Guest Blog - Accounting and Business

Divorce: Yes, it's Expensive

March 25, 2014

Divorce: Yes, it's Expensive

 

Divorce - especially if kids are involved - is among the most emotionally trying experiences a person can endure. More than just your feelings are at stake, however. Dissolving a marriage can also be a financial wrecking ball. If you're already behind with lenders, a divorce can make getting out of debt even more difficult. Follow this guide to making divorce as financially bearable as possible.


Divorce is rarely easy and often expensive.

Don't Represent Yourself

According to expert advice, people who represent themselves bring their emotions with them to the bargaining table. A professional brings judgement that isn't clouded by the emotional toll a divorce inevitably takes on the participants and will make clearer, less-biased decisions.

Avoid Court

Experts advise that court should be a last resort. Litigating in court is time consuming and expensive. Consider instead arbitration or mediation. In mediation, a neutral third party, or mediator, acts as a middleman and negotiates reasonable terms. In arbitration, a third party is hired to make decisions for the couple, the same way a judge would. Mediation and arbitration are often quicker and cheaper than court.

Hire an Accountant

Instead of a lawyer, hire an accountant. An accountant can breeze through your tax returns much more quickly than a lawyer; also, they are generally less expensive and bill for fewer hours. They have a better understanding of financial matters and are generally better at understanding money issues such as securities and assets.

Don't Squabble

It's easy for divorcing couples to get caught up in "that's mine, this is yours." Thousands can be wasted arguing over modest assets such as furniture, a television, etc. Not only will you save the larger expense and headache, but not squabbling over small-ticket items can put you in a position of greater leverage when it comes to the really important matters.

Be Organized

Respond to emails, phone calls and letters right away. Always fill out any requested documentation before any deadlines arrive. Try to keep records with extreme accuracy. Documentation is the best way to back up your word if you ever do go to court.


Divorce is emotionally trying, but it's in your best interest to remain civil.

Divorce is almost always going to be emotionally trying, exhausting and upsetting, but it can also be extremely expensive. Many people who live comfortably get divorced and never financially recover. Consult professionals before you agree to anything, consider an accountant instead of a lawyer and do your best to avoid court. Most importantly - especially if children are in the picture - be as agreeable and reasonable as possible. Try to get it over with. As soon as you do, your new life can begin.

Andrew Lisa is a freelance writer living in Los Angeles. He writes about legal and family issues.

 

Using Your Accountant for Business Advice

March 21, 2014

Using Your Accountant for Business Advice3867706307_08c8c47afa_b.jpg

Photo credits:  Dennis Wong


Should you use your accountant for business advice? Well, this all depends on what type of advice you want to get. We're going to go over some of the pros and cons of getting advice on your business from your CPA. As you'll see, sometimes it's a good idea but other times you should avoid it if at all possible.


Pros and Cons of Accountants Giving Biz Advice


Here's a look at several pros and cons of accountants giving out busine...


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Evaluating the Pros and Cons with Offshore Investing

March 18, 2014

Evaluating the Pros and Cons with Offshore Investing

One very popular investment strategy being practiced in years is the offshore investing strategy. What this type of investing means is that, it capitalizes on various investment options that are readily available outside the investor’s country. This helps private individuals that are looking to invest somewhere safe to keep their money in another country without being charged of taxes or extra fees.

Why the need for offshore investing?...


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Will The Stock Market Crash Again

February 3, 2014

Will The Stock Market Crash Again


Photo Credits: telegraph


Is a stock market crash a la 1929 Black Monday, Black Tuesday and Black Thursday brewing in the corridors of the Wall Street edifices? Or, the one that happened in 1987? What will happen if it indeed happens? Will a Great Depression follow in this case too?

Experts’ Speak


Looking back, a fall of 22.6% in Dow Joes Industrial Average came about on Oct. 19, 1987. If a similar drop takes place now, Dow will show a reduced figure of 3,400 p...


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3 Tools for Managing Your Personal & Business Finances

January 31, 2014

3 Tools for Managing Your Personal & Business Finances

 

Staying on top of your finances is rarely as easy as you probably would like for it to be. With work and your personal life, as well as not enough hours to fit it all into, finances can sometimes find their way to the back burner. However, managing your finances should be a priority in anyone's life. If you hope for financial success in the future, the best way to get there is by arranging your finances now. Here are some tips and too...


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5 Super Smart Ways to Save as a Family

January 11, 2014

5 Super Smart Ways to Save as a Family

Being part of a family means always having someone to borrow money off of, as well as having an emotional support network to rely on for when things go pear shaped (isn’t it strange that pears are used as the pinnacle of all things negative – surely the banana is equally out of shape?)

Of course having a few kids - necessary to form the traditional definition of a family - can be rather expensive. So once those tiny wee bumpkins pitter-patter alon...


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Am I Getting My Money's Worth from HR?

January 8, 2014

Am I Getting My Money's Worth from HR?

 

Most human resource departments believe it is their duty to be a partner with management. Human resources can act as a buffer between management and employees—or sometimes the department gets in the way.

 

At the end of the day, it all depends on where you stand and the type of people in your HR department.

 

In order to get the most and best production out of your human resource department, keep the following in mind:

 

Partner in Business

...
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Bookkeeper OR Accountant - Which one do you choose?

December 28, 2013

Bookkeeper OR Accountant - Which one do you choose?

Let us put you out of your misery right from the start – it is a trick question because you may need both!

Firstly, let’s explore the difference between the two…

A bookkeeper, like the services offered by Books and Words, can be defined as a much needed time-saving exercise. We sort through, organise and create a spreadsheet of your finances from the financial year in question. We can do this on a monthly, ongoing basis or, like s...


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Time Management for Accountants

December 28, 2013

Time Management for Accountants


photo: trainersconference.co.uk


How often does it happen to you that you have too little time to cover all the things you want to do? Also, you know how to complete your work in a better way, but just do not have the time to make changes to your schedule. Well, that is a very common thing that happens to all of us. Here are some tips to manage your time if you are an accountant. You may want to earn a Cert IV in Project Management in Sydney or start your own prac...


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Budgeting Tips for Retirees

December 19, 2013

Budgeting Tips for Retirees

In the course of our lifetimes, we always have to deal with the reality of the cost of living, because living costs. Just because someone ages and retires doesn't mean that the expenses stop coming. Sure, some expenses go away when you retire, but they are inevitably replaced by more age-specific ones.

Here are some money management tips for helping your budget come to terms with your retirement.

The Computer Is Your Friend

Whether it's going on the Internet t...


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