Entrepreneurship http://www.wisebread.com/taxonomy/term/4815/all en-US 8 Clever Ways People Are Making Money From Pokémon GO http://www.wisebread.com/8-clever-ways-people-are-making-money-from-pok-mon-go <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-clever-ways-people-are-making-money-from-pok-mon-go" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_playing_pokemon_go_99165129.jpg" alt="Man finding ways to make money from pokemon go" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Pokémon GO is more than the latest gaming craze &mdash; it's an economic boon. Not only did the free-to-play augmented reality game <a href="http://www.theverge.com/2016/7/25/12269466/nintendo-stock-plunge-pokemon-go">briefly doubled</a>&nbsp;Nintendo's stock value by <a href="http://money.cnn.com/2016/07/22/technology/pokemon-go-apple-download-records/">shattering the record</a> for the most first-week downloads in mobile app history, it's also inspiring a new economy of Pokémon-related goods and services pioneered by the enterprising everyman.</p> <p>Even kids are cashing in on Pokemania. Read on for our roundup of all the clever ways people are capitalizing on the success of the game that brings blushing yellow avatars, stardust, and healing potions to America's neighborhoods.</p> <h2>1. Selling Handmade Reflective Badges</h2> <p>Athen Salcedo is a concerned American &mdash; and, no, it's not the upcoming presidential election that's got him troubled. After&nbsp;hearing news of so many <a href="https://www.washingtonpost.com/news/the-switch/wp/2016/07/08/pokemon-gos-unexpected-side-effect-injuries/">Pokémon GO players getting injured</a> while playing the game in the dark, the seven-year-old entrepreneur had an idea: What if there was a reflector badge that Pokémon GO players could pin to their clothing to make themselves more visible while dashing through neighborhoods at night?</p> <p>Introducing the <a href="https://www.etsy.com/shop/PokeGlo?ref=l2-shopheader-name">Poke Glo</a>: A reflective safety badge that game players can wear to stay safe while chasing Pokémon after sunset. In less than two weeks, Salcedo has made 139 sales of the homemade badges, which range in price from 50 cents to less than five bucks. Currently, he's sold out. But rest assured, Salcedo says he is hard at work making new Poke Glo badges, which he promises to stock in his Etsy store soon.</p> <h2>2. Offering Rideshare Services With a Pokémon Twist</h2> <p>Some Pokémon GO players are avid gamers unaccustomed to spending so much time off the couch. To be sure, the chase for Pokémon can be exhausting. That's why entrepreneurial-minded folks are launching &quot;<a href="https://kalamazoo.craigslist.org/trv/5685367204.html">Uber for Pokémon</a>.&quot; Capitalizing on the success of ride-sharing services Uber and Lyft, these businessmen and women offer to drive Pokémon GO players from PokeStop to PokeStop, allowing gamers to play without ever having to exert themselves.</p> <p>Another benefit: By handing over the driver's seat to a well-intentioned stranger, Pokémon-chasers can play the game seamlessly without having to put the phone down in order to keep their eyes on the road. In Kalamazoo, for example, a Pokémon rideshare service provider named Pat is offering to cart game players around for $1 per mile, plus $1.50 per PokeStop. Not a bad deal for game players who are averse to breaking a sweat.</p> <h2>3. Dropping Lures</h2> <p>Pokémon GO is helping small business owners lure in traffic &mdash; literally. Some businesses, especially those that rely on foot traffic, are seeing big boosts in business because, by luck of the draw, their location has been designated by game makers as a PokeStop or Gym. This means that Pokémon GO players are flocking to their address in order to capture Pokémon and other rewards.</p> <p>But owners of businesses located in the vicinity of these GPS hot spots can also make money off the game by investing in something called Lures. In short, Lures are a game component that boost the rate of Pokémon generation for up to 30 minutes near the PokeStop where they're placed. Lures, which can be purchased in the app for a little more than a dollar, are being used to <a href="http://www.inc.com/walter-chen/pok-mon-go-is-driving-insane-amounts-of-sales-at-small-local-businesses-here-s-h.html">bring in big crowds</a> to local businesses, as well as garage sales and front yard produce stands.</p> <p>At least one pizzeria owner is using this method to reap big benefits: &quot;I own a pizzeria that's a PokeStop and I literally did this all day,&quot; the business owner wrote on Reddit. &quot;I had a ton of kids and adults (mostly adults) come in for a slice of pizza and a drink until the lure ran out.&quot;</p> <h2>4. Opening PokeStop Lemonade Stands</h2> <p>It's summertime, and in most pockets of the nation that means the weather is hot and steamy. Translation: Game players chasing after Pokémon are going to get parched. That's where enterprising, young Americans are coming in, equipped with a tip jar and a pitcher of fresh-squeezed lemonade. That's right, putting a new twist on the old fashioned lemonade stand, business-minded folks across the U.S. are setting up snack and refreshment stations near PokeStops, simultaneously making a buck while quenching the thirst and appetites of hungry Pokémon hunters.</p> <h2>5. Selling Mobile Battery Chargers</h2> <p>At least one Etsy shop owner is helping Pokémon GO players keep their mobile devices juiced up with an <a href="https://www.etsy.com/listing/466681155/hand-made-pokeball-themed-battery-pack?source=aw&amp;awc=6220_1469036537_9b7c0bda7ec3eb1f0b2b109196fb23c6&amp;utm_source=affiliate_window&amp;utm_medium=affiliate&amp;utm_campaign=us_location_buyer&amp;utm_content=78888">on-the-go battery pack</a> craftily disguised as a Pokeball. Though bulky, the $40, thematically on-point device vows to extend your battery life by two full charges.</p> <h2>6. Mastering the Game &mdash; And Then Selling the Account</h2> <p>Since the existence of rules, there have been rule-breakers &mdash; and the Pokémon GO phenomenon is no exception. Though selling your Pokémon GO account to other players is strictly prohibited by the game's terms of service, there are countless people out there doing it. For $100, you could purchase a New York City-based <a href="http://newyork.craigslist.org/wch/vgm/5689385979.html">level 15 account</a>. On eBay, there are advanced level accounts for sale at prices as low as $5 and as much as $1,500. What's a level 10 account worth to you?</p> <h2>7. Coaching Gamers to Be Better Players</h2> <p>Some people play games for the sheer fun of it. Others play to win. And it's the latter that have given breed to a new wave of Pokémon trainers, many of whom are advertising their services on Craigslist for $20 to $30 an hour.</p> <h2>8. Writing Tell-All Guides</h2> <p>Author Doug Morrow's step-by-step guide to becoming a master Pokémon GO player is available on Kindle. And for $2.99, it can be yours. <a href="http://amzn.to/2aG1f2u">Mastering Pokémon Go: An Unofficial Guide to Catching Them All</a>, is Morrow's unofficial cheat sheet, full of instructions for throwing a curveball and tips on how to find the best Pokémon.</p> <p><em>Has Pokemania struck your household? Figured out a way to cash in?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/brittany-lyte">Brittany Lyte</a> of <a href="http://www.wisebread.com/8-clever-ways-people-are-making-money-from-pok-mon-go">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/effective-ebay-listing-0">Effective eBay Listing</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-surprising-sources-of-celeb-income">6 Surprising Sources of Celeb Income</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/turn-old-clothes-into-money-with-these-4-tools-and-apps">Turn Old Clothes Into Money With These 4 Tools and Apps</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/30-cash-back-sites-to-earn-you-thousands-per-year">30+ Cash Back Sites to Earn You Thousands Per Year</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-freelance-jobs-that-pay-surprisingly-well">11 Freelance Jobs That Pay Surprisingly Well</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entertainment Entrepreneurship Extra Income apps lures making money Nintendo pokemon go pokestops small businesses trends video games Tue, 26 Jul 2016 09:00:11 +0000 Brittany Lyte 1759363 at http://www.wisebread.com The Self-Employed Person's Guide to Getting Credit http://www.wisebread.com/the-self-employed-persons-guide-to-getting-credit <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-self-employed-persons-guide-to-getting-credit" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_drinking_coffee_97144221_0.jpg" alt="Man finding financing when he&#039;s self-employed" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You work for yourself. And most times, that's great. But when you're trying to qualify for a mortgage loan or apply for a credit card, it can be a real struggle.</p> <p>That's because lenders prefer loaning their dollars to borrowers who have a steady income that stays the same each month. That isn't what happens with most people who are self-employed. Your income can rise one month, and fall the next.</p> <p>There is good news, though: Plenty of people who work for themselves finance homes and cars, and plenty have credit cards in their wallets. How can you join their ranks? Here are four tips for convincing lenders that just because you're self-employed doesn't mean you're a risk to default on your loans.</p> <h2>Prove That Your Income Has Been Steady for Years</h2> <p>It's far easier to qualify for financing or credit cards if you can show lenders that the income you've made as a self-employed worker has been steady or rising each year. If lenders see that what you made last year was similar or better to what you made the year before, they'll be less nervous about loaning you money.</p> <p>To prove that your income is consistent, you'll have to provide lenders with at least the last two years of your income tax returns &mdash; returns that should show that your income during these last two years did not swing wildly up or down.</p> <p>What if you haven't been working for yourself long enough to show at least two full years of self-employed income? Or what if your self-employment income hasn't been consistent and has soared high and fallen low? You'll struggle to qualify for a loan. It might be best to wait until you can show those two consistent years of income before applying.</p> <h2>Build a Top Credit Score</h2> <p>Your FICO credit score is a key number when applying for a loan or credit card. It's especially important for self-employed borrowers, who can rely on a high FICO score to help lessen the anxiety lenders often feel about loaning money to those who work for themselves.</p> <p>Lenders today consider a FICO score of 740 or higher to be an excellent one. Such a score shows that you have a history of paying your bills on time. Such a history can put nervous lenders at ease and improve your odds of qualifying for a credit card or loan. (See also: <a href="http://www.wisebread.com/5-best-credit-cards-for-people-with-excellent-credit?utm_source=wisebread&amp;utm_medium=seealso&amp;utm_campaign=article">Best Credit Cards for People with Excellent Credit</a>)</p> <p>Building a good credit score is simple: Pay your bills on time and pay off as much credit card debt as possible. Just don't close a credit card account after you've paid it off. That can actually hurt your credit score. (See also: <a href="http://www.wisebread.com/7-ways-to-increase-your-credit-score-quickly?utm_source=wisebread&amp;utm_medium=seeals&amp;utm_campaign=article">7 Ways to Increase Your Credit Score Quickly</a>)</p> <p>And if your FICO score is low? You might need to wait until you build it up to apply for a loan. Being self-employed and having a low score is no way to convince lenders that you're a good risk.</p> <h2>Build Your Savings</h2> <p>Lenders like all borrowers to have plenty of money saved. This way, if these borrowers should suffer a financial crisis, such as a job loss, they'll have some reserves to make at least a few mortgage or auto loan payments until they can resolve their financial struggles. Having cash reserves is especially important for self-employed borrowers. If you can show lenders that you have money in the bank, they'll be less nervous about the prospects of your self-employment income suddenly drying up.</p> <p>How much savings you should have varies by lender. But most lenders want at least two months of mortgage payments saved up. If you're self-employed, saving even more than this can only help your efforts to qualify.</p> <h2>Come Up With a Larger Down Payment</h2> <p>If you're applying for a loan, coming up with a bigger down payment is one way to convince otherwise reluctant lenders to work with you. Lenders like to work with borrowers who have what they call &quot;skin in the game,&quot; meaning that they are willing to invest more of their own money upfront when financing a home or car.</p> <p>Consider applying for a mortgage loan: It's possible, depending on lender and loan program, to qualify for a mortgage while putting down just 3% of a home's final purchase price. If you're self-employed, though, you might have better luck convincing lenders to work with you if you can come up with a down payment of 10% or 20% of a home's down payment. Lenders think you're less likely to stop making mortgage payments if you've already invested more of your own money into the home.</p> <p><em>Are you self-employed? Have you struggled to find financing?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/the-self-employed-persons-guide-to-getting-credit">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-things-you-need-to-know-about-credit-scores">5 Things You Need to Know About Credit Scores</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss">The SEP-IRA Is How the Self-Employed Do Retirement Like a BOSS</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-6-biggest-financial-decisions-in-your-20s">The 6 Biggest Financial Decisions in Your 20s</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-do-money-like-a-grown-up">How to Do Money Like a Grown-Up</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-despair-over-small-retirement-savings">Don&#039;t Despair Over Small Retirement Savings</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entrepreneurship credit down payments financing freelancers income loans savings self-employed Thu, 14 Jul 2016 09:31:21 +0000 Dan Rafter 1749904 at http://www.wisebread.com The 5 Biggest Mistakes Freelancers Make http://www.wisebread.com/the-5-biggest-mistakes-freelancers-make <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-5-biggest-mistakes-freelancers-make" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000064845003_Large.jpg" alt="it&#039;s easy for freelancers to make these mistakes" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Freelancing is a constant push and pull. You have the freedom to be your own boss, but <em>sometimes</em> we're not the best bosses of ourselves. Steer from making these five common mistakes freelancers make, and get ahead of the pack.</p> <h2>1. Forgetting to Withhold Taxes</h2> <p>This is one of the first issues freelancers encounter. It's easy to get excited by lump sum contractor checks. You drop that check into your checking account to pay bills and buy yourself something nice, then before you know it, you've spent it all without saving anything. Come tax time, you're facing a hefty bill. Why?</p> <p>The IRS charges a <a href="https://www.irs.gov/Businesses/Small-Businesses-&amp;-Self-Employed/Self-Employment-Tax-Social-Security-and-Medicare-Taxes">self-employment tax of 15.3%</a> no matter how much or little you make. Unfortunately, there are only so many deductions you can claim, so it's very unlikely you can avoid the tax. Prevent the huge financial burden of a large tax bill now by automatically putting away 20% of everything you earn. The 15% goes to paying the self-employment tax, and the remaining 5% is there to help pay state taxes and, of course, the tax prep fees &ndash;&ndash; the more 1099s you have, the pricier your preparation will be.</p> <h2>2. Neglecting to Save for Retirement</h2> <p>New freelancers sometimes operate under the misconception that they don't have the knowledge or enough capital to invest in their retirement. It can also be difficult to consider saving for retirement when times are thin. If the freelance gigs are trickling in slowly at the moment, you might be savings-averse. But this is exactly why retirement savings are so important. Considering the uneven payment schedule of freelancers, a place where your money can grow slowly over time is an important safety net to have. </p> <p>It's actually super easy to <a href="http://www.wisebread.com/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss">set up an IRA</a>, Mutual Fund, CD, or any other kind of investment account. Find the financial institution you prefer, and they will give you the step-by-step in person or over the phone &ndash;&ndash; they'll even do most of the work for you (you are giving them money, after all!). At the end of the day, as a self-employed worker, you, and only you, are responsible for your future, so it's time to get proactive.</p> <h2>3. Losing Track of Expenses</h2> <p>Being a freelancer means having to balance both incoming and outgoing dollars. Do you have to spend money on raw materials? Do you spend hours of unpaid time and/or money on research before doing the job? This should all be tracked and never go beyond a certain limit you determine, based on the work.</p> <p>Also, some clients are easier to please than others. If you fall into a deep hole on a problem project, be sure to speak up. They might be able to give you a bigger expense budget or increase your hourly rate to cover it.</p> <h2>4. Not Setting a Schedule</h2> <p>Next to setting a work budget, setting a schedule may be the most important thing you can do to ensure you can make the most of each project, and each day on the job. If you come to your desk each morning without a list or a plan, that's a sign that you may need a time management intervention. </p> <p>Start each day with a to-do list. First, you need the overall to-do list &ndash;&ndash; one that covers all your ongoing projects and what must be done for each, with deadlines. Then, break those project to-do lists into weekly and daily to-do lists, respectively. Hang up a marker board in your office, with your milestones and goals for each day and week regularly updated. Google Calendar is also a great tool for creating tons of mini-calendars that sync with all your devices.</p> <h2>5. Skipping Self-Marketing</h2> <p>Are you the type of person who dives deep into a project then once it's done, dives into another? Well, not many people will know what you did if you don't take the time to tell them! Self-promotion is a crucial tool in managing your reputation. Build in time to your schedule to share your work with your personal and professional networks.</p> <p>How do you keep former, current, and future clients updated on what you do? Try starting a portfolio website, updated every few weeks with new work you've completed. Are you the type of contractor who relies on lots of new clients? Consider posting listings on all the gig websites: Craigslist, Guru, Thumbtack, Tispr, and others.</p> <p>Do you know a lot about topics related to your freelance job? Start a blog section to your website that answers frequently asked questions about your profession. Being known as an expert in your field can drastically improve your perceived value to clients, resulting in more work, and even better pay!</p> <p><em>Have you made any mistakes as a freelancer? Share with us!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amanda-meadows">Amanda Meadows</a> of <a href="http://www.wisebread.com/the-5-biggest-mistakes-freelancers-make">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-things-i-learned-about-money-after-i-went-freelance">7 Things I Learned About Money After I Went Freelance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/day-job-or-freelance-which-is-right-for-you">Day Job or Freelance: Which Is Right for You?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/22-websites-that-will-pay-you-to-write-for-them">22 Websites That Will Pay You to Write for Them</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-freelance-jobs-that-pay-surprisingly-well">11 Freelance Jobs That Pay Surprisingly Well</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-simple-guide-to-retirement-plans-for-the-self-employed">A Simple Guide to Retirement Plans for the Self-Employed</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career and Income Entrepreneurship Extra Income budgeting freelance freelancer investment marketing self-employed taxes work from home Wed, 18 May 2016 10:30:11 +0000 Amanda Meadows 1712070 at http://www.wisebread.com A Simple Guide to Retirement Plans for the Self-Employed http://www.wisebread.com/a-simple-guide-to-retirement-plans-for-the-self-employed <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/a-simple-guide-to-retirement-plans-for-the-self-employed" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_working_laptop_000064887191.jpg" alt="Woman learning about self-employed retirement plans" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Being self-employed has its ups, but it can also have its downs. For instance, there may be enormous business costs to worry about, and you likely have to finance your retirement account entirely on your own. Fortunately, there are a number of self-employed retirement plans that can help you save enough for retirement.</p> <p>In fact, these specialized plans allow you to save significantly more than you could with traditional retirement accounts. That's because self-employed workers typically don't have the employer contributions and match benefits that many traditionally employed workers enjoy. By contributing to one of these accounts, you can save a ton in taxes this year with an upfront tax break and tax-deferred growth.</p> <h2>SEP IRA</h2> <p>The Simplified Employee Pension (SEP) IRA plan is similar to a traditional IRA, but does not have the high start-up or operating costs of a conventional retirement plan. Instead, there are low administrative costs, and the plan is simple to operate. Any contributions you make to your SEP IRA are with pre-tax funds. You will be required to take a minimum distribution at age 70 &frac12;. (See also: <a href="http://www.wisebread.com/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss?ref=seealso">The SEP-IRA Is How the Self-Employed Do Retirement Like a BOSS</a>)</p> <h3>Maximum Contribution Amount</h3> <p>$53,000 per year ($59,000 if you're age 50 or older), or 20% of your net earnings from self-employment.</p> <h3>Tax Advantages</h3> <p>Contributing to your SEP IRA can lower the amount of income you pay taxes on now. Once you retire, your withdrawals will be taxed at your ordinary income tax rate. If you make withdrawals before age 59 &frac12;, there will be an additional 10% early withdrawal penalty fee added. You may also be eligible for a <a href="http://www.dol.gov/ebsa/publications/SEPPlans.html">tax credit of up to $500</a> per year for the first three years to cover the cost of starting the plan.</p> <h2>SIMPLE IRA</h2> <p>The Savings Incentive Match Plan for Employees (SIMPLE) IRA Plan allows both the employee and employer to contribute. Contributions are on a pre-tax basis, and you will be required to take a minimum distribution at age 70 &frac12;.</p> <h3>Maximum Contribution Amount</h3> <p>$12,500 per year, $15,500 if you're age 50 or older, plus an employer contribution of 3% of income.</p> <h3>Tax Advantages</h3> <p>Contributing to your SIMPLE IRA can lower the amount of income you pay taxes on now. Once you retire, your withdrawals will be taxed at your ordinary income tax rate. If you make withdrawals before age 59 &frac12;, there will be an additional 10% early withdrawal penalty fee added. The penalty is 25% if you make withdrawals within the first two years of participating in the plan.</p> <h2>Individual or Solo 401K</h2> <p>This is very similar to a traditional 401K plan, with lower maintenance charges. Any contributions you make to your self-directed 401K plan are with funds you haven't been taxed on yet. You will be required to take a minimum distribution at age 70 &frac12;.</p> <h3>Maximum Contribution Amount</h3> <p>$18,000 per year ($24,000 if you're age 50 or older). With a <a href="https://www.fidelity.com/retirement-ira/small-business/self-employed-401k/overview">profit sharing contribution</a>, business owners can contribute up to 20%&ndash;25% of the business earnings. The total contribution limit is $53,000 per year ($59,000 if you're age 50 or older).</p> <h3>Tax Advantages</h3> <p>Contributing to an Individual or Solo 401K plan can lower the amount of income you pay taxes on now. Once you retire, your withdrawals will be taxed at your ordinary income tax rate. If you make withdrawals before age 59 &frac12;, there will be an additional 10% early withdrawal penalty fee added.</p> <h2>Which One Is Right for You?</h2> <p>If you aren't sure about which self-employed retirement account is right for you, consider speaking with a financial adviser. They can help you make informed decisions based on your financial situation and retirement goals. You can also use a simple <a href="https://scs.fidelity.com/products/mobile/sepMobile.shtml">self-employed plan contribution calculator</a> to determine which plan may be right for your scenario.</p> <h2>Don't Wait to Sign Up</h2> <p>Don't wait any longer to start investing. The sooner you get your retirement plan going, the sooner you can begin taking advantage of compound interest. (Visit the <a href="https://www.irs.gov/Retirement-Plans/Retirement-Plans-for-Self-Employed-People">IRS' website</a> for information on how to set-up one of these plans.) Most self-employed workers claim that their lack of preparation for retirement is due to their limited budget. However, nearly all retirement experts agree on one thing: It doesn't matter how much you're saving for retirement, as long as you're saving.</p> <p><em>Do you have other tips for choosing the right self-employed retirement plan? Please share your thoughts in the comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/andrea-cannon">Andrea Cannon</a> of <a href="http://www.wisebread.com/a-simple-guide-to-retirement-plans-for-the-self-employed">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-biggest-mistakes-freelancers-make">The 5 Biggest Mistakes Freelancers Make</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss">The SEP-IRA Is How the Self-Employed Do Retirement Like a BOSS</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-signs-you-arent-saving-enough-for-retirement">10 Signs You Aren&#039;t Saving Enough for Retirement</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-self-employed-persons-guide-to-getting-credit">The Self-Employed Person&#039;s Guide to Getting Credit</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-times-its-okay-to-delay-retirement-savings">5 Times It&#039;s Okay to Delay Retirement Savings</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Retirement 401k freelance individual 401 k self-employed SEP IRA SIMPLE IRA solo 401k Fri, 06 May 2016 09:30:20 +0000 Andrea Cannon 1703114 at http://www.wisebread.com 5 Lessons That Teach Your Kid to Be Their Own Boss http://www.wisebread.com/5-lessons-that-teach-your-kid-to-be-their-own-boss <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-lessons-that-teach-your-kid-to-be-their-own-boss" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/kids_lemonade_stand_000082855427.jpg" alt="Kids learning lessons that teach them to be their own boss" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Even if you don't want &mdash; or expect &mdash; your child to be in business for themselves, fostering an entrepreneurial spirit can be beneficial in many ways. Strong leadership skills and confidence can go a long way, no matter what career path your child ends up pursuing.</p> <h2>1. Teach Kids the Importance of Passion and Purpose</h2> <p>Ask your child what their wildest dreams are, and what they would do for the rest of their lives, even if it didn't make much money. The point is to see what they are passionate about. While not every passion of theirs will be profitable, it is important for them to pursue something they love so that they don't experience burn out later in life.</p> <p>Teach them to chase fulfillment rather than a filled wallet. For example, if they are really interested in being an EMT and helping people, but choose to pursue being a lawyer because it means more money, then they will feel unsatisfied with their lives no matter how much money they make.</p> <h2>2. Goal Setting Is a Must</h2> <p>Setting goals is more than just picking random resolutions in the beginning of the year. The act of goal setting is essential for developing discipline and giving a child the first taste of success.</p> <p>What kind of goals can your children have? Start with goals that center around what your children love and find interesting. For example, if your child loves to read or is on the soccer team, set slightly challenging goals that they will enjoy working at, such as reading two books in a week or scoring goals in consecutive games.</p> <p>As your children become more interested in goal setting, set goals for their weaker areas, such as getting an A or B on the next math test or keeping their room clean for a week. Your child will understand that continually setting goals helps shape them into the person they wish to be &mdash; and it can be fun. Goal setting can dramatically improve every area of an individual's life, so don't underestimate the importance of it.</p> <h2>3. Encourage Creative Thinking and Problem-Solving</h2> <p>When your child comes to you with a complaint or problem, encourage them to think outside the box on how to solve it. Maybe their problems include keeping their lunch warm or dealing with another kid who teases them at school. Brainstorm possible solutions to each problem, encouraging both logical and off-the-wall solutions.</p> <p>Some of the most successful people today are individuals that solved a problem with a unique or out-of-the-box idea.</p> <h2>4. It's Never Too Early to Teach Networking</h2> <p>Effective communication skills are essential for building up relationships. Kids naturally think and talk about themselves all of the time. Many adults have this same problem, too. The issue with this is that they miss opportunities to connect and learn from others. Encourage your children to ask others thought-provoking and non-invasive questions that others will love to answer. Have your children try these simple questions out on adult family members and family friends:</p> <ul> <li>What is your favorite thing about your job?<br /> &nbsp;</li> <li>What would you tell your x-year-old self (using your child's age)?<br /> &nbsp;</li> <li>What do you wish you learned in school if you could learn anything?</li> </ul> <p>These questions are meant to teach your children how to engage others in a thoughtful discussion, while practicing deeper listening skills. They might even learn something along the way. Sadly, most teens and young adults are well-versed in text messaging and social media, but cannot effectively network in person.</p> <h2>5. Get Hands-On Experience</h2> <p>While teaching goal setting and effective communication are essential, it is also important to jump into a small business to get hands-on experience. The business does not have to be the next greatest thing or one that is time-consuming. Try starting a weekend lawn service, pet walking service, or a mobile car washing business. Be sure to understand the child labor laws and income limits for your area before starting.</p> <p>The goal is to have your child to think about advertising, gaining clients, keeping clients, and working hard. While making a few bucks on the side will be a great incentive for your child, the real lessons come from doing. Even a failed business will teach your child or teen valuable lessons.</p> <p>Growing an entrepreneurial spirit in your child is a slow and steady process. Schools are so great at teaching children how to read and do complicated math equations, but when it comes to fostering an entrepreneurial spirit, many schools do not even touch on those valuable lessons. (See also: <a href="http://www.wisebread.com/7-places-teens-and-adults-can-learn-about-money?ref=seealso">7 Places Teens (And Adults) Can Learn About Money)</a></p> <p><em>How have you helped encourage an entrepreneurial and business-savvy spirit in your child or teen? </em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/5-lessons-that-teach-your-kid-to-be-their-own-boss">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-top-money-lessons-to-learn-from-ruth-soukups-unstuffed">4 Top Money Lessons to Learn From Ruth Soukup&#039;s &quot;Unstuffed&quot;</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-sell-your-kids-stuff-at-a-consignment-sale">How to Sell Your Kid&#039;s Stuff at a Consignment Sale</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-use-new-toys-to-teach-kids-about-money">How to Use New Toys to Teach Kids About Money</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-reasons-frugal-families-love-boardgame-night">8 Reasons Frugal Families Love Boardgame Night</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/best-kids-eat-free-restaurants">Best Kids Eat Free Restaurants</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Family creative thinking entrepreneurial skills finding passion goal setting jobs kids lessons teens Tue, 12 Apr 2016 09:00:07 +0000 Ashley Eneriz 1687116 at http://www.wisebread.com 7 Things I Learned About Money After I Went Freelance http://www.wisebread.com/7-things-i-learned-about-money-after-i-went-freelance <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-things-i-learned-about-money-after-i-went-freelance" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000085246475_Large.jpg" alt="things she&#039;s learned about money after going freelance" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Accurately or inaccurately, I've always considered myself a financially savvy guy. I avoid consumer debt like a pro, keep my wants in check, get all OCD about saving for retirement, and hunt for bargains like a steely-eyed warrior. But when I decided to chuck my 9-5 job eight years ago and commit to building a freelance business, I realized that I still had some serious learning to do. My new venture taught me a few brand-new money lessons and served as a refresher course on others. Here are seven things I learned about money once I went freelance.</p> <h2>1. There's Power in Profit</h2> <p>In a traditional work arrangement, a company produces a good or service and the management team determines how much employees can be paid in order to safeguard or maximize profits. Once you become your own employer, the distinction between payment and profit blurs &mdash; to your benefit. If you control costs and price your labor correctly, the profit can be a powerful force to fund expansion, pursue additional training, or enjoy more free time.</p> <h2>2. Budget or Go Bust</h2> <p>Especially in the early days of any freelance business, income can be unpredictable. That's why knowing how to <a href="http://www.wisebread.com/build-your-first-budget-in-5-easy-steps">build a budget</a> and live within it takes on a whole new level of importance. A well-structured monthly budget should leave a financial cushion to help you ride out late payments, adjust to unforeseen expenses, and squirrel away money for taxes.</p> <h2>3. Stay Lean</h2> <p>No matter how dogged your determination, lean months are inevitable in any one-person enterprise. Planning ahead, keeping overhead in check, and staying financially disciplined are make-or-break strategies. I apply the same principles to freelancing as I do to traditional employment &mdash; in today's economy, it's smart to be prepared for a layoff at any time and have six months' worth of income set aside for cash flow interruptions.</p> <h2>4. The Taxman Cometh</h2> <p>When I became a one-man enterprise, the level of importance I placed on income tax awareness went from about a two to a solid 10. As part of the freelancing set, your tax obligations can change significantly. Learn all you can and retain a trusted tax advisor who caters to the self-employed. (See also: <a href="http://www.wisebread.com/freelancing-a-beginner-s-guide-to-doing-it-right?ref=seealso">Freelancing: A Beginner's Guide to Doing It Right</a>).</p> <h2>5. Income Is Fluid and Largely Controllable</h2> <p>Money is just labor in physical form, right? As much as I knew this before, going solo helped me understand it far more profoundly. Once my freelance career gained traction, I realized that I had control over my income in a new and direct way, and I could exercise that control to increase my billings and, in turn, grow my savings.</p> <h2>6. Negotiating Skills Are Non-Negotiable</h2> <p>Whether you're buying or selling, negotiating helps you get the best deal possible and it's one of the essential <a href="http://www.wisebread.com/8-life-skills-every-freelancer-needs">life skills every freelancer needs</a>. Freelancing full-time has challenged my negotiation skills and forced me to take my skill level from &quot;proficient&quot; to &quot;expert.&quot; Negotiating tactical discounts to forge new client relationships, working out the details of retainer agreements, and establishing realistic project timelines require flexibility and fortitude.</p> <h2>7. The Devil's in the Details</h2> <p>As with all things financial, the details matter. Keeping track of contracts, hours, rates, outstanding invoices, and expenses means the difference between success and failure. Likewise, knowing how to project income from month-to-month based on accurate record-keeping helps me plan for major expenditures, invest in my business, and pay estimated taxes each quarter. (See also: <a href="http://www.wisebread.com/16-time-and-money-saving-apps-for-freelancers?ref=seealso">16 Time and Money Saving Apps for Freelancers</a>).</p> <p>Remember, we keep learning (and relearning) money lessons as our lives and careers evolve. And when it comes to freelancing, experience is a quick and able teacher. The goal is be open to the lessons and broadly apply what we learn to build more financially independent lives.</p> <p><em>Do you work freelance? What has it taught you about making and managing money? </em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/7-things-i-learned-about-money-after-i-went-freelance">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-freelance-jobs-that-pay-surprisingly-well">11 Freelance Jobs That Pay Surprisingly Well</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-biggest-mistakes-freelancers-make">The 5 Biggest Mistakes Freelancers Make</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-unexpected-side-benefits-of-your-side-hustle">5 Unexpected Side Benefits of Your Side Hustle</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-you-can-earn-18-to-25-an-hour-with-amazon-flex">How You Can Earn $18 to $25 an Hour With Amazon Flex</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/can-you-really-make-a-living-as-an-ebook-writer">Can You Really Make a Living as an Ebook Writer?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career Building Entrepreneurship Extra Income freelance freelancer hustle independent contractor money lessons side gig side job Mon, 21 Mar 2016 09:30:25 +0000 Kentin Waits 1675899 at http://www.wisebread.com 11 Freelance Jobs That Pay Surprisingly Well http://www.wisebread.com/11-freelance-jobs-that-pay-surprisingly-well <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/11-freelance-jobs-that-pay-surprisingly-well" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000063634661_Large.jpg" alt="working a freelance job that pays surprisingly well" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Freelancing seems to be the new &quot;in&quot; thing. Whether you're considering going freelance full-time or using it to supplement your income, choosing your field is important. Not only do you want to choose something, preferably, in which you have some experience and training, but you want to make enough money to make the job worth your time.</p> <p>I've found that a lot of people think that freelancers don't make much money. The truth is, about half of all freelancers made between <a href="https://www.mbopartners.com/state-of-independence">$25,000 and $75,000</a> in 2015. You can live on that, and even support a family on the higher end. And if you're adding that to your regular income, it's quite a boost.</p> <p>If you want to make that much, though, you need to be smart. Here are some of the best paying freelance careers around, and some of them might surprise you! (See also: <a href="http://www.wisebread.com/8-life-skills-every-freelancer-needs?ref=seealso">8 Life Skills Every Freelancer Needs</a>)</p> <h2>1. Marketing</h2> <p>Have a background in marketing? You could make <a href="http://elance-odesk.com/online-work-report-global">between $46 and $52 per hour</a> working freelance. You'll probably be involved in forming overall strategies for brands, utilizing social and other forms of media, and working on relationships with customers. Find a company that loves you, and you may have a flexible, long-term job.</p> <h2>2. Voice Acting</h2> <p>Have you always wanted to act? Or maybe people keep telling you that you have a wonderful voice. Either way, consider <a href="http://time.com/money/4023097/freelance-economy-facts-stats/">getting into voiceover work</a> as a freelancer. You could earn up to $72 per hour. A lot of companies are trying to use more videos in their advertising, because people seem to respond to video better than to print, so this is also a growing industry.</p> <h2>3. Recruiting</h2> <p>Do you enjoy looking for new talent? Consider taking your skills as a recruiter into the freelance world. Many business are finding that it's more cost-effective to hire a freelancer or a freelance team to find new hires, rather than doing that in-house. It's nice for you, too, because you can make an average of $46 per hour.</p> <h2>4. Programmer</h2> <p>Computer programming is one of those things you can do from anywhere, as long as you have a computer and an Internet connection. If you already know how to program, it's even better for you, because you have experience and a portfolio. But even if you're just starting out, there are a million places on the Internet where you can learn to program. Once you're ready, you can make about $60 an hour as a freelance programmer.</p> <h2>5. Infographic Design</h2> <p>Do you like design? Consider specializing in infographics and make up to $65 per hour. Infographics are all the rage lately, because people love to see their information &mdash; particularly stats &mdash; rather than just reading about it. The more complicated the information, the more helpful it is to give people a way to visualize it. Study popular infographics, try a few, then search for jobs where you can apply your new skills.</p> <h2>6. Writing</h2> <p>It seems like everyone has something to say these days, and most people don't have enough time to say it. That's where the freelance writer comes in. Whether you focus on <a href="http://www.businessinsider.com/highest-paying-jobs-you-can-do-from-home-2015-8">financial writing</a>, advertising, blogging, or something else, good freelance writers can make about $55 an hour, depending on the assignment. Do beware, though: there are many, many low paying freelance writing gigs out there. Hone your skills and do your research so you don't end up making a lot less than you should.</p> <h2>7. Search Engine Optimization</h2> <p>Whether you have the skill set already or not, consider becoming a search engine optimization specialist. Even just starting out, you can make up to $50 per hour. And when you make a name for yourself, you can make even more. Get started by doing some research in the field, to see if it's something you're interested in.</p> <h2>8. Translation</h2> <p>If you're lucky enough to know two (or more) languages, there are translation gigs out there for you! Translating to and from Korean pays well, as does <a href="http://elance-odesk.com/online-work-report-global">Spanish-English translation</a>, but there are opportunities for almost every language combination you could have. Make anywhere from $25 to $40 an hour, depending on the task, your skill level, and the languages involved.</p> <h2>9. Legal Work</h2> <p>If you're trained as a lawyer, you can make quite a bit of money working freelance. Patent lawyers can demand $112 per hour, intellectual property lawyers up to $120 an hour, and run-of-the-mill legal consulting pays about $70 an hour. Even if you don't practice law all the time, if you have the training and the certifications, it can be a lucrative freelance career.</p> <h2>10. Internet Security</h2> <p>All of the big data breaches that have made the news mean that freelance Internet security specialists are in demand, and can make over $50 per hour. If this is something you already know a lot about, why not pick up a gig or two and see how it goes? And if it's not something you already know, it might even be worthwhile to consider learning it, if you want a freelance field that isn't going to dry up anytime soon.</p> <h2>11. Photography</h2> <p>Sometimes, it seems like everyone and their mother wants to set up shop as a freelance photographer. But if you like the work and you're good at it, there's no reason not to give it a go. After all, professional wedding photographers often start at around $2,000, depending on the market. Once you're well-known, you can charge even more. As a bonus, some wedding photographers even get invited to exotic destination weddings. Score!</p> <p><em>Are you a freelancer? What kinds of gigs have you gotten? Share with us in the comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/11-freelance-jobs-that-pay-surprisingly-well">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-things-i-learned-about-money-after-i-went-freelance">7 Things I Learned About Money After I Went Freelance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-you-can-earn-18-to-25-an-hour-with-amazon-flex">How You Can Earn $18 to $25 an Hour With Amazon Flex</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-biggest-mistakes-freelancers-make">The 5 Biggest Mistakes Freelancers Make</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/17-part-time-jobs-to-do-while-your-kids-are-at-school">17 Part-Time Jobs to Do While Your Kids Are at School</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-side-jobs-for-athletic-types">9 Side Jobs for Athletic Types</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Extra Income freelance gigs freelance job freelancer gig economy high-paying job side job Mon, 07 Mar 2016 10:01:03 +0000 Sarah Winfrey 1667923 at http://www.wisebread.com Chase Ink Cash Business Credit Card Review http://www.wisebread.com/chase-ink-cash-business-credit-card-review <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/chase-ink-cash-business-credit-card-review" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000017853792_Small.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="188" /></a> </div> </div> </div> <p>In addition to a variety of highly-rated consumer credit cards, Chase also offers popular business credit cards. If you're a small business owner looking for a way to easily earn cash back on business-related purchases, the Chase Ink Cash Business Credit Card may be the card for you. (See also: <a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses?ref=seealso">The 5 Best Credit Cards for Small Businesses</a>)</p> <h2>Why We Like This Card</h2> <ul> <li>$200 sign-up bonus</li> <li>Up to 5% cash back on office expenses</li> </ul> <h2>How This Card Works</h2> <p>This card offers 5% cash back on office supply store purchases, cellular phone, landline, internet, and cable TV services on up to $25,000 in combined purchases every year. You can also earn 2% cash back at gas stations and restaurants on up $25,000 in combined purchases each year, and 1% cash back on all other purchases made with the card. You'll earn 1% cash back after you reach the $25,000 limit each year. There's no limit to the cash back you can earn, and your cash back rewards will never expire. There is no annual fee.</p> <p><strong>Sign-up offer</strong>: Earn $200 bonus cash back after spending $3,000 on purchases in the first three months after account opening. 0% intro APR on purchases and balance transfers for 12 billing cycles, then 13.49%-19.49% variable APR.</p> <p>This card awards cash back in the form of points with one point being equal to one cent. You can redeem your points for cash at 2,000 points for a $20 statement credit or electronic deposit into a checking or savings account. You can also redeem for travel or gift cards through Chase Ultimate Rewards. If you redeem for gift cards you can earn a 10% discount. As an example, you could redeem 4,500 points, which normally have a $45 cash value, for a $50 gift card. There is also an opportunity to pay for all or part of your Amazon.com purchases with points.</p> <h2>Other Benefits</h2> <p><strong>Free employee cards</strong>. Earn more cash back by providing your employees their own cards.</p> <p><strong>Ink App</strong>. As a cardmember, you'll receive access to the Ink App, which allows you to track your purchases and your employees' purchases. You can also access reports and snap photographs, save, and download receipts for convenient organization of business expenses. The Ink App also lets you tag purchases with customizable categories, making end of the year accounting simpler.</p> <p><strong>Purchase protection</strong>. Purchases made with this card are protected 120 days against damage or theft up to $10,000 per claim and $50,000 per account.</p> <p><strong>Extended warranty</strong>. Extended warranty protection covers your purchases on the card for an additional year on U.S. manufacturers' warranties of three years or less.</p> <p><strong>Chase Blueprint</strong>. Available only on certain Chase credit cards, the Chase Blueprint feature allows you to separate your purchases and choose to avoid interest charges by paying certain expenses in full, or you can designate a monthly payment plan to pay your balance down faster. Blueprint also provides reports with spending trends so you can see where you are spending the most.</p> <h2>Costs</h2> <ul> <li>$0 Annual Fee</li> <li>13.49%-19.49% variable APR (0% intro APR on purchases and balance transfers for the first 12 billing cycles after your account opening.)</li> <li>5% Balance Transfer Fee ($5 minimum)</li> <li>3% Foreign Transaction Fee</li> </ul> <h2>Pros</h2> <p><strong>Sign-up bonus</strong>. If you spend $3,000 with your card within the first three months of opening the account, you can receive a bonus worth $200. This bonus is one of the most valuable cash rewards offered with a credit card, especially among those without annual fees. (See also: <a href="http://www.wisebread.com/5-best-credit-cards-that-offer-bonus-cash-for-sign-up?ref=seealso">5 Best Credit Cards That Offer Bonus Cash for Sign Up</a>)</p> <p><strong>0% introductory APR</strong>. If you need to transfer a balance from a high APR card or make a large purchase to get your business going, you'll have 12 months to pay down the balance without the added expense of interest with this card. The introductory APR not only saves you money but is also one of the longest introductory periods for both balance transfers and purchases being offered by business credit cards. (See also: <a href="http://www.wisebread.com/the-best-0-balance-transfer-credit-cards?ref=seealso">The 5 Best Credit Cards with 0% Intro APR</a>)</p> <p><strong>5% cash back on business purchases</strong>. You can earn as much as 5% cash back in a broad range of business-related expenses, which can help cut the costs in those categories. Business credit cards offering 5% cash back on office supply purchases specifically are limited. (See also: <a href="http://www.wisebread.com/best-credit-cards-for-office-supply-purchases?ref=seealso">The 5 Best Credit Cards for Office Supply Purchases</a>)</p> <h2>Cons</h2> <p><strong>Cap of $25,000 on bonus categories</strong>. If your expenses in either the 5% or 2% categories total more than $25,000 per anniversary year, those purchases will only earn 1% cash back once you reach the cap. If your purchases in those reward categories are typically more than $25,000 per year, you might earn more cash back with the Chase Ink Plus credit card which allows you to earn bonus cash back in those categories for up to $50,000 in purchases per year. (See also: <a href="http://www.wisebread.com/5-best-cash-back-credit-cards?ref=seealso">The 5 Best Cash Back Credit Cards</a>)</p> <p><strong>Foreign transaction fee</strong>. If the majority of your business expenses are foreign transactions or if your business requires traveling abroad, those purchases will incur a fee of 3%, which cancels out a large amount of the rewards you earn. If your expenses are primarily international, you should instead consider a business credit card such as the Capital One Spark Cash Business, which also offer rewards on business purchases, but do not charge foreign transaction fees. (See also: <a href="http://www.wisebread.com/smarter-security-and-no-foreign-transaction-fees-the-best-credit-cards-to-use-while-on-vacation?ref=review?ref=seealso">The 5 Best Credit Cards with No Foreign Transaction Fees</a>)</p> <p><strong>High balance transfer fee. </strong>Most credit cards charge a balance transfer fee of 3%. This card has a 5% fee, which takes away part of the benefit of transferring a balance (to save as much as possible on interest). Depending on the interest you're currently paying, and other options you might have for <a href="http://www.wisebread.com/the-best-0-balance-transfer-credit-cards">transferring a balance at 0% APR</a>, this might not be the best card for that. (See also: <a href="http://www.wisebread.com/5-best-credit-cards-with-no-balance-transfer-fees?ref=seealso">Best Cards with $0 Balance Transfer Fee</a>)</p> <h2>Who This Card Is Best For</h2> <p>The Chase Ink Cash Business Credit Card is best for small business owners who spend less than $25,000 per year in office supply store, cable, internet, cell phone, gas, or restaurant purchases in order to earn the most cash back. This card is also best for those whose business expenses are more office related rather than travel related and are primarily domestic purchases, and it can be especially ideal for those who are just getting their businesses going or plan on a large purchase right away thanks to the card's sign-up bonus and introductory APR offers.<strong><br /> </strong></p> <p><em>The information related to Chase Ink Cash Business credit card has been collected by Wise Bread and has not been reviewed or provided by the issuer of this card.</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/christina-majaski">Christina Majaski</a> of <a href="http://www.wisebread.com/chase-ink-cash-business-credit-card-review">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/chase-sapphire-preferred-review">Get The Most Value For Your Travel Rewards with the Chase Sapphire Preferred Card</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/get-more-points-for-business-purchases-with-the-chase-ink-plus-business-credit-card">Get More Points for Business Purchases with the Chase Ink Plus Business Credit Card</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/when-you-should-get-a-business-credit-card-over-a-consumer-card">When You Should Get a Business Credit Card Over a Consumer Card</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/chase-credit-card-offers-applications-reviews">Chase Credit Card Offers: Applications &amp; Reviews</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/get-cash-back-for-every-purchase-chase-freedom-unlimited-review">Get Cash Back for Every Purchase: Chase Freedom Unlimited Review</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards Entrepreneurship chase credit card reviews Thu, 28 Jan 2016 18:29:18 +0000 Christina Majaski 1645521 at http://www.wisebread.com The Top 7 Blogs for Entrepreneurs http://www.wisebread.com/the-top-7-blogs-for-entrepreneurs <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-top-7-blogs-for-entrepreneurs" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_coffee_shop_000079380831.jpg" alt="Woman reading best blogs for entrepreneurs" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Time is money. Nobody understands that better than U.S entrepreneurs and business owners. When asked on Reddit about the most painful problems they face on a day-to-day basis, most business owners complained about time &mdash; time to meet deadlines at a neck-breaking pace, time to collect payments from clients, time to keep the company books up to date.</p> <p>Still, entrepreneurs and business owners know the importance of keeping up with the latest developments in entrepreneurship and learning from successful business leaders. For those that can't afford sitting down to read an entire book, here are the seven best blogs for entrepreneurs.</p> <h2>1. Seth's Blog</h2> <p>Efficient and effective are the best words to describe the blog posts from marketing expert Seth Godin. He has authored several bestsellers on marketing, such as <a href="http://www.amazon.com/gp/product/0684856360/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0684856360&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=WXHTSPV7ZMULTXRA">Permission Marketing</a> and <a href="http://www.amazon.com/gp/product/1591843170/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591843170&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=S77KRX62DUNYSA3C">Purple Cow</a>, and on entrepreneurship, such as <a href="http://www.amazon.com/gp/product/B001FA0LAI/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=B001FA0LAI&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=BZOKCESTJLA7JT2P">Tribes</a> and <a href="http://www.amazon.com/gp/product/1591846072/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591846072&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=OCBV4XHWH3SZU5BX">The Icarus Deception</a>.</p> <p>At <a href="http://sethgodin.typepad.com">Seth's Blog</a>, you can find tips on many business topics, including how to create additional revenue streams from freelancing, why it's important to maintain high quality at all times, and how to purchase advertising. Most of Godin's posts take less than five minutes to read, but they are guaranteed to get you thinking about key issues in entrepreneurship.</p> <h2>2. Occam's Razor</h2> <p>In his book <a href="http://www.amazon.com/gp/product/0470130652/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0470130652&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=XBJ67YJCGANGKXDI">Web Analytics: An Hour a Day</a>, Avinash Kaushik provides a step-by-step guide on successful web analytics strategy for your business website. And as search engines tweak their search algorithms on a rolling basis and emerging social media companies rule the Internet, some data and processes require constant revision.</p> <p>At the <a href="http://www.kaushik.net">Occam's Razor blog</a>, Kaushik provides analysis of important web analytics and digital marketing topics for entrepreneurs, such as how to use social media as a business. Unlike other bloggers, Kaushik backs up all his claims with actual data (he's a self-professed &quot;web analytics ninja,&quot; after all!), utilizes plenty of screenshots (particularly useful for users of Google Analytics), and provides actionable takeaways. (See also:&nbsp;<a href="http://www.wisebread.com/5-easy-ways-to-make-extra-money-blogging">5 Easy Ways to Make Extra Money Blogging</a>)</p> <h2>3. Guy Kawasaki's Blog</h2> <p>Known as the father of evangelism marketing for his work with Apple in the early '80s, Guy Kawasaki is a prolific businessman and author. With 1.69 million followers on LinkedIn and 1.46 million followers on Twitter, Kawasaki is a thought leader in entrepreneurship, marketing, and PR.</p> <p>While <a href="http://guykawasaki.com/blog">Kawasaki's blog</a> skews a bit towards tech startups, his writing is still applicable to other industries. For example, he provides insights on the<a href="http://guykawasaki.com/how-to-launch-and-why-scaling-doesnt-matter/"> importance of scale in business</a>, guidelines on how to <a href="http://guykawasaki.com/the-art-of-the-panel/">excel at a conference panel</a>, and tips for <a href="http://guykawasaki.com/ten-easy-ways-to-make-your-pitch-rock/">making your pitch rock</a>.</p> <h2>4. 500 Hats</h2> <p>A member of the famous &quot;PayPal Mafia&quot; (he was the Director of Marketing at PayPal from 2001 to 2004), Dave McClure is a prominent entrepreneur and angel investor. McClure knows his stuff and helps run a fund that makes investments ranging from $50,000 to $500,000 in startups. At his blog <a href="https://500hats.com/">500 Hats</a> (one of the most-read blogs by venture capitalists, according to the Wall Street Journal), he provides an inside view into the world of venture capitalism and angel investing.</p> <p>For those looking to launch or optimize their startup, developing a good understanding of what investors are looking for in a startup is essential for survival. Startup owners can learn what makes investors tick at McClure's current and previous blog (<a href="http://500hats.typepad.com">Master of 500 Hats</a>).</p> <h2>5. Gary Vaynerchuk's Blog</h2> <p>Owners of family businesses will find <a href="http://www.garyvaynerchuk.com/blog/">Gary Vaynerchuk</a> to be an inspiration. In just five years, he took his family wine business from a respectable $3 million revenue operation to a $60 million revenue powerhouse.</p> <p>Vaynerchuk is a big fan of no-nonsense advice and his blog is proof of that. Every single one of his posts provides an estimate of how long it will take you to read it (most reads are under four minutes). In addition of his blog, check out his <a href="https://www.youtube.com/playlist?list=PLfA33-E9P7FC0AoARnMLvgFgESJe4_Ngs">#AskGaryVeeShow</a> on YouTube in which he answers questions about marketing, social media, and entrepreneurship submitted via Twitter.</p> <h2>6. Kabbage Small Business Blog</h2> <p>When you're a small business owner, you have a lot of questions. A great place for finding the answer to many of those questions is the Kabbage <a href="http://www.kabbage.com/blog/">Small Business Blog</a>. <em>(Disclaimer: Until December 2015, I contributed to this blog.)</em> What makes this blog stand out from others is that it caters to minority small business owners, offering advice on finding funding options and providing success stories from peers.</p> <p>From determining when you have enough money to <a href="https://www.kabbage.com/blog/do-you-have-enough-money-to-hire-your-first-employee/">hire your first employee</a>, to how to <a href="https://www.kabbage.com/blog/webinar/3-steps-to-improve-your-business-credit-report-establish-build-monitor/">improve your business credit score</a>, to where to find <a href="http://www.kabbage.com/blog/11-grants-for-women-owned-businesses-you-need-to-know-about/">grants for women-owned businesses</a>, the Small Business Blog covers a wide variety of topics relevant to small business owners of all backgrounds.</p> <h2>7. Brian Solis</h2> <p>A digital analyst, anthropologist, and futurist, Brian Solis keeps an eye on the latest technological developments and their effects on business and marketing. Solis constantly seeks ways that businesses can leverage technology to improve the customer experience.</p> <p>On the <a href="http://www.briansolis.com/#">Brian Solis blog</a>, you will find tips on how to deliver a better customer service experience, such as to stop <a href="http://www.briansolis.com/2015/02/deliver-great-customer-experience-stop-focusing-customer/">making unsupported assumptions</a> about your customers and to deliver a <a href="http://www.briansolis.com/2015/07/creating-truly-personal-omni-channel-customer-experiences-2/">consistent customer experience</a> across all channels. This is key because, after all, without customers you won't have a business.</p> <p><em>What are your favorite blogs on entrepreneurship?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/the-top-7-blogs-for-entrepreneurs">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-8-best-books-for-entrepreneurs">The 8 Best Books for Entrepreneurs</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-clever-ways-people-are-making-money-from-pok-mon-go">8 Clever Ways People Are Making Money From Pokémon GO</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-life-skills-every-freelancer-needs">8 Life Skills Every Freelancer Needs</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-to-fund-your-new-business-without-borrowing-a-dime">4 Ways to Fund Your New Business Without Borrowing a Dime</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/over-7-million-money-making-ideas-google-patents">Over 7 million money-making ideas - Google Patents</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship blogs books inspiration small businesses time management Wed, 06 Jan 2016 14:00:04 +0000 Damian Davila 1630354 at http://www.wisebread.com The 8 Best Books for Entrepreneurs http://www.wisebread.com/the-8-best-books-for-entrepreneurs <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-8-best-books-for-entrepreneurs" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_reading_books_000047674572.jpg" alt="Woman reading best books for entrepreneurs" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>America is truly the land of opportunity.</p> <p>According to a study sponsored by Babson College and Baruch College, the U.S. now has <a href="http://www.inc.com/leigh-buchanan/us-entrepreneurship-reaches-record-highs.html">27 million entrepreneurs</a> (about 14% of the total population). And many of these American entrepreneurs are thriving &mdash; 24% of them expect to employ 20 or more people in the next five years.</p> <p>If you want to learn the ropes of entrepreneurialism, real-life experience is your best bet, but reading on the subject can also provide you with essential insights necessary for success. Whether you're an aspiring entrepreneur eager to become your own boss, or a seasoned business owner seeking to take your startup to the next level, here are the eight best books to help you on your business venture.</p> <h2>1. Four Steps to the Epiphany</h2> <p>Often referred as the father of the Lean Startup revolution, Steve Blank is a seasoned entrepreneur (starting eight high-tech companies over 21 years), entrepreneurship author, and professor (U.C. Berkeley, Stanford University and the Columbia University/Berkeley joint MBA program). In <a href="http://www.amazon.com/gp/product/0989200507/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0989200507&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=JOMQJOOX36JE3RHG">The Four Steps to the Epiphany</a>, Blank explains the practical and proven four-step customer development process, which is key to launching and maintaining a sustainable startup.</p> <h2>2. Web Analytics: An Hour a Day</h2> <p>Don't undermine your business venture by leaving it offline. According to a Google and Ipsos survey of more than 3,800 small businesses, 58% of them <a href="http://www.inc.com/associated-press/small-businesses-have-no-website.html">didn't have a website</a>. But setting up a website is just the first step &mdash; you also need to understand how it performs. For this, you should leverage web analytics, which is the process of using data to assess and improve the effectiveness of a site. Learn from world-renowned analytics expert Avinash Kaushik through his book <a href="http://www.amazon.com/gp/product/0470130652/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0470130652&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=VJ5XWHMCML7YFWJ5">Web Analytics: An Hour a Day</a>. As its name implies, Kaushik's book provides a daily guide to understanding and applying advanced analytics concepts, including SEM/PPC analysis, the power of segmentation, and conversion-rate best practices. Learn to leverage quick-start solutions for all types of sites, such as small business websites, blogs, and digital storefronts.</p> <h2>3. Tribes</h2> <p>In a perfect world, any entrepreneur would want their customers to be as fanatical as Apple's, Disney's, or The Burger Shack's. Marketing expert Seth Godin shows you the key to using the Internet to create your own customer &quot;tribe&quot; in his book <a href="http://www.amazon.com/gp/product/1591842336/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591842336&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=6GTHPVAX5EFP3QG2">Tribes: We Need You to Lead Us</a>. From detailed best practices, you'll learn how to craft your own manifesto, make it easy for your members to connect to you and one another, and track your movement's progress.</p> <h2>4. Zero to One</h2> <p>You may have heard the name of Peter Thiel before. Whether it was as one of the co-founders of PayPal in 1998 or the first outside investor in Facebook (a 10.2% stake acquired in 2004 for $500,000), you know that Thiel means serious business. In his New York Times bestseller <a href="http://www.amazon.com/gp/product/0804139296/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0804139296&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=SXVPOOHLWSSE5PB5">Zero to One: Notes on Startups, or How to Build the Future</a>, Thiel outlines unique and practical insights about entrepreneurship, and discusses success in terms of human nature and culture. Along with actionable tips on business strategy, Thiel outlines the seven questions that &quot;every business must answer,&quot; which are key to fine-tuning your entrepreneurial vision.</p> <h2>5. The Art of the Start 2.0</h2> <p>While evangelism marketing is more common nowadays, it wasn't so ubiquitous back in the early 1980s. Many people believe former chief evangelist of Apple, Guy Kawasaki, to be the father of the art &mdash; making customers believe so strongly in a particular product or service, that they freely try to convince others to buy and use it. Kawasaki is well-known for his down-to-earth and down-to-business writing style. In <a href="http://www.amazon.com/gp/product/1591847842/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591847842&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=XUY5MIOFWZH2QXN6">The Art of the Start 2.0: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything</a>, he provides a detailed marketing and PR blueprint for aspiring entrepreneurs, small-business owners, and not-for-profit leaders.</p> <h2>6. The 4-Hour Workweek</h2> <p>One of the main reasons that individuals venture into entrepreneurship is to achieve a better work-life balance. Tim Ferriss is one of the most vocal advocates of pursuing entrepreneurship to improve your lifestyle. In <a href="http://www.amazon.com/gp/product/0307465357/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0307465357&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=WWH3KS7BLKXNNBB6">The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich</a>, Ferriss teaches techniques for helping entrepreneurs and business owners to produce seemingly superhuman results in minimum time. (See also: <a href="http://www.wisebread.com/11-time-saving-hacks-from-the-worlds-busiest-people?ref=seealso">11 Time Saving Hacks From the World's Busiest People</a>)</p> <h2>7. Start Something That Matters</h2> <p>Besides a better work-life balance, many entrepreneurs start businesses in search of the ideal mix of profit and social good. Founder and Chief Shoe Giver of shoe company TOMS, Blake Mycoskie is the poster boy for a business model that helps people in need with every product purchased. <a href="http://www.amazon.com/gp/product/0812981448/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0812981448&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=5HZ2PCZONDPSBKFT">Start Something That Matters</a> tells the story of the steps Mycoskie took to set up his for-profit company to help children he met in a small village in Argentina, and how he inspires others to start something that positively impacts the world. In his book, he profiles other entrepreneurs doing good, including Lauren Bush (founder of FEED Projects), and Eric Ryan and Adam Lowry (co-founders of method).</p> <h2>8. Delivering Happiness</h2> <p>In <a href="http://www.amazon.com/gp/product/0446576220/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0446576220&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=ZPGEBDFFVIUEMYT5">Delivering Happiness: A Path to Profits, Passion, and Purpose</a>, Tony Hsieh, the CEO of Zappos.com Inc, explains how his company went from scrappy shoe online retailer to major player in ecommerce, with over $1 billion in gross merchandise sales every year. Great customer service is key for the survival of any business, and Hsieh makes a strong case of how customer service should be the responsibility of the entire company, not just a department. Given that Zappos consistently ranks among the top companies to work for and was eventually acquired by Amazon in 2009 for a cool $1.2 billion, he is definitely on to something.</p> <p><em>What are your favorite books on entrepreneurship?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/the-8-best-books-for-entrepreneurs">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-top-7-blogs-for-entrepreneurs">The Top 7 Blogs for Entrepreneurs</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money">How to Think Like an Olympian to Master Your Money</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-clever-ways-people-are-making-money-from-pok-mon-go">8 Clever Ways People Are Making Money From Pokémon GO</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-life-skills-every-freelancer-needs">8 Life Skills Every Freelancer Needs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship advice books inspiration self employed small businesses start ups Mon, 21 Dec 2015 14:00:04 +0000 Damian Davila 1623600 at http://www.wisebread.com The SEP-IRA Is How the Self-Employed Do Retirement Like a BOSS http://www.wisebread.com/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_holding_nest_egg_000020513200.jpg" alt="Learning how self-employed do retirement with SEP-IRA" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Self-employed? The odds are high that you aren't saving enough for your retirement years. A 2013 survey by TD Ameritrade found that nearly 70% of self-employed individuals weren't saving regularly for retirement &mdash; and 28% weren't saving anything at all. Those are alarming numbers. But they don't surprise ReKeithen Miller, certified financial planner with Palisades Hudson Financial Group in Atlanta.</p> <p>&quot;You hear stories about employees with traditional full-time jobs struggling to save enough for retirement. And they have 401K plans already established for them. They just have to sign up,&quot; Miller says. &quot;Just imagine how difficult it can be for self-employed people to save enough.&quot;</p> <p>That's where a Simplified Employee Pension &mdash; better known as a SEP-IRA &mdash; can help. It's an excellent <a href="http://www.wisebread.com/how-to-save-for-retirement-without-a-401k">retirement savings option</a>&nbsp;for the self-employed.</p> <h2>The Basics of a SEP-IRA</h2> <p>A SEP-IRA works much like a traditional IRA. Self-employed individuals can deposit their savings into an account and then watch their earnings grow on a tax-deferred basis until withdrawal. This means that you if you deposit $10,000 of the money you earn as self-employed worker into your SEP-IRA, you won't have to pay taxes on this income until you withdraw it.</p> <p>Like a traditional IRA, you won't face any penalties for withdrawing money once you hit age 59&frac12;. If you withdraw sooner, though, not only will you have to pay taxes on your distribution, you will also have to pay an additional penalty tax of 10% on the money you withdraw.</p> <p>One important change from a traditional IRA, though, is the amount of money you can contribute. You can deposit 20% of your net business income for the year or a total amount of $53,000 &mdash; whichever is less &mdash; into a SEP-IRA for 2015. By contrast, you're only allowed to contribute a maximum of $5,500 &mdash; $6,500 if you are 50 or older &mdash; into a traditional IRA each year.</p> <h2>Creating the Retirement Savings Habit</h2> <p>So why do so few self-employed individuals save regularly for retirement? Miller says that self-employed workers are often under stress, worrying about irregular income streams and scraping together enough for estimated income-tax payments.</p> <p>This means that saving for retirement too often becomes less of a priority.</p> <p>&quot;When you are self-employed, you have a lot to think about,&quot; Miller says. &quot;You have to get your own health insurance. You have to set a marketing budget for your business. You might have to deal with employees. Saving for retirement is not one of the top things on the list, even though it should be.&quot;</p> <p>Others might worry that they don't have enough extra income to make a dent in their retirement-savings shortfall. But Miller says that this thinking is misguided.</p> <p>&quot;Something is better than nothing,&quot; Miller says. &quot;It's better to save what you can than to not save anything at all.&quot;</p> <p>Other self-employed individuals worry that starting a SEP-IRA will take time that they need to instead devote to running and growing their businesses. Again, though, this thinking is incorrect, Miller explained. &quot;Setting up a SEP-IRA is easy,&quot; he said. Individuals can quickly set up a SEP-IRA in minutes by calling their local bank or a national financial services company.</p> <p>And once individuals have a SEP-IRA up and running, they aren't required to make any specific amount of contributions each year. You can contribute $25,000 one year, no dollars the next, and $9,000 a third year. There is no required minimum contribution to a SEP-IRA.</p> <h2>Where to Sign Up</h2> <p>Now that you're interested in retirement investing via a SEP-IRA, you should know that there are several online services you can use to open an account. Many of these allow you to sign-up and make contributions online or by phone, simplifying the process. These services range from traditional brokers to <a href="http://www.wisebread.com/should-you-trust-your-money-with-these-4-popular-financial-robo-advisers">robo-advisers</a>, each with varying perks and fees, so pay attention to the details. Some sample services include:</p> <ul> <li>Automated investment service, <a target="_blank" href="http://track.flexlinks.com/a.ashx?foid=1029882.1559546&amp;fot=9999&amp;foc=1" rel="nofollow">Betterment offers a SEP-IRA</a> with no transaction or trade fees. They also offer 4 months to 1 year free, depending on your deposit.<br /> &nbsp;</li> <li><a href="https://www.merrilledge.com/small-business/sep-ira">MerrillEdge </a>offers a SEP-IRA with no program or administrative fees. Trades may cost $6.95 per transaction, however.<br /> &nbsp;</li> <li>Online broker giants <a href="https://www.fidelity.com/retirement-ira/small-business/sep-ira">Fidelity</a> and <a href="https://investor.vanguard.com/what-we-offer/small-business/sep?WT.srch=1">Vanguard</a> also offer SEP-IRAs with no set-up fees. These services do charge for trades, however.<br /> &nbsp;</li> <li>A number of credit unions and banks also offer SEP-IRAs; check with your local provider for details and online account availability.</li> </ul> <p>The lesson here? It's time to start saving in a SEP-IRA today.</p> <p><em>Are you making contributions to a SEP-IRA?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-9"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-self-employed-persons-guide-to-getting-credit">The Self-Employed Person&#039;s Guide to Getting Credit</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/which-retirement-account-is-right-for-you">Which Retirement Account Is Right for You?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-simple-guide-to-retirement-plans-for-the-self-employed">A Simple Guide to Retirement Plans for the Self-Employed</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/stop-making-these-10-bogus-retirement-savings-excuses">Stop Making These 10 Bogus Retirement Savings Excuses</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-steps-to-starting-a-retirement-plan-in-your-30s">8 Steps to Starting a Retirement Plan in Your 30s</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Retirement 401k freelancers full-time jobs pension savings self-employment SEP-IRA Fri, 09 Oct 2015 11:00:47 +0000 Dan Rafter 1580103 at http://www.wisebread.com Best Credit Cards for Office Supply Purchases http://www.wisebread.com/best-credit-cards-for-office-supply-purchases <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-credit-cards-for-office-supply-purchases" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000039306500.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You don&rsquo;t need to be a small business owner to make runs to the office supply store. Households and small businesses alike have needs for basic supplies, not to mention students doing their yearly back to school shopping. (See also: <a href="http://www.wisebread.com/5-best-credit-cards-for-back-to-school-shopping?ref=seealso">Best Credit Cards for Back to School Shopping</a>)</p> <p>Although most credit cards that offer rewards on office supply purchases are business credit cards, there are opportunities for regular consumers to earn rewards on office supplies as well. Here is a brief roundup of the best credit cards which offer big rewards for office supply purchases.</p> <h2>Chase Ink Cash Business Credit Card</h2> <p>The <a href="http://www.wisebread.com/chase-ink-cash-business-credit-card-review">Chase Ink Cash&reg; Business Credit Card</a> provides great benefits for the small business owner. Cardholders receive 5% cash back on the first $25,000 spent at office supply stores and on phone, Internet, and cable TV services each account anniversary year. You also receive 2% cash back on the first $25,000 spent per year in combined gasoline and restaurant purchases, and 1% on all other purchases. If you also buy office supplies at Amazon.com, you can use your points earned on the card to pay for all or part of eligible Amazon.com orders, including tax &amp; shipping. Best of all, this card has no annual fee.</p> <p><strong>Sign-up offer:</strong> New cardholders can earn $200 bonus cash back after spending $3,000 in the first three months, and begin redeeming for cash at just 2,000 points.</p> <h2>SimplyCash&reg; Plus Business Credit Card from American Express</h2> <p><img width="154" border="0" height="97" alt="" class="img-exempt" style="float:right;margin:0 5px 5px 10px;" src="http://www.imgsynergy.com/191x120/simplycash-plus-business-card-from-american-express-042816.png" /><a style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;" target="_blank" rel="nofollow" alt="SimplyCash&reg; Business Card from American Express" title="SimplyCash&reg; Plus Business Credit Card from American Express" href="http://ct.wisebread.com/click.php?pg=45&amp;pid=13&amp;pp=3&amp;uv=xcardbutton"><img alt="" class="img-button" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" /></a>The <a target="_blank" rel="nofollow" href="http://ct.wisebread.com/click.php?pg=45&amp;pid=13&amp;pp=3&amp;uv=xname">SimplyCash&reg; Plus Business Credit Card from American Express</a> is a great option for U.S.-based businesses. Earn 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores. You also earn 3% cash back on the category of your choice from a list of eight categories, including airfare, gas stations, restaurants, purchases for advertising in select media, and purchases for shipping. Earn 1% on other purchases. The 5% and 3% cash back apply to purchases up to $50,000 per year. After $50,000, cash back on the special categories drop to 1%. With access to the American Express OPEN savings program, cardholders are eligible to get a 5% discount per eligible dollar spent on HP.com for laptops, desktops and more, up to $30,000 per calendar year, along with a 5% discount on shipping purchases through FedEx, up to $20,000 per year. This card has no annual fee. Terms and limitations apply.</p> <p><strong>Welcome offer: </strong>Earn a one-time $250 statement credit after spending $5,000 or more in qualifying purchases on your card within the first 6 months of card membership.</p> <p><a target="_blank" rel="nofollow" href="http://ct.wisebread.com/click.php?pg=45&amp;pid=13&amp;pp=3&amp;uv=xend"><strong>Click here to learn more and apply for the SimplyCash&reg; Plus Business Credit Card from American Express today!</strong></a></p> <h2>U.S. Bank Business Edge&trade; Cash Rewards World Elite&trade; MasterCard&reg;</h2> <p><img border="0" src="http://content.linkoffers.net/SharedImages/Products/202679/607041.png" style="float:right;margin:0 5px 5px 10px;" class="img-exempt" alt="" /><a style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;" href="http://ct.wisebread.com/click.php?pg=45&amp;pid=117&amp;pp=4&amp;uv=xcardbutton" title="U.S. Bank Business Edge&trade; Cash Rewards World Elite&trade; MasterCard&reg;" alt="U.S. Bank Business Edge&trade; Cash Rewards World Elite&trade; MasterCard&reg;" rel="nofollow" target="_blank"><img alt="" class="img-button" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" /></a>With the <a href="http://ct.wisebread.com/click.php?pg=45&amp;pid=117&amp;pp=4&amp;uv=xname" rel="nofollow" target="_blank">U.S. Bank Business Edge&trade; Cash Rewards World Elite&trade; MasterCard&reg;</a>, business owners can earn 3% cash back on all cellular, gas, and office supply store net purchases, and all other net purchases will earn them 1% cash back. In addition, cardholders will also receive a 25% annual bonus based on the prior year's earned cash rewards (up to $250). There's no limit to the amount of cash rewards you can earn, and your rewards will never expire. There is no annual fee.</p> <p><strong>Sign-up offer: </strong>New cardholders will be able to enjoy a 0% introductory APR on purchases for nine billing cycles, after which, a variable APR of 12.24%-18.24% will apply, based on your creditworthiness.</p> <p><strong><a href="http://ct.wisebread.com/click.php?pg=45&amp;pid=117&amp;pp=4&amp;uv=xend" rel="nofollow" target="_blank">Click here to learn more and apply for the U.S. Bank Business Edge&trade; Cash Rewards World Elite&trade; MasterCard&reg; today!</a></strong></p> <h2>The Business Gold Rewards Card from American Express OPEN</h2> <p><img width="154" border="0" height="97" src="http://www.imgsynergy.com/191x120/the-enhanced-business-gold-rewards-card-from-american-express-open-013015.png" style="float:right;margin:0 5px 5px 10px;" class="img-exempt" alt="" /><a style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;" href="http://ct.wisebread.com/click.php?pg=45&amp;pid=7&amp;pp=6&amp;uv=xcardbutton" title="The Business Gold Rewards Card from American Express OPEN" alt="The Business Gold Rewards Card from American Express OPEN" rel="nofollow" target="_blank"><img alt="" class="img-button" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" /></a>The <a href="http://ct.wisebread.com/click.php?pg=45&amp;pid=7&amp;pp=6&amp;uv=xname" rel="nofollow" target="_blank">Business Gold Rewards Card from American Express OPEN</a> offers a host of benefits for the small business owner. Get 3x points on your choice of one of these five categories: computer airfare, advertising in select media, gas station purchases, shipping, or purchases fo computer hardware, software, and cloud computing made directly from select providers. Receive 2x points on the remaining four categories and 1x points on all other purchases. Cardholders have access to ReceiptMatch, which is a feature that syncs with Quickbooks to help business owners manage card expenses through adding receipts, tags, and notes to transactions. Like the American Express SimplyCash, the American Express Business Gold Rewards cardholder has exclusive access to American Express OPEN, which provides 5% discounts or an additional 2x points on select purchases, including computers, shipping, and more. This card has no foreign transaction fees, and a $175 annual fee that is waived in the first year. Terms and limitations apply.</p> <p><a href="http://ct.wisebread.com/click.php?pg=45&amp;pid=7&amp;pp=6&amp;uv=xend" rel="nofollow" target="_blank"><strong>Click here to learn more and apply for the Business Gold Rewards Card from American Express OPEN today!</strong></a></p> <h2>Capital One&reg; Spark&reg; Cash for Business</h2> <p><img width="154" border="0" height="97" src="http://www.imgsynergy.com/191x120/capital-one-spark-cash-business-011916.png" style="float:right;margin:0 5px 5px 10px;" class="img-exempt" alt="" /><a style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;" href="http://ct.wisebread.com/click.php?pg=45&amp;pid=30&amp;pp=7&amp;uv=xcardbutton" title="Capital One&reg; Spark&reg; Cash for Business" alt="Capital One&reg; Spark&reg; Cash for Business" rel="nofollow" target="_blank"><img alt="" class="img-button" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" /></a>The <a href="http://ct.wisebread.com/click.php?pg=45&amp;pid=30&amp;pp=7&amp;uv=xname" rel="nofollow" target="_blank">Capital One&reg; Spark&reg; Cash for Business</a> offers a generous 2% cash back on every purchase, with no categories or limits on your rewards and no minimum redemption amount. You can redeem cash rewards at any time, and you can set up automatic redemption to make it even easier. There is no additional cost for employee cards, and you earn rewards from their business spending as well. The $59 annual fee for this card is waived the first year, and there are no foreign transaction fees.</p> <p><strong>Bonus offer:</strong> New cardmembers get a one-time $500 cash sign-up bonus after spending $4,500 on purchases within the first three months of account opening.</p> <p><a href="http://ct.wisebread.com/click.php?pg=45&amp;pid=30&amp;pp=7&amp;uv=xend" rel="nofollow" target="_blank"><strong>Click here to learn more and apply for the Capital One&reg; Spark&reg; Cash for Business today!</strong></a></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/christina-majaski">Christina Majaski</a> of <a href="http://www.wisebread.com/best-credit-cards-for-office-supply-purchases">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-10"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-best-5-credit-cards-for-groceries">The 5 Best Credit Cards for Groceries</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses">The 5 Best Credit Cards for Small Businesses</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/when-you-should-get-a-business-credit-card-over-a-consumer-card">When You Should Get a Business Credit Card Over a Consumer Card</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-credit-cards-with-airline-companion-tickets-and-3-bad-ones">The 5 Best Credit Cards With Airline Companion Tickets</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/best-credit-cards-for-the-holidays">Best Credit Cards for the Holidays</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards Entrepreneurship Organization Shopping best credit cards office supplies Fri, 18 Sep 2015 20:03:30 +0000 Christina Majaski 1545905 at http://www.wisebread.com 5 Ways to Protect Your Business During a Divorce http://www.wisebread.com/5-ways-to-protect-your-business-during-a-divorce <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-ways-to-protect-your-business-during-a-divorce" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/divorced_couple_000027585457.jpg" alt="Business owners trying to protect themselves through divorce" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Getting a divorce can be one of the most emotionally devastating times in your life. Combine this with running your own business and next thing you know, your life has become extremely stressful. I know, because I've been there.</p> <p>If you're <a href="http://www.wisebread.com/small-business/can-a-failed-marriage-lead-to-business-failure">going through the a divorce</a>, here are some important financial steps to take to protect yourself and your business.</p> <h2>1. Get Organized</h2> <p>The first step when dealing with a divorce as a business owner is to get organized and find a lawyer who can help you take the right steps.</p> <p>Gather all your financial documents, business and bank statements, agreements, and other information that pertains to your business and marriage. Any debts and assets you and the business owns will have to be calculated and divided up. Examine all the bank accounts and documents, as you don't want to be out of the loop in a situation like this.</p> <p>Depending on the state you live in, and whether or not you signed a prenup, you and your spouse could be forced to split the business profits &mdash; and everything else &mdash; 50/50. If you and your spouse work in the business together, the operating agreements should outline directions for each spouse to protect themselves during a divorce or other separation.</p> <h2>2. Fill In the Details</h2> <p>What assets or savings did you bring into the relationship? How much do you have personally invested into the business? What are the balances of your personal, joint, and business accounts, investments, credit cards, and loans?</p> <p>Work with your spouse (or a lawyer if you need help mediating) to fill in all these details. Put the information on paper, or in a spreadsheet, so you're both on the same page. Ask your accountant for all the financial reports, profit and loss statements, and balance sheets for the business, too. Everything needs to be accounted for.</p> <h2>3. Protect Yourself</h2> <p>The next step involves dividing up the assets and agreeing on whether to sell the business, dissolve it, or keep it up and running. If you jointly own a home, the mortgage will have to be refinanced into your or your spouse's name, unless you both agree to sell it.</p> <p>By the end of the divorce process you want all of your assets divided fairly. Leaving joint accounts after a divorce can lead to credit reporting inaccuracies and even fraud.</p> <p>Take steps to protect yourself and your business during this process by separating all joint accounts, assets, and debts. Until a property is sold or refinanced into your name, you're still liable for the entire mortgage or rental payment &mdash; whether or not your spouse helps split the bill.</p> <h2>4. Keep a Paper Trail</h2> <p>Any conversations you have with your spouse need to be in writing. Save all your emails, notes, and text messages. This is especially important when it comes to figuring out the important details of how you'll handle the business together.</p> <p>In the event that you and your ex can't discuss things in a calm fashion, you'll need written proof of what each other has agreed upon so you can move forward with the divorce. Keep a paper trail of all the bank accounts you've dissolved, assets you sell, debt settlements, loan refinances, and any other financial paperwork. You may need written proof of these transactions in the future.</p> <h2>5. Start Fresh</h2> <p>Continue protecting yourself as you move forward and rebuild your life. This means opening up new bank accounts in your name only, for both personal and business, and making a plan to get back on track.</p> <p>Check your credit report using a secure site like <a href="https://www.annualcreditreport.com/">annualcreditreport.com</a>, to make sure everything is accurate. If you see any incorrect accounts, numbers, or names, reach out to the top three credit bureaus and get it corrected.</p> <p>When my divorce was finalized I was left with over $14,000 of consumer debt that we accumulated during our marriage. I had to find a new job and start making a plan to pay it down. Our credit was also conjoined since we had shared accounts, and these took some time to separate. It was rough to say the least.</p> <p>You don't have to lose your business just because you and your ex aren't on speaking terms. Work with a legal representative you trust and make sure everything's in writing.</p> <p><em>Have you ever gone through a divorce as a business owner? What was your experience?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-smith">Carrie Smith</a> of <a href="http://www.wisebread.com/5-ways-to-protect-your-business-during-a-divorce">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-11"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/250-tips-for-small-business-owners">250+ Tips for Small Business Owners</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/make-love-not-money-sort-of">Make Love, Not Money (Sort Of)</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses">The 5 Best Credit Cards for Small Businesses</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage">How to Put Your Spouse on a Budget Without Ruining Your Marriage</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-money-saving-tricks-to-know-before-buying-an-engagement-ring">12 Money-Saving Tricks to Know Before Buying an Engagement Ring</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Family business owners dividing assets divorce marriage pre-nup small business Tue, 01 Sep 2015 09:02:44 +0000 Carrie Smith 1538268 at http://www.wisebread.com 10+ Smart Ways to Get a Small Business Loan http://www.wisebread.com/10-smart-ways-to-get-a-small-business-loan <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-smart-ways-to-get-a-small-business-loan" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000037497774.jpg" alt="Woman finding smart ways to get a small business loan" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Money is the lifeline of any small business.</p> <p>And using financing to maintain healthy cash flow can be essential for a sustainable operation. Still, when it comes to seeking financing, some business owners may not know where to begin. There are now more options than ever for the hopeful entrepreneur looking to get a bit of a boost to jump start a business. Here is a breakdown of some of the ways you can get financing for your business.</p> <h2>1. Business Loan</h2> <p>With over half of small businesses using them, <a href="https://www.sba.gov/sites/default/files/2014_Finance_FAQ.pdf">traditional bank loans</a> are still the most popular source of financing among small businesses. However, not every organization is able to secure one. According to a nationwide review of 10,000 loan applicants across 700 different industries, 82% of loan applications from small businesses are <a href="https://www.ondeck.com/company/in-the-news/press-releases/ondeck-main-street-pulse-report/">turned down by a bank</a>.</p> <p>There are two basic steps to increase your chances of landing a business loan.</p> <p>First, you need to build and maintain a strong business credit score. Don't confuse your personal credit score with your business credit score. Two thirds of U.S. small business owners haven't <a href="http://www.wsj.com/articles/SB10001424127887323893504578559420352637566">checked their business credit report</a> within the past two years. Before you apply for a business loan, find out your current business credit score, update any missing or incorrect information, and take steps toward improving it.</p> <p>Second, you need to establish a solid business plan, which not only details how you plan to operate your business, but also provides projections of revenues and expenses for the next five years. The more that you can back up your claims and projections with factual information, the better your chance of landing a business loan.</p> <h2>2. SBA Loan Programs</h2> <p>The U.S. Small Business Administration (SBA) offers <a href="http://www.sba.gov/loanprograms">several loan programs</a> for very specific purposes.</p> <h3>General Small Business Loans: 7(a)</h3> <p>This is the SBA's most common loan program, which is available to most small businesses that operate for profit in the U.S. and aren't delinquent on any existing debt obligations to the federal government. You can find more details about <a href="https://www.sba.gov/content/7a-loan-program-eligibility">7(a) loan program eligibility</a> at the SBA website.</p> <h3>Microloan Programs</h3> <p>With an interest rate ranging between 8% and 13% and maximum repayment term of up to six years, the SBA Microloan program provides loans of up to $50,000 to help small businesses in securing working capital, purchasing inventory or supplies, acquiring furniture or fixtures, or investing in machinery or equipment. The <a href="https://www.sba.gov/content/microloan-program">average microloan</a> is about $13,000.</p> <h3>Real Estate and Equipment Loans: CDC/504</h3> <p>A <a href="https://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/sba-loan-programs/real-estate-and-eq">CDC/504 loan</a> can be used for:</p> <ul> <li>purchasing land, including existing buildings;</li> <li>making substantial real estate improvements;</li> <li>renovating or modernizing facilities; and</li> <li>purchasing long-term machinery and equipment.</li> </ul> <h3>Disaster Loans</h3> <p>Most businesses whose real estate, property, machinery and equipment, inventory, or other business assets were destroyed in a declared disaster, may be eligible to a low-interest <a href="https://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/disaster-loans">disaster loan</a>. The SBA monies can be used to replace or repair the destroyed business assets.</p> <h2>3. Asset-Backed Loan</h2> <p>Trying to hire extra help during a busy season or taking advantage of a great opportunity to bulk up inventory for cheap can put your small biz in a cash crunch. One way to secure that much-needed capital is to use your accounts receivable or assets as collateral for a loan.</p> <p>Before you run to the bank with a list of all your business assets, you should realize that lenders are only interested in specific high-quality assets:</p> <ul> <li>accounts receivable under 60 to 90 days, depending on lender;</li> <li>heavy equipment;</li> <li>qualifying vehicles (e.g. trucks); and</li> <li>business inventory.</li> </ul> <p>To hedge the loans that they issue, banks generally <a href="http://www.entrepreneur.com/article/52726">appraise eligible receivables</a> and finished inventory at 70% to 80% and 50%, respectively, of their market value. The reason is that if you were to default on your loan or miss several payments, then the bank would liquidate the assets as quick as possible at a lower price. If the sale doesn't cover your remaining loan balance, you're still liable for it.</p> <p>By keeping in mind the lower asset valuations, associated loan fees, and applicable rules, asset-backed lending can be a useful source of financing for small businesses. This is why asset-based credit line commitments at the end of 2014 were <a href="http://higherlogicdownload.s3.amazonaws.com/CFA/72a44465-ed9d-4059-8a2b-308d81a7fe37/UploadedImages/2014%20Annual%20Asset-Based%20Lending%20and%20Factoring%20Survey.pdf">nearly $216 billion</a>, a 6.8% increase over 2013.</p> <h2>4. Kabbage</h2> <p>One of the main challenges of getting a loan for your small business from traditional lenders is that they base the majority of their decisions on a credit score. Even though small biz owners may lack the business credit score traditional lenders are looking for, they can still demonstrate a healthy cashflow through business data from connected sites, such as a QuickBooks, Square, Amazon, PayPal, or Etsy accounts.</p> <p>Leveraging this second type of business data, <a href="http://www.kqzyfj.com/click-2822544-11145625-1452787774000" rel="nofollow" target="_blank">Kabbage</a> helps small businesses get the funding they need to grow. Through a fully automated, online platform, owners of small businesses can link their latest business data, allowing Kabbage to review the overall health of their business &mdash; not just a credit score &mdash; to approve and provide loans between $2,000 and $100,000 in minutes.</p> <p>Kabbage loans aren&rsquo;t for everybody. These are very short term loans that are payable within six months, requiring payment of one sixth of the total loan plus a monthly fee per month. Fees range between 1% and 12% of your loan for the first two months and 1% for each of the remaining four months. However, you can pay back your loan early without penalty and lower your financing costs.</p> <h2>5. Lending Club</h2> <p>The underlying idea of peer to peer (P2P) lending is to circumvent traditional lenders, such as banks, by crowdfunding funds from a large group of individuals. When one small business owner receives a P2P loan, his peers fund small portions of that loan and receive principal plus interest when the borrower repays the loan. In simple words: a peer lends to another peer. (See also: <a href="http://www.wisebread.com/peer-to-peer-lending-prosper-marketplace-or-lending-club?ref=seealso">Prosper or Lending Club?</a>)</p> <p>Founded in 2007, <a href="http://track.flexlinks.com/a.ashx?foid=1029882.227343&amp;fot=1074&amp;foc=1" target="_blank" rel="nofollow">Lending Club</a> has issued over $11.17 billion in P2P loans since 2007. In 2012, Lending Club issued a total of <a href="http://www.federalreserve.gov/pubs/feds/2014/201410/201410pap.pdf">1,386 small business loans</a> with an average loan amount of $16,268 and an average interest rate of 13.39%. Collateral is not needed for loans under 100k and no appraisals or business plans required. You must own at least 20% of the business and have fair credit. Their loans start at 5.99% fixed and you can choose from 1-5 year terms. There is a one-time origination fee that ranges from 0.99-5.99%.</p> <h2>6. Prosper</h2> <p>The pioneer of P2P lending in the U.S., <a href="http://prosper.evyy.net/c/27771/27127/994" rel="nofollow" target="_blank">Prosper</a> uses a credit score-based model for evaluating its P2P loans. more than 2.2 million members and over $4 billion in funded loans. Small business owners can apply for P2P loans between $2,000 and $35,000 and individual lenders invest as little as $25 in each loan listing they select. A small business loan through Prosper can have an APR ranging between 5.99% and 36.00%. Unlike Lending Club which prefers businesses to have been operating for at least two years with 75k in annual sales, Prosper encourages budding entrepreneurs to apply.</p> <h2>7. CircleBackLending</h2> <p>CircleBackLending is also a P2P operator but uses institutional investors. Small business owners can borrow between $3,000 to $35,000 at CircleBackLending. Their unsecured loans are fixed-rate with interest rates starting at 5.96% for those with good credit.</p> <!--<a target="_blank" rel="nofollow" href="http://track.linkoffers.net/a.aspx?foid=26228790&amp;fot=1285&amp;foc=1">CircleBackLending</a>--><!--<a target="_blank" rel="nofollow" href="http://track.linkoffers.net/a.aspx?foid=26228790&amp;fot=1285&amp;foc=1">CircleBackLending</a>--></p> <h2>8. PersonalLoans.com</h2> <p>Here you can find three types of personal loans: peer-to-peer loans, personal installment loans, and bank personal loans. However, due to applicable laws and regulations that vary by state, some of those loans may not available for you. Each type of loan at <a href="http://track.linkoffers.net/a.aspx?foid=26230639&amp;fot=1285&amp;foc=1" rel="nofollow" target="_blank">PersonalLoans.com</a> has specific requirements. For example, the minimum requirements to qualify for a bank personal loan ranging from $1,000 to $35,000 are a credit score of 580, monthly income of $3,000, proof of employment or self-employment.</p> <h2>9. OneMain Financial</h2> <p>Depending on your state of residence, you can borrow between $300 and $15,000 through <a href="http://www.dpbolvw.net/click-2822544-11042456-1411396647000?sid=davila-1539545" target="_top">OneMain Financial</a>. An important advantage of using this lender is that you can cancel your personal loan for any reason and return the money within 14 days without any early payment fees or other types of penalties.</p> <h2>10. Avant</h2> <p>Formerly known as Avant Credit, this issuer of personal loans can be an option for small business owners looking to start or build back up their credit history. While you don't need a FICO score to apply for a loan with <a href="http://www.kqzyfj.com/click-2822544-11789034-1427835327000" target="_blank" rel="nofollow">Avant</a>, all of your payments will be reported to the major credit bureaus, which helps to improve your credit score as long as you're making timely payments.</p> <h2>11. Small Business Credit Cards</h2> <p>By choosing the <a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses?ref=internal">right small business credit card</a>, you can avoid a cash crunch and meet your financing needs to secure future income. Choose the card that offers the best bonuses for your purchases as well as additional benefits like travel perks if you travel frequently.</p> <p><a target="_blank" rel="nofollow" href="http://www.wisebread.com/choose-your-business-rewards-american-express-simplycash-business-credit-card">SimplyCash&reg; Plus Business Credit Card from American Express</a> offers 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores, and the <a href="http://www.wisebread.com/easy-business-rewards-capital-one-spark-miles-for-business-credit-card-review" rel="nofollow" target="_blank">Capital One&reg; Spark&reg; Miles for Business</a> offers 2x miles per dollar spent on every purchase. (See also: <a href="http://www.wisebread.com/when-you-should-get-a-business-credit-card-over-a-consumer-card?ref=seealso">The Difference Between Business and Consumer Credit Cards</a>)</p> <p>Responsible use of a small business credit card can also help you to separate your business and personal finances.</p> <h2>The Bottom Line</h2> <p>No matter the source of your financing, you should only seek a loan if you're experiencing a cash flow gap. This means that you need the money to meet the operating expenses for a guaranteed source of revenue. For example, you need the capital to buy a piece of equipment for an order that is double your actual capacity, or to hire additional employees during the Christmas season rush.</p> <p>There are several financing options available, so don't jump at the first loan offer that you receive, and always shop around for better rates.</p> <p><em>What are other ways to get a loan for your small business?</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <p style="text-align: center;"><a data-pin-do="buttonPin" data-pin-color="red" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F10-smart-ways-to-get-a-small-business-loan&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F10%252B%2520Smart%2520Ways%2520to%2520Get%2520a%2520Small%2520Business%2520Loan.jpg&amp;description=10%2B%20Smart%20Ways%20to%20Get%20a%20Small%20Business%20Loan"><img src="//assets.pinterest.com/images/pidgets/pinit_fg_en_rect_red_28.png" alt="" /></a></p> <h2 style="text-align: center;"><img width="250" align="middle" height="374" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/10%2B%20Smart%20Ways%20to%20Get%20a%20Small%20Business%20Loan.jpg" alt="" />&nbsp;</h2> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/10-smart-ways-to-get-a-small-business-loan">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-12"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses">The 5 Best Credit Cards for Small Businesses</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-build-credit-without-using-credit-cards">How to Build Credit Without Using Credit Cards</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-self-employed-persons-guide-to-getting-credit">The Self-Employed Person&#039;s Guide to Getting Credit</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/cant-get-a-bank-loan-8-other-ways-to-finance-your-business">Can&#039;t Get A Bank Loan? 8 Other Ways To Finance Your Business</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-prepare-for-a-home-purchase-in-2010">How to Prepare for a Home Purchase in 2010</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Banking Credit Cards Entrepreneurship borrowing money credit score financing loans small business Fri, 28 Aug 2015 13:00:20 +0000 Damian Davila 1539545 at http://www.wisebread.com When You Should Get a Business Credit Card Over a Consumer Card http://www.wisebread.com/when-you-should-get-a-business-credit-card-over-a-consumer-card <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/when-you-should-get-a-business-credit-card-over-a-consumer-card" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000022662360.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>If you have a business, it&rsquo;s worth considering a small business credit card. In some cases, the rewards and benefits mirror their consumer cards with little to no difference. In others though, the rewards offered by the small business card can be significant. And regardless of the rewards offered, small business cards can be used in other ways that will benefit you and your business. Here are five of the benefits that small business cards can offer over using a personal card. (See also: <a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses?ref=seealso">Best Small Business Credit Cards</a>)</p> <h2>Enjoy Bonuses for Business Expenses</h2> <p>Just like the market for personal cards, there's a highly competitive market for small business credit cards. And one of the ways that banks compete for their business is by offering the most aggressive rewards for spending. With business cards, the rewards are more likely to be focused on common business expenses. In contrast, similar personal credit cards are more likely to offer bonuses for groceries and entertainment charges. Furthermore, the rewards earned from employee spending as authorized cardholders is retained by the primary account holder, increasing the opportunity for business owners to earn valuable points, miles, and cash back.</p> <p><img width="154" border="0" src="http://www.imgsynergy.com/191x120/the-enhanced-business-gold-rewards-card-from-american-express-open-013015.png" alt="" class="img-exempt" style="float:right;margin:0 5px 5px 10px;" /><a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=7&amp;pp=1&amp;uv=xcardbutton" target="_blank" rel="nofollow" alt="The Enhanced Business Gold Rewards Card from American Express OPEN" title="The Enhanced Business Gold Rewards Card from American Express OPEN" style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" class="img-button" alt="" /></a>The <a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=7&amp;pp=1&amp;uv=xname&amp;fot=1249" rel="nofollow" target="_blank">Business Gold Rewards Card from American Express OPEN</a> offers as much as 3x Membership Rewards points for purchases in one of 5 categories (airfare, advertising, gas, shipping, or computer expenses), according to the cardholder's choice, and 2x on the 4 remaining categories. Also get 1x on other purchases. New cardholders can get 25,000 points after spending $5,000 in purchases within the first 3 months. The annual fee is $0 for the first year, then $175 after. Terms and limitations apply. <strong><a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=7&amp;pp=1&amp;uv=xend&amp;fot=1249" rel="nofollow" target="_blank">Click here to learn more and apply to the Business Gold Rewards Card from American Express OPEN.</a></strong></p> <h2>Separate Personal and Business Expenses</h2> <p>The primary benefit of a business credit card, and the reason they exist in the first place, is to separate personal and business expenses for the sake of record keeping and filing taxes. Can you use a personal credit card to do this? Yes, but the balance will appear on your personal credit report. In contrast, a business credit card's balance will not affect your credit score, unless you miss payments. As a primary account holder, you're still personally liable to pay back all charges on your business credit card.</p> <h2>Use Expanded Reporting Tools</h2> <p>Business users are likely to need additional information from their credit cards for accounting purposes, which is a feature provided by many small business credit cards. For example, the Spark line of business cards from Capital One features quarterly and year-end summaries that include custom, itemized reports of your spending. In addition, these cards offer downloadable purchase records compatible with common accounting tools such as Quicken, QuickBooks, and Excel. Furthermore, the Ink line of business cards from Chase offers the JOT mobile app that allows cardholders to save images of the receipts and tag them with customizable categories.</p> <p><img width="154" border="0" src="http://www.imgsynergy.com/191x120/capital-one-spark-miles-business-011916.png" class="img-exempt" style="float:right;margin:0 5px 5px 10px;" alt="" /><a style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;" href="http://ct.wisebread.com/click.php?pg=64&amp;pid=31&amp;pp=2&amp;uv=xcardbutton"><img alt="" class="img-button" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" /></a>The <a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=31&amp;pp=2&amp;uv=xname">Capital One&reg; Spark&reg; Miles Select Business Card</a> earns 1.5 miles per dollar spent on every purchase. Miles don't expire and there are no categories to limit rewards. Miles can easily be redeemed as statement credit for most travel purchases. New cardholders can receive a one-time bonus of 20,000 miles after spending $3,000 within the first 3 months. There are also no foreign transaction fees and no annual fee. <a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=31&amp;pp=2&amp;uv=xend"><strong>Click here to learn more and apply for the Capital One&reg; Spark&reg; Miles Select for Business card.</strong></a></p> <p><img width="154" border="0" src="http://www.imgsynergy.com/191x120/capital-one-spark-cash-business-011916.png" class="img-exempt" style="float:right;margin:0 5px 5px 10px;" alt="" /><a style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;" href="http://ct.wisebread.com/click.php?pg=64&amp;pid=30&amp;pp=3&amp;uv=xcardbutton"><img alt="" class="img-button" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" /></a>Capital One also offers the <a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=30&amp;pp=3&amp;uv=xname">Spark&reg; Cash for Business card</a> which offers 2% cash back on every purchase. Considering there are no limits to the amount you can earn and no categories that limit your rewards, this is a very high cash back percentage. No other business credit card offers 2% cash back. Get a one-time $500 cash bonus after spending $4,500 within the first 3 months. There are no foreign transaction fees and the $59 annual fee is waived for the first year. <a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=30&amp;pp=3&amp;uv=xend"><strong>Click here to learn more and apply for the Capital One&reg; Spark&reg; Cash for Business card.</strong></a></p> <h2>Have More Control Over Authorized Users</h2> <p>If you need to give employees a card to use, business credit cards can offer better management, reporting, and control over their spending abilities. You can set up alerts on purchases, adjust spending limits, and view usage among different employees. Some consumer cards offer additional cards for authorized users, but it has the same card number and does not distinguish purchases between cardholders.</p> <p><img width="154" border="0" style="float:right;margin:0 5px 5px 10px;" class="img-exempt" alt="" src="http://www.imgsynergy.com/191x120/simplycash-plus-business-card-from-american-express-042816.png" /><a title="SimplyCash&reg; Plus Business Credit Card from American Express" alt="SimplyCash&reg; Plus Business Credit Card from American Express" rel="nofollow" target="_blank" href="http://ct.wisebread.com/click.php?pg=64&amp;pid=13&amp;pp=4&amp;uv=xcardbutton" style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" class="img-button" alt="" /></a>The <a rel="nofollow" target="_blank" href="http://ct.wisebread.com/click.php?pg=64&amp;pid=13&amp;pp=4&amp;uv=xname&amp;fot=1249">SimplyCash&reg; Plus Business Credit Card</a> from American Express offers 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores, 3% cash back on a category of your choice from a list of eight, and 1% cash back on other purchases. (The 5% and 3% apply to purchases up to $50,000 per year.) New cardholders can earn a one-time $250 statement credit after spending $5,000 or more on qualifying purchases within the first 6 months of card membership. There is no annual fee. Terms and limitations apply. <a rel="nofollow" target="_blank" href="http://ct.wisebread.com/click.php?pg=64&amp;pid=13&amp;pp=4&amp;uv=xend&amp;fot=1249"><strong>Click here to learn more and apply for the SimplyCash&reg; Business Credit Card from American Express.</strong></a></p> <h2>Earn Valuable Sign-Up Bonuses</h2> <p>One benefit that some credit card users find attractive is that they can earn increased rewards from sign the up bonuses offered by the business version of a card. When an exceptional offer comes around, it's often extended to both the business and personal versions of a credit card, allowing business owners multiple opportunities to earn this bonus. In fact, someone who owns multiple businesses may be able to apply for separate accounts for each one.</p> <p><img width="154" border="0" src="http://www.imgsynergy.com/191x120/the-business-platinum-card-from-american-express-open-013015.png" style="float:right;margin:0 5px 5px 10px;" class="img-exempt" alt="" /><a style="border:none;float:right;clear:right;margin: 0 5px 5px 10px;" href="http://ct.wisebread.com/click.php?pg=64&amp;pid=8&amp;pp=5&amp;uv=xcardbutton" title="The Business Platinum Card&reg; from American Express OPEN" alt="The Business Platinum Card&reg; from American Express OPEN" rel="nofollow" target="_blank"><img alt="" class="img-button" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/apply-now.png" /></a>The <a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=8&amp;pp=5&amp;uv=xname&amp;fot=1249" rel="nofollow" target="_blank">Business Platinum Card&reg; from American Express OPEN</a> offers 40,000 points after spending $5,000 in purchases within the first 3 months. This premium card offers <a href="http://www.wisebread.com/5-best-credit-cards-with-free-airport-lounge-access">complimentary airport lounge access</a> to over 700 airport lounges around the world. It also includes free internet access with Gogo inflight and Boingo hotspots. The annual fee of $450 seems high, but when you factor in the lounge access, $200 airline fee credit per year, $100 credit for Global Entry or $85 for TSA Precheck, 30% airline bonus when you use points to pay for a qualifying flight, and their exclusive Business Platinum Concierge ready to help you 24/7 with just about anything personal or professional, the value is more than enough to cover the fee. Terms and restrictions apply. <a href="http://ct.wisebread.com/click.php?pg=64&amp;pid=8&amp;pp=5&amp;uv=xend&amp;fot=1249" rel="nofollow" target="_blank"><strong>Click here to learn more and apply for the Business Platinum Card&reg; from American Express OPEN.</strong></a></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/jason-steele">Jason Steele</a> of <a href="http://www.wisebread.com/when-you-should-get-a-business-credit-card-over-a-consumer-card">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-13"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/which-credit-cards-have-the-best-travel-redemption-value">Which Credit Cards Have the Best Travel Redemption Value?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses">The 5 Best Credit Cards for Small Businesses</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/which-delta-skymiles-credit-card-has-the-best-value">Which Delta SkyMiles Credit Card Has the Best Value?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/best-credit-cards-for-office-supply-purchases">Best Credit Cards for Office Supply Purchases</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-credit-card-issuers-classify-your-purchases-for-bonus-rewards">How Credit Card Issuers Classify Your Purchases For Bonus Rewards</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Credit Cards Entrepreneurship american express best credit cards Capital One chase Mon, 27 Jul 2015 14:00:13 +0000 Jason Steele 1501695 at http://www.wisebread.com