Author: Complete Controller

The phrase “life” is interpreted as “peaks and valleys.” Likewise, the term “investment” has a similar connotation. In this path, sunny days are abruptly followed by clouds and then rainy days, yet after the rain comes the rainbow.

For example, you may gain higher returns on your investment. But the market collapses the next day owing to inflation, and you lose all you have invested.

However, having the following characteristics is compulsory if you have decided to become a successful and intelligent investor.

• Strong-willed
• Courageous
• Sound intellectual framework
• Emotional discipline
• Personality for risk

These traits will drive you on a fulfilling road even in the darkest times because life is supposed to teach us lessons that will eventually make us wiser. So, are you willing to subscribe to the most profitable yet rough journey? Let’s go!

This article is inspired by the writings of Benjamin Graham, Warren Buffet, Thomas J. Stanley, and Nigel Cumberland—one of the most notable figures in the financial world.

Disciplined Personality

From Warren Buffet’s view, A market is a pendulum that actively swings between unsustainable optimism and unreasonable pessimism. The market remains loyal to its nonlinear traits, either stable or fluctuating. On the other hand, a wise investor is a realist who sells to optimists and buys from pessimists.

What does this mean? The attitude while investing evolves with time, but investors who religiously practice a disciplined approach stand with steadiness in the surge of economic adversity and fluctuations in the market.

You might be wondering why I am demonstrating the qualities of an intelligent investor. These attributes I’m jotting are the backbone of investment; even in the worst time, a savvy investor knows how to manage and swim out of trouble.

Investor vs. Speculator

With his profound common sense, the father of practical investment, Benjamin Graham, defined investment as “An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return.”

What does it mean? In simple words, Ben demonstrated three critical elements for investment.

Before purchasing a company’s stock, it is integral to do an in-depth analysis of the company and the underlying financial soundness,

• Shield yourself from significant losses deliberately.
• Aspire to perform adequately, not extraordinarily.

Now, what distinguishes an investor from a speculator? An investor calculates the stock’s worth based on the value of a business; in contrast, a speculator ‘gambles’ that a stock will go up because somebody else will pay even more; you can name it reckless investing. However, Investors evaluate market prices using defined value standards; meanwhile, the speculator develops their standards of value ‘upon’ the market price. Benjamin Graham encourages investing if you would be content owing to stock, even if you didn’t know its daily share price.

For a better understanding, consider casino gambling in the case of speculating; it can be exciting and lucrative if fate’s swing is on the good side, but bear in mind that this is the worst potential strategy to accumulate wealth. Conversely, investing is a unique casino where you will not lose if you play by the principles that squarely put the odds in your favor.

People who invest make money for their lives, but people who speculate make money for their brokers.

Defensive Attribute

Graham defined defensiveness as directly proportional to your risk tolerance and willingness to invest considerable time and energy into your portfolio. Your negative experience does not drive the decision to invest in stocks; if the stocks are priced and capable of providing growth prospects, you should own them regardless of any losses you may have had. And if you properly pursue this, investing in stocks is just as easy as parking your money in bonds and cash.

Risk Comes from Not Knowing What You are Doing

Intelligent investors make sound decisions even when the outcome is unknown and they have high-risk tendencies. Suppose you are inclined to take more significant risks; note this. In that case, you have a more incredible opportunity for return and better investment decisions.

Don’t Put All Your Eggs into One Basket

Imagine you have invested all your money in stocks, and the other market drastically crashes due to hyperinflation; the prices have fallen, and recklessly, you have put all your eggs in one basket, which is potentially dangerous and devastating.

You lose all your amassed wealth with one basket and create a poor portfolio lacking diversity. Experts suggest that the more diverse the portfolio is, the higher the chances of success. Successful investors practice dynamic asset allocation, which includes redistributing assets among various classes based on the possibilities of expected returns compared to the risk and evaluated worth, as mentioned in the first guidance. Consequently, the yield is multiplied; however, it takes substantial time and expertise to achieve the confidence to get it right. Moreover, receiving advice from a fund manager can be beneficial in some cases if you pick on it smartly. But, if you have a learning attitude, then The Intelligent Investor by Benjamin Graham can do wonders for you.

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.

Unfortunately, we must conclude that young entrepreneurs often have too little time and financial resources to set up a real marketing strategy. To overcome these shortcomings, here are five mistakes we frequently encounter in company marketing strategy so that you can learn relevant lessons to reach your customers without too much detour.

Choosing Inappropriate Communication Channels

The evolution of communication standards – especially the Internet – has created various tools that help small businesses with often limited budgets to increase their visibility. Social media, for example, is a suitable means of communication for those with limited financial resources.

However, being aligned with communication technologies should not be an end. It should certainly not detract from the goal of your business, which is to sell what you offer as a product or service. Therefore, you must continue to focus on your offer and judge whether it is tuned to your chosen communication medium. For example, if you open a retirement home, LinkedIn is not the best way to promote it.

To create a good strategy, you must ask yourself the right questions: what does your offer look like? Who is it for? What resources do I have? What are my sales objectives? On the site of 1819, you will find concrete prospecting methods, such as e-mail, telephone conversations, informal networks, posters, radio or television campaigns, etc. If you find an answer to these three questions, you will soon know which communication medium is most relevant to your project.

Prospect Anytime, Anywhere

It is often more exciting to win new customers than to ensure the satisfaction of existing customers. However, increasing sales is easier and cheaper thanks to customers you have already acquired.

Experts argue that customer retention of 5% of our customers can increase the average profit per customer by 25 to 100%. 

Getting Your Message Across Incorrectly

Remember that your marketing campaigns aim to get consumers to buy. It is often helpful to start a dialogue with your customers to adapt your offer to their needs and know what appeals to them, what they attach importance to in their daily lives, and what resonates with them. A mistake we often see arises when the message is redirected, sometimes even without considering the recipient.

For example, some companies tend to communicate their objectives. We all strive to provide the best solution to our customers and work as optimally as possible. Goals are indeed required to measure your progress. Another fatal mistake is communicating about the competition. Responding to potential attacks from a competitor or trying to outperform him in spreading the message wastes time. Worse, it can discredit you—better focus your efforts on how you differentiate yourself from your competitors.

Rushing and Sometimes Missing the Boat

Not all your marketing actions yield satisfactory results, and you are often tempted to go in a different direction.

Why not evaluate your communication campaigns with a limited audience beforehand to avoid this shortcoming? Again, focus on a direct dialogue with your customers. Today, the most knowledgeable companies’ marketing strategies are based on their customers’ feedback rather than the features of their products. Think about how you can respond to that.

Note that the speed of current means of communication makes it difficult to spread a coherent message. Be patient, take a global view, and take a long-term picture of your marketing strategy rather than rushing it.

Thinking that Action Guarantees Success

In a perfect world, you could pitch an advertising campaign in the right place at the right time and significantly expand your customer base. It is difficult for the consumer, constantly inundated with information, to make an immediate decision.

Be realistic! Your first communication will be an opportunity to make the consumer think about your product or service. Creating as many contact points as possible through a maximum number of communication channels is essential. The idea is to maximize your access to potential customers so that you are visible when they are ready to decide. 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.

Class struggle is critical to understanding the debate on social change. In its structure, the State contains channels and thus contributes to social conflict. In and through the State, it operates to constitute forms of social reproduction.

The neoliberal crisis was a broad crisis resulting from the inability of the fractions that emerged as dominant to continue expanding their capital based on higher levels of productivity and more significant appropriation of the value created. This inability was expressed within capital as a productive force and capitalist society. Neoliberalism transformed capital’s social and technical composition and opened the space for a change in the political composition of classes.

This change is perceived in the transformations in the working-class structure (between branches, qualifications, etc.) and in the organization of dead labor or constant capital.

With the exhaustion in the global south of the last phase of the neoliberal era (1995-2002) and the internal contradictions (economic, but also political and social) typical of the process at the level of capital as a productive force, the crisis manifests itself in the impossibility of increasing its value in the face of various forms of resistance. At the level of the capitalist society, it is expressed through the inability of the dominant classes to reproduce in an extended way without significant shocks, the fundamental social relations, and their social hegemony.

On the one hand, the workers’ new political composition was expressed in new forms of opposition, both from the point of view of the workers’ organizations and outside of them. On the one hand, despite the advance in the precariousness of the production conditions, the workers’ organizational resistance was able to put concrete limits on the attempts of capital to channel the limits of accumulation on them. In parallel, as of 1993, the unemployed movement (‘picketers’) began articulating.

For its part, the development of the environmental struggles of native peoples and peasants, the struggles of small producers (urban and rural), and the advances of the feminist movement, among others, accounted for the formation of new modalities of articulation in the field of the people, of a new political composition of the class.

These changes also materialized in a blockade in the form of the neoliberal State. Constituted as a minimal, residual, repressive, strong State, as a form of capital as a social relationship, the neoliberal State in crisis cannot politically channel the people’s demands and money. Convertibility as a comprehensive strategy loses effectiveness, and the marginal and repressive intervention of the State becomes useless in containing requests and resistance. Neodevelopmentalism supposes the constitution of another form of State that can contain and channel the demands in the new political composition of the classes.

The class struggle is not generally expressed directly in the relationship of work against personified capital (companies or entrepreneurs) but through different mediations. In capitalism, class demands are translated into specific policies and orientations through the State. Not all the demands of the other classes and their fractions are channeled in the same way, with the same integrity.

On the one hand, given that the State is a form of capital, it processes demands through mechanisms like top-down and bureaucratic patriarchies and racism, which tend to reproduce multiple domination relationships. It is expressed in ‘structurally situated and strategically selective’ forms of state channeling of demands. Popular demands are first denied by capital and the State (ignored, rejected, repressed) and only eventually satisfied through specific institutional forms (e.g., labor legislation, Ministry of Labor).

The demands of capital and its dominant fractions are channeled into different state institutional spaces, such as macroeconomic or monetary policy.

On the other hand, the State is not omnipresent, omnipotent, or absent of contradictions. The objective contradictions that occur in the sphere of society are also expressed in the state form. The State is not ‘above’ society but within it. The fundamental contradiction between capital and labor in the space of production or immediate circulation of value is mediated not only by the practices of the actors directly in conflict but also by the institutional forms that (temporarily) solidify these contradictory relations.

This relationship includes both capital and (living) work in its modality as an active form of work (as variable capital) but also the relationship with work as non-work (that is, as non-capital work, suspended work, ‘idle’; Dinnerstein, 1999). The capital relationship also includes and tries to subsume other forms of work outside the direct connection of exploitation. Peasants, native peoples, and small farmers are subject to the capital’s attempts to oust them from their territories or hold them under its aegis.

In this way, the dynamics of the valorization and accumulation of capital (that is, the expanded reproduction of the capital relation) are constituted not only within the direct production space (‘the factory’) but also in the set of social connections outside of it, in the space of ‘reproduction.’ The idea that contemporary society ‘is’ (at least as a trend) the society of capital accounts for this comprehensiveness.

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.

Companies must be given the tools they require to function. However, their financial health and business will suffer if they do not control their running costs. If a corporation overspends on office space, it may be unable to pay its staff. Organizations that want to protect their bottom line should cut operating costs. In today’s competitive market, this will assure their survival and growth.

The cost of goods sold, which are direct expenses of producing items, is an essential component of operating expenses. Examples of prices of goods sold include raw materials, supplies, manufacturing parts, and shipping. Other types of running costs include the following:

• Labor and payroll costs
• Maintenance and utility costs
• Employee pensions, health insurance, disability insurance, and other benefits
• Sales commission
• Depreciated assets
• Amortization

Calculating the operating expense ratio can help organizations know their operational spending (OER). This data point allows brands to compare expenses to revenue and track efficiency. Divide operating costs by payments to get the operating expense ratio.

The total earnings associated with a brand’s operations are operating costs. To determine this, deduct operating expenses from total revenue for a given period. The tiny business would earn $400,000 in operating income following the previous example.

Businesses that aim to cut operating costs should follow these best practices without sacrificing product quality or the workplace environment. This will preserve the brand’s bottom line, but it will also improve efficiency and competitive advantage.

1. Leverage technology

Many business systems and software platforms are available in today’s digital world. Using these solutions, specific processes like payroll, inventory monitoring, and supply chain management can be automated and simplified. These technologies will boost productivity, allowing businesses to execute tasks faster and with fewer human errors. As a result, companies can save money on labor and avoid delays caused by mistakes.

The following questions should be considered while choosing a business system or program.

• Which task requires improvement?
• What business function is currently performing well?
• Which company process is the most time-consuming?

2. Research vendors

Businesses that rely on suppliers for materials and completed items should do their homework to choose one that fits their budget. It’s crucial to consider their wholesale rates, order minimums, delivery timetables, and shipping costs. Small businesses, for example, should seek vendors with low order minimums because they have fewer clients and expectations.

3. Outsource jobs

Outsourcing is another cost-effective option to improve operations. If a shop, for example, does not have a strong accounting background, it can hire a tax specialist or accountant to help them. This ensures accuracy and allows the organization to concentrate on other essential tasks.

4. Promote telecommuting

Working from home is becoming more convenient and more common. According to data, 4.3 million Americans work remotely at least half the time. Furthermore, according to Upwork, by 2025, 22% of the workforce will be working remotely. The company will save on office space and utility costs by allowing employees to work from home. It also eliminates the need to purchase workplace supplies like printers and computers.

5. Pay vendors promptly

Paying all payments on time is another way to cut operating costs. Companies should pay their vendors’ invoices either early or on time. This will avoid any late fees, interest, or other costly consequences. In addition, several suppliers offer discounts to customers who pay their invoices on time.

6. Take notice of inefficiencies

Wasteful spending and resources can emerge from inefficient processes and procedures. If a retailer’s demand forecasting method is ineffective, they will waste capital on products their customers do not want.

Business leaders should evaluate their operations regularly to spot inefficiencies and save money. They will better understand what works and does not because they work directly with clients and procedures. Collecting staff comments and suggestions would also be beneficial.

7. Cancel subscriptions

Regularly review your subscriptions to numerous services as a business owner or manager. If you haven’t used a platform in months, canceling it or switching to a less expensive plan may be more cost-effective.

8. Be sustainable

You can save money by purchasing eco-friendly products such as recycled paper, intelligent thermostats, and energy-efficient light bulbs. There are also environmentally efficient options for air conditioning and heating. This allows the company to save money while maintaining a pleasant working environment.

Many businesses can reduce their expenses, increase earnings, and improve cash flow by implementing these cost-cutting strategies. 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.

There are many ways to plan a career. There is also a problem; it is to know at which stage you are at first. Are you a school student seeking to decide which field to choose, or have you been admitted to college and want to pursue the most earning or easiest career? Or you are in the mood to change your field through some expertise you must make in different job experiences. Knowing where you are and moving is essential; this blog will help you decide how to go through the long, arduous process.

Are you finding it challenging to locate a job that matches your personality and interests? Take a quiz to find out which job might be right for you. Begin at the beginning – with yourself.

We all want to find an excellent job by picking the proper profession. “Find a job you adore, and you’ll never have to work again in your life,” as the saying goes. It enlightens something that most of us aspire to. It also puts a lot of pressure on those trying to figure out what they desire to do with their lives. Is it feasible to find a career that you enjoy enough that it no longer feels like employment?

Is it Possible to Find a Good Job by Choosing the Right Career?

Most of us will probably have days when we do not want to work. Regardless of how much effort we spend looking for a decent job and selecting the correct career. There will be days when you feel forced to do that task even if you are not compensated. The trick is to pick a job with many lovely days above those that aren’t so wonderful.

With all these occupations to select from, there are several things to remember to maximize your possibilities of finding a rewarding job. Find a job that fits your interests, aptitude, personality, attributes, and values. It’s also crucial that you enjoy your work tasks, that your wage is fair, that your prospects are promising, and that the corporate culture is appropriate. By picking the correct career here, you may find more advice on finding a decent job.

Get to Know Yourself

First, you should learn as much as possible about yourself by doing a self-assessment. Only when you have a greater understanding of yourself can you successfully explore careers based on what you come up with?

Learn More About Different Professions and Careers

After completing a self-assessment, some occupations you discover may be ideal for you, while others may be entirely inappropriate. Another list of alternative occupations and jobs that may suit you based on numerous variables, such as personality, is sometimes included in the findings of a self-assessment. However, picking the right career or finding suitable employment is only the beginning.

Many Different Criteria Must Agree

Certain occupations may appear to be a good fit based on your personality, hobbies, and values, but they may be incompatible in other ways. The tasks may be unappealing to you. Or that the work market’s prospects may be bleak. It’s also possible that the requisite training will take more time and effort than you’re willing to devote.

Investigate Several Career Opportunities

Assure you’re making an informed selection by thoroughly researching each career option. Read position descriptions for various occupations carefully and attempt to get over any preconceived preconceptions you may have. If you do not have professional experience before beginning your review, you will have more to learn until you can obtain a promising career.

Find Out if You Meet the Requirements

Again, if you’re interested in specific vocations after researching them, the following stage is determining the training requirements. Suppose you need an academic education to grow in your career but cannot obtain one. Then, you should probably avoid that profession. Make sure your resume’s standards are met.

Examine the Prospects for Jobs in the Future

When you don’t investigate what a given career offers regarding job possibilities, you’re doing yourself a disservice. Whether the competition is considered modest or high, and where it occurs. It’s not fun to devote time to studying for a vocation and career to discover that competition is fierce and that unemployment inside the profession is significant. 

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

The accountant will always be one of the most critical employees because the profit and prosperity of the company largely depend on him. But a good accountant is different from the rest. A bad employee is easy to recognize. Even if an accountant works for a huge corporation, the volume of work is no reason for delays. In addition, in our time, modern technology greatly facilitates work. A qualified accountant completes the preparation of reports no later than ten days after the end of the billing period, and a week is enough for him for a preliminary report. Today, this is no longer a pleasant trifle but a business requirement: efficiency and personnel are everything.

It Optimizes the Business

Your accountant came to you as an ordinary employee, barely coped with 1C, and confused the processor with the system manager. And now, a few years later, he has become quite comfortable, constantly telling you about next-generation computer technologies. Now, for the third time, he brings you a plan to reform the accounting system. We hope you understand that it is worth making him a chief accountant. If an employee manages to create a system with which you can improve the efficiency of enterprise management and accounting, or at least make suggestions for optimization, he is almost irreplaceable. In addition, it is always worth encouraging employees who grow effectively within the company. You will only benefit from this. Or maybe your accountant does not know how to extract the folder from the archive but knows how to benefit from the latest amendment to the Tax Code. Tax laws are frequently updated and need to be constantly monitored.

All Records are Kept in Order

Among accountants, people with a mathematical mindset are a lot of creative people. One of the well-known and ineradicable traits of creative personalities is disorder. And no matter how much their parents scolded them in childhood, these people still prefer to work in disorder as adults. It does not matter if the work is done well. It is worth being on the alert; the mess on the table can sooner or later get into the account. A good accountant keeps the details of all your documents in the database, not in desk drawers and not on bright stickers. 

Organizing Management Accounting

Classical accounting has a pronounced tax-oriented character. However, within the framework of such accounting activities, it is impossible to solve investment problems or effective strategic planning. Perhaps you are lucky, and your accountant maintains management accounting for the enterprise. Such an initiative should not go unnoticed because he took on a great responsibility. It suffices to say that if the financial report is prepared quarterly, you can prepare the management report daily. In addition, higher mathematics, complex analysis, and statistics are much more often used in management accounting. A good specialist always strives for new knowledge, and management accounting can become a further step in the professional growth of an accountant. The main difference between financial and managerial accounting is that the financial report covers the “past,” the transactions of the company that have already been carried out, and the managerial one answers the question: What can improve the company’s efficiency in the future? By the way, this is the difference between an accountant and a financial director.

For Large Enterprises

The financial statements consist of a balance sheet, a notice of financial results, a statement of changes in equity, a statement of cash flows, and a statement of the intended use of funds (only for non-profit organizations). In addition to the ability to read the balance sheet, knowledge of the primary accounting accounts, based on the specifics of the activity, will not interfere. For example, if you are using the primary taxation system, you need to understand the VAT accounts (incoming and outgoing), as this is the first thing the tax office pays attention to. It is necessary to have information on fixed assets on the balance sheet. Be sure to control accounts receivable and accounts payable. Without such control, there is a risk of falling into a cash gap situation, which entails unpleasant consequences.

For Micro-Enterprises

A simplified accounting form, which consists of a balance sheet and financial results statement, is allowed (individual entrepreneurs can also use it). To correctly plan the budget, you need to see regular costs: the wage fund and payroll taxes (personal income tax, pension contributions, and contributions to the Social Insurance Fund). It is imperative to know the amounts for taxes and credits/loans, as these are priority payments that cannot be delayed, and control over them must be constant. It is also good to calculate profit based on available data without a balance sheet, and it is better to do this monthly or at least quarterly.

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.

Do you regularly earn money with it? Then you may have to deal with the tax authorities. You must arrange that properly because that can save you money. Or let us do that for you.

Hobby as a Source of Income?

Is your hobby slowly becoming more than a hobby? Do you even regularly earn money with it? Then, the hobby is within reach. And the tax authorities will usually quickly consider that there is income and tax should be levied!

You will then become a “result-enjoyer” or maybe an entrepreneur.

Are you an entrepreneur or not? It is an essential question for every self-employed person. And the answer to that question has significant financial implications. If you are an entrepreneur, you are entitled to all kinds of advantageous taxes.

You will then receive obligations but certainly tax benefits as an entrepreneur.

Source of Income?

If the tax authorities believe you should pay tax, there must be a source of income. That is the case if:

• There is an organization of capital and labor
• Your activities take place in the economic traffic
• You aim to take advantage of your activities

You can expect sustainable profit.

For example, it is not the way if your activities are only in the hobby or family sphere. Therefore, do not give in too quickly if your hobby is a source of income.

Hobby or Source of Income

Selling unnecessary stuff on marktplaats.nl is perhaps the most accessible side income. Can you go about your business undisturbed, or must you report to the tax authorities?

As soon as the income from your hobby is structurally higher than your costs, the tax authorities will usually state that there is a source of income. The proceeds are then taxed, and you may have to start charging VAT on your sales!

Example 1

You can sell your stuff on marktplaats.nl or a flea market. These are incidental revenues from selling items you did not explicitly purchase. It is not a source of income for tax purposes.

Example 2

You have a severe hobby; you spend a lot of time and money on it. You regularly buy stuff for your hobby and sell things that are duplicated or that you are no longer interested in. Due to your expertise, you occasionally recognize a “bargain” and sell it for a profit.

Your hobby regularly brings in something, but you also incur many costs. The result is negative or modest. The income is too untaxed, and the prices are not deductible.

Example 3

You are an art history teacher with excellent knowledge of antiques. In your spare time, you often visit free markets and the like. You also spend your holidays visiting well-known markets, even abroad.

At first, it was your hobby to find bargains for your own home. But now, you no longer have room for that. You buy antique objects all year round that are attractively priced. Thanks to your expertise, you know the sales channels to sell those objects again at a profit.

This hobby has most likely become a source of income. You must state the result in your tax return.

Tip: start-up costs of a profitable hobby

Do you have a hobby that got out of hand? And can structural revenues be expected in the foreseeable future that the tax authorities will regard as a source of income? Carefully register all start-up costs and save receipts and invoices.

In the first year as an entrepreneur, you may deduct losses from the start-up phase of your company. The start-up phase is five years before the start year as an entrepreneur.

Entrepreneur or Results-Seeker

As soon as the tax authorities state that your hobby has become a source of income, you must pay income tax on the result. It makes a lot of difference whether the tax authorities see you as an entrepreneur or a profit-seeker.

If there is no entrepreneurship, but your secondary activities are profitable, you will enjoy “income from other work. “You are then known to the Tax Authorities as a “result-enjoyer.” 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.

Motivation is an inner and outer aspect that urges people to attain their objectives. Internal elements include things like a person’s needs, interests, and willingness to grow, whereas external influences include perks and benefits. For a boss, encouragement is about connecting to these elements and figuring out what forces motivate everyone in the team. You must first recognize that it is a difficult task to properly encourage and establish trust with your employees.

 

Hire the Right Employee

 

The first step in hiring skilled and competent employees for your firm is hiring the appropriate individual for the right job from the beginning. However, instead of putting in a job announcement, harried businesses frequently prefer to recruit a friend, ally, or friend of a friend. Take the time to discover the ideal candidate for each position if you want to find employees who are passionate about their jobs and are willing to go above and beyond. It will pay off in the long term.

 

Manage Expectations

 

Another of your first tasks should be to compare the company’s objectives to those of the employees. It is sometimes between assumptions that conflict. The administrator may have an opinion about how and what your staff should achieve, but the team and its participants may disagree. Your boss’s role is to walk a fine line between objectives and concerns. You must listen to the team and be open to discussion in this situation. 

 

Development

 

When it comes to motivating employees, development is usually the most critical component. Wages, incentives, and challenges are all effective motivators, but they only last a limited time. Several employees thrive under extreme pressure, while others take a longer time. Instead of compensating your employees, invest in their development. Be not hesitant to put your staff to the test. You undoubtedly understand how tedious it may be to work every day and don’t feel like you’re progressing or acquiring anything helpful from it.

 

Be Open with the Company’s Assets

 

Several corporate executives are hesitant to share income and expenses with their staff. However, having clarity in the financial statements can be beneficial. Employees may understand in binary terms what is required for the company to bring in revenue if they are honest about its capital, earnings, and expenses. Employees will feel more connected and may develop an interest in improving their profit by putting in more effort. It is much more significant if your firm has a compensation system because the employees will understand exactly what is required for the company to flourish.

 

Use Reward Programs Properly

 

You can encourage employee commitment through incentive schemes, bonus systems, or incentive programs. However, it is critical to make good use of the reward systems. You must be clear about the company’s objectives and what the employee must achieve to qualify for the incentive. Furthermore, the award or bonus must be appealing to employees. Find out what your employees desire in terms of a reward.

 

Build Trust with Employees

 

Employees are more satisfied to go above and beyond for a leader they respect and take an interest in and gratitude for their work. As a result, building integrity is more vital than you might believe. Take the chance to communicate with employees, hear them, make them feel included, greet them, and identify those who have contributed to the company’s success, among other things. Loyalty develops when your employees are invested in and feel a sense of duty that transcends beyond their regular work. Employee loyalty results from a commitment to the company’s future; passion and dedication will emerge if invested in its growth. 

 

Conclusion

 

Employees must also believe they must be motivated, devoted, and enthusiastic at work. As a result, avoid treating the personnel as a group and instead treat them as individuals. Try to learn about your employees’ ambitions and goals by holding meetings about their plans, goals, and dreams. Only then will you determine how to encourage your staff to prosper. It will benefit the company because happy employees build a successful organization.

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.

Term Corporate Culture

The term “company way of life” is omnipresent. It’s everywhere and anywhere. But that doesn’t suggest it’s easy to explain or describe exactly. Primarily, it outlines the whole surroundings of a company. Inc. mag brought a usually used definition: “Corporate way of life states the shared values, attitudes, standards, and ideals that describe participants of a business and outline its nature or behavior. The corporate way of life is rooted in a company’s goals, planning, structure, and processes to labor, clients, investors, and the different societies.”

Why is it Essential?

Every company has its vision for performance. Leaders and founders then improve a set of goals to achieve them. Employees offer a variety of skills and abilities. These factors form the best corporate culture that defines how a company does business and treats its customers. In every company, with the help of all employees, the culture is appropriately formed and communicated to everyone in the organization to achieve its goals.

The Role of Corporate Culture

1. Organizations with the best culture have higher employee engagement scores. Employee engagement is more efficient, directly affecting the company’s bottom line. Employees value when working in an environment with a positive corporate culture.
2. Optimal corporate culture reduces employee turnover. An excellent corporate culture is inclusive and respects the values ​​and efforts of all employees. Employees who don’t feel like they belong look for a job elsewhere. They may feel uncomfortable at work because the work environment is hostile or the corporate culture does not match their ideals.

Four Types of Corporate Culture 

The four main categories of corporate culture are as follows: We’ll take a closer look at each, but we’re not sure which is better or more successful. There are so many factors to consider that each business needs to decide which is best for them.

1. Clan culture  

The clan culture, also known as cooperative culture, is all about teamwork. Relationships, contributions, and business ethics come first in this kind of culture. Managers are considered employee mentors and guideposts instead of overwhelming “bosses” who issue orders without context or guidance and discipline those who make mistakes. This corporate culture aims to break down barriers and difficulties between management and employees. A very flexible and focused clan culture thrives on change and action.

2. Adhocracy culture

An adhocracy culture is all about innovation and risk-taking. Many successful startups are said to have such a corporate culture. It creates a business environment where employees are encouraged to take risks. Ideas that seem unconventional for a more conservative workplace are actively encouraged and pursued in the culture of the sanctuary. These companies have ambitious goals and visions. They are looking for the “next big thing” and willing to take risks.

3. Market culture

In market culture, revenue is paramount. The profitability of the company measures everything. Organizations that adopt this type of corporate culture are, first and foremost, result-oriented. The language often used in market culture is about achieving assignments and goals. It is competitive and attracts people who want to win. In the market culture, leaders are very demanding and expect their employees to perform well in a high-pressure environment.

4. Hierarchy culture

The hierarchical culture follows the old-style corporate structure and has a robust chain of command. Several layers of management are separated between management and employees. This type of company has specific work styles that include traditional standards such as dress codes and strict working hours. The company relies on stability and reliability.

Conclusion

Collaborating in a company that prioritizes sustainability necessitates a comprehensive approach, with results based on various sustainability factors. It should not be necessary to prioritize the multiple aspects because selecting between economic, social, and ecological sustainability is challenging. It’s all about that particular genre of music that the group must play to do brilliant things. Then, it could be best to review the company plan to determine if it aligns with the company culture you’ve established. You may always go with your intuition if you can’t locate your company’s culture in the outlined model or hear the choir’s composition. After all, it’s a priceless indicator of something we all have reference to.

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.

Transport tax is one of the property taxes you must pay if you have a car or other means of transportation specified in the law.

How Much Will You Have to Pay?

There are plenty of automatic services for calculating the amount of tax on the Internet. You can learn everything about your taxes in any region’s Department of State Revenue. There is a similar service on the websites of large commercial banks, offering their customers both to check for debts and to pay off the state through their Internet banking.

Owners of cars with an engine capacity of more than 3,000 cubic meters need to know: if owners registered their vehicle no later than December 31, 2013, the amendments with increased rates do not apply – tax is calculated and paid at the old low rates. You will pay the same rates even if you sell the car today or tomorrow.

What Happens if the Payment is Late or not Paid at all?

At first glance, the amounts charged are ridiculous. From the first day of delay, a fine will begin to drip. And if the tax payment is overdue for a couple of months – it is. But if the debtor shied away from it for five years, it can accumulate up to the exact amount of tax. Or even exceed it. For example, if a transport tax of $15,000 has not been paid since 2010, only the penalty for all this time will be $15,807.53 (plus paying taxes for the past six years). It is better to check the existing debts in the tax office in your area.

What Documents are Needed to Pay Taxes?

It is enough to know the VIN code of the car to pay the taxes. It is indicated in the registration certificate (SRTS) on the line “Body number.” In rare cases, local governments may ask the bank to present the registration certificate. If the car is not registered to you, then you need the IIN of the owner and the area where he and the vehicle are registered. This is important because if the payment goes to the treasury of another district, it is almost impossible to return or transfer the money. But the debt will remain.

Where to Pay Tax? Where can You do it Quickly?

Transport tax can be paid at all branches of second-tier banks, although some have a fee for this. Payments without commissions are accepted at Kazpost offices. Almaty car owners can also pay off the car tax and utilities; the payment receipt has a separate column with the calculated amount of tax for the car.

It is more convenient and faster to pay through the Internet banking of some banks if you have an account with them. You can make payments in minutes from your home or smartphone’s comfort.

What Happens with the Tax Paid?

No. When selling a car, the tax paid by the previous owner before the end of the year, by agreement of the parties, and in the presence of a contract of sale (exchange), which was reissued to the buyer, is no longer valid. Recently (since January 1, 2016), the tax has been taken only for the period you were the owner, by the number of months.

The new owner’s tax will be calculated when the car is registered, starting from the initial day of the month. If he “stands on the numbers” event on June 30, the tax will be calculated from June 1. Until the end of the year, he will need to pay only for seven months.

The previous owner, who paid for the extra months, will be able to return the money by applying to the tax authorities. Or he can offset the payment to him in case of registration of another car.

Who is Exempt from the Transport Tax?

In addition to agricultural producers, for the equipment used in production, and state institutions, according to the law, participants in the Second World War and persons equated to them are exempted from paying tax for one vehicle.

And one more important detail – the exemption from the tax applies only to one vehicle within one year. When buying another car, it is no longer possible to apply for benefits in the same year. Suppose an owner registered a vehicle for a beneficiary, and after a few months, it was deregistered. Tax breaks for him will appear only next.

What to do with Taxes if the Car is Sold by Proxy?

Regarding cars sold by proxy, not everything is so simple. Only a court can recognize a transaction (sale by proxy) as valid. However, at the same time, the seller cannot transfer the tax liability to the new owner. In other words, he says to whom the car is registered.

Borrowers must pay debts! Thus, to get rid of tax debts for cars sold by proxy today, you need to go to court, recognize the transaction as a fact of sale, and then go to the administrative police department where the car was registered to deregister it from your name. Only after deregistration will taxes cease to accrue.

The Car was Stolen (and They are Looking for it). Do I Need to Pay Tax on it?

You cannot pay tax on a stolen car until it is found. To do this, the owner must deregister the vehicle for the search period. According to the law, the deregistration of a vehicle that is not returned to the owner is carried out based on his application and a document issued by the Department of Internal Affairs that the vehicle is wanted. Suppose the desired vehicle is returned to the owner. Deregistration is carried out based on application, the absence of information about the search in the information resources of the Department of Internal Affairs, and the inspection of the vehicle. But if the car is not deregistered, taxes will continue to drip.

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.