Turning Your Hobby into a Small Business? Know These 9 Tax Rules
There are a few phrases in the vocabulary that compel virtually everyone to immediately take notice and go on high alert. Like termite infestation. Like poison ivy. And like black ice. And indeed, like IRS audit. But that's a distinct possibility when turning your hobby into a small business. If, th Continue Reading
Why Skills are More Important than Credentials in Earning a Living
Charles Hugh Smith has written and spoken on many occasions that a college degree functions primarily as a signalling device. That is, it doesn’t actually prepare the graduate for a job, but rather signals that he or she is worthy of consideration for employment. A college degree serves mainly as Continue Reading
5 Steps to Improve Your Financial Management for Small Business Loans
If you are a small enterprise, getting a small business loan can be a sort of a hurdle. That's mainly because of the tight standards that are set by banks. Nonetheless, getting additional financing from outside sources is often inevitable and necessary. It's how you start a business or make it grow Continue Reading
Forget the Hype – Eating Healthy Does Cost More Money
After the second of our two adult children moved out early last month, my wife and I committed to shifting to more healthy eating. Since it’s just the two of us now, we have much greater control over what we eat. On our last grocery shopping trip last week, we fully implemented the new strategy. W Continue Reading
Everyone Wants a Salaried Job as Contingent Income Arrangements Rise
When it comes to jobs, there’s a somewhat standardized version of how they should work. It’s something like full-time hours (35 to 40 hours per week), a guaranteed salary and a full line of benefits. When it comes to job hunting, this is the typical arrangement people look for. Unfortunately – Continue Reading
What’s Right About America this Fourth of July
This article is a reflection on Fourth of July, and specifically about what’s right about America as we celebrate national independence. But the ideas for it actually began taking shape this past Memorial Day weekend. And perhaps that’s fitting as well. It was the Sunday just before Memorial Continue Reading
Landlord of the Rings: 5 Things You Must Know Before Renting Out Your Home — Not After
A while ago, we took a look at why you may be better off renting a home instead of buying one. To recap, some of the key advantages are: Greater geographic mobility to follow a job. No trapped capital. Owning isn’t as cheap as it used to be. Tax reforms have removed the tax b Continue Reading
Does Working Hard <em>Really</em> Get You Ahead?
How many times have we heard that phrase, "Work hard and you’ll get ahead in life!" Is it true? Does working hard really get you ahead? I ask that question because the more I read and the more I talk with other people, I doubt if there's a definitive answer. Certainly when we were younger and in s Continue Reading
By the Age of 40 – Make Retirement a Priority
In what seems like a blink of an eye, 20 turns into 30, and then 40 lurks around the corner. It’s at that time that people begin to take things in life a little more seriously, including retirement. Although you still have two decades to put money away, the time to start taking action is now. Make Continue Reading
How to Prepare Your Finances for the Next Recession
This is a difficult topic to take on in the current economy. At least right now, a recession seems unlikely, and some are saying impossible. But the current economic expansion – anemic that it is – is now about 10 years old. That makes it the longest expansion on record. As the saying goes, what Continue Reading