Magnolia News | Business Blog

FinCEN Alert on Fraud

Wed, 08 Jan 2025 22:16:27 GMT

FinCEN Alert on Fraud Schemes Abusing FinCEN’s Name, Insignia, and Authorities for Financial Gain

Alert: FinCEN has learned of fraudulent attempts to solicit information from individuals and entities who may be subject to reporting requirements under the Corporate Transparency Act.

These fraudulent scams may include:

Correspondence that references a “Form 4022” or “Form 5102” is fraudulent. FinCEN does not have a “Form 4022” or a “Form 5102.” Do not send BOI to anyone by completing these forms.
Correspondence or other documents referencing a “US Business Regulations Dept.” This correspondence is fraudulent; there is no government entity by this name.

Please be on the lookout for anything that may indicate correspondence you receive is fraudulent. For example, be cautious of any of the following:

Correspondence requesting payment. There is NO fee to file BOI directly with FinCEN . FinCEN does NOT send correspondence requesting payment to file BOI. Do not send money in response to any mailing regarding filing your beneficial ownership information report that claims to be from FinCEN or another government agency.
Correspondence that asks the recipient to click on a suspicious URL or to scan a suspicious QR code. Those e-mails or letters could be fraudulent. Do not click any suspicious links or attachments or scan any suspicious QR codes.
Correspondence regarding penalties. FinCEN does NOT send initial correspondence regarding CTA penalties via e-mail or over the phone. Do not submit payments via phone, mail, or websites as requests/directions to do so are fraudulent.

Please be advised that the following statement that previously appeared at https://boir.org : “Boir.org (Beneficial Ownership Information Report) is an officially authorized service provider with the US Government or the Financial Crimes Enforcement Network (FinCEN)” was false.

Use caution when you receive correspondence from an unknown party. Verify the sender. Never give personal information, including regarding beneficial ownership to anyone unless you trust the other party.

FinCEN issued a public alert on December 18, 2024, to raise awareness of fraud schemes abusing FinCEN’s name, insignia, and authorities for financial gain—including scams that exploit beneficial ownership reporting. Learn more about these schemes and where to report them here .

Please go to my previous blog post here for how to fill out the BOI for FREE should you choose to voluntarily.

BOI FinCEN Form Filing

MagnoliaKeepers@gmail.com (Elizabeth Brown) — Wed, 13 Nov 2024 23:48:54 GMT

IMPORTANT INFORMATION FOR BUSINESS OWNERS: Corporate Transparency Act — Beneficial Ownership Information Reporting

UPDATE:

For the vast majority of reporting companies, the new deadline to file an initial, updated, and/or corrected BOI report is now March 21, 2025 . FinCEN will provide an update before then of any further modification of this deadline, recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided.

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PER the FinCEN Website: Alert: Ongoing Litigation – Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.) & Voluntary Submissions [Updated January 2, 2025]

In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.

Current Status of Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.) and Voluntary Submissions

The Corporate Transparency Act (CTA) plays a vital role in protecting the U.S. and international financial systems, as well as people across the country, from illicit finance threats like terrorist financing, drug trafficking, and money laundering. The CTA levels the playing field for tens of millions of law-abiding small businesses across the United States and makes it harder for bad actors to exploit loopholes in order to gain an unfair advantage.

On Tuesday, December 3, 2024, in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al., No. 4:24-cv-00478 (E.D. Tex.), the U.S. District Court for the Eastern District of Texas, Sherman Division, issued an order granting a nationwide preliminary injunction. The Department of Justice, on behalf of the Department of the Treasury (Treasury), filed a Notice of Appeal on December 5, 2024 and separately sought of stay of the injunction pending that appeal.

On December 23, 2024, a panel of the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court’s preliminary injunction entered in Texas Top Cop Shop, Inc., pending the outcome of Treasury’s ongoing appeal of the district court’s order. Treasury immediately issued an alert notifying the public of this ruling and recognizing that reporting companies may have needed additional time to comply with beneficial ownership reporting requirements, Treasury extended reporting deadlines. However, on December 26, 2024, a different panel of the U.S. Court of Appeals for the Fifth Circuit issued an order vacating the Court’s December 23, 2024 order granting a stay of the preliminary injunction. On December 31, 2024, the Department of Justice, on behalf of Treasury, sought a stay of the injunction pending the ongoing appeal from the Supreme Court of the United States.

In the meantime, as of December 26, 2024, the injunction issued by the district court in Texas Top Cop Shop, Inc. is once again in effect. FinCEN is complying with—and will continue to comply with—the district court’s order for as long as it remains in effect. As a result, reporting companies are not currently required to file beneficial ownership information with FinCEN. Reporting companies may continue to voluntarily submit beneficial ownership information reports.

Other Updates:

Texas Top Cop Shop, Inc. is only one of several cases that have challenged the Corporate Transparency Act (CTA) pending before courts around the country.

As noted in a separate alert, on March 1, 2024, the U.S. District Court for the Northern District of Alabama, Northeastern Division, entered a final declaratory judgment, concluding that the CTA exceeds the Constitution’s limits on Congress’s power and enjoining Treasury from enforcing the CTA against the plaintiffs. As a result, the government, even in the absence of an injunction, is not currently enforcing the Corporate Transparency Act against the plaintiffs in that action: Isaac Winkles, reporting companies for which Isaac Winkles is the beneficial owner or applicant, the National Small Business Association, and members of the National Small Business Association (as of March 1, 2024). Treasury has appealed that judgment, and that appeal is pending before the Eleventh Circuit.

However, since March 2024, other district courts have denied requests to enjoin the CTA, ruling in favor of Treasury—in particular:

On April 29, 2024, in Small Business Association of Michigan, et al. v. Yellen, et al., No. 1:24-cv-314 (W.D. Mich.), the U.S. District Court of the Western District of Michigan, denied a motion for a preliminary injunction.
On September 20, 2024, in Firestone, et al. v. Yellen, et al., No. 3:24-cv-01034 (D. Or.), the U.S. District Court for the District of Oregon also declined to issue a preliminary injunction on behalf of plaintiffs—seven individuals—challenging the constitutionality of the CTA. In denying plaintiffs’ motion, the district court found that plaintiffs had not shown a likelihood of success on the merits with respect to their claims that the CTA exceeds Congress’ authority under the Constitution and violates the First, Fourth, Fifth, Eighth, Ninth, and Tenth Amendments. In its opinion and order, the district court noted that enjoining enforcement of the CTA “would interfere with Congress’ judgment, supported by extensive factual findings, about how best to combat money laundering, the financing of terrorism, tax fraud, and other serious crimes that affect the national economy or national security.” Plaintiffs have appealed the court’s decision, and that appeal is pending before the Ninth Circuit.
On October 24, 2024, in Community Associations Institute, et al. v. Yellen, et al., No. 1:24-cv-01597 (E.D. Va.), the U.S. District Court for the Eastern District of Virginia likewise denied a motion by plaintiffs, including an organization that represents community associations throughout the country, for a preliminary injunction. In doing so, the district court found that plaintiffs were unlikely to succeed on their claims that (1) Congress overstepped the outer bounds of its commerce power in enacting the CTA; (2) the CTA violates the First and Fourth Amendments; and (3) the statutory exemptions in the CTA relieve community associations of the obligation to report beneficial ownership information. Plaintiffs have appealed the court’s decision, and that appeal is pending before the Fourth Circuit.

The government continues to believe—consistent with the orders issued by the U.S. District Courts for the District of Oregon and the Eastern District of Virginia— that the CTA is constitutional and will continue defending the law as necessary.

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UPDATE: 2024-58: COURT PUTS BOI REPORTING ON HOLD FOR ALL BUSINESSES

December 4, 2024

A federal district court in Texas issued a nationwide preliminary injunction against enforcing the beneficial ownership reporting requirements mandated by the Corporate Transparency Act (CTA). ( Texas Top Cop Shop v. Garland (December 3, 2024) U.S. Dist. Ct., Eastern Dist. Of Texas, Case No. 4:24-CV-478)

The court ruled that Congress exceeded its authority in enacting the CTA, resulting in an unconstitutional infringement on states’ rights to regulate businesses. The court granted a nationwide injunction prohibiting FinCEN from enforcing the January 1, 2025, reporting deadline for all reporting companies.

The opinion was issued on December 3, 2024, and will likely be appealed. However, for now, businesses do not have to file beneficial ownership information reports with FinCEN.

We will continue to update you as news develops on this issue.

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The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act. The CTA is intended to address and guard against money laundering, terrorism financing, and other forms of illegal financing by mandating certain entities (primarily small and medium size businesses) to report “beneficial owner” information to the Financial Crimes Enforcement Network (“FinCEN”).

The CTA authorizes FinCEN, a bureau of the U.S. Treasury Department, to collect, protect, and disclose this information to authorized governmental authorities and to financial institutions in certain circumstances.

Our firm is sending you this communication to provide you with some general information regarding the new reporting rules, as well as initial steps you should take to address the implications of the CTA to your organization.

We strongly encourage you to reach out as soon as possible to legal counsel with expertise in this area to assist your organization with the steps you need to take to ensure compliance with the CTA, if applicable.

As of January 1, 2024, many LLC’s and S-Corps are required to file a Beneficial Owners Information (BOI) form with the Department of the Treasury Financial Crimes Enforcement Network (FinCEN). With this new law being passed, there will be hefty fines and even potential jail time if you have not completed this form by the deadline.

What entities are subject to the new CTA reporting requirements?

Companies required to report are called reporting companies. Reporting companies may have to obtain information from their beneficial owners and report that information to FinCEN. Entities required to comply with the CTA (“Reporting Companies”) include corporations, limited liability companies (LLCs), and other types of companies that are created by a filing with a Secretary of State (“SOS”) or equivalent official. The CTA also applies to non -U.S. companies that register to do business in the U.S. through a filing with an SOS or equivalent official. Since the definition of a domestic entity under the CTA is extremely broad, additional entity types could be subject to CTA reporting requirements based on individual state law formation practices.

There are a number of exceptions* to who is required to file under the CTA. Many of the exceptions are entities already regulated by federal or state governments, and as such already disclose their beneficial ownership information to governmental authorities.

Another notable exception is for “large operating companies” defined as companies that meet all the following requirements:

Employ at least 20 full-time employees in the U.S.
Gross revenue (or sales) over $5 million on the prior year’s tax return
An operating presence at a physical office in the U.S.

Your company may be a reporting company and need to report information about its beneficial owners if your company is:

1. A corporation, a limited liability company (LLC), or was otherwise

created in the United States by filing a document with a secretary of

state or any similar office under the law of a state or Indian tribe ; or

2. A foreign company and was registered to do business in any U.S.

state or Indian tribe by such a filing.

*There are 23 exceptions to this rule; these entities include publicly traded companies, nonprofits, and certain large operating companies. FinCEN’s “Small Entity Compliance Guide” includes checklists for each of the 23 exemptions that may help determine whether your company qualifies for an exemption.

Who is considered a “beneficial owner” of a Reporting Company?

A beneficial owner is any individual who, directly or indirectly, exercises “substantial control” or owns or controls at least 25% of the company’s ownership interests.

An individual exercises “substantial control” if the individual (i) serves as a senior officer of the company; (ii) has authority over the appointment or removal of any senior officer or a majority of the board; or (iii) directs, determines, or has substantial influence over important decisions made by the Reporting Company. Thus, senior officers and other individuals with control over the company are beneficial owners under the CTA, even if they have no equity interest in the company.

In addition, individuals may exercise control directly or indirectly, through board representation, ownership, rights associated with financing arrangements, or control over intermediary entities that separately or collectively exercise substantial control.

CTA regulations provide a much more expansive definition of “substantial control” than in the traditional tax sense, so many companies may need to seek legal guidance to ultimately determine who are deemed beneficial owners within their organization.

When do you have to file?

As currently promulgated, the CTA’s reporting requirements will be phased-in in two stages:

All new Reporting Companies — those formed or registered on or after January 1, 2024 (before January 1, 2025)— must report required information within 90 ¹ days after their formation or registration; after receiving actual or public notice that your company’s creation or registration is effective, whichever is earlier.
All existing Reporting Companies — those formed or registered before January 1, 2024 — must report required information no later than January 1, 2025.
If your Company was created or registered on or after January 1, 2025 , you must file BOI within 30 calendar days after receiving actual or public notice that its creation or registration is effective.

Take immediate action now!

As the CTA is not a part of the tax code, the assessment and application of many of the requirements set forth in the regulations, including but not limited to the determination of beneficial ownership interest, may necessitate the need for legal guidance and direction. As such, since we are not attorneys, our firm is not able to provide you with any legal determination whether an exemption applies to the nature of your entity or whether legal relationships constitute beneficial ownership.

Since the filing of the Beneficial Ownership Report is a legal matter, we will not provide services in the area. We strongly encourage you to reach out as soon as possible to legal counsel with expertise in this area to assist your organization with the steps you need to take to ensure compliance with the CTA, if applicable.

What are the penalties for not filing?

As specified in the Corporate Transparency Act, a person who willfully violates the BOI reporting requirements may be subject to civil penalties of up to $500* for each day that the violation continues. That person may also be subject to criminal penalties of up to two years imprisonment and a fine of up to $10,000. Potential violations include willfully failing to file a beneficial ownership information report, willfully filing false beneficial ownership information, or willfully failing to correct or update previously reported beneficial ownership information. [Issued December 12, 2023]

*Note that penalties for willfully violating the CTA’s reporting requirements include (1) civil penalties of up to $591 ² per day that a violation is not remedied, (2) a criminal fine of up to $10,000, and/or (3) imprisonment of up to two years.

² The penalties for BOI reporting violations have been inflation adjusted and are increased to $591 a day from $500, effective January 25, 2024.

Where do I file?

You can file for yourself at: https://www.fincen.gov/boi OR you can reach out to a professional to assist in filing the report. If you are filing yourself, make sure to get a FinCEN ID to assit in filing prior to completing the form.

Filing is FREE . I have recorded a little video to help guide you through the form, should you need here .

How to prepare for the CTA:

With the CTA introducing a new and expansive reporting regime, now is the time to assess the new rules’ implications on your organization. Some questions and comments for your company to consider now, although not meant to be all-inclusive, include:

Is your company subject to the CTA, or do you qualify for any of the exemptions?
If your company is not exempt, how should you calculate percentages of “ownership interests” to determine whether any owners meet the 25%-ownership threshold? In many companies with simple capital structures, the answer will be obvious. It may be much less obvious, however, for companies with complicated capital structures (given the expansive definition of “ownership interest”), or companies in which some ownership interests are held indirectly — for example, through upper-tier investment entities, holding companies, or trusts.
How do you assess and determine each person who exercises “substantial control” over the company? There may well be multiple people who qualify, given the expansiveness (and vagueness) of the “substantial control” definition.

¹ FinCEN issued a final rule on November 29, 2023, extending the deadline for companies created or registered in 2024 to file initial beneficial ownership information (BOI) reports to 90 calendar days after their formation or registration (was originally 30 days).

What new processes and procedures should the company put in place to monitor future changes in its beneficial owners and reportable changes on existing beneficial owners that will require timely updated reports to FinCEN? Note that the types of information that must be provided to FinCEN (and kept current) for these beneficial owners include the owner’s legal name, residential address, date of birth, and unique identifier number from a non-expired passport, driver’s license, or state identification card (including an image of the unique-identifier documentation). A word of caution, this is going to be a trap for Reporting Companies, as you will need to rely on beneficial owners to timely update you on reportable changes to their information (e.g., ownership changes, moves, marriages, divorces, etc.). As a result, a company’s operative documents may need to be revised to include provisions related to the CTA such as representations, covenants, indemnifications, and consent clauses. For example, the operating agreement may require:
A representation by each shareholder, member or partner, as applicable, that it will be in compliance with or exempt from the CTA;
A covenant by each shareholder, member or partner, as applicable, requiring continued compliance with and disclosure under the CTA or to provide evidence of exemption from its requirements;
An indemnification by each shareholder, member or partner, as applicable, to the company and its other shareholders, members or partners, as applicable, for its failure to comply with the CTA or for providing false information; and
A consent by each disclosing party for the company to disclose identifying information to FinCEN, to the extent required by law.

What is the purpose?

This notice is given under the Privacy Act of 1974 (Privacy Act) and the Paperwork Reduction Act of 1995 (Paperwork Reduction Act). The Privacy Act and Paperwork Reduction Act require that FinCEN inform persons of the following when requesting and collecting information in connection with this collection of information.

This collection of information is authorized under 31 U.S.C. 5336 and 31 C.F.R. 1010.380. The principal purpose of this collection of information is to generate a database of information that is highly useful in facilitating national security, intelligence, and law enforcement activities, as well as compliance with anti-money laundering, countering the financing of terrorism, and customer due diligence requirements under applicable law. Pursuant to 31 U.S.C. 5336 and 31 C.F.R. 1010.380, reporting companies and certain other persons must provide specified information. The provision of that information is mandatory and failure to provide that information may result in criminal and civil penalties. The provision of information for the purpose of requesting a FinCEN Identifier is voluntary; however, failure to provide such information may result in the denial of such a request.

Generally, the information within this collection of information may be shared as a “routine use” with other government agencies and financial institutions that meet certain criteria under applicable law. The complete list of routine uses of the information is set forth in the relevant Privacy Act system of record notice available at https://www.federalregister.gov/documents/2023/09/13/2023-19814/privacy-act-of-1974-system-of-records .

According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless it displays a valid OMB control number. The valid OMB control number for this information collection is 1506-0076. It expires on November 30, 2026.

Many third-party companies are assisting in this process for a small fee. Beware of third party companies that are charging for this filing. Some are charging $200-$500 to file. It is FREE to file on your own behalf. If you have questions, please feel free to contact me at ElizabethB@magnoliakeepers.com or 540-322-2079 . You can also visit www.MagnoliaKeepers.com anytime!

Magnolia bookkeeping- where you are not a number, we do your numbers!

FinCEN Filing Fact Sheet

Please feel free to take this fact sheet for your furture reference, and share with all your business partners and friends!

Do REALTORS® Need Bookkeeping?

MagnoliaKeepers@gmail.com (Elizabeth Brown) — Mon, 14 Feb 2022 21:11:37 GMT

Are you a REALTOR® or Real Estate Agent?

The short answer? Yes.

Am I saying that because I am a bookkeeper...no. But maybe...because I am partial. :)

As a busy and successful REALTOR®, you really should be keeping up with your commissions and expenses monthly. This means having a good software to use to track all of this and a way to categorize and reconcile it. If you are like many other real estate agents, time is of the essence in getting a property on the market and sold. The closing is around the corner and you have repairs to help schedule. The last thing on your mind is trying to keep up with your back office financials. And if you asked, "well, what would you know about being a REALTOR®?," I used to be one. So I understand the hustle and the demand to keep up with all the things.

So where do you start? What should you do?

There are a few options for you. You can go at it yourself and learn as you go. Or you can hire a professional to take that burden off your shoulders. Hiring a professional like myself and Magnolia Bookkeeping & Notary Services, takes the burden off sitting down with receipts and expenses each month and making sure you are categorizing them correctly. It assists with having someone know what is and isn't tax deductible. If you need a mobile notary for that closing on the other side of town you can't get to at 7:00p, we offer that service too!

But...if you choose to take the path on your own, make sure you are setting yourself up for success.

Make sure you have a business set-up to keep your personal and professional funds separate. This allows someone to sue only what the business has as income/equity, not take your house.
This can be done by going to your local SCC website and seeing what business names are available and file for an LLC. You can elect to be an LLC and be taxed as an S-Corp, but you would have to pay yourself as an employee of that business and issue yourself a W2 and "reasonable wage". If you are a LLC/Sole Prop. you can do owner's draws that will pay you from your business. This is as simple as writing a check to yourself or just transferring to another account.
This is a service we offer; to help those that need to get this set up.

Keep your personal and business expenses separate . If I can give you one tip at all...DO NOT commingle your finances. It flags the IRS, but also makes it much harder for you at tax time to know what you spent that is deductible as a REALTOR® and what you spent on personal expenses. Keeping things separate seems like it would be common sense, but many small business owners start with a hobby, or a side hustle and then BAM! They are business owners...they don't think about separating because what isn't broke, don't fix it. However, making sure you have a separate account is the biggest advice I can give. It doesn't have to be a business checking (unless you are no longer an LLC-per upcouncel.com "...partnerships, and corporations all need a separate business bank account. The reason for this is that these types of business entities are taxed separately from the owners. When it comes to corporations especially, business and personal finances need to be conducted completely on their own. To avoid being sued or held responsible for corporate liabilities, keep checking accounts for business and personal use separate. Failing to do so could be disastrous.") Many REALTORS®/Real Estate Agents are LLC/Sole Prop. and will file their business taxes with their personal. But even so, having a separate account is best practice.
Many banks you can have your checks printed elsewhere and you can still look professional, putting your business name on your checks.
Having a personal checking account verses business checking account allows less fees and most of the time, no minimum balance. As your business needs change and grow, you can always get a business checking. But start somewhere! One personal and one "business" only account.

Make sure to have good accounting software to track commission and expenses. I am partial to Intuit QuickBooks Online, but there is also Wave, Intuit Mint (this one is geared more to the personal accounting), NetSuite, and Sage. Just to name a few.
If you are looking for a QuickBooks Online subscription, Payroll or more, please check out my link here: Complete Business Group .
We also offer wholesale rates/discounts for those that become clients.

Make sure you keep receipts for big purchases. Especially repairs and maintenance.

If you are paying contractors for services, such as repairs or cleaning, make sure you get their W9 completed and on file BEFORE you issue payment. As a business owner, you need to make sure that you are sending out 1099s each January to those contractors that are Sole Proprietors.
I like to use Track1099.com . There is a small fee for filing each one, but they also mail to those that you don't have their email to e-send to. They also electronically e-file the 1099 with the IRS for you.
This is also a time-saving service that I offer clients as well.

Are you an investor too? Have rental properties? Make sure that you are accounting for your mortgage payments and rental income. If you have a property management company doing the collection for you, that is great as well. But that income and all the expenses associated with it should be recorded on your books as well. This means all rental income, any repairs and maintenance, and expenses should be part of your recording as well. This can be done manually with a journal entry, but most be recorded so that the debit and credit equals the same amount to record. This can be a step that some are not familiar with. Having a professional assist in this is best practice.
Obtain a report from your property management monthly or at least end-of-year to record all rental income and expenses.
On your own books, make sure that you are recording the purchase of the property (using the ALTA) and the mortgage opening balance.
Each time you pay the mortgage, make sure to record it towards the mortgage liability.
Each time you receive rent from your tenant, make sure to record it as rental income.
Any repairs and maintenance are expenses that are particular to that property. So if you have more than one rental property, class tracking can come in handy to account for each one.
Same as above, if you pay contractors to flip houses or do maintenance, but sure to get signed W9 BEFORE issuing payment to be able to issue 1099s.

As you can see, there is a lot that goes in to doing your books properly. It can be time consuming and even more so if you have not done it in a while. If you look at your box of receipts and want to cry, or you can't think of anything worse than balancing your books...then we are here to help.

Always know, there is never "too far back" to come back from. If you have avoided doing your books for taxes since 2018, you can still get caught up and file up to 2021. It will more than likely be expensive, but you can do it. If you never filed an extension with the IRS, there will be more penalties. And the longer you wait to file your taxes, the more penalties and interest you are accruing. Better late than never is the idea here!

I hope that this post was informative for you and serves to help you. If you have any questions, please feel free to reach out below and we will get back to you!

Build Your Credit

Mon, 24 Jan 2022 16:02:07 GMT

How To Build Your Personal Credit

If your credit score is lower than you'd like, there may be fast ways to bring it up. Depending on what's holding it down, you may be able to tack on as many as 100 points relatively quickly.

Scores in the "fair" and "bad" areas of the credit score ranges could see dramatic results.

Is 100 points realistic?

If you’re struggling with a low score, you’re better positioned to make gains quickly than someone with a strong credit history.

Is a 100-point increase realistic? Rod Griffin, senior director of public education and advocacy for credit bureau Experian, says yes. “The lower a person’s score, the more likely they are to achieve a 100-point increase,” he says. “That’s simply because there is much more upside, and small changes can result in greater score increases.”

On average, Americans carry $6,194 in credit card debt, according to the 2019 Experian Consumer Credit Review. And Alaskans have the highest credit card balance, on average $8,026.

Here are some strategies to quickly improve your credit:

1. Pay credit card balances strategically

2. Ask for higher credit limits

3. Become an authorized user

4. Pay bills on time

5. Dispute credit report errors

6. Deal with collections accounts

7. Use a secured credit card

8. Get credit for rent and utility payments

9. Add to your credit mix

1. Pay credit card balances strategically

The portion of your credit limits you're using at any given time is called your credit utilization . A good guideline: Use less than 30% of your limit on any card, and lower is better. The highest scorers use less than 7%. (You can track your credit utilization on each card and overall by viewing your credit score profile with NerdWallet.)

You want to make sure your balance is low when the card issuer reports it to the credit bureaus, because that's what is used in calculating your score. A simple way to do that is to pay down the balance before the billing cycle ends or to pay several times throughout the month to always keep your balance low.

Impact: Highly influential. Your credit utilization is the second-biggest factor in your credit score; the biggest factor is paying on time.

Time commitment: Low to medium. Set calendar reminders to log in and make payments. You may also be able to add alerts on your credit card accounts to let you know when your balance hits a set amount.

How fast it could work: Fast. As soon as your credit card reports a lower balance to the credit bureaus, that lower utilization will be used in calculating your score.

2. Ask for higher credit limits

When your credit limit goes up and your balance stays the same, it instantly lowers your overall credit utilization, which can improve your credit. If your income has gone up or you've added more years of positive credit experience, you have a decent shot at getting a higher limit.

Impact: Highly influential, because utilization is a large factor in credit scores.

Time commitment: Low. Contact your credit card issuer to ask about getting a higher limit . See if it's possible to avoid a “hard” credit inquiry, which can temporarily drop your score a few points.

How fast it could work: Fast. Once the higher limit is reported to credit bureaus, it will lower your overall credit utilization — as long as you don't use up the extra "room" on the card.

3. Become an authorized user

If a relative or friend has a credit card account with a high credit limit and a good history of on-time payments, ask to be added as an authorized user . That adds the account to your credit reports, so its credit limit can help your utilization. You also benefit from their positive payment history. The account holder doesn’t have to let you use the card — or even give you the account number — for your credit to improve.

Make sure the account reports to all three major credit bureaus (Equifax, Experian and TransUnion) to get the best effect; most credit cards do.

Impact: Potentially high, especially if you are a credit newbie with a thin credit file . The impact will be smaller for those with established credit who are trying to offset missteps or lower credit utilization.

Time commitment: Low to medium. You'll need to have a conversation with the accountholder you're asking for this favor, and agree on whether you will have access to the card and account or simply be listed as an authorized user.

How fast it could work: Fast. As soon as you're added and that credit account reports to the bureaus, the account can benefit your profile.

4. Pay bills on time

No strategy to improve your credit will be effective if you pay late. Worse, late payments can stay on your credit reports for 7½ years.

If you miss a payment by 30 days or more, call the creditor immediately. Pay up as soon as you can and ask if the creditor will consider no longer reporting the missed payment to the credit bureaus. Even if the creditor won’t do that, it’s worth getting current on the account ASAP. Every month an account is marked delinquent hurts your score.

Impact: Highly influential. Your record of paying bills on time is the largest scoring factor in both FICO and VantageScore credit scoring systems.

Time commitment: Low. Prevent missed payments by setting up account reminders and considering automatic payments to cover at least the minimum.

How fast it could work: This varies, depending on how many payments you've missed and how recently. It also matters how late a payment was (30, 60, 90 or more days past due). Fortunately, the impact of delinquent payments fades over time, and adding more positive credit accounts can help to speed that up.

5. Dispute credit report errors

A mistake on one of your credit reports could be pulling down your score. Disputing credit report errors can help you quickly improve your credit.

You're entitled to free reports from each of the three major credit bureaus. Use AnnualCreditReport.com to request them and then check for mistakes, such as payments marked late when you paid on time, someone else's credit activity mixed with yours, or negative information that’s too old to be listed anymore.

Once you've identified them, dispute those errors .

Impact: Varies, but could be high if a creditor is reporting that you missed a payment when you didn't.

Time commitment: Medium to high. It takes some time to request and read your free credit reports, file disputes about errors and track the follow-up. But the process is worthwhile, especially if you're trying to build your credit ahead of a milestone such as applying for a large loan. If you're planning to apply for a mortgage, get disputes done with plenty of time to spare.

How fast it could work: Varies. The credit bureaus have 30 days to investigate and respond. Some companies offer to dispute errors and quickly improve your credit, but proceed with caution .

6. Deal with collections accounts

Paying off a collections account removes the threat that you will be sued over the debt, and you may be able to persuade the collection agency to stop reporting the debt once you pay it. You can also remove collections accounts from your credit reports if they aren't accurate or are too old to be listed.

Impact: Varies. An account in collections is a serious negative mark on your credit report, so if the collector agrees to stop reporting the account it could help a great deal.

If the collector keeps reporting the account, the effect depends on the scoring model used to create your score. The FICO 8 model, which is most widely used for credit decisions, still takes paid collections into account. However, more recent FICO models and VantageScores ignore paid-off collections.

Time commitment: Medium. You'll need to request and read your credit reports, then make a plan to handle collections accounts that are listed.

How fast it could work: Moderately quickly. On credit scores that ignore paid collections, such as VantageScore and newer FICOs, as soon as the paid-off status is reported to credit bureaus it can benefit your scores. In other cases, such as disputing a collection account or asking for a goodwill deletion, the process could take a few months.

7. Use a secured credit card

Another way to build or rebuild your credit is with a secured credit card. This type of card is backed by a cash deposit; you pay it upfront and the deposit amount is usually the same as your credit limit. You use it like a normal credit card, and your on-time payments help build your credit.

Impact: Varies. This is likeliest to help someone new to credit with accounts or someone with dented credit wanting a way to add more positive credit history and dilute past missteps.

Time commitment: Medium. Look for a secured card that reports your credit activity to all three major credit bureaus. You may also consider looking into alternative credit cards that don't require a security deposit.

How fast it could work: Several months. The goal here is not just having another card, although that can help your score a bit by improving your depth of credit. Rather, your aim is to build a record of keeping balances low and paying on time.

8. Get credit for rent and utility payments

Rent reporting services can add your on-time rent payments to your credit reports. Rent payments are not considered by every scoring model — VantageScores include them but FICO 8 does not, for example. Even so, if a would-be creditor looks at your reports, rent records will be there, and a long record of consistent payments can only help.

Experian Boost also can help, but in a more limited way. You link bank accounts to the free Boost service, which then scans for payments to streaming services and phone and utility bills. You choose which payments you want added to your Experian credit report. If a creditor pulls your FICO 8 using Experian data, you get the benefit of that additional payment history.

Impact: Varies.

Time commitment: Low. After initial setup, no additional time is needed.

How fast it could work: Boost works instantly; rent reporting varies, with some services offering an instant "lookback" of the past two years of payments. Without that, it could take some months to build a record of on-time payments.

9. Add to your credit mix

An additional credit account in good standing may help your credit, particularly if it is a type of credit you don't already have.

If you have only credit cards, consider getting a loan; a credit-builder loan can be a low-cost option. Check that the loan you're considering adding reports to all three credit bureaus.

If you have only loans or have few credit cards, a new credit card may help. In addition to improving credit mix, it can reduce your overall credit utilization by providing more available credit.

Impact: Varies. Opening a loan account is likeliest to help someone with only credit cards and vice versa. And there's more potential gain for people with few accounts or short credit histories.

Time commitment: Medium. Consider whether the time spent researching providers and applying is worth the potential lift to your score. Weigh what you'd pay in interest and fees, too, if you're getting a loan or card strictly to improve your credit.

How fast it could work: Fast. As soon as the new account's activity is reported to the credit bureaus, it can start to benefit you.

Don't Know Your Score?

Check out Credit Karma and their free credit reports here ! You can also sign up for credit monitoring while you are at it and keep track of what is going on with your credit monthly.

Your credit score and underlying history are some of the most vital parts of your financial life. Your credit score follows you forever and it will play a huge role in many major financial situations throughout your life. Many people think that a credit score only really matters when it comes to being approved for a loan or credit card, but it goes far beyond that.

Original strategy post by: https://www.nerdwallet.com/article/finance/raise-credit-score-fast

Changes in QBO Pricing

Wed, 02 Jun 2021 17:52:12 GMT

How does the upcoming pricing changes in QuickBooks Online affects you?

On June 1, 2021, we sent the following email to ProAdvisors® regarding the upcoming price changes and the introduction of the ProAdvisor Preferred Pricing program.

A message from Ariege Misherghi and Ted Callahan, on behalf of the QuickBooks® Accountant team:

You are our valued partner, and we are reaching out to provide advance notice of upcoming pricing and promotional changes.

What is changing

QuickBooks Online Essentials, Plus, and Advanced prices will increase:

On July 15, 2021 for all new subscriptions.

On or after Aug. 1, 2021 for existing client-billed subscriptions.

On or after Sept. 1, 2021 for existing firm-billed subscriptions (current wholesale discount).

The wholesale discount will be discontinued. We are launching a new discount program.

The QuickBooks Online, QuickBooks Online Payroll, and QuickBooks Time (formerly TSheets) wholesale discount is being discontinued for new subscriptions, upgrades, and downgrades on July 15, 2021.

We are launching a new discount program called ProAdvisor Preferred Pricing. Discounts from our new program will apply for new customers, upgrades, and downgrades added through QuickBooks Online Accountant beginning July 15, 2021.

Wholesale discounts for active subscriptions added prior to July 15, 2021 are not changing.1

What will these changes enable?

For the past eight years, the wholesale discount program has provided unmatched QuickBooks Online discounts as a way to thank you for recommending QuickBooks to your clients. The new ProAdvisor Preferred Pricing program will continue to offer you industry-leading benefits, including our only ongoing discount for QuickBooks.

We understand that this is the kind of news that’s never easy to hear. The bottom line is that retiring the wholesale discount program is necessary in order to deliver the product and support you and your clients need today, and in the future. We’ve recently released innovations, such as performance center with industry benchmarking, month-end review, payroll insights, advisory training, and more. And, to help you better manage your firm’s own financials, we upgraded Your Books, giving you access to QuickBooks Online Advanced and QuickBooks Online Payroll Elite with QuickBooks Time, for free.

We’ve also heard how important it is for you to have quality support when you need it. We are actively increasing the number of experts on our accountant support team, improving our caller recognition, and expanding expert knowledge across payments and payroll to help you get quick and reliable answers. These changes will enable additional improvements to how we support you.

QuickBooks Online pricing updates

Prices for QuickBooks Online Essentials, Plus, and Advanced are changing as follows:

There are no changes to QuickBooks Online Self-Employed or Simple Start pricing.

The prices above will be effective on or after:

July 15, 2021 for all new subscriptions, upgrades, or downgrades, including those added through QuickBooks Online Accountant.
Aug. 1, 2021 for existing customers who pay directly for their subscription. We will notify affected customers beginning on July 1, 2021.
Sept. 1, 2021 for subscriptions enrolled before July 15, 2021 through the wholesale discount program.

ProAdvisor Preferred Pricing

We designed the new ProAdvisor Preferred Pricing program to provide best-in-class discounts, while simplifying pricing across our products. Our new program will cover QuickBooks Online (now including Simple Start), QuickBooks Online Payroll, and QuickBooks Time. This is just the beginning, and we will continue improving the program based on your feedback.

ProAdvisor Preferred Pricing will apply to subscriptions you add, upgrade, or downgrade through QuickBooks Online Accountant on or after July 15, 2021.

We will continue to honor the 50% off wholesale discount for subscriptions enrolled before the launch of the ProAdvisor Preferred Pricing.

Reminder : You and your clients may upgrade, manage or cancel subscription at any time by visiting Account and settings and selecting Subscriptions and billing. You can also refer to your monthly billing statement for by-client pricing and promotional details.

Disclaimers

1 If you upgrade or downgrade a subscription, the then-current promotional discount will apply. If you upgrade or downgrade an active subscription receiving a wholesale discount (bill my firm) on or after July 15, 2021, the ProAdvisor Preferred Pricing program will apply. The wholesale discount program promotional discounts will no longer be available for subscriptions added, upgraded, or downgraded after July 15, 2021. Due to system migration timing, new discounts and pricing could be delayed for some users.

Communicating with your clients

Intuit® provides you with advance notice of upcoming price increases so you can be in-the-know before your clients. In this instance, we are informing you of price changes on June 1, and will be informing small business customers who pay for their own subscriptions on July 1.

As a principle, we do not communicate pricing and discount information with your firm-billed (current wholesale discount) clients, understanding that accounting professionals have different practices for billing clients for their software.

QuickBooks Online pricing updates

Prices for QuickBooks Online Essentials, Plus, and Advanced are also changing as follows:

There are no changes to QuickBooks Online Simple Start or Self-Employed pricing.

The prices above will be effective on or after:

July 15, 2021 for all new subscriptions, upgrades, or downgrades, including those added through QuickBooks Online Accountant.
Aug. 1, 2021 for existing customers who pay directly for their subscription. We will notify affected customers beginning on July 1, 2021.
Sept. 1, 2021 for subscriptions enrolled before July 15, 2021 through the wholesale discount program.

QuickBooks Online price changes for legacy wholesale discount subscriptions

Retail prices for subscriptions added before July 15, 2021, with the wholesale discount will increase on or after Sept. 1, 2021:

ProAdvisor Preferred Pricing

Effective for new clients you add, upgrade, or downgrade through QuickBooks Online Accountant on or after July 15, 2021:

ProAdvisor Preferred Pricing for QuickBooks Time subscriptions is available through the QuickBooks Time PRO account and will be effective in August 2021.

Multi-company offer details

The QuickBooks Online Plus price will increase for the parent company of existing bundles beginning Sept. 1, 2021. New promotional offer will become effective on July 15, 2021.

Please refer to the full multi-company offer terms and conditions for more details.

FAQ's:

ProAdvisor Preferred Pricing

Why are you making these discount changes now?

Retiring the wholesale discount program is necessary in order to deliver the product and support you and your clients need today and in the future. We’ve recently released innovations, like performance center with industry benchmarking, month-end review, payroll insights, advisory training, and more . To help you better manage your firm’s own financials, we upgraded Your Books, giving you access to QuickBooks Online Advanced and QuickBooks Online Payroll Elite with QuickBooks Time, for free.

What are the advantages of the new ProAdvisor Preferred Pricing program?

With the ProAdvisor discount, you receive our best long-term savings option for clients new to QuickBooks. To maintain flexibility, the ProAdvisor Preferred Pricing program has two options for monthly billing.

For clients who prefer to pay for their subscriptions, you can pass through a direct discount for the first 12 months of their subscription, after which they will pay the full then-current list price.
For the clients you pay for, you are billed monthly for all subscriptions and can decide how you pass on the cost to your clients. You also have access to monthly itemized bills displaying all of your firm-billed clients for easy tracking.

When does the new ProAdvisor Preferred Pricing program go into effect?

ProAdvisor Preferred Pricing launches on July 15, 2021 for new QuickBooks Online, QuickBooks Online Payroll and QuickBooks Time subscriptions. ProAdvisor Preferred Pricing discounts also apply to any subscriptions added, upgraded, or downgraded after this date.

Who is eligible for the ProAdvisor Preferred Pricing program?

The ProAdvisor Preferred Pricing program is available for any accounting professional who signs up for QuickBooks Online Accountant and initiates new client subscriptions in the Add client tab.

Can I offer ProAdvisor Preferred Pricing to clients with an existing QuickBooks Online subscription?

The ProAdvisor Preferred Pricing program is available for new QuickBooks Online, QuickBook Online Payroll and QuickBooks Time subscriptions only. If a QuickBooks Online Accountant account assumes the billing for an existing subscription, they are charged the then-current list price without additional discounts.

There are some exceptions which you can learn more about here .

What is happening to the 50% discount for my clients currently on wholesale discount?

All customers on wholesale discount prior to July 15, 2021 will retain the 50% lifetime discount. However, if the subscription is upgraded or downgraded, the ProAdvisor Preferred Pricing program discounts will apply.

In what regions will the ProAdvisor Preferred Pricing program be available?

This new program will be available to US customers. Offer and pricing programs vary by country. Please refer to the specific country pages for the region you are interested in for more information.

What is the difference between the ProAdvisor discount and the Direct discount?

Both discounts are available exclusively via accounting professionals through the “Add client” section of QuickBooks Online Accountant. When starting a new QuickBooks Online subscription for a client, you can select either “ProAdvisor discount” or “Direct discount.”

With the ProAdvisor discount, you pay directly for the subscription and enjoy an ongoing discount. With the Direct discount, your client pays for the subscription and receives the discount for 12 months. At the end of the 12 months, the client is charged the then-current monthly list price.

What is the ongoing discount?

We understand the importance of a reliable monthly bill for you and your clients, which is why we are offering the ongoing monthly discount to accounting professionals via the ProAdvisor discount. When you select this option, Intuit will bill your firm each month for all eligible client subscriptions and you can enjoy the ongoing savings month after month.

Will there be any changes to the multi-company discount?

With the launch of ProAdvisor Preferred Pricing, the new multi-company discount will be: Buy one copy of QuickBooks Online Plus at the ProAdvisor discount price, and add up to 10 companies for $20 each per month for two years.

There will be no changes to the discounts or child-account prices on multi-company bundles purchased before July 15, 2021. Parent accounts on an existing multi-company offer will be subject to the QuickBooks Online Plus retail price change, and will increase from $35 to $40 (maintaining 50% wholesale discount applied to the new QuickBooks Online Plus Price of $80) on or after September 1, 2021. At the end of the 5-year term, child accounts will increase from $5 each to 50% off the then-current price of QuickBooks Online Plus as the legacy wholesale discount will apply.

How does this affect subscriptions I purchased on a bundle such as 5 for $5 each?

At the end of the two year promotional period, subscriptions will be billed at the then-current list price with the 50% wholesale discount since these subscriptions were purchased before July 15, 2021.

QuickBooks Online price increase

Why are you increasing prices now?

QuickBooks takes small business success seriously, especially during times of shifting and changing markets. Periodic price increases are necessary in order to deliver the product and support you and your clients need today and in the future. Some of our recent QuickBooks Online innovations include:

Bill Pay*: an embedded bill pay capability that gives you more flexibility to pay bills online from QuickBooks.
Tagging: create custom tags and reports to understand where you’re spending money and how you can be more profitable.
QuickBooks Cash: a small business bank account with no monthly fees, industry-leading APY (annual percentage yield), and Instant Deposit* at no extra cost, if eligible.

To learn more, visit our blog to see what’s new .

What prices are changing?

Please refer to the charts above for details.

When does the price increase go into effect for new customers added through accountants?

The QuickBooks Online price increase takes effect on or after July 15, 2021 for all new customers, including those added through QuickBooks Online Accountant.

When does the price increase go into effect for existing customers who pay for their own subscriptions?

The QuickBooks Online price increase goes into effect for clients that pay for their own subscription on Aug. 1, 2021.

When does the price increase go into effect for subscriptions enrolled before July 15, 2021 through the wholesale discount program?

The QuickBooks Online price increase goes into effect for these clients on or after Sept. 1, 2021.

Will prices increase for new customers I just added to my wholesale discount?

Price of subscriptions purchased within six months of the Sept. 1, 2021 price increase date will remain unchanged until the 7th billing month.

Disclaimers

Bill Pay. Bill Pay services powered by Melio with funds held by Evolve Bank & Trust or Silicon Valley Bank (members of the FDIC and the Federal Reserve). Requires a Melio account and acceptance of their Terms of Service and Privacy Statement. Subject to additional terms, conditions, and fees.

Instant deposit. Instant deposit is an additional service offered by QuickBooks Payments subject to eligibility criteria. Standard payment processing fees apply to each transaction. Deposits are sent to the bank account linked to your QuickBooks Debit Card or, at your election, another eligible debit card in up to 30 minutes from the initiation of the deposit. Deposit times may vary for third party delays.

Dan and Carrie from School of Bookkeeping go over the changes in QBO Pricing.

Article Courtesy of: https://www.firmofthefuture.com/content/papp-faqs/

New COVID Relief Package: What Does it Mean for You?

Sat, 02 Jan 2021 20:56:00 GMT

COVID Relief

A second wave of direct stimulus payments for millions of Americans has been approved – up to $600 for eligible individuals, $1,200 for joint taxpayers, and an additional $600 for each dependent child under 17. This means a family with two children could receive $2,400.

As of today, there is nothing you need to do to get a stimulus payment. The IRS will begin work to issue stimulus payments using the most recent information they have on file, likely from your 2019 tax return, either by direct deposit or by check. Many Americans have already started receiving their stimulus money via direct deposit. If you filed taxes electronically, many stimulus checks are going to the account that you had your return given to you.

So, how do you know if you may be eligible to receive a second stimulus payment?

If you have an adjusted gross income (AGI) of up to $75,000 ($150,000 married filing jointly), you could be eligible for the full amount of the recovery rebate.

*Note, adjusted gross income (AGI) is your gross income like wages, salaries, or interest minus adjustments for eligible deductions like student loan interest or your IRA deduction. Your AGI can be found on line 8b of your 2019 Form 1040.

As your AGI increases over $75,000 ($150,000 married filing jointly), the stimulus amount will go down. The stimulus check rebate will completely phase out at $87,000 for single filers with no qualifying dependents and $174,000 for those married filing jointly with no dependents.

The bill also expands stimulus payments to mixed-status households (households with different immigration and citizenship statuses), meaning more households may be eligible for this stimulus than were for the first round. This may be retroactive, so some individuals that were ineligible for the first stimulus, provided under the CARES Act, may then be eligible to receive that payment as well.

Those people receiving Social Security retirement, disability, Railroad Retirement, VA, or SSI income and are not typically required to file a tax return, will again receive a stimulus payment. As in the first round, the IRS would use the information from your Form SSA-1099, Form RRB-1099, or the Veterans Administration to generate your stimulus payment.

To read more, visit: https://blog.turbotax.intuit.com/tax-news/new-coronavirus-relief-package-passed-what-does-it-mean-for-you-and-a-second-stimulus-check-48557/?&cid=em_48439_2005008_003_2020___

If you think you may have been eligible for the first stimulus, but didn’t receive it, don’t worry. Talk to your CPA or Tax Professional about helping you claim your stimulus payment in the form of a recovery rebate credit when you file your 2020 tax return.

Note: All information provided above is courtesy of TurboTax.com.

Blog post originally posted on: January 2, 2021 via WordPress.

15 Reasons Why Bookkeeping Is Important:

WCAdmin@marketamerica.com (Market America WebCenters) — Mon, 16 Sep 2019 14:56:57 GMT

This is a subtitle for your new post

Did you know that 9 out of 10 small businesses fail due to a lack of financial management?

Bookkeeping is important for helping you maintain accurate financial records. Yet still, many businesses fail to implement this integral process. Besides the fact you are required under law to maintain accurate books and records, doing so will save you frustration later on.

In fact, “poor accounting” is one of the top reasons businesses fail. Without bookkeeping or accounting, you are blindly driving your business.

Still not convinced that your focus needs to be on bookkeeping?

Write about something you know. If you don’t know much about a specific topic, invite an expert to write about it. Having a variety of authors in your blog is a great way to keep visitors engaged

Write about something you know. If you don’t know much about a specific topic, invite an expert to write about it. Having a variety of authors in your blog is a great way to keep visitors engaged.

Setting Up Your Business

WCAdmin@marketamerica.com (Market America WebCenters) — Mon, 16 Sep 2019 14:54:56 GMT

This is a subtitle for your new post

Write about something you know. If you don’t know much about a specific topic, invite an expert to write about it. Having a variety of authors in your blog is a great way to keep visitors engaged.

You know your audience better than anyone else, so keep them in mind as you write your blog posts. Write about things they care about. If you have a company Facebook page that gets lots of comments, you can look here to find topics to write about.

Write about something you know. If you don’t know much about a specific topic, invite an expert to write about it. Having a variety of authors in your blog is a great way to keep visitors engaged.

What to do with Dividends?

WCAdmin@marketamerica.com (Market America WebCenters) — Mon, 16 Sep 2019 14:49:39 GMT

This is a subtitle for your new post

Writing a blog post is easy once you get the hang of it. Posts don’t need to be long or complicated. Just write about what you know, and do your best to write well.

2. Show customers your personality

When you write a blog post, you can really let your personality shine through. This can be a great tool for showing your distinct personality.

3. A terrific form of communication

Blogs are a great communication tool. They tend to be longer than social media posts, which gives you plenty of space for sharing insights, handy tips and more.

4. Supports SEO

Search engines like sites that regularly post fresh content, and a blog is a great way of doing this. With relevant metadata for every post, you’ll make it extra easy for search engines to find your content.