Accounting 101: What Will the IRS Do If Your Small Business Files Late

Not every small business has the luxury of having an employee with a bachelors of accounting, but it would be good if they did. Taxes are one of the most difficult to understand aspects of running a business and, believe it or not, one small error can translate to huge losses. Perhaps your bookkeeper plays it down, but the point is, taxes are not joke. You must file and pay on time. What will the IRS do if you file late? You might not like the answer!

Failure-to-File Penalty

It doesn’t take a bachelors degree in accounting to know that the IRS can, and usually will, impose a penalty for filing late. What you may not know is that failure to file on time typically carries a larger penalty than failure to pay on time. Many business owners find that a bit odd. Why would Uncle Sam give you a stronger penalty for being late filing than late paying? The answer to that isn’t clear. It’s just the way it is.

What Kind of Penalties Are Imposed for Filing Late?

Every business will be penalized individually, based on the taxes owed for that period. This is because penalties aren’t set in dollar amounts but rather as a percentage of taxes due. Here is where it gets a bit sticky. The usual amount of a penalty for failure-to-file is five percent of unpaid taxes. That’s why every business will be assessed a different amount. However, if you’ve filed late and have as yet not made final calculations, there is no way of knowing what you will be assessed. Also, you will be assessed that five percent penalty for every month your return is late.

Failure-to-Pay Penalties

On top of failure-to-file penalties imposed by Uncle Sam, you will also incur failure-to-pay penalties because, obviously, your return will be late. This penalty is equal to one-half of one percent of the total taxes you owe. However, there are ways to avoid the failure-to-pay penalty if you understand what’s expected of you.

Timely Requests for Extensions

Most often, small businesses file taxes in much the same way as individual payers. This is often because they operate from their homes and have formed an S Corporation. If you are new to filing a small business return and need that extra time to sort through deductions and itemizations you can claim, simply request a filing extension. If you can pay a pre-specified percentage of what is due and ask for an extension timely enough, you may not be penalized.

Unfortunately for most small businesses, business and individual taxes are calculated differently. If you are not up on corporate taxation, you just might be filing or paying late. Rather than being assessed a penalty, why not hire an accountant to help you meet the requirements of the IRS. Whether you choose to get a degree in accounting yourself or hire someone well-versed in tax law, the one thing you can be assure of is that the IRS will impose a penalty for late filing of business returns.

 

Checkout Unique Finance and get a bonus from me.

Social Trading the New Way to Trade Stocks

Worldwide Global Unity Social Gathering Community Concept

Become a follower

If you like how somebody trades and find that helpful, you can choose to follow him or her on social trading platforms. You will be able to see their moves and activities at all times. Hence, you get a chance to learn from experts. You can even ask for guidance if you don’t understand something.

Always follow traders, who are rated positively by the community. This allows you to learn rapidly. However, as these communities have thousands of members, your questions will not be answered all the time. At least they share information, which is more than useful.

Private messaging

You are connected to millions of users, from whom you can learn a lot about trading. If you follow a trader who appears to have an erratic trading behavior, you’re entitled to ask questions. You can employ the same charts they read and predict price movements. Keep track of your progress to see if your judgement is better in comparison to the traders you follow.

Information access

Social trading offers the best environment for traders to get better, especially beginners. It would take a lot of knowledge and experience to acquire the significant and synthesized info and data delivered by these platforms. Due to the constant flow of information, social trading platforms allow traders to start trading and confidently make financial decisions with all the right moves.

Help other traders

Experienced and successful traders can help others in the community. Sharing on social trading platforms means valuable information delivered for the benefit of  interested traders. It’s a way to   give back to your community and help others too.

Social trading for beginners

  • Pick popular investors
  • Follow, learn, and even try their trading methods
  • Monitor the popular investors’ ongoing performance
  • Interact with veteran traders for useful tips and suggestions
  • Control your trading emotions

 

Gaining More Control Over your Investments

Investors can gain recognition as successful traders by joining these social trading sites. You may have felt before that social trading sites can be stiff and boring. Absolutely not, this is not the case here. It is a  very alive community with common goals: helping one another to  trade with excitement and efficiency. It does not matter if you desire to share trading experience or learn trading strategies, this is the place for anyone who likes trading.

 

Checkout Unique Finance and get a bonus from me.

Bit Coin The Next World Currency

 

With internet technology expanding every day it is hard to keep up with the innovative software that keeps popping up on a regular basis. Although Bitcoin was first introduced in 2009; it is still a relatively new player in the online payment system. What makes this internet payment network so special is its uniqueness. It makes it possible to transfer Bitcoin currency from one peer to another quickly and effectively. The processing fees are very low and you can make worldwide payments in minutes. It sounds like we better explore this a little bit further.

 

It is a digital currency that is bought, sold and transferred between fellow users of the same payment network. The process begins when the prospective member downloads the software to their computer or phone. Once you have completed this process you will receive a Bitcoin address. The address is used to send you payments for goods or services rendered. This currency can also be bought on a market exchange. You can sell your bitcoins at this exchange as well.  The unique thing about this payment network is that the currency is decentralized. It is not owned or controlled by any bank or financial institution. It is not insured by the FDIC. It is open to anyone that wants to become a member. More and more merchants are accepting this digital currency for their goods or services. There is no risk and the encryption process is very effective.

 

 

You install a wallet on your computer or phone. You receive your new IP address. Then you begin accumulating bitcoins through purchase or transactions. All transactions on the payment network are stored in a Block Chain, which is nothing more than a shared public ledger. Bitcoins are transferred instantly and is verified mathematically by the network. Currency is transferred from one wallet to another quickly, safely, and securely. The Bitcoin mining process is where the transactions are constantly stored in the block chain and then verified by the computer.

 

 

The Bitcoin payment network has been around for a while and it is an interesting way to send and receive payments. As more merchants jump on board with this program you will hear more about the Bitcoin system. It may not be as familiar as some payment networks on the internet, but it has the potential of growing into something special. The setup is easy and as long as you know merchants or others that use the network you can find some nice benefits in using this system.

 

bitcoin-facts-infographic

 

Checkout Unique Finance and get a bonus from me.

How SEO Can Transform Your Business

Search engine optimisation, also known as SEO, is an area of digital marketing that many businesses do not know much about, and if they do know about it, then they’re unsure what the best practices are and the best ways to use it to really help their business to grow. In fact, SEO can have an extremely important impact on a business as it can not only help them to improve their brand’s exposure, it can ultimately help to generate leads, drive conversions and make money for the business, while building trust and relationships with consumers. With digital marketing agencies and leading experts like Ben Austin and his site ben-austin.co.uk, there are a number of people who recommend using SEO to help transform your business. Here, we’re taking a look at what SEO can have an impact on for your business and why you should consider investing.

Page 1 Of Google SERPs

When people are searching using Google or Bing as a search engine, the pages that are shown (1, 2, 3 etc.) are known as search engine results pages. When people are looking for a certain service or product after typing a certain keyword in the search bar, they’re going to want to see the most relevant result and ultimately to find what they are looking for as quickly as possible. This means that users will generally not search further than the 2nd page on Google, and will often research until their results appear on the first page of Google. This is where SEO helps. Your business can reach page one on Google for a number of key terms relevant to the services and products that you offer, meaning you’re likely to get more customers visiting your website and ultimately converting.

Brand Exposure

If your brand is prominent on Google, the likelihood is, more people are going to know about your brand and start talking about you more. Brand exposure is particularly important for all types of businesses when it comes to their marketing strategies, and SEO can help to get your brand’s name out there as much as possible.

Generating Web Traffic

Once your website is at the top of Google search results pages, you will find that your website traffic will increase dramatically. The more traffic that ventures onto your site, the likelier it is for you to start generating more conversions and ultimately helping to increase the amount of revenue your site is making. While there are a number of ways that you can pay to get to the top of Google, such as through re-marketing, PPC and lead generation sites, SEO provides a totally organic way for your business to reach the top. This helps to build up trust for your brand, ultimately leading to loyal customers.

Keeping Content Fresh

A major part of SEO and an influential tactic is to keep content on your site fresh, whether that’s through adding more product pages onto your site, or regularly updating your blog. While this is generally in order to keep Google interested and re-indexing your site on a regular basis, regular, informative and high-quality content is also important to attract customers. These types of blog posts, articles, pages and white papers can help to capture your audience, and lead them to trust your brand even more, ultimately leading to a sale in the future and potentially even recommendations.

 

Checkout Unique Finance and get a bonus from me.

I T Trends Are Leaving Their Mark on Cloud Strategies

Organizations and enterprises have realized that they are spending a lot of energy, effort, and time as well as management bandwidth to create IT infrastructure whereas it is now readily available for their use. As a result, more and more companies are turning to Cloud services that offer flexibility and scalability at very affordable costs.  Doing away with the need for any infrastructure development means saving money. IT practices have changed drastically ever since the introduction of Cloud computing, and now the market is ready to witness a new wave in Cloud computing consisting of private, public and hybrid Cloud services.

Enterprises are now feeling the heat of competition and desperately looking for scaling up their computing resources that would enable them to serve customers better. It has led to the rapid adaption of the Cloud environment with 38% enterprises getting ready to build private clouds while another 32% rely on public cloud services that they procure. Indeed, the most attractive option seems to be the hybrid cloud with 59% enterprises going for it. In an attempt to keep pace with the demand for cloud services, the big players like AWS, Google, Microsoft, and IBM are gearing up to attract big companies by rapidly adding new data centers to the existing facilities.  The emerging trends in cloud services NYC will become clear as you go through the rest of this article.

The shift towards co-location services

The trend of co-locating data centers is on the rise. Co-location is the practice of using third-party data centers for housing networking equipment and privately owned servers instead of putting it up on own premises. Renting space at a co-location center is the latest trend among companies that find advantage in the system as they are relieved from the uncertainty about which cloud service would be best for them.

Besides renting out space with a higher level of physical security, the co-location provider will also provide the power, IP address, bandwidth and cooling systems that would be necessary for proper deployment of servers. In addition to the benefit of economies of scale, the managed data centers offer better connectivity with far lower network latency that enables companies to avail various SaaS and public cloud services. The arrangement gives businesses the opportunity to adopt a multi-cloud strategy and to test services of different Cloud service providers before deciding on the most suitable one.

Hyper-converged infrastructure for private cloud

Although organizations prefer to place data in the public cloud for its flexibility, lower costs and better security, not all CIOs are comfortable in sharing with a third party, sensitive business data and customer data. The reservation of CIOs in confiding in third parties with sensitive data is pushing organizations towards private cloud services that require advanced virtualization, automation, standardization, resource monitoring and self-service access just in the same way as public clouds. Creating a cohesive system by collating the capabilities is expensive and can be quite daunting.

The solution lies in going for hyper-converged infrastructure solutions that provide a software-centric architecture that acts as the binder and holds together storage, computes, virtualization and networking resources along with other technologies in a commodity hardware box that the vendor provides. Hyper-converged infrastructure provides the foundation for private cloud development especially for new workloads that require automated scale out at a rapid pace. You can add as many boxes as you like to enhance the pool of resources.

Improved spending on cloud services

Cloud vendor management is a complex area and containing the cloud cost can become quite challenging. It is particularly true for organizations that make use of multiple cloud providers. The numerous offers related to consumption plans and cloud service pricing from Cloud service providers add more complexities to the task of CIOs who are already having their hands full. Hiring a dedicated person to choose cloud contracts and undertake negotiations is a viable option that many organizations follow. However, with experience and exposure to better practices and by using cost management tools, IT executives are now able to derive better cost benefits.

Public cloud is hosting enterprise apps

It is no more a taboo for Chief Information Officers (CIO) to keep enterprise applications away from the cloud. They have become more comfortable in using the public cloud for hosting critical software as would be evident from the trend of hosting apps in AWS.  Business apps like SAP and other analytics software also have found a host in AWS, which is a clear indication of increased dependence of CIOs on the public cloud. Organizations can exploit the ability of the cloud in providing enterprise data that gives better insight for turning great ideas into software.

  Companies taking advantage of migration services and rewriting applications to move it to the public cloud

Checkout Unique Finance and get a bonus from me.

SKYPE Alternatives and What You Should Know

 

Skype could be a good idea if you are completely out of sync with modern technologies, but could it be trusted for your private business communication? There are at least 8 alternatives that are a better idea.

This is a voice-focused alternative to the popular app which is going to bring a significantly professional edge to the VoIP of business. The app places a significant emphasis on security and also on the ease of use. It’s centered towards voice calling, conference calling, and texting.

 

This is another option which is going to enable you to properly service your customers with a range of different intuitive features as well as clean interface that’s rather squeaky. It’s a VoIP application with the entire bundle of comprehensive advantages.

 

Regardless of whether you are a startup, entrepreneurial or a growing business or a large corporation, this is the phone service that you are looking for. It’s going to provide you with a tremendous amount of flexibility as well as affordability and reliability.

 

If you are looking for something that’s all about VoIP, you’ve stumbled upon the right app. This is a fully-featured call service which can handle a conference of up to 500 people. It’s also going to present you with a range of other functionalities such as the ability to send as well as to receive faxes from your own account and to integrate it with mobile apps and others of the kind.

 

The VoIP solution of the app is without a doubt a great way to simplify as well as to localize the way that you connect with your customers. From providing you with a centric local phone number in as many as 30 countries to cascading the phone calls, this is definitely something you can benefit from.

 

This is a scalable as well as robust mobile messaging solution which is specifically designated to help business of different and versatile sizes. Regardless of whether you are a team of 5 wedding planners or of 10,000 employees, this is the app that can get you connected.

Now, Zoho is a bundled offering which delivers a range of comprehensive solutions. From a CRM to Calendars, you can rely on a range of interesting apps. Zoho Meeting is definitely a great alternative to Skype, considering the features that you can integrate it with.

 

This is an app which is all about arranging a range of different meetings and making the whole process particularly easy as well. You will be capable of meeting up to as many as 25 different people.  As you can see, there are quite a lot of different alternatives to the old-school and out of sync Skype.

 

Checkout Unique Finance and get a bonus from me.

Search Engine Psychology: Understanding Users and Creating Effective Content

                                   Understanding your Target Audience

Before you can create material your audience will be interested in, you must know who comprises that audience. To do this, you must dig deeper than your preliminary assumptions regarding people who want to buy your products and services. This is accomplished in two ways:

  • Conversations with existing customers
  • Consumer market research

Find out from existing customers/followers/fans what it is that attracted them to your business rather than a similar one out there. Learn what their pain points are, and the things they’d like to receive from businesses within your field. As you engage with them this way, you will identify common patterns in the backgrounds and behavioral motivations of your audience.

Categorize people with similar traits as your personas. The personas will help you determine ‘why’ customers behave a certain way. Use information collected on customer pain points and backgrounds to build persona biographies, which will bring your ideal consumer to life. Create flows through which each persona can interact with your site.

Creating content that has an impact

Content today takes a variety of forms; it’s no longer about the text. You can use videos and images to attract the customers’ attention, two content formats that are extremely compelling in today’s digital world. The brain is wired to interpret visuals, and can understand images up to 60,000 times faster than textual content.

Including images of real people/customers in the business can be great assets in drawing potential customers to build relationships with your brand. The customers relate to the people in the image, viewing themselves as the customer.

Video content is also becoming increasingly important as a digital content marketing technique. A research by Forbes has shown that over 50% of senior executives prefer to watch a video than read text where both options are available.

Videos amplify the benefits and upsides of images to customers – rather than just seeing past customer, they get to hear them speak, which deepens their connection and understanding of the brand. To know more visit Choc Chip Digital.

Conclusion

Once you have created your content, you may optimize your content. Every year, Google makes around 500 tweaks to its algorithm; you cannot keep up with that if you tried. Rather than looking for the latest SEO trick, provide the one thing both users and search engines want: relevance.

Cut through the extra flesh and provide content that the intended persona would find both useful and engaging. Look beyond the basic keywords to answer intent – searchers no longer use a word or two to find something they need. Majority of queries today are raise in form of questions and long phrases. Be sure that your content addresses a specific question or topic within your niche.

Checkout Unique Finance and get a bonus from me.

How to Start a Successful Fintech Company

Starting a fintech company has the potential to become a lucrative venture. However, for every successful fintech company, there are many other similar businesses that fail. To avoid this situation, you should follow the tips below so that the fintech business you establish has a much better chance of succeeding.

Education and Training

Before you start a fintech business, you need to understand how business and finance work. In order to build this foundation, you should complete a relevant finance-related course, such as the online master of financial economics degree program offered by universities like Ohio University. An online MFE degree or similar course will equip you with the financial and business skills and knowledge required to become a leader in your chosen fintech area.

Focus on Your Goal

Today, there are many different types of Fintech businesses you could start including companies that deal with financial billing, payments, financial advice, business tools and integration with other financial systems. Unfortunately, many entrepreneurs jump from one business idea to another and eventually end up going around in circles and never achieve anything in their business careers.

To avoid this situation, you need to stay completely focused on the idea you intend to turn into a fintech business. The more you focus on your business idea in this way, the more you will understand the area you intend to work in and the more likely it is that you will eventually develop a much stronger, more effective company.

Attracting Investment

When you start a fintech business, it’s going to cost a lot of time and money to get it up and running. Most fintech startup owners have all the time in the world, but normally they don’t have the capital required to get their new business idea off the ground.

If you don’t have access to enough startup capital, it’s essential to try and attract investors who do have money. This exercise needs to be done in a professional and business-like fashion, which means you need to produce a comprehensive business plan and know all of your facts and figures before approaching any investor.

In many cases, investors will be investing more in you and your personality as much as they will be investing in your business idea, so you need to be organized, confident, and professional at all times. If you can do this, you will be much more likely to obtain the funding you need for your startup.

Build a Professional Team

The people who work with you will determine how successful your new venture becomes. From the start, you need to surround yourself with people who know what they’re doing and have the skills and experience required for a top-quality job.

Teamwork should also be a priority. As the driving force behind your new Fintech company, you need to develop a positive business culture amongst your team members.

As you can see, there are many factors you need to address before you start a fintech company. However, it’s not an impossible task and following the steps above will ensure that you are more likely to succeed with your new company.

Checkout Unique Finance and get a bonus from me.

Solar Companies are Sizzling Hot !

A recent report by Renewables Global Status confirms that 2016 was a bumper year for renewable technology, notably solar energy. According to the RGS report, the total amount of solar energy produced in 2016 amounted to 303 GW, up 75 GW for the year. Compared to non-renewable sources of energy such as coal and oil, solar is going at a rate of knots.

This pattern has been in play for 5 years. Installed renewable power capacity is dominated by solar energy, which now accounts for some 40% of all new capacity added. What is equally interesting is carbon dioxide emissions which have remained steady for the past 3 years in a row, even while the global economy has grown by 3%.

The Renewables Global Status Report confirms that more renewable sources of energy are being added to the global power capacity than all non-renewable sources like petroleum, coal, and others combined. Naturally, the rapid growth in renewable energy sources such as solar needs to be coupled with infrastructure growth and development. This requires high levels of investment, for distribution networks, sector coupling, and various options to balance supply/demand considerations. These enabling technologies will facilitate widespread growth of solar energy utilization.

Cost-Benefit Analysis of Solar Energy

Solar energy can reduce electricity bills by as much is 80%, and studies have shown that solar energy can increase a home’s value by up to 20%. Since these solar panels are designed for long-term cost savings, they are an investment in the future. Solar energy generates clean power from UV radiation (the sun). The costs of this energy transmission mechanism are substantially less than the rates charged by utility companies. Plus, the clean power from the sun and the solar panels leaves a minimal carbon footprint on the environment.

Solar energy has been shown to reduce monthly bills, and it is an investment that more than pays for itself over time. There are several options available to homeowners with regards to solar energy panel installation and usage. A buy option or a lease option is available, and both present affordable ways to reconfigure your electricity requirements. A study commissioned by North Carolina State University found that the average cost savings on energy bills ranges between $44 and $187 with solar energy panels. Solar panel quotes are quick and easy to obtain, and they cost nothing. Customers can source all the requisite information they need to understand what benefits they can enjoy – environmental and cost savings – by using solar energy panels to power their homes.

 

Is It Likely That Solar Energy Will Decrease in Cost over Time?

Solar energy companies are going mainstream with production facilities, network expansion, and infrastructure capacity. If the industry develops into an economy of scale, it is possible that costs will drop somewhat. However, the costs of solar energy are partially offset by a 30% federal solar tax credit. There are also state tax credits and incentives that are available to homeowners looking to install solar energy panels. As more people adopt solar energy, it is unclear whether federal and state regulations will continue supporting an incentivised scheme. Between 1960 and 2017, there has been little change in the efficiency of solar energy panels.

While costs have certainly come down in recent years, experts remain divided on just how far prices can fall. Consider that solar energy costs have been slashed in half since 2009, and some 1 million US homes now lay claim to solar energy. Several states have been phasing out subsidies and prices have flattened in recent years. However, it is the soft costs that comprise the bulk of solar energy pricing for residential homes. In European countries like Germany, solar systems are a lot easier to sell because the cost savings are so much bigger. In the US, state-by-state legislation is a bugbear to the effective functioning of a widescale solar energy network.

 EDF  Report

An EDF report confirmed that some 208,000 people are currently employed in the solar energy industry, and the industry is growing x 12 faster than the economy of the US. For the 1-year period ending November 2016, the solar industry created 2% of all new jobs in the US. One thing is certain: The solar energy industry is growing at a healthy pace, and it is creating cost savings and job opportunities for Americans across the board.

 

Checkout Unique Finance and get a bonus from me.

5 Ways to Build Your Customers’ Trust

 

 

Your business is reliant upon its customers, and while the products or services you provide may be top of the game, if your customers don’t perceive your business in the same light, you are not going to hit your targets and generate the profits that you crave. You need your brand to be strong, and instill in your customers a sense of trust and credibility, but how do you do this? Here are 5 ways to help you develop a business your customers will be loyal to.

Sell with Your Customers Best Interest at Heart

When your customer tells you what they want, and your products don’t quite hit the mark for the price that they are intending to pay, be honest. You do not want to sell your customer a product or agree to provide a service that does not meet their expectations. If you are honest with them, they will appreciate it, and will come back to you in the future.

Never Misrepresent 

You may be eager to make that sale, and your sales patter may be going full steam ahead, but never let it run away with you. You must never oversell your product or service’s features, or misrepresent your business, as it will only cause you problems down the line. You want your word to be valued and trusted.

Promise Only What You Can Deliver

Your sales training will have focused on the all-important ‘yes’; however, while you want your customer to say yes, you need to be aware of what you are saying yes to. It is no good to agree to terms and conditions that you cannot possibly meet, as it will damage your business’s reputation. It is in your best interests to negotiate to achievable goals so that all parties are happy.

 

Give Them Security

Your customers want to know that they are dealing with an organization that is a legitimate entity. Everything on your website, for example, signals to your customer your company’s ethos. By using a reputable payment service provider your customers will have confidence that you take protecting their financial information seriously, and as you have to be an established business of good standing to qualify for it, it means that you are indeed genuine and reputable yourself.

After Sales Care

There will not be a business in the land that has not faced a disgruntled customer, but it is how you deal with them with your after sales care that sets you apart from your competition. You have two ears and one mouth, and you need to use them proportionally: listen to your customer, and tell them your solution to the problem. Avoid making excuses and take responsibility!

Your business can only benefit from being honest, trustworthy and respectful. Customers respond to being treated as people, and not a figure on the balance sheet. There will be times when the easier route is to tell a customer what they want to hear, but by being transparent and truthful, your reputation will become the solid foundation on which to grow your business.

Checkout Unique Finance and get a bonus from me.