Author: Joe Olujic

Categories
blogging health

Swipe Right for Health: Unlocking the Benefits of Healthcare Credit Card Processing

Streamline Payment Acceptance With Healthcare Credit Card Processing

So you run a healthcare practice and want to know the real deal about accepting credit cards, huh? Well, take it from us, going the healthcare credit card processing route is one of the smartest moves you can make for your business. Not only will it make life way easier for your patients and staff, but it’ll boost your bottom line in a big way. Think about it – when was the last time you paid for anything in cash? Credit cards are how we pay for just about everything these days. If you’re not accepting them, you’re basically telling a huge chunk of patients to take their business elsewhere. But with a good credit card processor, you can start swiping in no time and reap all the rewards. Keep reading to find out how credit card processing can be a total game changer for your healthcare practice.

Improve Cash Flow With Faster Reimbursements

Transitioning to credit card payments for your healthcare practice is a no-brainer. It makes things easier for both you and your patients. 

First, credit cards mean faster payments. No more waiting for checks to clear or chasing patients for overdue bills. Funds are deposited directly into your account, often within 2 business days. 

Credit card processing also reduces paperwork and administrative hassles. Say goodbye to processing payments manually. Automated tools handle it all – from sending billing statements to reconciling payments with insurance claims. 

What’s more, patients appreciate the convenience of paying by card. According to studies, patients are 70% more likely to pay a medical bill immediately if they can charge it. Offering flexible payment options leads to a better patient experience and fewer missed or late payments.  

To get started, you’ll need a merchant account and payment gateway. Look for a processor that specializes in healthcare and offers competitive rates. They can also help ensure you comply with healthcare card processing regulations like HIPAA.

While the initial set-up requires an investment of time and money, the long-term benefits of accepting credit cards for your medical practice are well worth it. Streamlined billing, faster payments, reduced paperwork, and improved patient satisfaction – what’s not to like? Make the switch today and start swiping for a healthier bottom line.

Enhance Patient Satisfaction With Flexible Payment Options

Going digital with credit card payments for your healthcare practice provides huge benefits. It improves your cash flow by speeding up reimbursements from insurance companies and patients. 

No more waiting weeks or even months to get paid. With credit card processing, funds are deposited in your account within 2-3 business days. This gives you quicker access to revenue to pay overhead costs and staff.

Credit card payments also reduce headaches from chasing patients for unpaid bills or rejected insurance claims. Patients can pay copays and balances due at the time of service. For insurance, you get paid upfront by the processor and they handle claim submissions and settlements on your behalf. 

Another perk is streamlined accounting. Statements, payments, and billing are all handled digitally, eliminating piles of paperwork. This simplifies bookkeeping and provides an accurate, up-to-date financial picture.

Accepting credit cards for healthcare payments is a win-win. For practices, it improves financial health and stability. For patients, it offers convenience and payment plans. The future of healthcare is digital, so make the switch to credit card processing. Your bottom line will thank you.

Categories
advice leadership

Leading By Example: Setting A Positive Tone As A Leader

As a leader, it’s your job to inspire and mentor those around you. As daunting as that may be, there are simple ways to ensure you project the right attitude and energy. Setting a positive tone starts with leading by example. When employees have witnessed your commitment to putting their best interests first or taking initiative in solving company problems, they will naturally imitate these behaviors, allowing for higher productivity and cohesion within a team. Aileen P. Charland discusses the importance of setting strong examples as a leader and provides actionable insight about what this looks like day-to-day. Empowering managers can result in more motivated employees while creating a better work environment.

Defining Leadership And The Qualities Of A Good Leader

Leadership is a concept that can be hard to define, but it is vital to achieving success in any organization or group. Good leaders possess certain qualities that enable them to lead and inspire others to follow their vision confidently. One of the most important qualities of a good leader is the ability to communicate clearly and effectively. This involves articulating their vision and actively listening to feedback from their team members. A good leader is also empathetic and able to understand the needs and concerns of those they lead. They must be decisive yet open to new ideas and willing to take risks when necessary. By embodying these qualities, a good leader can motivate their team to achieve great things and fulfill their shared goals.

The Power Of Setting An Example

We all have heard the phrase, “practice what you preach.” It’s easy to talk the talk, but it’s a whole different story to walk the walk. This is where setting an example comes into play. When we set an example, we not only inspire and influence others, but we also hold ourselves accountable to our own words and actions. One simple action or decision can have a domino effect, inspiring others to follow the same path. Setting an example can positively change our lives and those around us.

Tips For Taking Action And Demonstrating Integrity

Integrity is an attribute that is highly valued in today’s society. However, demonstrating it can be easier said than done. Taking action to show that you possess this quality can be challenging, especially when you feel you’re against the grain. Here are a few tips to help make this process easier. Firstly, ensure you understand what integrity means to you as an individual. Secondly, identify what you’re willing to do to demonstrate it. Finally, don’t be afraid to speak up if something feels wrong. By following these simple steps, you’ll be on your way to showing the world your true character. Remember, true integrity is only demonstrated when it is tested.

Strategies For Creating A Positive Environment Through Communication

Effective communication is key to creating a positive and constructive environment at work, home, or any other setting. Open and honest dialogue, active listening, and clear and concise messaging are some of the most vital strategies that can help you foster positive relationships with those around you. Focusing on these strategies can reduce misunderstandings, establish mutual understanding, and build trust and respect with others. A supportive and resourceful environment can promote positive communication, create a culture of appreciation, and build strong relationships to help you achieve your goals.

Understanding & Overcoming Obstacles When Leading By Example

Leading by example is a way to inspire others. However, even the most inspiring leaders can face obstacles along the way. Understanding these obstacles is the first step to overcoming them. One of the biggest challenges is the possibility of misunderstanding. Sometimes, despite our best efforts, people may perceive our actions differently than we intended. It’s important to communicate your goals and intentions to avoid misunderstandings. Another obstacle is the fear of failure. Overcoming this fear requires a shift in mindset. It’s important to view failure as an opportunity to learn and improve. You can overcome obstacles with determination and hard work and lead by example.

Encouraging Others To Follow Suit With Empowerment & Support

Encouraging others to embrace empowerment and support can be daunting, but it’s worth taking. Empowering others is immense and can lead to an accumulation of confident and motivated individuals. By providing a supportive environment and empowering those around us, we create a space for growth and development. It’s important to remember that every gesture of support, no matter how small, makes a difference, and it’s our responsibility to pay it forward. We must encourage others to follow suit with empowerment and support as well.

Final Thoughts

Leadership is an art form that manifests from a desire to create a more positive future. A strong leader will always find ways to empower their followers and demonstrate the powerful drive of example-setting. Equipping oneself with the right knowledge and tools can help make the journey easier and more effective for creating change. When faced with obstacles, this should not be seen as a setback but an opportunity to become even more resilient to break through boundaries and continue working towards strengthening community initiatives

Categories
business business strategy small business

Is SEO Really Important for a Company’s Success

So you’ve launched your new business and built a website to promote your products or services. Now you’re wondering if you really need to invest time and resources into search engine optimization. After all, you already have a site, isn’t that enough? In short, no. Simply having a website is not enough in today’s competitive digital landscape. You need an Advertising Hub in Rochester, New York If you want potential customers to actually find your site and convert into paying clients, you need an effective SEO strategy.

SEO helps your business rank higher in search engine results like Google, allowing more people to discover and visit your website.  Without it, your site could be buried under pages and pages of other results, rarely seen by anyone. While SEO does require an investment of time and sometimes money, the potential rewards to your business can be huge. The truth is, in today’s tech-driven world, a business without a strong SEO plan risks getting left behind.

SEO Increases Brand Awareness and Establishes Authority

SEO is crucial for any company that wants to increase visibility and generate new leads. If people can’t find your website, how will they even know you exist? 

SEO helps your company rank higher in search engine results pages (SERPs) like Google. The higher your rank, the more people will click through to your site. This inbound traffic is valuable for:

  • Building brand awareness. The more people see your company name and content in search results, the more familiar and trusted your brand becomes. 
  • Generating leads. When people visit your website from search engines, some will fill out contact forms or call you with questions. These interactions can turn into new customers.
  • Improving conversion rates. Traffic from search engines has a higher chance of converting into customers compared to other sources. People searching for your products or services are already interested in what you offer. 

To improve your SEO, focus on: 

1. Creating high-quality content. Publish long-form blog posts, resources, and other content that answers questions your target customers have. 

2. Optimizing page titles and meta descriptions. These snippets of text appear in search results, so make them compelling and keyword-rich. 

3. Earning high-quality backlinks. Get other authoritative websites to link to your content. Links from trusted sites pass on ranking power to your own website.

4. Optimizing page load speed. Fast websites rank higher and keep visitors engaged. Minimize page size, enable compression, and optimize images. 

5. Monitoring rankings and making changes. Track how your site ranks for important keywords and make improvements to content and technical SEO to boost rankings over time. 

SEO may require an initial investment, but the long-term benefits to your company’s visibility and lead generation make it worth the effort. When done right, SEO can transform your digital marketing and open up new opportunities for business growth.

Investing in SEO Delivers a High ROI for Businesses in Rochester, New York

SEO helps get your business noticed online. When people search for products or services like yours, SEO helps rank your website higher in the results, increasing the chances of them clicking through to your site. 

Increased Web Traffic

The higher your ranking, the more visitors you’ll get. People rarely look past the first page of results, so ranking on page 1, especially in the top 3 spots, can drive a ton of new traffic to your site.

Builds Trust and Authority

Good SEO establishes your company as a trusted leader in your industry.  When you rank well for important search terms, it signals to searchers that your site is a authority on the topic. This builds credibility and trust in your brand.

More Business Opportunities

With more web traffic and authority comes more business. Visitors might sign up for your email list, request a quote, or buy your products and services. SEO is key to growing your customer base and revenue. 

Future-Proofing

Google frequently updates their algorithm, but the basics of good SEO remain the same.  By optimizing your site today, you’ll be well positioned as algorithms and search behaviors change.  Your high rankings and authority will be harder to displace.

Conclusion

In summary, SEO should be an important component of any company’s marketing strategy.  By optimizing your website and content, you can increase web traffic, build authority, gain more customers and future-proof your success. The benefits of good SEO are ongoing and long-lasting.

Categories
blogging business business strategy

How to Fix Your Credit Score and Obtain Hard Money Loans in Denver

So your credit score has taken a hit recently and you’re worried about your ability to get approved for a mortgage or business loan. Don’t panic just yet. There are concrete steps you can take to boost your score and open up more lending options. Within a few months of diligent work, you can increase your score significantly and put yourself in a position to obtain financing, even if you’ve been turned down by traditional banks. Hard money lenders in Denver, CO specialize in providing short-term loans to borrowers with less than perfect credit, but you’ll still want the highest score possible to get the best rates. Follow these proven methods for fixing your credit and you’ll be signing loan documents before you know it. The road to financial recovery starts here.

Tips for Improving Your Credit Score to Qualify for Hard Money Lenders in Denver

Your credit score is one of the most important factors that determines whether or not you’ll qualify for a hard money loan in Denver. The higher your score, the better your chances and terms will be. 

First, check your credit report and score to understand where you stand. Look for any errors that could be dragging your score down and dispute them. Pay off high-interest debts like credit cards to lower your credit utilization ratio. The less you owe compared to your limits, the better. 

If needed, you can take out a small installment loan and pay it back on time to build your credit history. You can also become an authorized user on someone else’s credit card account, like a family member with good credit. Their responsible use will reflect well on you.

Don’t apply for too many new credit accounts quickly, as this can hurt your score. New credit inquiries make up 10% of your score, so only apply for new financing when needed. 

Once you’ve checked your reports, paid down balances, and taken steps to build credit, check your score again. If it’s above 620, you’ve got a good chance at qualifying for a hard money loan. Scores of 650 and up will get you the best rates and terms.

Keep working at it and be patient. Building good credit is a marathon, not a sprint. But the effort will pay off when you’re approved for that hard money loan in Denver and on your way to an exciting new investment!

How to Qualify for Hard Money Loans

To qualify for hard money loans in Denver, you need to take action to boost your credit score. Here are some tips: 

Check your credit report for errors. Dispute them with the credit bureaus to get them corrected, which can raise your score. 

Pay down your credit card balances. Keep balances low relative to your limits, ideally 30% or less. High balances hurt your score the most. 

Do not close unused credit card accounts. Close only accounts you do not trust yourself with. Closing accounts shortens your credit history and lowers your score. 

Pay all bills on time. Payment history is the biggest factor in your score. Set up autopay or reminders to avoid missed payments. Late or missed payments severely damage your score.

If needed, you can take out a small installment loan and pay it back on time to build a good payment history. But only borrow what you can afford to pay back. 

You may want to check with credit counseling agencies for guidance on managing debt and improving your financial habits. They can help you create a customized plan to rebuild your score in a responsible way.

Conclusion

With time and consistent good financial behaviors, you can improve your score significantly. Most hard money lenders want to see scores of 600 or higher. Keep at it, check your progress regularly, and don’t get discouraged. With discipline, you can qualify for a hard money loan in 6-12 months or less. Stay determined!

Categories
ian leaf

6 Money Tips for Your At-Home Business

Money is essential in every business, whether at home or not. To be successful in your at-home business, you need to be smart with your finances. This means keeping track of your expenses and income and ensuring that your budget is in order.

If you’re looking to start an at-home business, or if you’ve already started one, below are some of the most crucial money tips expert Ian Leaf can share to help you manage your finances like a pro:

1. Make A Budget And Stick To It

Having a plan for your money and sticking to it is crucial. When you have a budget, you know exactly how much money you have to work with each month and what you can afford to spend. This can help you avoid overspending and debt.

It would be best if you stayed disciplined with your spending. When you’re running your own business, letting your expenses get out of control is easy. But if you’re smart about spending your money, you can keep your business afloat while maintaining a healthy personal budget.

2. Keep Track Of Your Expenses

It’s just as important to keep track of your expenses as it is to keep track of your income. This will help you stay on top of where your money is going and identify areas where you can save.

It’s essential to have a good understanding of how much money you’re making and how much money you’re spending. This way, you can identify areas where you may be overspending and make necessary adjustments.

3. Invest In Yourself

Reinvest in yourself by taking courses or attending seminars that help you grow your business. This can be a great way to improve your skills and make more money.

Read books on topics that interest you and take care of your mental and physical health. You can also join positive and inspiring communities that can help your journey as an at-home entrepreneur.

4. Be Mindful Of Taxes

As an at-home business owner, it’s essential to be mindful of taxes. You may need to file quarterly tax returns or set up a separate bank account specifically for business transactions to stay organized and avoid penalties from the IRS.

Make sure you keep track of all your income and expenses and consult a tax professional if you have any questions. You may be able to deduct some of your business expenses from your taxes, so it is vital to keep track of those. Be sure to stay up-to-date on tax laws and regulations to make sure you are taking advantage of all the tax breaks available to you.

5. Have A Rainy Day Fund

It’s always a good idea to have a rainy day fund in case of unexpected expenses or slow months. This will help ensure that you don’t go into debt if things get tough financially.

6. Make Sure To Charge Enough

Another bonus money tip is to ensure you’re charging enough for your products or services. It’s tempting to price your items too low to attract more customers, but this can be counterproductive in the long run.

By pricing your products too cheaply, you may be undercutting yourself and driving potential customers away. Instead, find a price point that allows you to profit while still being competitive in the market.

Managing your finances can be tricky, but following these tips helps make things easier. By staying on top of your money, you’ll be able to run your at-home business more smoothly and efficiently.

Final Thoughts

These are just a few of Ian Leaf’s money tips for at-home businesses. Follow these tips, and you’ll be on your way to a successful at-home business!

Categories
advice

Six Financial Strategies to Keep Your Small Business Afloat

Running a small business is no easy task. You have to be an expert in many different areas, from accounting to marketing. This blog post will talk about six financial strategies that can help you keep your business afloat. Some of the topics we will discuss are how to finance your business, manage cash flow, and when it might make sense to get a loan or partner with someone else who has more resources than you do.

1. Create a budget for your business to know where your money is going.

It is important to know where your money is going, and Damon Becnel says a budget will help you do that. Create a list of all the expenses for your business each month, then add them up at the end to figure out how much it costs you in total per month. If there are certain areas where you think it might be wise to cut back on spending (such as advertising), this will also show you what those changes would look like so you can get an idea if they make sense or not before making any big decisions.

A good way to keep track of all these finances without being overwhelmed by numbers is with software such as QuickBooks Online from Intuit®. This tool automatically updates inventory levels when products sell and tracks expenses, so you always know exactly where your money is going.

Then, at the end of each month, analyze how much it cost to run your business and what you need to break even (or make a profit). This would give you an idea of what things might look like long-term if changes weren’t made. For example, if it costs $1000 per month just to get by with all expenses included but only brings in $2000 worth of revenue after all other costs, then eventually that isn’t sustainable. Something has got to give, or else the company won’t be able to keep up this pace for very long without running into problems down the line.

2. Build up an emergency fund in case anything goes wrong with the business.

It’s important to protect yourself in case something goes wrong with the business. Putting aside an emergency fund of at least three months’ worth of expenses is a good idea, but six or even nine months can be better when it comes down to it (especially if you aren’t bringing in that much revenue yet).

Not only does this give your company some breathing room in case anything unexpected happens and makes running things difficult for a while, but it also gives you more time to figure out what steps need to happen next, so money isn’t lost. That way, rather than scrambling under pressure because there is too little cash on hand, you will have already put away money beforehand, which could help keep your business afloat during hard times.

Another great way to protect yourself is through business insurance. You never know what could happen, so it’s best not to risk losing your company over something out of the blue that you are responsible for. This also includes health insurance if employees are hired, or someone starts working on a freelance basis for you – as this can be one of the biggest expenses when running things by yourself, which must be taken into account at all times!

A solid plan will help keep your small business afloat during tough financial conditions and ensure everything stays steady even in hard times. Just remember these important tips next time you want to start up an online store or any other kind of new venture!

3. Invest in stocks or bonds that are related to your company’s industry 

Investing in stocks or bonds related to your company’s industry can help bring more income into the business. This isn’t a requirement by any means, but something to think about when deciding where you want your money to go next. You never know what might happen over time, and it’s always better not to take risks – so this way, at least there is one less thing for you to worry about because these funds will be paying out on their own without needing much attention day-to-day while running things!

This type of investment also gives you an idea of how well certain companies are doing outside of yours, which could affect up down the line if they were ever bought out or acquired by another competitor.

4. Start saving early by investing in retirement funds, such as 401(k)s and IRAs 

Saving for retirement early on is important because you never know what might happen, and the last thing you want to be stuck with at a later date is nothing. Not only will this help protect your company overall, but also keep things running, so it’s easier than ever before!

If possible, try investing in these accounts, even if there isn’t much money being put into it right now. This way, when time goes by, you can add more funds without having to worry about putting them aside month after month or setting up automatic payments, which would take away from other business expenses instead (and could potentially put things outside your control).

5. Pay off debt by paying more than the minimum payment on credit cards and loans 

Paying off debt is important to keep your small business afloat, especially if you are paying interest on any of the bills being taken care of. This isn’t a requirement every month either – just something that should be considered when looking at where money could go next, so there aren’t unnecessary payments taking away from other things happening behind the scenes!

Not only will this help improve your credit score overall because it shows lenders that you can budget properly and pay debts back in full by their due date. It also helps protect your company’s wallet, which makes everything run more smoothly than ever before!

6. Negotiate prices when you can’t afford something new

Can’t afford something new right now? Try negotiating prices with the people selling it to you instead. This can help save money in many ways by simply speaking up and asking for a better deal, so everything stays afloat during tough times!

Not only does this show confidence when speaking with someone, but it also helps prevent spending too much on one item, which means more cash left over for other things that may be needed down the line. This includes unexpected repairs or renovations if your store happens to need them later on etc.

These are just some of the strategies that can help you keep your small business afloat. Remember, don’t be afraid to try something new and always learn from mistakes. We hope these tips were helpful for you!

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travel

How to Travel to Other Countries to Help Out Even When You Don’t Have a Lot of Money

Marc Zboch

Traveling often comes with a price. When we travel for leisure, we obviously need a budget to make things work, such as money for transportation, food, lodging, and recreation. However, there’s another form of traveling that doesn’t cost a lot while still allowing you to create a positive impact on the world.

Philanthropist Marc Zboch explains that this strategy is possible through travel. If you are someone who is passionate about making a difference, learning about other people’s cultures, and have a limited budget, this may be a great idea.

In this post, Marc Zboch explains some ways how you can pursue traveling for free and helping others through some ingenious ideas.

How to Travel to Other Countries to Help Out Even When You Don’t Have a Lot of Money

Look for organizations offering volunteer opportunities

Many non-profit organizations are offering volunteer opportunities to people while sponsoring their trips to a specific country. CNN has a great list of ideas featuring some organizations that open applications on such opportunities.

A well-known example is the Peace Corps, where volunteers will get to participate in programs that improve nations through healthcare, education, agriculture, and other industries.

Not only will you receive free accommodation and travel, but you will also get to have a brand new perspective on living and being part of a new community.

Teaching a skill to students on other countries

Helping others does not always have to be through volunteer work. One can also earn an income, travel, and help others through a job.

You can teach a skill such as English as a Second Language (ESL) or being a lecturer on a subject in a foreign school or university. There are many programs that will provide you with the certification, travel, and other accomodations to make this possible.

This does not have to be a permanent position, as some companies have yearly contracts. Such time will be enough for you to explore another country and help others through your knowledge and expertise.

Crowdfunding your volunteer trip

If you desire to make a specific change in a country close to your heart and have networks to start projects, you can find ways to fund your own volunteer trip.

There are many ways to do this, such as through online donations or crowdfunding. You can reach out to friends, family, and other social networks as you launch your project. It’s a wonderful way to let others know about your cause.

When funding your volunteer trip, make sure to create a detailed plan so that potential donors and sponsors will be more convinced that your idea will create a positive impact to your country destination.

Work in exchange for travel

This idea is quite different from international contract work, as this involves a company sponsoring your travel and accomodations as you work with them pro bono.

A lot of organic farms, research companies, and other industries that need specific knowledge and skill sets in other countries could use some help and are willing to sponsor professionals for a certain period of time. You can use this time to gain experience and explore another country while helping out.

Free, Impactful, and Fun: Traveling To Make A Difference

These ideas shared by Marc Zboch are some of the best ways to travel for free while practicing volunteerism. Hopefully, these will provide inspiration on how you can get started with your traveling plans.

Categories
finance

Here’s What You Can Do To Fix Your Bad Credit

Associates Home Loan

Having bad credit will seriously limit one’s financial experience. The bad the credit rating, the bad the experience. Bad credit is commonly described as any credit score below 650, but this may vary based on credit use. Bad credit will result in higher interest rates, reduced funds offered on loans, rejection of credit cards, and a more challenging time making daily payments like purchasing a vehicle, obtaining a mortgage, or other similar tasks. It can also result in job rejection for positions that review credit history.

Repairing your credit can be more complicated than starting again. You’re attempting to demonstrate to credit card companies and lenders that you will make future payments as negotiated despite mistakes on your side or disasters outside your control.

Fortunately, repairing bad credit is highly possible. Here are four practical tips for repairing your bad credit.

Check Your Credit Rating
Check your credit report to get a better view of your credit image and what creditors can view. It will provide you with a rundown of the risk factors affecting your rating, allowing you to make adjustments to increase your rating.

If you discover incorrect facts, you should file a dispute with the credit rating firm whose report you discovered it. You can also notify the creditor who is reporting the incorrect details personally to request that their records be corrected.

Pay on Time
Your payment history is the biggest risk factor impacting your credit rating. Missed and late payments will reduce your credit rating, and collections and bankruptcies will cause severe damage. Late payments remain on your credit rating for up to 10 years.

Your credit report also considers the magnitude of your loan as well as the timing of your late payments. Generally, the greater your debt and the more recent your late payments, the lower your credit score. Keeping accounts current and attempting to make on-time payments would undoubtedly positively affect your credit ratings.

If any of your bills have already been sent to collections, prioritize those on which your account is still active. Collectors can produce far more noise, but they are not your primary concern.

Keep Majority of Your Credit Card Limit Available
The credit utilization ratio is the comparison between what you owe and how much credit you can access. Simply put, it’s the amount of all your outstanding debt divided by the maximum credit available to you multiply by 100 to get a figure.

High credit utilization will significantly impact your credit rating. In general, keeping your credit utilization level under 30% is a smart idea. Here is how you can reduce your credit utilization rate.
• Consolidate your debts with a personal loan from Associates Home Loan
• Open a new credit card account or seek a credit limit raise on a current card to increase the total available credit
• Begin settling down account balances

Apply For a Credit Rebuilder Loan
A credit builder loan from Associates Home Loan will enable you to improve your credit rating. You would be required to provide proof of income and demonstrate the capacity to pay. The lender keeps the funds as you repay and delivers them to you after you have completely repaid the loan.

If you have money saved up, you can borrow against it with a certificate- or share-backed loan. This is a secured loan backed by funds in your savings, stock market, or CD portfolio. The bank holds the money until you pay it back.

Credit misfortunes and mistakes eventually melt away. The effect on your credit rating and the time it takes to repair is determined by the magnitude of the error and how recent it is. Use the above tips to fix your bad credit to have a better financial experience.

Categories
finance

Is a Personal Injury Settlement Considered Income?

personal injury attorney

When you are injured at work or on the property of another individual, you will usually be able to claim for a personal injury that often leads to a settlement. The first step to take is always to talk about your accident and how it came about with your injury attorney before you move onto the subject of whether you have a compensation claim. If you are working with a reputable attorney they will not tell you of any financial options before an offer has been made by the insurance company involved. One of the big questions you will have for your personal injury attorney is whether the compensation you claim will be classed as income and face taxation.

Your Settlement will not be Taxed

The first part of the answer to any question about personal injury compensation and taxation is that most settled cases are not subject to any form of taxation. There is no precedent in state or federal law that allows your compensation to be taxed at either of these levels, according to the IRS. The main part of this piece of evidence is that the majority of cases will not result in taxation being needed for your settlement. In most cases, any settlement made for a physical injury or sickness that occurs on the property of another individual will not require any taxation for your settlement.

Breach of Contract

One of the most difficult aspects of any personal injury attorney settlement is the use of breach of contract as the reason for the injury taking place. If you and your attorney have identified the problem leading to your injury as beginning with a problem with the contract you signed with an employer. The issue of breach of contract will often lead to a judge giving you a mixture of punitive and compensatory damages that will usually be split into percentages. An expert attorney will always ask a judge to decide how much of your settlement falls into each category with punitive damages classed as taxable by the IRS. Nolo reports your attorney should be able to work with the court to ensure the majority of your compensation is not taxable.

Interest on your Compensation

When you are working with your injury attorney, you will often hear them discuss backdating your compensation claim to the date of your accident and claiming the interest. Although you may look at this and think it is the best option for making sure you get the most compensation for your injury. However, at this point, you may find yourself struggling to cope with the issues of taxation because any interest incurred on your compensation claim will be taxed by your state and federal governments. If you are looking to keep your taxation issues to a minimum, you will usually want to limit your use of earned interest as part of any settlement you agree to.

This can be a difficult part of your compensation claim because you may want to wait to settle your claim until you have completed all your medical appointments and treatments. when you are hoping to make the most of your injury claim, you will usually want to wait until you can get the most compensation for your claim. If you are looking to make an impact on the way your compensation settlement is paid and it is as large as possible you will want to make sure you have an itemized tax deduction if you move into another tax year. By choosing to itemize the deductions you take when you are involved in a personal injury settlement you will make sure you have the impact of any interest minimized.

Emotional Distress Claims

If you are looking for a claim for personal injury, you should be aware of the changes that came about when the Trump administration came to power and made tax law changes in 2017. The change in the law made it clear the only form of personal injury settlement that would be taxation free would be those for physical sickness and injury. This meant the commonly used claim of emotional distress for those who had not been physically injured but felt the effects of an accident could no longer be made with taxation-free funds available.

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California

Jean Danhong Chen Discusses How California Lawyers Are Assisting Residents During The Pandemic

Jean Danjong Chen

After COVID-19 was declared a global pandemic, various states have developed mechanisms to combat it. Most of these adjustments have adversely affected the residents. In that case, California lawyers have come up with numerous mechanisms to assist the state occupants. The following are some of them, as discussed by Jean Danhong Chen, a well-regarded immigration lawyer in San Jose.

Helping Residents Collect Unemployment Benefits

Most Californians out of work due to COVID-19 should receive unemployment compensation. The funds can be assessed by the residents who lost their jobs because of reasons beyond their control. The payment is meant to provide Californians with temporary cash to survive as they seek new job opportunities.

Those who qualify for the compensation are mainly the residents who earned from $1300 in their highest-paid calendar quarter. In case your employer laid you off as a downsizing measure due to the current economic state, you are eligible for the funds.

Moreover, residents who were fired for reasons that cannot be classified as misconducts, such as not being fit for the team, qualify for the funds. The benefits are being applied online via emails or by phone.

Lawyers like Jean Danhong Chen help those residents who are eligible for the funds and have not yet assessed them in the application process. They are also offering guidance to those who are not sure whether they qualify for the funds.

Protecting Residents against Price Gouging

Some shrewd sellers may take advantage of the disastrous situation and unfairly sell products at inflated prices. The federal government has declared price gouging illegal. It further developed a law that instructed sellers not to increase consumer goods, food items, emergency, and medical supplies with more than ten percent of the previous cost. This also applies to those who offer transportation, emergency cleanups, storage, freight, reconstruction, and repair services.

The law can also be applied in transactions between retailers, distributors, manufactures, consumers, and wholesalers. The law should apply during an emergency period, such as the COVID-19 season. Lawyers based in California are working to ensure those who violate the law are prosecuted.

In case one is found guilty, they can be fined up to $10,000 or spend a maximum of one year in county jail. By doing so, they are ensuring California residents can access their daily products with ease during this challenging period.

Jean D. Chen on Immigrants’ Rights

Coronavirus pandemic has created more challenges for immigrants. Some of them are on the front line, assisting those affected by the pandemic. Others have lost their jobs due to massive layoffs being experienced in the current economic situation. This includes working in hospitality, building services, travel, food service, and the personal service sector. Jean Danhong Chen and his team of reputable immigrant lawyers are assisting immigrants in knowing their rights and staying safe during these unprecedented times.

They are helping those who have lost their jobs get compensated through immigrants’ funds set aside by the federal government. Moreover, they are advising them on mechanisms they can use to apply for economic stimulus payments. This kind of assistance helps immigrants residing in California push through the challenges they are experiencing attributed to COVID-19.

Employment Problems Related to COVID-19

One of the significant impacts of Coronavirus is an adverse effect on the economy. This has resulted in new safety requirement measures at the workplace and layoffs due to losses experienced. Lawyers are advising employers on how they can protect their workers and reputation amid the pandemic. This includes providing proper protective gear as well as compensations in case they lay off their employees.

On the other hand, the lawyers are also informing employees on their rights and helping them file cases if they are unlawfully fired. They are also advising them on the appropriate decisions to make if they are requested to sign COVID-19 wavers by their bosses. Moreover, they remind them that they still have a right to fair wages despite the presence of a global pandemic.

Jean D. Chen on CLA COVID—19 Aid

The CLA and other volunteers have compiled wealth resources to help Californians cope with the upheavals caused by COVID-19. For the same reasons, the team of lawyers has developed a portal with relevant information to help the residents navigate the Coronavirus crisis. As attorneys, they feel that they are trusted, community advisors. Subsequently, they have to help the society cope and successfully manage problems caused by the pandemic. The layers have contributed articles to give legal advice to typical problems Californians may be facing during this period. They have also established a YouTube channel that they post informative videos covering numerous issues.

COVID-19 has affected every Californian in one way or another. Most of these problems are unfamiliar to them since society has never encountered a similar pandemic. California lawyers have helped the residents by educating them, protecting their rights, and providing them with legal help whenever necessary.