TessMore Finance Blog

I make thousands in passive income from this blog each month. And I had no initial funds to spend on this blog when I got started. I just started with the free tools available to me. Are you looking for how to generate passive income with no initial funds? You’re in luck because there are plenty of options out there – not just blogging. Here are five creative ways you can generate passive income without investing any money upfront. How to Generate Passive Income with No Initial Funds Let’s dig into each of these ideas so you can start making that push to passive income. 1. Rent Your Stuff You likely have quite a few possessions that you rarely use, from a spare room to evening gowns, sports gear, or even an automobile that you only drive occasionally. Why not make the most of them by renting them out and generating some extra income? With no fuss and minimal effort, making money with your items is an easy way to earn part-time money without taking up too much of your time.

You’ve likely heard the stories about the IRS being notified when you deposit a large amount of cash. But what happens when you deposit over $10,000? Who is responsible for reporting large deposits? And what will the IRS do if you deposit large amounts of cash? We answer these questions and more in this article.  Table of Contents How Much Cash Can You Deposit Without Being Reported to the IRS? Do Banks Report Smaller Cash Deposits? Who Has to Report Large Cash Deposits? Why Does the IRS Require Reporting of Large Cash Deposits? What Is the Penalty for Not Reporting Large Cash Deposits? What Is the Penalty for Splitting Up Large Cash Deposits? FAQs Final Thoughts How Much Cash Can You Deposit Without Being Reported to the IRS? The answer to that question is a tricky one. The Internal Revenue Service (IRS) requires that financial institutions report all individual or business deposits over $10,000. That means you can deposit up to $10,000 without your bank reporting i

A s a self-employed business owner, you may be looking for the right kind of plan to save for retirement . But it is easy to become overwhelmed about which is best for your situation or company. The SEP IRA may be one of the most effortless accounts for self-employed individuals to set up and keep going. It may also be one of the less costly plans for business owners. It certainly requires much less time spent on paperwork than a traditional 401k account. I know. I’ve had both. A SEP IRA account has many advantages over other retirement accounts, but only after carefully considering the pros and cons against other types of retirement accounts should you decide. If you are an employee of a small business or self-employed, you can enroll in this account. Only the employer will make contributions to the account. What is a SEP IRA? The SEP in the SEP IRA stands for ‘Simplified Employee Pension.’ This account is essentially like a traditional IRA account but allows for much higher

T oday I will explain how to build a CD ladder (i.e. certificate of deposit ladder) to create some passive income. In short, a CD ladder is a group of CDs you might invest in that are set to expire at successive dates. Cash from an expiring CD is used to reinvest in another CD one period older than the oldest CD currently in the ladder. The CD Laddering Strategy Explained Okay, here’s how you build a CD ladder. You’ll first need to determine what type of ladder you’ll want. Does this ladder have big rungs (yearly) or many smaller rungs (monthly)? If the maximum you can bear is without all your funds in 1 year, then a monthly ladder is right for you. If this money is just extra savings you don’t mind waiting five years on, you can do the yearly ladder. This may be a good option for ultra-risk-averse people who don’t want to be in the turbulent stock market. For our example, let’s say you select yearly. It’s the quickest to set up, anyway. Do some research and find the highest

A s a business owner, receiving my 1099s each year puts me in the mood to start preparing my taxes . But what if the income on the 1099 misc does not match income received? What Should You Do with an Incorrect 1099? In short, if you receive an incorrect 1099, reach out to your client and try to correct it. If this doesn’t work, contact the IRS at (800) 829-1040 for instructions. You may have to include a letter with your tax return stating why there is a discrepancy. In this article, I’ll answer some more questions regarding 1099s. Including what to do if it’s incorrect, it is duplicated, or missing. An Example: 1099 Misc Does Not Match Income Received Now for a helpful example… Last year, my friend Jason did some independent contractor work for a venture capital-backed company in Houston, about four or five hours away from his home in the Dallas-Fort Worth metroplex. He would travel and stay in Houston on the weekdays and return home on weekends. Jason paid for his expenses

“To Whom It May Concern” has traditionally been used as a formal salutation in cover letters and other business correspondences.  It’s been around for decades, so odds are that you’ve seen it in one form or another. These days it’s overused (and sometimes misused) by people all over the world.  Salutations are your first impression with hiring managers or potential business leads. The wrong choice can make them feel like you haven’t researched the position, and a great one can set the tone for a great relationship.  By reading this article you’ll know exactly when to use “To Whom It May Concern” and when to avoid it like the plague. Plus, we’ll even throw in some handy alternatives you can use next time you’re on the fence.  Table of contents Why people use “To Whom It May Concern.” When to use “To Whom It May Concern.” The correct way to use “To Whom It May Concern.” When to avoid using “To Whom It May Concern.” “To Whom It May Concern” alternatives. Let’s get started! Wh

If you’re looking to get the best interest rate on your short-term savings, your best option is likely an online high-interest savings account . But with so many options, it can be hard to decide where to place your money. The Marcus Online Savings account and the American Express Online Savings account are popular options. Both offer attractive interest rates and no monthly fees. But while you can’t really go wrong with either account, I’ve created a head-to-head comparison to help you determine which is better for your money. Table of Contents Marcus vs. Amex Savings: Key Features Summary of Features American Express Online Savings Review Other Products AMEX Pros AMEX Cons Marcus Online Savings Review Other Products  Marcus Pros Marcus Cons Amex vs. Marcus: Which One Should I Choose? Marcus vs. Amex Savings: Key Features To begin our comparison, here’s a chart summarizing the main features of the two accounts. From there, we’ll dig into the details of bo

N ervous about your upcoming part-time job interview? Don’t be! We’ll help you to ensure you hit it out of the park. To equip yourself with confidence, check out our list of popular part-time job interview questions and learn how to answer them like a pro. What Part-Time Job Interview Questions Should You Be Ready For? So you’re applying for a part-time job ? Here’s a list of the common questions you should be ready for. This isn’t a complete list, but it’s a great place to start (and we’ve go 60 more below): “Why are you interested in this part-time position?” Seize this moment to demonstrate your passion for the job and organization. Mention specifically why you are an ideal candidate, citing relevant skills and experience; explain how this role suits your career objectives in the long term. “What are your availability and schedule like?” Employers must comprehend your availability to ensure you can be present during the job’s required hours. Be honest and transparent about y

I f you told me half a decade ago that I would be making a great living creating content on YouTube, I would have thought you were crazy. But, believe it or not, that is the exact position I find myself in. I even wrote a book about this journey called “ From Side Hustle to Main Hustle to Millionaire .” But let me tell you. It is very different to run a YouTube channel as a business rather than a hobby. When relying on income from the channel, it’s much harder to withstand the wild fluctuations that can happen with views and corresponding ad revenue. Luckily, I figured out the solution to this problem–income diversification. What Are the Ways to Make Money on Youtube? The most common way to make money on YouTube is through ad revenue. But you can also make affiliate sales, sell your digital products, and get off YouTube through blogging or physical products. By having many different sources of income, they have the potential to offset each other. Maybe the YouTube ad revenue is d