TessMore Finance Blog

The Basel Committee on banking supervision started working on an international framework to enhance banking regulatory reforms and mitigate the risks. The Basel Committee started working immediately after the notorious global financial crunch in 2008. The current frame of proposed reforms for the banking industry is called the Basel III (03) or the third Basel accord. It aims to formulate a rigorous regulatory framework internationally agreed upon to mitigate banks’ liquidity and credit default risks. The Basel III accord aims to enhance banking industry security and creditworthiness, mainly addressing liquidity and capital requirements. Basel III is an agreed-upon accord by 28 international countries’ central banks. The current date of implementation of agreed-upon changes is set to January 2022. Its international participation aims to regulate international banks under a common framework and regulatory standards. Banks keep two types of capital, classified into Tier 1 and Tier

The most successful companies in the world were not established overnight. There is always a very long journey for the founders and management of the companies. Similarly, Walt Disney is a name everyone knows as one of the business icons in the world. However, few know about the struggles of Walt Disney, who started the business as a family-owned company. Many people wonder about the history of Walt Disney and how the family-owned company became the leading company venturing into several industries. In today’s article, we will talk about Walt Disney. We will discuss the owners of Disney and everything about the company’s business model. So let’s get into it. Key Takeaways Walt Disney Co. is a global entertainment company based in America founded in 1923. The diversified company is venturing into resorts, parks, media networks, films and movies, cruise lines, and consumer products & services. 35% of the revenues of the company come from Media Networks. The family of Walt

Are you a young teenager searching for a job or a parent ready for your teen to start making some money? While some businesses won’t hire anyone under 16 years of age, many companies are happy to employ teens at 14 or 15 years old. Most jobs will be entry-level and customer service-focused, but you’ll pick up valuable skills and experience that will come in handy throughout your lifetime. To help you think of job ideas, I’ve compiled the following list of jobs for 15-year-olds. Find out which companies are willing to hire kids as young as 15. Some of the names listed here might surprise you!  I’ve also added some online jobs you can do on your own. Let’s get started! Table of Contents Best Restaurant Jobs for 15-Year-Olds 1. Arby’s  2. Chick-fil-A 3. Ben & Jerry’s 4. Dairy Queen 5. Baskin-Robbins 6. Culver’s 7. Taco Bell 8. KFC 9. Pizza Hut 10. McDonald’s Best Grocery Store Jobs for 15-Year-Olds 11. Hy-Vee 12. Winn Dixie 13. Giant Eagle 14. Kroger 15. Pub

Definition: The term burden rate refers to the allocation rate of indirect costs to direct costs. Usually, it covers two areas, including labor and inventory. Companies allocate indirect costs to the direct costs for products or services through the burden rate. Companies incur indirect costs in many forms. However, these costs may not always be apparent. Companies sometimes also refer to them as hidden costs associated with running operations. Usually, they include unknown variable costs that can create issues in determining product costs. Companies must apply those indirect costs to their direct costs to understand their processes better. Direct costs, in contrast, are much easier to establish. Usually, companies calculate these costs as they incur them during production. Direct costs include any expenses directly occurring due to manufacturing products . For service firms, they consist of costs directly attributable to the process of rendering services. However, these costs do

You have the idea, the drive, and hopefully the funding, but as a small business owner, you’ll be faced with a plethora of decisions from conception to day-one operations. Choosing the right financial institution is not the least of them. Here are 8 essential banking tips that could help. Careful consideration needs to be taken when banking on your financial services provider. Small businesses account for 99.9 percent of businesses in the United States, the Small Business Administration reports , so it’s no surprise that most financial institutions are vying for your business. Unsurprisingly, more than two-thirds (79 percent) of respondents in a survey of 600 small business owners (with an annual revenue of up to $20 million) use the same financial organization for both their personal and business financial needs, according to the Banking Administration Institute , a Chicago-based nonprofit financial services research firm. Yet another survey , by PwC, of 570 small and medium-siz

A great way to track work-related mileage is through Hurdlr . It’s an app designed to make life easier for freelancers, independent contractors, and other professions that need help tracking income, expenses, and mileage. By using Hurdlr , you’ll also be able to estimate your tax burden and track tax deductions throughout the year. How You Use Hurdlr for Taxes Ideally, you’ll use one specific bank account for your business expenses and income. Once you’ve linked your account, Hurdlr is able to track income and expenses easily . You can also link Hurdlr to services like PayPal, Square, Stripe, Freshbooks, and others to stay completely synced. How Does Hurdlr Track Mileage? There’s a mileage tracking function that runs in the background and tracks mileage automatically. It can even integrate with Uber’s app. There’s no need to manually track your mileage anymore. Hurdlr tracks everything efficiently and automatically . It keeps track of deductions, reimbursements, and so much

D o you drive for your job or business? Then you might be eligible for a mileage deduction. Here is an easy-to-understand guide to the IRS standard mileage deduction. Happy filing! In 2023, you can deduct 65.5 cents per mile driven for business uses. If you drive a lot, either for your business or for an employer who doesn’t reimburse your expenses, keeping careful track of your miles will give you the biggest tax deduction. 1. What Kind of Driving is Deductible? If you drive for business in some way and your employer does not reimburse you for gas, those miles are eligible for the deduction. Common jobs which accrue deductible miles include realtors, sales, and contractors. In addition, miles logged for charitable organizations and medical or moving expenses can also be deducted. Here’s the full list: Business Use : $0.655/mile Medical, Moving Purposes (active duty only): $0.22/mile Charitable Organizations : $0.14/mile 2. Is it Worth My Time to Log the Miles and File th

T here are several financial benefits of working from home. And not just for the employee. The employer can benefit too. I’ve been working from home for several years now since I quit my day job . And my team of three employees is entirely remote. I’ve loved it. If you’re interested in testing this out for yourself, stick around. I feel like I can give some honest feedback about the financial benefits of working from home (wfh). Financial Benefits of Working from Home [for Workers] 1. Lower Car Insurance That’s right. One of the first things I did once I no longer had a commute was to call my car insurance company and tell them my commute had changed. With fewer estimated annual miles on your car, they’ll likely lower your premium. This didn’t save a great deal for me. I saved around $10 on my monthly premium payment. My commute wasn’t bad before. But it’s a small savings I’ll gladly take towards more affordable auto insurance . How much can you save? That depends on how many

Update: Currently it is estimated that taxpayers will have ( according to the IRS website ) until April 18, 2023, to pay and file their 2022 taxes. Head’s up…many post offices stay open later on tax day to ensure you get your return filed. Tax Penalty if You Don’t File on Time You will be penalized 5% (of the amount of additional taxes you owe beyond what you paid in) each month you haven’t filed. This penalty maxes out at 25% of the additional tax you owe. So if you owe $100 in additional taxes, after April 15th you’d owe $105 ($100 plus the 5% penalty). Wait to file more than 60 days after the tax deadline and you’ll face a minimum penalty of $435 or 100% of your tax, whichever is the smallest. Important note . Always file even if you cannot pay. The penalties for not filing listed above are much steeper than the penalties for not paying. The failure to pay penalty is onlu 0.5% for each month you don’t pay, capped out at 25%. If you can’t file a complete return, file an exte