Category: Content

Welcome to “The Ultimate Guide to Navigating Auto Insurance: Unlocking the Secrets to Safeguard Your Ride on the Road.” If you’re a new driver or an experienced one, understanding auto insurance is essential. From coverage types to key terms to common myths to insider tips that will help you save time and money, this comprehensive guide will tell you everything you need to know about auto insurance.

Navigating the auto insurance world can be overwhelming, with countless policies and providers to choose from. That’s where this guide comes in. We’ll break down the complex jargon, demystify the coverage options, and equip you with the knowledge you need to make informed decisions about your auto insurance.

Whether you’re looking to purchase a new policy or seeking to understand your current coverage better, “The Ultimate Guide to Navigating Auto Insurance” has got you covered. So, fasten your seatbelt, and let’s dive into the fascinating world of auto insurance together!

Understanding Auto Insurance

Understanding auto insurance is the cornerstone of our journey. Auto insurance is a contract between you, the policyholder, and the insurance company. In exchange for a premium, the insurance company agrees to pay for specific car-related financial losses you may encounter during the agreement term. This contract is pivotal in safeguarding your finances in case of any mishaps on the road.

Getting auto insurance isn’t just a wise financial decision; it’s also a law in most states. Driving without insurance can result in hefty fines, license suspension, and even jail time, so you’ve got to know the basics of auto insurance to protect you legally and financially.

Auto Insurance is a game of risk. Premiums are paid to the insurance company, which then accepts financial losses in the event of an accident. Your premium depends on how much risk you’re willing to take. Lower your premium if you’re perceived as lower risk, and vice versa.

Types of Auto Insurance Coverage

The next step in our journey is getting car insurance explained and understanding the different types of auto insurance coverage. These include liability coverage, collision coverage, comprehensive coverage, personal injury protection (PIP), and uninsured/underinsured motorist protection (UM/UIM).
The most basic form of auto insurance is liability insurance. Collision coverage covers damage to your car if you cause other people’s property damage or cause bodily injury as a result of a collision with another vehicle or object. Comprehensive coverage covers damage to your car from things other than collisions, like theft, fire, and natural disasters.

Personal Injury Protection (PIP) covers medical expenses for you and your passengers, regardless of who’s at fault in an accident. Uninsured/Underinsured Motorist Protection (UM/UIM) kicks in when you’re involved in an accident with a driver who doesn’t have insurance or doesn’t have enough to cover your expenses.

Factors That Affect Auto Insurance Rates

Auto insurance rates are not one-size-fits-all. They vary greatly depending on various factors. Some of these factors include your age, driving record, location, vehicle make and model, credit score, and the amount and type of coverage you choose.

Your age plays a significant role in your auto insurance rates. Younger drivers, particularly those under 25, are statistically more likely to be involved in accidents, resulting in higher premiums. Similarly, your driving record is a clear indicator of how much of a risk you pose to the insurance company. Drivers with a history of accidents or traffic violations tend to pay more for insurance.

The location also matters. If you live in an area with lots of traffic, you’re more likely to get into an accident, so your insurance premiums go up. Also, some models are more expensive to insure because they’re more prone to theft, cost more to repair, or don’t perform well in tests. Also, if you have a low credit score, insurers think you’re more likely to claim, so your insurance rates will be higher.

How to Choose the Right Auto Insurance Policy

Choosing the right auto insurance policy is a critical decision that requires careful consideration. You need to balance affordability with adequate coverage. Start by determining your coverage needs. Consider the minimum coverage requirements in your state, your budget, and the value of your vehicle.

Once you know your coverage needs, shop around. Get quotes from multiple insurance providers and compare them. Look beyond just the price. Consider factors like the company’s reputation, customer service, and claim handling process. Also, read the policy documents carefully. Understand what is covered and what’s not. Look for any exclusions or limitations.

Lastly, always ask questions. If there’s something you don’t understand, ask the insurer to clarify. An informed decision is always a better decision. Remember, the cheapest policy is not always the best. It’s about finding the right balance between cost and coverage.

Tips for Saving Money on Auto Insurance

Car insurance can come with a price tag, but there are strategies to reduce your premiums. Firstly, think about consolidating your insurance policies. If you have types of insurance such as home and auto coverage, bundling them under one provider could lead to significant savings.

Maintaining a spotless driving record can also result in premiums. The fewer accidents and traffic infractions you have, the lower your perceived risk level will be, potentially reducing your premiums. Increasing your deductible – the amount you must pay upfront before insurance coverage kicks in – can also help decrease your premium rates. However, make sure you can afford the deductible in case of an accident.

Lastly, make sure to take advantage of any discounts.

Insurance companies commonly provide a variety of discounts, such as those for drivers, good students, and vehicles equipped with safety features. Remember to inquire with your insurer about the discounts.

Common Auto Insurance Mistakes to Avoid

When dealing with auto insurance, it’s easy to slip up. One mistake that people often make is opting for the minimum required coverage. While this choice might seem cost-effective initially, it could leave you underinsured in the event of an accident. It’s advisable to opt for coverage that shields you against all potential risks.

Another error is failing to shop around before settling on a policy. If you accept the first quote you receive, take the time to compare various policies and their rates. Additionally, don’t let your policy renew automatically without reviewing it. Your circumstances may have changed since the renewal; therefore, it’s essential to reassess your policy each time to ensure its continued suitability.

Lastly, don’t overlook the importance of reading and understanding the details in your policy documents. Be clear on what’s covered and not included in your policy. Avoid assuming that certain incidents or damages are automatically covered. If unsure, seek clarification from your insurance representative.

Steps to Take After a Car Accident

Being aware of what steps to take after a car accident can help streamline the insurance claim process.

Firstly, make sure everyone is safe and call 911 if needed. After that, gather all the information, such as the details of the other driver’s statements from witnesses, and take photos of the scene and any damage.

Contact your insurance company promptly. Share all the collected information with them. Cooperate throughout the claim process. If the other driver is liable, their insurance should cover your losses. In case they are uninsured or underinsured, your UM/UIM coverage will come into play to cover the costs.

Finally, seeking counsel if the accident is serious is advisable, particularly if significant injuries or damage are involved. A legal representative can assist you in navigating through any complexities and ensure you receive fair compensation.

How to File an Auto Insurance Claim

Filing an auto insurance claim might seem overwhelming at first. It’s a simple process that you can take once you know what steps to take. Begin by informing your insurance provider about the accident. Provide them with all details, including accident specifics, information about parties involved, and any evidence you have gathered.

Your insurer will then assign a claims adjuster to handle your case. The insurance adjuster will carefully examine the accident details, evaluate the damage, and determine the appropriate compensation amount from the insurance company. Cooperating with the adjuster and providing any information they may require is important.

After the adjuster assesses your claim, you will receive a settlement offer from the insurance company. This offer represents the sum they’re prepared to pay for your claim. Take time to review this offer thoroughly. If you agree with the proposed amount, you can accept it. The insurer will proceed with payment. If you disagree, you have the option to negotiate with them or seek assistance from a professional.

Auto Insurance Discounts and Rewards

Many insurers provide discounts and incentives as a way to attract and retain customers while reducing premiums. These benefits can have an impact on your overall costs. Common discounts include policy discounts, safe driver rewards, and discounts on vehicle safety features.

Multi-policy discounts are available when you purchase different types of insurance policies from one provider. Safe driver rewards are typically offered to individuals with driving records free of accidents or traffic violations over a specific period. Discounts for safety features are granted to vehicles equipped with safety technologies such as anti-lock brakes, airbags, or anti-theft systems.

Furthermore, certain companies provide loyalty perks to customers who have been with them for a time. These perks might involve reduced premiums, increased discounts, or even cashback offers. It’s always an idea to keep an eye out for such benefits, and feel free to inquire about them from your insurer.

Conclusion: Importance of Having the Right Auto Insurance Coverage

In conclusion, having the right auto insurance coverage is essential for every driver. It protects you financially, gives you peace of mind, and is a legal requirement in most states. Understanding auto insurance, choosing the right policy, and saving money on premiums can make a huge difference in your overall driving experience.

Remember, auto insurance is not just about complying with the law; it’s about protecting yourself and your loved ones. So, make sure you have adequate coverage that suits your needs and gives you the protection you need. Happy driving!

FAQ

Q: What is auto insurance, and why is it important?

Auto insurance is a contract between the policyholder and the insurance company, safeguarding against car-related financial losses. It’s crucial for legal compliance and financial protection in case of mishaps on the road.

Q: What are the different types of auto insurance coverage?

• Liability coverage pays for damage caused to others’ property or bodily injury.

• Collision coverage pays for damage to your vehicle from a collision.

• Comprehensive coverage covers non-collision-related damage like theft or natural disasters.

• Personal Injury Protection (PIP) covers medical expenses.

• Uninsured/Underinsured Motorist Protection (UM/UIM) kicks in when the other driver is uninsured or underinsured.

Q: What factors affect auto insurance rates?

Auto insurance rates are influenced by age, driving record, location, vehicle make/model, credit score, and coverage type. Younger drivers, poor driving records, high-traffic areas, and certain vehicle models tend to have higher premiums.

Q: How can one save money on auto insurance?

• Consider bundling insurance policies for discounts.

• Maintain a clean driving record to lower risk levels.

• Increase your deductible to lower premiums.

Take advantage of available discounts such as safe driver or safety feature discounts. 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 person’s resume is the first thing a recruitment agent will consider in determining whether they should invite that candidate over for an interview or not. This document will be a person’s first and occasionally the only chance to influence their potential future boss that they are perfect for the position.

When applying for a job, a person also needs to understand that most recruitment agents will only dedicate a few minutes, or even just a few seconds, while browsing through a resume. As such, a person needs to make a catchy resume that will be straightforward and well maintained to cut ahead of the rest and catch the recruiter’s attention who is examining it. Below are a few useful tips that will help a person in building a solid resume?

Get to know the company and the job position

The first step a person needs to follow is to know the company they want to work for and the position they want to apply for. This way, a person will easily decide precisely what a possible employer wants from their applicants. It will also provide a clearer understanding of the corporation’s model applicant’s qualifications and characteristics.

Are they seeking someone who has general experience in the relevant field? Are they looking for someone with a strong grasp regarding the theories that are used during trading? Are they looking for someone who can be a team player or an individual worker, maybe a mixture of both? Only after receiving the answers to these questions, a person will be able to build a resume that is based on the strengths and credentials that will fit the criteria.

Start writing the resume that will get you the interview

Once a person has done their research regarding the corporation and the job position they want to apply for, now it’s time to handle the serious business of writing a rock-solid resume. If a person is having a hard time knowing where to start? Well, the first thing a person needs to decide they should include in their resume.

A typical resume contains a candidate’s private contact info, work experiences, and history, educational credentials, along with a list of references. While writing a resume, especially the part containing previous work experiences and educational credentials, always remember highlighting and emphasizing the factors that will make a person more suitable for that specific position. Avoid being uncertain. If a person thinks they possess the qualities and skills that a company is looking for, do not hesitate to emphasize them because the other candidates will not hesitate to highlight their abilities.

Proofread, proofread, and proofread!

After writing a resume, now it’s time to recheck. Proofreading a document has its benefits as it can enhance authenticity by eliminating all errors. Regardless of how careful a person was while writing their resume, there will always be some mistakes, and there is no such thing as a “small mistake” when it comes to applying for a new job. Even small and childish errors can easily hinder a person’s chance of success. Therefore, it is better to proofread a resume twice before moving forward properly. Looking at a printed copy of a resume will help a person spot the errors more quickly. It is also a great idea to ask a friend or family member to proofread the document as a second opinion. Ensure that the resume is completely free from errors in all phases of formatting, spellings, and grammar.

Conclusion

Your resume should make you stand out from the rest through keywords and highlighted skills. The main focus is for the hiring agent reading it to know quickly that you are qualified for the job. When writing your resume, always keep in mind that this will be your first impression on a potential employer, so it needs to be well written and concise.

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-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 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.

Accounting in a small business can be a challenge. Most of the time, small business owners wear many hats in the company, and when it comes to keeping the books, mistakes can be made, and data can fall through the cracks. Though there is lots of great bookkeeping software out there, at some point, most small business owners will realize they need to hire a bookkeeper. Before you hire a bookkeeper, there are a few things you need to consider.

Do I Need a Full-Time Bookkeeper?

Most small businesses will not need to employ a full-time bookkeeper, but some will be the exception if the daily inputs are extensive. If you do need a full-time bookkeeper, you will need to go through the recruiting and hiring process. You will want to find a certified bookkeeper with experience in small business and preferably with experience specific to your type of business.

If you don’t need a full-time bookkeeper, you may want to consider hiring a freelancer or a firm that will send a bookkeeper however often you and they agree you need one. It is important that you determine your needs to understand what you need when it comes to a bookkeeper.

What is My Budget for a Bookkeeper?

Because most small businesses are low on capital, especially in the first few years, it is important to determine how much you can afford for a bookkeeper. This determination will help you figure out if you can afford a full-time bookkeeper or other bookkeeping options.

If you are on a lower budget, most freelancers tend to be a little less expensive, but you are on their schedule more or less. The flexibility can make it easier for you both when it comes to availability. If you can afford a full-time bookkeeper, while it will be the most expensive option, having the books handled daily will ensure no errors or discrepancies and make a difference when filing taxes or getting financing.

If you can afford something a little more middle of the road, hiring a firm that would do your books regularly might be right for you. They are more on the expensive side from hiring a freelance bookkeeper, but they have a staff of bookkeepers, so you would have them when you needed them without having to hire a full-time employee.

Have I Fully Considered Bookkeeping Software?

Accounting and bookkeeping software has come a long way, and there are multiple great and affordable choices that have all the features you need and have been made user friendly. You don’t have to be a certified bookkeeper to learn how to use the software, and as long as you are good about inputting data, it will be accurate and reliable.

When choosing software, however, you need to consider what your needs are. If you need basic bookkeeping, there is free software that can do the job. However, if you need to cover inventory and payroll in your software, you will need to choose more robust features.

The other thing to consider is whether you want to use cloud-based bookkeeping software, which gives you the flexibility to access your company’s books from anywhere. It also will give you the ability to share it more easily should you do a combination of using software and hiring a professional.

Conclusion

Every business needs a bookkeeping system. As the business owner, it is up to you to determine how to fulfill the needs when it comes to bookkeeping. You have to determine the budget, time, convenience, and other bookkeeping needs before you proceed with hiring a bookkeeper or implementing bookkeeping software.

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-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 certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

How to embrace the cloud into bite-sized portions from Jennifer Brazer, founder and CEO of a completely cloud-based company based in the US.

I have created a company that is 100% in the cloud and I want to share with everyone my thoughts on how to embrace this type of company. I have gathered some great points about embracing the cloud, take a look at what I’ve come up with.

Connecting Staff 

Making sure your staff are able to continue producing the work/product you need to deliver to your customers is of primary importance. Everything else comes second to that. But how do you monitor, train, mentor, and incentivize staff that you cannot see from day to day? Here’s how we bridge that gap:

Remote Desktop Services 

Coupled with a VPN, any good system administrator can create a permission-based environment for staff to log in to a remote server or cloud VM (virtual machine). If your work is stored on a local server, this might be the time to consider migrating to a cloud service or managed service. Be careful to use the appropriate protections to protect the sensitive data stored on your new system.

Work Tracking Software 

Installing a work tracker on your system allows you to see when your staff members log in to work, how long they work, what tasks are performed, and whether they are using their work time efficiently. I always suggest a business model wherein staff members are paid for time worked and incentivized with bonuses for completing more work better. Avoiding the 9 to 5 construct provides staff with more freedom to work as needed and save the employer labor costs as staff work only when there is work to do.

Timesheet 

A timesheet can be much more than a place for staff members to record their time and billable tasks. I recommend you develop the timecard to include hourly wage information and any bonus qualifiers that are part of your incentive program. If you are giving staff members a profit share bonus for completing their work efficiently, provide a field on the timesheet that calculates that bonus. If you are providing a bonus for completing certain milestones, such as a new client onboarding, be sure to make room for that on the timesheet. If you make it easy for staff to track their earnings as they complete their work, it provides them with a greater sense of control and makes them more likely to strive to reach the goals you have set for their role.

Scope of Work 

This is the hardest part. It involves training your staff about the work that needs to be done, the methodologies you want them to use, and the deadlines they must meet. If you put your expectations in a written document by role, that is best. It provides a framework for the processes the staff member will be completing and a place to look at if they ever need clarity. It also makes staff expansion easier, adding new people quickly because training is a breeze.

Connecting Customers 

Now that your staff is up and running, how do you get your clients on board? They may not have as many opportunities to interact with you digitally, but when they do, you want it to be seamless and impressive so that the experience will build trust. A clunky and difficult experience may leave them feeling insecure.

 

Alone or in combination, these tools and strategies will position your business as savvy and supportive as you bridge the technology gap.  

I hope you find it useful. 

Jennifer Brazer,

Author | CEO | Empowerment Nerd

Freelancing, as a full-time business, is becoming more and more popular. Generally, freelancers take a skill or multiple skills they used in the business world and converted into their own freelance business. For many reasons becoming a freelancer is appealing.

• Being your own boss
• Flexibility in your schedule
• No limit to income
• Only taking work you want to

The most popular freelance jobs are writing, graphic design, and consulting. While all three are very different from one is another, there are some common aspects of freelancing that will be the same no matter what kind of freelance business you operate. Here are eight tools that every freelancer should have.

Wunderlist

Staying organized is essential for every freelancer’s success. Wunderlist is a simple and intuitive task list application that can be viewed on the desktop or mobile device app. Tasks can be organized by project and client and then broken down into smaller tasks required to complete each item. Other features include the ability to add notes and files to each task, set deadlines, and create reminders with automatic data synchronization on all your devices.

Trello

Trello is a project management tool that allows you to keep track of ideas, to-do lists, events, and completed tasks using a virtual whiteboard. Each element is configured as a map that can be dragged and dropped into categories making it easier to organize projects and your entire business. To make an account is free, and you can start using it immediately upon creating your account.

My Minutes

My Minutes is a productivity app that is only available for Apple users. This helps you set and reach productivity goals by using the “at least” and “at most” system. For example, you could set it to “spend at least two hours on client A’s project” or if you could set it to “spend no more than one hour on answering emails.” This application is meant to keep you on task and productive.

RescueTime

RescueTime is an app running in the background and recording all of your usage and time spent online and other apps. The point of this app is to help you see where your time is being spent on time management. It is also a great way to track how many hours you work if you bill clients by the hour. This application can be a real eye-opener as far as where and how you are spending your time.

Self-control (App)

Self-Control was designed for those who are easily distracted. This open-sourced distraction app lets people block their access to specific sites even if they remove the act or restart the computer. It will only block during a certain timeframe set by you. You create a blacklist of distracting websites such as Facebook or Twitter, or even your email. Once you click start until the time is up, you will be restricted from access to whatever sites are on the blacklist. The point of Self-Control is to keep you from distraction by restricting your access during certain times.

FreshBooks

FreshBooks is cloud-based accounting software for non-accountants. Not only does it track billable hours, but it also integrates them with an easy online billing system that automatically calculates totals and taxes to generate invoices quickly. FreshBooks also offers hassle-free spending tracking that automatically imports and classifies bank account and credit card expenses and records expenses simply by taking a snapshot of revenue. Its financial reporting tools include expense reports, quarterly analyzes, profit and loss, payments collected, tax summaries, and more.

QuickBooks

Quickbooks is an accounting and bookkeeping software that is perhaps the most used accounting and bookkeeping software on the market. This highly-rated software integrates more than 150 third-party applications and features time tracking and payroll services. Quickbooks has dozens of other features and now offers an online cloud-based version.

Conclusion

Whether you use one or all of these applications, you must use every tool available to you as a freelancer. These tools help you manage time, business organization, and accounting and bookkeeping. These areas are critical, especially to the freelancer who must operate their business on their own. 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-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 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 food industry is thriving and flourishing. People have started investing in food businesses because they are less likely to fail in the current market. Everybody likes to eat, but not everybody loves to cook. This is where the food industry comes into play. Homemade food or restaurants, people like eating delicious food. Here are eleven tips to follow to help you start a food business.

1. Research: The food business is more competitive than any other business, so it is imperative and smart to do some research before starting a food business. Before starting a food business, try to find out what is trending, what new trends can be worked upon, and what you can do differently than others. Do some online market research to measure market needs and what people look for in terms of food quality, taste, and affordability. Try taking notes from a food business that failed; try to find out what went wrong in it and refrain from making a similar mistake.
2. Marketing: Marketing begins as soon as the business starts or sometimes before even that. Marketing attracts a large number of clients and makes a product talk of the town. Marketing has many ways. It is done online as well as offline. Marketing through social media platform requires less investment and targets a maximum number of people.
3. Menu & Pricing: Strategize the menu. Offer the best of food that can be made. Pricing the menu perfectly is an art in itself. When the menu is balanced, it helps to gain more profit. Price should be decided according to the cost of the ingredients. Prices should not fluctuate. It is not only unethical but also results in losing existing customers.
4. Law: Every industry is run under some laws and regulations. The food business is not an exception. The basic concept that follows the law and regulations of the food business is transparency and food safety. To avoid any problem in the future, follow and achieve compliance with the law and the requirement it states. 
5. Edible Logistics: Research and work out about food delivery and packaging. Food delivery is more complex than any other logistics. The packaging should be decided smartly. The food should be packed in spill-free containers.
6. Organize: Food business needs planning. Every detail should be planned and put into a checklist. Multiple things should be organized before starting a business, storage, inventory, ingredients, packaging, orders management, etc.
7. Nature of business: The food business can be dual in nature. Orders can be taken offline as well as online. Decide if the business will just run offline or online or on both platforms. There is a lot of scope for running the business online. Social media, blogs, and websites can acquire more orders as the reach is maximum through an online platform.
8. Follow SOP: If the food tastes nice, the business gets permanent customers. People do not like to switch from one kind of taste to another. For making sure people stick to one specific brand and food business, follow the same recipe, the same raw materials and ingredients, and the same technique. Write down everything and then keep the following everything to ensure consistency.
9. Staff: Hire staff intelligently. From the chef to the waiter, everyone should be trained. Invest time to train each staff personnel. Remember changing staff frequently in the food business is risky and can lead to losing permanent customers.
10. Bestsellers: No matter how long the menu is and how many items it has. There are always some key selling items and dishes. Every food business has a specialty that people love. Identify the best seller and use it as the focus of the menu.
11. Feedback: Always trust your customer’s feedback. Be open to feedback and customize the food according to the ratings. The food industry is very competitive. It is essential to know what best can be offered to the customers and then launch the business. Food should be appealing, tasty, and different to get an edge over other competitors. 

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-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 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.

Every year when it’s time to do your taxes, you have to ask yourself whether you should do it yourself or hire a professional. Generally, it is always a good idea to hire a tax professional to prepare your taxes properly. However, with advanced tax prep software on the market, you can be a tax professional too. That being said, you still may want to weigh out the pros and cons before you decide whether to hire a tax professional or use tax preparation software. Here are some pros and cons of hiring a tax professional.

Pros:

Saves Time

Anyone who has sat down to do their taxes understands that it takes a lot of time. Unless yours are so simple that you can use an EZ form, reading through the tax laws, filling in the form, and calculating, your taxes can take hours. Tax professionals can prepare your taxes more quickly while remaining accurate. It is something you do not have; you should hire a tax professional.

Deductible Fees

Tax professionals will know what deductions you can get and apply them to your taxes, but there can be deducted as well. Therefore, if the cost of hiring a tax professional is holding you back from using one, knowing that their fees are tax-deductible may sway you to hire a pro.

Audit Help

Not only can a tax professional help you during an audit, but they can help prevent you from being audited. Tax professionals are far less likely to make any mistakes that would lead to an audit. However, even if you use a tax professional, the IRS will sometimes randomly audit taxpayers. If you are audited, whether triggered by an error or a random audit hiring a tax professional will be in your best interest. While you’re at it, you should also look into hiring a lawyer that specializes in taxes.

Fewer Mistakes

Even if you hire a professional tax preparer, mistakes can be made. However, a professional is less likely to make such mistakes. Though tax preparation software may have high-performance capabilities, it is still up to you as the user to put in the correct information. One typo can cause you thousands of dollars in penalties with the IRS. One mistake can snowball into thousands to tens of thousands of dollars because of interest. Therefore, if your taxes are even slightly complicated, you should hire a tax professional. Not only are they less likely to make a mistake, but even if they do because of your contract with them, they will have to rectify any issues that stem from their mistake.

Cons:

Cost

If you ask most people why they will not hire a tax professional, it is due to the cost. However, most people don’t realize that the cost is not as high as they would think, and as mentioned before, you can write off their fees. If a person does not have the money to pay the fee upfront, it would be more economical to use free online software.

Tax Prep Software

As mentioned before, tax preparation software can be just as effective and reliable to use as a tax professional if your taxes are fairly uncomplicated. Unless you upgrade, the software’s purchase will be a one-time cost instead of a recurring cost each year. If you input the information correctly, most tax prep software is extremely accurate and reliable.

Hiring Ahead

Hiring a tax professional is much like getting a great table at a popular restaurant; you have to do it in advance. In the spring, most tax professionals are buried in work. Therefore, if you use a tax professional to prepare your taxes, you should make an appointment well in advance. If you’re expecting a refund, it would be suggested that you make your appointment for January. If you wait till the last minute to hire a tax professional, you may not get your taxes done in time and could pay penalties.

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-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 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.

No matter the business’s size, recruiting is one of the most crucial aspects of running your business. While it is true, you can put your job opening online and receive applications and possible candidates, recruiting is the best way to ensure that you get top candidates for the position. The recruiting process used to be more challenging before the Internet opened up the candidate pool. The challenge now is to get through numerous applications to find the most qualified candidates to receive an interview. Recruiters are becoming more creative to help find the best employees for the businesses they represent. Here are five ways recruiters are effectively recruiting candidates that you can emulate for your small business.

Recruitment Marketing

Recruitment marketing has become something new in the respect that the online environment has changed the face of recruiting. When looking for an excellent candidate, recruiters use every resource they have to find them. But as a small business owner, you can cut out the commission and recruit like a pro yourself. Because we live in a world where social media is so heavily used daily by anyone with a device, using social media as a recruitment tool is vital.

So, where do you start? First, if you don’t already have one, you need to make a business page for your business on Facebook and LinkedIn platforms. Once you have these pages in place, you can begin to target recruiting efforts using your pages. Having these pages will give you a base and a place where possible candidates can see your business and how they might fit into it.

Target Audience Recruiting

Just like when selling a product or service, you need to figure out your target audience when it comes to recruiting the right candidates. Demographics are just as important in recruiting as they are in sales. When you have an open position, you need to imagine what the perfect recruit looks like to fill that position. Once you’ve determined the perfect candidate’s demographics for the job, all your efforts need to go towards putting your job posting in front of those who may be the right fit.

Social media is the perfect arena to help you target your key candidate demographic. Search for groups that are geared towards your demographic. Though the position you are offering may be better suited for someone of a certain age or gender, you still have to be careful not to alienate or eliminate any possibilities. However, suppose you heavily advertise the position in areas that are geared towards your key candidate demographic. In that case, you are more likely to get candidates that fit what you’re looking for in an employee.

Content Focus

When you identify where to target your ideal candidate demographic, it is time to focus on content that will attract the right candidate to your business. Creating content may require trial and error, especially if your target demographic is not your own demographic. However, since almost everyone with a device or the Internet is on social media no matter their age, gender, location, or beliefs, your net will already be widely cast. To narrow down the possibilities to viable candidates for the position, using a variety of good content to attract candidates could make all the difference.

Exciting Branding

Just like advertisements are meant to excite people to use products or services, you should use exciting branding to attract qualified candidates to your business. This is the time for you to be flashy and attract people through wonderful graphics, video content, written content, and overall business branding. When your business gets in front of the candidates you’re trying to target; you want them to look at your business and desire to work there.

When it comes to branding focused on recruiting, there is absolutely no difference between that type of branding and sales branding. The only difference may be that you show more of what goes on in the background to entice a possible employee candidate.

Go International

Though there may be plenty of qualified candidates in the US, don’t be afraid to go international with your reach. Many highly qualified and eager candidates will work very hard who want the opportunities working in the United States. Expanding your recruiting pool will never be a bad thing other than giving you too many great options.

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-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 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.

Financial risks are taken on by every business, no matter the size. For the large business owner or shareholders, the risks are minimized by the amount of revenue coming in that covers it. For the small business owner, every decision carries a risk. Most small businesses fail within the first five years. The highest percentage of those are within the first year. However, this does not have to be the case. The failures don’t stem from poor decision making alone. They stem from not understanding the risks and safeguarding your business from these risks to eliminate them or minimize them.

Preparation for your small business should include making a business plan. Within that plan, there should be market and financial analysis. This analysis is where you can discover and assess the risks of starting your small business and how to handle them so your business will succeed. Here are four financial risks small business owners face and how to minimize or eliminate them.

Failure to Plan

Every aspect of starting and running a small business is a financial risk. This risk comes from issues with financing and working to turn a profit during your first year in business. Depending on the type of business, you usually don’t start in the black as far as finances. This means that you have to acquire financial backing, whether from your savings, investors, or lenders. If you obtain financing from alternative sources, the financial risks increase as they are either looking for a return of investment or repayment of the loan. Both carry risks against your business if you are unable to produce.

To minimize or eliminate this risk, you should have a strong financial projection in your business plan, and beyond startup, you need to continue implementing financial forecasting. If it is your first year in business, you can use market and competitor trends to forecast month to month what your business finances may look like. If you have been in business for more than a year, you can use your previous year’s financial statements to help you forecast. Financial forecasting will help you prepare for downturns or business slowdowns if they are expected. It will also help you plan how to utilize the money best in those times when business is booming.

Product or Service Failure

Though you may believe you have the best service or product idea or business plan, customers may disagree. Every business is dependent on some level of sales to survive, but if what you are selling isn’t any good or if it is good but not something people need or want, your business will not survive, and that could potentially no only hurt you as the business owner. Still, it could hurt any other investors in your business.

To avoid this, you should do a market analysis. The market analysis is as it sounds. You research and analyze the market to which your product or service belongs. You don’t want to just focus on current trends because those can come and go, and if you are only offering something that is currently on-trend, you will go out of business when it is no longer the hot thing. Your focus should be on a product or service that has a long life ahead of it.

Don’t count trends out totally. If you have a central and timeless product or service, you can then add some products and services on trend to give your business boosts. If you are creative, you can even be the one setting the trends.

Risky Financing

Most small businesses can’t operate at startup or the first few years without outside financial sources. Therefore, you will need to seek out financing. While there are many reputable lenders and investors, there are equally those that are not. Before entering into any contract for financing, make sure you go through the contract thoroughly. It would even be suggested that you consult a lawyer to ensure nothing in the financial contract could later come back to hurt you or your business. Both investors and lenders can add things into the contract that could give them your business should you fail to return on their investment or repay the loan.

Though all financing carries some level of risk, some are riskier than others. When seeking financing, you must do a lot of research and choose wisely.

Not Knowing Your Target Market

Many business owners make the mistake of believing that their product or service is perfect for everyone. While this kind of confidence is encouraged, it is not realistic. Even products or services that everyone uses varies from person to person. Also, when considering your target market, it is not always the person who will use the product that you target but rather the one going to do the purchasing. For example, grocery shopping is generally done by one household member. Each person in the household may need things from the grocery store, but the person making the purchase and selection may not use the product. So in some cases, those who sell grocery items may only want to target the person doing the purchasing, not necessarily the person who will be consuming the product.

Market and target audience analysis are crucial if you want to get your share in the market. Once you identify your target market, then you should put all your marketing efforts towards them. This targeting will increase sales and minimize financial risks.

Conclusion

For the small business owner, part of owning a business is facing financial risks. However, as long as the small business owner recognizes the risks and understands how to overcome them, they will not affect the business. Owning and operating a business can be fulfilling and challenging all at the same time, but if you’re prepared, you can overcome those challenges, and your business will succeed.

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-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 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.

No matter if a person is running a small or medium business or SME, it is important to hire a professional to perform tax services. Tax accountants are responsible for preparing and filing your business’s taxes. Furthermore, the tax accountant’s job is to do a detailed assessment to ensure that the business’s financial activities are running smoothly. The tax accountant also plays a major role in keeping the business operations in a prosperous and healthy state. A business person who is thinking of initiating a startup needs to make a proper plan. This plan includes including different strategies on how to engage professionals, tax compliance, and cash flow.

Instead of using accounting software or doing the business taxes yourself by hand or using handwritten books, hiring a tax accountant for the business makes good sense. Here are six reasons you should hire a tax accountant for your SME.

Helps the Business Save Time

As a business owner, there are several important responsibilities to conduct properly to run business activities more smoothly. Responsibilities of an entrepreneur include marketing, selling of products and services, and budget planning. A tax accountant is responsible for ensuring that the business’s financial side gets taken care of accurately. Hiring a tax accountant will allow the business owner to run operations to accomplish business goals within a short period.

Helps the Business Avoid Costly Mistakes

Due to the number of responsibilities that a business owner has, it becomes challenging to ensure that every business operation is accurate. There is a high risk that entrepreneurs will make some serious mistakes when dealing with the tax filing process in such cases. These mistakes can either cost the business a lot of money or worse; they can cause the business to be shut down.

To remedy these issues, there is a need for a tax accountant to help the organization navigate the business processes in the easiest way possible. This approach will help the organization to save the business amounts to prevent errors.

Helps Businesses Deal with Complicated Tax Filing Processes

The process of paying taxes is considered a ‘cumbersome affair’ because, to file taxes, it is important to fill out the appropriate form accurately by providing facts, including details of accounts, income, expenses, and payroll. All of these factors are necessary to keep the businesses on the right track. Hiring a tax accountant will help a business owner take care of all these issues efficiently.   

Helps the Business Identify Deductions

Hiring a tax accountant will help the business owner identify the potential deductions and provide the best possible advice. This advice will help an entrepreneur to make strategic decisions concerning year-end deductions. It has been observed that business owners often forget to keep track of the items like home office space, out-of-pocket expenses, and depreciation.

Helps Reduce Tax Liability

The job of a tax accountant is to know and understand tax laws and regulations. They also understand the current deductions available to the business. Understanding the laws, regulations, and deductions and finding other ways to cut taxes by reviewing the books will ensure that the business owes as few taxes as possible.

The tax accountant can also look at ways to save on your taxes throughout the year instead of just during tax season.

Helps the Business Grow

Hiring a tax accountant can help a business grow by keeping all the financial aspects of the business well recorded. These records can produce financial statements that will help the business owner understand what kind of capital the business has for growth. With a tax accountant taking care of the business’s financial side, the business owner can concentrate on other business areas, such as operations, and focus on growth.

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-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 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.