Substance abusers receive primary care at a rehabilitation center for drug and alcohol abuse. A rehabilitation center has highly trained professionals who provide the best care to the recipient because they regularly handle various issues that alcohol and drug abusers deal with. Treatment options are plentiful and based on the person’s addiction level and mental and physical health.
Treatment facilities at a rehabilitation center are based on an intervention philosophy comprised of biological, physiological, and social factors. Research shows that no single treatment suits all drug and alcohol addicts, so treatment is more effective if customized treatments are offered to patients.
Outpatient Treatment Options at Rehabilitation Centers
Rehabilitation centers provide outpatient clinics for different types of drug and alcohol abuse and provide separate treatment sessions for different kinds of people with substance use disorders. Sessions help determine the substance dependency level in everyone.
The participant must undergo an initial evaluation to be admitted to an outpatient treatment facility. The initial assessment helps identify the causes of the addiction. Then, according to the mental and physical health of the patient, a good treatment plan is developed and discussed with the substance abuse victim and their loved ones.
Helping Teenagers Quit Their Dependence on Substance Abuse
Teens and young adults are at risk for developing an addiction, and the reasons behind their drug and alcohol abuse vary. Many teenagers suffer from mental health issues that lead them to consume alcohol and drugs. Therefore, they require primary care at a rehabilitation center to help them get their life back and avoid becoming addicted again.
Other recreational drugs, like ecstasy, are becoming popular among teenagers, and, as a result, substance abuse is a severe problem in our country today. Customized treatments for patients at a rehabilitation center help improve teens’ mental, physical, and spiritual health. It is difficult to know how quickly simple, casual drinking with friends could result in severe alcohol abuse. There are rehab programs that are designed to help teens struggling with addiction.
Recovery Programs at a Rehabilitation Center
Experts with extensive knowledge and completed research about drug addiction or alcohol abuse are aware of the negative consequences of addiction. A 12-step program is one of the best drug addiction treatment programs at a rehabilitation center.
Alcoholics Anonymous is famous for using the 12-step program; this therapy was developed in 1938. Alcohol treatment centers today use versions of the 12-step recovery program and generally include help for families of people with an addiction as well.
Assisting in Detoxification and Withdrawal
Withdrawal is the most painful part of the entire treatment process. Primary care at a rehabilitation center makes the detoxification process more accessible for the person with an addiction since detoxifying from different types of drugs, like Vicodin, codeine, Subutex, methadone, heroin, and ecstasy, is hard to bear physically.
Many popular rehabilitation centers provide steps to make the withdrawal process easier and as painless as possible. These steps allow the individual to:
Decrease or eliminate pain during the detox process
Help the patient regain their strength, sleep patterns, and appetite
Help in stabilizing the mood of the patient
Experts use different treatment methods to make detoxification as painless as possible. The safest and most reliable treatment plan is offered to the patient according to their dependence level. Some treatments help the patient sleep through the detox process.
Modern Facilities at a Substance Abuse Center
Some facilities at a rehab center have swimming pools, game rooms, and other interactive activities that help substance abuse victims get rid of their destructive habits.
The Ultra Rapid Opiate Detoxification is an effective treatment program that treats substance abuse victims, and treatment services are making this treatment service more mainstream. The treatment is gaining popularity due to its low risk of relapse and its meaningful results. It is ideal for patients who experience different painful sensations during withdrawal.
Customized treatments for patients at a rehab center are the most effective way of reducing physical sensations and physical dependence on drugs. It is an efficient way to get rid of physical dependence quickly and painlessly. Thanks to its low risk of relapse, detoxification is an excellent treatment option for substance-dependent individuals. Drug and alcohol rehab allows patients to experience the worst effects of withdrawal under the special care of experts. The participant usually feels no pain after waking up from the process. However, the person with an addiction must realize that addiction is a life-long disease, and they must continuously work to stay sober for the rest of their lives.
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.
Past-due payroll taxes can cause many problems for you and your business. Because of the increased efforts to enforce tax compliance, your business is threatened to shut down, and you could be subject to penalties, criminal investigation, and tax debt.
Small businesses have a higher chance of being subject to this tax compliance because they are the largest group suspected of being responsiblefor tax avoidance and evasion. For this reason, the Internal Revenue Service (IRS) targets these business owners, especially during critical economic times.
What Can Happen if You Have Such Problems?
If there are issues with your business’s tax payments, the repercussions can be detrimental, especially if the Federal Government takes on the extreme version of tax compliance enforcement.
Closing Down Your Business
Firstly, the IRS is exceedingly powerful, and if it becomes aggressive, it can take extreme measures, including locking your business’ doors and shutting down your business’s operations. Unfortunately, they can do so without getting it approved through a court order. They can seize or confiscate your equipment and machinery and even divert your account receivables towards themselves. Since the IRS has so much power and will use it against those who do not file appropriately or deposit or pay their taxes, dealing with payroll tax problems promptly becomes essential.
Hefty Tax Bills
Secondly, another thing that can become a problem is the fines and the penalties associated with payroll tax issues. These fines and penalties can continue accumulating large amounts, and a hefty tax bill is the last thing you want for your business. The three penalties that you would need to worry about if you do not solve your payroll problems are:
Failure to File – If you misreport or do not fill out your tax forms relating to payroll taxes at all, then you may be subject to this penalty
Failure to Deposit
Failure to Pay
This all can collectively add up to 33% plus interest, which can become too much to afford depending on your business’s conditions. The inability to pay these tax bills may lead to confiscation of assets or, worse, closure.
Federal Crime
Not properly filing or paying your taxes, including those concerning payroll, constitutes a crime against the federal government. Your case can be put forward to the Criminal Investigation Division, leading to a case referred to the Department of Justice if the IRS can prove that you intentionally avoided and evaded taxation.
Furthermore
It is illegal to use the money taken on behalf of payroll. It is common practice for many Small and medium-sized businesses to do so in a business’ operating expenses. Still, it is to be understood that money collected for withholding tax, Federal Insurance Contributions Act tax (FICA), and Medicare and Social Security do not belong to the business and must be paid to the government. Ideally, one must make a tax deposit three days after the payroll checks are issued.
Also
The IRS can come after individual owners and shareholders for unpaid payroll taxes. It has access to the Trust Fund Recovery Penalty (TRFP), which it can use against shareholders and owners. Even the thought of the IRS being able to penalize you can send shivers down one’s spine.
What Do You Need to Do?
If you are going to be audited or owe payroll taxes, it is recommended that you talk to a professional accountant. It can be problematic if you do not have expert help; imagine being without a lawyer in a courtroom. It would be much easier to face an audit or handle a non-payment if you have the services of a Tax Attorney or a Certified Tax Resolution Specialist.
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.
Fraud is more common than ever, and small businesses are at a greater risk of fraud than larger ones. Many organizations have policies, procedures, and documents to prevent and detect fraud. The key to preventing fraud is strict implementation of all written policies, making all positions accountable and answerable for their actions. Adopting effective fraud prevention strategies can reduce the risk of fraud.
Internal organizational controls should focus on preventing fraudulent cases. Understanding the mindset of a fraud criminal is important while developing anti-fraud policies. The best practices to prevent fraud are discussed below:
Fraud Prevention Through a Board of Directors
Many organizations have developed best practices and analytical approaches to safeguard their business and have attained revenue growth by preventing fraud-related loss. However, very few organizations use a board of directors to guide them and help prevent fraud.
Here are a few roles that a Board of Directors (BOD) can play to prevent fraud:
Hiring a new Chief Executive Officer
Resignation of four directors and hiring of three new
Hiring a new member to investigate
Education and certification of all employees
Refining internal controls and overhauling the code of conduct
While hiring employees directly involved in cash handling inventory management and having access to sensitive customers, always check their background history, employment history, and legal history, and ensure compliance with a code of conduct.
Provide employees space and flexibility to share views and problems with you to understand their personality better, and behavioral changes can be easily detected. Many honest employees can lean towards fraud in stressful, domestic situations, especially if organization policies are lenient against violations and misconduct.
Keep an eye on your employees, develop anti-fraud tactics, educate employees about dangers and preventive measures, and provide them with practical advice to prevent fraud. Make them vigilant and inspire them to report any threat to organizational assets and information.
Keep Detailed Records
Record keeping of all transactions, inventory, and cash in and out is integral to any fraud prevention solution program. Fraud criminals try to damage receipts or falsify inventory and transaction reports. Detailed and complete record-keeping systems should exist and should be free of loopholes. Cash coming in and amounts going out should be recorded, and payment records should be kept securely. An accurate financial statement is essential for internal controls and fraud prevention.
Solid, detailed records of all supplies and distributions of inventory should be maintained. Purchase orders should match GRNS. No inventory should be kept without paperwork. The record of donations and samples should also be maintained. Random and surprise inventory audits should be done periodically so that inventory managers don’t find time to reconcile and present false inventory reports.
Back Up Data Files
There should be an effective backup system for data files. There is no regulation for backing up data and maintaining files since the transaction volume determines it. This backup data is generally stored off-site and used to identify and reconcile fraud.
Other Safeguards and Checkups for Fraud Prevention
Other necessary safeguards used for fraud prevention include:
Hire a team of certified fraud examiners.
Use closed-circuit television cameras.
Restrict employee access to offices, registers, cabinets, and storage areas.
Fraud may lead to a loss that your business may be unable to recover. Still, by adopting a few simple preventative strategies, you can turn your business into a secure organization with minimal risk of fraud.
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.
The success of small to medium-sized enterprises (SMEs) is often viewed as an indicator of overall economic health. Moreover, businesses with less than 250 employees may be more straightforward to manage when compared to multinational companies with thousands of employees—consequently, the matters of scale result in a different mix of challenges. However, businesses face many challenges when implementing human resources (HR) systems and policies in an SME.
The issue prevails because, unlike large organizations, SMEs tend to take HR issues and concerns for granted and ignore them either partially or fully. In fact, they only act when matters peak; thus, the scenario becomes out of their control. Moreover, HR matters are often more complicated than other departments like accounting, which can be scrutinized and corrected through calculations.
Consequently, small to medium-sized enterprises must adopt the best HR practices and procedures to accomplish their company goals and business objectives. You do not need large reserve funds as long as you have the right people putting processes in place at the right time. Here are some of the common HR issues SMEs currently face:
Absence or Lack of HR Department in SMEs
Most small-sized businesses and some medium-sized enterprises have no HR departments because they perceive that having a fully functional HR department is an additional cost. Hence, in the absence of an HR department, workers tend to resolve workplace issues, resulting in chaos and more issues among workers. Therefore, they are often vulnerable to concerns affecting their morale and job motivation.
Managing Talent
Lack of talent management is another big issue for SMEs, which ultimately affects the following HR processes:
Recruitment:
The HR process begins with recruiting the ideal candidate for a position. Remember, the quality of the individuals you hire will eventually determine their success or failure in the long term. SMEs typically recruit through referrals: their relatives, people they know, or individuals related to shareholders. This is okay if merit and qualifications are the basis on which the people are employed. However, SMEs normally prefer relatives and friends, assuming that they are easy to deal with and willing to work for them at a lower rate.
Unfortunately, the downside of this practice is that the hired friends and relatives often lack the requisite skills and expertise, which can cost the company in the long run. Moreover, family-owned small businesses usually have no formal recruitment process, especially ones acquired by succession or inheritance.
Training and Development:
In today’s developed business societies, organizations should acquire an adequate pool of skilled and experienced employees with the current market scenario. Therefore, large companies demonstrate concrete efforts to hire smart and skilled people and upscale their abilities by making them go through various training and development programs.
However, SMEs often tend not to rely on external training and development programs because of budget constraints. Therefore, they conduct on-the-job or in-house training, often producing lower results or providing no training.
Reward and Remuneration & Performance Appraisals:
Reward and remuneration are other essential HR aspects that all organizations, regardless of their size and nature, should effectively use to motivate their employees. They must have a transparent and dependable system for setting salaries for their staff. However, many SMEs either have a vaguely structured reward and remuneration system and performance appraisals or none of them at all.
This is primarily because other structures like a job description, competency framework, and values for the different roles are not well-defined. Moreover, small business owners or managers are busy or are not trained to handle more than average ‘performance.’ In fact, most SMEs are not focused on scale and growth to tackle appraisal processes.
Talent Retention:
Retaining competent employees at the junior level is often a challenge for SMEs. This junior level usually consists of workers with functional skills like electricians, field salespersons, etc. This class is significantly mobile, rarely available in consistent job shifts, and may even quit working without giving prior notice. The unexpected loss of employees affects SMEs, especially during the seasonal days.
Moreover, vague role definitions, lack of career prospects, or any perceived unfairness in the remuneration or appraisal system can trigger thoughts of attrition among workers. HR managers should be aware of employees’ engagement at all levels of the enterprise and their retention drivers.
Maintaining the Spirit of Innovation and Entrepreneurial Culture
Bursting with excitement, aspirations, expectations, and immense potential, SMEs in their early days often promote a business culture that is fun, fast-moving, innovative, and entrepreneurial. Such a culture generally comprises young, energetic team members who show excellent coordination and dedication, work closely with each other, and frequently interact with their seniors and business founders.
However, SMEs tend to lose this spirit as the business grows and matures. Therefore, due to conventional ways of business management, they often fail to grow further. In fact, it becomes a challenge to sustain operations in the competitive market at some point.
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.
Master Effective Household Finances for a Brighter Future
Effective household finances create a systematic approach to managing income, expenses, savings, and investments through strategic budgeting and long-term planning that builds lasting wealth. This comprehensive system transforms reactive spending patterns into proactive wealth-building through disciplined tracking, smart goal-setting, and consistent execution of proven financial strategies.
After working with thousands of small businesses over two decades as the founder of Complete Controller, I’ve witnessed how business financial principles revolutionize household finances. Research shows only 41% of Americans can cover a $1,000 emergency from savings, the lowest since 2021. The families who thrive financially master cash flow management, expense optimization, and strategic savings regardless of income level. I’ll share frameworks that have helped countless families transform their financial futures through the practical application of 5 money management tips and disciplined financial planning.
What are effective household finances, and how do you master them?
Effective household finances combine strategic budgeting, expense management, savings optimization, and wealth-building into one cohesive system
Track all income sources, categorize expenses, and implement the 50/30/20 budgeting framework
Build emergency funds containing 3-6 months of expenses in high-yield savings accounts
Conduct regular financial reviews and goal-setting sessions for family accountability
Create long-term wealth through strategic debt payoff, investment planning, and tax optimization
Psychology Behind Successful Money Management
Understanding behavioral aspects of money management proves crucial for long-term success. Research indicates that households that recognize emotional spending triggers achieve financial goals 40% more often than those who focus solely on numbers. Children as young as five display distinct emotional reactions to money that predict future financial behaviors, with four times more children classifying as “tightwads” than “spendthrifts.”
Successful households reframe financial planning as a freedom tool rather than a restriction. This mindset shift fundamentally changes how families interact with money, building the discipline necessary for lasting financial security. Your family’s unique money personality—shaped by experiences, culture, and beliefs—determines which strategies work best.
Strategic Household Budgeting Frameworks
Creating functional budgets requires strategic frameworks supporting long-term objectives beyond simple income tracking. The 50/30/20 rule provides a foundation, but effective household budgeting demands customization based on family goals, income stability, and life stage. High-cost area families might need 60% for necessities while reducing wants to 20%, maintaining a crucial 20% savings.
Accurate income calculation includes all regular and irregular sources—salaries, bonuses, freelance work, and investment returns. Conservative estimates for variable income prevent overextension during fluctuating months. Within needs categories, break down housing, transportation, food, insurance, and minimum debt payments for granular optimization opportunities.
Implementing zero-based budgeting
Zero-based budgeting assigns every income dollar to specific categories before the month begins, maximizing control over cash flow. This comprehensive approach prevents unconscious spending on non-essentials. While requiring more initial effort, families wanting maximum financial progress often see the best results through intentional allocation decisions.
Monthly planning sessions allocate funds for fixed and variable expenses, short and long-term goals, plus buffers for unexpected costs. Regular monitoring maintains alignment between actual spending and predetermined allocations, providing complete clarity about financial trade-offs.
Expense Optimization and Smart Shopping
Smart expense management optimizes spending aligned with values while eliminating waste. Systematic expense audits, rate negotiations, and inflation-prevention systems often free 10-20% of household income without impacting quality of life. Americans collectively owe a record $1.14 trillion in credit card debt at 24% interest rates, making expense optimization critical.
Housing, transportation, and food represent 65-75% of most budgets, primary optimization targets. Refinancing mortgages, downsizing vehicles, implementing meal planning, and bulk purchasing yield significant results. Beyond major categories, reviewing recurring expenses reveals opportunities through insurance negotiations, subscription eliminations, and utility optimization.
Technology-enhanced budget management
Modern budgeting apps automatically categorize expenses, track savings progress, and alert when spending exceeds limits. Bank automation features, including automatic transfers, bill pay systems, and savings round-ups, make good habits effortless. Japanese families maintaining detailed account books for 50+ years demonstrate how systematic tracking—digital or manual—creates lasting security.
Intelligent shopping habits significantly impact household finances through detailed lists, avoiding impulse purchases, responsible cashback credit management, timing purchases around sales cycles, and price comparisons. Understanding true financing costs and marketing tactics designed for overspending helps families save thousands annually.
Building Emergency Funds and Financial Security
Emergency funds containing 3-6 months of essential expenses provide critical financial security. Personal savings rates averaged 11.7% during the 1960s-1970s, peaking at 17.3% in May 1975, but hit an all-time low of 1.4% by July 2005. Current 4.5% rates make systematic emergency savings more critical than ever.
Treating emergency contributions as non-negotiable monthly expenses rather than optional goals drives success. Automate transfers starting with achievable amounts, gradually increasing as situations improve. Begin with $1,000 goals, build to one month’s expenses, then reach full 3-6 month targets over time.
Case study: Strategic expense reduction
Darren and Emily struggled living paycheck-to-paycheck despite careful spending tracking. Each unexpected expense forced credit card usage at 24% interest. Working with advisors, they identified $100+ monthly savings using meal delivery three days weekly instead of tired evening restaurant visits. Automatic savings transfers build accounts, preventing credit reliance, eventually enabling home purchase goals.
High-yield savings accounts, money market accounts, and short-term certificates balance growth with accessibility needs. Once established, implement advanced strategies maximizing employer 401(k) matches, utilizing tax-advantaged IRAs and HSAs, plus systematic investment strategiesleveraging compound growth.
Final Thoughts
Mastering effective household finances transforms family financial futures through systematic approaches combining psychology, budgeting frameworks, expense optimization, and strategic savings. Success requires understanding your family’s money personality, implementing customized budgeting systems, optimizing expenses without sacrificing priorities, and building multiple savings layers for security and growth.
Start with one area—whether emergency fund building, expense tracking, or debt elimination. Small, consistent actions compound into significant results. Your family deserves financial security and the freedom that comes from mastering these fundamentals. Ready to revolutionize your household finances? Contact the experts at Complete Controller for personalized guidance on implementing these strategies and accessing professional financial management support tailored to your family’s unique needs.
Frequently Asked Questions About Effective Household Finances
What percentage of income should go toward household expenses?
The 50/30/20 rule suggests 50% for needs, including housing, utilities, groceries, and transportation. Adjust based on your area’s cost of living—high-cost regions may require 60% for necessities while maintaining 20% savings rates.
How much emergency fund do I need for my family?
Financial experts recommend 3-6 months of essential expenses in readily accessible accounts. Single-income households or those with variable income should target 6+ months, while dual-income families might start with 3 months.
Should I pay off debt or save for emergencies first?
Build a starter emergency fund of $1,000 while paying minimums on all debts. Then aggressively pay high-interest debt (above 7%) before completing your full emergency fund. This prevents new debt accumulation during unexpected expenses.
What’s the best budgeting method for busy families?
The 50/30/20 method offers simplicity for beginners, while zero-based budgeting provides maximum control. Technology-enhanced systems using apps like Mint or YNAB automate tracking, making budgeting manageable for time-pressed families.
How can I reduce household expenses without sacrificing quality of life?
Focus on optimizing major categories first—refinance mortgages, negotiate insurance rates, implement meal planning. Using strategic couponing and timing purchases around sales cycles saves money while maintaining your lifestyle standards.
CBS News. (January 23, 2025). “Report on Emergency Expenses.” www.cbsnews.com/news/emergency-expenses-report-2025/
USAFacts. (May 30, 2025). “Analysis of Federal Reserve Data on Personal Savings Rates.” www.usafacts.org/savings-rate-analysis
University of Michigan. (January 10, 2018). “Children’s Emotional Reactions to Money.” Craig Smith and Scott Rick. www.umich.edu/research/money-psychology
Complete Controller. “5 Money Management Tips to Help Avoid a Deficit.” www.completecontroller.com/5-money-management-tips-to-help-avoid-a-deficit/
Complete Controller. “7 Benefits of Using Coupons.” www.completecontroller.com/7-benefits-of-using-coupons/
Complete Controller. “How to Manage Your Credit Responsibly.” www.completecontroller.com/how-to-manage-your-credit-responsibly/
One Wild Life Advisors. (April 29, 2025). “Case Study: Darren and Emily’s Financial Journey.” www.onewildlifeadvisors.com/case-studies
International Journal of Home Economics. (September 17, 2024). “Japanese Family Household Account Study.” Nakagawa.
Federal Reserve. (2025). “Consumer Credit Report.” www.federalreserve.gov/releases/g19/current/
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.
Jennifer BrazerFounder/CEO
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.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
Renting a place to stay is sometimes tricky, and real estate agents can make the endeavor easier or more complex, depending on the agent’s quality. Before hiring a real estate agent, you can do things to ensure you get the best possible rental property and contract. Here are five things to consider before hiring a real estate agent.
1- Houses that are without furniture look larger
When a house does not have furniture, it appears bigger than it is. Therefore, always take the house measurements to ensure you get what you are looking for regarding space for your furniture. Buyers often fail to understand how much furniture will fit in the house. Beware of being cheated by spending too much money on something that will not fulfill your requirements.
2- Ask for any technical problems with the house you wish to rent
Technical problems are often cost-effective and may damage your electrical appliances. Before deciding on a place, make sure that you ask for any technical errors in the house and get them fixed before moving in.
Technical issues may increase your utility bill, as they increase the voltage used by the electrical appliances you will put in your house.
3- Maintenance policy
Gated communities have a policy that residents must pay a maintenance fee to either the property owner or the household’s management bodies. To avoid conflicts later, make sure that you contact the affiliated personnel who manage your maintenance fee.
Decide what to do when major repairs are required in the household. You would not have to get involved in unnecessary issues that are time-consuming and cost-effective.
4- Leasing verbal tenancy
Different types of tenancies determine the obligations and rights of the tenant and property owner. They differ from one another depending on the agreement between the tenant and the landlord.
Rentals without a lease are known as monthly-based tenancies, or the tenancies are taken at will. They last until the rent is paid. Every month, these verbal tenancies change.
5- Terminating a tenancy
As many state laws treat verbal rental agreements as renewable short-term leases, each lease is terminated right at the end of the lease period. If the rent is paid monthly, both the tenant and the property owner have the right to terminate the lease with only a month’s notice. Taking this step benefits the landlords, saving them money and time.
Tenants can terminate their leases, for which they have to inform the landlord 30 or 31 days before they plan to leave, i.e., a notice period of one month.
If the property owner wants to terminate the lease in less time than the required notice, he is supposed to follow the eviction procedures that may vary from state to state.
After making sure you have considered all these points with your real estate agent, always consider the laws of the state you reside in. Alongside, make sure that you consider the bookkeepingrecords and include all the financial updates related to that.
Some examples of state laws in different states:
1-Alabama:
Maximum Security Deposit: The amount equal to the rent of a month
The deadline for returning the security deposit is 35 days
2- Kentucky
Maximum Security deposit: No statute
The deadline for returning the security deposit is 30 Days
3- Ohio
Maximum security deposits: No specification
The deadline for returning the security deposit is 30 days after moving out
4- Oklahoma
Maximum Security Deposit: No specification
Deadline for returning the security deposit: 30 days
The amount of money dealt with can be maintained in bookkeeping records for business and tax purposes.
Conclusion
In conclusion, navigating the rental market requires careful consideration, and the choice of a real estate agent can significantly impact the outcome. Before engaging an agent, potential renters should proactively ensure the best possible rental experience. The five considerations highlighted, from assessing space without furniture to understanding maintenance policies and lease terms, are crucial to securing a suitable property.
Moreover, terminating a tenancy demands attention, as state laws and procedures vary. Timely communication and adherence to notice periods are key to a successful termination process.
In addition to these considerations, meticulous bookkeeping is essential. Keeping track of financial transactions, such as security deposits, in compliance with state laws fosters transparency and serves as a valuable record for business and tax purposes. By addressing these aspects with your real estate agent and staying informed about state laws, you can confidently navigate the complexities of renting and safeguard your interests in the rental arrangement.
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.
A strong credit score is important for individuals seeking eligibility for future loans. Achieving and preserving a favorable credit score is a realistic goal, attainable through prudent financial management, responsible credit utilization, and steering clear of common credit mistakes that can adversely impact your score. A seemingly minor error can potentially jeopardize your ability to secure credit in the future.
Maintaining a good credit score requires a strategic approach to personal finances. This involves consistently making timely payments on credit accounts, such as credit cards and loans, and effectively managing outstanding balances. Responsible credit usage entails avoiding maxing out credit cards and keeping credit utilization ratios within reasonable limits.
However, unforeseen circumstances like unemployment or unexpected medical expenses can challenge maintaining a flawless credit record. In such situations, it becomes even more critical to proactively communicate with creditors, explore available financial assistance options, and work towards finding temporary solutions to prevent negative impacts on your credit score.
Acknowledging that credit mistakes often stem from neglect rather than intent is essential. Overlooking payment due dates, disregarding credit limits, or failing to address financial difficulties promptly can result in avoidable credit blunders. Vigilance and a proactive approach are key to mitigating oversights and safeguarding your creditworthiness.
Nurturing a healthy credit score is not an impossible task. You can secure a positive credit history by exercising financial discipline, being mindful of credit obligations, and promptly addressing challenges. This, in turn, enhances your financial standing and ensures your eligibility for future credit opportunities.
Credit Mistakes to Avoid
Not Paying Your Bills on Time
You may have the required amount to pay a bill; however, if you are unaware of the deadline or fail to pay, it could negatively impact your credit score. Even if the bank does not report you to the Internal Revenue Service (IRS) for paying a late fee, it will charge you a hefty penalty which could have been avoided. Late credit card payments can incur high penalties. Therefore, you must pay the amount due on time. To avoid credit mistakes related to late payments, you can use an automated payment process offered by banks, which will pay the minimum balance and give you time to make additional payments.
Prioritizing Payments Incorrectly
Prioritizing your debt payments is essential to keeping a worthy credit score. Most prioritize bigger loan payments like personal loans and mortgages over credit card loans. Defaulting on a bigger loan payment can result in critical financial circumstances when missing a credit card payment would cost you 1% or 2% of the balance. However, this is not a hard and fast rule, and depending on the payment amount, you should prioritize the payments for larger loan amounts. Some credit card payments might be necessary to pay off as they are compounded. Therefore, prioritize payments according to the greatest impact of non-payment.
Not Checking Your Credit Report Regularly
Checking your bills for discrepancies can be tedious, but it must be done regularly. Sometimes, items on your credit report are either charged mistakenly or fraudulently. You will never know if there are errors if you do not check your credit report consistently. You can dispute irregular charges within 60 days, but that is only possible if you know them. However, charges related to fraudulent activities might afford you more time to dispute. Not checking your credit report is one of the worst credit mistakes.
Closing an Old Credit Card Account
You might be tempted to close an old credit card account that has remained unused for quite a while. However, unless you are being charged an annual fee, closing it can affect your credit utilization ratio, an important component in measuring a credit score.
Closing your oldest cards with a history of on-time payments can significantly lower your credit score, ultimately lowering the amount of credit you can acquire. Lenders like to see credit accounts with a long history of on-time payments, so closing the account means it is eventually written off from your credit report. Instead of positively impacting the credit report, it affects it negatively. Even if you are not using an old credit card, keeping it in a drawer and making small, recurring charges so the bank does not close it due to inactivity is better.
Conclusion
Paying bills on time, prioritizing your debt and payments, checking your credit report regularly, and leaving old credit cards with good payment history open are ways to increase and maintain a worthy credit score. Avoid making credit mistakes at all costs to securea healthy financial future.
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.
An accounting system assembles interconnected processes intended to amass, organize, and account for an organization’s transactions. A bookkeeping system aims to engender reports to inform an organization’s decision-making. Managers can make well-informed decisions based on the knowledge gathered from these reports generated through an automated system.
To assimilate a novel and efficient accounting system into your business, follow a simple step-by-step approach. The following steps are a theoretical impression of the implementation process in a standard organization. Factors such as the proficiency of your Information Technology (IT) department, available resources, and ability to adapt to change will influence the design and related implementation stages essential to achieving the go-live plan.
Plan for Implementing an Accounting System
Before you start with anything else, it is imperative to devise a proposal as a project plan and perform a cost-benefit analysis of the whole project. Rest assured, the benefits far outweigh the costs if you are serious about running a professional business. The plan should include:
The timelines.
Key milestones to be achieved.
A list of all required resources for the project.
Planning is the most critical phase of the whole implementation because essential details need to be kept in mind for everything to go smoothly.
Hire a Project Manager
The implementation of an accounting system must be managed carefully. It would help if you designated an individual as a project manager who leads the entire process and forms cross-functional teams. Team members represent all the departments with a vested interest in the system and will be using it in one way or another. Since these departments will eventually be the end-users, it is vital to have their input in the implementation process.
Tidy Records in the Previous Accounting System
Insufficient data is one of the main reasons for obstacles when moving to a new system. If you know, there is imprecision in your books, bad transaction coding, invoicing issues, and other areas that need to be fixed. It would be best if you always prioritized corrections before transitioning systems.
Starting fresh without eliminating old mistakes can result in a huge blunder. Even the best system in the world will not help you if you have issues related to the credibility of your data. The project manager is responsible for designating a special team to remove bad data clusters and repair them for reuse in the new accounting system.
Data Migration and Pilot Testing
A data conversion plan must be devised as most of your old data needs to be transferred to the new system. Mapping the data according to the new format is the priority of a conversion plan. Depending on the format support of the old and new systems, the conversion can vary from relatively simple to complex. Therefore, gathering all the technical details to avoid complications later is essential before you choose a new system.
Once all data is transferred, the accounting system must be pilot-tested to ensure it works perfectly. Apart from being technically sound, you need to acquaint the key people in your company with the new system so that they can efficiently work with it. Arrange a conference room pilot testing for everyone to learn hands-on about the critical features from an expert. You may need to hire someone for the training session or do it yourself.
Configure and Generate Reports
Once everyone is on the same page and your employees understand how to work with the new system, it is time to configure it to their devices and understand all the benefits. The new accounting system will generate better, more detailed financial reports such as balance sheets, income statements, cash flows, and other reports that can assist you in making key decisions for your business.
Conclusion
In conclusion, a well-implemented accounting system is the backbone of informed decision-making. From meticulous planning and data cleansing to seamless migration and insightful reporting, each step ensures the success of integrating an efficient system into your organization. Embrace the transformation for enhanced financial management and strategicbusiness decisions.
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.
When companies are understaffed or putting their accounting to-dos on the back burner, they can make grievous errors when reporting their finances. Overstatement of expenses, revenue miscalculations, and inaccurate debt changes are some of the most prominent errors in companies at year-end. These mistakes can lead to potential financial fallout and damage your reputation by labeling you as disorganized.
The growth of your company is hindered when these miscalculations and errors occur. These errors have significant implications on your general and payroll taxes, leading you to pay costly penalties by the Internal Revenue Service (IRS). Establishing a solid year-end accounting to-do checklist will ensure your business does not face extreme circumstances that can hamper your reputation or burden you financially. Below are some of the guidelines to keep everything in order.
Monitor Internal Operations
The amount of control you have over the internal operations determines if your business can maintain accurate bookkeeping records for the financial year. Look for minute errors. To do this, you must narrowly inspect each currently implemented procedure. Research has shown that businesses lose more than $100,000 annually due to internal errors. Therefore, your accounting to-do list should prioritize the efficiency of internal operations.
Properly File Payroll Taxes
Not properly filing payroll taxes can be a mistake any business can make. The IRS has hard and fast rules when filing taxes related to employee payroll since it is not your money. The IRS considers that you only act as a caretaker for the money until it is paid to the IRS. Likewise, the end of the fiscal year is critical for your employees because they expect increments and promotions. Giving them bonuses and their payroll motivates them, which will ultimately be reflected in their performance.
Collect Receivables
Research shows that 29% of start-ups fail due to a cash crisis. Therefore, your accounting year-end to-do list must focus on collecting all the accounts receivables, which will reflect positively on your balance sheet. You may have to push your clients to pay their remaining invoices as soon as possible so that you can clean up any reconciliation issues. Maintaining control over your company’s cash flow is vital.
Conform with the GAAP
You will build trust with your investors and clients if your books reconcile and everything is clearly documented according to GAAP principles. This is something you must consistently follow all year long. If you have not, consulting with a professional accountant or bookkeeper must be on your accounting to-do list. Doing everything according to the rules will ensure your company stays out of trouble with the IRS.
Plan for Income Tax
Developing your checklist is an important time for you to identify your tax needs and hire a professional so you can minimize your tax payments and maintain compliance. Many small businesses do not consider tax preparations a significant task and pay fines and penalties. Although you inevitably have quite a few things on your plate, filing your tax returns should not be ignored. Keeping your business out of trouble is important to pursue your business goals and objectives successfully.
Budget for the Future
Most small businesses fail because they run out of cash. This happens because they have not planned enough to hire new staff, buy new equipment, or other unexpected expenses. Your year-end accounting to-do list must include your budget for the upcoming year. With assistance from all your stakeholders, compile a budget so your business stays out of trouble and your plans to expand and grow your business can be realized comfortably.
Review
The end of the year is always filled with many tasks that need to be completed urgently. However, this urgency must encourage you to review the previous year’s performance. All successful companies worldwide set measurable benchmarks that can be tracked and reviewed instantly at year-end. Your accounting to-do list must implement specific measures to meet all objectives, allowing you to plan for the upcoming fiscal year.
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.
An Independent Contractor is a person in business who provides services to another person or a company but is not an employee of that business firm. The independent contractor may also be called a freelancer. Independent contractors can be consultants, agents, professionals, or technical staff.
When a business-oriented person or firm provides services to other individuals or companies, this is called a contractor business. It can be a short-term contract between the two parties, or this contractor business can be made on longer terms, growing and long-lasting. The contracting entity is called a contractor.
Benefits of a Contractor Business
Contractor businesses are a necessity, not only in the economy but also in many offices and homes.
Building a contractor business is a great career opportunity. Establishing a formal business unit that will grow your business before obtaining clients is essential. With a firm plan, you can focus on providing services without being hindered and distracted by legal issues.
Strategies for a Long-Lasting Contractor Business
A well-managed system should be in place for managing business operations, bookkeeping, and all business activities. If no effective system is in place, essential tasks can be overlooked. If there is a well-established system, you can focus on growing your contractor business.
Once the business is established, start working on internal assessments. Carry out regular business operations from internal business assessment programs to reaching out to customers and knowing their satisfaction levels about your business. Work on getting a high rating for your business.
Social media websites and tools are an easy way to assess customers’ expectations and demands. Surveys can be conducted to determine your business rating. It is also a great way to market your services.
Take the time to talk to your employees as well as customers. A proper liaison ensures better outcomes in the long run.
Always respond to your customers. Take time to respond, if needed, but respond as much as possible. Responding does not have to mean being on the phone all day. There can be various other ways, such as complaint boxes, email accounts, social media activities, and personal client meetings.
Clients that give a large margin must be dealt with personally to ensure their satisfaction with your services. Treat them well, and they will return for more of your services.
Promote your services with marketing techniques. It does attract more new customers. However, it also attracts and sustains your current customers.
Facebook is an easy and inexpensive way to reach customers by creating a registered Facebook page. Billions of people around the world use Facebook. Using the tools on Facebook can allow your marketing post to reach millions.
Attract more financing. Business financing can be found through personal funding, debts, investors, and other options. As an entrepreneur, you must decide which option is best for you.
New entrepreneurs always need assistance throughout their year-round business operations. Take advice and study their pros and cons. Sometimes, you will need to hire a consultant on matters like bookkeeping.
Hire people who are capable and interested in your contractor business.
Keep a close eye on your business bookkeeping. Your finances must never get out of hand. Expenses must be supervised and rationalized.
Even though you are a contractor business, you should be audit-ready, which means using an up-to-date accounting system.
Outsource the business. Contact other firms to grow your business—for example, contract with another accounting firm for all your accounting and tax filing.
Always know the actual costs of your services and make your profits accordingly. Prices that are too high can make your customers turn away, and prices that are too low will force the business into a loss. The prices must be profit-yielding, but services must meet customer demands.
Conclusion
A contractor business is a great opportunity, not only for the individual entrepreneur but also for the economy. Entrepreneurs and large corporations continually use contractor businesses as their needs expand. Entrepreneurs must be aware of the best business practices to run a growing and long-lasting contractor business. You can adopt strategies to keep growing your contractor business and ensure that it will take you well into the future.
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.
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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. 
