Author: Complete Controller

Being a consultant means enjoying certain freedom, yes, but not only. Consultants sometimes want greater organizational flexibility for work, family, and leisure. This flexibility is pleasant and essential but comes with significant responsibilities. Without an employer to offer you an illusion of stability, it is up to you to build your wealth and plan for your retirement or financial freedom. Whether it is your expenses, your earnings, or your future, the solution is in planning.

It is occasionally hard to track down shared conviction among our kindred people; however, everybody shares one thing for all intents and purposes: We all need to be monetarily free. You may adore your activity, anticipate work each day, or resemble a large number of others longing for the day you can leave. Whatever the situation for you, I am willing to wager that accomplishing money-related opportunities is a fantasy you have had for quite a while.

So, being a consultant can allow more flexibility than as an employee, but it also means getting to know yourself, setting your limits, and planning for the long term.

Earning More, Spending Less: An Essential Balance

Do not confuse speed and precipitation. Money can enter quickly and well, especially in the early days, but freedom comes at a cost. The periods between contracts can sometimes be longer than expected. More extended periods are a difficulty that you must be able to cope with, and depending on your expertise, it can make the status of a consultant more uncertain. However, it is possible to organize well.

What if you started with the simplest? Evaluate your expenses and your income. Targeting your unnecessary costs and defining your actual needs is the best solution.

Then you can consider diversifying your sources of income. In addition to the direct revenue generated by your professional activity, you should be interested in so-called passive income: investments, real estate, or passive investing in companies. Demystifying these different options and adapting them to your situation is also part of online advice through webinars.

You can build your long-term vision once you have a contemporary, global, and precise portrait of your financial situation.

Aim for an Ideal and Realistic Amount to be Independent

Earn more, spend less to achieve what? The magic number. Behind this designation hides the amount that you consider sufficient to stop working and enjoy life or have the choice to continue. I notice clients who do not necessarily want to stop working but want to reach this amount to choose to work only on stimulating projects.

Your magic figure can be broken down into annual or monthly income so that you can set more realistic short-term goals. It may seem logical, but consultants do not take the time to calculate this amount.

My reasoning? If you know your magic number, you will find the means to reach it. Financial independence is freedom, planning, and a sharp vision.

Use Time Thoughtfully 

Time is an enemy or an ally. A day has only 24 hours, and thinking about your obligations, everyday life, and future is often a feat. However, have you never noticed that if you take the time to plan well before getting started, you will save time?

Let us take a concrete example: retirement. It is essential to start by saving. It is necessary to target the ideal solutions for you and determine the level of risk that you accept to tolerate. Regardless of age, it would be best if you continued viewing time as an asset. As you evolve, your needs and desires become clearer.

It is never too late to plan your retirement thoughtfully. The times will sometimes be shorter to get there, but you can put solutions in place to keep your magic number achievable. Do not hesitate to contact me or participate in my webinars to orient you, depending on the stage where you are.

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.

Many of the transactions we carry out today use a foundation of trust. We trust that when we leave our money in a bank, it’ll be kept safe. We trust that when we give a business our debit card. We conduct not just monetary transactions with complete trust; we’re also quick to share our data online. 

In a time when our data is more valuable than ever, it’s more necessary than ever that such transactions use a technology that can ensure our personal and financial security. Blockchain might be that technology. 

But What is Blockchain?

Simply put, a blockchain is a series of data divided amongst a network of computers. Network means that no singular computer can hold all the data on a blockchain at a given time, so if one computer in the blockchain network gets hacked or compromised in any way, the content on the blockchain (cryptocurrency, NFTs, etc.) remains secure. This decentralized network of dispersed information is what makes blockchain technology completely un-hackable. 

The Impact of Blockchain

Blockchain is still an infantile technology, but we’ve already seen the impact it can have on our daily lives as we advance. 

Cryptocurrency

Blockchain is the backbone of cryptocurrency trading, which saw a surge in popularity earlier this year. Bitcoin is experiencing a boom, and other cryptocurrencies such as Ethereum, Litecoin, and Dogecoin are also gaining attention. As more industries adopt accepting and using cryptocurrency, blockchain technology will rise. It may be a long way away, but eventually, cryptocurrency may become a standard means of exchange, even replacing paper money altogether. 

NFTs

Alongside the burst in mainstream relevance cryptocurrency trading has seen this year, NFTs have also been a hot topic. Nonfungible Transactions are essentially media stored and distributed over blockchains. If cryptocurrency is virtual money, NFTs are virtual products. The new medium has been prevalent in art, generating millions of dollars, but we’re yet to see its long-term worth in the general mass market. Some doubt the longevity of NFTs, but in a digital world where most of what we own exists on a screen, the idea of everyone embracing the technology isn’t so farfetched. 

Banking and Finance

Banks conduct hundreds, if not thousands, of transactions every day. With so many people and businesses relying on banks to keep their money and assets secure, it should be no surprise that the forces of banking and blockchain together would meet perfectly. By acting as a virtual, impenetrable ledger system, blockchains can make the banking industry more efficient and secure for data processing and transactions than ever before. 

However, other blockchain-based services may threaten the power banks have always held over the financial sector. Governments worldwide are already trying to pass legislation to regulate blockchain technology. 

Meanwhile, some banks partner with blockchain-based cryptocurrency services to survive what some see as a digital revolution of the financial sector. It’s difficult to say where precisely the financial industry goes from here. In terms of our lives, blockchains will allow our financial transactions to be more secure than ever. 

Crowdfunding

Crowdfunding has been a popular way for independent creators to fund their projects for some time now; by leveraging the generosity of various online communities. Successful crowdsourced projects have appeared in multiple industries, including music, movies, books, video games, new technologies, and inventions. The most successful crowdfunded project has been a smartwatch by the company Pebbletime. It raised over $ 20 million. 

The biggest platforms in the crowdfunding market have always been Kickstarter, Gofundme, and Indiegogo. Now, Pledgecamp is making a name for itself by announcing its intention to leverage blockchain technology in crowdfunding. According to Pledgecamp, blockchain will allow for greater transparency between backers and projects seeking funding; via intelligent contracts and letting funders see the step-by-step processes. 

Voting 

For years now, the modern democratic system has been a hot-button topic, with fears of foreign interference and vote rigging. Blockchain can ensure that elections are carried out securely by providing an incorruptible platform for registering, tracking, and tallying votes. We likely see blockchain technology becoming a standard tool in the election process. 

In Conclusion

There are many ways blockchain technology is changing the world. With digital security being a primary concern for many people, such innovation was inevitable. Although we’re only starting to understand how blockchain can help us, the promise of a safer future sounds excellent to look forward 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.

Inheritance comes under the category of state tax. You must pay this tax when you have wealth or have owned property from your ancestors. The beneficiary of the inherited assets must pay federal estate tax rather than the estate. In 2019, six countries imposed this tax even though citizens are exempt from paying this tax. Lowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania are those states. States’ laws change with time. You will have to check with your country’s tax agency.

Inheritance tax is a headache when we receive an inheritance. As a tax transferred to the autonomous communities, each sets different conditions. It means that you will pay for the same concept depending on where the deceased person has lived for the last five years. So, you do not get lost in this fiscal labyrinth, and we share a complete guide to the inheritance tax by communities.

Inheritance and Donations Tax

The Inheritance and Donations Tax, its full name, taxes the increases in equity obtained for profit. In other words, it is a direct tax: it applies to inheritances and donations received by natural persons. You must pay it in the first six months after accepting the estate.

How Does Inheritance Tax Work?

Before explaining the inheritance tax by communities, you must know how it works. The first is to calculate the tax base on the net hereditary mass. To calculate the absolute value of the goods and rights plus the household goods (for example, that table stretcher you never liked), you must subtract the charges, debts, and deductible expenses. For instance, you inherit a property with household goods worth $200,000 from your father but also a deficit of $50,000. Therefore, the net hereditary mass amounts to $150,000.

When the divided assets go to the beneficiaries, the concept of inheritance tax emerges. Each beneficiary separates the calculated amount of tax from the other. Hence, the tax payment becomes compulsory. For instance, a country charges a 5% tax for overall inheritance greater than two million dollars. If your grandfather leaves five million dollars in his will, you must pay only $3 million tax, which is $150,000. The country would need you to write this information on an inheritance tax form.

Reductions

Reductions can be applied to the tax base depending on the autonomous community, the degree of kinship, the nature of the assets, and other factors. Once you have calculated this reduction, you finally get the amount over which the percentage of inheritance tax by communities.

As a result of applying the rate, you get the inheritance fee. And although it seems incredible, the calculations are still ongoing. But do not worry, we will help you make them. Now it is time to apply the multiplier coefficients: they change depending on your assets before inheriting and your kinship group with the deceased.

What are Kinship Groups?

There are four kinship groups:

• Group I: descendants and adopted children under 21 years.
• Group II: descendants and adopters of 21 or more years, spouses, ascendants, and adopters.
• Group III: brothers, third grade (nephews, uncles), and ascendants and descendants by affinity.
• Group IV: cousins, more distant and strange degrees.

Once you are clear about the group you belong to and your heritage before inheritance, you cross the data in the table of Article 22 of the Law and obtain the multiplier coefficient that you must apply to the quota. We should see it with our example, in which you inherited a net mass of $150,000 from your father, which yields a fee of $31,875. Consider that you have an estate before inheritance of $90,000. If we cross the data in the table, we get a multiplier coefficient of one. That is, the quota is not modified.

Finally, now that you know how to calculate inheritance tax, it is time to see the differences between communities. Also, those with no relation with descendent will have to pay higher inheritance tax.

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.

In this case, pre-agreed financial protection or compensation is granted to the debts or relatives of a person if he dies under the circumstances.

Life insurance, therefore, has a personal connotation. It implies a desire to ensure economic stability for loved ones in case of the premature death of the contractor.

Life insurance is a tool that they consider necessary because, through this type of policy, their families would have a source of income that would allow them to exist in the absence of who contributes the payment to the family. It would protect them against debt obligations left by the deceased.

However, knowing the advantages and disadvantages of life insurance before buying one is essential, as there are particularities, costs, and risks that You should not take lightly. We will then explain what life insurance is and its advantages and disadvantages.

Types of Life Insurance

You can purchase life insurance in diverse types, coverage amounts, and conditions, as can be done with any other kind of loss or damage insurance in the market. In the United States, the varieties sold most frequently are Term Life Insurance and the one known as Cash Value Life Insurance.

The Life Insurance Cash Value characterized premiums will pay part of the insurance cost, but a part of the investment instruments attached grow over time. Products related to this type of policy include variable life, whole life, universal life, and paid insurance.

Despite minor differences, these insurance plans are the same. All Life Value Cash Insurance policies include a death benefit and a cash account when a customer makes a premium payment.

On the other hand, Term Life Insurance is significantly different from the previous rate. It is the most basic of all existing life insurance.

In this model, the interested party chooses how much the policy’s coverage will be and how years it will be valid. You can hire policies with a duration of 1 to 30 years. In policies equal to or less than five years, it is possible to renew it for longer when it expires or change the amount of economic coverage.

In Term Life Insurance, premiums will only pay the cost of coverage. As the name implies, it only covers a specific time. If a term life insurance policy expires before the contractor dies, it must acquire another approach to remain covered.

Advantages of Buying Life Insurance

Both cash-value life insurance and term life insurance have their advantages. In the case of Cash Value life insurance, the most important benefit is its ability to offer coverage throughout the life of the insured, which is remarkably interesting for young people with families in training or adults in full productive age.

In fact, in the United States, young people must acquire these policies, taking advantage of the durability advantage of this type of insurance. Young people get insured because premiums will be ridiculously cheap in a youthful and good health contractor, even if you choose a significantly high coverage amount.

For example, buying insurance with high coverage in the United States with initial monthly premiums of just US $20 to US $30 is possible.

In this case, one of the advantages is that with this small monthly expense, an individual could protect his family at the time of death and must cover financial debts acquired over the next 2 or 3 decades for things like purchase loans of vehicles, mortgages, and payment of education of their children.

In addition, cash value accounts linked to these insurances may also be subject to partial withdrawals or collection during the policy term, which gives a possibility of income for the insured at any time they need it.

Another advantage is that the insured pays taxes on interest or earnings attached to the cash value accounts of these insurances. Finally, companies and entire families can buy these insurances for all their members.

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 budget is a vital source that helps you organize your finances well. Budgeting lets you track your expenses and learn how to save your money. You must know how to develop your budget well and how it works. So, here we go by defining what a budget is.

What is a Budget?

A budget is a company’s plan of operations and resources; you can also express it in monetary terms.

Preparing a budget allows companies to establish priorities and evaluate the achievement of their objectives. It also serves to do the projects with the required advisors, always looking for new alternatives.

An important aspect is that they are beneficial when measuring and reducing risks. As a result, you can review the tactics and policies taken by the companies.

Here you have a video that you will indeed find extremely useful. Benefits and limitations of making a budget. You can find four great benefits when planning and making budgets:

• It facilitates the fair use of resources.
• Provides efficiency in operations
• It helps to achieve the proper planning of the companies.
• It shows precise results.

However, budgeting helps run a business, which is not all. It also has limitations because they are estimates on projections, and if they do not do this well, no results will benefit.

We must remember that budgets should constantly adapt and update, or we could risk throwing all the work away.

Main Characteristics of a Budget

A budget must comply with elements. These characteristics must be well defined and specified so that the work plan of superior results allows order and control.

It must be inclusive. Inclusivity indicates that it considers all the areas and activities of the company. They are directed to each of the regions to contribute to the achievement of the global objective.

It is indisputable that the plan or budget of a company’s department is not functional if you cannot identify it with the total objective of the organization. This process is known as the head budget, formed by the different areas that comprise it.

Help coordinates. It means that the plans for the company’s departments must be prepared jointly and harmoniously.

In monetary terms, you must express it in monetary units.

Specifies the Operations: One of the budget’s primary objectives is determining the income. It aims to obtain as well as control the expenses that are going to occur. It would be best if you elaborated on this information most straightforwardly.

Resource Planning: It is not enough to know the income and expenses of the future. The company must plan the necessary resources to conduct its operation plans, which is achieved with financial planning that includes:

• Cash Budget
• The budget for the addition of assets

The Best Way of Using the Budget

Track your monthly expenses after setting up your budget. Use a budgeting spreadsheet or app to calculate your expenditures and total income. Your daily records will prevent overspending and let you identify unnecessary spending. Remember, you must keep all your expenses equal to or lower than your monthly income.

Budgeting Tricks

Personalize your budget as per your financial aims and situations. So, here are beneficial budgeting tricks.

1. Being aggressive in saving during the market is slow to help cover time.
2. If a monthly payment person has cash flow issues, they should pay all dues every week. You should save the remaining cash in a separate account for later in the upcoming weeks until you require it.
3. Try to use budgeting hacks like switching to a cash-only budget. You can overspend this in specific categories.
4. Make your budget by considering your saving goals before you increase your expenses. It can only happen when you try to reduce your expenditures than your income.

Learn financial skills to boost your business education. It will help you in earning money and encourage you to work hard.

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.

For some, it is a childhood dream. For others, a New Year’s resolution. Buying your first home is one of life’s most personal decisions; as such, you should take it easy, especially if you are abroad and want to invest in Colombia. How to recognize the moment to take the next step? Here are five questions that you must answer with sincerity.

Do You Have the Necessary Qualifications?

Buying your first home requires financial, work, and emotional stability to commit to becoming an owner. The scenario changes depending on the time of life you are in and your intention to buy, so the path of a single person starting his career will be different from that of parents who have been saving money for years to fulfill their dream. Financial and labor stability are two essential components in the equation; since they depend on whether the number saved for the down payment is sufficient. Moreover, you have the necessary income to access a mortgage and an additional fund to face the costs associated with the purchase: taxes, insurance, and repairs.

Have You Contemplated All 

If the conclusion of this evaluation is not satisfactory, you can contemplate other alternatives, such as housing leasing. Leasing is an option in which the bank owns the property; hence, you pay a monthly lease fee for a specific time, and in the end, you can exercise the purchase option for a previously agreed value. Furthermore, it is still not enough if you already have an amount destined to buy your first home. You can believe in preconstruction, which allows you to separate your home with 5% of its total value and finance the rest of the initial installment in installments from 3 to 24 months.

Why Do You Want to Buy Your First Home?

The motivations of each buyer are different, as are the roads they must take to reach their goal. It is not the same to buy your first house with the idea of ​​living in it or that your relatives in Colombia do it, to do it as an investment, and even these two purposes include variables. Do you want to benefit from the value of your home to earn money? Are you looking for a property that you can rent and eventually use? Or are you preparing to return to Colombia? Your purchase intention will be the road map to choosing a property with the right size, location, features, and price.

If this is going to be your home or that of your family, living in it for at least 3 and 5 years is advisable to avoid losing money with the costs generated by the sale and a new move. If you are a Colombian abroad, your goal is to invest in further development to benefit from their profitability. If you want a safe place to rent while you return, you must ensure that the area of your potential home is attractive, along with good demand and recovery potential.

Do You Have the Help You Need? 

In addition to examining conscience and wallet, buying your first home requires research, paperwork, and clear information to avoid surprises. Good advice from experts in the field can make significant differences when investing in these dimensions: find the property that suits your needs and expectations, the credit that benefits you most, and an accompanying principle so that the process is simple and agile. Moreover, you must acquire the right workers to do the job for you! So, search well before you go through with it.

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.

For the past few months, the universe has been confined. De-escalation levels have evolved in separate ways, and although it seems contradictory, this situation has encouraged people to create their future. The lack of opportunities and the alarm situation produced by the coronavirus caused businesses to reinvent themselves.

You also want to try your luck and start an adventure. Check out these five profitable business ideas that respond to market trends to envision the sectors with the most significant growth potential.

Five Profitable Ideas to Start a Business 

Quality homemade food at home

The first of our profitable businesses is fast food, a lifestyle we can no longer run. It is the answer to the dynamics of work and rhythm of life that has been created, especially in large cities, in the last decade. However, the arrival of the coronavirus has forced restaurant businesses to have home delivery and collection services on site. Until now, it has been the only way they have had to survive. On the other hand, localization apps, search engines, and the digitization of businesses themselves have been vital to adapting their firms during confinement and the new normal.

Organization and supply chain

According to the Nielsen consultancy, online purchases have increased by 86% and have reached one million households. There has also been an increase in demand for e-commerce companies such as Amazon, which has announced that it will hire 100,000 more workers in the United States due to the rise in orders.

Opportunities to do profitable businesses such as 5G, IoT, blockchain, and robotics have also been identified to help link multiple buyers with suppliers reliably through a ‘mesh’ of supply chains.

Sell ​​second-hand items

The key to these profitable businesses is accumulating a stock with a face and eyes and exposing it as if it were a new product. That is, do not accept any item or display it in any way in the store because you cannot sell it, and it will scare your customers away. For example, if, as a customer, I go into a second-hand store thinking about buying a television and see a row of televisions from when my grandmother or mother was born. Not interested in buying it even if they sell it to me for one dollar because it is not practical for my needs. Selling televisions 5 or 7 years old for about $200 or $300 is preferable. Then yes, I would buy it since a similar TV from Firsthand would cost me %500 or more.

One of the problems that accompany this business that makes the profitable companies of 2020 related to security is the control of illegal practices. These businesses will resell the stolen product. That is, you need proper protocol; When you buy an item from someone, this item becomes part of a list sent to the police. During the following 15 days, you cannot sell or display the thing until the police check that none of the products on the list match the object’s description.

Franchises

Having a franchise is a step with a little less risk since you have the advantage of opening a business that already has a reputation. It is easier to start generating sales and profits quickly. In addition, to buy a brand, making an excessive investment at the beginning of the business is not necessary. There are different alternatives to finance yourself, and, most importantly, the brand provides you with initial capital in cases. On the other hand, the most apparent disadvantage is that you do not have total freedom in organizing the business; There will be guidelines that the brand in question asks you to follow, especially concerning the company’s image. Keep reading more about profitable companies.

Legal consultants in digital interactions

Another growing sector is Legal Tech, which is why it deserves a position on our list of profitable businesses. Due to the number of digital companies that are growing at an unstoppable rate, they need technologies, software, and legal advice services.

If you work in the legal sector, one of your opportunities is as a digital legal advisor. There are also opportunities to help companies deal with the Right to be forgotten on the Internet, communications, or data processing.

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.

In our daily lives, the assistance of professional advisers plays a crucial role in the effective management and decision-making process. We rely on lawyers to clarify legal questions and tax advisors to help us with the complexities of VAT returns. However, in the past, the importance of seeking financial advice from a trusted advisor regarding the investment of our hard-earned savings was often overlooked. Such advice is invaluable in achieving our long-term financial goals and securing our economic future. Therefore, it is highly recommended that we seek the guidance of a qualified financial advisor to ensure that we make informed investment decisions that align with our objectives and risk tolerance.

According to magazines, the leading company in financial advising, hiring an independent finance professional ─ without linking to financial entities─ is an upward trend that can have multiple benefits for the personal economy. Here are the main advantages:

Objectivity in the Information

The only interest of the consultant is to look for the best product or plan since it has no other interest than to benefit its client. Being free of the conditions of a financial institution, the advisor can, based solely on the client’s circumstances, offer the plan that suits him best.

We independently analyze multiple investment options in the national or international market to make the client a unique investment proposal according to their objectives.

 Global Analysis of the Economic Situation

The independent professional focuses not only on the investment but on the general financial situation of the client. “We are a kind of ‘financial doctor.’ In the analysis of the financial health of the client, there are multiple analyzes. We study the life of the patient globally, the investor. We are not a buyer of products, nor a broker, nor an investor to use, but an adviser of the life of our client in the economic field that acts with previous knowledge of his family situation, the children, his expectation of future expenses, studies”, they indicate from the company. 

Multi-Year Tax Planning

When the end of the year approaches, all of us are in a hurry to optimize the income statement that we will have to present in June of next year. Invite the client to be abstract from this slavery of the urgent and plan what is essential, providing ideas, strategies, and advice so you can make a tax planning of your savings income, not only for this exercise but in a natural way and consistent, extended to years.

Acquisition of Low-Cost Financial Products

For an efficient negotiation, personalized analysis of each client is essential, and establishing a “global negotiation” with the financial entities. This negotiation entails studying each item, intermediation commissions, and transfer expenses. “With this, we seek to have more negotiation strength if we join more clients, resulting in a reduction of” bank costs “with an average of more than 50%, and thanks to this intermediation, the portfolios obtained an increase in yield of 0.50. % Annual. “, explains from the company.

Exact Control of the Expenses of Economic Management

Often, investment decisions are conditioned by what we read in the news or by the comments of friends and acquaintances. As mentioned in famous magazines, the reality is that most people do not have a plan about what they want to do with their savings.

“From the EAFI Independent Financial Counseling Company, we guide clients to set their objectives and help them fulfill them. It is about drawing up a long-term plan that is frequently remembered.” This plan includes a situation about the current value of our investment assets, the expenses and the possible financial costs of today and tomorrow, their future evolution, and how our heritage will respond to the current and expected level of life, “the experts declare.

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.

Whenever a business venture is possible, the masses typically focus on the business and ignore how they would do it, i.e., the business plan. Planning is a critical factor whenever we consider business. From SWOT analysis to strategic planning to goal setting – every aspect of business planning plays an essential role before starting a business. Knowing the importance of planning in a business is crucial to consider the advantages of planning.  

Firstly, planning helps a business venture to foresee the future. That gives an incident a better picture of the product, market, and targets. It further allows an experience with investment analysis and how You should break down the investment. It stems from the idea of SWOT: where planning a venture’s strengths, weaknesses, opportunities, and threats are analyzed. More importantly, strategies help smaller experiences create a distinct set of identities to help them make a target for their product. Smaller ventures, in some instances, must tailor their products to target a specific niche instead.

Importance of Planning

Planning before starting a venture helps set goals, which later sets the priorities. It would revolve around the allocation of time, effort, and resources. Moreover, a successful business organization can adapt to change and have leaders who can cope. Therefore, having to plan – creates strategies that eventually give an organization a leader who can manage change. An organization that can cater to change is better adaptable to change in its surrounding but is more global.

When discussing planning, we also must consider that good planning leads to better accountability. You can compare the planning results alongside the actual performance, leading to better accountability. The results can vary from being over-satisfied to being utterly disappointing. Still, no matter the circumstance – the tracked result is because planning always helps in the growth of a venture.

Planning helps whenever it comes to monetary issues. As a business venture deals with the idea of profit and deals around investment, expenditures, and assets, it is essential to plan how the cash would flow. It helps in inventory management, profitability and would help in predicting a potential loss. Therefore planning how the cash flows help manage the cash and, in turn, benefit the organization monetarily.

With planning, one can achieve strategic alignment – the day-to-day workflow matches a venture’s tactics that eventually suit the strategies. It would help plan a daily workflow within an experience that would help set a schedule and task list for employees, helping an organization grow or achieve its main aims.

 

I am Setting Up and Achieving Milestones

As mentioned, planning helps set goals and eventually achieves the objectives – a milestone. You can plan these milestones against conditions – long or short. Reaching them would help boost a company’s performance and create employee satisfaction. The more satisfied the employee is – the happier they make the customer. The more comfortable a customer is – the happier they are. The more delighted a customer is – the better they trust a business venture and trust an experience – the more a venture grows.

The number of sales, the amount of web traffic, and the number of calls are potential milestones. They may help drive employees to achieve milestones but do not function as milestones. It means that to reach a crossroads – a premise must be set for it to be a metric, and only You can measure it. X number of satisfied callers would be a milestone only if it were planned that in the upcoming year, the venture targets to have Y number of satisfied callers where Y < X. Had the metric was not set up – the milestone would not be achievable.

Lastly, there are tasks that a business venture undergoes daily – be it client-based or management-based. In that occurrence, priorities must be focused on. A loss of importance would result in a loss of quality and, in turn, affect the venture. Therefore, planning helps set up regular reminders that help focus on achieving an organization’s priorities.

To summarize, having a plan before starting a venture is recommended, but it is highly effective. Careful planning is essential when an organization can operate globally from a microscopic scale. It could deem better results than a venture poorly planned.

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.

It is essential to introduce digital technology for the betterment of your company. It not only helps in brand recognition but also helps in customer building. The more famous the brand is, it will create more awareness in the customer base. Once people start recognizing your brand, they will come rushing to make a purchase. It would help if you started using digital technologies to attain a distinguishing factor in brand recognition.

Propose Quality Content Wisely

Faced with the increasing use of innovative technologies and the possibility of consumers accessing brand content, companies tend to increase content publication on all platforms. However, this marketing strategy may prove counterproductive, which aims to be omnipresent in customers’ minds and offer them content adapted to the context. Internet users and mobile users are increasingly solicited and drowned in the mass of information addressed to them (mobile notifications, textual and visual content on Facebook, Twitter, Instagram, and all networks, and advertisements of all kinds).

It is a matter of considering that consumers use supports (including their smartphone, their PC, and interactive kiosks in stores) in their purchasing process. It becomes more difficult for a company to stand out in this context, and consumers tend to ban brands from polluting their news feeds or mailbox. Therefore, the vital thing no longer becomes to produce “chain” content, but to use the various digital strategy tools sparingly, to focus on the quality of communication and information to be disseminated. Such content will be more likely to interest consumers and increase their engagement with the brand.

Human resource management, therefore, becomes another major issue: you must identify the skills the company needs and find the talents that have them. Also, marketing teams should have knowledge of the technical language and the use of analysis tools, the specifics of each digital medium; indeed, even if they are not the ones who will conduct the development, they must be aware of the opportunities that digital offers them and the technical obstacles that they will not be able to overcome. Solutions are then available to companies: recruit digital marketing specialists. They will join the current marketing team, conduct training to update their knowledge, or go through providers, for example, to develop a mobile application.

Also, the choice of influencer must depend on the target audience, its popularity, and the quality and frequency of the content it publishes. It would be unwise to collaborate with an ambassador who is a fan of the brand but does not produce sufficiently interesting content or does not concern the company’s customers and prospects.

Use of Technology

Employees must understand that the technology used on work premises is for work and to learn related purposes. Laptops or computers may be assigned to individuals, but it is not intended to be used as a personal device in nature, like,

• We share photos, music, video, audio files, and more.
• Gaming and installing them is not accepted or appropriate. You should not use the internet for gaming or participation in contests.
• If you practice all that, you may lose the precious storage space you could use for work-related documents and files and their actual purposes.

If you are unsure, ask your supervisor or manager to help you understand the use of your device. Since different companies and workplaces have other work policies and rules, it is appropriate to ask the team leader.

What if our interactive terminals allow you to take your digital communication into a new dimension? Building a solid brand image and enhancing your client portfolio are classic goals for managers. Today, the internet is a powerful medium for accomplishing these missions, regardless of the company’s size and specialties.

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.