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Great Books For Entrepreneurs To Read In 2022

While it can be hard to break away from the more traditional paths when it comes to starting a business, it’s also not as if you have to do it alone. Books are a great way to learn from seasoned professionals and get advice on how to run a successful business. If you’re looking for advice, or are unsure of what the next step in your latest business venture should be, check out one of these great books for entrepreneurs.

Entrepreneurial You: Monetize Your Expertise, Create Multiple Income Streams, and Thrive – Dorie Clark

In her book, “Entrepreneurial You,” Dorie Clark talks about the importance of developing multiple income streams in order to protect yourself from unpredictable changes. The pandemic highlighted the fact that life is unpredictable, and having multiple sources of income is also necessary to keep your business running smoothly. She also offers advice on how to build a brand and extend your reach online.

Traction: Get a Grip on Your Business – Gino Wickman

In his book, “Traction,” entrepreneur and author, Gino Wickman, provides a comprehensive overview of the various components of a successful business, including personnel conflict, profitability, and growth. He claims that his system, which was first published in this book in 2012, still works in 2021. Despite the various challenges that business owners and leaders face, he still advises them to get what they want from their company. He believes that many of them don’t take the necessary steps to manage their businesses properly.

Rework – Jason Fried

In his book, “Rework,” Jason Fried talks about the various kinds of people who are stuck in day jobs and are struggling with their current situation. He aims to help them get back on track and improve their productivity by providing a framework for doing so. Unlike other business books, this book doesn’t focus on creating a business plan or getting investors. Instead, it focuses on how to improve your company’s exposure and customer service.

Starting a Business QuickStart Guide – Ken Colwell

In his book, Ken Colwell talks about the importance of creating a business plan and provides practical advice for aspiring entrepreneurs. He also walks readers through the various steps necessary to start a business. The book additionally comes with a variety of tools such as a business tax cheat sheet and a checklist.

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The Best Podcasts For Leaders In 2022

As a leader, it’s your responsibility to constantly grow in order to benefit not only the organization or business that you lead but to also benefit your followers. The best leaders understand that it’s their duty to support the people below them and help them be the best possible versions of themselves. But being a leader is difficult, and sometimes we struggle to find the guidance we seek. In this case, a great tool that leaders can use to improve their skills is podcasts. There are dozens of leadership podcasts out there, each one offering guidance and advice, as well as entertaining stories from successful leaders in every industry imaginable. Here are a few of the best leadership podcasts worth your time in 2022.

Dare To Lead

Author and entrepreneur, Brene Brown, uses her book as the foundation for this podcast, which aims to help leaders improve their lives and businesses. She talks to prominent individuals from different backgrounds, and she has a unique perspective on topics such as personal leadership, culture, and innovation. Before you start listening to this podcast, sit down with a hot cup of coffee or tea and prepare your brain to be filled with great new information.

Lead To Win

Through real conversations, Michael Hyatt and his daughter, Megan Miller, are able to help you improve your leadership skills and make better decisions. This weekly program is designed to help you build strong relationships with your team and family. It’s also filled with lessons about goal setting, public speaking, and team culture.

The Radical Candor Podcast

Being an effective leader doesn’t have to involve losing your humanity. According to Kim Scott, she’s committed to helping you develop the skills and knowledge to be an effective leader. She also believes that being both compassionate and honest is very important in order to be effective. In the Radical Candor Podcast, Scott shares her top 10 tips for providing constructive criticism or praise to people as soon as they earn the right to do so. This advice can be applied to any situation, whether it’s leading a team or raising a family.

At The Table with Patrick Lencioni

Patrick Lencioni and his team are known for having real conversations with their listeners, where they’re able to provide actionable advice and insight on how to improve your leadership. This type of conversation doesn’t feel like a podcast, and it’s actually a conversation between a leader and his team.

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The Most Successful Entrepreneurs You Can Learn From Today

Aside from making important decisions for their businesses, entrepreneurs also develop new ideas. This is because they are constantly looking for new ways to improve their offerings and services. Starting a business from the ground up can be daunting, and requires hard work, good ideas, and perseverance. A great way to gain inspiration is to learn from some of the greatest entrepreneurs. Read on to learn more about some of the most successful entrepreneurs today and what you can learn from them.

Elon Musk

One of the most common mistakes that entrepreneurs make is assuming that they have to focus on one industry or field in order to become successful. Elon Musk argues that instead, they should explore other areas of interest.

One of the most important factors that set entrepreneurs apart from other businesses is their ability to carry over their skills in a single field. This allows them to create new products and services that are applicable to different industries.

Jeff Bezos

One of the most successful entrepreneurs in the US is Jeff Bezos, who founded Amazon. He believes that businesses have to improve their customer service in order to attract and retain the best possible customers. For the eighth straight year, Amazon has been named the best in customer service across the United States.

Despite the number of companies that ignore their unhappy customers, Amazon has been able to improve its customer service by learning from their experiences. This strategy shows that the company takes great care of its customers and is committed to improving its offerings.

Steve Jobs

Throughout his life, Steve Jobs walked a rocky path. He was able to rise to become one of the most successful individuals in the world due to his ability to put his faith in the temporality of life and the importance of working on the legacies people want to leave behind.

He never hid his principles from anyone. He dedicated himself to creating the best possible products that would become the standard for modern technology. After his brief battle with cancer, he concluded his remarkable life with another valuable lesson – no matter how much money you have, the one thing you can’t buy is more time.

Melanie Perkins

One of the most successful entrepreneurs in the world is Mel Perkins, who founded the online design platform Canva. She has been able to raise a total of $1 billion in funding and has over 10 million users globally.

Due to the cultural differences between Australia and the US, it was hard for Mel to raise funds for her company. However, three years later, she was able to overcome these obstacles and secure a series of fundraising rounds that valued her company at over $82 million.

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Smart Ways To Use Your Tax Return This Year

Getting a tax refund is a great time to start planning for the year, but you may also feel the drive to use your refund as a way of treating yourself.

While it’s understandable that you’ll want to buy yourself something nice with all of this extra money, it’s also important to remember that a tax refund is a long-term investment. Over the years, the average taxpayer has received a refund of around $3,000. To help you plan for the future, here are some simple tips on how to spend your tax refund.

Start Investing

One of the most important steps in building wealth is to invest your tax refund. Doing so will allow you to grow and put money into a variety of different financial instruments. For instance, if you receive a tax refund of around $3,000, investing it will allow you to earn an average annual return of 6%.

It’s also important to note that investing your tax refund in each of the next 10 years will allow you to build up a substantial amount of wealth. After 20 years, you’ll have more than $60,000 invested.

Wipe Out Some Debt

Getting carried away by high-interest debt can negatively affect your bottom line. It can also increase your monthly expenses and put a strain on your credit.

One of the best ways to get rid of high-interest debt is to pay off your credit card bill. Doing so can save you thousands of dollars a year in interest.

If the refund doesn’t cover all of your credit card debt, consider using a balance transfer credit card to pay off the remaining balance. If your credit is not good enough, consider a debt consolidation loan.

If you have high-interest debt, start planning on how to pay it off. If your tax situation is the same next year, adjust your current withholding to allow you to use the money to pay down debt.

Build An Emergency Fund

An emergency fund is a type of savings that can be used in the event of a job loss, medical emergency, or sudden financial setback. It should have a minimum of three to six months worth of expenses.

Getting a tax refund can also help you build an emergency fund. One of the best ways to use this money is by opening a high-yield savings account. Some of the online banks that offer this type of account include Capital One, Marcus, and Ally.

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How Entrepreneurship Has Evolved For Today’s World

Despite the various effects of the pandemic, the economy has not been completely destroyed. One of the positive signs is that a growing number of people are becoming more interested in entrepreneurship.

The number of new business registrations increased significantly in July 2020. This is because the pandemic has led to more people wanting to start new ventures, especially in the health and well-being industry.

Instead of starting companies due to the lack of traditional opportunities, many people are choosing to start their own businesses due to the current economic climate.

Here’s how entrepreneurship has changed and will continue to change in the coming years.

Adaptation Driven Business Owners

The pandemic has highlighted the need for entrepreneurs to be adaptable to change. They may be starting a new venture or running an established business, and they may need to adapt quickly to meet the demands of the market.

Many new businesses that are already established may find it difficult to adapt to the changes brought about by the new regulations. For instance, the outbreak of coronavirus variants may cause consumers to hold back on spending.

Despite the negative effects of the pandemic, many businesses that are not dependent on foot traffic will still be able to meet the demand. They can also adapt to the changes brought about by the new regulations by implementing new strategies and procedures.

More Technology Means More Accessibility

The rise of technology has allowed people to start and market their own businesses without having to go to a storefront or an office. This eliminates the need for traditional office space.

Through online platforms that offer various services, such as pet sitting and personal shopping, entrepreneurs can get started without having to spend a dime on marketing a separate business. These platforms can also help lower the entry barriers to self-employment.

While some people go all in and leave their employers, others pursue different interests. For some, working with animals is a passion, and becoming a freelance can allow them to pursue this goal and other income sources.

Social Responsibility Is Motivating Business

Climate change and socioeconomic issues are driving the creation of new ventures in the private sector. The nonprofit sector is also seeing the emergence of programs that help minorities.

A study by McKinsey predicts that by 2050, the demand for various products and services will decrease as a result of the transition to zero carbon emissions.

Examples of this include the development of products and solutions that help minimize air pollution. Some startups are even using AI to develop farming methods that are pesticide-free.

New Opportunity Arises

The rise of technology and the pandemic have made entrepreneurship more attractive. As a result, many people are choosing to start and run their own businesses instead of staying in traditional employment.

The way business models are being built is becoming more flexible as people take advantage of the technological innovations that have made it possible to operate in an instant.

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The Many Styles of Leadership

Leaders are often complex and it can require multiple lenses to understand their decisions. Having the right people in the right positions can help employees become more valuable to the organization. Let’s take a look at some of the most popular leading styles.

The Seer

 Good leaders know where they’re going and why they’re there. Their team members can then influence them by talking about the ultimate vision, which is the reason why many leaders reject good ideas.

The Steward

The best leaders see themselves as being responsible for their organization’s resources. They must use those resources to grow the company. A team member who wants to influence their leader will also understand how decisions will affect the company’s overall resources.

The Strategist

This leader’s face is always focused on the people. They think deeply about how to put people in the right positions to achieve the best results for the company. When team members talk about a decision, the leader must consider everyone involved.

Most leaders have a vision for the next generation of leaders within the organization. They know what they want to achieve and how they will help future leaders develop.

The Sage

The sage leader is knowledgeable about the systems and processes that will help team members function at the highest level. They also build effective strategies and know how to get the best results.

The best leaders are focused on making the most of the organization’s resources and improving the processes to ensure that everyone on the team performs better.

The Scientist

The scientist leader is curious about finding new ways to do old things. This characteristic makes leaders more willing to try new things. Team members can become valuable to them when they know why they’re doing certain things.

Like diamonds, leaders have many facets that help them take on their roles effectively. Next-level leaders will often have to learn how to engage with these facets.

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Understanding the New 1099 Rules

In 2020, the new IRS tax law will take effect and will affect the way businesses report their income on Form 1099-K. It will change the reporting rules for payment processors and third-party settlement organizations (PSOs). Most businesses that accept credit cards or online payments will have to report this information in the form. If you’re not already doing this, now is a good time to start.

Starting in 2022, the new 1099-K reporting threshold will reduce to $400. However, it will still apply to transactions between businesses and part-time sellers. The amount of income you’ll need to report is also lower than it was previously. That means that if you sell goods and services, you’ll need to submit a 1099-K. If you’re a small business owner, this new threshold is important to note.

Before the new rules for IRS Form, 1099-K were implemented, businesses had to file them on time if they received over $20k in gross payments or 200 transactions. This requirement has been reduced to $600. That means anyone who earns over that amount will be taxed on the transaction. This means that many businesses should expect to see a spike in the number of 1099-Ks they need to file for the year 2022.

1099 Rules for Business Owners in 2022

The IRS has made a change that will affect millions of small businesses in the coming years. A little change in the American Rescue Plan Act of 2021 (ARPA) will change the way 1099s are calculated. This bill, which was designed to help the US recover from the recent economic crisis, contains many provisions that will require small business owners to be extra organized. The new rule will go into effect on January 31, 2022.

The deadline for submitting Forms 1099 to the IRS has been extended to January 31. In addition, businesses must file 1096, formerly known as a Form 10, with the IRS. Depending on the type of business, a business may also be required to file a 1099-NEC with the state as well. The IRS will require businesses to file 1099-NECs electronically, while states will require businesses to file paper copies with their tax offices.

The proposed regulations call for businesses to reduce paper filing from 300 information returns per year to 100 information reports per year by 2022. This amount doesn’t include specific types of reports, such as Schedule C. The new rules also require businesses to e-file all forms by the end of 2022. Those who have a business that uses Venmo and PayPal will be required to file Form 1099-NECs with the IRS, regardless of how the payments are made.

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How to Nurture Future Entrepreneurs

What does it take to be a successful professional? According to a recent LinkedIn study, having a side hustle is one key ingredient. As the number of entrepreneurs continues to grow, it’s important to understand the challenges and opportunities they face. This article will discuss tips for nurturing future entrepreneurs based on insights from successful professionals.

1. Create a Network That Supports Your Dreams

According to the LinkedIn study, one of the main reasons professionals start side businesses is because they want to “take control of their careers.” They feel empowered when they own and run their own business. This is also true for existing entrepreneurs who hold full-time jobs. Many of them consider entrepreneurship as a lifestyle choice rather than a profession. According to young entrepreneurs, creating a network that supports their goals is the number one predictor of success. Young professionals who are not entrepreneurs seek out other future-focused people for advice and mentorship.

2. Be True to Yourself

The second main reason professionals start side businesses is to pursue their passions. You might be interested in a particular industry or market that is not well-suited to your full-time job. In these cases, pursuing your passion can quickly translate into financial success. Many young entrepreneurs suggest the following when determining the viability of a business idea:

• Does it make you happy?

• Can you pursue it full-time?

• Is there a market for this product or service?

You don’t need to start a business that matches your day job. As an entrepreneur, you can wear multiple hats and pursue different passions simultaneously. Just make sure you stay true to yourself and focus on what makes you happy.

3. Develop a Business Plan

A business plan is the most important predictor of success for young entrepreneurs. It can be an intimidating task, but it’s necessary to reduce the risk of failure. Many professionals start side businesses on nights and weekends without much planning or preparation. This approach might work for some people but usually fails to reach their desired goals. It’s also important to remember that your business plan is likely to change over time, so it doesn’t have to be perfect from the start.

4. Find a Mentor or Coach

According to entrepreneurs, many learned how to become successful from other people rather than books or online courses. This is especially true for first-time entrepreneurs who may not have the necessary knowledge or skills to start a business. Mentors and coaches can provide guidance, direction, and motivation to increase your chances of success. Never stop learning and adapting your business practices.

5. Find Ways to Hustle in Your Routine

According to young entrepreneurs, finding time to work on your side hustle without jeopardizing your existing job can be challenging. The key is integrating it into your daily life through different strategies such as:

• Packing a lunch instead of eating out

• Using a personal car instead of relying on expensive taxis and rideshares

• Using a home office during available hours

You can also create time to work on your business by making some sacrifices. For example, you may have to skip out on specific social engagements or networking events to get more work done. This will allow you to achieve tremendous success and reach your goals faster in the long run.

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A Beginner’s Guide to Mutual Funds

Mutual funds are types of investments that can be very useful for investors. If you’re already investing in things like the stock market and real estate, then you might be looking for something a bit different. There are many reasons why mutual funds might be the perfect next investment choice for you. Read this short beginner’s guide to mutual funds so that you can get the information that you need. 

There Are Usually Minimum Investment Requirements

Typically, mutual funds are going to have minimum investment requirements that you will need to meet. For instance, a mutual fund might have a $4,000 minimum investment, but some might have lower minimum requirements like $2,500. The amount that you will be required to invest at minimum to get started will differ depending on the mutual fund that you’re looking into. It’s always worth considering the terms of the mutual fund before moving forward. 

Mutual Funds Can Be Very Hands-Off

One great thing about mutual funds is that they can be very hands-off investments. You can set it up so that investments will be made automatically. This allows you to just sit back and watch your investment fund work to grow your wealth over time. If you’re looking for an easy type of investment that won’t take up a lot of your time, then mutual funds will be very appealing to you. 

There Are Different Types of Mutual Funds

The first thing that you should know is that there are different types of mutual funds out there that you can choose to invest in. Many of the most popular mutual funds are known as bond funds, and these funds are mostly invested in stocks. Bond funds are also widely utilized, and they are focused primarily on bond investments. Money market funds are also available as a low-risk investment in short-term securities. 

Mutual Funds Work Well with Your IRA

Of course, you need to consider the taxes on your earnings from the mutual fund investment. Knowing this, it’s good to consider using an IRA along with your mutual fund since you can enjoy certain tax advantages. If you wish to keep as much of your profits as possible, then it’s worth setting up an IRA before you go through with mutual fund investment. If you’re serious about investing, then you likely already have an IRA.

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IRS Sees Billions in Crypto Seizures

One of the major issues that have been plaguing cryptocurrency traders and holders is the ever-growing number of government seizures. From Japan to the United States, there have been many instances where law enforcement agencies have seized cryptocurrency holdings – whether it be from individuals or businesses. One agency in particular that has seen a significant amount of success in these endeavors is IRS agents who have made billions by seizing crypto assets. In this post, we will outline 5 potential reasons why IRS sees billions in crypto seizures.

Cracking Down on Illegal Transactions and Money Laundering

One of the main reasons why the IRS is cracking down on what it sees as illegal transactions and money laundering is because most cryptocurrencies were designed to bypass third-party influence, thus making them ideal for criminal activities such as tax evasion and money laundering. When we look at Bitcoin in particular – the most popular cryptocurrency today – it was created in 2008 in order to eliminate the need for any bank or government involvement during transactions.

Lack of Paper Trails

Another motivator behind IRS seizing cryptocurrencies is the absence of a paper trail. Unlike when dealing with fiat currencies (dollars, euros, pounds, etc.), there is no physical proof of your ownership of the cryptocurrency. This means that when you sell or trade your digital currency, there is no seller or buyer information to prove that the transaction actually happened. Essentially, this provides an opportunity for anyone to sell their coins without it being associated with them.

Lack of Transparency

There’s also a lack of transparency involved in Bitcoin transactions. Since Bitcoin was designed for anonymity, it’s virtually impossible to determine the identity of the sender and receiver just by looking at wallets. This makes it extremely tough to prove that cryptocurrency was received illegally or involved in criminal activity.

Fear of Losing Out

Another important aspect is that Bitcoin has become incredibly popular recently, which means there is more and more competition among traders and investors to sell their Bitcoins. This has led some people to avoid reporting their cryptocurrency activity, while others have even resorted to illegal measures in order to avoid losing out on huge profits.

Fear of Doing the Wrong Thing

Finally, another reason why IRS is seeing so much success with seizing cryptocurrencies is that most people don’t know whether they should report their cryptocurrency transactions to the IRS or not. This is one of the main reasons why we’ve seen a significant increase in tax evasion and money laundering recently.

The Future of Cryptocurrency

Even with all these obstacles, there’s no doubt that cryptocurrencies like Bitcoin and Ripple will continue to grow and even replace fiat currencies in the near future. Many European countries such as Sweden and Russia have started embracing digital currency payments, which shows that many governments are willing to explore new technologies like cryptocurrency.

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