How to be a tax hero - Beer, Bacon and Business

Do you dread it when tax season rolls around? Do you always wait till the very last minute to file your taxes? Are taxes, in fact, the bane of your existence? But wait. Aren’t you tired of cowering and hiding each time tax season draws closer? How then can you brave tax season without fear? Maybe it’s time for a plan of action. Maybe it’s finally time you took matters into your own hands and looked tax season in the eye and said, “I am a tax hero and you’ve got nothing on me!”  

Let’s be honest, tax season can be a tad daunting. The truth is doing your taxes is just one of those things you learn as you do. But there’s always a start and this just might be it! Armed with this knowledge, there’s no way you’ll dread tax season as it approaches. In fact, I may even go as far as to say this is the first step you’ll ever take towards becoming a tax hero!

References:

• ehow.com/list_6694273_tax-saving-tips-usa.html
• 1800Accountant.com
• money.usnews.com/money/blogs/my-money/2012/03/02/tips-for-preparing-your-taxes

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Author Bio:

Jordan is a 28 year old entrepreneur and a former Business Developer. With an insatiable appetite for the good life, keeps himself current on topics related to technology, gaming and his first love, food. He shares his views in his blog posts hoping to provide valuable information to entrepreneurs like himself who wish to establish a successful business.

Motivation Monday - What is motivating you this week?

This week has been a roller coaster of emotion and events. After the car accident there were issues getting in contact with the other party and the police gave me incorrect information, so I had to get that sorted. Although they did tell me she got an official warning and I have since been able to make contact with her. My insurance it turns out was canceled last year (not by me!), as apparently my car was sold, so I am not currently insured. That is being investigated but currently it leaves me to sort out the mess AND with existing damage my car cannot be insured! I don't want to drive it around at all uninsured.

I had a lot of things I had to deal with surrounding some pretty traumatic events from my past so this week I felt was pretty much a write off. Oh, and throw in no internet so I couldn't even throw myself into work to distract myself. Not good.

With that my main motivation this week has come through my family and my partner. My little sister took me to Sydney to have some family photos done. This has been on my list forever and I really appreciated it. My big sister listened to me whinge and whine. My partner was just perfect with his help and advice, as always. And of course the rest of my family were there in different ways too.

I don't remember where I heard this, but it hit home. As bad as things can be, it is up to us, our attitude and how we choose to respond or what action we choose to take that ultimately decides how hard it is. Complaining, whinging, looking at the negative and not looking for a solution is going to make things a lot harder than they need to be.

You know the saying, patience is a virtue? Being patient, focusing on an attitude of gratitude and looking for the positive will help you to cope but also define you as a person.

Lastly, never let fear decide your fate. Feel the fear and do it anyway! FEAR = False Evidence Appearing Real. We get scared of so many things when we don't need to be. Instead of allowing fear to take over, think about what you are scared of, why you are afraid and what can you do to overcome that fear?

What is motivating you this week?

Accident insurance - do you have it?

As a single parent there are things you have to think about that don’t matter as much when there are two of you. When I was married if I got sick or injured I had another adult there to help. If he got sick or injured, I was there to look after the kids. The injuries and illnesses weren’t such an issue. He could take sick leave when he had permanent jobs, meaning he was still paid when either one of us needed him to be at home.

However, now that I am single, it’s not as easy as that. Usually, I just push through, but on occasion I have needed assistance. I have been fortunate since being single to always have someone available to help such as my parents or siblings. I’ve had my back go out and been in a car accident but thankfully not needed help for an extended period of time nor have I gotten very sick. I know that it could happen at any time though and plan for it.

The bills can quickly pile up when you aren’t working, but even more so when you need to hire extra assistance. Think about the different injuries and illnesses you have had. How long were you sick or out of action for? What needed to be done that you couldn’t do? Do you think you would have recovered quicker if you could properly take some time off instead of pushing through like most of us tend to do?

The accident insurance cover varied and in some cases it was only $500 (such as for injuries to ribs) but payment was up to $100,000 for severe injuries. Premiums vary from less than $5.

Of course, another good thing to have is an emergency fund. Most people recommend a small one of $1,000 while paying of debt then establish an emergency fund of 3 – 6 months worth of expenses to help tide you over when things happen, such as accidents or job loss. It is recommended this money is kept separate to other savings.

If you are still establishing an emergency fund or find it too hard to save at all and think if an accident happened to you, you’d be in a tough situation, you should probably consider accident insurance.

Do you have accident insurance? What are your thoughts on it? 

Dating - how to save money, what to do and what not to do!

I've been divorced nearly a year. Pre-marriage dating was pretty easy. I got asked out, I said yes. He paid, I offered to, we had fun but the rules were more clear. I was a member of The Church of Jesus Christ of Latter Day Saints and mostly only dated other members. Expectations were clear, we lived by the same rules, no sex before marriage, it was likely on a first date you wouldn't even kiss. I have a 20year old sister who has never kissed anyone. She has dated, but never kissed anyone and I think that's great. My blood siblings are all with the first person they slept with, their spouse. I like that. I liked how simple dating was in that sense.

I am not a member anymore. I am divorced and have dated both within and outside the church. WOW! It was an eye opener. I have been very clear that I was raised Mormon and have different standards to a lot of people I know. I won't be sleeping around and for the most part guys have been respectful of that. I know what I want, what I will and won't do etc.

How to save money with dating
This is sexist, but all the guys I have dated still wanted to pay, in fact even many of my male friends, who I am not dating insist on paying. I always offer, which I think is fair. At the same time, if a guy is on a date with me, we have talked a fair bit and he knows I am fairly traditional in many ways, which is probably why they pay. Some say they believe a guy just should pay. It's not set in stone anymore. Splitting a bill is more common I believe, but my personal experience and that of many of my friends begs to differ. Also, I've read about girls who just date when single for the free food and entertainment. If you are female, it is probably easier to save money on the actual date than it is for guys.

Free fun
Find out what free events are on and attend them. Free events aren't bad and if you choose to do a meal plus something, it leaves more money for the meal. Festivals, night time spectaculars, local attractions and events are all good options. Google free date ideas and there are a sack out there.

Prepay and use coupons
You don't want to come off as stingy on a first date so you probably don't want to whip out a coupon straight away. Many places let you prepay and use coupons online. This way you save money and they don't need to know!

Get creative
Instead of just dinner and a movie, find something fun or unusual in your area to do. Or go do things you used to do as kids. Find out what the other persons interests are and do something based on that.

Only date if you want to
When I was young I had a rule, I would never say no to the first date. This was when I dated Mormons and knew what I was in for. I did it because I thought if a guy has worked up the courage to ask you out, you should at least say yes. Subsequent dates you can say no to, but the first one takes a lot for a guy to ask. Turns out I was the first date ever for a few of my guy friends, which I did not know at the time, but I am glad I said yes. They knew my rule too and it gave the confidence to ask others.

Now, I will only date someone if I want to and have turned down a lot of dates. My time is precious. I am not going to waste it getting read for a date I am not really into. I have to pay a sitter (or use my family), spend time getting ready, take time out away from my kids that really could be used for other things so I now say no.


What to do on a date
Have fun! A date is a way to get to know someone better. You don't have to sleep with someone just because they took you out. A dinner and movie does not equal play time later.
Relax, get to know each other, ask questions, laugh, just be you.

Some examples of first dates of mine, guess which ones got a second date?
- Dinner and movies, this is by far the most common
- KFC and a cemetery
- Coffee/ a drink
- Bowling
- A church dance (when I was Mormon)
- Treasure hunt
- Bush walk in The Blue Mountains
- Beach
- Dinner at the parents
- Party

Most dates I have been on have been pretty ok. I have fun, we laugh a lot and generally I know them a fair bit before I agree to a date. My dating habits since divorcing are very different to pre-marriage.

Mainly though, the best dates I have been on, the guy just relaxes, cracks jokes, doesn't ask me a billion questions, instead just lets the conversation flow. We either have stuff in common or we don't. I don't like forced conversations. I don't really care what we do most of the time, as long as it is fun and he knows he's 'not getting any' and doesn't put pressure on me. So far, 90% of guys have been good with that.

What not to do on a date
Don't go to a cemetery. Just don't. It doesn't matter if it is the oldest one in the Southern Hemisphere. Unless she is a massive history buff and suggested it, just don't. And if you do, don't answer your phone and wander off, leaving her in a creepy old cemetery, in the dark, at night. She will definitely turn down future dates. Or is that just me?

Don't wear too much cologne/perfume. Yes, wash and smell good, don't bathe in it.

Girls, offer to pay. Guys, try not to get offended if she doesn't. Some girls are raised the guy is supposed to pay, other girls are raised both pay. Then of course there are independent girls too. If it is an issue, discuss expectations, but on a first date everyone should be prepared to pay half or all. If you don't have the cash, be honest and find something free and fun to do.

On a first date, don't surprise each other. Generally, it is a good idea to know what you are doing so you can dress appropriately. A girl in a dress doing rock climbing is not her ideal date. A guy in jeans and a tee at a fancy restaurant is also not good. Find out what you are doing and dress accordingly. I am a dresses girl, rarely do I wear pants and even then I only own 2 suit pants, 3 gym pants/leggings and NO track pants or even jeans.  

Don't expect a lot. Just expect to have fun and get to know each other.

FYI - no, I'm not single and I'm glad. 

So tell me, what are your experiences dating? What are the expectations? Best or worst date? Do's or don'ts?

Living without what we deem to be basics

This week has been interesting - car accident, internet issues, insurance issues and more. I have to change a lot of my plans and life at the moment because of it all. What I have always deemed necessities in my life, might not be as necessary as I thought.

How many things in your life do you view as a necessity, that you could get fine along without?

Car
My car has always been deemed a necessity to me. Mine is still drivable after the accident. Mechanically it is still sound, the bumper and a couple of panels look worse for wear but are still firmly attached.

I added up the cost of public transport vs having a car last year. At the time I was travelling to Sydney every second weekend, volunteering twice a week and y lifestyle needed a car. It would have been more expensive and very time consuming to not have one.

Looking at my life now, I no longer drive to Sydney every second weekend, in fact I barely go there at all. We walk to school most days. I had to stop volunteering and apart from mornings where we are running late, I hardly use my car. Groceries (which I could get delivered), family things and public speaking are the only times I really need my car. I like the convenience of having a car, but it is no longer a necessity and is probably more expensive to keep the car than to use public transport now.

Internet
In some ways this is a necessity for interviews, Skype mentoring and being able to fix anything I need to with my business.

I switched internet providers due to so many outages and slow speed with Jiva. The day I switched back, Internode had issue with my exchange and the whole suburb went out. Now it looks like there is an issue specifically near my house. It will take 3 days to get a technician.

I rely on the internet for work, but the library and many places have free wifi. It is not a necessity as much as many people feel it is. Mind you, you can make money online to improve your finances and I prefer to have it at home. I feel not having it is detrimental to my business, but I can cope without it.

TV
I am one of the few people I know who don't watch TV. It just doesn't interest me. I cannot think of a single show I feel compelled to watch the whole season of or 'can't miss'. I will admit I like The Big Bang Theory and Sons of Anarchy, but I see no reason to pay for TV.

I can think of so many more things we deem necessities, when in actual fact they aren't. We would get along just fine without them. Of course, what is necessary for one, is different for another. What things do others deem necessities that you don't?

Do you have income protection insurance?

Does your family rely on your income? Do you live on your own? What would you do if your income suddenly disappeared? What if you got seriously ill or injured? 

On the weekend I had a car accident. It wasn't my fault and thankfully no one was seriously hurt, it did make me think though. The other drivers car insurance will cover it so I am not worried about my car or the actual accident. We were taken to the hospital (my daughter had chest pains and marks from the seatbelt, but was ok). I was put in a neck brace because of neck and back pain.

Laying on a stretcher, unable to move made me think about my family. My daughters were put on 2 chairs just behind me and I was helpless. They were fighting, arguing and causing a lot of noise. A few nurses offered icy poles and got them blankets when they needed, but I couldn't do a thing.

I realised how severe my situation could be if anything were to happen, if I were seriously injured or suffered an illness, how would my family cope? Financially, I have some passive income and there are government payments, but those payments are not equal to income. They are aimed at helping you survive.

So what can you do to protect your family? 
Income protection insurance is an option, which will give you 75% of your income for a period of 1 to 2 years. It starts at just $6 a week, which is less than a takeaway meal for one! There are some things to consider when taking out the insurance:
1.) Get adequate cover. Don’t just go for the cheapest option, get what you need and are eligible for. 2.) Live on less than you earn. You will get up to 75% of your income. If you are living on 100% of your income and not saving anything, you need to change that quickly and not just because of the insurance but because you need to save!
3.) Have an emergency fund. There is a 30 day waiting period before insurance will kick in. Insurance claims can take time and with at least 30 days of no payment, you need something. You do have sick and holiday leave you can use from work, but it is important to have your own savings.
4.) Package your insurance. Having multiple policies with one insurer can produce significant discounts. Always compare to make sure you are getting the best deal across the board and are covered for everything you need. With your comparisons make sure you take into account theses discounts to get a clear idea of your premiums.
5.) Get healthy. Just like health insurance, income protection insurance premiums are lower for non smokers and those who are healthy or try to live healthy. Your risk of many diseases are lower, making you less of a risk to the insurance company.

Do you have income protection insurance? Have you heard of it before or ever had to use it?

Motivation Monday - Where I got mine this week

Motivation comes in many forms. I love inspirational quotes and have them written on my mirror. Last week I had "One step at a time. One day at a time." sent in a text to me from a friend to help remind me that I can only do one thing at a time and despite numerous traumatic events, just think about and deal with one at a time.

"Don't think. Don't hope. Do!" is a reminder to take action and was said by John Kennedy SNR, coach and player for Hawthorn in 1975 to inspire the players in the grand final.

And finally I have this one:

To remind me I am strong, I can achieve and have achieved great things. I should never underestimate myself, nor should anyone else. 

Here are a few others I heard this week which helped me:

It is very easy to wallow and be unhappy when things do not work out as planned. This week I had a car accident. Thankfully my car is still drivable, it wasn't my fault and the emergency services were on scene within 10 minutes. Also, 3 cars stopped and 2 of them were first aid officers trained for crisis. I was not at fault and it will get fixed.

I could have gotten upset and stressed. But I haven't. I choose not to worry, it will work out and none of us were injured severely, so why be miserable about it? Why be miserable about anything?

I try to practice and attitude of gratitude and the quote below is a good reminder for that...

I am ambitious and have strong desires for a lot of things. But I should never forget how blessed I have been, how far I have come and the wonderful things in my life right now. 

Lastly, you are in control of your own happiness:

What is motivating you this week?

Combining your personal life with work life - is it always a bad idea?

Source

Do you keep business or work life separate from your personal life?

Blogging is my business, along with writing and speaking. When I first started on here I was anonymous, but it was always from a personal angle, so my work and personal lives were never fully separate.

There are areas of my life I won't discuss, and there are boundaries, but for the most part I have been very open. I realised today how much combining my personal and work lives has benefited my business.

Why did I combine my personal life with my business?
For starters, I am my business. I landed a publishing contract for 365 Ways To Make Money within a year of starting this blog. Publishing a book meant I had to come out. I chose to set up a new site for the book and my new career path.

Other reasons I combined included:
To be more relatable. A person behind a screen isn't someone you generally connect with or relate to. My business is aimed at helping people with their finances. That is pretty personal and I really feel being open about my own life has helped others relate to me on a more personal level.
To help others. As a survivor of domestic violence, stalking, rape, robbery, homelessness and mental illness, being open about who I am and challenges I have faced has helped other people, especially people suffering in their own lives now the things I went through. People have told me it has given them hope that there is light at the end of the tunnel. Others have told me it inspired them to get help and others have said that being open about my mental illness issues helped them see things from a different perspective and helped with their relations and the people in their lives.

What do I combine when it comes to my personal life and work or business?
Personal experiences: not just things I am doing to make and save money, but also obstacles in my life. I was pretty quiet about some dramatic events when they were happening a couple of years ago, but I soon learned it was better to be open and it has lead to other opportunities.
Goals: my goals are out there for everyone to see. My life goals blend with my business goals in many ways because my business is what supports my family and is necessary to achieve many of my life goals.
Life: such as what is happening to me, what is going on in my life and on Instagram you often get peeks into my day, the kind of life I live and things I get up to. I'm kylieofiu on Instagram.


What do I keep separate?
Money! It is extremely important to keep business accounts and personal accounts separate and not mix the money. Pay yourself a wage, work on using business money to improve the business and keep personal money for your personal life.
Partner/romantic relationships: I have shared a bit about my ex husband, although when married he was not mentioned a great deal, his name wasn't revealed and I didn't post family photo's. I have talked about the divorce and abuse, but I haven't really discussed much about men I have dated since. I hint at someone special in my life, but their name and image will never be public. If I end up remarried, which is not in my plans, you will ALL know!

How has it benefited both my personal life and business?
Exposure: being open about my experiences has benefited my work through exposure in magazines and newspapers such as The Sydney Morning Herald, The Renagade Collective, That's Life, Cleo, The Sunday Telegraph and more, plus radio, Tv and websites I respect like Women's Agenda. I have been interviewed and have more interviews lined up about my experiences.
Charity work: I have done great work with charities and helped in some of their campaigns. The current one I am involved in is the CEO sleepout, raising funds and awareness for St Vincent de Paul to assist the homeless.
New direction: being open about who I am and what has gone on in my life has seen my life and business take a turn, for the better. Instead of being focused on myself, my millionaire goal and money, I am focused on helping others, especially the homeless and disadvantaged. This has lead to speaking opportunities and a new book on overcoming obstacles, people going from being homeless to successful and I have met, interviewed and learned from amazing people because of it.

How has it negatively impacted my life and business?
Exposure: at times I have felt over exposed. I have had journalists take what I have said and twisted it to suit their agenda's, completely changing facts in some articles. Fortunately, most journalists have been fantastic, especially all the ones I have dealt with lately.
Having so much 'out there' I do wonder what people sometimes think. I have had instances where people recognised me, or where I have agreed to coffee and the person Googled me before I get there leaving me feeling very exposed as they knew a lot about me and I not much about them. These weren't business related coffees. If it is business or related to my work, I expect them to know a lot about me and that is ok.

Other than feeling exposed a bit, I don't feel there have been negative impacts on my business by combining, but then as I said before, I am my business.

How did I work out my boundaries for both my personal life and business?
There is a lot in my personal life which would shock people that I have not shared. A lot of court appearances are happening (I am a victim/witness), dealing with police and the fall out of some events I have not shared. I decided not to share because of the impact it would have on my children.

I have a few questions I ask myself when I am combining these aspects of my life and sharing personal details.
1.) How will this impact my children?
2.) How will if impact my family/loved ones?
3.) How beneficial is it to my readers/other people?
4.) Does this need to be shared? Why and why not?
5.) What negative impacts are there for combining?

If combining that aspect or sharing that part of my life will have negative outcomes, I don't do it. If my family don't want me to share something, I don't. If it is not something that will help others, then I don't see the point in sharing that part of my life. Ultimately, my daughters and family come before everything else in my life. Hence why they are the first 2 things I consider with everything.

I set the boundaries by knowing what I am comfortable with sharing. I worked on my self confidence, worked out what my 'mission' or vision for my life and business is then I knew what was ok to combine and what wasn't. I also go comfortable with saying no to anything that I felt was not in line with my vision.

Should you combine business and personal life?
I can't answer that for you. It's your choice. If you choose to combine them make sure you set your boundaries, have your mission and vision for both personal and business matters and be confident and firm in your decisions.

As a blogger, I think it is very beneficial to combine and share parts of my personal life with my business.

Do you combine or do you keep them all separate?

What to do when your plan isn't working!

What do you do when life throws curveballs and things do not go as planned?

I set big goals. I create plans. I work hard. I am motivated and I achieve a lot. In November last year I posted my goals for this year. I had some pretty hefty aspirations and had no doubt I would achieve them. Then January 31st came and my world as I knew it was ripped out from under me. The events that took place in the weeks prior, without my knowledge, and what I had to do as a result in the coming weeks rocked me to my core. I thought I was past the worst, but I was wrong.

I am pretty open about my life, but this, this I am not sharing. Other than to say it changed my view on everything. It changed my plans. It changed my ability to follow through with those plans. To be honest, for the last 6 weeks I have been running mostly on survival mode, presenting a decent front, working when I can and just being a mum.

All that really matters to me is my children. Things are not going to plan for 2014, as such I need to make changes.

When plans are not working you need to:

1.) Review
What is working? What isn't working? Why and why not? What is the end goal? How can you achieve that? Is that goal still relevant to your life?

There is a difference between quitting and knowing when you have had enough. Sometimes life changes and goals we set no longer apply to our lives. Do NOT just give up if a goal just seems too hard.

2.) Be honest with yourself
Was the plan unrealistic in the first place? Did you have the passion and determination to do it? Are you changing because it seems too hard and you have lost motivation or are you genuinely in a position where the plan is no longer serving you?

Don't try to justify your actions. Don't try to reason with yourself. Just be honest. Did you self sabotage? Are you quitting because it feels too hard when in reality if you changed your plans you could still achieve your goal?

3.) Make changes
If the goal is still relevant and still a desire and you are not just being lazy or throwing things in the ;too hard basket' then you need to make some changes. Having reviewed the plans and since you were honest with yourself, you are now in a position to see what changes can make this goal happen and create a new plan.

4.) Implement the changes
Creating a new plan is pointless if you don't implement the changes and stick to it. Action speaks louder than words. Get to work. Don't spend all your time planning. You know your goal, you know what you need to make it happen so go do it.

5.) Motivation
Motivation can be hard. Surround yourself with like minded people who want to lift you higher. Seek out mentors to assist you with your goals. They might not even know they are your mentors. You can learn from anyone, anywhere.

Work out what motivates you and use that to help you when your plans seem too hard or appear to be falling apart.

6.) Take time out
Whenever you need to, take a break. As long as it is not just you procrastinating, a break can help with motivation, inspiration and keep you focused. All work and no play is not a way to live.

 So what changes did I make?
- I pulled out of public speaking for the first part of this year. My daughters need me and it is just not practical to be going everywhere else. I will pick up public speaking in a couple of months again and am keeping my engagements in the latter half of the year.
- My publisher wanted to go a different angle with my book and I don't want to, so my first book that was planned to be out later this year might not happen on schedule.
- I pulled out of helping at Ainslie Village and setting up the centre there.

I am having a meeting next week with a few others to discuss our plans, make suggestions and help each other achieve more. It's after this meeting that I will finalise my decisions and direction I want to go with everything.

What do you do when things do not go as planned?