetting to list important details, such as a co-borrower (when required) or your bank account details. Forgetting to include critical information could lead to snafus later.

Follow the following steps if you’re not sure what to expect when applying for a mortgage.

1. Prepare The Required Home Loan Documents

Mortgage lenders will be interested in your overall financial situation, creditworthiness, and employment history. You and your co-borrower will be required to prepare and provide documentation to your lender, to help them verify that information. Documents you’ll want to ensure are ready before completing your application include:

  • Recent pay stubs that cover at least two most recent months
  • Self-employed documentation, including a copy of the most recent year-to-date or quarterly profit/loss statement if you’re self-employed
  • W-2s (Internal Revenue Service tax forms) for the last two years including all pages and relevant schedules of signed business and personal returns.
  • Complete bank statements for the last two months for all your financial accounts, including investments
  • A copy of the signed agreement between you and the seller (Purchase and Sales Agreement)

Depending on the type of home loan you’re applying for, and your own personal circumstances, the lender may require additional documents. As part of the process, the lender will also run a credit report with your permission.

2. Choose The Right Mortgage Type For You

There are different types of home loans. They differ based on the terms of the loan and whether or not the mortgage is government-backed or not. Below are the most common mortgage types and their benefits.

  • 30-year fixed home loan – The interest in this type of mortgage doesn’t change over the loan’s full term. It also gives borrowers the lowest fixed-rate payment.
  • 15-year fixed mortgage – This home loan works the same as a 30-year fixed one. The only differences include a lower interest rate and the opportunity for the borrowers to pay the loan off faster.
  • USDA mortgage loans – the Department of Agriculture of the USA backs this type of home loan. It’s offered in USDA-eligible rural areas and it requires zero down payment from borrowers.
  • VA home loan – This type of mortgage is for eligible veterans, active-duty service members, and service members’ spouses. The US Department of Veterans Affairs guarantees VA home loans. It doesn’t require a down payment or minimum credit score.
  • FHA loan – The Federal Housing Administration is the organization backing FHA loans. These loans require a 3.5% down payment for borrowers with credit scores down to 580. Those with credit scores of 500 have to pay 10% down.

3. Choose The Right Type Of Lender

The best way to select the perfect lender for your mortgage needs is to get estimates from at least three companies offering home loans. To do this, you can make a list of your preferred lenders and talk with a representative from each company. Comparison rate websites can also help if you want lenders to contact you before even submitting your application.

Some options to help you explore home loans are:

  • Banks – Most institutional banks now offer mortgages. If you have a significant amount of savings for a deposit, you may be eligible for a home loan with a lower rate. Keep in mind that banks generally have higher interest rates, not to mention they maintain stricter lending standards.
  • Credit Union – As a credit union customer, there’s a good chance you’ll see lower closing costs and fees reductions as your mortgage commences. If you’re a member, you’ll likely also get a lower interest rate for your home loan. Locating a neighborhood credit union is as simple as searching ‘find a credit union near me‘, and these institutions generally offer lower rates because they operate as non-profit institutions.
  • Mortgage brokers – Choose a mortgage broker if you want more options for your home loan. Mortgage brokers work with multiple loan companies, although it’s important to note that brokers don’t have a say in whether your mortgage is approved or not. The decision when it comes to your loan’s approval and terms will still be in the hands of the lender.

4. Fill Out The Application

The actual application process becomes quick and easy once you’re done completing the steps above. The next step is to decide which method you’ll take when applying. You can apply for a home loan in the following ways:

  • In-person – The in-person mortgage application is the traditional way of applying for a home loan. You’ll visit the lender’s office and talk with their loan officer.
  • Over the phone – You can also apply by phone. You’ll speak with a loan officer who will walk you through each of the application’s sections.
  • Online application – Many lenders also now offer online application options to potential borrowers. You can use your desktop, laptop, or smartphone to fill out the application form.

Final Thoughts

The lender or broker (if you chose to work with a mortgage broker) will keep in contact with you regarding your application’s progress once you’ve completed all the steps listed in this post. If you’re approved, you’ll receive an official document containing your home loan’s conditions. So, keep your lines open and be sure to check your email inbox regularly.

Tax Substance in Hong Kong: How Does it Work?

Some people argue that a business registered under the Hong Kong Companies Ordinance is automatically considered a tax resident. While this is true, it is important to appreciate that the Hong Kong administration considers failure to demonstrate economic substance to mean that the company has shifted it to another jurisdiction. 

The impact of this is that your company might get denied tax resident certificate, making doing business in other countries very difficult. Here is all that you need to know about tax substance in Hong Kong. 

A Closer Look at Tax Substance in Hong Kong 

Notably, there is no clear definition of tax substance in the Hong Kong laws. However, the term is used to mean the value that a company is contributing to the Hong Kong economy. As an island with little or no minerals or land for agriculture, Hong Kong spares no effort to ensure that companies operating there support its business-based economy. 

When a business applies for a tax resident certificate, the Inland Revenue Department (IRD) indicates that it considers two things; 

  • A firm is incorporated in Hong Kong. 
  • A company incorporated outside Hong Kong but has most of the operations managed in Hong Kong. 

However, we must say that a lot more than the above two factors are checked before the certificate is issued. This means that even if your firm is incorporated in Hong Kong, it might still fail to qualify for a tax resident certificate. Some things that might make you fail to get the certificate include not filing tax returns correctly and on time and breaking other Hong Kong laws. 

Why You Need to Demonstrate Tax Substance in Hong Kong 

After incorporating businesses in Hong Kong, most investors want to grow them into both the neighboring countries and globally as well. Demonstrating tax substance can help you to achieve this goal easily. See other benefits of demonstrating economic substance:  

  • It is the Gateway to Enjoying the Benefits of DTAs

Hong Kong has entered into more than 40 double tax agreements (DTAs) with different countries across the globe. To enjoy the full benefits of these DTAs, you have to get a tax resident certificate from IRD after demonstrating tax substance. Some of the benefits of DTAs include low withholding tax rates on interest or dividends and avoiding capital gains tax. 

  • It Gives Your Company an Advantage Over Competitors 

By demonstrating tax substance, you get an added advantage over other companies in Hong Kong because you can easily expand globally. So, go ahead and extend your reach, such as identifying and working with partners in different countries to grow sales.  

How to Demonstrate Tax Substance 

The following are some key things you can do to demonstrate tax substance for your company: 

  • Manage your company or most of its operations from Hong Kong. 
  • Make sure some of the directors or senior managers stay on the island. 
  • Have a functional office in Hong Kong. 
  • Hold regular meetings on the island. 
  • Ensure you have staff residing in Hong Kong. 
  • Have some of the company’s cash stored in Hong Kong. 

Opening a business in Hong Kong is the first step to growing its presence globally. By demonstrating tax substance in Hong Kong, global expansion becomes pretty easy because you can take advantage of the DTAs. Consider working with an expert agency to help you understand tax substance more effectively and get a tax resident certificate from IRD.  

How to Make More Money as a Nurse

Nowadays, a great number of people often face the problem of lack of money. Regularly, this happens due to the global crisis, so that employers need to cut their workers’ salaries. However, in some cases, small wages are connected with underestimation of the amount of work and the importance of the profession from society and, accordingly, the employer. The profession of a nurse frequently falls into such a “wave of unappreciation.” 

In fact, nurses do a huge job because they have a great number of duties, except medical ones. Moreover, nurses are supposed to work long shifts sometimes in terrible conditions and, from time to time, to deal with some unpleasant behavior of people. Undoubtedly, we cannot deny how vital and nervous at the same time their job is. Although, in spite of the facts mentioned above, nurses are still underpaid and, consequently, they usually want to have another sort of income.

Loans as a Common Type of Nurses’ Incomes

The most common way to get more money as a nurse is to apply for installment loans no credit check. It is a pity because nurses could earn more money with the help of their knowledge, however, in reality, sometimes things do not happen in such a way. An installment loan is a credit that you acquire one-time and then pay back in fixed payments every month. 

The appealing thing for low-paid people is that usually, money lenders do not check your credit story, credit score, or your ability to pay back before lending you money because installment loans have high-interest rates and short repayment limitations. As a matter of fact, installment loans with no credit check are a quite risky way of borrowing money because of the conditions under which these loans are issued to the neediest. That is why you should always evaluate your capabilities objectively and understand the possible consequences.

By the way, installment loans are quite popular among nurses. They often stuck with their debts because of their low-payments. Some recent surveys made by social and medical organizations claim that today 30% of nurses between the age of 20 to 50 have such loans.

Actually, installment loans are not the only type of loan that nurses could borrow. Regularly, some nurses, who have not finished their medical degrees yet and have practiced as nurses, have student loans. Student loans, on the one hand, could help young nurses to finish their studying years, but, on the other hand, could make big financial problems for young nurses. 

There are some analyses that have been done by social survey centers, which show us that one-third of graduates who have debts are unemployed and, therefore, cannot pay the money back. This actively demonstrates that nursing students get into the job market with considerable financial liabilities which, surely, could have an influence on their future opportunities to have a job and repay. Indeed, a lot of sociologists declare that governments cannot turn away from this problem and call on to solve it as far as possible. Maybe this could impact on conditions under which loans are giving out.

Part-Time Jobs

Deviating from the topic of loans, here are some other ways of making extra money as a nurse.

  • Some nurses work part-time as home nurses. There are a number of agencies that give services to people who are bedridden and not able to leave their own houses. Nurses usually apply for such a part-time job in these agencies. The main duties of a home nurse are to visit a particular number of patients and provide some medical care that they need. Consistently, such care contains general checkups, clothes changing, monitoring blood pressure, blood sugar measurement, and other resemblant medical responsibilities. In point of fact, such a job is a great type of part-time work because it does not need a great effort. Furthermore, it is a very noble occupation because giving a helping hand to helpless people is an essential thing.
  • Another nursing part-time job is giving individual medical online-consultations. Many companies, specialized in such a matter, may give you an opportunity to remotely assist people on their illnesses, make diagnoses and write prescriptions for medicines. You would have your own list of patients who would need to be controlled. This job is convenient for many nurses, and the particular reason for such satisfaction is the ability to make your own comfortable schedule based on your scope.
  • Last, but not least, is working as an immunization nurse. Many people from the medical sphere are familiar with such an opportunity. Immunization nurse is a seasonal part-time job, which starts in September. It is a well-known fact that when autumn begins a lot of people become infected with influenza disease. The flu activity starts nearly from October and continues until the spring. This firmly demonstrates the fact that a lot of people want to have flu shots in order to avoid this disease. That is why many regional immunization clinics usually look for nurses who can provide the service of making the vaccine.

There Is Always a Way Out

To sum everything that has been stated so far, it can be seen that there are a lot of ways of having another source of income being a nurse. However, although there are plenty of types of part-time jobs where nurses could use their professional knowledge as a wellspring of money earning, some nurses prefer just to have installment loans with no credit checks. The reason for this fact is quite obvious — it is easier to make monthly payments from salary to salary. Anyway, there is no doubt that every nurse has the ability to make their own choice related to their own comfort and opportunities.

Smart Tips for Managing Your Personal Loan

Financial burdens may make it difficult to avoid a loan. The economy has made things tough, and making ends meet is quite overwhelming. A personal loan may be the only way to handle emergencies, cover down payments, buy a car, and take your family for a vacation. 

If you’ve never borrowed this loan before, you can get it from Money for Jam. If you’re successful in acquiring it, it’s vital to know how to manage it responsibly. Managing these loans can be quite challenging, especially if you’re new to loans. You surely don’t want to taint your credit score or skip payments. 

Here are some smart tips that can help you manage your loan:

Craft A Budget

Having a budget for your loan is one of the ways to ensure your account for every penny. If you don’t have a budget, you may find yourself in a position of confusion and vulnerability. To be honest, tracking where your money is going may be difficult if you don’t account for it. Budgeting is the only way of ensuring you’re not overspending.

When budgeting, divide the expenses into categories. Let the categories be broad; for example, have a category of food, instead of groceries or coffee. Categories will help you keep track and calculate the amount of money you’re spending. If you don’t know how to come up with a big budget, go through the free online budgeting resources. You can also install apps to make it easy and simple.

Remit Monthly Payments on Time

Paying your installments on time every month can help you avoid penalties that’ll affect your credit score. If you’re planning to borrow again in the future, you don’t want things that’ll work against your financial situation. With a budget, making monthly payments can be much easier.

Set aside some amount every month for the loan. If you’re not disciplined, go for the automated payment system. It’s even advisable to make early monthly payments after receiving the loan. Paying ahead of time can cushion you against missed payments. 

Pay More IF You Can

Like paying early can help buffer you against missed payments, paying a little extra amount every month will keep you ahead of your loan. In fact, in the long run, it’ll reduce the length of your repayment period. That way, you’ll quickly clear your debt and regain financial independence. Also, you’ll reduce the interest amounts that you owe the lending institution, thus saving money.

Another advantage that you get by paying more is an improved credit score. Credits scores rise depending on how faster you can offset debts. If you have a good credit score, you may get loans with lower interests in the future. 

Ensure you notify your provider before starting to pay more than the minimum monthly installments. Also, it may be wise to go through the lending institution’s loan policies. While some may allow you to pay more, others may find you for doing so. Everything you do should be according to the contract you signed.

The Bottom Line

Managing a personal loan can help to reduce your financial stresses. It can also make you more disciplined and help you make monthly payments promptly. 

Taking A Samlelån or Group Loan To Keep Your Dreams Alive

Too many times when we are faced with a curveball in life and we get thrown off course, we simply give up. I have heard countless stories of individuals who believed they had everything in place to start their dream business venture all to have it taken away because of a hiccup.

Perhaps they were in the beginning stages of their start-up company only to hit a speed bump, and this led them to panic, to not think things through, and in the end, had everything crumble down around them. All those years of hard work and planning have gone in the blink of an eye.

If you are finding yourself in what seems like a similar situation, my advice would be to you to remain calm. Take a step back before making any permanent decisions and assess the problem for what it is, more often than not the solution revolves around or requires of money, and this is not something unattainable as many people tend to think right off the bat.

Taking stock of what exactly is happening at the moment is going to help determine the best solution moving forward, breaking it all down into different categories and seeing which needs your immediate attention.

In the beginning.

You and your girlfriends would often sit in the middle of the playground at lunch and chat about what type of businesses you would be running one day, each detailing their creativity into the products and services you want to offer and how you were going to do it.

As each person took their turn, feeling the love and support from the circle of friends basking in the sunshine, no dream and no goal was out of reach. Or so you thought in the present day, the moment in which you find yourself.

Graduation day came for all from the respective universities and it was time to head off into the big world to make that once dream chatter become a reality. You had spent countless hours, days, and weeks drawing up and setting plans into action for the new boutique shop you wanted to build and open on the high street in time for summer.

Finally, the day arrived where it all sprang into action. Contractors, diggers, builders, and tradesmen as far as the eye could see arrived on site ready to tackle their assigned tasks, the butterflies were on full force in your stomach and if it weren’t for the excitement of the project taking off you may have been sick. Nevertheless, the big day was upon you and there was no turning back.

Stage 2.

A few months have passed, the shell and most of the internals are complete on your project and all it needs is that final push to get you across the finish line. You feel stressed as would anyone embarking on such an adventure, but eager to set up shop and get the ball rolling.

Your close-knit circle of friends has also made a mark on their respective industries opening their little corner shops or creating the product that they believe will add value to peoples’ lives. As it all seems too good to be true you simply keep your eye on the prize.

But then you are hit with a harsh reality you didn’t expect, and you get that sinking feeling in your stomach. Unforeseen expenses popped up, extra materials were purchased, and without you taking note it seems that the money flow is coming to an end. So much so that the final push to bring it all together is now out of reach if you don’t get some financing soon.

After a few days of back and forth pacing and defending off questions and queries from all angles, you decide to lay it on the table with your friends who have been through thick and thin with you to see what they make of the situation.

What blew your mind was hearing that they too were looking for financial aid but were not a big enough corporation to get a substantial loan on their own, and so the subject of a group loan was broached.

You discussed it in as much depth as you could and decided to go for it, to get a samlelån or “group loans” and to do so as a ‘team, a family who you can always count on.’ This way everyone wins, all dreams are kept alive and well, and the world is still a great place to be an entrepreneur with a vision.

Knowing you all have each other in mind when taking out a collective loan shows responsibility and awareness for each other, but also love and care and believing in each other and the goals we wish to achieve.

Bringing it home.

First things first let us understand what does it mean to take out a group loan as such and why it can be beneficial to small business owners. Essentially to be considered for a group loan a few factors need to be met, the group should consist of a minimum of 3 willing participants, each person owns and is involved with a small company that brings in an income, and that the aforementioned businesses have been operational for at least 3months.

So why does it work for small brand entrepreneurs? We will break it down into the top reasons some of the successful applicants have commented on.

  • Guarantors. This is one of the perks of this arrangement, the people responsible for paying for the loan in the event you cannot are the same ones you take responsibility for should they not make payment. You each look out for each other or everyone goes down.
  • Collateral. Using assets or property leases as a ‘backup’ is what’s used for the generic loan system, they use the home as the payment method should a default occur on the monthly repayment. When going in as a group this factor is eliminated and which makes it that much easier to get accepted for.

Many options are available for collateral, some of which you can read up about here https://www.investopedia.com/terms/c/collateral.asp, and see a more technical version of the explanation in the event it is still unclear what you are getting yourself in for.

  • Simple. As everyone is on the same page and basically in the same boat there is a mutual understanding of the process which takes the complexity out of things. Thus the process is quick, simple, and effective for all parties involved.

A group loan has made many entrepreneurs the big corporations they are today, by simply getting a helping hand at the point where it could have all gone down the drain, they turn a bad situation into an unforgettable positive.

Not only do they have the story to tell and live by each day, but knowing they helped someone else out too in the process makes it so much better. We all deserve a chance in life to make something of ourselves and any ideas we may have, whether on paper or in the pipeline and if a humble group loan will do that for you then you should go for it.