Spring Forward

So, it's about that time of year again. We're all looking forward to pushing those clocks up for the spring time and getting the same Patty's day jump start on the next season. Today's blog has a lot to do with the most recent topics in the news; the American rescue plan. So funny how 12 out of the 24 hours of the day the national news channels have been covering Congress and the house trying to pass the plan for American citizens recovery for post pandemic comfortability administration and reopening. The question that keeps coming to mind is as a small business owner what's the cost and how will it impact the family. So, I thought this would be a great topic. Let's bring forward into what income looks like for all of those out of Marge and taxpayers this third stimulus round. The consideration of tax season income is its simplistic line item that always comes first on the 1040 when filing for taxes. According to Miriam's dictionary, income is, "a gain or recurrent benefit usually measured in money that derives from capital or labor.," The most common forms of income are business or employment. As a review of the business income it's essential to consider whether you're self employed or registered with the state as an incorporated entity. As a self-employed income earner you can fall under three different categories; direct sales IE lead generator, catalog cells like Avon or third party sites like Craigslist or Angie's list. All of these listed can be cash flow, debit credit or Don fee associated income earners like paypal. As a business income maker you will receive the same type of funds as listed above. However you would be registered with the state and be identified as incorporated, sole proprietor or as a limited liability product or service provider. Small to midsize business owners have more room to grow as it relates to office space and prospecting. Traditionally, multi-level marketing and catalog sales groups had a built-in marketing system that's organized with an upline that can answer questions and close the deal for their lead generators and subordinates on their downline. When you are independent and have written a business plan or have received loan funds to operate you usually seek ways to generate new clients and income in different ways. For example networking events found on google, Eventbrite and similar sites. Social media groups that share your interest and are in your industry. expos, fares and community events that have participants and attendees that will be interested and seek to support your product or services. All of which search the markets through your mobile device, I shared space that is conducive to business productivity and efficiency. The one thing that I would think that you should consider and research is the rates and services that you're marketing as you prospect so often we set up based on the old module of market to retail value. covid-19 and the pandemic it's becoming more essential to research your market trend and base your pricing on what the market needs as opposed to the pricing according to your personal business obligations. Furthermore, deciding the language of your contracts and whether or not you will work 1099 or otherwise there's another necessary step to make as you assess and evaluate your income standards According to the Department of Labor, the standard minimum wage is 7:25 so if you don't have the time or happen to find an opportunity in passing your pricing should be at least three times this amount. Simply because you are providing an independent service that is not that or supported or driven by a large corporation or previously branded organization. Using an online resource such as ownet.com is an awesome tool for those of you retaining income from employment because you have the opportunity to search by industry, occupation, location and skill. If you're working from home through a prospective employer, be mindful asking for a raise in the promotion is still a thing of the present. If you use an app, software or website that makes your work more accurate and efficient don't hesitate to put these as a reference on the company zoom call or list in your request for advancement within the company. Finally, the dreaded portion of the income discussion that we also eagerly awake as we open the mail from our prospective editors. Expensive! We should go without seven you know I'm busy Spencer should be kept several to the rest of your ability this might be a new skill or concept for all of you work from home agents and virtual administrative Assistant. However, there are numerous templates, tools and resources on Google and most are compatible apps that you can search with the keyword budget to gain access to. If this is a scary subject for you right now be sure to seek The support and advice of a financial professional for tracking and assessment of this information. At any rate expenses should be listed as follows: colon by priority then by ability to pay. For example, we all know you need food, water and electricity to perform 75 to 85% of the current job market duties in today's time. So, most of that all costs associated with jobs should always be at the top of your list according to necessity and ease of use for yourself and whomever you are sharing class with or responsible for. Next, expenses that address your comfortability and health should be considered. And the budget specialist day we would say take care of the need and save the rest. With more than 60% of the population staying at home on West airport,. Comfortability has moved up on the list without taking this concept too far the lowest of examples to stay within the guidelines of budget conscious comfortability semicolon ergonomic seating and workspaces, audio visual technology that preserves your visual and audio integrity and partitions and or dividers that support healthy social distancing and mental health stability are all that should be considered mandatory at this time. Most of which seems like a far cry when you try to keep your lights on. However extremely essential when your roommate and significant other send you on a downward spiral of irritation and anger because you can't stop and take a minute to think for yourself. The only other thing left to consider is expenses related to being a parent, guardian to a dependent child or senior citizen. know which goes without saying. However, purchasing decent footwear and fencing or safe boundary equipment would be a great idea if you have something extra left over after your necessities. There are a number of online and virtually interactive goods that make it a sound and reasonable purchase to ensure your youth and Young adults get the opportunity to stay smart, healthy and fit during such indoor driven market trends. Next, time will tell the organization monster and oh next time we'll tackle the organization monster and see what works best for you as a small to midsize business on a small to mid size budget. Until next time, happy saint Patty's day and an awesome rest of the year to you and your firm.