Friday, October 24, 2014

4 Benefits of Equipment Leasing

So, you’ve decided to start a business. Congratulations! Wherever you are in your journey, there will always be new equipment that can help you to build your business so that it will truly flourish. But did you know buying that equipment, isn't your only option? Here are four key benefits of leasing equipment for your business.
  1. Conserve and Control Cash. Equipment leasing saves your working capital (bank lines) for day-to-day business expenses, business expansions, or unexpected business related expenses. In addition to saving your working capital, with a lease you have a pre-determined monthly line item, which can help you budget more effectively. With predictable monthly expenses you can develop long-term plans for your business with confidence and get your business set up with the equipment you need, while keeping your cash flow available for other expenditures.
  2. Upgrade outdated Equipment. Depending on your business type, equipment leasing can help you stay on top of the latest advances in equipment and technology. How long do you plan to keep the asset? If you're only planning to keep it for the short term, you may find that leasing is a better alternative than buying it and trying to resell it when you no longer need it. You can also determine the length of your lease, so if you work with technology that changes rapidly, you can take on a short lease to ensure you’re always at the cutting edge in your industry. 
  3. Tax Benefits. Lease financing presents your business with potential tax benefits. In many cases, leasing not only provides businesses with a full deduction of lease payments against current earnings, but also preserves working capital that you wouldn’t have access to if you had to purchase your equipment up front. It’s always a great idea to check with your tax advisor to determine the benefits for your business.
  4. More Attractive Balance Sheet. Monthly lease payments are viewed as a business expense instead of long-term debt. Having little debt on your balance sheet helps you secure financing to fund your business. And who doesn’t love a sexy balance sheet? 
Ultimately, a few simple rules of thumb may help you decide to lease or buy. If your equipment requirements are relatively small and you have the money--or can get a low-interest loan--then just buy it. You'll save money in the long run. However, if you require a substantial amount of equipment, such as computers for your new company's 10 employees, leasing may be a better option. After all, why tie up a large amount of cash--especially when you could use that money to establish or grow your business?

Wednesday, October 22, 2014

All the Self-Help You’ll Ever Need


    Yes, you can live a better, happier, more fulfilling, wealthier life. You actually can do that.

    Want to know how?

    It’s really simple, and I’m going to tell you. For free. This is how.

    Decide to actually do, that which it will actually take, to actually achieve what you want.

    There you go. I just saved you $10,000+ each for seminars and prayer breakfasts and self-empowerment weekends and whatever. However, like most people, you probably think that’s way, way too simple for you. It doesn’t appeal to your inner attraction to complication, and you need it explained in more detail. I’ll throw that in, ‘cos I like you and want you to succeed. (Yes, I really do.)

    Think about yourself in five years. Where do you want to live? What do you want to be doing? What do you want to have? Who do you want to be? Now write all that down in detail.

    Next, back-port that, a year at a time, to a year from now. If your life plan doesn’t make sense, or there isn’t enough time to achieve what you want, or whatever, edit it. It’s only ever a draft. Stuff will come up that necessitates re-drafting it; inability to accept that we cannot precisely determine the course of our lives is one of the major barriers to self-improvement. It will help with this if you subdivide your life plan into areas such as family, career, fun, money, health etc; whatever makes sense to you. You can google for example goal-setting lists.

    The purpose of this exercise is to clarify what you want, and in turn, clarify exactly how, as in by what real actions, you are going to get what you want. If there’s a logical gap, fix it.

    Having done this, frequently review your plan. You need to become somewhat obsessive about it. Your subconscious is powerful but it is lazy; unless you become subconsciously driven to achieve something, you probably won’t. You’ll find excuses to avoid it.

    The “Law of Attraction” is a mystical name for what are basically three real things. The first thing, is clarity of intention. If you’re sitting around wondering who you are and what you’re going to do, thousands of opportunities and possibilities will pass you by unnoticed. The second thing is confirmation bias: if you’re clear that you want this, any opportunity that you see that in some way approximates to this, you will notice. Same way that if you drive a red Honda, you will see red Hondas everywhere. They were there all along; you just didn’t care. The third thing, is motivated action. The scope of your possible actions is enormous. You are overwhelmed with choices and consequent analysis paralysis. If you just pick something you want, even if it’s a bit silly, and it’s motivating enough to prompt you to some action, then you will greatly increase your chances of getting it.

    There you go. Simple as that. If you don’t get it, or having got it, wish that there were some “easier way”, by all means pay the snake oil salesmen to re-explain it to you with different metaphors and in greater detail and including money. Also it is a proven fact that most humans value their experiences and possessions more, the more they paid for them, regardless of their actual utility, and accordingly paying a snake oil salesman thousands of dollars to receive advice you could get from reading an internet forum, may actually have the genuine and real effect of making you more likely to take that advice.”

Source: http://andywibbels.com/

Wednesday, September 24, 2014

Win a Trip to Hawaii

Win a trip for two to Hawaii or $5,000!

For more details, please visit: http://anytimefitness.zuberance.com/offersV2/index/90873712

NO PURCHASE NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT IMPROVE YOUR CHANCES OF WINNING. Open only to legal residents of the 50 United States and the District of Columbia who are 18 years and older, and legal residents of Canada (excluding Quebec) who have reached the legal age of majority in their province/territory of residence. 1 prize ($7,000 USD approximate retail value). Odds of winning depend on the number of entries received. Skill-testing question required for Canadian residents. Void elsewhere and where prohibited. Sweepstakes ends October 7, 2014. Subject to complete Official Rules.

This Promotion is in no way sponsored, endorsed or administered by, or associated with, Facebook or Twitter. You understand that you are providing your information to Sponsor and not to Facebook or Twitter. Your personal information will only be used in accordance with Sponsor’s Privacy Policy and as permitted by law.

Wednesday, September 10, 2014

Glossary of Money Terms

The best way to start on the right path to financial wellness is to learn more about personal finances. Here are some of the most common terms you’ll encounter as you learn more about managing your personal finances.

AssetA personal financial asset is something you own, and includes cash, savings accounts, and personal property. In a balance sheet, assets such as the value of your home are offset by liabilities, such as your current mortgage.

Balance sheet
A balance sheet is a financial statement that shows your financial assets (such as your savings account and home equity) against your financial liabilities (such as your mortgage, credit card debt).
 
BudgetA budget is a document that shows your spending goals for the month or year.

Compound interestCompound interest is interest that is earned on interest that was earned in prior periods. For credit cards or other loans, compound interest is interest charged on interest that was charged in prior periods.

Financial plannerA personal financial planner can help you with your personal financial situation, including investments and savings goals. Fee-only financial planners are paid for the appointment, and do not receive a commission for your purchases.

Gross incomeGross income is the total amount of money that you make, before subtracting expenses and taxes.

LiabilityA personal liability is the amount that you owe. For example, many households have their home loan, car loans, credit card bills, and student loans as their liabilities.

Net incomeNet income is your earnings after subtracting out expenses (for self-employed individuals) and taxes.

Net worth
You net worth is the difference between your financial assets and your financial liabilities. If you are in debt, your net worth is likely to be negative.

Tax advisorA tax advisor is a tax professional who can help you in planning a tax strategy, and can prepare your tax returns for you.

Teaser rate
A teaser rate is an introductory interest rate offered by credit card companies. When the introductory period is over, the rate typically increases dramatically.

Source: http://www.moneymanagement.org

Sunday, August 17, 2014

MSP earns high grades for small-business friendliness

On July 1, in partnership with the Ewing Marion Kauffman Foundation, online business directory Thumbtack released its annual small business survey of U.S. cities. Minneapolis-St. Paul finished in eleventh place and earned an overall "A" rating, falling behind several cities in Texas and smaller Mountain West towns like Colorado Springs and Boise.

The Thumbtack-Kauffman survey subjected the Twin Cities to more than a dozen measurements, based on responses from surveyed small business owners.The region earned an "A" grade for ease of starting a business and an "A+" for the availability of training and networking programs. It earned decent"'B+" grades for environmental and zoning regulations, and a "B" for health and safety. Licensing rules and employment, labor and hiring protocols came in at the '"B-" mark, with the local tax code and ease of hiring scoring "C+"

The Cities' rankings showed marked improvement over the past two years. Minneapolis-St. Paul's overall rating was "B+" in 2013 and "'B" in 2012. The change in availability of training and networking programs was particularly noteworthy, with a jump from "C-" to "A+" between last year and this year. The overall regulatory environment and ease of hiring improved significantly as well.

Although the Twin Cities could have scored higher in some areas, the region fared great next to some well-known locales. Buffalo, Providence, Sacramento, and San Diego earned "F" grades for overall business friendliness, and many other East and West Coast cities failed to clear the "D" bar. At the state level, California, Illinois and Rhode Island earned failing grades.

The survey also sourced subjective opinions from business owners across the Cities. Some of these were glowing: A Minneapolis-based designer reported that "I'm in a great location and have a lot of room for growth." Others were more skeptical of local governments' role in business, with a Minneapolis pet sitter complaining about the state sales tax on dog-walking services.

Relatively high taxes, coupled with byzantine regulations, were a common complaint. But some respondents actually argued for a more hands-on approach by local regulators, including a Minneapolis voice teacher who complained that hands-off licensing was creating room for scam artists in the field.

Thumbtack's survey collected reponses from about 12,000 U.S. small business owners (in the Lower 48 only) over a two-month period in early 2014. For a copy of the full report, contact jon.lieber@thumbtack.com.

Source: http://www.thelinemedia.com

Saturday, July 26, 2014

Wisconsin Makes Minnesota Offer On Tax Reciprocity

 Wisconsin’s latest income tax reciprocity offer to Minnesota does not include an additional payment of up to $6 million a year that its neighbor wanted, a demand that the head of Wisconsin’s Revenue Department derided Thursday as “unprecedented.”

Still, Revenue Secretary Rick Chandler and Wisconsin lawmakers who live on the border with Minnesota said they hoped the two states could reach agreement for the 2015 tax year before a Sept. 30 deadline.

An agreement would simplify income taxes for the roughly 80,000 who live in one state and work in the other. Currently, those people have to file tax returns in both states. A deal would allow them to file just one, but the two states have been unable to reach an agreement since Minnesota canceled a 40-year agreement in 2009 because it was losing money.

Minnesota made an offer to Wisconsin in June that would require Wisconsin to pay up to $6 million more a year to make up the difference. But Chandler, in a statement announcing Wisconsin’s latest offer, said Minnesota’s demand for $6 million more was unreasonable.

“We hope Minnesota will put taxpayers first and not block a new agreement with an unprecedented new condition,” Chandler said. “We’re close to a new agreement, so let’s come together.”

Minnesota Department of Revenue Commissioner Myron Frans said the state’s latest offer to Wisconsin, made in June, trimmed $1 million from its prior request. Minnesota lawmakers authorized the cut last session in an attempt to reinstate reciprocity.

“We’ve seen no effort by Wisconsin to deal with the revenue lost by Minnesota,” Frans said.

Chandler said Wisconsin’s latest offer means payments from Wisconsin to Minnesota would increase from the $58 million paid for tax year 2009 to $87 million for tax year 2015. Future payments would be made based on a study both states completed in 2013.

Both Republican and Democratic lawmakers in Wisconsin urged Minnesota to accept the offer.

“Taxpayers lose precious time and money each year because we have not reached an agreement to restore reciprocity,” state Rep. Dean Knudson, R-Hudson, said.

An estimated 56,000 Wisconsin residents work in Minnesota. About 24,000 Minnesotans commute to jobs in Wisconsin.

Source: http://minnesota.cbslocal.com

Friday, July 18, 2014

Financial Fraud Deja Vu

It's surprising to find that most people really don't understand what fraud is. Sure, they hear about it, usually on a grand scale, but they don't understand what really happens and the devastating effect it has on people, companies and economies. My discussion of the 57 varieties of fraud is eye opening and thought provoking; this is not your usual speech about ethics. Looking for where fraud is most likely to occur is a key discussion - knowing where fraud is likely to occur can be the first step in learning how to avoid it.

It's time we start publicly talking about fraud; what it is and what it does. Knowing and understanding white collar fraud helps employers, workers, students and teachers come to the realization that fraud will most certainly happen again. It's time to get serious in learning about fraud, to begin developing a knowledgeable attitude and the position that it's "not happening here".

Sometimes people can't resist the temptations, be they the CEO, CFO or the employee working on the dock, because fraud doesn't always occur at the top. We're lead to believe this mostly by the media, so we only get to hear or read about the really big ones, since they make the biggest news. Fraud is all around us every day.

Financial Fraud Déjà Vu, a coming 'round again, why can't we see it coming? To deal with and combat fraud, we need to begin accepting that we can eliminate it no more than we can get rid of all the germs in the world. Most people are unaware of what fraud is and what they should be looking for. There is a screaming need for awareness concerning fraud. And as a result, we seem to choose to overlook how it may affect us personally; as relationships are hard hit, strained to the max, loss of character then faith, disbelieving that it could happen here, to each of us.

We have a lengthy, recent history of frauds perpetrated by individuals and companies, but whatever the name they all have in common the drastic financial effect on innocent people; who, suddenly find themselves on an involuntarily trip down harm's way. We must begin to face the reality that some form of financial fraud is occurring under our noses now, even though ethical procedures and policies are in place "acting" as preventatives.

Every company, every college classroom, every club, society and association can benefit by knowing what fraud is, how it happens, why it happens and how to avoid it. Financial Fraud Deja Vu, keeps coming 'round and 'round.