This Nashville Treehouse Will Drench You in Light â House of the Week
With a dreamy bed, upcycled elements and original art, this Music City dwelling elevates tranquil living.
With a dreamy bed, upcycled elements and original art, this Music City dwelling elevates tranquil living.
6 Best Ways to Get Out of Debt and Achieve Financial Freedom is a post originally published on: Everything Finance – Everything Finance – Its all about Money!
Debt is part of life, but you should never let it drain you to the point where you start to relate your own worth and happiness to financial obligations like debt. As difficult as it may be, it’s important to face your debts head-on and relieve yourself from that burden in order to achieve financial freedom. Financial freedom is something most people crave to achieve, but debt can serve as a major roadblock to achieving that. In order to save more, invest, and become more financially independent, you need to free up the cash from your budget in the first
6 Best Ways to Get Out of Debt and Achieve Financial Freedom is a post originally published on: Everything Finance – Everything Finance – Its all about Money!
No space to bring outdoor furniture inside in bad weather? Make sure to keep them covered during the winter months. But instead of buying pricey furniture covers, protect lawn chairs and tables by covering them with large plastic bags. If you have metal deck furniture, apply a bit of petroleum jelly to areas where they've been known to rust to prevent them from rusting during the winter—and beyond.
Icy sidewalk? Throw cat litter down instead of rock salt. It won’t harm your grass, stain your clothes, or hurt the environment, but it will provide plenty of traction for safe walking and driving.
While you have that petroleum jelly out, apply a thin layer to the threads of all your outdoor light bulbs. It will prevent them from rusting and make them much easier to replace when they blow out.
According to the Environmental Protection Agency, a well sealed home can be up to 20 percent more energy efficient. Most leaks occur in the basement or attic—look where you feel a draft or around wiring holes, plumbing vents, ducts, and basement rim joints. You’ll be able to seal lots of leaks with a simple caulking gun, but for instructions on how to plug larger holes, check out these tutorials from EnergyStar.gov.
Try an old masonry trick to brighten up soot-stained brick. Mix a can of cola with 3½ fluid ounces all-purpose household cleaner and 3 ½ quarts water in a bucket. Sponge onto sooty brick and leave for 15 minutes. Loosen the soot by scrubbing with a stiff-bristled brush. Sponge with clean water. For a stronger solution, add more cola.
What are your favorite tips of taking care of your home in the winter? Share them with us in the comments section below!
Images courtesy of Shutterstock and Who Knew?
Now that the new year’s first episode of “Celebrity IOU” has arrived, Drew and Jonathan Scott break out their top tricks for opening up a cramped house.
The post The Property Brothers’ Best Small-Space Renovations for 2021 appeared first on Real Estate News & Insights | realtor.com®.
The massive Virginia equestrian estate once owned by the late radio and television host Arthur Godfrey is now on the market for $2.3 million.
The post Former Virginia Estate of Radio and TV Legend Arthur Godfrey Listed for $2.3M appeared first on Real Estate News & Insights | realtor.com®.
Fun fact about pandemic life: Zoom fatigue is real. And not just real, but “widely prevalent, intense, and completely new,” according to Psychiatric Times.
Although we might be avoiding Zoom these days when an email or even a phone call (is it 1986 again?) will suffice, there's one place where video conferencing still shines, and that's the good ol' brainstorm.
Old school brainstorming was creative and connective and interactive—all things difficult, but not impossible, to recreate virtually.
When I picture brainstorms of years past, I see images of big tables full of candy and fidget toys and pens and Post-Its galore. Old school brainstorming was creative and connective and interactive—all things difficult, but not impossible, to recreate virtually.
Today we’ll talk about some virtual brainstorming strategies I’ve seen work really well. And then hopefully, you’ll give one a try.
brainstorms shouldn’t be a catch-all for any group conversation.
Back when our biggest workplace woe was a vending machine out of Diet Coke, many of us took brainstorming sessions for granted. But in a virtual world, it's harder to organize, facilitate, and get people engaged.
That's why brainstorms shouldn’t be a catch-all for any group conversation. (Often what you’re looking for is just a meeting.) Brainstorms are a very specific brand of discussion in which a collective of creative voices, ideas, and opinions are necessary inputs to achieve a valuable output.
Because of challenges like Zoom fatigue and burnout, I urge you to be stingy with your brainstorming sessions. They're a fabulous enabler of ideas and solutions, so do use them. But do so strategically and with clear intention.
Because of challenges like Zoom fatigue and burnout, I urge you to be stingy with your brainstorming sessions.
What are some great occasions to host a brainstorming session? Use them when you need to:
These and many other scenarios call for a variety of perspectives in which there are no right or wrong answers, but only ideas.
In contrast, many other occasions don’t call for a brainstorm. Like when you need…
These are not brainstorm moments—they're meetings with a much more defined outcome. See the difference?
Okay, so you've figured out that your situation calls for a brainstorming session. Now, it's time to make sure everybody who comes to the brainstorm is on the same page before you begin by creating a statement that lays out the specific problem and how you need to tackle it.
Your problem statement might be something like:
We’re losing market share on X product, and we need to define new features to attract Millennial customers.
And here's another example:
This client wasn’t happy with our last deliverable and we need to redefine how we’re engaging with them.
One of your goals is to keep the session short (because fatigue) while maximizing what you take away from it. A clear problem statement allows you to invite your brainstorming participants to get the creative juices flowing ahead of the actual session.
Now that you've stated the problem or opportunity, it's time to let participants know you’re looking forward to a collaborative discussion and invite them to jot down some early ideas and send them your way.
You can then do some analysis ahead of the session. Did you spot any common themes? Any particular ideas you’re interested in having the group build upon?
Share your findings at the beginning of the brainstorming session. This will give you a strong foundation from which to build.
Love it or hate it, video conferencing technology is definitely your friend in a virtual brainstorm. It allows you to create a purposeful connection amongst participants. But you have to understand how to engage them.
When I used to run in-person meetings with leadership teams, I was always intentional about switching up the activities every 30 minutes or so. I’d facilitate a breakout, and then we’d do a quick poll, and then I’d have people plot Post-It notes around the room, and more.
Keeping things changing and moving is a great way to keep adults engaged. According to the Harvard Business Review: "If you don’t sustain a continual expectation of meaningful involvement, [people] will retreat into that alluring observer role."
So take the time to learn the features of whatever platform you’re using, and make the session engaging. Some tactics you might try?
Of course, talking is part of any brainstorm. But using technology can keep participants from slipping into the shadows without contributing.
A brainstorm isn’t successful because of how smart its participants are, but because of how much freedom and space their voices are given.
A client once told me this story about a packaging company that was struggling with productivity. Their products had to be wrapped in newspaper before being shipped. But often, as employees were packaging product, they’d accidentally start reading the newspaper, losing precious packing minutes. These minutes added up to lost productivity.
One day the leadership team was brainstorming solutions to this distraction problem and one executive said, “Well, what if we just poked their eyes out?”
Of course, he wasn't serious—the question was absurd and meant to add a little humor. But it triggered a new line of thinking. Eventually, the company established a partnership with a non-profit organization that finds jobs for blind people.
Is this story true? I’m honestly not sure. But it’s a great illustration of the importance of free-flowing ideas.
A brainstorm isn’t successful because of how smart its participants are, but because of how much freedom and space their voices are given.
As the facilitator, what norms can you put in place to ensure that all ideas get voiced without judgment and everyone has a chance to speak?
Here are a few you might consider:
What other norms will keep you on track?
Save a few minutes at the end of your scheduled session to check in on the process. How did it feel for everyone? What worked well and what might you skip next time? Do they have other tactics to recommend?
The best answer to “How do I host a great virtual brainstorm?” is the answer that your own participants give you.
When scheduled for the right occasion and with the right people, brainstorms are a fabulous tool. Don’t be intimidated by them. Just be open to learning as you go.
I’d bet that on just about every city block or long country road, someone is operating a business from their residence. According to the U.S. Small Business Administration, about 50 percent of businesses are home-based, with a larger percentage (60 percent) working as solopreneurs with no employees.
Having a home-based business is one of the easiest and least risky ways to become an entrepreneur, test your business ideas, and increase your income. No matter if you run a business full-time or as a side gig, claiming the home office deduction can significantly reduce your taxes.
No matter if you run a business full-time or as a side gig, claiming the home office deduction can significantly reduce your taxes.
I received an email from John, who says, “My New Year's resolution is to earn more money working during my off-hours and on weekends. Since the work will likely entail making deliveries for different mobile apps, I’m not sure if it qualifies me for the home office tax deduction. Can you explain more about it?”
Thanks for your great question, John! In this post, I’ll give an overview of the home office deduction. You’ll learn who qualifies, which expenses are deductible, and how to legitimately claim this money-saving tax break no matter what type of business you have.
If you work for yourself in any type of trade or business, either full- or part-time, and your primary office location is your home, you have a home business. The designation applies no matter whether you sell goods and services, are a freelancer, consultant, designer, inventor, Uber driver, or dog-walker.
If you work for yourself in any type of trade or business, either full- or part-time, and your primary office location is your home, you have a home business.
You can have a home-based business even if you’re like John and mostly earn income away from home. This is common for many trades and solopreneurs, such as musicians, sales reps, and those working in the gig economy. If you’re self-employed and do administrative work like scheduling, invoicing, communication, and recordkeeping at home, you have a home business.
Note that employees who work from home can’t claim a home office deduction. W-2 workers used to be allowed to include certain expenses if they itemized deductions. But tax reform took away that benefit starting with the 2018 tax year.
The home office deduction is available for any self-employed person no matter whether you own or rent your home, with the following two requirements:
You must regularly use part of your home exclusively for conducting business. For example, if you use a guest room in your house or a nook in your studio apartment to run your business, you can take a home office deduction for the space.
You don’t need walls to separate your office, but it should be a distinct area within your home. The only exception to this “exclusive use” rule is when you use part of your home for business storage or as a daycare. In these situations, you can consider the entire space an office for tax purposes.
Additionally, your home must be the primary place you conduct business, even if it’s just the administrative work you do. For example, if you meet with clients or do work for customers away from home, you can still consider the area of your home used exclusively for business as your home office.
Your home doesn’t have to be the only place you work to qualify for the deduction. You might also work at a coffee shop or a co-working space from time to time.
You could also consider a separate structure at your home, such as a garage or studio, your home office if you use it regularly for business. Also, note that your home doesn’t have to be the only place you work to qualify for the deduction. You might also work at a coffee shop or a co-working space from time to time.
RELATED: How to Cut Taxes When You Work From Home
If you run a business from home, two types of expenses are eligible for the home office deduction: direct expenses and indirect expenses.
Direct expenses are the costs to set up and maintain your office. For instance, if you work in a spare bedroom, you might decide to install carpet and window treatments. These expenses are 100 percent deductible, no matter the size of the office.
Indirect expenses are costs related to your office that affect your entire home. They’re partially deductible based on the size of your office as a percentage of your home.
For renters, your rent, renters insurance, and utilities are examples of indirect expenses. You’d have these expenses even if you didn’t have a home office.
For homeowners, you can't deduct the principal portion of your mortgage payment, which is the amount borrowed for the home. Instead, you’re allowed to recover a part of the cost each year through depreciation deductions, using formulas created by the IRS.
Other indirect expenses typically include mortgage interest, property taxes, home insurance, utilities, and maintenance. Allowable indirect expenses actually turn some of your personal expenses into home office business deductions, which is fantastic!
Allowable indirect expenses actually turn some of your personal expenses into home office business deductions, which is fantastic!
However, expenses that are entirely unrelated to your home office, such as remodeling in other parts of your home or gardening, are never deductible. So, your ability to deduct an expense when you’re self-employed depends on whether it benefits just your office (such as carpeting and wall paint) or your entire home (such as power and water).
Also, remember that business expenses unrelated to your home office—such as marketing, equipment, software, office supplies, and business insurance—are fully deductible no matter where you work.
If you qualify for the home office deduction, there are two ways you can calculate it: the standard method or the simplified method.
The standard method requires you to determine the percentage of your home used for business. You divide the square footage of the area used for business by the square footage of your entire home.
For example, if your home office is 12 feet by 10 feet, that’s 120 square feet. If your entire home is 1,200 square feet, then diving 120 by 1,200 gives you a home office space that’s 10 percent of your home. That means 10 percent of the qualifying expenses of your home can be attributed to business use, and the remaining 90 percent is personal use. If your monthly power bill is $100 and 10 percent of your home qualifies for business use, you can consider $10 of the bill a business expense.
To claim the standard deduction, use Form 8829, Expenses for Business Use of Your Home, to figure out the expenses you can deduct and then file it with Schedule C, Profit or Loss From Business.
The simplified method allows you to claim $5 per square foot of your office area, up to a maximum of 300 square feet. So, that caps your deduction at $1,500 (300 square feet x $5) per year.
The simplified method truly is simple because you don’t have to do any record-keeping, just measure the space and include it on Schedule C. It works best for small home offices, while the standard method is better when your office is larger than 300 square feet. You can choose the method that gives you the biggest tax break for any year.
But no matter which method you choose to calculate a home office tax deduction, you can’t deduct more than your business’ net profit. However, you can carry them forward into future tax years.
As you can see, claiming tax deductions for your home office can be complicated. I recommend that everyone who’s self-employed use a qualified tax accountant to maximize both home office and business tax deductions.
Yes, professional advice costs money. But it’s well worth it, and it usually saves money in the long run when you know how to take advantage of every legit tax deduction.
If you own an investment property (bravo, by the way!) and are looking for a new tenant, brush up on the following must-know facts.
The post Trying To Find a Renter? How To Show Your Apartment and Make a Great Impression appeared first on Real Estate News & Insights | realtor.com®.