by Jeff Rose
The current unemployment is still hovering around 9.6% and there isn’t a day that doesn’t go by that I don’t talk to someone who is directly or indirectly affected. If you have been hitting the pavement looking for a new job, you need to be tracking the expenses you incur during your search. Some costs of a job hunt may be tax deductible when you file your income tax return.
Searching for a new job in the same kind of industry will allow you to deduct expenses like phone calls, resume preparation services, and career counseling sessions you pay for out of pocket. You can still be employed during your search and still have your expenses deducted by only the amount that exceeds 2% of your income will be eligible. You may also be eligible to receive the expense deductions even if you did not end up getting the new job.
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The reality of owning a small business in the United States today is that most companies will eventually, in the course of doing business, encounter a surety bond. If you’re one of the many companies today that does need a bond to conduct your business legally, you have probably wondered what the financial benefits are to the bonding process. And it would follow that you’ve also considered the legal and financial ramifications of not purchasing the necessary surety bonds for your company.
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Not even the smallest of small businesses can thrive without setting realistic financial goals. A set of financial goals is like a company’s road map, always providing a frame of reference for where the business is and appears to be going. It enables business owners to put each day’s actions into context and make decisions in accordance with a broad vision. If you have decided to start a small business, there is no better time than now to begin the financial goal setting process. Sadly, the apparent difficulty of small business accounting scares many entrepreneurs away from doing a real, thorough job of this.
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This is a guest post from David Hamilton. David had contacted me about doing a guest post on my blog and offered three topic suggestions. When I saw “Outsourcing for Small Business Owners”, I knew that was the one. After reading Tim Ferris’ 4 Hour Work Week, I’ve become slightly OCD in outsourcing various parts of my work (office and blog). These are the tasks that I hate to do, blog down my time, and would rather much just pay someone else to do it who actually enjoys it. Outsourcing just a few of these weekly “chores” has given something much more valuable in return: time. Time to focus on the things that I like to do that dont’ feel like work. Are you a small business owner that feels constantly tied down? If so, then you might benefit from a little bit of outsourcing yourself. Intro Kevin….
Outsourcing – it either gets you excited for the possibility of saving money by utilizing the global workforce, or it might send shivers down your spine, thinking of all the unknowns and potential nightmares that can happen. Whatever your stance is currently – this guide should help clear up confusion about outsourcing and give you a guideline on how to hire abroad – whether you’re excited yet unsure at the prospect of it, or just a complete skeptic.
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When you’re starting a business or trying to expand an existing business, often there is a need for additional funding. The Small Business Administration has a number of programs available for small businesses to borrow money. Are you an entrepreneur in the making? If so, here’s some good information to know.
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Many of my clients (and me included) have been concerned about the expected rise of inflation. The problem is that we’ve been concerned for a few years and thus far, inflation has been a non-concern. What seems to be the new concern is deflation. Where deflation isn’t a typical concern for the average consumer, it has been a topic of concern for consumers and the Federal government at large for many years. Journalist Dave Carpenter refers to deflation as “Deflation is the potential new boogieman for consumers, replacing inflation.” So what exactly is this new boogieman? It is defined as the declining of prices of goods and services over time. Deflation is the direct opposite of inflation and occurs for one or more of the following reasons:
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Till Death Do Us Part. When a couple join in holy matrimony, there are many new discoveries awaiting them. When it comes to their finances, there are potential to be some added benefits: joint checking accounts for consolidated record keeping, joint tax filing status, and lastly; the ability to contribute for a non-working spouse to contribute to their IRA. Ahhhh….isn’t marriage bliss? There are special rules and restrictions that apply to spousal contributions to IRAs that should also be considered when selecting an IRA for your family. Here we look at some of those rules to help you make an informed decision regarding your IRA account.
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August has so far been a very good month for high-quality bond investors but Mortgage-Backed Securities (MBS), issued by the government agencies Ginnie Mae, Fannie Mae, and Freddie Mac, have not participated in the latest leg of the bond market rally. Even after Friday’s sell-off in the bond market, the high-quality bond market, as measured by the Barclays Aggregate Bond Index, was up 0.7% for the month through last Friday August 27, 2010 led by Treasuries, which were up 1.2% according to Barclays Treasury Index data.
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The following is a guest post by Michael, a blogger for CreditCardForum.com. Michael has been writing credit card reviews and covering this industry for several years now. In this article, he will be discussing the controversial idea that credit card rewards are negatively impacting the lower class.
A couple of weeks ago, I came across a very interesting story in the Wall Street Journal about credit card reward programs. The article referenced a report that was recently issued by the Federal Reserve Bank of Boston, which in a nutshell, basically said that the reward programs offered by credit cards hurt the poor and help the rich. Here is a quote which pretty much summarizes this fifty-seven page report:
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With all the financial turmoil that has been caused by the recent economic recession, it isn’t surprising that consumers are struggling with their debt in unprecedented numbers. The free-spending, easy-credit environment of the years preceding the recession has given way to high unemployment and underemployment, a floundering housing market, restrictive lending guidelines and millions looking to pay down their debt rather than spend. The loss of income and inability to qualify for new loans have left consumers buried with high interest credit card debt that in far too many cases will require decades to pay off, given their current repayment capacity and the seemingly dismal prospects looking forward.
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Filing for bankruptcy used to be a pretty clever and painless way to stick it to your credit card company. Back then, if you were really up a creek you could file for Chapter 7 and get a “fresh start.” Effectively, all your assets would be liquidated and given to creditors, and all your remaining debts would be nullified, so your credit card, mortgage, and student loan debt would basically just disappear and you would start over with a clean slate. Those days ended in 2005 with the Bankruptcy Abuse Prevention and Consumer Protection Act.
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There are many reasons people consider buying a bigger home (our building our dream home as we did). Often, newlyweds might purchase a “starter home” which is intentionally smaller than their ideal home, in order to save money. They figure they can buy a larger house later, when they start adding children to their family or start earning more money. Maybe you’ve decided to run a daycare or other business from your home and require more space to do it well. Whatever your reasons for wanting a larger home, here are some things to consider before purchasing a big home that will prevent you from going broke.
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Financial Benefits of Surety Bonds in Small Business
by Jeff Rose
The reality of owning a small business in the United States today is that most companies will eventually, in the course of doing business, encounter a surety bond. If you’re one of the many companies today that does need a bond to conduct your business legally, you have probably wondered what the financial benefits are to the bonding process. And it would follow that you’ve also considered the legal and financial ramifications of not purchasing the necessary surety bonds for your company.
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