Thursday, June 22, 2017

Don't Let An Accident Ruin Your Finances!

financially ruined
Getting in any kind of accident can be an incredibly upsetting and traumatic experience. Not only can it potentially cause a lot of physical trauma, but the emotional toll that an accident can take on you can be very significant. However, there's one thing that can often make the aftermath of an accident far worse, and it's something that a lot of people neglect to think about until it's too late: money. Sure, if you've been in some kind of accident that has put your life in danger, or even left you injured, money probably isn't the thing that you're going to be the most concerned about. However, that doesn't mean that it's not something important and that you can go without thinking about it. The last thing you want is for an accident to lead you to any kind of serious financial trouble by making you unable to work or having to pay to replace something like your car. With that in mind, here are a few simple things that you can do to prevent that from happening.

Be prepared

The very best thing that you can do in order to avoid any kind of financial difficulty is to be prepared for it. Sure, an accident may well come completely out of nowhere and leave you feeling shocked and confused, but if you've been saving your money for an emergency situation, you can at least rest assured that you're not going to get into any serious financial trouble because of it. That way you can focus on dealing with the physical and emotional ramifications of whatever you went through, rather than constantly worrying about your bank balance.

Seek out legal support

If you've been in some kind of accident, then it's worth finding out if you have any legal grounds for compensation. After all, if something happened and someone else is at fault, there's no reason why you should have to pay for it. Whether you speak to car accident compensation lawyers after a car accident or a workplace attorney because you were injured at work, there are professionals out there who specialise in being able to help you avoid falling into financial difficulty because of someone else actions. After an accident, you might not want to spend your time dealing with the legal process, but it's much better to deal with it right away rather than leaving it until you're in a dangerous financial position.

Start budgeting

Of course, sometimes you're just going to find yourself at something of a loss financially without much that you can really do about it. When this happens, you need to start thinking about managing your money carefully so that you don't end up in trouble. Cut out luxuries that you don't need and try to manage your spending as much as possible. Not only that but see if there is anything that you can do in order to reduce any regular payments like power and water bills. Being careful about how much power you're using will often save you a lot more money than you might think and is a really good habit to get into no matter what.

Wednesday, June 21, 2017

5 Steps to Avoid a DUI

legal help for money
A DUI conviction can be an embarrassing and upsetting process and one that we are all well advised to avoid. Here are our top tips, on doing just that, avoiding a DUI arrest and staying safe on the roads. 

Always Eat When you Drink

Eating a large meal alongside alcohol is always a good idea to make sure that your body can absorb the alcohol that you are consuming. Obviously no one condones drinking and driving, but an average adult should be able to enjoy a couple of small drinks, spread out over an evening, when accompanied by food.

Drinking on an empty stomach tends to go straight to your head and this is because you have nothing in your stomach to be absorbing the alcohol. Even if you are just snacking whilst enjoying your drink you are making sure that there is something in your system to stop the alcohol from going straight to your head, and stop it from being more quickly absorbed into your blood.

Keep Car in Good Condition

This is a surprising one, however statistically you are more likely to get pulled over in a car that isn’t looking roadworthy. If you have a tail light out or an expired tag then of course it is expected that you will attract the attention of the police.

However even just paying minimal attention to your vehicle can make it look a little suspect to a police officer, increasing your likelihood of being pulled over, and then potentially breathalysed. Reducing the possibility of you getting pulled over, reduces the possibility of you getting breathalysed which will in turn reduce the chance that you will need to confirm if you need an attorney for your dui. So make sure you are looking after your car so that it doesn’t garner unwanted attention.

Respect Traffic Laws

Something that we should all be doing, all of the time, following the traffic laws, becomes increasingly important for those of us wanting to avoid a breathalyser test after a glass of wine with dinner. On those evenings you will want to follow these traffic laws even more closely than usual. Don’t forget to use your signal light when turning or changing lanes and always stick to the speed limit. 

Keep Paperwork in the Same Place

If you do get pulled over and spend five minutes fumbling around for your license and car registration and insurance then you are going to rouse suspicion and be more likely to participate in a sobriety test. So make sure all your documents are safely tucked away in the same place, all the time.

Stay Focused

More importantly than anything is to stay focused. A glass of wine or a beer after work can sometimes make you feel sleepy which could mean that your reactions and general energy levels are impaired. Therefore make sure that you have a quick coffee to wake you up before jumping into your car, or keep the windows open to freshen you up, or listen to some energising music.

Tuesday, June 20, 2017

Avoid These Financial Risks to Your Office

money risk at work
When people imagine the setting up of a new business, they imagine a lot of financial risks. But they’re often thinking about the sort of risks that come with the investment of capital into the business. The fact is that you also need to consider the increasing risks that come with the further development of your business. If you’ve advanced your business enough that you can now move from remote work in your home to an office with employees, then you’re going to have a bunch of new financial risks to worry about. Here are the common ones you need to look out for.

Overspending

One of the most common financial risks for business owners looking to move to a new office? Overspending. It’s easier to do than you think. From buying a bigger office than you really need (either because you think you’ll hire more people than you realistically will, or because you really like the space) to buying more computers and other tech than you’ll actually use, the opportunities for overspending are many. Be realistic about what you need from your office. While you shouldn’t skimp so much that your work becomes affected and your employees become dissatisfied, you do need to be careful.

Theft and damage

A lot of people think about insurance as an unnecessary expense. This is certainly rife in the personal sphere, but it’s more common than you might think in the business world, too. Sure, you might make you get liability insurance to help protect you from lawsuits (more about that in a second), but what about insurance against the theft of or damage to your property? Even if you’ve invested wisely in security measures, a lack of insurance may end up coming back to bite you.

Employee lawsuits

Liability insurance is essential for most business owners; it helps cover you financially if you’re found legally liable for injury, negligence, or malpractice. Still, it’s really much wiser to help ensure such a lawsuit doesn’t actually take place. If you neglect the health and safety of your employees, then something will eventually go wrong - and you’ll have accident and injury lawyers on your back, trying to get compensation for their client - a.k.a. the employee that you wronged! Get liability insurance, but spare absolutely no expense to make sure that your employees are looked out for.

Contract errors

A business has to deal with contracts. There are employee contracts, freelancer contracts, contracts between you and other businesses, contracts between you and the customer… it can be a bit of a nightmare getting your head around it all. But get your head around those contracts you must, because not sticking to your word can result in fines and even lawsuits. (Yes, that sticky word again.) You have to make sure that these contracts (and this includes the terms of service on your website) are written in a way so as to ensure maximum clarity. You don’t want there to be leeway that allows other parties to take financial advantage of you - another risk in this area that few people seem to talk about.

Monday, June 19, 2017

Where There's A Bill, There's A Way! Completing Your Tax Return

tax return done
It’s one of the most stressful things you can do in your life, your tax return, it’s a mountain of paperwork and complicated figures, and once you have done it, you feel better than having conquered Everest without any oxygen, exhausted, great, and slightly out of breath! But what happens when you finish the return, and you discover, much to your horror, that you owe tax to the IRS, and not just that, but it’s tax you can't afford to pay? It can be somewhat stressful, especially if you're concerned about getting a criminal record! However, there are ways around the issue, which mainly consists of staying on the good side of the IRS!

Double Check Your Tax Return

This should be your first port of call because you could have added the same income twice by accident, or you forgot to make a deduction. Because, if you thought that you had qualified for a deduction, you need to be sure that you had answered the questions correctly. And if your tax return details are exactly the same as the previous tax year, it could be an issue with the IRS, and not you! In which case, call them to get some clarity on what the problem might be.

Reducing The Amount Of Penalties And Interest

If you owe a huge amount, penalties and interest can bump up that final cost even more! If you hire the help of a tax attorney who has experience with the IRS, it will make the process much less stressful! At least when you’ve got someone on your side who has years of experience in these issues, the problem can get resolved quickly and with few casualties. You can also aim to reduce your penalties by any of these:

Exceptions to underpayment – so, if you underpaid this year, but you owed less money last tax year, you don’t have to pay any penalty.

Ask them for an abatement - write a letter to the IRS. Make sure to explain your financial situation in depth and make the most what might have caused an issue in the past, such as a mitigating circumstance like a long illness, and specifically ask for “an abatement.” If your case is strong enough, they may waive the penalties. 

Pay the outstanding tax soon as possible- either filing early or being able to pay as much as possible shows that you are keen to get this issue sorted.

Ask To Pay The Balance In Installments

You can set up a payment plan through Filing Form 9465, known as the Installment Agreement Request. Setting up a payment plan will allow you some time, and if you can show you're unable to pay the full amount, the IRS must let you make the payments in three years or under, but this is if you owe $25,000 or less. Follow these ideas, and you will be sure to stay on the right side of the IRS! It can be stressful, but where there’s a bill, there’s a way!

Sunday, June 18, 2017

Make Sure Your Vacation Property Includes These Benefits

holiday assets
More and more people are keen to invest in property that also offers the benefit of becoming their vacation home. This makes sense in many ways. The property provides you with accommodation when you’re away from home, and can be furnished entirely to your tastes. As a home from home, everything, including your wardrobe, is already there. This reduces your baggage handling considerably. So how do you choose the right property investment to suit your vacation needs?

Start with a destination choice. It should be somewhere you have been on many occasions before and that you intend to visit at least annually again. List the eateries, attractions, and other places you enjoy spending time while you are there. This could provide you with a rough neighborhood area that you would be willing to buy in. Geographically speaking, there are several other considerations too.

First, think outside of your own preferences. Consider what other visitors to the area enjoy doing. After all, if you’re buying a vacation property, you might be able to generate income by letting it out when it’s not in use. Now you’ve narrowed down the neighborhood, it’s time to consider the kind of property that will suit you best. Highly desirable apartments are easy to let so you might look to read this page for inspiration. Pick something that fits you as well as the kind of tenant you are looking to attract.

Now you need to consider the facilities within the apartment or house itself. If it’s in a beach area, it should cater for large groups or families rather than just couples. City centers are ideal for couple breaks so you might choose something smaller and more intimate. Consider the climate for the area you area buying in. If it’s a hot place in summer, make sure you have air con and a contractor to regularly service it.

As a vacation property, it’s important the accommodation provides those getaway extras we all look for. Is there a pool, or one in the complex? Perhaps there is a community gym in the building that you could provide access to? Outdoor dining at home is also important when you stay in a vacation property. Can you provide a good terrace area with quality dining furniture and loungers? Think about the things you enjoy when you’re away. Could you provide those facilities at your vacation property?

Most contemporary buildings include all the standard hook-ups we expect these days. High speed internet connections and TV reception should be included. Parking is also important for those that bring a vehicle to town. Look for a property with a driveway and garage parking. You should also consider extra security for your property as it may be empty for months at a time. If it’s not already installed, make sure it can be done quickly and easily when you take ownership.

Vacation properties can be good investments to generate a little income each year as well as accommodation. Check the neighborhood is desirable so you can be assured of a rise in value over time too. Happy vacations.

Saturday, June 17, 2017

Avoiding Sticky Financial Situations: When To Seek Advice

bad money condition
There comes a time in life when many of us could benefit from expert help. Money is a worry for many people, but often, getting professional help at the right time can prevent sticky situations. If you’re keen to avoid difficulties and keep your finances on track, here are some scenarios when it may pay to seek advice from the experts.

Getting back into the black

If you have debts, no matter how large or small, seeing a financial adviser can be incredibly beneficial. There are some ways of getting out of the debt that are much more effective than others. You may be paying a huge amount of interest on a credit card, for example. Consider the option of shifting that balance to an interest-free card or paying off that debt and using the money you would normally pay out in interest every month to cover other bills. There are ways of restructuring your finances to get more for your money, and you may not be aware of these tricks unless you’re in the trade. If you have significant debts and you’re facing an uncertain future, it’s particularly important to seek help, as there are solutions out there.

Taking legal action

Losing your income can have a serious impact on your future. If you’ve been injured at work or you’ve been in an accident, which wasn’t your fault, it may be possible to claim compensation. If you’ve been forced to take a long period of time off work or even give up your job, sites like www.wyr-law.com can help you find out more about making a claim and finding the best personal injury lawyer. It is possible to take legal action without guidance, but the process is likely to be time-consuming, and if you’re already under a lot of stress, having experts in your corner can be hugely beneficial. You’ll have a better chance of winning your case and hopefully, securing a payout, which can give you security in the future.

Running a business

If you’re self-employed, you’ll soon find that managing your finances is very different to being employed and receiving your salary via a direct payment into your account each month. You’ll need to take control of your books, work out how much tax you need to pay and show evidence of deductible expenses. If you’re new to the world of self-employment, it’s a good idea to get some advice when you’re working out tax calculations and organizing your accounts, and pages like this may prove useful https://www.entrepreneur.com/article/250812. Working with an accountant will eliminate stress and hassle, save you time, and ensure you’re doing everything in the right way. 

Nobody wants to think about a time when they’re faced with debt, losing their job or worrying about the tax inspectors coming knocking at the door. The reality is that these scenarios could affect anyone. In some situations, you’ll find it much more beneficial to seek help than try and battle on independently. Getting expert advice can make life a lot less stressful and improve your chances of reaching a positive outcome.