The Sonic Boom

Eddy

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Credit Union Money Market Account

Taking care of your finances is something we all look at and need to at least once in our lives, to be sure that we have either savings put away for a rainy day, that our retirement is somewhat if not completely taken care of, and that we have emergency funds for ‘just in case.’

But what seems daunting for most people looking to begin a savings or open an account where you can have a direct debit put money away each month but that is still easily accessible if a situation came up that needed immediate monetary aid.

The importance of a bank account and savings.

The most amazing fact about money and banking, in general, is that the practice has been around for centuries with the oldest (and STILL operational) bank opened as early as the 1400s. In ancient Greek, Roman, and Egyptian times there is evidence of money lending and ‘credit’ shown to be used in the form of tokens and the more common and popular option of cattle and the art of bartering (see more about that here https://en.wikipedia.org/wiki/Barter ) which has developed into the modern banking we know today.

So, the big question is, why do we need to have an account? Why can’t we do what the old wives’ tales express of keeping your money in a jar or under the mattress?

Firstly, because you may end up needing too many jars and then you’ll need to store or hide them so that your money is not ‘on display’. Secondly, sleeping on anything other than a bamboo gel mattress (personal preference) is not going to be comfortable, and as the money piles up so will the height of the mattress.

Every person has their reason for wanting or opening a banking account, let’s take a quick look at the topmost prioritized reasons why.

  • Safety. This was a big factor for a lot of people, knowing that their hard-earned money is safe and sound in the account as opposed to in the home somewhere is a big weight off the shoulders. If you were to be burgled your physical money is not protected and it is essentially ‘free’ money for the thief.
  • Simplicity. All homes have large appliances and equipment, and speaking from experience having just moved into our newly built home (but not yet complete- are they ever) the larger appliance also come with large price tags. Going into a shop with a bag full of cash that’s been recently printed might be best left to the movies. We are more than likely needing to pay with a debit or credit card which not only saves you walking around with a bulging wallet, but you have the evidence that the transaction has been approved and gone through.
  • Spending. Seeing all the transactions in one place helps you to keep an eye on what you are spending, to keep on track with savings you may be accumulating till you have enough to purchase what you need and to tweak your budget as you see fit. It is easy enough to get carried away with a bank account full of money, so having it broken down into an easy-to-read format makes life that much simpler.

Many customers and bankers have a different reason for having a bank account, and that’s fine, each to their own as my granny used to say, see this link to learn more about the topic and to evaluate if you are on the right track with your financial plans.

There are different accounts and plans suitable for everyone and their needs, as well as to fit their current earnings, and to work with the banks and representatives to put even a few dollars away each month.

Emergency financial assistance.

Life as we know it is full of surprises, no matter how much we think we have things under control, Mother Nature likes to throw us a curveball from time to time and keep us on our toes. The problem with this is it usually comes with needing some form of finance, and quickly. However, we don’t all have immediate access to a big pool of money and so the credit part of banking comes into play.

If you think about it, we have all had some experience, albeit small, with a line of credit. It may have been as small as asking your parents for a few hundred dollars to buy the latest trainers available only for a limited time and which is why you needed the money then and there. Or perhaps you are wanting to buy a new car and you need the lump sum of a deposit to secure the vehicle.

This large sum of money is best applied for and accepted by large institutions that have the financial stability to support you temporarily. People who have opened a credit union money market account have essentially had the silver lining in their dark cloud and the request to their prayers answered, and you could have the same.

There is always a way to get a helping hand in life, be it through your friends, family members, or a banking institution that understands we all need help from time to time there is something for everyone.

You have the chance to make a better life for yourself with a financial lifeboat, and if you do it through a banking business company then all the better, live the quality of life you deserve.

 

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Background and the Advantages Accounts Payable Capitalized.

Within a company, the finance department may have heard of the accounts payable automation. For those who are still new, of course, and feel confused about what exactly accounts payable automation is? So what is the background? Why should you use it? Are there any advantages? These various questions often arise in the minds of the business people who do not understand but are interested in this software. For more details, below is a little information related to automated accounts payable.

The Background

Accounts payable automation is an attempt to control accounts payable. Where the account payable itself can be interpreted as trade payables which are the company’s obligations to other parties that must be fulfilled in a short period of time. Accounts payable may be owned by a company for several reasons, such as the company buying merchandise on credit.

The purchase of goods is also of course related to the company’s operational activities. In other words, the goods purchased on credit are intended to support the smooth operation of the company so that the company’s goals can be achieved. Purchase of merchandise is intended for resale to consumers. As with debt in general, trade payables of course must also be repaid and repayment must be made in a short time. Accounts payable or accounts payable related to the company’s main business activities.

However, this should be controlled so that the trade payables owed by the company do not swell. Because of the company’s debt swells, over time the company will experience losses. It could even be that the company went bankrupt because it had too many accounts payable. To overcome this, of course, it takes the role of accountants who can make financial reports and accounts payable reports properly to be submitted to the leadership. So that leaders can exercise more control over spending on accounts payable. This is where the importance of the presence of accounts payable automation.

Advantages of accounts payable automation

Accounts payable Automation transactions certainly need to be analyzed carefully, because this is related to the expenditure of money by the company. In other words, every recorded trade payable becomes a reason for the company to spend money. Therefore, trade payables should not be done haphazardly.

With accounts payable automation in a company, the following advantages can be obtained:

  • Created managing accounts payable so that the company’s debt does not exceed the limit.
  • The amount of accounts payable will affect the company’s expenses. An accountant needs to control or manage accounts payable so that the company’s accounts payable can run properly and effectively.
  • Managing accounts payable must be done so that the company’s expenses are not excessive so that companies that carry out accounts payable do not suffer losses.

With the explanation above, it is quite clear that a company needs support assistance who is able to control accounts payable automation better. So the company does not run the risk of loss. Here is also the importance of trying to use Medius. Where it can be useful to control the company’s expenses more thoroughly, including trade payables that are needed in the company later. Not only that, with this technology, it is hoped that the company will also benefit from a more structured and automated system. So that it doesn’t bother the company’s accountants in terms of setting up and implementing accounts payable automation.

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Current Interior Design Trends To Look Out For

With every new year we see new arising interior design trends. The start of this decade saw an outcome that no one had expected and resulted in the interior design world changing shape as more people have been spending time at home than ever before. Social changes have a large impact on the design world and here we are going to dive into the interior design trends we have seen forming over this past year.

Colour Palettes Featuring Various Shades Of Green

With increasing popularity, green can be spotted being used all over people’s homes. The colour is covering kitchen cabinets, bathroom tiles and large pieces of furniture like sofas and armchairs. Dulux’s colour of the year for 2020 was a colour called Tranquil Dawn which could be described as a subtle green colour, this has transferred to this current year with different hues from olive green to forest greens being styled.

Scientifically the colour green has been found to relieve stress and decreased heart rates, it is closely related with calmness and tranquility. It is understandable after the disruptive year that everyone has faced why we feel the need for some peacefulness in our home.

Scandinavian Inspired Interiors Are Here To Stay

One trend that doesn’t seem to be going out of fashion anytime soon is the very popular Scandinavian interior design trend. It has been mixed with other design trends like the admired Scandinavian-Bohemian design trend. The Scandinavians use the word Hygge to describe a state of cosiness and comfort that your home should try to achieve. Your home should be an escape from busy, stressful or difficult times in life so it is understandable why this style has taken the world by storm.

The style’s elements are still relevant today which is why the style has become so timeless, the key elements include natural materials, clean lines, muted colours and high-end craftsmanship. Pieces of furniture that feature all these elements like Egg Chairs, Tribeca Coffee Table and DSW Chairs, are ideal for more than just Scandinavian homes. It is important to look for pieces that can transform with your interior style.

Flexible Home Offices

With a change in the working environment, we believe that home offices are here to stay with remote and flexible working styles on the rise after COVID restrictions forced people to not attend the businesses office locations.

We believe that we will start to see more dedicated home office spaces as issues with flexible work spaces is the lack of private space to help with concentration. Guest rooms may be replaced or doubled as a working environment, with a desk and suitable office chair to be used in more homes.

A Wider Introduction To Biophilic Design

Biophilia stands for a love of nature, and Biophilic design is an approach to connecting humans with nature through the use of interior design. We have an innate connection to nature and with more urbanised living situations we have seen a rise in well-being and mental health issues. This approach is important to try and achieve a happier and healthier living environment.

After a lot of time indoors, the pandemic has increased people’s desire to be outside. We believe we will be seeing more and more homes taking a biophilic approach to their interior design to help reconnect people with nature and satisfy that innate human connection we need.

 

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Awesome Cities For Real Estate Investment In 2021

The real estate industry is one of the biggest industries in the United States. Currently, this industry is seeing a large increase in activity in many areas throughout the nation. This is largely due to the fact that interest rates on mortgage loans are fairly low right now. It is also significantly due to the fact a lot of people are spending more time at home now.

There are many areas in the nation that are experiencing what is considered a seller’s market. These markets are the ones that typically have more potential buyers than houses listed for sale. Other areas are seeing what is considered a buyer’s market. These markets are the ones in which there are less potential buyers than homes listed for sale. Some areas, although not many, are seeing a balanced market.

Phoenix/Scottsdale, Arizona

The Phoenix, Arizona market, which also includes the popular city of Scottsdale, is one of the hottest markets in the real estate industry. This area offers residents beautiful weather almost year-round and is ideal for people who live active lifestyles.

You will find some incredible real estate for sale in Scottsdale, Arizona, with options ranging from beautiful condos in popular subdivisions to spacious luxury homes in peaceful areas.

The job market is another draw to this area. There are literally hundreds of job opportunities from many large companies. Amazon, Intel, Wells Fargo, and Banner Health are some of the largest employers in the Phoenix metropolitan area.

The inventory of housing is another reason people are investing in the Phoenix and Scottsdale area. The median housing price in Phoenix is around $275,000 and is around $475,000 in Scottsdale. The inventory of houses in the valley is considered low. This shortage of houses is allowing property values to steadily rise.

Investors also like this area due to the property laws that allow short term rentals. Airbnb rentals, short term leases, and other rental options are allowed in the Phoenix and Scottsdale areas. This is a great feature as the area is a well-known hotspot for spring break vacationers and other travelers who need short term accommodations.

Nashville, Tennessee

Nashville, Tennessee is another city that is a great place for real estate investments. Nashville is currently seeing a boom in construction in the housing market. It is also experiencing an influx in businesses that are looking for a centrally located site with fairly temperate weather year long. Nissan, Vanderbuilt, and St. Thomas Hospital are among the top employers in this beautiful city.

The inventory of housing options is another great reason to invest in Nashville. The inventory includes a wide range of housing styles to meet any household’s needs and budget. These properties range from historical plantations to modern, newly constructed, condominiums.

The median house price in Nashville is currently around $375,000. The median rental price in this city ranges from around $1,200 to $1,400 per month.

Charlotte, North Carolina

Charlotte, North Carolina is another awesome southern city that is a great place for real estate investments. Charlotte offers its residents a high stand of living in a business-friendly environment. The area has a lot of opportunity for growth and the population is warm and friendly.

There are lots of exciting things to do and places to explore. Some of these places, such as the NASCAR Hall Of Fame, also represent the largest employers in the area.

The housing market offers prospective buyers a variety of housing options to choose from. Single family residences of various sizes make up the majority of the housing inventory. However, there are also condominiums, townhouses, patio homes, and other architectural options to choose from. The median housing price in Charlotte is currently around $340,000. The most popular neighborhoods include Eastover, Uptown Charlotte, and The South End.

Tampa, Florida

Tampa, Florida is another great southern city to purchase residential properties. Tampa is located near the middle of Florida’s western coastline. The weather, ambiance, and variety of entertainment options are among the many reasons why Tampa is a popular city. There are also dozens of job opportunities located here. Tech Data, Jabil, WellCare Health Plans, SYKES, and Publix Supermarkets are some of the top employers for Tampa’s residents.

The housing market is another draw for many people to the Tampa, Florida area. The inventory of houses include small single family residences, luxurious estates, modern condominiums, and tons of waterfront residences. Residential properties range from around $150,000 up to over $10,000,000. The median price, however, is around $312,000. Short term rentals, as well as long term leases, are also acceptable in Tampa. The median rental price is around $1,225 per month.

Boise, Idaho

Boise, Idaho is one of the most popular northern cities for people to invest in real estate. It is one of the most affordable cities in the nation. Prices for homes range from under $100,000 up to over $1,000,000. The median price, however, is around $475,000. Rental properties are also allowed here and are fairly common. The median rental price in Boise is currently around $1500 per month.

The area of Boise, Idaho is great for active individuals who enjoy experiencing all four seasons. There are tons of exciting things to do in the city, both indoors and outside. Dozens of museums, art galleries, and other exhibits make for great learning opportunities. The Boise River Greenbelt is another popular destination for many people who enjoy walking, skating, biking, and other outdoor activities.

There is tons of room for growth, both in housing and in employment opportunities, in Boise too. There are dozens of employers in the city and plans for more to move to the area in the near future. Some of the biggest employers currently include Albertsons. Micron Technology, St. Luke’s Health Systems, and HP Inc.

Final Thoughts

Cities that offer higher standards of living for less money than California and New York are seeing an increase in population and job opportunities. Many of these cities are located in areas that offer hospitable living conditions.

The Phoenix and Scottsdale areas, located in Arizona, are among the hottest real estate markets in the nation. Nashville, Tampa, and Charlotte are also popular cities located in the southern region of the nation. Boise, Idaho is one of the most popular northern cities.

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Space Saving Ideas for Small Houses

Finding room to store your belongings while ensuring your space is clutter-free is tricky when you have a small home. Small living spaces are becoming more common and finding practical solutions for additional space is important when organizing your belongings. Avoid letting your house turn into cluttered piles by finding smart and efficient ways to add more storage. Here are storage options to help you make the most out of your space.

Moveable Storage

Rolling storage carts are a simple way to organize items while also being able to move them around your house as needed. An example is laundry supplies and cleaning items. Consider using a storage cart to store laundry and cleaning supplies. This cart can have a place in the garage, a closet, or your laundry room. Nevertheless, storage carts are a great way to store your goods and are accessible for your needs. Storage carts also come in different sizes and materials, so if you plan on having one out in the open, perhaps choose a more visually pleasing cart that can serve as decor.

Concealed Storage

Utilize your living room by considering an ottoman. An ottoman serves as a comfortable cushioned lounge bench and a concealed storage unit. Not only will this ottoman provide comfort for your enjoyment, but it can also store pillows, blankets, toys, remotes, and games until you need them. Ottoman beds are also an option to consider when thinking of ways to save space. An ottoman bed proved the perfect space for additional towels, linens, pillows, and other seasonal items.

Shed

If you have multiple holiday supplies or memory boxes that seem to not fit anywhere in your home, rather than throwing them in the backyard, purchase a shed to house and keep them safe. A shed can do wonders when it comes to storing your belongings. For the extra supplies that are crowding your closet, organize them neatly in the shed so that you can have more room for necessities in your house.

Display Your Pantry

If your cabinets are overfilling, free up some space by putting your spices and other dry ingredients in glass jars and place them on the countertop. This method is a simple and stylish way to add additional space to your cabinets while also adding decor to your kitchen. To avoid mixing up different ingredients, get a label maker to help identify each jar.

Hang Shelves

Make the most out of unused space by hanging shelves. You can use shelves to create more space for essential belongings. Hanging a few in the kitchen can serve as a place for a few of those glass jars to sit, perhaps with the ingredients that you barely use. Shelves in the bathroom can provide extra space to nicely store air freshener, extra toilet paper towels, and more. Living room shelves would also be beneficial for picture frames, books, movies, and small antiques.

Get Started

Enjoy every corner of your home by utilizing your space to your benefit. Whether you decide to add in those extra shelves, or purchase a shed, get creative. There are plenty of small organization projects that will not require strenuous work. Love where you live despite the size of your home and turn it into a comfortable place that better serves you.

 

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5 Best Tax Strategies for Real Estate Businesses

Most people believe that investing in real estate is a quick and easy way to improve cash flow. Although returns from real estate are a definite possibility, you need to understand the basic tax strategies for real estate agents if you want to avoid unnecessary taxes.

Did you know that deductions are still one of the best tax benefits in the real estate business? These tax write-offs are applicable for rental properties as well. The costs incurred by property tax, business operating expenses, depreciation, and repairs are eligible for tax write-offs. While it makes sense to read the tips provided by the IRS, wTax Strategies for Real Estate Agentsat you need is tips from tax experts.

Here are five tax tips for real estate businesspersons:

Being Well Organized

The key to getting back the tax money rightfully yours this season is to be organized. Suppose your business is booming and you’re making a lot of profits, the IRS will want to inspect your books; and ask for all receipts and other documents related to your business.

Buying, selling, or refinancing any property last year calls for the escrow company to send you a HUD1 settlement statement. This statement is the final closing one itemizing all charges levied on the seller and borrower. This document has to be included in this year’s tax documents.

Hold Properties for One year or More

Although your business instinct dictates that you should sell when you can make a profit, one of the best tax strategies for real estate agents is to hold the property for a year or more. With investment profit considered capital gains by the IRS, taxing is purely based on the income accrued and how long you own the property.

If you sell before the 12 months, you are liable to pay income tax at 35%. Whereas, when you hold it for more than a year, you pay only capital gains tax at around 15%. Hence, you save a substantial amount in tax by keeping the property for more than a year.

Understand Business Taxes

Suppose you get a lucky break, and there’s a string of property transactions. The IRS’s lens focuses on you, and it won’t consider that as an investment strategy. The IRS will more likely consider it business transactions.

When more than half your earnings are from real estate, they are not taxable under ‘capital gains’ but a regular source of income. Such a classification automatically puts you in a higher tax bracket. And to make things worse, you should pay an additional 15.3% as you are self-employed.

Use Depreciation to your Benefit

Depreciation expense on residential property is deductible as per IRS guidelines under the accelerated cost recovery system. Hence, whatever money you spend on property improvements or renovations, including roof replacement and finishing the basement, can be deducted. The formula for computing it is simple: divide the cost by 27.5 years, and deduct the result from your taxable income for the year.

Before you use any of these tax-saving tips, you need to differentiate between your short and long-term investments. Any property held for less than a year is considered short-term, and the rest are classified long-term.

Hire a Team of Professionals

While following the above tips can be beneficial, the best advice is probably hiring a team of professionals, letting you focus on your core competencies. CPAs know how to help you get back the money you deserve from the IRS. Come tax time. It is better to leave it to trained professionals who have enough knowledge and experience in the tax domain. The fees you pay your tax consultant are negligible when compared to your savings on taxes.

Summing it Up

Despite all the tips you get on saving on taxes, it makes better sense to hire a professional to handle the IRS on your behalf. The trick lies in avoiding tax and not in evading it.