Money Management Made Simple

COVID-19 has shaken things up for 2020. However, there are very feasible ways to recover next year. Let us take a very close look at business after COVID-19 and five ways to jumpstart your COVID comeback.

Transitioning from a brick and mortar to an online business is not an easy task. It's more than having a smartphone device and an internet connection. It involves various steps to set up a profitable online store. Below are the seven steps to follow in moving your business online.

With the current COVID economy leaving so many Americans out of work, many people are turning to freelancing as a means of supporting themselves. If this includes you, you are to be commended for taking the initiative.

If this is your first time working as a freelancer, you might not be aware of the nuances of reporting and paying your taxes under this scenario. We hope the following information will point you in the right direction.

We all know what it's like to be cruising along on financial autopilot when BAM! Out of "nowhere" a major "unexpected" hit comes and knocks us into a scrambling tailspin. Whether it's medical expenses, taxes, that credit card bill we lost track of, car repairs or anything outside the norm, those extraordinary "hits" can set our vacations plans back years.

But let's face it. Those types of hits aren't all that unexpected, are they? We know we're going to have to pay taxes and the credit card bill and more often than not for a trip or two to the doctor. And on top of those expenses, studies show that at least $600 goes toward "discretionary expenses" which include restaurants and entertainment, clothes and etc., services, and home appliances. That's a pretty hefty chunk of unbudgeted change to find in between your couch cushions.

So what's the best way to go about saving when you're already at maximum output in your bare bones budget

Thoughts truly do become things no matter what it is you've got on your mind. If you're always thinking about lack and debt, all you'll be able to see and focus on is lack and debt. If you begin to notice and speak about prosperity and happiness, you'll attract more of that to you as well.

Positive self-talk is imperative to every aspect of life – especially your financial health. It's not hard to trace your current situation back to its roots through your thoughts, which created your habits which created either positive or negative cash flow.

If you're ready for different results in your bank accounts, it's time to change up your words so everything in your life can begin to shift into the black as wel

In our busy lives, it's sometimes tough to corral our financial records. Bills, paycheck stubs, tax returns, and bank statements can disappear into dusty attic corners and bulging desk drawers. Important insurance policies can hide out beneath bins of holiday ornaments and electrical supplies. Mortgage documents can sneak into old books or hide themselves in nooks and crannies throughout the house. Take the time now to get those papers out of hiding. Here are four suggestions for getting organized

Many small business owners pay too little attention to their financial statements. This is due in part to not understanding just what the statements have to offer. In fact, many may not be able to tell you the difference between a Balance Sheet and an Income Statement.

Your business can't be profitable if you don't get paid. Regular accounting tasks may not be the most exciting aspect of running a business but they are necessary. Although important, it can be all too easy to procrastinate and not get these critical tasks done regularly. Here are some ways you can stop procrastinating and complete your bookkeeping tasks regularly

One of the questions I've been getting a lot lately is, "Is it better to lease a car for business purposes and can I claim the lease payments on my taxes?"

The short answer is: Yes to both.

The more detailed answer is: …but there are caveats to how you can claim the deductions.

Leasing a new automobile is a great idea if you put a lot of miles and wear and tear on your vehicle for business travel, but as with most tax issues there's a lot of "mental wear and tear" that go along with how to list these deductions.