Coffee heat rising

Entrepreneurs

He Gave It a Good Try….

by

So I drove through the Walmart parking lot where our favorite little neighborhood coffeeshop resided. When SDXB lived here in the’Hood, we used to trot over there every couple of days to loaf over a cup of (excellent!) coffee before we went about our appointed errands.

The place was situated right across the street from John C. Lincoln, a large regional hospital. The little shop’s proprietor figured if he could produce a superior product and also provide some top-flight bakery, the hospital’s employees and patients would cross the road to patronize his place. Plus a large Walmart store also stood on the same corner — presumably some of its customers would come in.

Well…I dunno how valid those theories were. But it seemed to be working: the coffee shop was in business for several years.

So SDXB and I used to go over there every few days: at least two or three times a a week, often more than that. Though the place was never full to overflowing, there were always at least a few folks in there, no matter the time of day. We did enjoy it and were happy to have it in the neighborhood.

But…after SDXB moved out to Sun City (a 40-minute drive from our parts), I pretty much stopped going there.  Eating out (or sipping coffee out) by myself doesn’t appeal to me — mostly I go out for the company, not for the food.

Well, obviously SDXB and I were not single-handedly keeping the guy’s place in business. Hafta say: I could not figure out how he managed to stay open. Money-laundering, maybe? 😉

He evidently couldn’t — not forever, anyway. ‘Cause he’s closing down now.

He probably took out loans to start up the business and keep it going until it could catch on. And…well…no doubt when that money ran out, he must have had to shut the doors.

{sigh} It really is hard to imagine why he figured people at a large regional hospital would come across the street to buy coffee and sweet rolls at his place, when those facilities invariably have restaurants and coffee bars on the premises.

Strange.

And further ruminating…

by

Yes. When you’ve lived in a neighborhood long enough to become a historic fixture, your brain is filled with layer on layer on layer of memories.

Just now the adorable young father of the incredibly adorable young kids in the house behind us, spouse of the spectacularly adorable young mother, is out in the backyard mowing grass. The kids are giggling and hollering and carrying on. The sun is setting and the evening is turning to dusk.

Oh, my,… HOW Sally, the former resident of that house, would be delighted to have that lovely young family in there. She and her room-mate: oh indeed, they would be thrilled.

The two women were grade-school teachers. Old Maids. Having never married, when they met each other on the job and figured they could tolerate each others’ company, they decided to go in together to buy a house in a lower-middle-income neighborhood of lovely (ahem: terrifying) Sunnyslope.

As it developed, SDXB moved in right straight across the street after I booted him out of my house, a block to the north and a block to the west.

So it was that we became friends with the Old Maids. And what fine neighbors they were.

Sally’s companion eventually passed away. Sally, seeing the end in sight herself, sold the place and moved into an old-folkerie. Time passed. SDXB, in terror of Tony the Romanian Landlord (he who threatened the judge in the lawsuit we won), moved to Sun City. I, having lived in Sun City once and decided that was quite enough, refused to go. Instead, I got out a number of…uhm, toys…armed myself to the teeth, scared the sh!t out of my lawyers, and cooed, Tony, make my day!

One of Tony’s sterling characteristics — he has several — is that he is no fool. Yea verily: he is very, very smart. That being the case, he proved it by refraining to commit any new criminal frolics.

The dust has now settled. Tony and his lovely Pretty Daughter are deeply engaged in building their rental empire, and I’m still here. And…no one has had to make my day. ;-D

Because — of course — Tony is no fool.

Tony’s sweet and intelligent and horribly beaten-down Other Daughter lives two doors up the street from the Funny Farm. She is an excellent human being, IMHO. If I dared…if she dared…we would make good friends.

Oh, well.

The upshot is, she and I are not enemies. 😀

***

I don’t know if Tony is a good man. But I believe he is more than that: he is a great man.

Yes. In his context, he is a great man. He has accomplished feats that you and I could only fantasize about….partly because we couldn’t conceive of them and then, even if we did, couldn’t figure out how to pull them off, and partly — mostly — because none of us would be willing to work that hard.

Seriously: the things he has accomplished have simply defied belief. And if you stood back and watched him, the sheer amount of hard work he poured into those feats would boggle your little Yankee mind. He is, truly, an incredible man.

****

Is that why I’m not afraid of him?

Possibly. I’d like to say I’m not afraid of him much. I’d like to say I respect his intelligence and his ambition enough to know he’s not doing to fuck himself up.

But then there’s my Daddy. Yeah. The Daddy who taught me not to to be afraid of a helluva lot.

Who knows?

The truth is, Tony is dangerous. The truth is, Tony is too smart to engage that quality. The truth is, Tony is not gonna put all that he’s worked so hard for at risk. The truth is, my Daddy was right: stand your ground. The truth is, because Tony is no fool, he’s not very dangerous.

Bless’im.

Ohhh those beautful playing children. How I wish Sally could be here to be the melody of their laughing!

Stand your ground, Dear Daughter…

 

 

 

Coulda Shoulda Woulda

by
Sittin’ by the dock of the bay….
Actually:
Loafing on the front patio,
watching the hours flowing away…
***
Just posted this squib at my favorite time-wastin’ site, Quora.
Is a PhD really worth pursuing? How many PhD students can really get ‘productive’ or real-time use output from their PhD research?
Victoria Hay, Ph.D.
Retired academic; owner of The Copyeditor’s Desk, Inc.

Profile photo for Victoria HayThe Ph.D. may (or may not) be worth pursuing…if you have an independent source of income.

You need a working spouse or an inheritance to keep a roof over your head and food on your table while you’re “pursuing” the Ph.D. Otherwise, you’re certainly not going to be “productive” or generate “output” from your research, because you’ll be too busy working two full-time jobs: one to support yourself and one to generate credit toward the doctorate.

Would I do it again?

Huh…let’s think about that…

  • I got a great job at Arizona Highways Magazine after I’d finished the degree. But that was only because the boss was impressed with academics. For him, it was a grand ego trip to have a someone with a doctorate on his staff. The job I landed was in journalism; it had nothing to do with academia.

Most employers are not that easily flamboozled.

  • I got a nice ego trip of my own when my dissertation was picked up by a prestigious publishing house. Does it matter that I’ve never seen a penny from sales on that book? Meh! Probably not: again, because the flamboozled boss thought that publisher was so awesome that he wanted to hire me.
  • Eventually, I got three books published through respectable presses.

All very nice…except I’ve never seen a penny in royalties from two of those books.

  • Later in life, I got an academic job.

Whoop…de…doop.

One of my academic colleagues and I did a little pragmatic research and discovered we would be earning more cleaning house for a living than the university was paying us at the associate professor level. In fact, we seriously considered going in together to start a house-cleaning business.

  • Would I do it again?

Hmmmm…. Probably not.

If I had gone whole hog into magazine publishing starting the minute I finished the bachelor’s degree, I would have had more fun in life; I would have had a lot more people reading my published words; I would have been paid a helluva lot more than I earned in academia; and I would never have been tempted to think about starting an enterprise as a cleaning lady.

Wanted: Indiana Jones for Senior Consumers

by

One of the many joys (yes: that’s /s/) of aging is the attitude of Americans toward the elderly. This ranges from the nasty to the predatory: overall, Americans regard their older compatriots as idiots, negligible fools, and nuisances. One aspect of this is said to be that merchandisers all across the board target the elderly (when they notice us at all) for scams and rip-offs.

It’s true: they can and do pull the wool over your eyes more often and more easily, because older people tend to be more trusting. And if experience serves…that opinion appears to be true. I do not remember vendors, back in the day of my Misspent Youth, trying to cheat me, people trying to feed me ridiculous and obvious lines of bull, salespeople trying to overcharge me as a routine matter…and on and on.

The business with the junk refrigerator is a case in point. Nothing more has been heard from AMEX about that fiasco — one of the several “fun” chores on the slate for today is to call American Express and rattle their cage about that. Meanwhile, I need to buy another refrigerator — one that doesn’t keep me awake all night rattling and roaring…which will set me back another $1400.

It useta be… that when I wanted something, I would do the research on-line and in consumer publications; then go into a store and say I want this and this and this, and I do NOT want that and that and that. The sales person would appear to understand plain English, and s/he would show me this and this and this and NOT show me that and that and that.

Now that I’m Old, though…EXACTLY the opposite happens. Sales people seem to assume that I’m naive, stupid, and just plug-incompetent.

When, O dear merchandiser, when you insist on hustling me to buy something that is not what I asked for, and when I can see that what I asked for is right there on the floor, then I perceive that you’re trying to rip me off. (Yes: upselling me when I know exactly what I want IS a form of rip-off, thankyouverymuch.) And, my friends…that perception happens more and more often with every passing month of age. How can I count the ways that I’m sick & tired of nitwits trying to rip me off when they decide that because I’m old, I must be stupid?

At this point…seriously: I would be willing to pay a fee to someone who would go to the vendors in town to do the shopping I need to have done — I would PAY YOU to order a refrigerator for me. I would PAY YOU to buy me a new microwave. I would PAY YOU to take my car to the dealership, get it serviced, and repel all offers of unnecessary work. I would PAY YOU to get the plumbing fixed. Because even if I paid you for those things, I would save money…and also escape a great deal of aggravation and frustration.

A Quick Guide to Taxes for Self-Employed American Expats

by

Susan-B.-Anthony-DollarThe United States is only one of two countries that have adopted a citizenship-based taxation system, the other being Eritrea in Northeast Africa. This means that all U.S. citizens and permanent residents (also known as Green Card holders) are required to file a return and pay tax on their worldwide income, even if they are based in a foreign country.

For self-employed expats who are thinking of starting a business abroad, this could mean an additional layer of complexity to an already complicated system of tax filing and reporting. But just because the U.S. tax system works against expat taxpayers doesn’t mean you should give up on your goals.

Here’s a quick guide to filing taxes as a self-employed expat.

What is self-employment?

People who work for themselves are considered self-employed. While the term is generally associated with small side hustles, working as an independent contractor or opening a business also counts as self-employment.

According to the IRS, a person can be considered self-employed if:

  • They carry on a trade or business as a sole proprietor or an independent contractor
  • They are a member of a business or trade partnership
  • They are otherwise in business for themselves (including a part-time business)

It’s important to note that a person can be both self-employed and also work as a salaried employee. Many expats have started businesses on the side while holding down a full-time job.

Self-employed expat taxes

Self-employed expats often deal with heavier tax responsibilities compared to their salaried counterparts.

For starters, self-employed taxpayers have to withhold taxes from their income themselves, which results in extra paperwork and research. They also have to pay self-employment tax (for Social Security and Medicare) on top of their income tax.

Self-employed taxpayers may also have to pay estimated taxes quarterly. Ask a tax professional to clarify your tax situation to avoid a hefty penalty at the end of the year.

What is the threshold for self-employed tax

The reporting threshold for self-employed individuals is substantially lower than what most taxpayers are accustomed to. Self-employed expats who earn more than $400 in a year are required to file a tax return.

Is foreign income subject to self-employment tax

All income from self-employment, even from foreign sources, is subject to U.S. taxation. Self-employed individuals are required to pay a 15.3% self-employment tax: 12.4% for Social Security and 2.9% for Medicare.

However, you may claim an exemption from paying U.S. Social Security tax if the United States has signed a totalization treaty with your country of residence.

Self-employed tax deductions

The IRS allows self-employed individuals to deduct business expenses from their taxable income, reducing their tax bills. Make sure to take advantage of all the benefits available to you to minimize your tax liability.

Some business expenses you can deduct include:

  • Legal and professional services
  • Business-related travel
  • Equipment and supplies
  • Marketing
  • Utility bills
  • Insurance
  • Business meals and entertainment

Just make sure to keep your records updated in the event of an IRS inquiry. Every deduction must be supported by documentation such as a receipt to justify the claim.

Self-employed tax exemptions

Self-employed expats who already pay income tax to their host countries can take advantage of tax exemptions to minimize their U.S. tax liability on the same income.

For instance, the Foreign Earned Income Exclusion allows you to exclude up to $108,700 (for tax year 2021) of foreign-earned income from U.S. tax if you are based in a foreign country.

You may also take a Foreign Tax Credit for foreign income taxes imposed on the same income. Self-employed expat taxpayers may claim a dollar-for-dollar tax credit on income tax paid to the host country’s tax service. This means you can use your foreign income tax bill to offset your U.S. taxes.

What if I’ve never filed self-employed taxes?

Self-employed American expats who haven’t filed a U.S. tax return may use the Streamlined Foreign Offshore Procedures program to report foreign-earned income and pay back taxes without facing penalties.

Tax planning for self-employed expats

Filing taxes as a self-employed expat can be confusing and time-consuming. You are expected to stay on top of your tax obligations while running a business abroad. You also risk incurring heavy penalties if you make a mistake on your tax return. If you want to make sure your taxes are done correctly, your best option is to work with a professional tax service .

Four Quick and Easy Ways to Generate Income In Your Everyday Life

by

by John Garber

If you want to improve your financial situation, you have two options. The first and easiest is to cut expenses. There are plenty of articles on our site and elsewhere with great advice on how to do that.

What’s rare is good advice about the other option: how to make more money. Adding more cash to your bottom line will improve your financial position. Below are our four favorite ways to do that.

Note: These Are Not Second Jobs

Some ways to earn extra income amount to getting a part-time job or starting a business that becomes a part-time job. These are great ideas for people with extra time and energy, but they’re not the only option.

This list has four solid models for you to bring in extra money without devoting significant time to it. You have a life to live, people you love to spend time with, and a career. These ideas will help ease financial stress without spreading yourself too thin.

Four Personal Income Generators You Can Start Using Today

1. Purge and Profit

This income generator combines the benefits of making your home tidier with bringing in extra cash, usually for a one-time or short-term money infusion. There are many variations, but they all follow the same basic framework:

  1. Clean your house, using a box or bin to accumulate things you can live without. Move stuff too big to fit into the box to a special place in your house.
  2. Identify which of these items has a monetary value.
  3. Sell those items on Craigslist, eBay, or similar websites or have a garage sale to sell lots of items at once.
  4. Bundle up items that didn’t sell the first time and re-list them together. Often, people will see the value and buy them during this second round.
  5. Donate what’s left to Goodwill, and get a receipt for tax season (you can deduct charitable contributions if you itemize).

Whether you do this with a single collection you once loved but now don’t interact with, or by pulling stuff out of every room in your house, it’s not hard to make several hundred dollars from this method. It’s even easier if you follow a few of these best practices:

  • Clean the items first, so they look as attractive as possible
  • Take high-quality photos to include in your listings
  • Write detailed, compelling descriptions for each entry
  • Answer potential buyers’ questions quickly and professionally
  • Set prices according to what similar items sell for
  • Don’t hesitate to haggle and bargain to sell as much as you can in as little time as possible
  • Publicize your sale on social media and other venues

2. Monetize Your Hobby

You likely have a hobby or interest, something you enjoy and you do well. There are ways to make money off the skills and expertise you’ve accumulated from it. Examples include:

  • Creating an Etsy account to sell the product of your crafting hobby
  • Writing articles for magazines associated with your hobbies and interests
  • Pet-sitting or dog walking if you’re an animal lover
  • Offering personal services, such as cleaning if you’re an organization junkie
  • Coaching or teaching people who want to learn more about your hobby or interest
  • Creating online content, like an e-book or video course
  • Putting your photographs on image clearinghouses like Getty Images or Flickr
  • Selling your artwork in local galleries and cafes

These are just some of the ways people turn their passions and interests into cold, hard cash. For some, it’s a way of helping the hobby fund itself. For others, it’s a route to a better financial situation.

Start by considering your hobbies. What do you love doing so much you’ve become an expert at it? How might you turn that skill and expertise into something other people want or need? From there, put together a plan.

3. Find Part-Time Work Online

You don’t want the demands of a traditional part-time job, but you can make money in small sessions of flexible work using a number of different online sources. As with monetizing your hobby, there are dozens of ways to do this. Here are nine you can get started on right away:

  • Log in to Mechanical Turk to do small jobs that add up to big money.
  • Get paid to fill out market research questionnaires on sites like Focus Pointe Global and Delve.
  • Participate in paid surveys from Survey Junkie, Pinecone, or Prolific.
  • Set up an account at Fiverr or Upwork to do simple design, editing, and writing tasks.
  • Review websites for UserTesting.
  • Google “Get paid to _______”, filling the blank with tasks you might find fun to perform, like “write,” “watch TV,” or “play games.” Log in to the sites that best match your needs. Read the fine print carefully.
  • Deliver with services like DoorDash and Deliveroo.
  • Review music at Slicethepie.
  • Become a mystery shopper through any number of sources. (Just Google “mystery shopper” plus your location.)

You can choose one of these options and pursue it heavily, or work on several options over the course of a month to generate a substantial income stream. Either way, the opportunities are real, as is the difference they can make for your finances.

4. Flip Products

This is the riskiest item on this list, but if you have the expertise and a little cash available, it can become a reliable and easy way to make extra money.

  1. Find items for sale at well below market rate. Books, furniture, power tools, yard equipment, and watches are good candidates for flipping.
  2. Clean them up and research their potential full value.
  3. List and sell them on eBay or Craigslist.
  4. Use some of the profit to scale up the project by buying more items to list.

The key to success is finding reliable sources of goods at well below the price people will pay for them. Research how much certain items are selling for on eBay and Craigslist, then look for them in locations such as:

  • Estate sales
  • Garage sales
  • The clearance rack at stores you frequent
  • Lots and bundles sold on eBay
  • Thrift shops
  • Craigslist giveaways
  • Flea markets

Also, let friends, family, and acquaintances know you’ll take their items to the dump or Goodwill when they clean out their homes. Make it clear you plan to sell things you think you can flip. Most people won’t mind if you’re upfront about it.

Final Thought: The Real Question

When deciding which income generators are right for you, ask yourself how you want to earn your extra money and what you want to use it for.

Do you want to earn a one-time lump sum to pay off credit cards, afford something you need, or make a single change to improve your life moving forward?

Or do you want to earn a little extra money on a regular basis, so your monthly financial life is a little easier?

There’s no right or wrong answer, but knowing your goals will help you pick the strategies that will make the biggest difference in your financial life.

John Garber lives on the West Coast, where he works in technology and currently has a few side hustles in play.