Money tips news roundup – Protect your savings from future tax hikes
The end of the current tax, or fiscal year, is approaching fast on 5th of April, so not long to make your final plans.
This is the time of year when you should be thinking about using up all of your tax allowance before they are lost forever.
- ISA’s – tax free savings accounts
- Pension Contributions
- Marriage allowance – not always claimed
- Tax relief for working at home
Talk to an accountant or independent financial advisor for more advice. It could save you thousands!
In the budget, the Chancellor announced that tax allowances are being frozen, which means that more lower paid people will start paying tax and middle earners will be pushed into higher rates.
The phenomenon known as Fisco drag means that in the next few years over 5 million people will pay higher rates of tax.
This will affect your savings interest, dividends and rental income. The more you can put into a tax-free environment, like a pension or ISA, the better you are protecting your money from the taxman.
Tax rates on corporations or limited companies will also increase, which means that property investors with their properties in limited companies will pay higher rates of tax. Ironically, many investors moved their properties into a limited company is to avoid paying higher rates of tax as a sole trader. The taxman gets you one way or the other!
President Biden has started splashing the cash with a mind boggling $1.9 trillion financial stimulation package to boost the US economy.
Where does all this money come from you may ask? Thin air! They make it up and just print it! Someone will eventually have to pay it back but politicians in western democracies usually only think as far ahead as the next general election – or the one after that. Politicians in China, however, plan decades ahead.
China is playing the long game and increasing its influence all over the world. It’s economy grew by over 8% last year, while the UK suffered the worst recession in 300 years and borrowed nearly £300 billion.
With economies gradually opening up, businesses are looking forward to a brighter summer this year.
Interest rates are low and people who have remained in work have more money in the bank due to savings on travel and so on. Lower paid and self-employed workers are not so well off and have suffered badly during the lockdown.
Despite the optimism, unemployment rates have rocketed and thousands of businesses have gone forever. I believe it will take years before the country really bounces back from the unprecedented worldwide shutdown.
Unlike physical businesses, such as shops and restaurants, online businesses have been booming during the pandemic.
Right now has never been a better time start a business selling products and services online – especially if you need extra money
How To Start A Money Making Business From Home Without Capital Or Risk!
With pubs and restaurants closed for the lockdown in the UK and Ireland it’s a reminder of how vulnerable physical businesses, like pubs, restaurants and shops are to economic downturns or market changes.
At the same time, internet business owners are getting richer. Never in history has more goods been bought on the internet.
Even before the pandemic, the high street was already under pressure from online shopping, which has exploded in the last few years.
High rents, taxes and competition from the likes of Amazon and Shopify have driven large retailers, like Debenhams, out of business and forced John Lewis to start closing 70% of its 50 plus stores in the UK.
How does this help you get started online?
The internet has given small home-based businesses an opportunity to compete with the big companies which have dominated the market. They took the best sites in the high street and malls, and often drove small retailers to the wall with massive advertising and undercutting. Fortunately, this has now changed and that’s how you can benefit from the online bonanza.
You can now set up a risk-free online business or store – from home in your spare time – and sell to a potential market of 5 billion people browsing the internet every day looking for solutions to their problems.
You no longer need to rent a shop or premises and pay high taxes and bills before you make a penny. And you don’t have to quit your job until your business income exceeds your salary.
Here are 3 simple steps.
Sell solutions to people’s problems
Research your idea or product online – where else! You can check on Google how many people are searching for products or solutions to their problems. For instance, millions of people want to be slimmer and healthier, especially in these times. According to wordstream 450,000 people have recently searched for “how to lose weight” on the internet. Other ‘keyword’ searches like “diet” and “lose weight fast” had similar results. That’s just one niche!
You can literally find out how many people are searching for keyword solutions by checking on Google and specialists like Wordstream and Mondovo absolutely free. Market research like this was previously only available to large companies with large budgets. Now you can access it for free.
You can get up and running with your online business website today for free with GrooveFunnels. For more information…click here
Set up your online business today
Set up an online business selling products that people are looking for (not what you think the market needs), or sell to people online from your existing business, by setting your website online today. You don’t need to pay a designer or software engineer to set up a website, as there are readymade templates and off-the-shelf website pages to get your business started today. In the past, I have spent tens of thousands on websites because they had to be designed and built from scratch, which took months. Fortunately, you don’t have to go through this pain.
You can now build a simple website for free using GrooveFunnels template pages and built-in shopping cart checkout facilities with a click of a button. GrooveFunnels is offering free lifetime access for a limited period only – no credit card required to open and start using your free account. For more informationhttps://groovepages.groovesell.com/a/uy9VcdqIvopT, click here
Now decide what you are going to sell and how and GET STARTED!
Decide what niche you want to be in and what you want to sell. Unless you already have your own products and business (which you may want to change based on your new research on what people actually want) you can start by selling other people’s products and services for a generous commission of between 10 and 50%. This is essentially how some of the biggest companies in the world make billions in profits.
Booking.com and Airbnb do not own their own hotels and Amazon helps millions of small retailers and authors sell online for a commission.
If you want to start earning cash today, GrooveFunnels will also pay you a commission to recommend their fantastic free software to your friends, colleagues and customers when you open your free account. Find out how to earn money
Here’s the best part. It’s risk free and no capital investment required! No re-mortgaging your house and borrowing thousands or risking everything to open up a physical business. And you can get started right away. What have you got to lose?
- One final thing…this free lifetime access is on offer for a limited period only.
GrooveFunnels only plan to keep this offer open for a short while and will soon start charging at least $99 dollars per month to access the same package you can get for free for life – NO credit card needed…FREE LIFETIME ACCESS.