The customer is always right. If you’re a business owner you know that and you’ve probably told your employees a million times the customer should always be happy, or else they might take their business elsewhere. The problem is what can Australian business owners do to make sure this is always the case? Can background checks help with that?
The importance of pre-employment background checks
The employees are the face of your company, especially those who interact with your customers on a daily basis. Many Australian companies have strict dress codes for those employees who work directly with the customers, but looks aren’t everything.
To understand the importance of criminal police checks, let’s examine a hypothetical situation. Say you own a shoe store visited by hundreds of women of all ages every day.
What if one of your salespersons happens to be a guy with a history of sexual harassment? Can you even imagine what a nightmare experience one of your customers might have if that guy starts making inappropriate comments or touching her legs while presenting her with various pairs of shoes? Many women are afraid to say anything in such a situation because they might be ashamed of what just happened, but you can bet that customer will never set foot in your store again. And will tell all her friends to stay away.
Or let’s take another scenario, with an employee with a criminal record for various acts of violence. A short-tempered guy might easily become nasty if not downright violent with a demanding customer. Yes, some customers can be very difficult, but your staff should go out of their way to accommodate them because that’s how business works.
How to make police checks part of your hiring strategy
No business wants to be dragged into a public scandal and the only way to avoid that is to make sure your employees are not dangerous. One way of doing that is checking their criminal history.
To avoid awkward situations, you can write that down in the job ad. ‘Selected candidates will have to submit to a national police check or an ancc police check from a character check agency like ANCC’. They’ve been informed now and if, for some reason, they do not want to have a background check they’d better not apply for that position.
Should this question surface during the job interview, your hiring manager can explain the reasoning behind this decision – the company wants to avoid being dragged into a public scandal. Also, add that the company uses the services of an online character check agency, so this won’t inconvenience the candidate in any way.
Another argument is that should such a situation appear, it’s not just the employee at-fault who might be facing charges, but also the company for failing to ensure public safety. At the very least, the company might be sued for negligent hiring.
Knowing that a candidate doesn’t have a criminal record doesn’t guarantee they won’t be causing any sort of trouble in the future, but the risks are significantly lower.
Then you can look at other things you need to do to create the best possible experience for your customers, like providing regular training for your employees and having them permanently monitored.
Roth IRA: A Guide To The Benefits & Features
A Roth IRA, or Individual Retirement Account, has been a retirement savings vehicle for US taxpayers since 1998. It has many benefits and features you’ll want to be familiar with before entering one.
This guide will discuss the ins and outs of Roth IRAs in hopes that you can make an informed decision on whether or not it is right for you.
What Is A Roth IRA?
It is a type of individual retirement account (IRA) set up by a person or business on behalf of another individual or company.
Contributions are made after-tax, and distributions are tax-free if you meet certain conditions.
The funds go into an account managed by an investment firm, which handles the investments and investing decisions on behalf of each investor’s Roth IRA account.
Each year, the IRS sets contribution limits (for both traditional and Roth IRAs) that determine how much you can invest each year into your accounts before they apply taxes to your earnings.
These limits vary depending on your age and income level; if you’re interested in contributing more than the limits allow, there are ways to increase contributions beyond those caps.
For Roth IRAs, the contribution limits are much higher than those for traditional IRAs and 401(k)s. That is because they represent an excellent opportunity for anyone who wants to save for retirement.
That goes especially for those who do not have the means to contribute to a Roth IRA. That limit also applies to other retirement accounts.
How Does It Work?
A Roth IRA works like any other investment account.
You contribute money and then let it grow over time until you need it for retirement.
The main difference between a traditional IRA and a Roth IRA is how much you earn goes toward earning interest on investments versus paying taxes on those earnings each year.
Roth IRA Contribution Limits
Roth IRA contribution limits vary depending on age, income, and whether you’re married or single.
In 2019, the maximum contribution limit for most people was $6,000 per year, although an additional catch-up contribution is allowed for those 50 years old or older.
If you’re married and filing jointly, the limit is $12,000. You can make contributions to your account at any point during the year; keep track of how much you’ve contributed so that you don’t exceed the maximum amount for that tax year.
You can also make partial contributions throughout the year. For example, if you want to contribute $2,000 in January and another $4,000 in July, that’s fine as long as your total contribution doesn’t exceed $6,000 ($7,000 if you’re 50 or older).
Contributions made after age 70½ are called “qualified distributions” and thus not subject to income tax or early withdrawal penalties (although they will be subject to regular income tax).
Required Minimum Distributions (RMD)
One of the essential features of a Roth IRA is that you don’t have to take required minimum distributions (RMDs).
You must withdraw these minimum amounts from your IRA or 401(k) account each year after age 70½ to avoid penalties.
With a traditional IRA or 401(k) account, you must start taking RMDs at age 70½, but with a Roth IRA, you can leave your money in history forever and never take out any money.
The only requirement is that if you’ve had your account open for at least five years and can withdraw up to $10,000 as a first-time homebuyer without paying taxes, you can use this rule once every two years during retirement.
This can be helpful if an unexpected expense arises or you need extra money for an emergency fund.
How To Open or Start A Roth IRA?
You open a Roth IRA with a financial institution, such as a bank or brokerage firm.
You can contribute up to $5,500 annually in 2019 (or $6,000 if you’re 50 or older), but income restrictions exist on who can contribute.
Contributions may be made directly by the individual or through payroll deduction.
The earnings on your investments grow tax-free until distributions are taken during retirement.
Distributions are taxed as ordinary income at ordinary rates.
So if you contribute $5,500 each year for 40 years and earn 8 per cent per year (which is about average for stocks), your investments would total about $1 million by the time you retire.
If you withdraw that money at age 65, they will tax it as ordinary income at ordinary rates when withdrawn — which could be about half of what you invested.
What Type Of Money Can You Contribute?
The following are examples of what type of money you can contribute to a Roth IRA:
This includes wages and salaries, net self-employment earnings, and farm income. It also includes alimony and child support payments if they are taxable to you.
This includes interest on savings accounts and certificates of deposit, dividends on stocks; rental income; capital gains from the sale of stocks or mutual funds; pension payments; Social Security benefits, unemployment benefits, and other sources.
You must have earned income to contribute to a Roth IRA for the year you want to contribute (unless you are married and filing jointly).
When Can You Withdraw From A Roth IRA?
If you have a Roth account and want to get the money out of it penalty-free when you are older, you can do so under certain conditions.
For example, if you’re at least 59½ years old when you take money out of your Roth IRA or use the distribution to buy, build or rebuild your first home (up to a lifetime maximum of $10,000), there are no taxes on the amount distributed.
Also, after a disability prevents you from working for at least 60 days and continues for at least six months, you may be able to take out money without paying income taxes.
And finally, if someone inherits an inherited Roth IRA, they will get the money after that person dies.
If you have a retirement account, you must wait five years before withdrawing any of its funds.
If you withdraw the money before the five years, you will be subject to a 10% penalty on top of any applicable taxes.
If you are younger than 59½, you can avoid this penalty if you use the money to buy your first home or if you have a disability, die or use the withdrawal for qualified education expenses.
There are exceptions if you need to take money from your Roth account.
You can take out the money for medical bills that are more than 10% of what you make in a year without having to pay taxes or penalties on the money.
You might need to pay for medical insurance if you have lost your job.
You can also take out money for qualified higher-education expenses.
That would include tuition, fees, books, supplies, and equipment required for enrollment or attendance.
The final decision to go with a Roth IRA remains up to you. However, the Roth IRA offers some tangible benefits that make it stand out from the rest in terms of compensation.
If your earnings are likely to be above average in a year or two, then Roth is probably a great choice.
Also, suppose you can avoid any nasty surprises that cause you to need access to your savings before retirement age. In that case, the Roth IRA has a significant advantage over other plans.
Popular Crypto Telegram Groups
One of the finest places to remain informed about the newest cryptocurrency trends and which altcoins are booming is Telegram which is one of the best resources along with Twitter and YouTube.
Popular Reddit communities and even Tiktok influencers talk about cryptocurrency. A crypto project frequently maintains an online presence on a number of social media platforms, one of which is a Telegram group.
It is possible to create a Telegram group where everyone may freely speak or a one-way Telegram channel where individuals can only subscribe to a feed of updates (or both). Then, to reduce spam, Telegram users are designated as moderators and admins.
Current Top Crypto Telegram Groups
But which Telegram channels for cryptography are the finest in 2022? The top three bitcoin ask me anything and channels in recent months have been compiled by our cryptocurrency market research team.
As its native token LBLOCK experienced a 65x run in one month in 2022 following the introduction of their cryptocurrency giveaway app, Lucky Block has been trending on the cryptocurrency Reddit.
The coin was covered by financial media ranging from Nasdaq.com to Yahoo Finance. Investors who are interested have been following its crypto Telegram group.
Investors may contact the team and developers of all major altcoins via the Telegram community. The CEO of Lucky Block frequently hosts followers-only AMA (ask me anything) events on TG.
Additionally, there is a second one-way channel for news regarding Lucky Block NFTs and a separate chat group for Lucky Block support; the latter is a better place to seek for assistance because the main group, which has over 44k members, has a lot of posts.
For the most recent news and tutorials, including instructions on how to connect to NFT Launchpad via Metalmark, check the pinned messages. Like pinned tweets on Twitter, ICOspeaks news messages can be pinned.
Predict Prices with Accuracy
They publish trade setups and predict prices with accuracy for both high-volume altcoins and the majors. The official group should always be followed because there are a lot of phonies on Telegram with identical handles. They offer a VIP Telegram as a premium service in addition to a free crypto Telegram channel. A curated list covering all cryptocurrency websites on the internet covers the most recent cryptocurrency news developments that may have an impact on the market. So, he ranks among the top Crypto Telegram channels in our opinion.
The most recent link, for instance, reads “SEC accepts Teucrium Bitcoin Futures fund.” was a reference to remarks made on cryptocurrency and stable coins by Treasury Secretary Janet Yellen.
There are several crypto-focused Telegram news channels, but after following Unfolded for a time, we found it to be one of the greatest sources for headline-relevant crypto news alerts on Telegram. One of the most well-liked crypto Telegram channels is his.
Check the @ handle matches after getting the link from the official website, Twitter account, first organic Google result, etc. Additionally, look at the number of followers, however even that can be fabricated using bot followers. Likewise, for cryptocurrency-related Twitter profiles.
Never respond to DMs from admins since they will never offer to trade for you, inform you of a special promotion, or inform you of a crypto airdrop. They would just make a post about it in the group and respond to your inquiries there (scammers are more likely to target you if you ask a question). Their @ account will be slightly different, but they’ll use the same profile picture and name as the official organization. They alone are special.
As some Telegram groups are blocked and hidden if downloaded from the App Store, we also advise downloading Telegram through the official website. Apple occasionally bans cryptocurrency material.
Telegram can also be viewed online without being downloaded to a computer or mobile device. Once you sign up for a Telegram account, change the settings so that nobody else may message you and that only your contacts can see your phone number. The greatest crypto Telegram groups, like Lucky Block and Crypto Signals, are then easily accessible to you.
Knowing How to Buy Energy
In today’s unstable economic environment, organizations of all sizes are looking for ways to control and reduce costs for specialized tasks and noncore services, like cleaning, landscaping, and energy.
Many businesses might be losing out on energy savings opportunities.
Twenty-five years ago, if you didn’t like the prices your local utility was charging for electricity and natural gas, you might have had no other options.
Many U.S. states and Canadian provinces now have energy market structures that encourage electricity and natural gas retail competition due to the deregulation of the energy sector. This implies that there may be other options besides your local utility.
In contrast to the local utility, most retail energy suppliers in deregulated energy markets provide a wide range of options, including fixed pricing, index pricing, and energy efficiency and management strategies.
Energy purchasing merits your attention because it makes up about 30% or more of the annual operating budget of a typical office building.
Businesses of all sizes now have the option to manage their energy budgets by selecting from a wide range of suppliers, thanks to energy deregulation.
Looking for an energy provider can be overwhelming, but you don’t have to go it alone.
You can learn about energy strategies from various sources like this found in https://businessenergycomparison.com/ and assess which suppliers will use the best energy sources and services to meet your needs and stay within your budget.
If your company operates in a deregulated energy market, you can use your energy strategy to cut costs, improve operations, and generate new revenue. It’s time to decide what your energy strategy should include and to find out what essential qualities to look for in a supplier.
What kinds of commercial energy contracts are available?
Gas and electricity providers offer different types of contracts. To avoid overpaying for energy, you must ensure you’re on the right one.
There are five primary commercial energy contracts on the market:
Fixed Rate: This does not resolve your monthly payment total, which will change depending on how much you use. For the duration of the contract, a fixed price per unit (kWh) is charged.
Variable rate: Unit rates are based on market activity, so that they could change for your contract.
Deemed rate: You will be put on one of these rolling, out-of-contract tariffs and must pay your supplier’s highest rates if you let your current tariff expire without switching suppliers or negotiating a new deal.
A 28-day contract is available for companies that have not switched energy providers since the deregulated market.
A rollover contract is used when no alternate has been reached before the end of your current agreement.
The prices are among the highest offered by the supplier.
What occurs when your commercial energy contract expires?
You must compare business utilities and switch to a better deal before your commercial energy contract expires; otherwise, you’ll have an expensive out-of-contract rate.
If you are unsure of when your current contract will expire, don’t worry. Your supplier will keep in touch when the renewal window opens with an offer of a new contract. But, please don’t accept any offer until you have compared it to other agreements on the market.
Your old provider will send you a final bill and request a final meter reading if you choose to switch service providers to ensure that the account is accurate.
You will also have a deadline for paying this last bill.
Depending on your circumstances and supplier, you may be on a rollover over the contract or deemed rates if you haven’t negotiated a new deal.
How much energy ought your company to be consuming?
The first step in shopping in a deregulated energy market is to decide whether you are looking for electricity, natural gas, or a combination of these.
To streamline energy management and maximize potential savings through a tailored strategy, choosing a supplier who can meet all your energy needs is effective if you are considering many options.
It would help if you also considered how important it is for your company to use renewable energy.
This topic is becoming more critical, especially for businesses that cater to consumers, academic institutions, and companies that want to show that they care about the environment.
How to contrast prices and choose a better offer
One quick phone call to our energy experts is all it takes for us to compare and then enter the energy market to find a deal that’s right for your business. MoneySuperMarket eliminates the hassle of comparing commercial energy contracts, rather than you calling around every supplier to find a great deal on gas and electricity.
Once we have more information about your company’s energy requirements, we can search the entire energy market for a deal that will work best for you.
It helps if you can let us know the following so that we can publish more accurate quotes:
- Your current gas and electricity suppliers’ name.
- Your tariffs’ name and end dates
- What you supply
- How much electricity and gas your company uses
Once you’ve selected the offer that best suits your company, we’ll set up your new contracts with your new suppliers. We can then provide you with several quotes from various suppliers.
There shouldn’t be any disruption to your electricity supply, not even on the switchover day. Your new supplier will figure this out with your current supplier and let you know the switching date. The switch should take about six weeks.
There won’t need to be any drilling or digging at your place of business because gas and electricity will pass through the already-existing pipes and cables.
Take a final meter reading on your old supplier so they can send you your final bill and collect any money you may still owe them after the switch is complete.
Energy providers should provide extra services besides energy procurement that can aid you in achieving your objectives.
Businesses looking to reduce their electricity costs might want to think about a load management program like demand response, which is made to help reduce grid demand during peak hours.
Demand response benefits your company’s resolve to reduce energy use during times of high demand and when the program administrator or local utility requests it.
Participating businesses may receive more payments when they are asked to reduce consumption. Depending on the program rules, participating companies are compensated quarterly or monthly for agreeing to reduce consumption by a certain amount.
You can frequently get help from a reliable energy provider with the preparation and implementation of your participation in demand response programs.
They can assist you in determining whether your company satisfies the program’s requirements and get ready to scale back if necessary so you can take advantage of the program’s potential financial rewards.
In addition to financial gains, you might also be able to reduce your overall energy consumption and reduce your energy costs.
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