Guide to Finance

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Self Employed Write Off

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Getting and keeping credit is enough of a problem all by itself, but being self-employed and trying to obtain loans is a whole new ballgame. It is a good bit harder for a person who is self-employed to obtain credit for anything than it is for a person who has taxes taken out of their check every week.



As you are probably aware, all places require you to prove that you actually have income before they will lend you money, but some places require different kinds of proof than others do. Depending on whether you are dealing with a large company that runs applications through a computer or a company where you can actually speak to the person who reviews your application, you may have to have anything from tax returns to paycheck stubs or even down to just a letter from your employer.

When dealing with small companies, you may be able to get away with just a record of your income that you have kept personally for the past year or more, but when dealing with large companies that approve and reject applications by computer, you will likely need the past two years' tax returns. If you do not have these, you are likely to have problems getting the loan you are after.

Either way, a secured personal loan is much easier to obtain than an unsecured personal loan. As a self-employed person, it is very hard to obtain an unsecured loan from a large company if you are within the first year of your business. It is often easier to go with a smaller company where you can talk to a loan officer one on one and explain your situation. If you can make the person you are dealing with care about you, they will often do the best they can to get the money you need. The most you will typically get when dealing with large companies such as Capital One or HSBC is a somewhat nameless person that likely lives in a foreign country reciting company rules and regulations with next to no room to maneuver to help you out, no matter what your situation is. Trying to make these people care about you is usually fruitless, so if you are newly self-employed and need a loan of any kind, try to deal locally with an actual person. This is the easiest way to get the funds you need, whether it is for a vehicle, equipment, or anything else you might want a loan for.
Self Employed Write Off
One of the toughest career challenges is returning to corporate life after being self-employed for a number of years. If you are a self-employed job candidate, you are probably facing misconceptions about your career that are keeping you out of the "must interview" candidate list. For example, employers may assume:

* Your experiences are too broad

* You are overqualified and too expensive

* You can't fit their corporate mold

No matter what the reason, the challenge remains universal: getting back into the corporate workplace without taking a step backward financially or professionally. To ease the transition, there are three job search tips that can help optimize your re-employment results:

* Prepare a resume based on targeted transferable skills

* Reconnect with your network

* Gain competitive advantage by increasing your interview skills

1. Prepare a resume based on targeted transferable skills

As an entrepreneur, you've probably worn many hats: operations, sales, accounting and finance, to name a few. Chances are your resume reflects such a wide range of management experience that your resume lacks focus. If your resume is getting overlooked for positions you're qualified for, employers are probably not making the match because you've given them information overload. To match your expertise with corporate hiring needs, the first step is to identify the transferable skills required for your targeted career objective.

Think selectively about what skills to include in your resume. If you are looking to fill the role of accountant, your resume doesn't need to include information about how you marketed your own product or services. Additionally, don't include any skills on your resume that you no longer want to perform. Think of this time as the perfect opportunity to finally ditch those unwanted tasks.

2. Reconnect with your network

Entrepreneurs tend to network with other entrepreneurs, leaving them isolated from corporate contacts. Those on the inside of corporate life have the advantage of learning about jobs through their professional association peers and company grapevines.

If you have been "out of the loop" with your old professional network, it's time to reconnect. Start by contacting former colleagues to let them know that you are preparing to return to corporate life. This is no time to be shy. Ask their advice about whom to contact within their company that might be interested in your skills and experiences.

Another source of employment leads are your current vendors and professional services providers. Ask their advice on who among their professional circle might be interested in learning about your availability. If you ask for advice, your request comes across as a compliment; most people are flattered to be asked their suggestions, opinions and advice.

3. Gain competitive advantage by improving your interview skills

Many self-employed job seekers find that they are unable to communicate their value to potential employers. Even if you've been marketing your own business for years, don't be surprised if you find yourself tongue-tied when trying to promote yourself as the perfect candidate.

Worse still, if you aren't 100% sure what employers are looking for, you could inadvertently turn them off by coming off as "too entrepreneurial" or "not a team player" in an interview. What the employer is looking for may not be the same skills that made you a success in business. You want to be seen as corporate material?their corporation.

Interview preparation that includes building a list of accomplishments is one of the best ways to gain competitive advantage. Accomplishments are developed by identifying the major problems and challenges you have overcome, then mapping those results to corporate bottom-line objectives: revenue built, costs cut, and processes improved.

Don't let anxiety over re-entering corporate life lead to less-than-satisfactory employment. With thoughtful strategy, you can turn the next phase of your career into the best professional years of your life.
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About Author
Both Dror Klar & Deborah Walker are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Dror Klar has sinced written about articles on various topics from Satellite, The Internet and Finances. Dror Klar is a writer in the field of finances and is currently assisting those in need of , particularly in the state of. Dror Klar's top article generates over 3350000 views. to your Favourites.

Deborah Walker has sinced written about articles on various topics from Career Change, Prospects and Recent Graduate. Deborah Walker, CCMC is a career coach who works with entrepreneurs returning to corporate life, preparing them to compete in the toughest job markets. Her clients gain top performing skills in resume writing, interview preparation and salary negotiation. Deborah Walker's top article generates over 8100 views. to your Favourites.
Community Development Business Plan
Maintaining a list of visitors with registration facilities included in website development activities can help in attracting prospective customers
 
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