Author: Complete Controller

A premium is a set amount paid regularly to maintain your insurance policy current and in effect. Payments might be made monthly, quarterly, semiannually, or annually, depending on your insurer and insurance type. You’ll save money whenever you pay your annual premium in one single sum, and you may be eligible for a cheaper rate.

There is usually a grace period if you neglect to pay your premium. However, even if the missed payment was an honest error, an insurance provider might terminate your coverage afterward.

A health coverage price is a price you pay when you purchase insurance. Simply put, premiums are the sums of money you give to insurance firms in return for coverage. As a result, consider “insurance premium” synonymous with “insurance price.”

Depending on the insurance, premiums are usually paid monthly, semiannually, or annually. Some insurers may give you a modest discount when you bundle your plans or pay your premiums annually.

Your insurance policy is determined by the type of insurance you purchase, such as life, renters, car, or homeowners’ insurance. You may be asked for a monthly premium, which you must pay before your provider begins to pay for your legal costs.

Premiums for Insurance and the Variables That Impact Them

The amount of premiums you pay is influenced by several factors. Some criteria are particular to the policy, while others depend on you, the policyholder, or the nature of the assets you cover.

Here are some frequent factors that influence the cost of homes and auto insurance:

• Limits on coverage
• The amount that you can deduct
• Credit for previous claims

Insurance Prices for Automobiles

The quantity of coverage you choose and your age, driving record, claims history, and the car are all factors that determine your auto insurance prices.

The most expensive option is full coverage, covering accident, extensive, and catastrophe insurance. Compare vehicle insurance alternatives while looking for coverage to get the best deal.

Life Insurance Premiums

Insurers frequently evaluate your age and medical history when deciding life insurance prices. Your payment history, the amount of coverage you select, and your employment status are all factors that determine the price.

Because everlasting plans, such as complete insurance coverage, protect you for the rest of your life, they are the most expensive of the several types of life insurance. On the other hand, a life insurance policy covers a specific time, ten or twenty years.

Premiums for Renters’ Insurance

Renters’ insurance costs, on average, between $10 and $25 per month, according to the National Association of Insurance Commissioners. The worth of your belongings influences the cost of premiums, whether the building has an alarm system, and how close fire protection services are. Before purchasing coverage, compare the renter’s insurance quotes.

Homeowner’s Insurance Premiums

In 2018, the average annual homeowner’s insurance premium was around $1,200, according to the most available regional office data. The cost of homeowner’s insurance is decided by several factors, including the location and value of the structure, your credit score, claims history, and the amount of compensation you want.

Premiums for Travel Insurance

Below are some of the factors that impact your travel insurance premium:

The chance of filing a travel insurance claim is affected by your age, with older travelers filing more claims. Travel insurance prices are determined mainly by the amount of trip expense you’re insuring. You wish to protect yourself against the loss of pre-paid and non-refundable deposits.

Premiums for Pet Insurance

Pet insurance is like pet health insurance. The following elements are considered when calculating pet insurance premiums:

Pet insurance prices climb as pets become older since they are less prone to disease or injury while they are younger. Some breeds are more prone to inherited diseases than others, raising your insurance risk and lowering your cost. In addition, dog insurance is typically more expensive than cat insurance. According to insurance data, male pets have more claims than female pets; hence, some insurers charge more for male pets.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Everyone wants their service charge waived now and again to help them save money on certain services. Here’s a quick rundown of how a fee waiver works, especially for students.

When a university charges you less than usual, this is known as a fee waiver. For example, if the annual price usually is $9,000, the waiver may decrease it to $6,000.

Because a fee waiver seldom covers all the expenses, you’ll need a Tuition Fee Loan to cover the remaining costs. If you qualify for the Tuition Fee Loan, a fee waiver will only lower the size of your student loan.

It will not affect you until you have graduated, are earning enough to make loan repayments, and have already paid off most of what you borrowed due to how repayments operate. A fee waiver will not provide you with more funds while studying.

If you don’t qualify for a loan (for example, because you already have a degree), a fee waiver will allow you to pay less for your fees each year. However, you won’t be eligible for a fee waiver if you don’t qualify for a loan at most institutions.

Don’t be Harsh and Disrespectful

You may always be correct as a client — at least according to the old saying — but you are not a king or queen. That sales assistant or employee might not have had the power to discount service or handle costs in some situations. The individual you’re speaking with almost always tries to perform their job. You’re better off yelling at a magazine rack if you’re angry with them.

Kindness matters now more than ever. Being courteous dramatically improves your chances of receiving what you desire. Finally, you’re requesting a favor, and who wants to perform a favor for someone who criticizes or dismisses them? Nobody.

Schedule an Appointment with a Higher Authority

It doesn’t matter if you’re at the bank or talking to your recycling company on the phone: Few customer service or sales representatives like bringing a problem to their boss’s notice. Additional (and time-consuming) practices or documentation may sometimes be required. Most of the time, it’s just a pain. You could motivate the person you’re speaking to work harder to see what can happen to set things right by asking to talk with someone higher up the food chain.

Remind the Organization of Your Worth

Customers are the lifeblood of every business. In most sectors, gaining a new client is more complicated — and expensive — than keeping an existing one. Sometimes, all it takes is respectfully reminding a customer support representative of this information to get a charge waived. This strategy works exceptionally well for groups where I’ve been a member or supporter for years if not decades.

Think About Account Closure?

While this strategy isn’t appropriate for every firm, it may be quite beneficial in certain. Threatening to cancel and replace my cable service with a rival has saved me thousands of dollars over the years.

It’s critical to maintain politeness once more. Before threatening to leave a service, I generally emphasize how much I appreciate and cherish it. Then I explained that I would have to reconsider canceling my account due to the high costs.

It sometimes leads me nowhere. It may also result in the charge being waived. Even though I’ve been a client for years, it sometimes means the costs stay the same, but I’m transferred to the monthly rate offered to new customers for the following 12 months, even though I’ve been a customer for years.

Examine the Small Print

You might be shocked by the number of businesses with specific requirements you must follow to avoid paying fees. Most banks, for example, provide a range of alternatives to prevent monthly expenses, such as signing up for direct deposit, holding a savings account with the same institution, or maintaining a minimum monthly level. If you’re like my boys and regularly use delivery services for food, groceries, and other products, many of them will decrease or eliminate costs if you join up for a membership.

In essence, you’re exchanging your regular usage of its services for the company’s tacked-on service costs.

Service costs that aren’t specified don’t have to be included in your monthly bills and purchases. If you take the time to investigate the problem and explain your circumstances, you might be able to remove that mystery cost from your following statement. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Always know that the interest rate is individually based on your financial situation. Even if the lenders or loan intermediaries show an excellent “off-interest rate,” you rarely manage to get that interest rate.

Do Not Apply For Too Much

Of course, it is tempting to borrow as much money as possible. Unfortunately, lenders’ evaluation systems do not work that way. The usual principle is that the more significant the loan amount, the changes in the interest rate. There may be nothing new or revolutionary for you. But it is easy to forget it once you are sitting there with your loan application.

Once and for all. You must seek the minimum amount you need.

Typically, lenders are more generous with loan amounts and interest once you have had a loan with them for a period. Provided you handle the payments that are.

Therefore, they are better if you extend your loan after a couple of months. Or even better after a year.

Use the “Right” Salary in the Application

Do you know the most critical parameter when applying for a personal loan?

You have an income of more than $70,000 per year, or if you have no income, you will not get a loan. There is no way past it. But I guess you have a salary of over $4,500 / month. Then, you will have no problem getting a loan. However, you must enter the correct salary.

I mean the highest salary you get from your employer by the proper compensation. So, you must track whether you will receive a salary increase or it may be time for a salary interview.

Remember that the lender always takes out a credit report showing the previous year’s taxed income. It means that it will not correspond to your specified salary if you have received or will receive a salary increase. But do not worry. You must submit your latest salary specifications verifying your new income.

Choose a Realistic Repayment Period on Your Loan

Instead, I would choose a repayment period of 3-7 years, which gives lower interest rates. In this way, you improve your risk profile for the lender.

And it would help if you never forgot that you can always make extra repayments whenever you want.

As I mentioned in tip # 1, it is easier to change your terms as you and the lender build relationships.

The lender can extend the loan period while maintaining the interest rate after a couple of months.

Find a Co-Borrower

The only problem is finding a person who trusts you fully. Then, that person, as I said, will be forced to repay the loan if you cannot afford it.

So, most likely, it’s a family member or maybe a close friend. Ensure you are clear about what you will use the money for and that you have made a budget. A budget that shows that you can repay the loan. In order not to disappoint the co-applicant.

Improve Your Credit Rating

The most crucial basis that the lender has for evaluating your loan application is credit information. The credit information usually obtained shows:

• Your taxed income
• Place of residence
• Surplus capital
• Existing debt
• Payment remarks
• Most recently requested credit reports

Do Not Apply to Several Different Lenders

It may sound strange; should you not expose several different lenders to compete against each other?

Both yes and no.

Once you fill out a loan request, a credit report is retrieved. Your credit report lists all the credit information collected in the last 12 months.

Compare Different Lenders

Of course, I take the most straightforward and crucial tip last. To get the lowest interest rate, you must compare different lenders against each other. But wait, you said it was negative, right? Yes, if you apply for a loan from several different lenders.

Instead, use a loan broker. A loan intermediary acts as an intermediary between you and various lenders. They collect ONE credit information from you, which they can share with several lenders.

If you are lucky, a lender wants to lend more money and offers good terms on their loans. Most lenders work with 20-40 different lenders. So, with a credit report, you can get offers from up to 44 other lenders.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

How we retire will determine how our lives will be in the future.

To achieve the target number for retirement, we need to live as economically as possible, increase income, and maximize retirement savings.

Here are tips on what things need to happen before retiring to make it easier.

Plan Your Retirement Time

Between retiring at the end of 2021 and applying in January 2022, there is a significant difference in terms of pension. If you use it before the end of the year, you will be eligible for this year’s January and July pension hikes. If you apply in January 2022, you will use only the higher amount for your pension. In addition, there will be a difference in how the pension is calculated.

There is a specific difference in pension between retiring by the end of 2021 and applying in January 2022. If you use until the end of the year, you will add this year’s January and July pension increases to your pension. If you apply at the beginning of 2022, you will add only the increased amount to your retirement in January of the New Year. There will also be a difference in the determination of the pension.

The thing to do before the first retirement is to plan for retirement. If you plan to retire before the specified deadline, you must carefully plan.

This retirement plan must also pay attention to our needs for old age, including housing, financial planning, and what activities will be carried out during retirement.

If you feel you can’t decide for yourself, you can ask your partner or financial planner for advice. It is essential to get the views of others.

Also Read: Recognize 4 Signs We’re Not Ready to Retire Early, Don’t Take the Mistake.

Pay off Debt

Before the second retirement, the thing to do is pay off all debts. Make sure we record all debts or credits owned.

We can also stop using credit cards at retirement and start shopping with cash.

As we get nearer to retirement, we must ensure all debts, even the smallest ones, have been paid off. It is essential not to be overwhelmed by paying large debts but no more income.

Determine Monthly Expenses

Before the third retirement, the thing to do is determine the monthly expenses.

Of course, we need to look at how much money we need when we retire again—both monthly and annual expenses.

Don’t forget to consider the number of unexpected expenses that could occur. Ideally, we can discuss this with a partner to minimize the risk.

Also Read: This is a smart way to retire earlier so you can enjoy life. Do you have to be disciplined?

Save Pension Funds for Investment Instruments

Before the fourth retirement, the thing that you must do is save the pension funds into investment instruments with low risk.

We can still benefit from pension funds by putting them into low-risk investment instruments.

Please don’t take the risk by keeping it in high-risk instruments.

The pensions of those you first insured before 2000 and between 2000 and 2008 and those with insurance after 2008 are calculated differently. The pension is calculated according to the number of premium days, monthly average earnings, inflation, and growth rate in its simplest form. The pension amount multiplies the average monthly earnings with the monthly bonding rate calculated according to premium days. Average monthly payments are also calculated according to periodic consumer inflation and add 30% to the growth rate. The pension happens by multiplying the updated monthly earnings and the pension rate, and this salary is increased at the rate of past inflation.

Check Retirement Balance

The thing that you must do before the fifth retirement is to check the entire balance of the pension plan.

Employees usually get pension benefits from the company or the employer.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Best Ways to Do a Competitor Analysis: Unlock Your Business Potential

When I stepped into the business arena two decades ago, the one truth I quickly realized was that understanding your competitors isn’t a nice-to-have–it’s an absolute must. As the founder of Complete Controller, I’ve experienced firsthand how competitor analysis can give you the edge you need to dominate your space. Whether you’re an entrepreneur just starting out or a seasoned business owner, taking a strategic look at what’s working (and not working) for others in your marketplace can transform your business. Here’s how to do it with precision, purpose, and profit in mind.

Why Competitor Analysis Matters

Competitor analysis isn’t the same as sneaking peeks at your rival’s website or regurgitating their playbook. Think of it as professional competitive intelligence—a finely honed practice of identifying what works, what doesn’t, and exactly where your business can outshine the competition.

Take a classic example: the rivalry between Coca-Cola and Pepsi. In the 1980s, Pepsi’s “Pepsi Challenge“ campaign created quite a stir. Coca-Cola could have folded under the pressure, but instead, they leaned into competitor analysis, identifying Pepsi’s growing appeal with younger audiences. Their response? A major shift in marketing with emotionally charged campaigns, including “Taste the Feeling,“ which emphasized brand loyalty over taste tests. This wasn’t just a reaction—it was a strategic action born out of competitive intelligence.

Steps to Conducting a Strong Competitor Analysis

Identify your competitors

Before you can rise above your competition, you need to know who they are. This means identifying both direct competitors (those offering similar products or services) and indirect competitors (those solving the same problem in a different way). For example, if you own a gym, don’t just focus on other gyms—consider digital fitness influencers and app-based personal trainers as indirect competitors.

Practical Steps:

• Search industry-relevant keywords online to see who ranks high in search results.
• Use platforms like SimilarWeb to uncover hidden competitors you may have overlooked.
• Pay attention to who’s attracting your target audience on social media or at industry events.

Gather key data

A good competitor analysis starts with good data collection. Think of this phase as putting on your detective hat. You’re not guessing; you’re systematically tracking metrics and clues.

What to Analyze:

• Revenue and Market Share: Use tools like Talkwalker or SEMRush to track performance.
• Customer Reviews and Feedback: Scour online reviews on Google, Yelp, and Trustpilot for insights into customer pain points.
• Pricing Models: Is your competition charging premium rates—and if so, what makes their offer worth it?

Tools to Use:

• Talkwalker for customer sentiment tracking.
• SpyFu for traffic and keyword data.
• Ahrefs for competitor backlink insights (more on that below).

And don’t forget analyzing your business alongside the competition requires accurate bookkeeping. Learn more about maintaining accurate financial statement accuracy to support informed decisions.

Analyze SEO performance

Want to know one of the quickest ways to understand your competitors’ strategies? Dive into their SEO game. By reviewing their keywords and backlinks, you can unearth opportunities they’re missing—and capture that audience on your end.

How to Do It:

1. Check Their Keywords: Tools like Ahrefs or SEMRush can reveal high-ranking keywords your competitors frequently target.
2. Audit Backlinks: These tools will also show which high-quality websites are linking to your competitors, offering you a chance to approach similar publishers.

Pro Tip: When reviewing their content, ask yourself, Are they leaving any questions unanswered? This is your golden opportunity to create richer, more thorough articles, blogs, or product pages to fill the gap.

For further guidance, you can explore a detailed checklist for SEO competitor analysis.

Conduct a SWOT analysis

A SWOT analysis—Strengths, Weaknesses, Opportunities, and Threats—is a tried-and-true way to decode what separates your competitors from the pack. This breakdown will help you spot easy wins or risks in your market.

Example SWOT Analysis:

	Factor	Example
	Strength	Visible brand engagement on Instagram.
	Weakness	Slow response rates to online inquiries.
	Opportunity	Competitor lacks email marketing strategy for customer retention.
	Threat	Digitation driving newer competitors targeting younger demographics.

For an in-depth exploration of SWOT analyses, take a look at this comprehensive resource.

Monitor competitor metrics

Numbers don’t lie, and competitor performance metrics offer an unfiltered snapshot of their success. Focus on benchmarks that apply to your industry.

Metrics Worth Monitoring:

• Market share trends: Use a tool like SimilarWeb to keep your pulse on market movements.
• Customer acquisition costs and retention rates.
• Social media engagement and ad campaign spends.

Once the data is collected, don’t just let it sit. Make those insights actionable to give your business the edge it needs. For instance, if a competitor seems unbeatable in direct sales but fails in digital ad performance, that’s a clear opportunity to dial in with PPC advertising strategies.

Regularly revisit your analysis

Here’s the thing about markets—they evolve faster than we often realize. That’s why this isn’t a one-and-done process. Conducting your competitor analysis at least quarterly keeps your strategies fresh and responsive.

Tools That Simplify Competitor Analysis

Running a competitor analysis from scratch can feel like building IKEA furniture with no manual. Thankfully, there are excellent platforms that make gathering insights easier.

Top Picks:

• SEO and Traffic Analytics: Ahrefs, SEMRush, SpyFu.
• Competitor Sentiment Tracking: Talkwalker.
• Market Intelligence: SimilarWeb, Statista.

Make Your Data Work

Here’s a hard-earned lesson from my years as a CEO: A competitor analysis is only as good as what you do with the information. It’s not about spying—it’s about innovating. Know what your competitors are great at, adopt what works for your audience, and then find ways to refine an already winning formula.

Conclusion

A competitor analysis isn’t just another task on your to-do list—it’s a superpower for smarter decision-making. Identify the gaps, refine your strategy, and innovate like you mean it. As I tell my clients, progress happens when you stop aiming for “good enough“ and start striving for exceptional.

Let’s not stop here. Ready to elevate your business intelligence further? Work with expert strategists at Complete Controller here, and let’s take your business to new heights.

FAQ

How often should competitor analysis be done?

Quarterly updates are ideal to stay informed and adapt to rapid market changes.

What tools should I prioritize for small businesses on a budget?

Start with free tools like Google Analytics mixed with affordable options like Ubersuggest for SEO.

Why study indirect competitors?

Indirect competitors may offer creative solutions targeting your customers’ same goals—they’re a valuable source of inspiration.

Does competitor backlink analysis really help SEO?

Absolutely. Strong backlinks show you which sites value your competitor’s authority. That’s who you should reach out to!

Sources

• Talkwalker
• HubSpot: What Is a Competitive Analysis?
• Query Article

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Private Limited or Public Limited Company

Choosing the most suitable capital company types will help you know the common aspects and differences between limited and joint-stock companies. These two types of companies are different in terms of the responsibilities of their partners, capital, company organs, and Transfer of share transactions. The good sides that can enable public limited companies to be preferred over limited companies constitute the scope of our study.

What is a Private Limited Company?

The partners are not accountable for the company’s debts for their assets. Actual and legal persons with more shareholders can create them. They can operate in all economic issues not prohibited by the law. At least one partner has the right to manage and represent the company, and the number of partners is 50.

What is a Public Limited Company?

Legal persons with one or more shareholders can establish a company type. It can operate for all economic purposes and issues not prohibited by law, and the number of partners can be unlimited. The commercial volume of the joint-stock company is also high. It is also open to the interest of investors as they can do share transfers easily.

Advantages of the public limited company over the private limited company

• Capital amount and payment of capital

The primary capital, which represents the capital fully committed in the articles of association, is 50.000 TL. The initial capital cannot be less than 100.000 TL in non-public joint-stock companies accepting the registered capital system. A company can be established with a capital of at least 10,000 TL in limited companies.

• Registered capital system

It is possible to accept the “Registered Capital System” in all INCs, regardless of whether they are public or not. The Board of Directors is authorized to increase the capital to the registered capital ceiling without holding the general assembly meeting. 

• Number of partners

The number of partners in limited companies is at least one and 50. Joint-stock companies can have a minimum of 1 and a maximum of 500 shareholders. The existence of more than 500 shareholders is possible by being a public company. Of course, for companies established with special permission, the limitations in the relevant legislation apply.

• Going public and issuing bonds

Corporations have the opportunity to go public and issue bonds. However, Limited Companies do not have the chance to go public and issue bonds.

• Equity and equity printing

Share certificates can be the bearer or registered. Bearer share certificates cannot be issued for shares whose values have not been fully paid.

Limited companies cannot issue bearer shares. They can print a “registered share certificate” but only use it to prove a partnership. There is no tax advantage in selling registered shares of limited companies. It will be subject to tax-like Transfer. This situation is discussed extensively in the following sections of our study.

• Share transfer

The Transfer of share certificates is valid for the company and third parties only by transferring the possession. There is no obligation to move before a notary public to be approved or registered at the general assembly.

In limited companies, the Transfer of the basic capital share and the transactions that cause the transferred debt are made in written form, and the parties’ signatures are notarized. You must register share transfer approval with the Trade Registry. There is a stamp duty on the sale of restricted company shares.

• Obligation to work with a lawyer

It is not obligatory to work with a lawyer for limited companies. Still, if the capital amount is over 250,000 TL in joint-stock companies, it is mandatory to work with a lawyer.

The legal basis for the obligation to have a lawyer in joint-stock companies is included in the third paragraph of Article 35 of the Attorney ship Law No. 1136 [1].

• Management rights and representation authority

According to Article 365 of the Law, as mentioned above, the joint-stock company is managed and represented by the directors.

In joint-stock companies, at least one of the partners is not obliged to be a manager or representative of the board of directors.

• Corporate management

Joint-stock companies are more advantageous in terms of organization and corporate identity creation. It also creates a perception of a more reputable and prestigious company identity to the outside. Being a joint-stock company, The Company will cease to be a family business and gain a corporate appearance.

Tax advantages of joint-stock companies

Joint stock companies are subject to corporate tax law with rules similar to those of other capital companies. There is no difference in deductible expenses or expenses that are not legally accepted, and the calculated financial profit is subject to 20% (22% in 2018-2019) corporate tax.

Corporations are subject to special permission

By the Communiqué on the Raising of the Capital of Joint Stock and Limited Companies to New Minimum Amounts and the Determination of the Establishment and the Determination of the Joint Stock Companies Subject to the Permission to Amend the Articles of Association [5], the companies whose establishment and amendments to the articles of association are subject to the permission of the Ministry of Customs and Trade are as follows:

• Banks
• Financial leasing companies
• Factoring companies
• Consumer finance and card services companies
• Asset management companies
• Insurance companies
• Holdings established as joint-stock companies
• Companies operating foreign exchange kiosks, companies dealing with public merchandising
• Agricultural products licensed warehousing companies
• Product-specialized stock exchange companies, independent audit companies, surveillance companies
• Technology development zone management companies
• With companies subject to the Capital Market Law

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Bankruptcy is a federal measure that allows people in debt to start fresh.

This legal process can protect you from your creditors. Bankruptcy proceedings, which are not for everyone with debt, can be helpful, depending on your circumstances. There is more than one bankruptcy proceeding type—five different types. The two most common are Chapter 7 and Chapter 13 proceedings.

Usually, when people talk about “declaring bankruptcy,” they mean Chapter 7. Chapter 7 is the procedure that allows you to erase everything, avoiding almost all your debts without making any more payments in the future.

There are strict limits on how often a person can file for Chapter 7 proceedings.

Chapter 13 is a different type of settlement. It allows you to consolidate your debts and pay off all or part of them while protecting you from being harassed by your creditors.

It is often an excellent alternative when the Consumer Credit Council or Chapter 7 are not available options.

Understanding Chapter 13 Bankruptcy

Bankruptcy 13 gives you a fixed term to resolve your financial arrears. After analyzing your finances, we can propose a payment plan for 3 to 5 years to the Court.

The 13 bankruptcy is different from the 7. It requires monthly payments based on income and is aimed at people who cannot file a seven-bankruptcy due to their financial resources.

Several conditions must be met to file a 13 bankruptcy successfully. You must earn enough to convince the Court that you have money available from your income and propose a payment plan to repay your debt.

If you cannot develop a reasonable repayment plan, the Court will not approve the bankruptcy 13.

Bankruptcy 13 also allows you to cut the payment of second mortgages on the debtor’s residence when the estate’s value is less than the balance of the first mortgage. It also allows you to reduce your secured debt balance to a pledged personal property value. In this sense, in in-vehicle loans, the debt can be divided into guaranteed and unsecured, and you can pay only the guaranteed amount according to the asset’s current value.

 A second mortgage elimination action will be treated as unsecured debt and partially paid in the payment plan. Similarly, with vehicles, the debt is only paid up to the asset’s market value, and the non-guaranteed balance is partially paid within the plan.

Understanding Chapter 7 Bankruptcy

Bankruptcy protects you from collection agencies, wage garnishments, bank account garnishments, foreclosures on your home, and vehicle repossessions. The Court issues an automatic stop and collection order that protects you from these actions from the first day of bankruptcy.

If you are not yet in a collection but can no longer handle your credit card debt, medical bills, personal loans, repossessions, etc., we can help you.

If you are in long-term delinquency or facing an impending foreclosure on your home or repossession of your vehicle, we can help.

 If your situation is one of the above, Chapter 7 can provide you with the protection you need and help you get ahead. Allow attorney Jorge Halperin to guide you.

Understand Chapter 11 Bankruptcy

Chapter 11 allows a business to reorganize its operations and finances while continuing day-to-day operations.

How Long Does the Bankruptcy Process Take?

After Chapter 7 bankruptcy is filed, it generally takes three months to complete.

Of the creditors: However, when bankruptcy is filed, you are effectively discharged of your debts. If all your aid is exempt, and no one objects to your discharge, you will receive your discharge of debts about 60 days after the filing. (This meeting happens about 30 days after you file the petition that starts the case.) The terms for chapter 13 are different.

The Chapter 13 plan usually is three years, although you can extend it to five years under certain circumstances.

If you filed a Chapter 7 bankruptcy and got a discharge of your debts, you must wait eight years before filing another Chapter 7.

You cannot get a discharge in a Chapter 13 case if you have received the following:

A settlement in a prior Chapter 7, 11, or 12 patients that you filed in the four years before the current Chapter 13

However, there are circumstances where you can initially file a Chapter 7 and later a Chapter 13 in less time. Talk to a bankruptcy attorney to see if this approach (known as Chapter 20) is appropriate for your circumstances.

Do I Need an Attorney to File for Bankruptcy?

Individuals and sole proprietors are not required by law to retain an attorney. But you may want to discuss an attorney to ensure that bankruptcy is the best option for you and, if so, that you are taking the proper steps to file.

Also, know that filling out all the required documents can be difficult. If you do this independently, you can get an information packet by contacting the Bankruptcy Court. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Often, business people are misunderstood; most people imagine them as a group of daring explorers with inflated egos, an insatiable appetite for risks, and no fear of failure. Others believe all innovators, like Bill Gates or Steve Jobs, are tech-competent. While it’s true that many entrepreneurs are self-assured, the entire picture of a typical business owner’s personality is far more complex. Recent studies on the personality qualities of entrepreneurs and what character traits can boost their chances of business success can teach newer business owners some valuable insights.

Entrepreneurs Don’t Always Take Risks

Usually, people think of people in business as risk-takers, but a recent study shows that they aren’t all reckless. Entrepreneurs are like the rest of us when taking risks, except when beginning a business. Entrepreneurs are typically self-assured when establishing a business. Even said, not everyone is a terrific explorer. Many innovators are pleased to live a tranquil life until they are motivated to concentrate their risk-taking efforts on a specific area of expertise where they sense an opportunity. Almost everything we do entails danger, so we constantly make decisions based on our risk perception. We would be like most of us if we didn’t take the risk. Many have obligations that force us to stick to the current system and avoid taking risks with our professions to protect what we’ve worked hard for and been entrusted with. We all know that the world needs people to realize their dreams. Nothing would ever progress without them. Our world would not improve without thinking creatively and pushing us ahead in new areas by challenging the existing system.

Entrepreneurs Require Careful Trust

It is not for the weak-hearted to embark on a career as a businessman. Many enterprises fail or fall short of the owner’s original objective. Entrepreneurs must have confidence because launching a firm is hazardous and laborious. Their efforts are required to establish the next Apple, Facebook, or Google, even if many will fail along the way. Entrepreneurs strongly believe that their business ideas will thrive, and they are confident in their abilities and prospects of success. However, they don’t establish firms haphazardly; instead, they look for chances where their idea or organization may prosper when others might fail. Entrepreneurs are aware of the consequences but believe there is an exception for them. 

Business Failure Is Not the Sign to Give Up

In innovation circles, it’s common to say that failure isn’t a terrible thing in innovation circles. Still, new data reveals that entrepreneurs who fail their first business venture are less likely to succeed in starting subsequent enterprises. So, while failure isn’t the end of the world, it’s always crucial for people in business to do their research before taking the next step. The best entrepreneurs are motivated by a firm belief in doing rather than pride or uncontrolled boldness. Business owners highly regard popular culture as a positive thing since they perform a valuable service to society by taking risks and founding businesses that may develop to create jobs and provide services that improve people’s lives. However, entrepreneurs mustn’t become enamored with themselves or trust their invincibility. Be confident, but be aware of any drawbacks. Recognize the dangers.

Success, Challenge & Learning

Understanding why people become business people is critical to developing educational programs to support and advise others, notably lawmakers, on assisting businesses. The challenge of solving a difficulty using technology has inspired countless business owners in the United States and worldwide, establishing some of the world’s most successful businesses. This motivation can assist anyone with a strong desire for self-expression and creation. Chefs, graphic artists, vocalists, fashion designers, vintners, and builders have resorted to business to express their creativity, utilize their skills, and solve complex problems. Because some entrepreneurs are driven by a desire to invent the next big thing, seeking financial stability is more common. Because of their lack of education, communication issues, unlawful discrimination, or prior incarceration, they may be unable to work in typical jobs. For them, starting a business and creating possibilities is one of the most acceptable ways to reach financial security. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

1. Tax declaration procedure

Individuals or businesses tell themselves how much they earn in specific periods and how much tax they pay on these earnings. A particular group does not declare their income and thus does not pay their taxes or pay less. The government conducts tax inspections and cross-checks occasionally to prevent the informal economy.

The tax declaration happens through order, such as VAT and Withholding. It was filled in paper form and given to the tax office in the past. Now, it is loaded and provided in electronic form. A unique form of declaration shows calculated taxable income.

2. Periodicity in taxes

Taxes are declared periodically. Some are every month, some are every three months, and some are annual. The responsibility of each period is limited to that period. In other words, you should report an income you receive in March in a type of income submitted monthly.

3. Types of taxes

Let’s start with the basics and ask, “What is taxing?” Let’s start with the question. Paying taxes is money citizens yield to the government according to their financial power to fulfill its duties. The state aims to create resources and cover investments and expenditures by paying taxes. Contributing to growth is also essential for regulating income sharing.

At this point, why do we “pay taxes”? Some may wonder. Paying taxes is considered a civic duty.

The state aims to provide a healthy, safe, and peaceful order with the taxes paid.

Depending on the type of income, tax rates, calculation of tax, and declaration period vary. e.g., VAT (value-added tax) is calculated on the transaction, is included on every invoice, and has an overall rate of 18%. Its declaration is submitted monthly, and the taxes paid to the suppliers are deducted from the monthly taxes collected from the customer. The remaining amount goes to the government. If you have a vehicle, Motor Vehicle Tax is calculated and delivered based on the lists published by the state.

By the way, “How is VAT to be paid to the government calculated?” The trick in this calculation is to determine the VAT amount in the purchase and selling price, subtract them from each other, and pay the remaining VAT amount to the government by deducting them from your expenses. Let’s answer the question.

Common tax types:

• WATT
• Concise
• Corporation tax
• Income tax
• Temporal tax
• Stamp duty

4. What are income tax, corporate tax, and withholding?

The tax levied on individuals is called income tax. Business tax is corporate tax. Individuals report their income to the state once a year in March with a declaration they will prepare.

In a commercial transaction, one of the parties can work with Self Employment Receipt or Expense Compass. In this case, the state does not wait until the end of the year to collect income tax. The state takes the company that makes the payment as the addressee and asks it to make a deduction while making the payment.

The company’s making deductions is withholding tax. The company pays these deductions to the government at the end of the period with a concise statement. Withholdings can include salary payments, rent payments, payments made with self-employment receipts, or expense slips.

5. How do you pay tax debt?

First, “What is a tax debt?” Let’s answer the question. The realization of the taxable event gives rise to the tax liability. It is essential to pay on specific dates. For example, a traffic ticket, this penalty appears as a tax debt submitted to the tax office.

As for how company tax payments happen, your income is declared on time with the tax return. After the declaration is issued, the tax office gives an accrual slip against this declaration. You pay taxes on an accrual slip, not on a return. So how is tax paid?

With the accrual slip, you can pay through public bank branches, the internet branch of public banks, or the tax office.

Your financial advisor cannot pay your tax; it is prohibited. The financial advisor cannot take money from you to pay your taxes. You can track your tax debts online or go to the tax office and get the transcripts.

6. What happens if the tax debt is not paid on time?

The accrual slip received after submitting the tax return shows how long you should pay this tax. The tax is paid without penalty until this date. A tax delay penalty will be applied for taxes not paid until this date.

There is no big problem with paying the tax late, except for the late interest. If the tax amount is too high, the tax office may block your bank accounts to ensure their receivables. One of the tender conditions, especially in public tenders, is the absence of tax debt. You may not be able to enter the tender when you owe even 1 TL tax. It’s always best to pay taxes on time if you have the cash to spend.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

How Foreign Companies Take Care of the Mental Health of Employees

Companies began to give additional employees leave more often to combat professional burnout. The other day, Nike took a break from work.

The sneaker and sportswear manufacturer organized an unscheduled week-long vacation for the office staff in late August. They advised subordinates to ignore work messages and responsibilities to maintain mental health.

For example, the social network LinkedIn and the dating service Bumble took the same step.

Kommersant FM asked top managers if they could release most of their employees from work for a week.

The owner believes that seven days will not be enough to treat burnout:

“No week of vacation can cure it. Employees must be motivated by constant, interesting challenges and a good attitude. Giving additional leave with such motivation is unjustified. And so, you can burn out not professionally but generally in life. A person can say he is tired and ask for a week off. It’s possible; it’s normal.”

According to Vladimir Gurov, a member of the board of directors of the Bolshevichka Joint Stock Company, vacations are primarily necessary for workers in creative professions.

“Creative people, whose intellect must be sharpened all the time, should be allowed to rest to restore their “instrument.”

If a person burns out at routine work, this is one thing; these are losses. Here, looking at the load and finding some countermeasures is necessary. And when it is not monotonous but creative, the purpose of which is to generate some ideas, it is essential to give it a rest. And, of course, here we are not talking about losses but gains.

Sergei Choban, the managing partner of the SPEECH Choban & Kuznetsov architectural bureau, believes that everything needs to be balanced.

“Based on the psychological feeling, measured creatively oriented work is much more effective, in which there is no burnout because their creative people approach tasks smoothly.”

It is better than first, with tremendous pressure, to squeeze the last strength out of people, then send them on vacation, and then again raise them to some heroic work.

Using my office as an example, I can say that I sometimes leave work at 6:00 PM and am often the last one to leave. Arriving at 9:00 AM, I saw that some came in later. 

According to Glassdoor, about half of working Americans reported professional burnout at the beginning of the year. 

Often, the situation in the team turns out to be worse than management thinks, mainly due to lack of communication; Vasily Pidgin, chairman of the community of organizational development consultants at TTISI, explains:

“People burn out in almost any company, but few recognize this.”

The first criteria are objective working conditions, wages, and workload. The main problems are the management culture (if the manager does not suit me, I will leave) and corporate culture (relationships in the team). The third cluster is development opportunities.

Moreover, the leader and the climate are tactical problems that you can still somehow live with. The question of development opportunities gives rise to complex thoughts about the practicality of further work in the organization. It needs to be a topic of discussion, and the leader, not the employee, should initiate the conversation.

HR experts note that one-time bonuses cannot solve the problem of burnout. It would be most effective to give the employee more authority, explains ECOPSY Consulting partner Grigory Finkelstein:

“They set up fitness clubs, feed them for free, and let them go home. I have not seen people seriously engaged in the enrichment of labor.”

Here is one example of how products were sold: people who distributed them between the European and Asian markets, negotiated with customers, and organized delivery. Everyone is caught between the demands of three neighbors and feels like they are doing a pointless job. How did they do? They divided the products by market and name, and one person became responsible for everything. Thus, he sees all his work from beginning to end.

It became more accessible for people, and the company received much more money.

When management or improper work process organization is the leading cause of burnout, a quarter of respondents named vacation the best way to deal with it, and another 20%—a job change. In second place was the unhealthy atmosphere in the team.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.