Tips And Tools To Help You Save Time And Make Money Online
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Are you in a BAND? Or you’re part of a writer’s group or artist’s group and you want to publish a collective book?
Maybe you’d like to coordinate a group project somehow to create something for sale, but aren’t sure how to pay everybody?
People seem to come up with lots of great ideas for group projects that can earn them money, especially in times like these when money is so tight. The thing that has always stopped such efforts dead in the water is how the money is handled. Who do you trust? How do you account for income and expenses? What about taxes?
The trouble is, you usually need to have one person collect all of the income, then divvy it up proportionally to everybody else. Questions frequently arise in terms of the trust and integrity of this person’s actions. This is often not a task that many people want to do, so the group is often stuck with whomever they’ve got doing it, for better or worse.
Well, there’s now some software that can be used to automatically “split the profits” among any group of participants in whatever proportions are desired. Project participants are paid directly by the software, and payments are not subject to anybody dipping their fingers into the pot.
Furthermore, taxes are not an issue because project members are actually paid directly by customers. See, the IRS currently requires anybody being paid more than $600 a year (various limitations apply) to have that income reported to them via a 1099 for that tax year. If someone is collecting thousands of dollars of earnings and then disbursing monies to project members, it’s clear that whomever is playing the role of “banker” in that scenario probably needs to issue 1099′s at the end of the year to the various project members. This has a lot more implications than most people want to deal with.
That’s why this is such a great platform for running group projects! This software enables customers to pay group members directly. Assuming what you’re selling costs under $600, nothing needs to be reported (unless the tax laws change).
In this article, I’m going to explain how you can use this software to set up group projects for fun AND profit with minimal overhead and “trust issues”.
continue reading "Profiting from Group Projects"
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I’ve just posted a nice little tutorial on how to Profit from Group Projects as a Squidoo Lens.
It talks about how to set up a sales site that allows multiple people get compensated for their work automatically. You set up whatever percentage of income each person is to receive, then drive traffic to the site. Each person will be paid directly to their PayPal accounts in rotation, and will be paid in proportion to their designated percentage. It’s very cool.
Read about it here: http://www.squidoo.com/profiting-from-group-projects
Not everybody is skilled in all of the ways needed to pull off a powerful product development and launch, so many folks are interested in partnering with others who have complementary skills.
This approach allows everybody to effectively “split the profits” automatically without having to deal with trust issues or other potential problems.
Please post a comment and let me know what you think.
-David
Tags: extra income, group projects, make money, RAP, rapid action profits
I don’t know about you, but I get pretty tired of hearing about one court case after another that goes against common sense, decency, and even human dignity. But here’s one that came down yesterday (July 8th) that we in the Internet Marketing world really need to cheer about.
Unfortunately, due to the hullaballoo surrounding another crazy court case ruling in the same area the same day that got national, if not world-wide press, this case will probably go completely unnoticed by the news media.
To make matters even more tantalizing, the winning party in this case was a couple who used the internet to promote their business, and they represented themselves, pro se. That is, they couldn’t afford a lawyer, so they took on the largest automaker in the world in an appeal of a trademark suit all by themselves — appealing a case they’d already lost.
And they WON the appeal! WOO-HOO!
Trust me, THIS CASE IMPACTS YOU AND ME!
Here are a few snippets from the decision:
continue reading "Couple Wins Domain Name Trademark Dispute Against Toyota!"
Do you use portable Flash drives, aka “Thumb” drives, very much?
If so, I wanted to pass along a helpful tip on a service I was recently introduced to that you might find helpful. It’s a “cloud-based service” called DropBox.
They have a free option where you get 2GB of file space. If you refer friends, like through the link here, and they register for any level of service and install their driver, you both get 250MB more storage.
Here’s why I like it.
continue reading "Free Service Makes Thumbdrives Virtually Obsolete!"
So this is the final part of the story about how my dad became an”accidental millionaire”.
To recap briefly, my parents were both self-employed, and while my mom never managed to create an asset of value when she retired, my dad did. The thing is, he never really saw it that way, nor did he set out to accomplish that.
See, my dad was really only interested in not having to deal with employees. So when other real estate agents wanted to hang their licenses under him, he let someone else deal with it all. They had nearly 50 agents before they even started charging a monthly fee and formalized the 100% commission structure for agents.
They had a small office in central Phoenix, and I’d hang out there periodically. Agents would come from all over the valley, and would wait around to use the few computers to access MLS and other services.
I never understood why the office was so small and why they never expanded. One day I started rambling on about all the great stuff they could do to help the agents by getting better computers, adding on more internet services, and so on.
After several minutes, Duane interrupted me and said, “David,do you know who our BEST AGENTS are?”
continue reading "The Accidental Millionaire, Pt. 3"
The thing I noticed about my parents’ businesses was that they were both trading time for money. This is a classic situation for most professionals and people who act as “consultants” of any kind, including real estate professionals.
If you fit into this category, you’re not building up any kind of asset base on which to retire or leave to your heirs. My mom managed to save a lot. My dad was forever complaining that he never had any money. But that changed.
My dad became what I’d call an “accidental millionaire”. Here’s what led up to that.
For baseball fans, if that first article describes ”the wind-up”, this one describes “the pitch”. The next one will describe “the call”.
continue reading "The Accidental Millionare, Pt 2"
My father died back in 2002. He was 74, and he died earlier than he might have, had he not smoked for over 50 years. The smoking led to emphysema, which in the long-term prevents you from getting enough oxygen into your blood through your lungs. In essence, you suffocate. It’s not a pleasant way to go.
My mom died in 2000 of the same thing. They both started smoking in their early teens. If you smoke, I urge you to stop. It may not give you cancer, but it does kill lung tissue and causes various kinds of respiratory problems.
I’m unaware of any kind of medical equipment for infusing oxygen into the blood in the same way that our lungs do. If you’ve got kids and they’d like to make a huge difference in the world when they grow up, suggest they invent a blood oxygenation machine so people with respiratory disorders can have longer, more productive lives.
My dad never seemed very motivated to change the world. He was a child of the Depression Years, and as such he seemed to focus mostly on”survival”. Everything beyond the basics was considered a “luxury”. We rarely went on vacation, and when we did, everything was done totally “on the cheap”.
Throughout his life, with a few notable exceptions, he was always self-employed. He seemed to bounce from peddling one scheme to another, and finally fell into a groove of sorts when he got his Real Estate Broker’s License and started his own firm.
continue reading "The Accidental Millionaire, Pt. 1"
Tags: fathers day, millionaire
