Thursday, October 30, 2014

tsu -- Is it a scam?

Good afternoon readers! I know a lot of you guys have been asking me questions about this new social network that you have seen me advertise on Twitter and IBOToolbox. This post is just to put a few of your minds at ease. Among some of the questions I have gotten are

  • tsu looks like a scam! There is no way a social network can PAY you to post content! how do they get the revenue in the first place?
  • is tsu an mlm? A Ponzi scheme maybe? 
  • How does the payout work? 
  • How can I get rich on only 1 cent a day?!
  • Why should I even try this?! I'll stick to Facebook, thanks.
So first, I would like to address the scam question. From what I am able to tell, tsu is not a scam. From my own experience, any type of 'get-rich-quick-for-the-creator' schemes require the participants to make some sort of "start-up" cost or deposit before they are able to use the service. What I urge everyone to do is to research the actual legal definition of a Ponzi and Pyramid scheme. You can also refer to my previous blog post to see the short definitions if you want to learn just a little while reading.

To be completely honest, tsu does hook many of its members with what seems to be a promise of getting rich quickly (though it never says that in its marketing). Giving its prospects a fair comparison of Facebook not monetizing content, it makes people think about what exactly they may be able to earn. This interest increases exponentially when appealing to those people that have a large downline, a large network, or any other type of large following.  From tsu's website, it is fairly transparent on how it plans on growing its network.

Since tsu.co does not invite anyone to the platform itself, it instead allows users to utilize a short code invite system that tracks & distributes 100% of the social economics of the platform to its users. This unique architecture gives users an annuity for their content due to the way users tie themselves together through seamless invitations. As such, users are incentivized to grow the platform since the monetization overlays a network effect onto each tsÅ« user’s social network. The more relevant a user’s content and the larger their network, the proportionally greater the monetization is. 

What this basically means is that tsu will pay their users for their content based on the amount of people they invite to join the site and for whom those people also invite to the site. Like much of the other network marketing companies, your earnings are based on how hard you work at promoting yourself across your other social networks.

tsu also provides a great look at how to break down their algorithm to see how people are going to get paid on the website. In order to be able to withdraw funds, you do have to have at least $100 in your virtual "bank" before you are able to withdraw any of those funds. This is how tsu illustrates the way the break down of your revenue.


It's not too hard to understand when placed into picture form, though the way it was initially explained to me had me scratching my head. From what I have deduced so far, it has a similar revenue platform to YouTube. YouTube pays its users 50% of ad revenue, depending on the users popularity and content. How do you think the people in these videos that go viral get so rich? YouTube pays them!

ANYWHO! I personally do not think you have anything to lose from trying this. You do not have to enter any bank account information to join the website and as previously stated, it doesn't cost you a single thing but your time. tsu is in its infancy, only being released a few weeks ago, so I am sure there are many things that need to be improved.

There is also a fantastic app in the Play Store and App Store that you can download for your devices. It makes publishing your content easy and you can link right to your Facebook and Twitter so you do not lose any time having to flip between the two. There is also an option to share with Instagram, but currently that option does not work.

If you have any questions, please feel free to leave a comment and remember! Do your own research!



Thanks everyone for reading! As usual, leave a comment and +1 this to share with your friends, family, and downline! Have a great weekend!

shanice.patrella@yahoo.com
Skype: MsLuckyDuck
321.300.6297

Are you interested in sharing videos to your friends and earning extra income as you do it? Join UvioO and get started for FREE!

Want to become part of the next greatest social movement! Take a look at tsu, a new social platform that is paying its content creators back the revenue! Join TODAY!

Wednesday, October 29, 2014

Make Your Marketing Memorable

HEY GUYS GUESS WHAT DAY IT IS!?? 

If you are like me then you love this commercial! Let me ask you this, though. Do you know what company this ad was for? GEICO insurance. Truthfully, I did not know either until I did my research to look it up. Now, we all know that this commercial does not really have much to do with purchasing insurance, but it got you interested and running over to the television when the ad comes on.

One of the tricks to the success of large businesses is hooking the consumer with interesting bait. When you are able to bring in a target audience into your "marketing pool" you are much more likely to find prospects that are more interested in following your product (or your hilarious ads -- we all love the GEICO gecko) and responding in a positive way to your  business. Even if they decide not to purchase your products or join your business, they are much more likely to share with their friends -- of whom most will resemble your target audience -- and market FOR you!

There are many ways to make your marketing memorable, and this can all be dependent on your target audience demographics, what you are selling, and your ultimate goal in the business. If you are trying to increase your revenue, you may have a different tactic than someone who is trying to increase subscriptions to their blog/ebook/service. You will want to create a campaign that people will enjoy AND remember! As stated in a great article 5 Ways to Make Your Content Memorable
Once you realize that one of your most overlooked business problems is likely a memory problem (not an “interest” problem) and you recognize how poorly our minds remember abstract words and numbers, you’ll come to realize how vital it is that we focus on becoming more memorable in our content marketing.
As always, do your research and let your personality shine through. I know I like people that are authentic, rather than copying-pasting little blurbs into messages that are boring and trite.


Thanks everyone for reading! As usual, leave a comment and +1 this to share with your friends, family, and downline! Have a great day!

shanice.patrella@yahoo.com
Skype: MsLuckyDuck
321.300.6297

Are you interested in sharing videos to your friends and earning extra income as you do it? Join UvioO and get started for FREE!

Want to become part of the next greatest social movement! Take a look at tsu, a new social platform that is paying its content creators back the revenue! Join TODAY!


Tuesday, October 28, 2014

No Marketing, Online Money - Arise Virtual Solutions

Good morning beautiful people! Welcome again to another issue of No Marketing, Online Money! I am your lovely host (and quite lovely indeed!) and today I will be writing to you on Arise Virtual Solutions. There are many mixed reviews about Arise out there and I would like to give you my insight on what I have experienced. :)

What is Arise?


Arise Virtual Solutions is a call-center platform that uses crowdsourcing to service many of their Fortune 500 clients. Crowdsourcing is distributing tasks to a willing group of participants. In this case, distributing customer service, sales, and technical support positions to independent contractors for Fortune 500 companies that require extra service.

The thing that I love about Arise is the flexibility! You are able to set your own hours, as long as you meet the minimum requirement for the client which is usually between 10 - 15 hours per week with a few hours on a Saturday or Sunday. You are also able to choose from an array of clients whether you would like to work in telecommunications, theme park customer service, travel and hospitality sales, and more! Many of the positions are call taking positions, but on occasion there are also other positions including email and chat positions.

What are the technical requirements?

The minimum requirements are as follows:

Windows XP - Windows 7 (Windows 8 is not fully supported. Apple is not supported)
2GB RAM
80 GB IDE Hard Disk
Single Core CPU 1.4 GHz

High Speed Broadband Internet 1.5 MBPs+ Download | 250 kbps or higher upload

Internet Explorer 7 or 8, 32-bit (64-bit is supported with some clients, but not with others)
AntiVirus (Microsoft Security Essentials, McAfee Virus Scan, etc.)
AntiSpyware (Microsoft Anti-Spyware, etc)
Firewall (Windows Firewall will suffice)

POTS (plain old telephone system) with a major provider like BellSouth, Comcast, etc. Some clients allow you to use VOIP (voice over internet protocol) with digital providers like FIOS and uVerse, but it is not guaranteed.

What makes Arise so different?

Arise is very different from other work-at-home call center solutions because contact center facility details do not apply in Arise's business model. They use virtual business outsourcing to source from any location within the US, Canada, UK, and Ireland without any restrictions. With this, they are able to supply full-time equivalents for their many different programs.  Since it services its clients 24/7/265, including weekends and holidays.

Arise allows you to become your own Independent Business Owner and build  your own company of virtual client service professionals. This flexibility allows you to be your own boss, set your own schedule, an unlimited earning potential, and the ability to work from home!

What are some of the disadvantages?

There are a few disadvantages to working through, Arise depending on what you are looking for in a work-at-home position. Since it is the opportunity to become your own Independent Business owner, you would have to pay the fees of your state to incorporate a business which usually ranges between $200 - $400. If you decide you do not want to be your own business owner, you can be a Client Support Professional under an established IBO.

Regardless whether you become your own IBO or choose to be a CSP, you will need to pay for a background check and training. The background check is usually about $14, and can vary depending on state. The training you have to pay for is CSP 101 (to introduce you to Arise and make sure that you are willing to commit). This training varies tremendously. It can be as low as $5 and as high as $99, depending on the season and the need for CSPs.

Once you pass the course, you then have to go through a training period, depending on your client. The training can be as short a 3 weeks or as long as 8 weeks, most of which is unpaid. If you are not answering phone calls for the client, you are not getting paid.

Also, as an independent contractor, there are no benefits (like medical or 401k) or PTO.

There is also a $19 Arise fee that is taken out of each paycheck.

What are the advantages?

The things that I love about Arise have mostly to do with the flexibility. You can truly set your own hours. You choose your schedule in 30 minute increments and you have notice of what is available 2 weeks in advance! As long as you give notice, you are also able to shift these hours as long as you are meeting your minimum requirement.

I also love that all of the clients are inbound clients. Whether you are serving a telecommunications company or a travel company, the customers are contacting YOU! There is no cold calling and it can make for some great skill building!

You are also able to choose the client that you want to service and can even choose more than one if you wish. There are even opportunities to work higher up in the chain as a quality performance facilitator to oversee the performance of CSPs that are working for your client.

Arise is also on par with pay compared to most work-at-home companies. Depending on the client, the pay can be between $9 - $18 per hour! Many of the clients have moved over to a new standard where they will pay the CSP more if their performance is high and they are meeting and exceeding metric requiements!

Of course, as always, I urge you to do you r own homework! If you work for Arise, leave a comment with some of the things that you have experienced. I currently work for Arise and this is just some of my opinion. :) My IBO will be launching in January if anyone is interested.




Thanks everyone for reading! As usual, leave a comment and +1 this to share with your friends, family, and downline! Have a great weekend!

shanice.patrella@yahoo.com
Skype: MsLuckyDuck
321.300.6297

Are you interested in sharing videos to your friends and earning extra income as you do it? Join UvioO and get started for FREE!

Want to become part of the next greatest social movement! Take a look at tsu, a new social platform that is paying its content creators back the revenue! Join TODAY!

Saturday, October 25, 2014

Personalize Everything, YOU Are Your Business

Great morning friends! It is a beautiful and cool Saturday morning here in the Sunshine State. Today I did want to talk to you about the importance in putting yourself into your advertising. First, I would like to ask a very important question: Have you ever Googled your name? Personally, I have done it and I was extremely shocked to see how much information is out there on the internet about me (and those that have the same exact name as I do, haha). I have quite a big social media presence and that is clearly seen through the Google search. With just my name you can find my Facebook page, my Twitter pages, my YouTube channel, my IBOToolbox page, linkedIN, 4Square, and the list goes on and on!

If you don't believe me, try it! Go to google search and type in my name "Shanice Patrella". The first page is everything that I have linked to social media. You can even view the pictures that I have posted on there publicly. ;-D So there you have it. Now everyone connect with me, now that you have me pulled up in Google. GO!

Anyway, this point is important because in network marketing 90% of the people are going to be skeptical that you are who you say you are. Just like when you get an email with an offer that is "too good to be true" you want to check and see if the person/company is in good standing or even has any sort of internet presence. (Not all companies are on the internet, but it is 2014. If you don't have a relevant Facebook page you may just be irrelevant.) If you cannot find anything to be said on the internet, whether good or bad, you may dismiss the idea of the company as being legitimate.

If you operate with your own personal image, you are more likely to stand out as an individual. Fortunately, I have a fairly unique name. If you are one of the one-gajillion John Smith's you may have to work a little bit harder for your internet presence to stand out among the rest. That's all right! If you have the determination and you associate your name with our company, you will be able to find that spotlight and stand out among the rest!

If you are unsure where to start, start with Facebook. If you do not have a personal page, go ahead and create one! Connect with your friends and family and be sure to share your experiences with them. Once you get the hang of it, you can evolve your presence to encompass the rest like Twitter and LinkedIN. Sharing is caring -- Caring about how people view yourself as well as your business! You do not have to share your life's story, but a couple of opinions with your own unique viewpoints definitely does not hurt.

If you have any questions, comments, or concerns please leave a comment or contact me via any of the methods below. If you have added me in social media, drop me a private message so that I can follow/friend back. :)


Thanks everyone for reading! As usual, leave a comment and +1 this to share with your friends, family, and downline! Have a great weekend!

shanice.patrella@yahoo.com
Skype: MsLuckyDuck
321.300.6297

Are you interested in sharing videos to your friends and earning extra income as you do it? Join UvioO and get started for FREE!

Looking for more helpful tips and tricks for your small home-based business. Add my blog on Blogger: ConquerCash with Shanice.

Friday, October 24, 2014

1099 vs W2 - Home-Based Tax Deductions

TGIF everyone! It's almost the weekend and I would love to bring you some more tax tips for those of us that are running home-based businesses. If you are a newbie to this type of business, it is a good idea to add these different deductions to your tax return. It is most likely that your business is not profitable just yet, so these deductions that you are listing will just be going towards the amount that you would usually owe for taxes. You DO NOT have to file for your if you earned less than $400 in your business, but you will still want to file any other income that you earned in 2014.

Keep in mind, if you plan to list your deductions, you will want to fill out a 1099 form. You will then be placed into a different tax bracket: the Self Employed (SE) tax bracket. This tax bracket is similar to the Social Security and Medicare tax that is withheld for regular wage earners. The easiest way to explain this is actually directly taken from the irs.gov website:
Before you can determine if you are subject to self-employment tax and income tax, you must figure your net profit or net loss from your business. You do this by subtracting your business expenses from your business income. If your expenses are less than your income, the difference is net profit and becomes part of your income on page 1 of Form 1040. If your expenses are more than your income, the difference is a net loss. You usually can deduct your loss from gross income on page 1 of Form 1040. But in some situations your loss is limited. See Pub. 334, Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ) for more information.
It can get a little wordy, but I will post more of exactly what that means in a later edition. In this post we are only going to focus on what expenses can be deducted.

The things that you will most want to focus on are the costs of operating your business. The costs of operating your business (as defined by the IRS) are the ordinary and necessary to operations.

  1. Car and Truck Expenses: You may be able to deduct the costs of operating or maintaining your vehicle, using standard mileage or actual operating expenses. With the standard mileage method, the IRS will pay 56.5 centers per mile. If you decide to use actual operating expenses you would just add the costs of maintaining your vehicle: oil changes, gas receipts, tires, tolls, and even insurance payments!
  2. Employees Pay/Consultant Pay: If you have paid for any type of services to get your business up and running, this is also deductible. Whether you had someone create a website for you or you are paying for a service. You can also deduct any amount that you are paying an employee whether you are paying in cash, services, or property.
  3. Travel Expenses: You may also be able to deduct travel expenses if your work requires you to travel (to conferences, meetings, etc.). The expenses that are included in this are transportation, meals and lodging, and even the tips that you include while travelling!
  4. Home-Office Expenses: You can even write off some of the expenses that you are using at home. To qualify for this deduction, you must have an area of your home that is for exclusive use for your work and your principal place of business. The only caveat to this is that the maximum amount that you are able to deduct is equal to your income for the year.
As with everything tax-related you will most likely want to have receipts and proofs of purchase for everything that you are going to write off in case of an IRS audit. This is just some of the things that can be deducted so you can start to gather any documents that you think you might need for January. If you have any additional questions, feel free to send me an email or visit the IRS Website.


Thank you for reading! As usual, feel free to comment or send me an email! I love to connect with fellow business owners.
shanicepatrella@yahoo.com
321.300.6297
Skype: MsLuckyDuck

Interested in starting you own home-based business, but not sure where you want to start? Contact me for some great opportunities!

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Wednesday, October 22, 2014

No Marketing, Online Money - IntelliShop

Great morning wonderful readers! I thought to bring you another feature for No Marketing, Online Money. Today I will talk again about mystery shopping! The company that is featured today is a company called IntelliShop!

I have just recently started shopping with IntelliShop and what I love about this particular company is that they do telephone mystery shops! From the comfort of your home, you can call different call centers and companies, evaluate customer service, and write just a brief report to summarize your experience. Of course, they have other shop opportunities in retail, automotive shops, and restaurants where you are able to shop in person. I personally prefer the telephone shops because it is quick and easy! The most time I spend on the phone is about 10 minutes on the phone and the pay is usually between $4-$10, depending on the type of company and the length of the report. Think of that a moment. On the low end, $4 for 10 minutes is equivalent to $24 per hour! How can you beat that?! I strongly believe in the phrase, work smarter not harder.

 How do I get paid? 

Well, that is the million dollar question! IntelliShop pays once a month (normally on the 20th) for the shops for the month previous. For example, for all of the shops that I complete in October will be paid on November 20th. They do pay in lump sum, so if you do 10 shops for the month they will total the payments for you and send it all in one payment.

The only caveat to IntelliShop is that they will ONLY pay via Paypal. They do not cut checks for any reason.

How do I sign up?

As always, with mystery shopping companies you are an independent contractor and not an employee. You must be 18 years of age or older and based in the United States. There is a bit of an application process, but most of it just basic information. Once you are signed up, you will start receiving emails to notify you of available shops in your area. 1-2-3, easy peasy!

What I love about IntelliShop is that the schedulers are extremely responsive especially when you are trying to get clarification about a certain shop or need to ask for a deadline extension. I would definitely recommend signing up if you are interested in making some part-time money with very few hours to put into it!

To get started, sign up here!

As usual I love comments and appreciate followers!
shanice.patrella@yahoo.com
321.300.6297
Skype: MsLuckyDuck

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Join IBOToolbox for a community of like minded network marketers.

Tuesday, October 21, 2014

Positive Affirmations Bring Positive Lifestyle

Good morning everyone! Today's blog is going to be about positive affirmations in the workplace. Not many people realize this, but when you choose the work from home lifestyle, it can get a little isolated. If you're like me, you spend hours talking to people via email or Skype, but in the end you still may ask yourself what am I working so hard for?

My favorite quote is by Eleanor Roosevelt.
No one can make you feel inferior without your consent.
Not everyone is hardwired to see the positive light inside themselves, and one of the keys to success is adapting a positive mindset to improve your own lifestyle. Affirmations help restructure the dynamic of our brains so we can truly think that nothing is impossible. It will also help to keep you focused on your goals and dreams. I am not an overly religious person by any means, but I am highly spiritual. I believe that when you do physically speak your goals and aspirations, it motivates your body to follow through. Whether you believe in an almighty power or just the force of nature, take a moment to speak to yourself in the mirror.

The following affirmations are my top 5 that I have found most inspiring.

  1. I forgive those in my past who have harmed me and peacefully detach from them.
  2. I possess the qualities that I and my business need to be successful.
  3. I acknowledge my own self-worth and my confidence is the highest of high.
  4. My life is just beginning.
  5. Everything I do is being supported by the Universe; my ability to conquer challenges is limitless.
There is no set script for positive affirmations. The best way is to speak about yourself highly and use the present tense. Personally, I like to do these when I get out of bed in the morning and when I am hyping myself up for different things: whether it be a meeting, a client assessment, or any other important things. Try making your own positive affirmations and see the change in your way of thinking!


Thanks for reading! As always, I love comments! Leave yours below!
shanicepatrella@yahoo.com
Skype: MsLuckyDuck
FacebookProfile
Instagram: @hearPANDArawr
Twitter: @hearPANDArawr
Google Hangouts: Shanice Patrella

Would you like to join a community of like minded network marketers and potential prospects? Check out IBOToolbox and join for the low, low price of FREE!

Monday, October 20, 2014

No Marketing, Online Money: Hit Predictor

Good morning, readers! I hope you all had a great weekend! As most of you know, I like to test a lot of sites for myself that claim that you can make money with little to no effort. This week's selection is Hit Predictor.

Hit Predictor is a website that allows you to earn points for rating snippets of songs on the internet. Sign up with HitPredictor takes less than one minute to complete and you also get to chose your favorite genres so that the website will automatically filter what songs will come to your feed. After listening to a snippet of a song, you are presented with some questions or a poll. Once these questions are complete you get a certain amount of points. Once you have earned enough points, you can spend them in the Prize Store, which allows you to choose from some pretty cool gifts including iTunes Gift cards or Amazon gift cards.

 What sets HitPredictor Apart?

I also did a brief blog entry on SlicethePie which is an alternative to Hit Predictor. Many people have been having problems with this particular website -- particularly getting paid what they are due. If you do not mind not getting actual dollars into a bank account, then I would definitely recommend this site. Since it is free and easy to use, you can earn points very quickly. The site also does weekly contests including Hidden Song Contests, raffles, and even referral bonuses!

Many of the rewards that you can earn other than the gift cards are DVD's, CD's, This selection in their Prize Store is quite small and they are often sold out of products. I don't have a CD player anyway, so I would prefer to use the Amazon or iTunes Gift cards.

If you are interested in signing up for Hit Predictor, click the link here! As usual, I encourage you to use your own judgement and do your own research to make sure that an opportunity is right for you!


Thanks for reading! As always, I love comments! Leave yours below!
shanicepatrella@yahoo.com
Skype: MsLuckyDuck
Facebook: Profile
Instagram: @hearPANDArawr
Twitter: @hearPANDArawr
Google Hangouts: Shanice Patrella

Would you like to join a community of like minded network marketers and potential prospects? Check out IBOToolbox and join for the low, low price of FREE!

Friday, October 17, 2014

Better Recruiting -- Do You Interview?

Good afternoon everyone! It's a beautiful Friday and I am super pumped! I don't know if it is the changing weather or something in the air but I have so much energy. :-D Today, I will be talking to you guys about recruiting for your downline and the importance of an interview. In this post, I will using the term interview in its most basic definition.
Interview: a formal meeting in which one or more persons question, consult, or evaluate another person.

This is network marketing! Why should I interview?!

Well, the answer is simple. To build a strong downline, you want people that will work hard. If you do not ask questions you do not know what skills they may or may not lack. As we all know, not everyone is fit for network marketing and it is not fair to you or them to waste time on something that is not going pan out. Asking questions will also allow you to build rapport with your potential prospects as well. Nothing feels better than being treated like a person with actual interests and goals. When you are able to get down to the personal level, you are then able to build upon that relationship to develop a stronger business relationship.

The type of questions that you ask and the responses that you give will also allow the prospect to make a more educated decision to join your company. We all have seen time and time again where people recruit a massive amount of people that seem to quit after a week's worth of work because they did not have the proper information. Your recruits will also see you as a serious business owner instead of one of these "scam artists" that are claiming that they have made millions when in reality they are struggling with their downline themselves.

What questions should I ask?


Of course, the questions will depend on the type of company that you are running and the type of recruits that you hope to gain. The questions listed below are just a few examples of what you can ask and how you can use the response to further sell yourself as well as your company.

Do you work currently?
(if yes) Would your current job allow you to take on a part-time venture?
(if no) What are you looking to get out of this project if I can help you do well?

What is your main reason for wanting to join?
This will allow you to gauge the nature of the person that you are interviewing. If they are more interested in earning fast money, be honest and transparent with realistic expectations. If they are looking for freedom and flexibility, still be honest and let them know what kind of work load they should expect. Transparency will allow people to see that this is a legitimate business opportunity instead of a scam.

Have you heard of [ MY COMPANY ] before? From whom? 
This is a very important question! This will allow you to see if your prospect is more susceptible to believing what they see and hear and jumping to conclusions. It will also tell you of their people skills. If all they are telling you are the negative things and you refute with positive and they give you conditional statements "but that's not what she said. etc," you may want to reevaluate whether this candidate would be a good fit for the position. If they are on the fence, tell them a little more about the benefits and services of the company and encourage them to dispel any incorrect rumors they hear. They will feel much less pressured and be more prone to wanting to try the process themselves.

Is this a temporary venture for you? Where do you see yourself in 5 years? In 10 years?
This last question is a good question as well. If you are the type that is looking for a long term team, this will help you disqualify candidates quickly. If your company will allow the prospect to reach the goals that they have in 5 or 10 years, come up with a plan to help them. Not only will this generate revenue for you, you will also gain the confidence of your prospect that you are not just looking for people to make money but you are genuinely concerned with helping to make their dreams come true.

So, there you have it. Hopefully this will help you reevaluate how you are recruiting your downline and improve your conversions significantly. If you have any questions, feel free to comment or contact me in any of the following methods. Feel free to pitch me your own opportunities. ;D

Have a great Friday!


Thanks for reading! As always, I love comments! Leave yours below!
shanicepatrella@yahoo.com
Skype: MsLuckyDuck
Facebook: Profile
Instagram: @hearPANDArawr
Twitter: @hearPANDArawr
Google Hangouts: Shanice Patrella

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Wednesday, October 15, 2014

Tax Time! 1099 vs W2

Tax Time! 1099 vs W2

Hey readers!

It is getting to be that time where people like me that have been working at home for a while start breaking out the calculators to pay Uncle Sam. Yep! Tax time is around the corner, and for those of you that are tax preparers, I would suggest taking a look at the IRS website to see some of the new regulations and requirements for the 2014 filing season.

Anywho! As a tax preparer, I try to explain to many people about the differences between being an independent contractor and being employed by a company. No one likes it, but everyone has tax responsibilities. This is 'MURICA! The IRS wants their money and I am going to explain some key differences between classifying yourself (and your employees, if you have any) under a W2 employee or a 1099 contractor.

Employee and Independent Contractor Explained

According to the IRS, an independent contractor is as follows:
"...an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. The earnings of a person who is working as an independent contractor are subject to Self-Employment Tax. 
You are not an independent contractor if you perform services that can be controlled by an employer (what will be done and how it will be done). This applies even if you are given freedom of action. What matters is that the employer has the legal right to control the details of how the services are performed.If an employer-employee relationship exists (regardless of what the relationship is called), you are not an independent contractor and your earnings are generally not subject to Self Employment Tax."
So, in the most simple of terms if you do not get to set your own schedule or direct the work that is being done, you are most likely an employee.  If you are currently an employee and taxes get taken out of your check each and every pay period, come January, you will be issued a W2 from your employer. If you are an independent contractor, you receive full pay from your job and no taxes are taken out which usually ends up in a higher net income. If you make over $600 per year, then your company will issue a 1099. Doesn't seem fair, does it? The reality is that independent contractors will pay higher taxes because not only do they owe an income tax, but they also owe a self-employment tax as well! On average, an independent contractor will be paying near 16% of their taxable wage where as someone that is employed and issued a W-2 will pay an average of 8%. That's half of the tax someone that is self employed will have to pay!

In the past few years, the IRS has been cracking down on employee misclassification. From large companies, to tiny start-ups the fines can be outrageous if you do not file your taxes properly and completely.

Plan Your Tax Liability

Now, if you are going to claim as a self-employed or an independent contractor, I STRONGLY encourage you to start planning your tax liability as soon as you are able! I cannot count how many new business owners that I have encountered that reaped the benefits of owning their own business, but did not plan for the tax portion at the end of the year. 

The IRS recommends to send in quarterly payments of up to 20% of earnings to fulfill tax obligations. If there is any overages, you will just receive a refund just like any other person that is earning a wage. For more information, feel free to visit the IRS website.


I will continue to post weekly about what to expect this tax season and some more tips to hopefully maximize your refund and minimize your tax liability.



Thanks for reading! As always, I love comments! Leave yours below!
shanicepatrella@yahoo.com
Skype: MsLuckyDuck
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Monday, October 13, 2014

Big Dreams; Lots of Work

Hey everyone, I know you guys have been missing my posts about legit work at home opportunities! I just want to let you all know that I have been working hard on launching my own company. ;) Of course, it will be a focus on helping people find work-life balance by working at home whether it be answering customer service calls, working with a chat service or network marketing.

Everyone is different and freelancing is a wonderful thing. When you are an independent contractor you can basically work whenever you want without having to worry about the things that might happen with your family or social life.

The most important thing is discerning whether you are working at home for the right reasons. Do you want to work at home because it will really benefit you? Or are you working at home so that you are no longer under the scrutiny of a regular office atmosphere? There is a lot of discipline that goes into working from home. I did not realize that until I started working from home full time. It really is so tempting to stay in bed until ten minutes before you have to work.

Anyway, keep an eye on the developments of what will soon become Virtusaurus, LLC. ;D




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shanicepatrella@yahoo.com
Skype: MsLuckyDuck
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