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5 EASY Ways to Improve Your Life in The New Year

CMMA Blog

There are scores of folks getting ready to join CrossFit, go vegan, or relocate in an attempt to make some drastic, life-altering changes in the New Year. That’s not what we’re doing here. We’re talking small. We’re talking manageable. We’re talking low commitment with BIG results. To finish out 2022, we’re talking about some things you can do to improve your life without getting a gym membership or a moving truck.

  1. Learn a Skill: Whether you want to up your game in your career with some basic coding skills, learn how to garden, or try your hand at improv, you have several options. SkillShare  and International Open Academy  have a wide range of classes for everything from graphic design to herbalism. MasterClass has the most recognizable instructors and the highest production value.
  2. Start a Hobby! In addition to being a therapeutic outlet, having a hobby can reap benefits in your career ! While there are of course paid classes where you can dig deep to learn new skills, you can get the benefits of so many hobbies by simply taking to YouTube or getting a library book or two.
  3. Daily Gratitude Journal: You don’t need anything fancy here. You can simply use the notes app on your phone or  write out a list of things you’re grateful for in a basic journal. If you want a little more structure or a daily reminder, there’s an app for that! There are many apps that will provide prompts and exercises to help you get to a grateful state of mind and there is cold, hard science to back up the benefits.
  4. Walk it Out: We’ve heard a lot about the benefits of getting into nature, getting exposed to sunlight, and exercising, so if you’re ready to commit to a regular practice of getting outside to do all of the above, then great! Still, you don’t even have to go outdoors to reap some of the benefits of walking regularly . You can just take a few laps around your office building or up and down the stairs. It’s a low-commitment way to get some of the benefits.
  5. Invest in Your Financial Literacy: Whether you want to get a better handle on your budget or just learn more about investing, these apps can help. In keeping with the “easy” theme, we’re not talking about putting yourself on an austerity budget or tracking where you spend every penny. While some of these apps can do that should you choose, you can also just take steps toward greater financial literacy by playing games. Easy, right?

The Bottom Line

Major New Year’s Resolutions have never worked for me. They’ve always turned into a source of frustration a few weeks (maybe even days) after a fired-up start. But small changes? I can do that. They’re much more sustainable and they can make a big difference. Sometimes they even snowball into bigger changes. Here’s to the coming year!

The post 5 EASY Ways to Improve Your Life in The New Year appeared first on PayReel .

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Itching For Something New? These States Offer Relocation Incentives

CMMA Blog

Do you ever get a little antsy about your life and find yourself wanting to change careers, remodel your house, or even cut bangs? In certain ways, it’s getting easier than ever to scratch that itch by getting a change of scenery without having to establish a new career. Between the increase number of self-employed folks and those with traditional roles that have recently turned remote, people are working from home in record numbers! This study predicts that the trend will only continue, with almost a quarter of the American workforce working remotely within two years. While some enjoy the traditional office environment, this study shows that 60% of employees find an out-of-office work life aspirational. That, in combination with the 46% of workers looking to change jobs in the coming year means a lot of us might be spending some time daydreaming on Zillow. Some states are willing to put up some cash to get you to consider making their location home.

3 States That Will Pay You to Relocate

The requirements vary a bit from place to place and you’ll need to make sure you qualify. For example, you may need to bring your own remote job and stick around for a minimum amount of time. Their incentives range from straight up cash to housing assistance and even office space.  Whatever you’re looking for, there might be something here to help you with a new start.

Vermont

If you’re ready to brave mud season and get a good dose of their famous Fall colors just heading out to the supermarket, consider Vermont. There, you could get a $7,500 grant if you’re selected for their relocation incentive program .

Iowa

If you could use some Midwestern hospitality in your life, head over to Newton, Iowa, where you’ll get big-time support buying a home if you qualify for their housing initiative  (rhubarb not included).

Oklahoma

You’ll be blown away by Oklahoma’s incentives. Duncan offers $4,000 to new arrivals through its talent relocation initiative  while Tulsa is luring folks with $10,000, free work desk space, and more with their Tulsa Remote program.

The Bottom Line

If you’re among the many folks looking for a change, you may as well consider the states that are incentivizing folks to bring their talents (and their remote incomes) to their locations.

The post Itching For Something New? These States Offer Relocation Incentives appeared first on PayReel .

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1099-K Requirements Are Changing: Here’s What You Need to Know

CMMA Blog

The American Rescue Plan Act of 2021 changed the way businesses report income from payment cards and third party network transactions such as Venmo and CashApp.

Here’s What You Need to Know

Which Transactions Qualify?

Any payment after December 31st, 2021 is subject to the new rules, which indicate that a threshold of $600 in aggregate payments (with no minimum transaction requirement) will trigger the need for a 1099-K. Since it only applies to third-party network transactions for the provision of ‘goods or services,’ personal transfers/gifts and reimbursements do not qualify. The policy does not represent a change to the taxability of income, according to a release  from the IRS, which notes that “All income, including from part-time work, side jobs or the sale of goods is still taxable.”

While this form applies only to business transactions, it’s possible to mistakenly receive a 1099-K for a non-business transaction. If this happens, you can contact the issuer directly to address the error.

Tips to Make Tax-Time Easier

1099-K payments belong on a taxpayer’s Schedule C along with business expenses/deductions. Keep all your personal and business transactions separate from each other, including 1099-K earnings.  Keeping separate banking accounts and credit cards will make tax time a lot easier. This, along with keeping careful records and maintaining receipts, is also beneficial should you ever face an audit. Having transactions separated will keep you from breaking your brain trying to retroactively parse out expenses on your credit card statements. Credit card statements are not considered sufficient records to the IRS. To that end, keep receipts for any business expenses you plan to deduct.

The Bottom Line

The threshold has changed and you may be seeing a 1099-K that you weren’t expecting. Report it properly and you’ll be good to go!

The post 1099-K Requirements Are Changing: Here’s What You Need to Know appeared first on PayReel .

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