Are you struggling to pick a niche for your virtual bookkeeping business? I hear so many of my peers asking, “How do I pick the ‘right’ niche?”, or “What is the most profitable niche?” Honestly, until recently, I thought that I had enough of a niche, by specializing in QuickBooks Online. But, after taking some […]
Archives for May 2020
What Is Earned Income?
When you own or work for a business, you receive earned income. But, not all income is earned income. Both business owners and employees should understand what is earned income to determine tax liability and tax credit eligibility. So, what is it? What is earned income? Earned income is the total taxable compensation (e.g., wages […]
Running a new business through a global shutdown
Perth Bookkeeper Darren Law started his business almost one year ago. We Zoomed in to find out what it’s like to whether a global pandemic when you’re in a new business. FCA: What made you want to start your own business?Darren Law: I’ve worked in small business for over 20 years, to be honest, I […]
Google, Gates Foundation join digital payments initiative for developing markets
A new nonprofit charity unveiled plans Wednesday to promote digital payments for people outside the financial system, with support from Google and the Bill & Melinda Gates Foundation. The Mojaloop Foundation said it would work on free and open-source software that can be used by disadvantaged communities and the unbanked around the world. The initiative […]
Peloton: The latest virus panic buy
By Erin Griffith Lauren Allbright, a teacher, children’s book author and triathlete, was antsy from weeks of sheltering in place. So last month, she “panic bought,” she said, a $2,245 Peloton bike. It was a “pricey decision,” she acknowledged. But her gym was closed, and it had been raining nonstop in Richardson, Texas, where she […]
Kitces & Carl Ep 33: Triaging Clients Efficiently Through Critical Financial Care
Executive Summary As the Coronavirus pandemic has caused significant economic disruption around the world, financial advisors have been faced not only with the daunting challenge of not only how best to stay abreast of the rapidly evolving legislative landscape offering assistance to individuals and businesses in need of financial relief but also in how best […]
Amazon partners with BMC to deliver essentials in Mumbai’s containment zones
Amazon on Thursday announced its partnership with the Brihanmumbai Municipal Corporation (BMC) to enable delivery of essential items to the city’s residents stuck inside containment zones. The e-commerce giant said it will start allowing customers staying in containment zones across the city to place orders. This comes after the online retailer piloted the services successfully […]
Investors back UK in March as £10bn exits funds
UK funds bucked a £10bn flight from retail investment funds in March as the Coronavirus hit markets around the world. The UK was the best-selling equity fund region in March, with net retail sales of £747m but all other equity regions invested in by UK investors experienced outflows in March. Latest figures from the fund […]
Forum launches regulatory timetable grid early
The Financial Services Regulatory Initiatives Forum has brought forward the launch of its Regulatory Initiatives Grid to today. The grid provides a roadmap of future regulatory reviews and changes to allow firms to plan better. The Grid was announced by Chancellor Rishi Sunak in March’s Budget. It was planned to be launched later in the […]
Connected devices have a key role to play in an era of pandemics
Technology has a history of helping to track and treat viruses. And, with the World Health Organisation (WHO) declaring COVID-19 a global pandemic, people are rightly asking themselves how new technologies such as the Internet of Things (IoT), artificial intelligence (AI), and Big Data can be employed to slow down the proliferation of pandemics and […]