Tax time isn’t until April the 15th 2012, but you can begin planning for that date right now. There’s only a few days left to take advantage of these end of the year tax savings. So let’s get right to these tax saving tips for business owners.
Freelance Payments
If you work as an independent contractor / freelancer and bill people for your services, you can choose to send out invoices and get paid after the new year. Otherwise, if you get paid by the end of the year, it’s considered income in 2011 and you’ll have to pay taxes on that income in just a few months. What matters, as far as the tax man goes, is when you get paid, rather than when the work was actually done.
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Can you afford to take that job? Can you afford to keep the one you have? What are your alternatives? Few people look at the cost of going to work, instead looking only at the paycheck at the end of the week.
Evaluating your current or new job should be part of the decision making process when preparing to accept a position. Letting your excitement about a new job interfere with logical thinking can cost you more than you think. Reviewing your employment costs is a crucial first step.
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Flopping is the intentional misrepresentation of a home’s value in order to flip it illegally. This can work a number of ways and has become as much of an art as house flipping was in its heyday.
First, a broker or real estate agent notices which homes have severely depressed values. Either the homes have mortgages that greatly exceed the current value or they are homes that have been subjected to foreclosures or short sales. The broker can value the home according to a “broker price opinion,” since he wants to profit from a quick resale of the home at a much higher price.
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Every year during the holidays or for your birthday you’ll undoubtedly receive a few gift cards that you don’t want. It’s rude to give it back. You can’t return or exchange it at a store either. So what do you do with these unwanted gift cards?
What you don’t want to do is throw it in a drawer and forget about it. While that gift card is not worth much to you, it is worth something to someone else. What you can do is sell it on eBay. This way, you exchange the plastic for real money and get positive feedback added as well.
Just how much money can you make by selling a gift card on eBay? It depends on the store/restaurant, but typically a $25 gift card can sell for about $23. After postage fees, eBay and Paypal fees you’ll be left with about $21. Sure it’s not the whole amount, but it’s something.
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Job positions are available and people are being hired to fill them. And you won’t ever even know these jobs exist. There is a hidden job market out there. Did you know that the majority of jobs aren’t even advertised? Many companies either “hire within” or spread the news of their available positions through word of mouth. So how do you get a job on this “hidden job” market? You do it through networking.
What is networking?
Networking is the act of developing a list of business related contacts and then using them to help you at a later time.
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So you have debts and you want to start repaying them. But money is tight and you are on a fixed income and just buying the essentials you need leaves you with little left over. Well here’s a quick way you can get some extra money to help you start paying off your debts. Sell your extra belongings online.
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For years creating a website and profiting from it was something that was left to the proffessional web developers. Things have changed and times are different now though. Most of us have our own myspace or facebook profiles and thus can have a blog. Not only that but there are many places where you can create your own blog free of charge.
To make some extra money on the side it might be a good idea to turn your passion for baseball or your love of fine cuisine into a money making blog. There are many tutorials out there to teach you where to sign up, what sponsors to use and how to promote your site. And don’t forget how great it feels to see an increased income when completing your tax software.
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Sometimes you find something that’s a cash cow, you milk it for all it’s worth and now this source of income is drying up. Don’t keep trying to “Squeeze blood from stone”, when it’s over, it’s over. Move on already. Recognize when it’s not your superior skills that are making you money, but rather just a hot market you are in or just being at the right place at the right time. So save your money, invest it wisely, learn another skill or immerse yourself in another market.
Stay ahead of the game. Nothing lasts forever.
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Self-employed business owners may be going it solo, without much of the same resources to fight off a recession as their larger brethren. For that reason, it’s important to review your business processes and see how to make the most of what you have. Areas that demand special attention are: financing, marketing, and business operations.
Marketing for greater exposure during a recession is essential to maintaining sales. If you reduce your advertising budget, you’re more likely to be forgotten by the general public. Marketing doesn’t have to be expensive, and you can even do things online. Set up affiliate programs, press releases, or a website and email campaign to get the word out. Explore other types of marketing, like radio announcements or bulletin boards. The recession means that advertisers are willing to cut a deal for many types of advertising that were out-of-reach before.
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Poker players love to gather as many chips as possible and stack the chips. Some players are risky and stack the chips fast while others are more conservative and build their stacks over time. Either way, the goal is the same, to stack your chips high – and keep them.
This new blog is all about saving money.
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