Donald Trump has definitely polarized politics, society and the economy in the United States, and perhaps other parts of the world. And although I do not agree with the things he says on Twitter, the success in his career as a businessman, with or without help, has been better than usual. Here are six of the best quotes from Donald Trump that you can apply in your finances.

Make money doing what you love

In an article called “Why should he quit his job and do what he loves”, Forbes examines the concept of transforming his passions into a way of life. Most people have to pay debts. Many have to prevent the landlord from visiting them. Those who have found a way to live from the activities they would do for free have found the best work-life balance.

The concept is summed up in the advice of Donald Trump: “If you are interested in balancing work and pleasure, stop trying to balance them. Instead, make your work more enjoyable. “

Take an honest inventory of what you like and what you do not like, your strengths and weaknesses, and the passions that motivate you before you decide to quit your job and find a way to make your passions pay for you. Take risks, but let those risks be measured, calculated and realistic.

Have faith in your talents. Many successful people say that their success is due to an internal belief that they are capable of more than what they are currently doing. Finally, if you have the courage to change your career to pursue your passions, you must take into account that you can face failures and setbacks. Be persistent and always think long term.

It promises less and delivers more

When you are negotiating a deal, signing a contract or selling a car, it is good business to avoid promises that you cannot keep. A classic way to accomplish this is to promise less than what you are able to deliver.

Of all the phrases of Donald Trump that talk about this topic, this may be the best: “When I build something for someone, I always add $50 or $60 million to the price. My employees say that it will cost $75 million. I follow that it will cost $125 million, and I build it for $100 million. I basically did a terrible job, but they think I did a good job. “

You probably should not try to be overpaid for a horrible job, but, as Business Insider said, it’s wise to keep hidden surprises in dates of delivery, budgets and deals. Instead, have low expectations and then surpass them.

Be careful with money

 The final result is the company’s net profit (the amount of money you have after deducting all income expenses). For Donald Trump, it’s the only number that matters. “I’ve made difficult decisions, but always paying attention to the final result,” said Trump.

People who are financially irresponsible have many excuses to never take control of their finances. “I have to spend money to keep appearances,” they say, or, “I have too much time to earn that money again,” or “You only live once, I have to spend and have fun now.”

Failure to pay attention to your bottom line is a sure way to end up as one of the millions of Americans (approximately one in three) who has no retirement fund, no 401k, or pension for retirement.

Invest your money

 When you invest your money, you risk losing it. This can scare you, but with the risk you have the chance to win. For the wealthy, it is an irresistible proposal. One of Donald Trump’s best pieces of advice is: “The worst thing you can do is be afraid and let your money stay in your savings account.”

People can invest their money, even modest amounts, in several ways. Stocks, bonds, and real estate are the most common. Start by learning the basics. The federal government made the website investor.gov to help rookies before they started. Do not waste more time before withdrawing money from your savings account to invest in financial markets.

The average savings account offers a return of 0.17%. The historical average of the stock market, on the other hand, is 7%, including the Great Depression and the most recent recession. Be wise with your investments.

Avoid bad investments

 With a single bad investment, you can cancel the profits of a life full of good investments. Or, in the words of Donald Trump, “Sometimes your best investments are the ones you do not make”.

The most common mistake made by novice investors, according to Investopedia, is to buy shares while they go down in price. Buyers throw money into stocks that fall in price thinking that the stock has reached an artificial minimum and that it will soon rise and appreciate. Typically, the stock continues its way down until the investor runs out of money or decides to stop the losses.

Do not chase actions on your way down. Have an exit plan in case the investment does not turn out as expected. Do not put a lot of money in one stock at the same time. Although you should not sell so fast, be sure to stop your losses when the decline in the share price seems irreversible and never buy stocks that you “love” solely for emotional reasons. Follow Donald Trump’s advice and make your best investments the bad ones you avoid.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

As we mentioned in a previous post, saving on the electricity bill is, today, very important. For many small businesses and freelancers, it can be difficult to have enough resources to make a comprehensive renewal of their consumption.

However, not everything is lost and, by following some basic tips, you can get significant savings on your business electric bill. How? Take good note:

 

To save on the electricity bill … it all starts with good habits:

Because the small actions repeated constantly day by day are adding up and, in the end, they revert to us more than positive results:

  • Although it seems obvious, it is vital to avoid turning on lights when it is not necessary or when we are not in the room.
  • It is advisable to completely turn off computer equipment, devices or other equipment and not leave them “at rest” or “stand by”.
  • Make responsible use of cold-heat air conditioning systems, especially if they are electric: wear light clothes in summer and go warm enough in winter so as not to abuse the air conditioning or heat pumps or heaters.
  • In case these air conditioning systems are programmed, you will have to restrict the programming to the “work schedule” and adapt the thermostat to achieve an optimum temperature and in line with the thermal needs of each moment.
  • Keep the insulation of the room in good condition (windows, doors) to avoid losses of cold and heat

Check that everything is turned off or properly programmed before leaving your office or establishment can save on costs (and some other disgust) at the end of the month.

 

 

Continue with an intelligent distribution of space:

Make the most of natural light and reserve the areas near windows or open spaces, to work spaces where the greatest number of people develop their activity. An open distribution of the office allows a better distribution of light, both natural and artificial, as well as the heat/cold of the air conditioning systems.

If you need to narrow the spaces for any organizational reason, make use of translucent screens at medium height. In addition to allowing the passage of light and hot and cold air flows, they give a feeling of spaciousness.

Use light colors on walls and ceilings. Dark colors absorb a lot of light and force more lamps.

 

 

Adapting, optimizing and renewing lighting systems and rates also helps (and a lot):

Although the ideal would be to perform an Energy Audit that would allow us to know the critical points and propose optimization measures, we can also make small improvements within the reach of any SME or autonomous.

Optimize the contracted power: Find out how much power you really need to contract based on the equipment or electrical needs of your business.

Check your consumption to determine if it helps you to save your current rate for one of hourly discrimination, which sets different prices based on the hours of the day the consumption is made.

Lamps: adapting the level of lighting to the recommended one according to the needs of the company and employees, and cleaning the lamps and replacing those in which the flow has been reduced to inadequate conditions, is an almost insignificant task but this does report great results.

Using electronic ballasts saves energy up to 10%, corrects the power factor, as well as increases the life of fluorescent lamps.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

To invest in the stock market, knowledge is needed. Without pretending to substitute a good formation on the subject, today we will see a basic guide of points for it. 

 

  1. First of all, you should be clear about what your investment options are. That is, what alternatives do you have to grow your savings: real estate purchases, gold, savings accounts, other investment options of bonds or letters of the state, etc. Not all options are the same.
  2. The second point is to know what the bag is. The Stock Exchange is a market in which savers and companies that need funds to make their operational investments operate. In general, we distinguish between the primary market (in which shares, bonds, etc. are bought and sold directly). Then these bonds and shares can be bought and sold, not by the companies but by savers and investors, forming the secondary market.
  3. It is also very necessary to specify the amount that you will allocate to investment in the stock market. To control unnecessary risks, what you invest must be a quantity that you will not need in the short term. In general, investments in the stock market are safer if you lengthen them over time. In the long term there are usually returns and in the short term there is much more volatility, which may mean losing the amount invested.
  4. Once you have decided that your investment will be in the stock market, you must know what your strategy is. This is perhaps the most complex point of all, since to choose the strategy you must know many concepts.

 

What is your investment objective?

  • In which product do you want to invest? Are they shares of a Spanish multinational or is it an investment fund?
  • Are you looking for a fixed rate or a variable rate yield?
  • What is the level of risk you want to assume? We will see this point with more attention in the next section.
  • Are you going to diversify the investment, that is, invest in several places?

 

  1. It is important to have control and know the risk that you are willing to assume. As we saw in a previous post, not all times are ideal to invest in the stock market. If the interest rate paid by financial institutions for your savings is low, then it may be a good time to invest in the stock market because there the yield will be higher.

Although this argument seems easy, it really is not like that. You have to take into account the risk you want to take with the investment. On the stock exchange performance is variable, which means that you do not know what performance you are going to obtain. And we do not talk about whether we will get 3% or 12%, but that the performance can be negative, that is, that your investment can lose value.

In addition, if an investment “promises” very high returns, its risk will be high and that can imply high losses. How to balance profitability, risk and opportunity cost of the investment (which would give us that money invested in another option) is something difficult that should not be improvised.

 

  1. In addition, you must understand that, to operate in the Stock Exchange, there are entry, purchase, sale, custody commissions, etc. Not to mention that, if you do not have experience, we recommend that you either train thoroughly, or do it through experts .

 

  1. The stock market is a market. There are many competitors, agents and brokers who are very well trained. You will be able to compete with them if you form thoroughly and are up to date in stock terms.

 

  1. Do not forget how the returns on investments in the Stock Exchange will be taxed. An investment can be more profitable than another, but at the same time, have a worse tax and that the bonus obtained was cancelled by the tax effect.

 

  1. Remember that it is not enough to choose the stock investment. You must follow the investment made, become informed of the results obtained by the company or the evolution of the investment fund. And you must do it systematically over time. With this information over time, you must be able to determine when to maintain the investment, when to sell it or when to expand it.

 

  1. Lastly, a very concentrated last recommendation: prepare yourself in this regard, use savings that you do not need in the short term, be clear about the term of investment, what risk you want to assimilate and always diversify your investment portfolio.

 

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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 we are dedicated to organizing a project we must fulfill many responsibilities: knowing who is doing what, what is being delayed and what is being carried out, organizing communication between the team, etc. Actually, managing a project depends not only on your way of working, but on the technology at your fingertips.

Whether you dedicate yourself fully to carrying out projects or that you occasionally have to do it in your work, these 5 tools will help you to perform a more efficient and better organized work.

 

TRELLO

This tool is one of the easiest to use since the layout in the form of information cards allows all data to be displayed clearly and easily. Sharing and collaborating is simple, but Trello’s best tool is its flexibility. Its simplicity makes it work very well as a task organizer, pending lists, newsletter or almost anything you need and the best part is that its simplest features are free. Trello works from web or mobile devices iOS, Android and Windows 8.

 

FLOW

An application similar to Trello is Flow, which is still very easy to use but incorporates other work tools. The great success of Flow is its control panel that allows users to see everything from the same place. It also has the ability to separate work into different levels with names such as: workspaces, groups, lists, tasks and subtasks. Flow is excellent when it comes to projects that require high levels of collaboration and communication because it allows you to leave comments and set alerts as you would in social networks. Flow has a cost of $10 per user, per month and is available for iOS, Android, Mac and web.

 

ASANA

Asana does not have the design quality of the two previous applications, but it stands out for its task management system. Thanks to its own inbox, your email can be free of messages that relate to the project to be carried out. Asana bases its interface on setting and reaching goals, so it can be a good option for those who like to divide their work into phases. All of its tools are free and available for use on the web, iOS and Android.

 

BASECAMP

Basecamp is probably the oldest application and although it doesn’t have such an innovative design, it has a lot to offer. You can make use of pending lists, setting goals and discussion forums, but where it really stands out is in the management of shared files and the visualization of a work calendar. Its cost is $99 per year and can be used on iOS, Android and web.

 

PODIUM

Podium is probably the most complete tool mentioned here since, apart from allowing you to make use of all the functions that we have already mentioned, it allows you to generate your own applications within the system. This means that you can adjust it to your liking and needs. If you do not want to design your own application, you can make use of hundreds of applications created by other users ranging from budget management to reviewing videos, storyboards or publications for social networks. The best part? Podium is totally free, there are applications within the system that have a cost but usually all are free too. Podium is available for web, iOS, Android and Windows.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Perhaps you have heard friends and family give advice on what is better, if you use a card or cash as a preferred means of payment. In fact, both are a good option, but much depends on your consumption habits, your level of income and financial control you have. That is why the advice that works for some may not be for you.

 

Which is better cash or card?

But to put aside the uncertainty you can rely on these 3 factors and know that it suits you more.

 

  1. Money control

Some people often give the excuse that when they use only cash to pay, the money does not yield to them. Maybe they don’t know what the money has gone towards since they don’t do a thorough search. To tell the truth, it doesn’t matter if you opt for cash or a card to have money control, your financial habits are what determine which one suits you best.

If you intend to record all expenses and know where your money ends, it is indifferent which one you choose. If you are not organized and spend without control, the card helps you know what you have spent, and it is not widely accepted in small establishments, which will be a form of control.

 

  1. Spending capacity

Depending on the type of purchase you want to make, can also help you to choose which instrument to use. If you only want to make small purchases, in addition to having organized finances, you can opt for cash. If you are going to buy a table, bedroom set or TV, the credit card helps to pay very high expenses.

No matter how much you can control your expenses, it is not recommended to carry large amounts of cash, it can easily get lost. Unless you have saved to make a specific purchase. Purchases with your own money, either cash or debit card, will always be recommended above purchases with credit card.

 

  1. Practicality

Worldwide, cash remains the accepted form of payment. However, credit cards offer certain benefits for their use. When you choose to use credit to get these benefits, be honest with yourself about how much you use these benefits in your normal lifestyle. Whether you opt for cash or card, in both cases you should keep track of expenses. When you have bad financial habits, no matter if it is cash, debit or credit card, bad financial habits will last.

The next time you receive advice on which payment method is best for you, remember that many times they are subjective advice, based on the experiences of each person. People often demonize the options that have brought them bad experiences, however they could miss great benefits. Much will depend on your consumption habits and what best suits your lifestyle.

It is your responsibility to make smart spending decisions, your finances are only up to you and you should give them the necessary importance to ensure they are healthy.

 

 

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Numerous studies are related to, but specifically, the impact of creativity and innovation on performance has not been measured empirically. On the other hand, if there were studies related to the impact and relation to innovation and creativity on performance, they were qualitative studies, and if they were quantitative, they were not related to innovation and creativity.


Therefore, the study has measured the impact of innovation and creativity on the performance of SMEs. The study has also analyzed how entrepreneurs can increase innovation in a company to increase its performance.

 

The article aims to determine the association of firm performance with creativity and innovation. Also, the study has analyzed the impact of creativity and innovation on the performance of the SMEs. The study has also included the following specific aims.

  • The understanding of innovation and creativity
  • Importance of innovation and creativity for SMEs
  • Identification of the practices used to bring creativity and innovation in SMEs.

 

The following are the article’s objectives that have been set according to the problem statement of the study and the whole study was focused on the following research objectives.

  • To observe the impact of innovation and creativity on the performance of the SMEs
  • To see the way entrepreneurship affects the SMEs
  • To observe the factors that can contribute to enhancing the value of the organizations through innovation.
  • The following are the questions that have been answered by the study. In other words, the following are the core research questions that have been addressed by the study.
  • What is the impact of Innovation and Creativity on SME?
  • How can entrepreneurship affect the SME?
  • What is the relation between entrepreneurship, innovation, creativity, and SMEs performance?

 

Definition of Variables

There are three core variables of the study including creativity, innovation, and firm performance. Also, the basic definition of the previously mentioned variables is as follows while the performance of the company has been measured in terms of SMEs’ performance.

 

Creativity

Creativity is the name or idea of adding or putting a certain value in product or service that can enhance the customer experience or can give an exciting look to the product or service. In addition, creativity is the result of imagination and thinking differently. Because creativity is the name of making things different from their traditions. However, creativity can be done by just doing something different for an existing product or service.

 

Innovation

The process of updating products, services or systems is known as innovation. Also, it means that when a company continuously improves its offering and services to delight its customers more professionally by adding value in goods and services, it is known as innovation. Furthermore, innovation could increase the market reputation of the company and can lead it to better results, but it is also risky because innovation may fail sometimes.

 

Performance

Performance refers to the results of a company. Moreover, performance has different dimensions and can be measured in different aspects because the performance of the company can either be measured by strategic or financial prospects. Moreover, financial prospects include growth, profitability and market value of the company; on the other hand, strategic performance includes long term market growth, market reputation, and other strategic aspects. Finally, overall performance can be measured by using financial and strategic aspects by keeping them together and comparing the firm’s performance along with its benchmarks. In this study overall performance of SMEs has to be measured.

 

A literature review of this study consist of two different parts including theoretical review and empirical review. Also, the literature review showed the current knowledge and work of scholars done on innovation, creativity and SMEs’ performance. Moreover, in the literature review, the work that was done regarding the variables above by other scholars have been summarized, and several research papers were reviewed to find the academic significance of the topic. Furthermore, in the theoretical review section, all theories and frameworks regarding innovation, creativity, and firm performance. On the other hand, in the empirical review section, empirical studies have been summarized to conclude the findings of empirical studies related to the topic.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

Surely you’ve read a lot about it. That before you have looked for options and solutions, to reduce your spending and save costs in your business. I humbly warn you: here you will not find only tips to save being autonomous. In this article I give you a methodology of business management, a way to understand the management of your activity on a day-to-day basis. A guide to meet to reduce self-employed expenses.

You know the importance of reducing your expenses to the maximum to obtain greater profitability. I do not discover anything new. But I do want to show you the different formulas you have on hand to control spending, and reduce it, paying attention to certain routines.

You must evaluate if these options are implementable in your activity so that it is more efficient contributing a greater benefit.

 

Do not forget any of the autonomous deductible expenses

This is basic for anyone who has a business. There are many expenses that you can deduct. What does “deduct” mean? Well, they are investments that reduce the net return of your activity, causing you to pay less taxes.

Remember that in order for an expense to be admitted as a deductible, it must meet certain requirements:

  1. Being linked to the economic activity carried out by the self-employed, or as the Treasury says, who are “affected” by it.
  2. Be conveniently justified by the corresponding invoices. Be registered by the self-employed person in their corresponding expense and investment books.
  3. We talk about the expenses of salaries, social security fees, certain taxes, exploitation costs, services of independent professionals…
  4. But beyond, there are also the vehicle, gasoline, clothing, mobile phone, diet … And if you work from home, you can deduct the expenses of supplies in proportion to the space allocated (and declared) to your business.

You cannot pass up the expenses that are deductible without an invoice. Another list that you should keep in mind among those that are: bank charges, expenses derived from commercial contracts … From the links to the articles linked in superior lines take a list with all of them and keep it in mind.

 

Attention to your own bonuses

You must check if you are among any of the beneficiary groups of bonuses and discounts on Social Security contributions.

They are applicable to certain groups of self-employed workers. And we do not just talk about the famous flat rate for those who start with the activity, or those who have two years without being registered as a self-employed worker.

Also of the extension that young people under 35 have if they are women, and 30 if they are men, of the same measure for another year. Of the exemption of payment of the quota during periods of maternity and paternity leave. 

They are just some examples, we tell you all in this article. Do not forget to check if you are in one of the benefited groups.

 

If you are going to hire do it to people “bonus”

A few days ago, we launched a post talking about how difficult it is for certain sectors (by race, sex, age or family situation) to find a job even having the aptitudes for a certain position. Above, you should see an opportunity in certain sectors of society since their hiring is rewarded:

 

  1. a) Relatives: under the figure of self – employed collaborator you can hire a family member up to the second degree of consanguinity. You will be rewarded 100% of the fee if the contract is indefinite.
  2. b) Under 30 years: if you hire a child under 30 enrolled as a job seeker with a contract to promote entrepreneurs you will receive 1,000 euros in the first year, 1,100 in the second and 1,200 euros in the third.
  3. c) Greater than 45 years : if you hire indefinitely a person older than 45 years in a young entrepreneurship project, you will receive 1,300 euros per year for 3 years, which will be transformed into 1,500 € if you hire a woman in certain sectors.

 

These are just some examples, but if you access this link we have a detailed article on the subject where all the bonuses are specified according to the type of contract.


Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.
Internal Revenue Service sign with a traffic signal in the foreground indicating a red light.

What is an accounting scam?

An accounting scam is a scam made by someone who pretends to be an “accounting expert” by taking advantage of the lack of knowledge of the taxpayer. In this way he manages to make collections and generate amounts that are not really what he should be paying. Likewise, omissions or tax failures can also be incurred and this could be very harmful for any of us.

 

How to avoid it?

The advice given below will help you avoid being a victim of this situation and will give you the peace of mind that your accounting is done correctly.

 

  1. Search for a trusted person

Each company has different requirements and when it comes to hiring an accountant, he must give you the confidence of knowing that he will handle all your numbers correctly. Ask concise questions and ask for references that can attest to your good work. If you have an SME, look for an independent accountant through your acquaintances or relatives, and also ask for references when interviewing. Remember to make a contract with this person where both agree what their responsibilities will be and where everything related to their employment relationship is established.

 

  1. Save your acknowledgements

There are many accountants who do not deliver the acknowledgments to their customers and protect them for them to keep a better control of their accounting, do not allow it. Ask your accountant to give you the acknowledgment of receipt of your statements and if you need it, take a photocopy for your records. Thanks to the digitalization of the SAT files, it is now possible to make online inquiries about your tax situation, if you have any doubts, enter this link   to verify the statements that have been made. Compare the SAT data with the information provided by your accountant and make sure everything corresponds correctly.

 

  1. Never deliver your FAITHFUL

Your Advanced Electronic Signature (FAITHFUL) is just that, your signature. Many accountants ask their clients for their FAITHFUL so that they can carry out various procedures on their behalf, but in doing so the taxpayers are exposed to the misuse of it. For this reason, we recommend not giving your FAITH to anyone and when necessary its use you meet with your accountant to perform the necessary procedures.

 

  1. Safeguard your electronic invoices issued and received

By law the SAT asks taxpayers to keep their invoices issued and received for a minimum of 5 years. During this time, it is YOUR responsibility to take care of this, since if you depend on your accountant to do so, you could risk mistakes or fraud.

 

  1. Pay attention to the messages you receive from the IRS

The IRS periodically informs you about your tax situation through your email, and also notifies you when a statement has been made or the lack thereof. This is a very good way to monitor the activity of your accountant and to check the amounts and procedures that are performed. You can forward these emails to your accountant if required, but always remember to check them carefully to avoid any problems.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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 country is constantly going through ups and downs. Although much is said in crisis, there are opportunities in several segments, and real estate is one of them. With the downturn in the economy, after years of growth, what happens is a huge availability of real estate: that is, for those who have been scheduling to buy real estate, whether new or used real estate, the time is now.

Choosing forms of payment that are consistent with the family budget to reach the purchase of that good – which represents stability and security – is one of the important aspects around the subject. This, and many other points that will need to be decided by those who decide to take advantage of the time to buy new property are addressed here in this post.

Keep up the good work and know the top 5 steps to buy your new property!

 

 

  1. Define how much you will spend

For those who are going to buy property in installments, a detailed analysis of the budget and the family income is essential. Taking into account all costs related to housing, when assuming installments of a property, is to ensure financial health to the business. Important to keep in mind also, when thinking about financing a property, that the maximum possible to commit to their installments is 30% of income.

Regardless of whether your purchase will be in cash or installment, it is important to do accounts. When you buy a property, in addition to the cost of the property itself, fees and taxes levied on the transaction. So having these costs clear, and counting them, will allow you to have the exact notion of how much you will use when buying property.

 

 

  1. Choose the best one for you

Buying new property will allow you to make an advantageous acquisition under several aspects, one of them being the first resident, and receiving a brand new property. Buying new real estate is also ideal if you want to pay off most of the value, since there are lines of credit specially created for this type of acquisition.

Buying property in the plant is an excellent choice for those who are not in a hurry to move. For those who have time to wait for the delivery of a property, buying it at this stage of the venture will allow you to enjoy better prices than the real estate ready. The builders, even, offer possibilities of customization of the apartment or house, when bought in the plant. That is, you, in addition to better prices, may still have a property in your own way.

 

 

 

  1. Decide on the most appropriate form of payment

In cash

If you’ve been making a financial reserve for some time, thinking of buying real estate, great! This is a form of payment full of advantages:

  1. Greater bargaining power
  2. No impairment of monthly income with installments
  3. Possibility to take advantage of cash payment offers

 

 

 

Real estate consortium

Who wants to enjoy the advantages of pay cash you will find in the real estate consortium the right way to make your purchase. The consortium is an established way of buying in a planned way. By joining it, you will have the value of the desired property – total or entry – divided into monthly installments, and will purchase your apartment or house by means of a letter of credit.

Every month, those who have a real estate consortium have a chance to be contemplated, as the lottery draws happen in assemblies with this periodicity. After contemplation, the consumer will undergo credit analysis and may buy his new or used property, and also invest in the purchase of land, construction or renovation.

 

  1. Look for the ideal property

Buying property requires a good deal of certainty about what you really want for yourself and your family. Because it is a heavy purchase in most people’s lives, it is necessary to do so with the utmost certainty of what is wanted from the present moment and about the future yearnings.

 

 

  1. Find the Right Place

When it comes to living well, it is not enough to have the perfect property: it needs to be in the right place, and in line with your lifestyle. Therefore, to close the deal, check carefully if the property you are looking for is in a place that can meet your housing expectations.

If, for you, having schools nearby is crucial, before closing a deal, be sure to check out nearby education options. In order to avoid relying on the car all the time, having trades around the selected property is essential: bakeries, supermarkets, grocery stores, drugstores and free-trade fairs, when easily accessible, are amenities to consider.

 

 

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.

This topic has given a lot to think, all at some time in our lives we come to a time when we must think about what we want and what we can do to be financially free, comfortable and safe.

But what is financial freedom, and how is it related to our life plan? As an entrepreneur it is one more aspect that you should consider, since having a lot of money gives you wealth, which is measured with a greater number of zeros in our account. Economic freedom is achieved when our income is greater than our expenses.

It is common that we confuse the true meaning of financial freedom, continue reading and find out everything you need to know about the subject.

 

 

What is financial freedom?

It is understood as the ability to live free from worries in the monetary or money sense, some simply define it as the time you could live if you stop working.

For this reason, experts consider that it is directly related to the economic well-being we achieve.

In more clear words, we obtain financial freedom when we can cover our economic needs without having to do some kind of activity, so financial freedom is measured according to the free time we have, but not in the amount of our income. If we are able to cover our needs with more free time, we understand that we have broad financial freedom.

 

 

 

Steps to be financially free

1- Life plan

It relates a detailed analysis of how you want your life to be, when it is clear to you that you want to make the fight easier to do.

Simplify and facilitate your life, focus on what matters most to you, with this you not only avoid wasting money, but you focus on your goals and objectives.

On the other hand, you must be very positive and always think that you are able to achieve what you propose, and then strive to achieve your dreams; turn them into goals. Cancel the limitations related to success and money.

 

2- Save

It is an important element, because it will serve you in the different steps you are taking to get closer to financial freedom. Control your expenses, it is important since this control partly depends on the savings, the more money you spend to live, the harder it is for you to reach financial freedom.

Avoid indebtedness, debts are the opposite of saving and financial freedom. In the case that you acquire debts, try to be as low as possible, that you can pay easily and as soon as possible.

 

 

 

3- Search to perfect yourself

Extend your income, never achieve financial freedom while you depend on a job, always try to do your job well, so that your income increases by bonuses or get a better position, but do not forget that it is to achieve higher income without spending more time. Avoid getting stuck in a job.

 

 

4- Avoid being dazzled

Maintain your standard of living, although your income increases, it is very common for people to make the mistake of increasing their standard of living in the proportion that their income has increased. Usually people as they progress in their career and are earning more money, they are increasing their standard of living, but sometimes even the increase is excessive and end up in debt.

Invest your money with conscience, your money needs to multiply and if you do not invest as a result of inflation, each year your money will be worth less.

 

 

 

5- Generate passive income

Passive income is what you get consistently after having made your initial investment, without doing anything else.

For this you must have assets, and then you can live on the fruits of those assets, for example, buy a real or personal property to be rented, participate as a partner contributing capital to a company and you will have rights to a proportion of the benefits, create or invent something that will generate royalties for copyright, among others.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. 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.