Invest $100 in a Good Engraver and Keep Yourself Out of Debt This Christmas

If you are like any normal person, you are probably trying to think of ways to keep your bills paid. That may be harder for some than others, and those who are struggling are in constant need of creative ways to make extra money. If they are able to take what little money they do have, and invest it into something that can make them a great return, then they can not only find a way to pay their bills, but relieve some stress as well. So if you are one of these people, and looking for something that will make you extra money this year, here’s a great tip.

Buy an engraving machine!

Not many people have their own engraving machines, and that is why you can make great money with one, especially around the holidays. If you can spend around $100 on a quality machine, then you can start engraving items for cash. For the holidays, engraved and personalized items are fabulous gifts, and if you can produce them, you can make a lot of great return on your initial investment. If you only had enough money for the engraver, that’s fine.

However, if you had a little left over, you could visit a local craft store and pick up some items you can have ready to engrave. Things like glassware and metal ornaments can be bought for incredibly low prices, and then resold for triple that amount once you have personalized it for someone. You could do this for just the holidays if you so choose, but you could also turn it into a year round business if your own website. That way, your initial investment will be paying you for years to come!

Being Your Own Boss – How to Start Your Own Business From Scratch!

Life as an entrepreneur, soloprenuer, small business owner, or independent contractor is very different from one business professional to the next. What makes it different depends on your business model, your passion and tolerance for risk, and whether or not you are promoting tangible or intangible products and/or services. Having said all that, you want to start a business and you want to do it from scratch. Great! Being a business owner is like all things in life: it can be rewarding and frustrating at the same time. I am here to tell you how you can minimize your frustrations and reap the rewards sooner rather than later with the following 6 simple tips on how to start a business from scratch.  

1.  Write a business plan. Oftentimes we start a business out of passion or disgusting for working for someone else. We jump head first into the deep end of self-promotion, yet we forget to take the appropriate steps that lead to the best results. A Business plan can be as simple as writing down your company’s vision, mission, objective, strategies and action plan(s) or it can be as sophisticated as showing income projections over the next few years, marketing efforts, sales strategy, cash flow, etc. Regardless on how simple or sophisticated your plan is, you have to start with something, but not something that stays in your mind, but rather something written. Then, when you have a clear vision of what you want to do, how you want to do it and how much you plan to charge for it, you can invest in a sophisticated plan.

2. Identify your secret ingredient. Starting a business can be an overwhelming process if you are unsure what makes your business unique. Offering lower prices for something that already exists is not necessarily a good reason to start a business. Oftentimes, you cut yourself to the point where you can’t afford to stay in business. You may not need to be the first person to do something, but you have to offer something of value so that people will pay. Generally, a good start up solves a legitimate problem. For example, do you remember life without Google and page rank? Google was able to solve the problem of poor search results. They were the first company that banked on people wanting smarter search results and look at them now. 
3. START. “I am so grateful for my clients for they buy my products before they are perfect.” Bill Gates. You cannot allow yourself to get stuck in the proverbial fork in the road. If you have a burning desire to do something, just do it. Then, speak it out loud to friends and family, even if they are not immediately supportive. You have to say it out loud to subconsciously see yourself being the entrepreneur you always wanted to be. It’s similar to wanting to lose weight. If you keep it to yourself, you risk putting yourself down. But if you speak it out loud, you not only accountable to yourself but to others as well.
4. Hire a Business Coach. You may be in business for yourself, but you certainly don’t have to do it alone. A good business coach listens, teaches, keep you accountable, and can model the same activities he or she recommends to you. A coach can take you through the development process and knows how to give “constructive criticism.” That’s the type of criticism that hurts, but helps us grow at the same time.

5. Take Calculated Risks and Track Your Results. Tracking is the most important part of any small business’s owner’s life. If you invest $100, $1000 or a million dollars, you will want to know what will be your return on your investment to decide if the risk was worth your time.
6. Understand and accept that starting a business is a journey. You may find that what you started out as is not what you end up to be. In fact, as you are going through your business building motions, you may find your secret ingredient and live out the life you’ve always dreamed about. “I am a small business owner and I am proud of it.”

8 Investment Property Documents That Landlords Should Keep

The financial records you should keep should fall into these three main categories: rental income, allowable expenses, and capital costs.

Rental income

Keep records detailing all of the rent you charged and received, as well as the dates each property was let out.

Allowable expenses

These are the costs that are involved in letting out or managing your property investment portfolio these may be subtracted from the rental income to reduce your taxable profit. Those expenses can include all or part of these costs:

8 Property Investment Documents That You Should Keep

1 – Documents relating to fees paid to letting agents and accountants, and for legal Fees.
2 – Documents for property insurance insurance for Homes and Commercial buildings and contents;
3 – Documents showing the interest on your property loan
4 – All paperwork regarding maintenance and repairs on your Investment Property.
5 – Document the utility costs;
6 – Make sure you document the rent, ground rent, and service charges.
7 – Keep records of your Council tax bills;
8 – advertising costs not to mention to document other direct costs of letting out the property.

Capital costs

You may claim different types of allowances for the cost of furniture and equipment you provided with the property. You may also deduct certain capital allowances for cost of equipment relating to your lettings business. To take these deductions, you need to keep records showing exactly how much these items cost you and what date you purchased them.

For all of your expenses, an accountant should give you guidance on exactly what you can claim and how to keep the required records. In general, you should document all of your income and expenses by having rent books, receipts, invoices, and bank statements. Remember to keep your business and personal records separate.

Finally, if you do profit from selling property that is not your primary home, you may have to pay a set amount of capital gains tax. Some of your costs should be deducted when calculating this amount of this tax, so make sure you keep a record of when you purchased and when you sold the property.

The acquisition and the sale price, all buying and selling costs, and the cost and dates of improvements. yearly capital gains tax reductions are available to landlords under certain conditions. Confirm with your accountant what you can claim and when so you can then plan to sell your property at a tax advantageous time.