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
Thursday, November 10, 2011
Euro/Equities Correlation In Play; Largest US Municipal Bankruptcy in Alabama; Foreclosures Rise
As has been noted here recently, the correlation between the Euro and US stocks is operating in perfect harmony. Today, with the Italian 10-year note dipping below the magic 7% yield line, the euro gained in strength against other currencies, most notably the US dollar, which sent - as it always does - US stocks upward.
There's really no further analysis to the US stock market needed, so long as Europe remains in crisis and the unannounced policy of the Fed and Treasury is to keep the US dollar weak. Whenever the Euro is rising, so too US stocks, and when the Euro is down, so are equities across the pond. It's a losing strategy in the big picture view, but that doesn't prevent Wall Street's masters of the universe from making bank on both sides of the trade.
One could suggest that the entire global economy is now tied to the fates of Greece and Italy, though in reality, it's the Fed and the major US banks that are pulling most of the strings. Just as fundamentals no longer matter for stock-picking, so too the daily drumbeat of Euro-craziness that manifests itself in speeches, statements and the occasional turnover of a sovereign government.
Keeping the dollar week and the Euro strong is all that matters, even though the Euro should, realistically, be trading at par with the dollar or lower. Eventually, this is a failing policy that will flatten everything: stocks, currencies, politicians and their weakened governments.
The correlation is not perfect, however, as our New highs - New lows indicator below demonstrates in perfect fashion. Today was a "risk on" event, though more of a momentum play than a true rally.
On the domestic front, Jefferson County, Alabama, filed for Chapter 9 bankruptcy protection on Wednesday after defaulting on a sewer project that plagued the county for nearly two decades. The county, which is home to Alabama's largest city, Birmingham, filed for $4 billion, making it the largest municipal bankruptcy filing in US history.
The story behind the bankruptcy is a pantheon of the the ills plaguing the once-great United States, involving the EPA - which ordered the county to upgrade its sewer system - corrupt local officials, who were offered and took sweetheart deals from - you guessed it - Wall Street speculators. There's blame and shame aplenty to go around, as 22 local officials were indicted and convicted for their roles in the corruption.
The federal government has bailed out banks, insurance companies and automakers, but when it comes to cites where Americans actually live and work, no dice. The county goes belly-up, leaving creditors holding worthless paper. It's an American tragedy brought to you by the crony capitalists spanning the nation.
Also making domestic headlines, RealtyTrac reported that foreclosure filings rose seven percent in October from the previous month, as lenders got back to work after the robo-signing scandal had derailed their efforts for a year. While Nevada remained atop the foreclosure rate for the 58th straight month, California took over as the top dog for October with a 17% spike in default notices. The top ten states for foreclosure activity (these are the places worth considering moving to in the next 3-5 years because housing prices will be ridiculously low) are Nevada, California, Arizona, Florida, Michigan, Georgia, Illinois, Idaho, Oregon and Colorado.
God bless America. We've been in a depression for three years but nobody will admit it. It's a shame, because this is a good country with some very wonderful people, but our political leaders and Wall Street bankers have bastardized the entire financial system.
Tomorrow being Veteran's Day, be sure to honor our living and fallen military men and women, and, maybe, save a little bit of wrath for those who made them fight, and die, for causes that benefitted a few at the expense of the many.
Dow 11,893.86, +112.92 (0.96%)
NASDAQ 2,625.15, +3.50 (0.13%)
S&P 500 1,239.70, +10.60 (0.86%)
NYSE Composite 7,423.64, +70.19 (0.95%)
NASDAQ Volume 1,908,959,750
NYSE Volume 4,015,058,500
Combined NYSE & NASDAQ Advance - Decline: 3629-1866
Combined NYSE & NASDAQ New highs - New lows: 36-104
WTI crude oil: 97.78, +2.04 (WTI is becoming WTF. Oil up more than $20 in the past six weeks.)
Gold: 1,759.60, -32.00
Silver: 34.11, -0.26
There's really no further analysis to the US stock market needed, so long as Europe remains in crisis and the unannounced policy of the Fed and Treasury is to keep the US dollar weak. Whenever the Euro is rising, so too US stocks, and when the Euro is down, so are equities across the pond. It's a losing strategy in the big picture view, but that doesn't prevent Wall Street's masters of the universe from making bank on both sides of the trade.
One could suggest that the entire global economy is now tied to the fates of Greece and Italy, though in reality, it's the Fed and the major US banks that are pulling most of the strings. Just as fundamentals no longer matter for stock-picking, so too the daily drumbeat of Euro-craziness that manifests itself in speeches, statements and the occasional turnover of a sovereign government.
Keeping the dollar week and the Euro strong is all that matters, even though the Euro should, realistically, be trading at par with the dollar or lower. Eventually, this is a failing policy that will flatten everything: stocks, currencies, politicians and their weakened governments.
The correlation is not perfect, however, as our New highs - New lows indicator below demonstrates in perfect fashion. Today was a "risk on" event, though more of a momentum play than a true rally.
On the domestic front, Jefferson County, Alabama, filed for Chapter 9 bankruptcy protection on Wednesday after defaulting on a sewer project that plagued the county for nearly two decades. The county, which is home to Alabama's largest city, Birmingham, filed for $4 billion, making it the largest municipal bankruptcy filing in US history.
The story behind the bankruptcy is a pantheon of the the ills plaguing the once-great United States, involving the EPA - which ordered the county to upgrade its sewer system - corrupt local officials, who were offered and took sweetheart deals from - you guessed it - Wall Street speculators. There's blame and shame aplenty to go around, as 22 local officials were indicted and convicted for their roles in the corruption.
The federal government has bailed out banks, insurance companies and automakers, but when it comes to cites where Americans actually live and work, no dice. The county goes belly-up, leaving creditors holding worthless paper. It's an American tragedy brought to you by the crony capitalists spanning the nation.
Also making domestic headlines, RealtyTrac reported that foreclosure filings rose seven percent in October from the previous month, as lenders got back to work after the robo-signing scandal had derailed their efforts for a year. While Nevada remained atop the foreclosure rate for the 58th straight month, California took over as the top dog for October with a 17% spike in default notices. The top ten states for foreclosure activity (these are the places worth considering moving to in the next 3-5 years because housing prices will be ridiculously low) are Nevada, California, Arizona, Florida, Michigan, Georgia, Illinois, Idaho, Oregon and Colorado.
God bless America. We've been in a depression for three years but nobody will admit it. It's a shame, because this is a good country with some very wonderful people, but our political leaders and Wall Street bankers have bastardized the entire financial system.
Tomorrow being Veteran's Day, be sure to honor our living and fallen military men and women, and, maybe, save a little bit of wrath for those who made them fight, and die, for causes that benefitted a few at the expense of the many.
Dow 11,893.86, +112.92 (0.96%)
NASDAQ 2,625.15, +3.50 (0.13%)
S&P 500 1,239.70, +10.60 (0.86%)
NYSE Composite 7,423.64, +70.19 (0.95%)
NASDAQ Volume 1,908,959,750
NYSE Volume 4,015,058,500
Combined NYSE & NASDAQ Advance - Decline: 3629-1866
Combined NYSE & NASDAQ New highs - New lows: 36-104
WTI crude oil: 97.78, +2.04 (WTI is becoming WTF. Oil up more than $20 in the past six weeks.)
Gold: 1,759.60, -32.00
Silver: 34.11, -0.26
Financing Your Personal Injury Claim
We've all seen the ads for personal injury lawyers on TV, promising to fight for your rights and help you obtain a settlement from an insurance company.
It's big business and personal injury settlements or awards by courts can run into the tens or hundreds of thousands of dollars, and, in severe or exceptional cases, even more. The lawyers at most high-quality personal injury firms are battle-tested and necessary for claimants fighting insurance companies, all of which have their own legal teams of highly qualified attorneys.
While getting a lawyer to handle your case is usually as easy as making a phone call - because most will work on a percentage fee basis with minimal up-front costs - waiting to get paid on your claim can be stressful, since many times, the personal injury sufferer will be out of work while the slow court process proceeds.
Because of the long time between an accident and an award, there are companies which provide lawsuit cash advances to bridge the income gap and offer personal injury claimants money to make ends meet while their lawsuit commences.
Terms are fairly straightforward and the money can be repaid upon receipt of the personal injury award. Leave it to the legal profession to come up with a solution to what can be a serious situation.
It's big business and personal injury settlements or awards by courts can run into the tens or hundreds of thousands of dollars, and, in severe or exceptional cases, even more. The lawyers at most high-quality personal injury firms are battle-tested and necessary for claimants fighting insurance companies, all of which have their own legal teams of highly qualified attorneys.
While getting a lawyer to handle your case is usually as easy as making a phone call - because most will work on a percentage fee basis with minimal up-front costs - waiting to get paid on your claim can be stressful, since many times, the personal injury sufferer will be out of work while the slow court process proceeds.
Because of the long time between an accident and an award, there are companies which provide lawsuit cash advances to bridge the income gap and offer personal injury claimants money to make ends meet while their lawsuit commences.
Terms are fairly straightforward and the money can be repaid upon receipt of the personal injury award. Leave it to the legal profession to come up with a solution to what can be a serious situation.
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