Saving N Spending |
- Can You Use a Logbook Loan to Fund Your Start-Up?
- 7 Rights that you Have while Being Targeted by the IRS
- Save, Don’t Spend: Seven Things We Pay Too Much Money For And Why
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Posted: 02 Apr 2014 08:56 PM PDT
 That's an interesting question for start-up founders and it's also interesting to note just how many start-ups have been founded through unorthodox means.Here are three to derive inspiration from … or not. It might be safer that you don't! BloomNationFarbod Shoraka and two friends, David Daneshgar and Gregg Weisstein, used Daneshgar's winnings at the 2011 World Series of Poker, $27,000, to fund their start-up.CityRewardsNetworkDavid Moore presold his service to sixty customers for $1,000 each, but he also did something you're advised against; he applied for eight credit cards simultaneously. "I had to be quicker than the reporting system so the inquiries didn't show on my credit report."PracticeFusion"I was broadsided by a car while riding my Ducati through an intersection in San Francisco," says CEO Ryan Howard. The money from the settlement money was used to keep what was proving to be an unsustainable start-up going, one that's now immensely profitable.Whilst these are inspiring stories, bear in mind there are many ways to fund a start-up business, many of which don't require collateral at all, and for that reason, not to mention the fact that there's always the chance that an unsuccessful start-up endeavour could see its founders sleeping in their cars, it's best to explore the options available to you before you apply for a logbook loan. Don't quit your day job … yet One of the best ways to fund your start-up, and incidentally one of the best ways to help you raise start-up capital by applying for loans like logbook loans and personal loans, is to keep working, i.e. don't quit your day job. As long as you're working you'll still have an income and although you won't have as much time to focus upon your start-up venture, you will, however, find that your chances of funding your start-up venture by applying for loans and finance is much better than when you're unemployed, which is generally what start-up founders are until things start going well. Enter a contest Sure, it sounds laughable but the prize money offered by organisations and philanthropists to encourage start-up innovation is anything but a joke, take the Amazon Web Services Start-Up Challenge for example. This contest boasts an annual reward of $50,000 plus another $50,000 in AWS credits each year to businesses. Many major universities also offer outstanding reward money for start-up innovation with world-renowned MIT offering prize money in excess of $350,000 annually for accelerate, launch and pitch contests. That's something worth competing for. Crowdfunding As a start-up founder you'll most certainly be aware of crowdfunding websites like Kickstarter and Indiegogo, the big names in crowdfunding at the present point in time. Like the contests discussed above, competition is rife and it suffices to say that the vast majority of start-ups trying to appeal to conscientious consumers go unfunded. However, business is all about competing and getting your name and ideas out there so you won't be wasting your time at all provided that you learn something in the process. Loans – Secured and unsecured At last, a more conventional approach! Loans might be a more conventional approach but it suffices to say that you stand a better chance of securing the start-up capital you require by applying for a logbook loan at carcashpoint.com, where you use your car as collateral, or an unsecured loan, where you needn't provide any collateral at all. If you're going to apply for a logbook or personal loan to fund your start-up, consider the advice given earlier – don't quit your day job – it makes all the difference. About the Author: Discover a quick and easy way to get logbook loans at Carcashpoint.com, a lending company that provides hassle-free solutions to people’s financial needs.  Related posts:
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Posted: 02 Apr 2014 08:49 PM PDT
 Being audited is one of the most painstaking experiences for taxpayers even for people like Mitt Romney, Bill Gates, Warren Buffett, and many other business owners. In the event of an IRS audit, your best advantage is to know your rights. Be aware of the following seven rights that you have while being targeted by the IRS and you will potentially have a better time when you go through your IRS audit or other related issues. 1. Act AccordinglyYou have the right to know the IRS rules and act accordingly. Keep your company out of trouble during an IRS audit by following directions listed on your audit letter. Organize records accordingly, and immediately replace missing records with duplicates. When it’s time for your audit, only bring what is asked for. Extra records that were not requested could inadvertently get your company into trouble. Do not try to go above and beyond or try to impress the agent. Remain professional, courteous and punctual. Your agent is a trained professional, and you should reflect that attitude to keep your business in good standing. If you can act and remain professional during your IRS audit, you are likely to either get in less or in no trouble at all. As a result, it will keep your business out of scrutiny of he federal government.2. RepresentationIf your company is being audited, you have the right to represent yourself or hire professional representation. An attorney, CPA (certified public accountant) or enrolled agent can help guide you through the audit process and field questions during the actual audit. They can help you remain professional and organized for your audit as well as keep you informed of your rights throughout the audit process. They can also advise you how or how not to answer questions asked by the IRS auditor.3. ConfidentialityYour audit will stay between you and the IRS, without being disclosed to anyone else. Throughout your audit, you have the right to inquire about the purpose and importance of information being requested. You also have the right to ask what the consequences will be if you decline to furnish requested information.4. Quality ServiceDuring an audit, you have the right to receive quality, professional service. IRS agents are specifically trained in customer service, and they should courteously address your concerns. If your service is below par or if the IRS agent makes you feel uncomfortable in anyway or somehow oversteps their bounds, you have the right to file a complaint with your region’s IRS Director.5. Responsibility for Tax PaymentsIf the IRS is targeting you, know that you will not owe more than the accurate tax payment due. This means that you are responsible for the amount of taxes you owe, but you cannot be “charged” more tax payments than are due by law. Also, you have the right to set up a payment plan if you cannot pay the entire amount of taxes due at your audit.6. AppealsIn the event your audit produces a result that you believe is unfair or incorrect, you can appeal to the IRS. Either the IRS Appeals Office or a court can review your tax case and determine whether your tax liability or collections status is appropriate. Having some form of legal representation also comes in handy in this scenario as well, as they can help you review your case and truly make sure that you have been treated unfairly. They can also help you do battle in the IRS Appeals Office or in court.7. Waived Penalties and InterestDuring your audit, if you acted in good faith of an IRS employee and incurred penalties or interest due to incorrect advice, you have the right to have these costs waived. A request to have these penalties and interest waived can be requested in writing.When the IRS is auditing you, remember the seven rights above as they will help keep you and any other party involved out of trouble. These will help you move through the process smoothly and successfully. If you have questions regarding an audit, please contact a lawyer, CPA or enrolled agent Related posts:
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Posted: 02 Apr 2014 04:37 PM PDT
 Like most people, you probably worry that you are paying too much for the things you purchase. Although the old axiom about getting what you pay for is true in some circumstances, there are a number of goods and services that people routinely pay too much for. Here are seven examples to help you cut the unwanted fat from your budget.ATM FeesIf you routinely use a conveniently located ATM from another bank, you pay for the privilege. Consider switching to the bank that supports the ATM, or plan ahead and get free withdrawals from your bank, a cooperating branch of a competitor or in the form of cash-back withdrawals from a grocery store. Use credit cards instead if you need to buy something last minute and don’t have any cash.Auto MaintenanceRegardless of what your dealer may imply, any qualified mechanic can do routine maintenance on your car. Check with local garages, high school, technical college programs or even the local auto parts store to see how much you can save on maintenance. The best way to save is to do simple repairs like oil changes yourself. Keeping up with maintenance on your vehicle will prevent you from having to pay too much for repairs. If you car does need extensive repair with the help of a professional, consider buying used parts online to save more money.Brand Name Food ItemsIf only one cola really hits the spot, the extra you pay for the signature taste may be worth it. However, for many products you use, there are private-label versions that will do just as well. Start slowly by trying a few off-brand products here and there. You may be surprised by both the quality and the savings you receive.Family PhotosIt’s impossible to put a price on precious family photos, but that doesn’t mean you have to pay too much for them. Look for special sales and discount coupons for your favorite studio, or call local photographers to compare prices. Many local studios will offer family portrait discounts throughout the year to help you save on your pictures. Picking a quality photographer or studio upfront might seem a little pricey at first, but you will save you bundle with clear and nice pictures the first time. Rather than paying someone else to get them done again throughout the year, spend the money only once a year and get quality photos.Fast FoodTakeout really isn’t any faster or more convenient than making a cold cut sandwich for your lunch or grabbing a muffin on your way out the door in the morning. Take the time to learn a few simple one-pot dinner recipes and you can eliminate most fast-food at dinner time, as well.WeddingsWhile weddings are supposed to be a once in a lifetime event where family and friends can celebrate, that doesn’t mean it has to come with a hefty price tag. Save money by bundling flowers, the cake and decorations from one place. Often times, the search for the perfect item can cause headaches and more money, when it can often be done at one location. Hiring a wedding planner is also a great investment, because they can get you the best deals that aren’t offered to anyone else.UtilitiesWhile paying utilities is something you can never avoid, you can save by taking a few steps starting in your home. Seal windows and doors, or invest in better windows, to save you a load of money during the winter. Getting LED light bulbs will also save you in electricity, as well as the need to replace them as often. Turning off lights and lowering the heat settings a night is also a simple way to spend less on utilities.Saving money can be painful, but it doesn’t always have to be that way. Try these tips to reduce your bottom line without cramping your style. Related posts:
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