Month: September 2020

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11 Work From Home Jobs That Are Growing During COVID

The pandemic accelerated our shift to virtual platforms. Work from home jobs are now more popular than ever before.

Businesses all over are pouring resources into creating a stronger online presence. Online retail sales have spiked by 31.8% for the first quarter of 2020. The Web is our source of entertainment, socialization, romance, and more. Our use of the Web for business and everything else will only increase as it becomes the “new norm” we’re hearing about.

Now is the perfect time to work from home and/or start a web-based business.

Are you interested in being at the forefront of this radical shift to virtual platforms? Get ready! What you’re about to discover is a collection of legit work from home jobs that are sure to become rewarding opportunities.

1. Virtual Assistants are Entry Level Work from Home Jobs

A virtual assistant is an individual that does tasks for someone for a set rate or fee. These tasks are digital, hence the “virtual” part of being an assistant.

Virtual assistant work from home jobs can include (but not limited to):

  • Answering emails
  • Customer service
  • Data entry
  • Social media management
  • Scheduling
  • Moderation

The only limitations are how much control the person hiring the virtual assistant decides to give them.

There aren’t many obstacles to overcome when searching for virtual assistant jobs:

  1. Figure out what you’re good at
  2. Look and apply for virtual assistant jobs
  3. Deliver a great experience

Your pay depends on the complexity of what’s needed from you, ranging from minimum wage to $20-$30 an hour.

2. Teacher/Tutor can be Part Time Work from Home Jobs

Online teaching is a rewarding job both intellectually and financially.

There is no limit to the number of people wanting to learn new things. Your students can include anyone from school kids to foreign adults. Your topics can be anything as long as you can convey the concepts clearly.

Try exploring this opportunity on platforms like:

  • Tutor.com
  • VIPKid
  • Thinkster
  • Preply

Or compile your knowledge and sell it as a course on sites like:

  • Teachable
  • Udemy
  • Skillshare

You could also offer one-on-one education, too. All that’s needed is patience for teaching and a computer + webcam.

3. Web Developers are Good Online Work from Home Jobs

About 36% of businesses don’t have a website. While shocking, it means there is a lot of opportunity for business!

Being a web developer gives you access to a HUGE market.

The basics of web design are often enough to land a few jobs. From there, you could build a portfolio and reach out to businesses looking to build an online presence. Land a couple of monthly retainers and you’ve got a nice online income!

Basic working web development could get you building:

  • Small business websites
  • Personal portfolios
  • Simple shops
  • Blogs

A more advanced skill set could have you working on major site projects.

You can charge by the hour or by the project. Or you could work at a design agency or a massive corporation. The demand for website design is huge. The best part is that all of the work can be done from the comfort of your home.

4. Online Marketing are Real Work from Home Jobs

What goes hand-in-hand with site creation? The site’s marketing.

An online marketer’s role varies but tends to include:

  • Email marketing
  • Content marketing
  • Social media marketing
  • Search engine marketing
  • Paid media/advertising

Try this marketing job pipeline:

  1. Build a few sites and learn the basics of marketing
  2. Continue learning and explore industry certifications
  3. Go freelance and/or small agencies to expand your skills

The path to becoming a marketer could include a degree but most of the time you can learn it on your own. What matters in the industry is your ability to produce returns. Make a business good money and they’ll keep paying for your services!

5. eCommerce Specialist

An online store is a huge asset for businesses (especially now).

Getting good at eCommerce puts you in a stellar position for this huge shift to the Web. The beauty is that you’ll learn website development and marketing along the way. Your push into this space means you’re offering a 3-for-1 skill set!

What better way to become an expert than by starting an eCommerce business?

Learning as you go means two things:

  • You’re building an asset that could make you money
  • You’re learning valuable skills that you could offer as services

Learn as much as you can about the various eCommerce platforms and carts. Or specialize and charge extra for your heightened expertise. This is another great opportunity where all of your work is done with a computer and reliable internet.

6. Software Engineer/Programmer

Becoming a programmer is going to take time but the rewards are massive.

Every industry is touched by technology. Every business needs some software tools to function. Therefore, being a programmer opens an opportunity where you can work basically anywhere you want!

There’s no “best” programming language — pick one and roll with it:

  • Python
  • Java
  • PHP
  • C++
  • Swift
  • Go
  • Ruby

If you can wrap your head around one, then you can likely pick up the others. This knowledge combined with certifications and experience creates a lucrative career path.

Get started with free programming courses, then specialize down the road.

7. Bookkeeping are Data Entry Work from Home Jobs

You’ll never have trouble finding opportunities in bookkeeping and payroll services. These are popular, recession-proof type jobs. You could find yourself doing data entry work from home jobs for bookkeeping at a small business.

Or, go to school, become certified, and work for a large corporation handling their books. The more you put into the career path the more it gives back. Bookkeeping is almost all cloud-based these days so that means working from a comfortable home office!

Tools you’ll likely learn/use include:

  • QuickBooks
  • Wave
  • Xero
  • Zoho Books

Each tool and service offer a bunch of training courses and guides for you to learn from. Otherwise, you could get a degree or use an online course to get into the industry. You could work by the hour or set your own rates as a freelance bookkeeper. Have a look in your area on Indeed.com and, no doubt, you’ll find jobs!

8. Translator

Know a second language? You’ve got a good work from home job!

Our interconnected world means globalized business operations. Because of this, companies want to expand into new, foreign markets. They need people who know the language to break through that barrier.

Besides business translation — you could be a:

  • Tutor
  • Interpreter
  • Speaker
  • Content creator
  • Researcher

Don’t know a second language? There are plenty of free resources for learning one!

A salary for translation services can fetch $45K a year on average. Specializing in areas such as business translations will see this salary increase. Most, if not all, of the daily duties, get done via online.

9. Sales Agent/Manager

Every business needs a sales professional. The demand is only going up and up as more use the Web as their main avenue.

Sales roles vary in complexity but pay pretty well on average plus there are usually bonuses. It’s a role that turns into whatever it needs. So, those good at it can see themselves in just about any industry if they’re committed.

Most of the skills required for this role include:

  • High school diploma or GED
  • A willingness to learn and adapt
  • Some sales experience

If you’ve ever done a retail job, then you’ve already got a foot in the door. The rest is just learning what is required of the job. Plus, you will be working in front of a computer. Go on any platform listing remote work from home jobs and sales reps will be there. Read through the endless list of job openings and find something that interests you!

10. Content Creator

We are in the golden age of content creation and creativity:

  • Platforms offer ways to make money via ads and impressions
  • Businesses want to work with influencers and creators
  • People enjoy buying unique items from those they follow

Buying stuff online and supporting content creators isn’t a strange thing anymore. There are platforms and audiences for everyone. Make something great and you can create a following that supports your work!

Try things like:

  • Making crafts and selling it on Etsy
  • Recording videos and uploading them to YouTube
  • Playing games in front of an audience on Twitch
  • Shooting short videos and engaging people on TikTok
  • Showing off cool stuff and experiences on Instagram

Being a content creator isn’t a guarantee to make money. But it’s something you can do on the side while working one of the other works from home jobs. If it does take off, then you could make it a full-time job!

11. Customer Support Specialists are Good Work from Home Jobs

Like the sales role — businesses need people to handle customer service. There’s a low barrier to entry, too. And you can find roles in businesses and industries you enjoy. You get to help others with things you enjoy doing!

What do you need to become a Customer Support Specialist?

  • A computer
  • Good internet connection
  • A headset

Some experience in customer service or retail sales helps. Don’t stress the experience, though, since they’ll train you regardless of what you already know.

Pay ranges from minimum wage if it’s super easy wok to ample salaries for more complex work. Bring some extra skills to the table to increase your value to the company and salary.

The New Norm and Searching for Legit Work from Home Jobs

We’re living in a brave new world.

The pandemic is teaching us a lot about ourselves and our routines. We’re beginning to see that we’ve been stuck in the past. Now’s the time to push forward.

We all need to adapt to this new work from home lifestyle. This could be the prime opportunity to explore that career you’ve always wanted. Or, finally, start that business lingering in your mind.

Wherever you’re going — know that Your FundingTree LLC is here for you. We make accessing business loans and services a breeze. We connect you with the very best industry-specific lenders and service providers.

Our process is streamlined, and our team is the best in the business. Contact us online, call us at 704-904-0774, or simply apply now.

W2 vs W4 – Discover the Different Types of IRS Tax Forms

For the majority of Americans, tax season begins at the end of January. At this time, tens of millions of people are receiving a Form W-2 from their employer.

Receipt of the W-2 form, and other documentation allows individuals and businesses to file their income taxes for the year. The U.S. Internal Revenue Service (IRS) then processes over 250 million tax returns per year.

While receipt of the W-2 form is the unofficial start to each tax season, the Form W-4 is equally important. Read on to learn about W2 vs W4. Explore the differences between these two IRS tax forms and why they are necessary for paying income taxes.

What does a W-4 Form?

The Form W-4 truly kicks off the federal income tax process. This form lets your employer know how much of your paycheck to withhold for taxes.

The calculation depends on a number of variables that affect your annual tax return. For example, are you single or considered a head of household?

Another important question for the W4 is whether you are married or have children. The IRS provides tax relief in the form of credits for children and dependents. By claiming them on a W4, you can reduce the tax withholdings from your paycheck.

The Form W-4 also provides guidance if you work multiple jobs. With some married couples, both people work and earn income. If this is the case, the instructions provide a worksheet for calculating tax withholdings.

Another important section of the W4 covers deductions. Not all tax filers use the standard deduction.

Some individuals make large donations or pay significant mortgage interest. Other filers have student loan interest or pay high state and local taxes. The W-4 form allows the withholding amount to be adjusted for these scenarios.

What Changes Were Made to a W-4 Form?

The W-4 form is not the same as it was a few years ago. In the past, you had the option of claiming allowances for dependents. The more allowances you claimed, the less your employer withheld in taxes.

However, the IRS moved away from this process when the Tax Cuts and Jobs Act (TCJA) passed in December 2017. For the vast majority of Americans, the TCJA resulted in an income tax cut. However, many tax filers were surprised to see that their 2018 and 2019 refunds declined.

This was because the IRS changed the W-4 form and how withholdings were calculated. Instead of basing tax withholdings on the number of allowances claimed, the IRS used existing data. They leveraged off of W-2 forms, prior tax filings, and other pertinent information.

Are You Required to File a W-4 Form With the IRS?

In the past, employers used to routinely submit W-4 forms to the IRS. This is no longer true after the passing of the TCJA.

Now, employers only need to file a W4 if they receive a written request from the IRS. This occurs when the IRS wants to ensure that adequate withholdings are made. It is largely used as a mechanism to prepare employees for tax season.

What does a W-2 Form?

The Form W-2 is a wages report that your employer files with the federal government. They are required to send you a copy, as well as to the IRS and the Social Security Administration (SSA). It is a federal law that the W-2 form for the prior tax year is provided to employees by the end of January.

There is a lot of financial data reported on the Form W-2. This data is used to complete your federal and state income tax returns. Continue reading for a breakout of the information found on a W-2 form:

Wages

Wages reported on the W-2 form are the most important information for your annual tax return. This includes hourly wages, tips, and bonuses.

There are other wages reported on the W2 such as state, local, and Social Security wages. Your federal wages in box 1 of the W2 may be lower than other wage reporting due to income exempted from taxes.

Taxes Withheld – W2 vs W4

Here is where your link between the W2 and W4 occurs. In boxes 2, 4, and 6 you will see the various taxes that are withheld from your paycheck. Box 2 is federal income taxes withheld during the year. This amount is directly correlated to the information provided on the Form W-4 discussed above.

The federal government also withholds taxes for the Federal Insurance Contributions Act (FICA). FICA covers the government entitlement programs of Social Security and Medicare.

Each time you receive a paycheck your employer withholds taxes to fund these programs. When you retire and reach a certain age in the future, your contribution to these programs ends and you are given access to their benefits.

For Social Security, your employer withholds 6.2% of your earnings. On the other hand, Medicare’s withholding rate is 1.45%. These rates are applied to the first $137,700 that you earn.

You may be hit with an additional 0.9% withholding for Medicare if you earn more than $200,000. At the bottom of the Form W-2, you will see state and local taxes. The amounts vary based on which state you reside in, but some states do not have an income tax.

Other Deductions for W2 vs W4

There are other deductions that are important for tax filing. For instance, employees may contribute to a Roth 401(k) retirement account. Box 12 of the W-2 form would cover this.

Box 12 covers various different paycheck deductions. Two examples are nontaxable sick pay or reimbursable moving expenses for enlisted military.

Another important section of your W-2 form is box 14. This section includes withholdings like health insurance premiums and state disability insurance taxes. These items may be deductible on your tax return.

Why is this W2 vs W4 Discussion Important?

If you want to be in control of your finances, it is imperative that you understand W2 vs W4 and know the difference between the two. The last thing that you want is to be left unprepared for tax season.

The Form W-4 is the means to ensure adequate withholdings are taken from each paycheck. The Form W-2 wraps up the process and allows you to file a tax return.

If you have more questions about this W2 vs W4 discussion, contact us today for a consultation or explore our blog which has additional articles about IRS tax forms.

What Is Work in Process (WIP)?

Are you looking for ways to improve your company’s manufacturing process? If you’ve never heard of the term “work in process”, you may be wondering what the difference between work in process and work in progress are.

By identifying the differences between these two manufacturing terms often referred to as WIP, you will maintain a constant WIP level within your business.

Today, we’ve created this complete guide to help you understand the importance of work in process inventory. We also tell you why you need to know the difference between work in progress and work in process inventory. Keep reading to learn more!

What Does Work in Process Mean?

The term “work in process” refers to goods that have been partially completed. You may have also commonly heard these types of goods referred to as goods in process.

Work in process inventory is that which has entered into the manufacturing process but isn’t included in the inventory of raw materials. However, this inventory is yet to be considered a finalized product.

When someone is referring to work in process products, they’re identifying the products that have moved from raw material to a completed product in a short period of time.

What Is the Difference Between Work in Process Versus Work in Progress?

A work in progress is the term used to refer to assets that require a large amount of time to be completed. One example of a work in progress project would be a construction project.

You can find work in progress inventory on the balance sheet of the manufacturer. You should be able to identify the material, direct labor, and the manufacturing overhead of work in progress items.

What Is WIP?

Both work in progress and work in process are commonly referred to as WIP and is one of the items that you will find on a balance sheet. This figure will identify the value of the products that are in the intermediate stage of production. However, you won’t find the real value of any materials that haven’t been incorporated into the intermediate production stage.

Also, work in progress will also exclude the value of any finalized products being held in inventory. Many companies attempt to eliminate or reduce their work in progress inventory. This elimination is completed near the end of the reporting period to help make accounting a lot simpler.

Without having to account for work in progress products, the assets that a company has will be raw materials or finished goods. This process makes it a lot simpler for accounting.

How Do You Calculate Work in Process?

Calculating work in process is essential for any company, as it tells investors how much a company has in production. Potential investors will be able to total the number in production and compare it to the finished goods a company has available. Investors will also be able to determine what the cost of goods sold for each quarter to identify if a company is a good investment not.

Breaking Down Overhead Costs

The first step that needs to be taken to calculate work in process is to break down all the costs that come with manufacturing. All of these costs will not directly be related to manufacturing but still play a vital role in how much profit a company is expected to see.

Some of the things that you may want to consider adding into overhead costs include:

You may need to hire an accountant to help you calculate these overhead costs and to make sure your numbers are accurate.

Breaking down the work in process formula is important for inventory management. By counting the goods that are in the work in process stage, a manufacturer will have a better and more accurate idea of how much additional inventory needs to be produced.

In addition, it will also give the manufacturer an estimate of expected production necessary to meet demand for the current quarter as well as the next quarter.

Why Does Work in Progress Matter for Work in Process?

Work in progress is in the middle of your manufacturing process. It is the determination between your raw materials and a finalized product. While work in progress inventory doesn’t mean as much as the finished goods for your sales prices, it does mean that it’s worth more than any raw materials that your business has.

Looking at the bare work in process numbers that you have won’t tell you much if you also don’t look at your work in progress statistics. Identifying changes in your work in progress will outline any important information about your company.

Some of the information that you will be able to gather by looking at your work in progress statistics includes the number of orders that have been received and how long it takes your company to get its finished products to its customers.

Identifying these numbers will help you to get a better understanding of your production process and if it could benefit from any improvements made to it. Another thing that you will be able to identify from these numbers is if you need to hire additional labor to help keep up with demand. You may find that you also need to raise your working capital to help keep up with the costs of an increase in demand.

Understanding the Importance of Work in Process Inventory

By identifying the difference between work in process inventory and work in progress inventory, you’ll help to improve your company’s production capabilities. Both of these terms are listed on a company’s balance sheet. You will get a better idea of what inventory has moved from raw materials into a finalized product.

Are you interested in learning more about increasing your cash flow and better understanding your company’s finances? We’re here to help you. Click here to apply today!

How to Get a Patent

If you’ve got a brilliant idea or invention that you’ve been keeping under wraps, you may want to get a patent to protect your intellectual property. While applying for and getting it can be a lengthy process, the final result is more than worth it. Getting your product or startup off the ground could start with an approved patent, and the sooner you get started, the sooner you can enjoy the benefits. Let’s explore how to get a patent and what steps you’ll need to take to secure your invention.

How to Get a Patent

Understanding how to patent an invention begins with a little self-understanding. If you’re not completely comfortable with your invention, you’ll likely struggle throughout the patent application and approval process.

However, if you’re bursting with passion and ready to share your new product or business idea with the world, you may be ready to get a patent. The first thing you’ll need to do once you’ve decided to get a patent is to find your notes.

1. Keep Your Notes

When you’re in the throes of innovative passion, you might begin scribbling on anything and everything. Coffee-stained napkins could become precious epiphany points, and the backs of cardboard boxes may be a partial thesis statement.

Hopefully, the majority of your notes concerning your idea and invention are still present and fully intact. This evidence could help prove the origin of your product or idea in the future, so it’s crucial to have it on-hand.

2. Decide What You Need

Not all forms of intellectual property qualify for a patent. Understanding what can be patented and what cannot be is the first hurdle you’ll need to leap across. Generally, a patent can be applied to:

  • Industrial Processes
  • Machines
  • Manufactured Articles
  • Crafted Chemicals

However, a patent can only be applied to one of the above items if the patent office concludes that the invention is both “new” and “useful.” This vague language can make it challenging to determine your initial eligibility.

Still, there are other ways you can check to see if you qualify for a one.

3. See If You Qualify

Now might be a good time to perform a patent search. If someone else has already patented your idea, you need to know sooner rather than later.

Spending months laboriously crafting a working prototype and preparing your application only to find out that your invention already exists can be a soul-crushing experience.

If you’re not familiar with patent searches, you could choose to enlist the help of an attorney. Doing so just might save you time and several weeks of frustration.

4. Create a Prototype

Once you’re certain that your invention is one-of-a-kind, you can begin creating your prototype. Depending on the nature of the invention, you may require some startup capital to help you cover expenses.

You may want to consider applying for business funding in the early stages of prototype development. More funds to invest in your prototype could result in an expedited application process.

5. Do Market Research

Before you put your final touches on your invention, it’s essential to perform a little targeted market research. If you’re not sure who your product or invention is for, you may be in trouble. Understanding consumer trends can help you immensely.

If you’ve been searching for the right audience for your product, an advertising executive or marketing specialist may be able to offer you some sound advice. You could also choose to take an online course on market research.

6. Find Out if it is Patentable

When you’re confident in your prototype and your research, you begin the process of deciding what kind of patent you might need. There are three basic categories to familiarize yourself with. They are:

  1. Design
  2. Plant
  3. Utility

Design patents are awarded to those who create innovative product designs. Plant patents are for individuals who have invented or discovered new plant life. The majority of patents are utility patents.

Unless you’re a trendsetting fashion designer or an exceptionally interesting botanist, your invention likely falls under the utility category.

7. Double-Check Current Patents

It’s probably been several weeks or months since you’ve performed a patent check. Someone may have patented your idea within that period. Go ahead and double-check for duplicate patents of your product.

8. Prepare to Apply

Preparing to apply for a patent can be one of the tensest and exciting parts of the entire process. Applications consist of several different forms, fees, and additional documents.

Getting all of the necessary paperwork together in the right order can feel like a challenge. However, handling each form slowly and calmly can help you avoid panic and do a fantastic job with your bustling pile of papers.

If you haven’t already applied for some essential funding for your business, you may want to take a moment to consider your financial options.

9. Submit Your Application

Once you’re certain that your application is correct and complete, you can send it off. You can do this via traditional mail or via an online application.

Now you must patiently wait until your first correspondence from the United States Patent and Trademark Office (USPTO). Hopefully, you won’t receive a notice informing you that your application requires edits or additional documentation.

10. Receive a Patent Examination

If it makes it past the initial application phase, it is transferred onward to an examiner. This person will review your application and included documents. They may reject your application and allow you to apply later.

Or they could approve your patent. Scheduling an interview with your examiner may help you explain your invention with more clarity, potentially increasing your chances of approval.

11. Gain Patent Approval

When the examiner is fully satisfied that your invention meets all the requirements of your chosen category, they will award you with a patent for that invention. You should take a moment to celebrate your momentous success.

12. Maintain Your Patent

After your patent has been approved, you’ll need to maintain it. Patents must be maintained at least once every four years, or they expire. However, you could choose to pay maintenance fees that secure your patent for up to twelve years.

Patent Your Invention Today

If you’ve got a great idea for a world-changing product or invention, then you should share it! But only after you’ve patented your idea, of course. Otherwise, you may find that your grand idea becomes someone else’s wild success.

Now that you know how to get a patent, you could meet with influential inventors and get your foot in the door. Once you’ve made an impression with your new and notable invention, you might be the one to fund upcoming business opportunities.

If you enjoy this article, then check out this related article concerning small businesses!

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