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via Hey Dads, Take Care of Yourself — Feel Healthy with Dr. Scott Lear via Roger E Scranton Blog https://rogerescranton.wordpress.com/2018/06/23/happy-fathers-day-to-all-dads-take-care-of-yourself-feel-healthy-with-dr-scott-lear/
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Lets jump right into this week’s “stuff.” BUT FIRST…CHECK THIS STUFF OUT1. Strong Body-Strong Mind – Boston, MAWe had such a great response when Lisa and I hosted a SBSM Workshop in Boston last year that we decided to do it again this summer. I’ll be speaking to assessment, coaching up common strength exercises (squats, deadlifts), and how to better “match” your programs to your client’s abilities and goals. Lisa will be discussing how to better manage client expectations, motivation, and how to adopt better mindset strategies for success. The umbrella theme of this workshop is to enhance the SOFT skills of coaching, how to garner a connection, and build rapport with your athletes/clients.
For more details (including itinerary and registration) go HERE. 2. Even More Complete Shoulder & Hip Blueprint– Dates/Locations AnnouncedDean Somerset and I are currently in the throes of drumming up new content for our staple workshop series. We’ve presented this workshop all over the world – London, Vancouver, Oslo, Prague, Boston, LA, Hoth – and even turned it into a popular digital product HERE so everyone can enjoy it. We’ve already nailed down dates in Slovenia, Houston, and LA this fall (2018) and are also in talks to bring it to Detroit, Philadelphia, Edmonton, Australia, and Singapore in 2019. If you’re someone who’d like to host this event/participate in a tickle fight please reach out to either Dean or myself. Go HERE to register in the announced cities. 4. Strength Squad Podcast Appearance[embedded content] STUFF TO READ WHILE YOU’RE PRETENDING TO WORKThe Best Barbell Exercises You’re Not Doing – T-NationHere’s the latest compilation article on T-Nation I was asked to contribute to. I have to say, Christian Thibaudeau’s first offer is a CLASSIC. Why Do You Bother? An Open Letter to “The Diet Absolutist” – Iron ExecMy biggest pet peeve in this industry – other than kipping pull-ups – are people who think their way or what’s worked for them will automatically apply to everyone. This applies to training, but it especially applies to nutrition. Exercises to Improve Your Thoracic Spine Mobility – The Prehab GuysI picked up some new drills myself from this one. Great stuff. SOCIAL MEDIA SHENANIGANS
Did what you just read make your day? Ruin it? Either way, you should share it with your friends and/or comment below.via Blog – Tony Gentilcore http://tonygentilcore.com/2018/06/stuff-read-youre-pretending-work-6-22-18/
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This is a post from a member of the Freelancers Union community. If you’re interested in sharing your expertise, your story, or some advice you think will help a fellow freelancer out, feel free to send your blog post to us here. When you first start working for yourself, one of the comments you hear an awful lot of is how so-and-so could never handle the variable income. Leaving a steady paycheck behind is one of the biggest things we emotionally (and financially) prepare for before launching a freelancing business. But, like many other aspects of going into business for yourself, preparing for it beforehand and actually living it are two wildly different beasts. Before I made the leap, a fellow freelancer warned me about the income “peaks & valleys.” I was ready to set out into a valley, ready to spend months toiling only to barely make rent. My emergency savings were swollen and waiting. I knew my business may not find a whole lot of traction in those first few months. I was so ready for that initial valley. And then after a few months—a peak!—my first $3,000 month. And with each invoice paid and new contract signed, the term “peaks & valleys” evaporated from my brain. My business was taking off. That’s what made the inevitable next valley so terrifying. See, I had it in my head that once you have some traction, it’s smooth (well, smoother) sailing. I knew my income would still fluctuate, but by a few hundred dollars here and there, I thought. The valleys would be relative. I wasn’t ready to go an entire month without a single project. And I didn’t prepare for it—emotionally or otherwise. During my first peak, I wasn’t worried about next month. I wasn’t sending out pitches, building my network...nothing. And that’s what turned an inevitable valley into the Marianas. I didn’t market myself until the “Oh, shit!” moment when, suddenly, I ran out of work. I’m back on Everest now, but I’m resolving that the next valley won’t catch me so far back on my heels.
Kiera's a freelance writer and consultant for software and ecommerce companies. She writes for the likes of Shopify, Wave, and Kissmetrics, among others. Newly located in Boston, MA, Kiera loves cinnamon coffee and a good baseball game. via Freelancers Union Blog https://blog.freelancersunion.org/2018/06/22/sophomore-slump-or-comeback-of-the-year-how-to-handle-variable-income/
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I’m not an asshole. But I had a real asshole moment earlier this week, and I think it can serve as a teachable moment for many other coaches and trainers out there who may be reading. My abject assholiness affected me to much it prompted me to go stand out on the ledge of a mountain, look out at nature, pontificate on my life, and ask someone to snap a picture of it. Hahahaha. Just kidding. I didn’t do that shit. That’s just a random picture I was hoping would add a sense of scope and grandeur to this post, some deeper meaning that would make all of you be like “whoa, Tony’s got something important and salient to write about today, I have to keep reading.” NOTE: I was gonna photoshop an eagle on the shoulder or maybe a massive spaceship out in the horizon, but felt it would have been a bit of overkill. Anyway, did it work? You’re still reading so I’ve hooked you somehow……;o) Fuck This Intro, Tony. How Were You An Asshole?I receive emails each week from people asking me random training questions or maybe to inquire about my services. Here’s an email I opened a few days ago:
There was more to the email, but the rest of isn’t pertinent to what I want to talk about. I read the first sentence and I have to be honest: I didn’t have enough eyes to roll. I immediately became judgmental and couldn’t help but have the theme music from Jaws reverberate in my head. Not because I wanted to eat him or anything. But because I’m always a bit leery and skeptical when the following scenario plays out:
In this particular instance I couldn’t help but wonder “why has this person been through so many trainers and has tried so many different things, yet is still looking for results or the right fit?” What they hoping I’ll do differently? Generally when I see a laundry list of workout programs and diets I tend to question one’s ability to commit to something and/or their ability to stay consistent with anything for longer than a week.
Moreover, and this is a comment brought up by one of my followers on Twitter which I feel hits the nail on the head…..
It’s a legitimate question. Half of me would like to sit here and say “yeah, I’m the shit.” I’m a good coach and feel I can offer bit more in way of experience and general levels of badassery.” The other half of me is a bit more humble. There are a plethora of other coaches and trainers who are equally as (if not more) qualified, and I doubt I’d say or do anything that drastically different than anyone else this person has worked with prior.
It behooves any fitness professional to be competent in any of the above, and I do feel what separates the great ones from the subpar is their ability to deliver quality programing and coaching. Maybe the gentlemen who sent me that email was cursed with a lineage of incompetent and lame ass trainers? Maybe he’s the problem and is a serial program hopper and lacks discipline? As it happens he and I came to the conclusion I wasn’t going to be a good fit anyways due to scheduling conflicts and availability. But the interaction gave me pause. I’m sure many of you reading have had a similar experience, a similar inner dialogue, and similar initial (irrational?) snap judgement of a potential client. Here’s Something to ConsiderMost people don’t really care you’re able to write world class training programs, or that you’ve worked with numerous professional athletes, or that you place a premium on continuing education, or that, I don’t know, you can make a killer Creme Brulee. It’s great if or when they have access to a trainer/coach who can do all of the above and knows their ass from their acetabulum. But do you want to know, above all else, what people REALLY want? Connection.No, not that kind of connection you weirdo. The difference maker for most people is the connection that’s cultivated with their coach. Knowing the x’s and o’s of program design and improving scapular upward rotation are grand skills to have, but can you find other ways, other than the nerdy fitness stuff, to tether a more meaningful connection with your clients?
There are a thousand other examples to consider. The point being: Rather than think the worst out of the gate and assume the person who emailed me was just another lost cause, the better play was to re-frame things and figure out how I was going to differentiate myself from the masses? Sometimes even I need a swift reminder of that. Did what you just read make your day? Ruin it? Either way, you should share it with your friends and/or comment below.via Blog – Tony Gentilcore http://tonygentilcore.com/2018/06/what-most-of-your-clients-want/
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This is a post from a member of the Freelancers Union community. If you’re interested in sharing your expertise, your story, or some advice you think will help a fellow freelancer out, feel free to send your blog post to us here. The health insurance regulatory landscape in the United States may soon be changing in ways that offer new opportunities and new hazards for freelancers and entrepreneurs. The new opportunities are ones that allow sole proprietors to join Association Health Plans, Short Term Health Plans to be extended from a three-month to a 364-day maximum period, and both to be sold across state lines. The hazards are that these plans pose substantial financial risks and may destabilize ACA marketplaces, making insurance more expensive for many people. Although the proposed new regulations are still works-in-progress, as health insurance enrollment periods for 2019 approach, freelancers should pay careful attention to changes affecting Association Health Plans and Short-Term Health Insurance Plans, which are now being touted as possible alternatives to ACA marketplaces. While both these types of plans may be promoted as offering lower premiums than ACA-compliant plans, experts have raised significant questions about their quality of coverage, including cherry-picking only the healthiest customers, allowing age and gender discrimination, limiting coverage of pre-existing conditions, having lifetime benefit caps, offering no or limited coverage of many common conditions, and, in the case of AHPs, potential financial insolvency. BackgroundWith freelancers on track to become the majority of the United States workforce within the next one or two decades, health insurance for freelancers, entrepreneurs, and small businesses is becoming increasingly politically important. In the past, the United States model of employer-funded private health insurance not only left many of us uncovered, but also had been a major obstacle for people who wanted to leave the security of traditional jobs and strike out as freelancers or entrepreneurs. While the passage of the Affordable Care Act in 2010 and efforts by Freelancers Union have made health insurance more accessible to freelancers, insurance still remains prohibitively expensive for many of us. In response to the high cost of health insurance and September 2017 failure of Congress to repeal the ACA, on October 12, 2017, President Trump issued Executive Order 13813, “Promoting Healthcare Choice and Competition Across the United States.” Explicitly intended both to lower health insurance costs for some consumers and businesses and to undermine the ACA insurance marketplaces and cause them to fail, the potential effects of the proposed changes to insurance regulations for AHPs and STHPs will significantly destabilize health insurance marketplaces and pricing over the next few years if implemented in their currently proposed forms. For freelancers, though, an even more immediate question is whether this will enable us to save money on health insurance or whether new low cost offerings would increase the risk of high out-of-pocket medical expenses and even potential bankruptcy in case of a medical emergency. What are Association Health Plans (AHPs)?Association Health Plans are designed to let small employers group together into associations to provide insurance to employees. Originally, this legal structure allowed professional associations or small businesses in related industries, such as real estate agencies, law firms, or construction companies in limited geographical areas, to act as single companies in providing insurance for their employees, under the assumption that an association of thousands of people could get a better deal than a company with only a few dozen employees. Three major proposed regulatory changes to AHPs are now under review. The first is allowing sole proprietors, including freelancers, to join AHPs. The second is permitting AHPs to be sold across state lines, following the regulations of their home states (often ones with less regulatory oversight) and bypassing some of the regulations of states in which they are selling insurance. The third change is allowing AHPs to be formed solely for the purpose of providing health insurance rather than requiring participants to share other commonalities. While AHPs can reduce insurance premiums for young healthy freelancers, the economics behind this is worrisome. AHPs can potentially offer savings on premiums for some groups by either denying coverage to certain groups, reducing scope of coverage, or having differential pricing e.g. charging up five times more to older compared to younger customers or charging women of childbearing age more than men of the same age. Although racial discrimination is illegal, AHPs can vary charges by industry, raising the specter of higher costs for industries that traditionally employ more women or ethnic minorities. Perhaps the most worrisome aspect of deregulating AHPs is the very reason for which the current regulations were put in place, namely their past history of insolvency and even outright fraud. AHPs and other “multiple employer welfare arrangements” (MEWAs) have a long history of scams and bankruptcies. In the 1980s, 1990s, and 2000s, over half a million people were left with a collective $200 million in unpaid health bills due to the largest insolvent MEWAS, and many other smaller fraudulent and insolvent ones have been shut down by state governments. While reputable organizations such as the AARP or established professional associations may offer legitimate AHPs, be wary of new or unknown providers, especially if they offer a six-month free supply of all-natural herbal male enhancement products along with your health coverage. What are Short-Term Limited-Duration Health Plans (STHPs)?Short Term Health Plans, currently restricted to a maximum of three months, are precisely what their name suggests, an afordable way of bridging temporary gaps in coverage for people who might be waiting for new coverage to become effective or for the start of the next ACA open enrollment period. These plans are sometimes described as "hit by a bus" plans, designed to prevent catastrophic financial losses in the case of an unanticipated emergency. The proposed rule changes, though, extending their duration to a maximum of 364 days, may tempt some people to see them as a low-cost alternative to ACA-compliant plans. As they tend to have high deductibles, caps on lifetime benefits, and limited coverage (with maternity benefits and prescription drugs among the common exclusions), they should not be considered an alternative to other forms of health insurance, but rather as useful only for their originally intended purpose. ACA compliance: What's missing from AHPs and STHPsThe Affordable Healthcare Act did more than simply create insurance marketplaces. It also defined essential services that ACA-compliant plans needed to cover. Both Association Health and Short-Term Health Plans are exempt from the need to cover these essential services. Although AHPs and STHPs will cover some of the costs of hospitalization and emergency care, they might not include prescription medicines, maternity and pediatric care, mental health treatment, substance abuse treatments, chronic disease management, preventive services, and rehabilitive services and devices such as physical therapy or crutches. Unlike ACA compliant plans, STHPs and AHPs may place dollar limits on total coverage, daily coverage, or the amount covered for specific services such as office visits or ambulance services. Even worse, there may be no cap to out-of-pocket medical expenses under these plans, meaning that someone with a major illness or who requires a complex surgery might still need to pay hundreds of thousands of dollars in medical costs despite having such insurance. An even more worrisome issue is that both AHPs and STHPs can exclude "pre-existing conditions" from coverage, even if the patient is unaware of the existence of the condition. On an obvious level, this means that if you are among the quarter to half of all Americans who might have a pre-existing condition, from asthma to diabetes or cancer to high blood pressure, you might either be denied coverage entirely or the insurer could refuse to cover any treatments pertaining to those conditions. Even worse, though, is that the exclusion may apply unexpectedly. Imagine, for example, you had a cough a few months before enrolling in an AHP or STHP. You went to a doctor and were give a prescription for cough medicine. A few months later, you go for a checkup and your doctor finds lung cancer. If you have ACA-compliant coverage, your cancer treatments would be covered. In the case of a non-compliant plan, the insurance company could claim that the earlier cough was a symptom of the cancer and deny you coverage. Make informed choicesFreelancers do not have sick days. If we stop working, we stop making money. Because illness can be such a significant financial risk for us, high-quality health insurance is crucial to our financial survival. While some freelancers can obtain coverage through parents or spouses, and others may be eligible for VA, Medicare, or Medicaid benefits, many of us rely on ACA individual marketplaces. While premiums can be frustratingly high, ACA-compliant plans offer a level of coverage and security not found in most AHPs and STHPS. For young, healthy people who are not eligible for ACA subsidies but nonetheless in financial difficulty, the low premiums of STHPs or AHPs may offer short-term solutions, but these should be regarded as temporary measures and researched very carefully, both for provider solvency and specific terms and exclusions. Carol Poster has taught professional writing at Florida State University and York University (Canada) and published numerous books, photographs, and articles on outdoor recreation, travel, green living, and culture. via Freelancers Union Blog https://blog.freelancersunion.org/2018/06/21/how-proposed-healthcare-changes-will-affect-freelancers/
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This is a post from a member of the Freelancers Union community. If you’re interested in sharing your expertise, your story, or some advice you think will help a fellow freelancer out, feel free to send your blog post to us here. How many times have you said or thought to yourself, “I know I should be doing that, but…”? Probably too many times to keep track of. We all do itWe all know what we should be doing to take better care of ourselves and become majestic unicorn human beings. We should work out. We should eat better. We should get more sleep and rest. We should read more and enrich our minds daily. We should spend more time with those we love. We should have positive thoughts and push out negative thoughts. We should volunteer and give back to the community. We should challenge ourselves. We should limit our social media and TV consumption. The list goes on and on. Sometimes thinking of all the things you know you should be doing causes stress levels to rise. In return, we think there is no way we’ll do all the things we want to do, so instead we avoid them all. It can be very overwhelming and the easiest way out is to think of a laundry list of excuses as to why you’re not doing the things you know you want to do. As I’m sure you’ve heard at some point in your life, "Excuses are like buttholes, everyone has one and they all stink.” Whether you agree or disagree with this quote, the overarching theme is that excuses are very common. Holding yourself accountable, despite what’s happening in your life, is uncommon. It’s time to stop “shoulding” on yourselfLet’s look at how to break free from the norm and become uncommon, majestic unicorn human beings in our everyday lives. Remember the stress and overwhelming pressure we put on ourselves is all self-created. To eliminate this stress and anxiety and live overall healthier lives we need to start with tiny micro-steps. This breaks down to making commitments and establishing habits. No need to go for a home run or slam dunk right out the gate; we need to learn how to dribble first in the game of life. The first step to stop “shoulding” on yourself is to realize your own self-worthThis means to take a step back and recognize how much of a bad ass, boss, powerful, amazing person you are. By thinking of yourself with high regard, you will value yourself more. When you value yourself, you value your body, your mind, your soul. You value taking care of yourself and you hold yourself to a higher standard. Some people value their cars better than they value themselves. Start with the one thing that you really want to improve in your lifePerhaps that’s your physical health. Now pick one aspect to focus on. Is it your physique, the way you feel, the rest you’re giving yourself? Once you pick that, create a weekly goal for yourself. This could be walking for 30 minutes three times a week, setting a strict bedtime for yourself no matter what is happening, or meal prepping your food and not eating out. Whatever it is, be as specific as possible and start small. It also helps to get an accountability partner. Find a friend with similar goals and work together to keep up your regimen. Celebrate the small victoriesNow, I’m not telling you to pop bottles because you finally washed the dishes you’ve been avoiding, but yes celebrate when you accomplish your goals. If you’re able to set milestones for yourself and celebrate along the way it will make the journey to receiving your unicorn horn much more enjoyable. You deserve better than constantly “shoulding” on yourself. Take action today and you’ll be amazed at the difference in your quality of life in just one month. I believe in you. Erica Ferguson is a Stress Management Coach and the Founder of Prioritizing You, a service teaching how to manage stress, avoid burnout, and navigate through life transitions. Sign up for "Your Weekly Recharge" newsletter with insight and tips about managing stress and life: www.prioritizingyou.com via Freelancers Union Blog https://blog.freelancersunion.org/2018/06/20/shoulda-woulda-coulda-how-to-stop-shoulding-on-yourself/
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I know what you’re thinking. “Face pulls? Really, Tony? That’s what you’re going to write about today? What’s next: Talking about the Kreb’s Cycle? Discussing all the uses of Osmium? Breaking down who will win this season of The Bachelorette?” I get it. Face pulls aren’t the most exciting exercise in the universe, but I’ve never been someone who feels exercise has to be entertaining. I want to help get people results and I want people to stay healthy. Face pulls will achieve both. Face Pulls Are the SexyFace Pulls have been an exercise I’ve utilized in my programming – both personally and with clients – for as long as I can remember. I try not to play favorites but I can’t think of an instance where I haven’t sprinkled them into a program in some way, form, or fashion. They’re one of the most user-friendly and effective exercises to strengthen the upper back, posterior cuff, and help keep the shoulders healthy. Now that’s sexy. In fact, if I were to rank their sexiness in the pantheon of sexy things it would look like this:
Hyperbole aside – is it too late to add my pecs onto that list? – there are few things to consider when it comes to common mistakes people make with the exercise and execution in general. 1. Face Pull Fix – General Set UpIt’s not inherently wrong to do so, but I’m not a huge fan of people utilizing a pronated (overhand) grip with this exercise. It locks people into a more internally rotated position in the glenohumeral joint as well as narrows the acromion space, which can predispose people who are vulnerable to impingement syndrome. Instead I like this approach: [embedded content] 2. Face Pull Fix – Too Much Low Back MovementAnother common mistake some make with the execution of this exercise is using a squared stance. Again, it’s not inherently wrong, but a squared stance provides an opportunity for some people to crank through their lumbar spine and promote more of a rib flare. The fix is to
Both options help omit extraneous movement from the lower back. NOTE: Excessive forward head posture is common too and can be fixed by telling people to 1) stop doing that, 2) telling them to make a “double chin,” or 3) place a tennis ball underneath the chin. [embedded content] 3. Face Pull Fix – Adjusting to the LifterThere’s never a one-size fits all approach to any exercise. As coaches and trainers it’s important to do our due diligence and adjust/temper any given exercise to fit the needs, goals, and ability level of our clients. With the Face Pull I’ll usually set it up so the vector of pulling is in more of a top-to-down fashion. Meaning: most often the goal is to nudge people into more scapular retraction and depression. However, in some cases it can be challenging for some lifters – due to a litany of scenarios: pattern overload (too much bench pressing), sitting in front of a computer for half their life – to get into proper position to perform the exercise well. Some may present with more anteriorly tilted scapulae and/or over-active upper traps and the exercise has to be adjusted. [embedded content] 4. Face Pull Fix – Scapular MotionWe want bone-on-bone congruency between the shoulder blades and rib cage throughout. In other words: I want to see the scapulae move around the ribcage during this exercise. Many retract/depress the shoulder blades when they bring the attachment towards their face, and then make the mistake of keeping the shoulder blades there when extending their arms. To repeat: the shoulder blades should move around the ribcage. I like to tell trainees they should feel a slight/subtle “stretch” when extending their arms out in front. [embedded content] Face Pull VarietyFor those who do like to keep things interesting, here are two Face Pull variations you may like. Face Pull to Y PressI got this one from Zach Long of thebarbellphysio.com. [embedded content] It looks all inane, simple, and easy and stuff…but this one is a lot more challenging than it looks. This will fire up everything on the backside of the shoulders and is superb at improving strength of the upper back and posterior cuff. Face Pull w/ Band AbductionI stole this one off Dr. John Rusin and started experimenting with it recently. This is another variation that will really fire up the posterior cuff and strengthen the entire upper back. [embedded content] Programming TidbitsI try to include one form of rowing variation in just about every training session – yes, even on lower body days – with the bulk of my clients/athletes. Face pulls, and rowing in general, are one of those things most people can’t perform enough of. To wrap things all in a nice little bow, I’m all about the “feel” of this exercise and am not entirely concerned with going very heavy. To that end, I do prefer high(er) reps with Face Pulls and will often opt for 3-4 sets of 10-2o repetitions 2-4x per week. I tend to stick with using them as a stand alone exercise towards the end of a training session, but am also a big fan of pairing them with squats/deadlifts/bench press and performing them with EVERY set (even warm-ups). It serves as a great way to ramp up rowing volume, but because they’re a relatively low-grade, non-aggressive exercise, they won’t compromise performance of subsequent sets of the big 3. Pants optional. Did what you just read make your day? Ruin it? Either way, you should share it with your friends and/or comment below.via Blog – Tony Gentilcore http://tonygentilcore.com/2018/06/face-pulls-right-often/
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This is a post from a member of the Freelancers Union community. If you’re interested in sharing your expertise, your story, or some advice you think will help a fellow freelancer out, feel free to send your blog post to us here. Your freelance life likely involves some degree of hustle—juggling projects, attracting new clients, keeping odd hours. But it’s worth it for the flexibility, lifestyle, location, pay structure, and hours. What happens, though, when a sudden business opportunity arises or the unexpected occurs, and you need cash as soon as possible? That’s where the fluid and flexible world of freelancing can come to a screeching halt. Sometimes, when you’re at the whims of others, waiting on payment, you’re not quite as independent as you wish you were. If cash flow is an issue, but you need money to spend, can you get a business loan as a freelancer? It’s a great question—with a nuanced answer. 4 red flags a lender sees when a freelancer applies for a loanLet’s begin with the unsurprising part: As a freelancer, you’ll have a harder time than a corporation getting a business loan. Unfortunately, some of the reasons why you love freelancing in the first place are the very same reasons why lenders will look at you as a risky candidate. And, of course, a lender is always trying to mitigate risk to make sure they don’t lose their money. LiabilityAs a sole prioprietor, there’s no distinction between owner and business. Although there are some huge advantages to being a sole proprietor, that’s a big risk to a lender. If an unhappy client decides to sue your business, for instance, you’re personally liable. Sole proprietors are inherently exposed to risk in this way—and that’s a tough sell for lenders. Investment securityRelatedly, there’s a good chance you freelance because you have a unique talent. That’s excellent—but it’s another problem for lenders, who see your singular talent as an inherent risk. Ever watch Shark Tank and see investor Kevin O’Leary ask a business owner what happens to his company if he gets hit by a bus? It sounds harsh (and, yes, it is), but what O’Leary means to say is that in case anything sidelines you, no one can keep your business generating revenue. Commingled financesBusiness loan applicants are expected to submit their taxes for lenders to evaluate—both business and personal. But as a freelancer, you’ve likely filed both together. That’s tough for your potential lender, who isn’t able to distinguish between your personal and business finances. They won’t be able to make important judgments about your cash flow, revenue, and other factors essential to determining your potential to pay back your loan. Income predictabilityAlthough flexibility and freedom is important to you, it’s a would-be nightmare for a lender. They see the potential for dry spells during which you’re not getting work—and, subsequently, not able to pay your loan. You might think of seasonal businesses, which also have up-and-down months. The difference here is that have predictable revenue trends, which is much more favorable for a lender. The best business funding options for freelancersSo, yes, there are some hurdles for freelancers looking for traditional business financing. But you can absolutely get a loan as a sole proprietor. Here are a few great options if you’re looking for cash-flow relief: Business credit cardsThe quickest and easiest solution by far is a business credit card. You can, of course, benefit from all of the different cash back rewards or travel points that you earn from business spending. But if you qualify for a 0% intro APR card, you can essentially get a free loan for as long as the intro period lasts—and some cards offer 15 months. Even if you don’t get a 0% APR card, many cards offer the possibility of cash advances. Although interest rates on these advances can be high, having the option is great for freelancers in a pinch. And no matter what, you’ll be building your business-specific credit—which is huge if you want to work toward a future loan. Short-term loansThese business loans are lump sums often meant to be repaid in daily or weekly payments in less than a year—sometimes, only a few months. Short-term loans can be a good option for freelancers because you can be approved quickly, and some online lenders don’t have super-stringent credit requirements for borrowers. They tend to have higher interest rates than longer-term loans. But if you’re in a bind, this financing can really help. Business line of creditOne more excellent idea to help with cash flow is a business line of credit. Many online lenders can approve you very quickly for a high balance that re-ups (aka “revolving”) every time you pay it back. Plus, you only pay interest against what you draw. A lot of businesses—freelancers and major corporations alike—keep a line of credit in the wings for lots of different uses. So, if even if you don’t go this route now, you can always apply—it might be a good fall-back option for later, too. Improving your business loan oddsTheoretically, sole proprietors can access practically all of the financing options that S-corporations can. But the part you can’t control is how a lender views your risk—and that’s what affects your approval. You always have the option to change your business entity filing—and if you want to have better loan odds, you should. Compared to freelancers, corporations have higher success rates securing loans. At the end of the day, registering as LLC can give your business more credibility. It can also offer you tax benefits and legal protections. Meredith Turits writes about small business and finance—and has spent plenty of time as a freelancer herself. via Freelancers Union Blog https://blog.freelancersunion.org/2018/06/19/improving-your-business-loan-odds-as-a-freelancer/
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Too many freelancers in America have experienced harassment and discrimination with few legal protections or paths for recourse. The #TimesUp and #MeToo movements have recently shined a spotlight on the fact that these issues are painful problems that extend beyond any one industry or set of workers. Today in New York City, I’ll be offering testimony alongside some courageous Freelancers Union members in support a New York City Council bill that will clarify that the human rights code workplace protections extend to freelancers. While this would undoubtedly be a positive step, we need better laws to make sure that all freelancers feel safe at work. In order to help us push for legislative change, we need to hear from you -- how has this issue affected you? (Freelancers Union will not share your story without your permission). If you live in New York City, please write or call your City Council member to express your support for the bill introduced by Brad Lander: Int 0136: Protections for workers under the city’s human rights law. Freelancers deserve to be safe and protected from discrimination and harassment. Please join us in standing up for change. via Freelancers Union Blog https://blog.freelancersunion.org/2018/06/18/freelancers-deserve-protection-from-harassment/
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The Tax Cuts and Jobs Act (otherwise known as tax reform) has brought with it many changes for freelance taxpayers. Three of the key ones are highlighted below—with some helpful hints to mitigate your tax burden. The “backdoor” Roth IRA is still availableThe “backdoor” Roth IRA rules allow you to recharacterize your traditional IRA as a Roth IRA tax-free in order to by-pass the Roth IRA contribution limits. Here’s why you might want to do this: A Roth IRA is an individual retirement account in which you only pay taxes on contributions and all future growth is tax-free. The theory is that by paying taxes now, you can avoid higher tax rates in the future when you start using your retirement funds. However, if you earn more than what is allowable under the tax law, you cannot directly contribute to a Roth IRA. According to the IRS:
If your income is over this threshold, this is where the Roth IRA “back door” strategy comes in. You simply make a non-deductible contribution to a traditional IRA, then convert the contribution to a Roth IRA. Next, you’ll need to use the income phase-out rules above to determine how your conversion will be taxed. Essentially, if you don’t already have an IRA prior to doing a backdoor Roth IRA conversion, your after-tax contributions will be the same, regardless of whether you receive a deduction for the initial traditional IRA contribution or not. In addition, any funds in a Roth IRA aggregated through the back door conversion strategy are classed as converted funds, not Roth IRA contributions. This means that if you are under age 59½, you must wait five years to access those funds penalty-free. This stipulation does not apply if you make direct Roth IRA contributions, which are immediately available, tax and penalty-free. Key changes for popular itemized deductionsThe new tax reform rules also eliminate some favorite deductions for freelancers including:
These are just some of the miscellaneous deductions that are being eliminated; your tax professional can expand the list for you based on your unique needs. Moving expense deductions are also eliminatedIt used to be that if you relocated for work, you could potentially deduct the related expenses if they qualified under the IRS guidelines. Unfortunately, this deduction is now eliminated for everyone except armed forces members. These are just three of the key tax reform changes which may apply to freelancers. It’s important to keep up to date on these new rules so that you can take action now to reduce your tax burden and make sure that you are accurately tracking any tax deductions you may be eligible for. Jonathan Medows is a New York City based CPA who specializes in taxes and business issues for freelancers and self-employed individuals across the country. He offers a free consultation to members of Freelancer’s Union and a monthly email newsletter covering tax, accounting and business issues to freelancers on his website, www.cpaforfreelancers.com, which also features a new blog, how-to articles, and a comprehensive freelance tax guide. Jonathan is happy to provide an initial consultation to freelancers. To qualify for a free consultation you must be a member of the Freelancers Union and mention this article upon contacting him. Please note that this offer is not available Jan. 1 through April 18 and covers a general conversation about tax responsibilities of a freelancer and potential deductions. These meetings do not include review of self-prepared documents, review of self-prepared tax returns, or the review of the work of other preparers. The free meeting does not include the preparation or review of quantitative calculations of any sort. He is happy to provide such services but would need to charge an hourly rate for his time. via Freelancers Union Blog https://blog.freelancersunion.org/2018/06/18/3-key-tax-reform-changes-for-freelancers/ |
AuthorI have 5+ years experience working as a medical transcriptionist. When I am not working, I enjoy sports like playing basketball or judo. I love making friends and connections. Archives
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