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TaxBestimates wants to help you keep more money in your wallet

(BUSINESS FINANCE) Did you know that taxpayers overpay by an average of $3,000 per year? Don’t let this be you. TaxBestimates can help.

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Optimize your taxes

Did you know that taxpayers overpay by an average of $3,000 per year? You heard me, they fork over thousands of dollars they didn’t need to. Don’t let this be you.

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TaxBestimates is a site that helps employees increase their take-home pay, understand their tax situation, and avoid unpleasant surprises when tax season rolls around. TaxBestimates analyzes your information and advises you as to the ideal percentage of taxes to withhold from each paycheck. The site has increased the monthly take-home pay of 28,000 users, totaling $11,000,000 in savings.

Accurate and up-to-date

As soon as you enter the site, you’ll find a calculator that helps you estimate how much more money you could be taking home with each paycheck. I found out that I could be earning $58 more per month by optimizing my tax withholdings.

The site tracks changes in real-time, so that you always have the most accurate, up-to-date analysis of the best way to manage your taxes, increasing your take-home pay and helping you avoid owing taxes or penalties at the end of the year.

Helps you outsmart the IRS

By analyzing your income, tax withholdings, and deductions, and other relevant information, TaxBestimates can create a customized W4. If you change jobs, get a pay cut or a raise, or have a major change in your life like a marriage or a baby, TaxBestimates can instantly adjust to the new circumstances. It can also analyze income from interest or from unemployment. You can view an estimate of your federal and state tax refunds, and get tips for saving money on your taxes. TaxBestimates will also let you know if you qualify for any tax deductions or credits.

Many employees who work for commissions or bonuses end up overpaying their taxes, because they are taxed at the regular rate of 25 percent. TaxBestimates can help you figure out how to avoid being taxed at this rate, and instead, helps you decide how much tax to withhold from each bonus paycheck to maximize savings.

The service costs $4.99 per month, or $9.99 per month if you work for bonuses.

#TaxBestimates

Ellen Vessels, Staff Writer at The American Genius, is respected for her wide range of work, with a focus on generational marketing and business trends. Ellen is also a performance artist when she's not writing, and has a passion for sustainability, social justice, and the arts.

Business Finance

First impressions matter – how to win over investors immediately

(BUSINESS FINANCE) Impressing investors is nerve-wracking, but these tips can help you to nail your first impression.

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meeting interview

Going in for your first pitch meeting with investors can be nerve wracking—especially if you haven’t yet met these investors in person. Fortunately, if you land a solid first impression, you can set the right tone for the meeting, and make the rest of the presentation a little easier on yourself.

But why are first impressions so important, and how can you ensure you make one?

Let’s start with a recap of the benefits of a strong first impression:

  • A reputation framework. Our brains are wired to make quick judgments about our surroundings. Accordingly, we tend to judge people based on our first interactions with them, with little opportunity to change those initial judgments later on. If you strike investors as a smart, likeable, and capable person early on, they’ll see your pitch deck in a whole new light.
  • Memorability. First impressions stick with people. If yours stands out from the other entrepreneurs pitching these investors, they’ll be more likely to remember you, specifically, and therefore may be more likely to eventually fund your project.
  • Personal confidence. If you know you’ve nailed the first impression, you’ll feel more confident, and as you already likely know, confidence makes you a better public speaker. You’ll speak more deliberately, more passionately, and with fewer mistakes.

So how can you make sure you land this impression?

  • Arrive in a nice vehicle. Show up in a luxury vehicle, or at least one that’s been recently detailed, sends a message that you’re already successful. This isn’t a strict necessity, but it can speak volumes about what you’ve already achieved, and how you might look when you drive to meet your future clients.
  • Dress for the occasion. Along similar lines, you’ll want to dress nicely. You don’t need to have ridiculously expensive clothes, but you should wear standard business attire that fits you properly and has no signs of wear. It’s also a good idea to get a haircut, shave, wear tasteful makeup, and make other small touches that improve your overall appearance.
  • Smile. Smiling is contagious, and it instantly makes you more likable. Don’t force a grin (or else you’ll look like a robot), but do flash a genuine smile as often as appropriate during the first few minutes you meet your prospective investors.
  • Use your investors’ names. When you speak to your investors, try to address them by name as often as possible. People love to hear the sound of their own names, so it might help you win their favor. As an added bonus, it will help you reinforce your association with their name and face, so you eliminate your risk of calling someone by the wrong name later on.
  • Warm up with something personal. It’s tempting to get down to business right away, especially because your investors’ time is limited, but in most cases, it’s better to warm up with something personal—even if it’s only a few lines of a conversation. Tell a funny joke you heard earlier in the day, or share an anecdote about how your morning has been going. It makes you seem more personable and charismatic.
  • Find a common link. If you can, try to find something in common with each of your prospective investors. You might comment that you got your tie at the same place they did, or that you use the same type of pen. Look for subtle clues about their personalities, lifestyles, and hobbies, and forge a connection through those channels. People disproportionately like other people like them, so the more commonalities you can find with your prospective investors, the better.
  • Watch your posture. Your posture says more about you than you might think. Keep your back straight with your shoulders back, and walk confidently with your hands out of your pockets. This is crucial for projecting confidence (and feeling it internally as well).

If you can land a great first impression, you’ll set the stage for a killer presentation—but don’t think you’re out of the woods yet. You still need to make sure you have a fantastic pitch deck in place, and enough knowledge on your startup idea to handle the toughest investor questions. If this is your first pitch, don’t worry – it does get easier – but the fundamentals are always going to be important.

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Business Finance

Parody on capitalistic currency highlights cryptocurrency’s appeal

(FINANCE) This goofy parody showcases why traditional currencies are mocked while cryptocurrency solves some inherent problems with finance.

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cryptocurrency parody

In a video parody of capitalism by Hello Generic, actors poke fun at what makes capitalistic currency so principally ridiculous. While the parody itself is clearly geared toward traditional currency, it also inadvertently makes a strong case for cryptocurrency and why people are putting their faith into it.

In the video, the actors are stranded on an island on which they attempt to establish an economy. The first action that they consider is using coconuts as their form of currency—an idea that is quickly overshadowed by the notion of using seashells to represent the coconuts (clearly a jab at the idea of a federal reserve). The video then explores how easily concepts like inflation and debt can develop completely regardless of the wishes of the people; since the coconuts (read: gold) aren’t actually being used, it’s all too easy to grab a few more seashells than are backed.

It’s no secret that many people in America don’t trust the government not to screw up their money, which is why it’s also not surprising that so many people are turning to cryptocurrency as an investment vehicle.

Cryptocurrency certainly has its drawbacks – it’s volatile, unprecedented, whimsical, and subject to influence by completely unpredictable circumstances – but it’s also easy to see why some view it as safer than traditional money.

Since cryptocurrency is decentralized, one mustn’t worry about its value depreciating because of politicians or failing international relations, nor do people have to stress over its value becoming inflated or manipulated by governments.

Similarly, cryptocurrency has a definitive cap on how much can be sold. Since there is a limited number of cryptocurrency tokens available at any given time, borrowing more than is available isn’t even an option; instead of grabbing a seashell whenever you want to spend or buy more than you can, you’re rightfully stuck with your finite number of coconuts.

To make the claim that cryptocurrency is more stable than traditionally capitalistic currency would be absurd, but cryptocurrency is definitively less susceptible to the same problems that make our currency as unstable as it is. Given the government’s past usage of our currency (usage that has led to our country’s massive debt) it’s no wonder that more people are turning to a government-free form of finance.

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Business Finance

How small companies can compete with free shipping

(BUSINESS FINANCE) When running a smaller shop online, how can you compete with free shipping from giants like Amazon that can afford it?

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shipping boxes

It’s hard enough for small businesses to compete with big retailers. But online shops also have to consider the additional cost of shipping. With stores like Amazon and Walmart.com offering very cheap or even free shipping, how is a smaller shop to compete?

Shopify, an e-commerce platform for online shops and point-of-sale-systems, posed this question to Thea Earl, product manager for Shopify Shipping. On the AskShopify blog, she offered some tips for managing shipping costs.

First, Earl points out that while “free shipping is an excellent marketing tool,” if you can’t afford to offer free shipping, it helps to offer a “really clear flat rate.”

Customers who think they’re getting a good deal may balk if they’re surprised by an exorbitant cost to ship. If you can consistently offer a flat rate, and let the customer know right off the bat, they’ll “know what to expect when they hit checkout” and won’t get sticker shock at the last minute, causing cart abandonment.

If you want to offer free or very cheap shipping, consider raising the prices of your products, even by a dollar or so, to help cover delivery costs. Note the ratio between the profit margin and the cost to ship.

Perhaps for highly profitable items, you can afford to absorb the shipping costs, while slightly raising the prices of less profitable products to offset the balance.

Lastly, Earl realizes that small business owners have no control over whether or not a carrier raises its prices to ship.

You do, however, have control over the packaging. Be smart about the types of packaging you use. Measure products and buy envelopes and boxes that are just the right size to save money on weight.

Paper and poly envelopes are lighter, and therefore usually cheaper than cardboard boxes. Also, Earl points out that most carriers have at least a few options for free packaging. Utilize these free options whenever you can.

And of course, you could always join a group like Shopify to take advantage of their bulk mailing partnerships with carriers like UPS, USPS, and DHL.

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