Anyone who's ever been in business for him/herself knows that half the battle is keeping up with the endless paperwork, from government agencies, invoices from suppliers, and the steady flow of bills, receipts and information overload with which just about every business - brick or mortar or online - has to contend.
Here were are in the second decade of the 21st century and computers still haven't solved the paperwork dilemma.
There are solutions, some better than others, to at least handle the business end of the business, with online accounting leading the way to a more streamlined, better-organized future.
One such service is Outright.com, a handy website that involves online accounting and bookkeeping software, with special focus on users of online marketplaces like eBay or Etsy.
Budding entrepreneurs and veteran businesspeople will appreciate the fact that a simple account is free, and singup takes less than a minute. The system allows you to link and import from your eBay account and also to PayPal, to track sales, sales tax, shipping fees and income.
Other accounts can be added later and upgrades are available for only $9.95 per month. If you're struggling under a deluge of paperwork and spreadsheets, this handy tool is a step in the right direction.
Monday, November 14, 2011
Sunday, November 13, 2011
Identity Theft, Employment and the Reporting Agencies
Identity theft is a major life difficulty that can affect your family, credit score or even your job prospects. Many employers are and have been looking into the credit histories of prospective employees as a way to differentiate the deluge of job applications during these difficult times.
Some say that checking credit scores of job applicants is hitting below the belt against individuals who, for better or worse, could not meet their obligations due to job loss, divorce, illness or the sluggish economy. Employers, on the other hand, are already skeptical of the current economy and are doing everything within their power to employ people while keeping their business intact and operating smoothly. They feel that identifying poor credit risk individuals is within their rights to hire the employees the consider the most fit for the job and the culture of the company.
Like it or not, that's why it's important to keep track of one's credit score. There are many sites at which one can access a free credit score to check for discrepancies, mistakes or fraud, the signature of identity theft.
Sites offering FreeScore provideof credit scores, reports and consumer credit information, along with identity theft protection services. An effective deterrent against identity theft and all sorts of other social maladies, getting the information from the three major credit reporting companies - Equifax, TransUnion and Experian.
Discrepancies on any, from those of the other reporting services, or transactions or information of which you are unaware, should alert you to the possibility of foul play.
It is important that as soon as you become aware of mistakes or errors in any of your credit history, that you contact the reporting agency, preferably in writing, for an explanation. Also advisable is contacting the financial institution upon which the error is recorded, be it a credit card company, bank of other financial institution.
Some say that checking credit scores of job applicants is hitting below the belt against individuals who, for better or worse, could not meet their obligations due to job loss, divorce, illness or the sluggish economy. Employers, on the other hand, are already skeptical of the current economy and are doing everything within their power to employ people while keeping their business intact and operating smoothly. They feel that identifying poor credit risk individuals is within their rights to hire the employees the consider the most fit for the job and the culture of the company.
Like it or not, that's why it's important to keep track of one's credit score. There are many sites at which one can access a free credit score to check for discrepancies, mistakes or fraud, the signature of identity theft.
Sites offering FreeScore provideof credit scores, reports and consumer credit information, along with identity theft protection services. An effective deterrent against identity theft and all sorts of other social maladies, getting the information from the three major credit reporting companies - Equifax, TransUnion and Experian.
Discrepancies on any, from those of the other reporting services, or transactions or information of which you are unaware, should alert you to the possibility of foul play.
It is important that as soon as you become aware of mistakes or errors in any of your credit history, that you contact the reporting agency, preferably in writing, for an explanation. Also advisable is contacting the financial institution upon which the error is recorded, be it a credit card company, bank of other financial institution.
Friday, November 11, 2011
Bond Market Closed, Stocks Go "ALL IN"; Jack Abramoff Says Congress Engages in Insider Trading
Guess what?
While some of you may have had the day off for observation of Veterans Day, the stock market was open, the Euro spiked higher and traders had a field day.
The correlation trade recently mentioned here between the Euro/Dollar and US equities went into high gear, with the Dow posting its 11th day this year with a gain of more than 200 points and the other major indices registering similar percentage gains. Not to be left behind, the commodity complex also saw dramatic gains, with oil, gold, silver and platinum leading the way.
For the week, all major indices closed with small gains due to Wednesday's wicked meltdown, which only served to fuel speculator appetite for risk assets in the final two trading days of the week.
There was no catalyst other than the Euro, which was boosted higher on hopes that the Italian parliament would continue to press for austerity measures. Italy's troubles seem to have subsided almost overnight, it's 10-year note falling well below the key seven percent level.
The disturbing story of the day came from CNBC, of all places, as disgraced and discredited lobbyist Jack Abramoff, on the heels of his explosive 60 Minutes interview last Sunday (see video below) spoke to reporter Eamon Javers about insider trading in congress.
Though Abramoff, who spent three years in prison for his crimes, refused to name names, he said he knew of at least twelve member of congress who traded stocks on inside information.
Naturally, these congress-critters and their staffers, belonging to the privileged one percent, will never be investigated, charged or tried. It's accepted practice in Washington to take advantage of information before it becomes general knowledge and therein lies the double-edged sword for anybody with a 401k, retirement account or an active brokerage account. While today's gains, and all gains, look great on one's balance sheet, the insiders of Wall Street and Washington are making ordinary people's profits look like chicken feed.
It's a sign of our times. Profits booked legally by 99% of the public are offset by the one percent's relentless, secretive, underhanded dealings.
That's all. Enjoy the weekend.
Dow 12,153.68, +259.89 (2.19%)
NASDAQ 2,678.75, +53.60 (2.04%)
S&P 500 1,263.85, +24.16 (1.95%)
NYSE Composite 7,576.18, +152.50 (2.05%)
NASDAQ Volume 1,575,004,500
NYSE Volume 3,326,831,000
Combined NYSE & NASDAQ Advance - Decline: 4629-984
Combined NYSE & NASDAQ New highs - New lows: 81-59
WTI crude oil: 98.99, +1.21
Gold: 1,788.10, +28.50
Silver: 34.68, +0.58
While some of you may have had the day off for observation of Veterans Day, the stock market was open, the Euro spiked higher and traders had a field day.
The correlation trade recently mentioned here between the Euro/Dollar and US equities went into high gear, with the Dow posting its 11th day this year with a gain of more than 200 points and the other major indices registering similar percentage gains. Not to be left behind, the commodity complex also saw dramatic gains, with oil, gold, silver and platinum leading the way.
For the week, all major indices closed with small gains due to Wednesday's wicked meltdown, which only served to fuel speculator appetite for risk assets in the final two trading days of the week.
There was no catalyst other than the Euro, which was boosted higher on hopes that the Italian parliament would continue to press for austerity measures. Italy's troubles seem to have subsided almost overnight, it's 10-year note falling well below the key seven percent level.
The disturbing story of the day came from CNBC, of all places, as disgraced and discredited lobbyist Jack Abramoff, on the heels of his explosive 60 Minutes interview last Sunday (see video below) spoke to reporter Eamon Javers about insider trading in congress.
Though Abramoff, who spent three years in prison for his crimes, refused to name names, he said he knew of at least twelve member of congress who traded stocks on inside information.
Naturally, these congress-critters and their staffers, belonging to the privileged one percent, will never be investigated, charged or tried. It's accepted practice in Washington to take advantage of information before it becomes general knowledge and therein lies the double-edged sword for anybody with a 401k, retirement account or an active brokerage account. While today's gains, and all gains, look great on one's balance sheet, the insiders of Wall Street and Washington are making ordinary people's profits look like chicken feed.
It's a sign of our times. Profits booked legally by 99% of the public are offset by the one percent's relentless, secretive, underhanded dealings.
That's all. Enjoy the weekend.
Dow 12,153.68, +259.89 (2.19%)
NASDAQ 2,678.75, +53.60 (2.04%)
S&P 500 1,263.85, +24.16 (1.95%)
NYSE Composite 7,576.18, +152.50 (2.05%)
NASDAQ Volume 1,575,004,500
NYSE Volume 3,326,831,000
Combined NYSE & NASDAQ Advance - Decline: 4629-984
Combined NYSE & NASDAQ New highs - New lows: 81-59
WTI crude oil: 98.99, +1.21
Gold: 1,788.10, +28.50
Silver: 34.68, +0.58
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