Monday, October 31, 2016
How to Drive Traffic to Your Online Business
Welcome to the 7th installment of our podcast series on launching your own, profitable website or blog. I’m glad you’ve stuck around and hope you’re learning a lot.
In past posts, we’ve talked about picking the right domain name, setting up your WordPress site, and content strategy. Today, we are going to talk about driving traffic to that awesome site you’ve now built.
Where Does Site Traffic Come From?
Whether you’re blogging, selling your wares, or posting YouTube videos for the world, one of your biggest goals is to increase traffic. You want as many people as possible reading your articles, listening to your podcast, and browsing your online store. So, how do you direct those people to your site?
Well, there are a number of ways people can find your site. Some of the more common avenues are search engines – like Google, Yahoo, or Bing. Social media is also a very popular source, and includes things like Facebook, Reddit, Instagram, Pinterest, or Twitter.
YouTube videos are a great place for people to find you, whether you want them to simply follow your channel there or click back to your website. Same goes for podcasts – people can subscribe through iTunes and follow you there. I can also mention a URL in the audio of my podcast, which may lead some people to go online and check it out.
You can also get traffic through referral links. This is simply someone coming across a link to your blog or site on another blog or site, and then following that link to one of your pages. We try to include pertinent and helpful links in most of our Dough Roller pages, guiding you guys to other sites that may be useful. This can be a great source of traffic.
Sure, But How Do I GET That Traffic?
Now that you know where traffic can come from, you’re probably wondering how to get that traffic. How do you make it actually happen?
This is the goal of every blogger, every vlogger, every online business, and anyone else who wants to make money from their site and get their hard work out to an audience. It’s a process and won’t happen right away. With diligence and effort over time, though, a solid traffic base can form and, hopefully, grow exponentially.
I’m going to give you my top ten tips for generating site traffic. While I could probably lay out 1,000 of them for you, I think these ten are very actionable and will help you start drawing in views today.
Keep in mind that you could choose to double down on any one of them. Some websites only worry about search engine traffic, for example. They spend all of their time and effort on building a strong SEO for their site, and generating traffic that way. Others may only focus on social media followings, and directing traffic to their site that way.
Whether you choose to spread your efforts over multiple avenues or focus on just one, it’s up to you.
1. Pick one social media platform
There are a ton of social media options out there, as I mentioned above. The most popular are Facebook, Instagram, Twitter, Pinterest, and Reddit. It’s easy to set up an account, and all of them are free. You can also use apps or plugins to automate the sharing of your content, which makes them easy to use. However, unless you spend some real time and energy into a platform, you’re not going to get a whole lot out of it.
My recommendation would be to pick the social media platform that best fits your niche, and devote 99% of your time to it. If you’re a cooking blog with lots of recipes, Pinterest may be your best option. If you’re sharing new stories and writing informative blog posts, Facebook might be the winner. (I personally think that a lot of people are more Facebook-adept.) The guy I mentioned last week, Blender Dude? Well, YouTube is absolutely the platform that is working best for him.
Part of an effective social media presence is curating the content in your niche from other blogs and websites. Yep, you want to share more than just your own stuff. This gives your followers some variety, and allows your page to be a bit more informative than if you only posted your own articles and ideas. It also helps you connect with other websites and bloggers in your field.
So, pick one social media platform to direct the majority of your focus on, and dive in. Connect and communicate with followers, open conversations, build relationships, and share content other than just your own. This can be a great way to build a loyal fan base and direct traffic to your own site.
2. Start a Facebook group
I know many of you may be thinking that this should be in the last category, but I feel it needs one of its own. Yes, Facebook is a social media category, but Facebook groups are a whole different animal.
Groups are by invitation or approval only – if someone wants to join, you have to allow them to do so, based on your own criteria. I can tell you that the Dough Roller group has been a huge success. I’ve learned a ton from these guys, and everyone is incredibly helpful to other members.
People ask questions on there all the time and get sometimes 10 responses before I can even jump into the conversation. It’s a great resource for everyone. There are about 600 members right now, and you can join if you want! We’ve formed a friendly community where everyone helps each other, and I would highly recommend starting one for your own business.
3. Collect emails
I didn’t do this when I first started Dough Roller, but would recommend it to you. Start collecting emails off the bat, and send out a newsletter. Sure, in the beginning, you might be sending that newsletter to a handful of people each week. But don’t let that discourage you.
Most of the traffic that comes to your site will visit and then leave. They may or may not generate revenue for you, and they may never come back. Collecting emails is a great way to develop a relationship with that person, and get them to continue coming back to your site.
Over time, a newsletter list can turn into a pretty significant source of traffic. In fact, email traffic is Dough Roller’s third largest traffic source! I didn’t really put any effort into the newsletter until about three years ago, but now I have 25,000 subscribers.
I currently use GetResponse, which I’m happy with. If you’re just starting out, though, I would recommend a site like MailChimp. It doesn’t work for those with large subscriber bases, but for new or smaller companies, it’s great. You can have up to 2,000 subscribers and 12,000 emails per month before you have to switch to one of their paid plans.
My recommendation for encouraging new visitors to give you their email, would be to offer some sort of helpful product. Maybe you create a one-page PDF with relevant tools, tips, or resources. Whatever your readers would find valuable. And maybe you offer that to them in exchange for signing up for your newsletter. That might be all it takes to start building that reader base.
4. Find a bigger company and contribute there
This may seem impossible at first, but I would recommend finding a major blog or website in your niche, and contributing to their content. This builds your credibility, gets your content and perspective out there, and can draw traffic back to your own site.
More and more big websites are building their contributor networks. Sites like AOL, Forbes, and Fortune are all doing this. I’m sure your niche has many options, too.
Just know that you won’t get a flood of traffic from it. Just because Huffington Post gets hundreds of thousands of pageviews doesn’t necessarily mean that your article on their site will get an incredible amount of those visitors itself. But, you will get some. And, you will get your name out there.
Make sure that the content you submit is very good. Make sure that it really represents you, your company, and your abilities.
5. Use your expertise to draw in traffic
This one is sort of related to the last, but a bit different. If you have some area of expertise outside of your own site’s niche, use that to generate traffic, as well.
For example, say you just started a blog about saving money. But maybe you are also an expert in rebuilding cars, and it’s a passion you’ve had since you were young. You could find a bigger, more popular website about car restoration and write an article for them.
It may not be a related niche, but you can use it to your advantage. Writing for that blog will get your name (and the name of your website) out there to a bigger and broader audience. In turn, it will also help generate new traffic.
6. Start a podcast
More work, I know, but welcome to blogging! If you can make the time, adding podcasts to your repertoire allows you to get your name to an even bigger group, and can be a very valuable tool.
Ranking in iTunes will allow you access to an audience you wouldn’t otherwise reach. Dough Roller is currently getting about 10,000 downloads per episode, and some of those people wouldn’t have otherwise found (or returned to) my site. But they like the podcasts, so it works!
Creating helpful content in a medium that some people prefer (and can listen to on their commute) will help solidify your reader base. Plus, it’s really easy.
As mentioned before, I use Garage Band for my podcasts, along with a Heil PR 40 microphone. You can get a cheaper one, though, and it’ll be fine. But that’s it for the investment. Then, just hit record and off you go.
7. Network, network, network
I cannot stress the importance of this. It’s key for so many reasons.
You’ll learn a lot from other bloggers in your niche, first off. My connection with other bloggers has been a huge factor in the success of the sites that I have. I belong to a mastermind group of about 12, and we meet once a year. I also go to the FINCON expo every year and meet a lot of bloggers there. Starting out, you may not know anyone, so you’ll need to just introduce yourself. But that network is helpful for learning new things, and can also generate traffic.
For example, a good friend of mine is Jay Money, who blogs at Budgets are Sexy and also has a site called Rockstar Finance. He just curates content from other personal finance blogs – that’s it. His site is entirely based on linking out to other finance blogs. He picks what he thinks is the best content, and let me tell you: the times that he’s linked to Dough Roller, it’s brought in a flood of traffic.
You can find sites like that in pretty much every niche. Send them a message, link to your best and most relevant content, and see what they say. Of course, they won’t link to you just because you send them an email. Your content needs to be great. But if it is, they’ll probably link to it.
9. Don’t just guest-post anywhere
A guest post is when you write for another blog or website. I mentioned writing for the major sites in your niche, but you can also just write for other, smaller blogs in your niche. It’s great for networking, as well as generating traffic back to your site. Just make sure to do it judiciously.
Guest posting got a bad rap a few years ago, thanks to some people who were abusing the system. They were guest posting anywhere and everywhere: good blogs, bad blogs, spammy blogs, blogs without any traffic, etc. They were including five, six, seven, or more backlinks to their own pages in these posts. So, why would they do that?
Well, they figured out that Google was assessing search engine placement based on links from other websites. So, if a lot of other websites were linking back to your site, it was considered “valuable” to Google and bumped up in the rankings. Well, once folks figured that out, they started throwing their links in guest posts everywhere they could.
Of course, Google found out about this spamming and reconfigured their ranking system. Now, the backlink overload can actually hurt your placement in the search engines.
Guest posting every once in a while won’t hurt your placement and will help generate traffic. But make sure that you choose the other sites wisely. Don’t post on sites that get little-to-no traffic – there’s no point. Don’t accept every offer that comes around; be particular about where you put your name and your work.
I personally ask myself whether I would guest post on a site if there were absolutely none of the perceived SEO benefit. If the answer is yes, I’ll do it. For example, you might accept an offer to write for Huffington Post simply because you enjoy the site or want to get your name out there – it wouldn’t be just to improve the SEO of your site.
If I come across an offer where I’d only consider it for the SEO, I go ahead and decline.
Another source for guest posting would be those with whom you develop an advertising relationship with. Say you utilize a company’s affiliate marketing program on your website. Many of these companies have blogs of their own, and are happy to let you write there.
One example is Personal Capital. I don’t think I’ve ever written for them, but they have a blog. I’m sure I could reach out and they’d happily let me guest post. It’s a great site, perfect in my niche, and gets lots of traffic. Am I doing it just for the SEO? Absolutely not. So, this would be a good example of somewhere I might guest post.
10. Give something away
We’ve all seen giveaways used to generate traffic and interest in a company. That’s because they work.
I haven’t done a giveaway in awhile, but it’s a popular option. If you can offer up a big prize that’s relevant to your niche, like an iPad, it can get some attention. A lot of people are interested in free stuff, after all.
There are plenty of ways for people to enter. They can subscribe to your newsletter, follow your Pinterest page, or tag their friends in a post (which builds an even bigger audience). You can also set up an entry form, and there are even plugins through WordPress for this.
You certainly don’t have to use a giveaway, but it’s a great way to give yourself a head start. It can gain a lot of attention for your blog and even earn some new email subscribers.
Get Started
Okay, so I’ve given you ten tips that you can put into place immediately. You can start today, garnering new traffic for your blog. As I said, we could have gone over 10,000 of them, but these are doable and easy to implement now. Plus, they ought to keep you busy for a bit.
Have you tried implementing any of these for your own website? What was the response?
The post How to Drive Traffic to Your Online Business appeared first on The Dough Roller.
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Top 5 November Activities at Mission Bay Aquatic Center!
Just because it is November doesn’t mean the San Diego fun stops! The Mission Bay Aquatic Center is one of the world’s largest instructional waterfront facilities right here in San Diego and is owned and operated by Associated Students of San Diego State University and UCSD Recreation. MBAC offers awesome water activities all year round and is open to students, faculty/staff and the public!
Come check out Top 5 things to do at MBAC this November:
- Learn to sail. Basic Sailing classes begin November 5 and November 19.
- Go wakeboarding or wakesurfing. The Wakesports Freeride Sessions on November 5, 6, 12, 19, or 20 are only $59 for students for a three hour session and is open to all skill levels.
- Take a surfing class. Classes begin November 5, 12, or 19 with one, two, or four-day options. MBAC provides all equipment and instruction.
- Enjoy a moonlight excursion. Moonlight kayaking and stand up paddling excursions on November 12 offer an incredible view of the night skyline from the water.
- Try yoga on a paddleboard. On November 19 you can test your balance while in a relaxing environment in a paddleboard yoga class.
For more information or to register for any of these classes, visit mbaquaticcenter.com
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Hawthorne by Pennyfarthing
Pennyfarthing Homes brings a stunning new development to Vancouver’s West side. This amazing development will consist of 1-3 bedroom residences ranging from 680 sq ft to 1,433 sq ft over 7 storeys.
The Hawthorne is situated next to the lovely Queen Elizabeth park and just a short walk along Cambie will bring you to the Oakridge mall where you will satisfy all you shopping and dinning needs.
Pricing has not yet been determined. Please register and join our VIP list to be one of the first to receive information
The post Hawthorne by Pennyfarthing appeared first on Vancouver New Condos.
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Hawthorne by Pennyfarthing
Pennyfarthing Homes brings a stunning new development to Vancouver’s West side. This amazing development will consist of 1-3 bedroom residences ranging from 680 sq ft to 1,433 sq ft over 7 storeys.
The Hawthorne is situated next to the lovely Queen Elizabeth park and just a short walk along Cambie will bring you to the Oakridge mall where you will satisfy all you shopping and dinning needs.
Pricing has not yet been determined. Please register and join our VIP list to be one of the first to receive information
The post Hawthorne by Pennyfarthing appeared first on Vancouver New Condos.
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Do You Need a Sole Proprietorship, an S Corp, or an LLC?
Creating your own small business is a huge endeavor, which comes with a number of important decisions. One of the most important decisions you’ll need to make is how you structure your business.
This choice will have major legal and tax implications down the road. Choosing between a sole proprietorship, LLC, and S Corp for your company’s structure is not something you should take lightly. These are three common structures for small businesses — and each one has its own advantages and disadvantages. Here’s a rundown of all three to help you decide which is best for your business.
Sole Proprietorship
When you first start your business, you are legally considered a sole proprietorship until you structure yourself otherwise. As a sole proprietorship, you are doing business under your own name.
Because there is no separation between the owner and the business, your personal assets are lumped together with your business assets. The advantage is that the business’ assets also become your own. The disadvantage is that if someone sues you, he/she can go after your personal savings and property in addition to your business money.
Read More About Asset Protection Planning
Many people stay as sole proprietorships because it’s simple and cheap. You essentially don’t have to do anything to structure your business this way since it’s the default.
Sole proprietorships are great for people who have a hobby that makes them money. For example, if you sell crafts on Etsy as a side business, staying as a sole proprietorship may be just what you need.
In this business structure, you won’t have to file a separate tax return. Your business income and expenses are reported on your personal tax return with any other income you receive from other jobs and any other expenses you acquire. You pay a similar tax rate to what you pay on taxes from an employer. You’ll just pay an additional self-employment tax on the income from your business.
LLC
Once your small business reaches a higher level of revenue, you’ll want to structure your business in a way that protects you more than a sole proprietorship does. The next logical progression is a Limited Liability Company, or LLC.
This option offers the same tax implications as a sole proprietorship but comes with a major legal benefit. Since an LLC is its own business entity, your personal savings and property are protected (subject to some exceptions) in the event that someone decides to sue your company. Of course, you’ll have to accurately keep your business finances separate from your personal finances in order to properly protect your personal assets.
Structuring your business as an LLC comes at a cost. The price tag on the filing fee varies from state to state, and can also involve the cost of using a legal service (such as Legal Zoom) if you’re not comfortable setting it all up on your own. For example, the filing fee to form an LLC in New York is $200 while the same process costs only $90 in Indiana. Legal Zoom charges an additional $149-$369 to facilitate the paperwork on your behalf.
S Corp
An S Corporation is the most difficult and expensive business structure to form of the three. Given this, you may wonder why a small business owner would decide to structure his/her business as an S Corp. The answer is because there can be tax advantage to being an S Corp.
Unlike a sole proprietorship or an LLC, S Corps do not pay taxes on all revenue of the business. As an S Corp, you only pay taxes on the salary you decide to give yourself. The IRS requires you to pay yourself a “reasonable” salary for the work you perform.
Let’s say your business generates $100,000 in a year. As a sole proprietorship or LLC, you’d have to pay self-employment taxes on all of that revenue. If your business is structured as an S Corp and you give yourself a salary of $50,000 (which is reasonable for most work performed), you’d only have to pay self-employment taxes on that $50,000. The other $50,000 only requires payment of regular taxes. You would, however, be required to pay payroll taxes.
Read On: 11 Benefits of Being Self-Employed
As you can see, the more your business grows, the more attractive an S Corp structure will be financially.
Of course, the issues are complex so it’s critical that you consult with tax and legal experts before making any decisions.
LLC Taxed as an S Corp
There is one more option for small businesses: an LLC taxed as an S Corp. This gives you the best of both worlds. You get the liability protection and low cost of setup that comes with an LLC, while getting the tax advantages that come with an S Corp.
This structure requires a special IRS filing. This structure usually emerges when a small business owner has an existing structure as an LLC and begins to make a lot more money.
Which Is Best For Your Business?
To aid you in your decision, here’s a quick table that sums up the pros and cons of each structure:
| Sole Proprietorship | LLC | S Corp | |
| Setup Process | Easy | Moderate | Difficult |
| Setup Cost | Low | Moderate | High |
| Tax Advantages | Must pay self-employment tax on all income | Must pay self-employment tax on all income | Pay self-employment tax only on elected salary |
| Liability Protection | None | Personal assets are separate and protected | Personal assets are separate and protected |
A sole proprietorship is a good option for those who have a side hobby that earns them a little bit of money. It’s the default business structure if you don’t file any papers with the IRS. The main downside is that your personal assets are not protected in the event that someone decides to sue you. Also, you must pay self-employment tax on all of your income.
An LLC is a natural progression once your side hobby becomes more lucrative and transitions into an actual small business. There is a cost to structure your business as an LLC with the IRS; and that cost varies by state. The main advantage here is that your personal assets are separate and protected. Like a sole proprietorship, you are required to pay self-employment tax on all income generated by your business.
For those who are making decent revenue from their business, an S Corp may be the best option. This structure requires you to only pay self-employment tax on your elected salary, which must be “reasonable” according to the IRS. This can result in major savings depending on how much revenue your small business generates.
As previously mentioned, another option is to structure your business as an LLC and have it taxed as an S Corp. This gives you the benefit of protecting your personal assets and keeping IRS filing costs low while getting the tax advantages of an S Corp.
Which business structure you choose will depend on how much revenue your business is currently generating and how much revenue you expect it to generate in the future. No matter which structure you choose, you can always change it at the beginning of the next tax year.
If you need assistance in deciding which structure is best for your business or need help filing the papers with the IRS, it’s best to consult a tax expert or small business attorney.
As we said before, the issues are complex. It’s critical that you consult with tax and legal experts before making any decisions.
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Sunday, October 30, 2016
Insulated Winter Hiking Boots FAQ: Expert Advice
There are three kinds of winter hiking boots: insulated winter hiking boots, mountaineering boots, and pac boots. Which kind of winter hiking boot is right for you? Here’s a detailed guide that explains the differences between these so you can pick the right footwear for winter hiking, snowshoeing, winter backpacking, and winter mountaineering.
What should you look for when buying a pair of winter hiking boots?
What should you look for when buying a pair of winter hiking boots?
- Keen Summit County Winter Boots
- Columbia Men’s Bugaboot III
- Salomon Toundra Mid WP Winter Boot
- Merrell Moab Polar Waterproof Winter Boot
While all winter boots are compatible with traction devices like microspikes and snowshoes, it important to make sure that they don’t create undo pressure when attached to your boots that can lead to discomfort and blistering. Crampons are a little trickier, since you need the right type of crampon to work with the insulated winter hiking boots described above. This is explained further below.
What are the differences between insulated winter hiking boots and mountaineering boots?
What are the differences between insulated winter hiking boots and mountaineering boots?
- La Sportiva Nepal EVO GTX Mountaineering Boots
- Scarpa Koflach Acrtis Expe Mountaineering Boots
- Lowa Mountan Expert GTX EVO Mountaineering Boots
There are two types of mountaineering boots, single layer boots and double boots. Single layer boots are intended for day hiking in alpine terrain, unprotected by tree cover. Double layer insulated mountaineering boots have removable liners which make them warmer for people who get cold feet. They’re also preferred for overnight and multi-day trips, since the liners can be removed and put into your sleeping bag to prevent them from freezing overnight.
What are the differences between insulated winter hiking boots and pac boots?
What are the differences between insulated winter hiking boots and pac boots?
Pac boots are designed to keep your feet warm in the harshest weather conditions but are ungainly for walking and snowshoeing because they are heavy, they run up well above the ankle, and they have very poor ankle support. In general, pac boots are best used for less vigorous winter activities like snowmobiling, hunting, or ice fishing.
Why can't I use my regular hiking boots for winter hiking?
Why can't I use my regular hiking boots for winter hiking?
How important is it to have Gore-tex or waterproof/breathable insulated winter boots?
How important is it to have Gore-tex or waterproof/breathable insulated winter boots?
How accurate are warmth ratings for boots?
How accurate are warmth ratings for boots?
How much insulation should winter boots have?
How much insulation should winter boots have?
What are the most popular forms of insulation in winter hiking boots?
What are the most popular forms of insulation in winter hiking boots?
What are the most important features to look for on insulated winter hiking boots, beyond waterproofing and breathability?
What are the most important features to look for on insulated winter hiking boots, beyond waterproofing and breathability?
Temperature rating: While you need to take manufacturer’s temperature ratings with a grain of salt, they are a good indication of the relative warmth of a boot.
Amount of insulation: While it’s difficult to make warmth comparisons between boots that have different kinds of insulation, knowing the amount of insulation used in boots can help you compare the warmth of different models made by the same manufacturer.
Reinforced toe cap: In addition to providing kick protection, a sturdy toe cap won’t collapse the front of the boot and potentially cause blisters when used with tight-fitting microspikes or crampons.
Gusseted tongue: This is just like a regular boot or shoe tongue, except the sides of the tongue are closed and sewn to the interior of the boot. This helps prevent water from leaking through the laces and into the boot when you step in deep puddles.
Cuff: The top of your boot, where it surrounds your calf is called the cuff. Looks for boots with a soft cuff that closes off the gap between your leg and boot while staying comfortable during a long day of hiking. It will also trap heat and prevent snow from falling down your boot if you have to walk through deep snow.
Lugs: The soles of your boots should provide good traction when walking on loose or packed snow. Look for boots with a deep tread like a Vibram sole. When walking on ice, you’re likely to augment your boot with traction-aids like microspikes or crampons.
Gaiter ring: A gaiter ring is a small ring attached to the top of the toe box that you can hook your gaiters onto to prevent them from riding up your leg. It’s not the end of the world if your boots don’t have one: you can still usually hook the gaiter to your boot laces, but most insulated winter hiking boots have them.
How should winter hiking boots fit?
How should winter hiking boots fit?
How can you avoid getting blisters in winter hiking boots?
How can you avoid getting blisters in winter hiking boots?
What are microspikes?
What are microspikes?
What kind of crampons are compatible with insulated winter hiking boots?
What kind of crampons are compatible with insulated winter hiking boots?
- Hillsound Trail Crampon Pro
- Kahtoola KTS Hiking Crampon
- Grivel Air Tech Light New Classic Crampon
- Petzl Irvis Flexlock Crampon
- Petzl Leopard Flexlock Crampon
- Black Diamond Neve Strap Crampons
These attach to your boots with what are called universal bindings, plastic hoops that wrap around your heel and the front of your boots and are secured using webbing straps. They’re not intended for ice climbing but are good for walking across crusty snowfields and low angle ice.
Are insulated winter hiking boots, mountaineering boots, and pac boots all compatible with snowshoes?
Are insulated winter hiking boots, mountaineering boots, and pac boots all compatible with snowshoes?
How often do you need to replace winter hiking boots?
How often do you need to replace winter hiking boots?
This is an actively monitored web page, so if you have any questions, please leave a comment below.
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Friday, October 28, 2016
Looking Up: How Your Small Business Can Benefit by Acting Like a Big One
When it comes to business, one can make the argument that size is everything. As a company expands, it will undoubtedly undergo a metamorphosis that will distinguish itself from it’s freshmen class of competitors. Once this progression occurs, making comparisons … Continue reading
The post Looking Up: How Your Small Business Can Benefit by Acting Like a Big One appeared first on Chicago Accountant.
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Small Business, Big Economy: Five Tips to Stay Ahead of the Curve When Wall Street Starts Going Down
With the never-ending ups and downs of the economy, the stereotypes of stockbrokers on Wall Street are far from surprising. While the window jumping, hair ripping, self destructive shenanigans of brokers may seem something far removed from the world of … Continue reading
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Hawthorne by Pennyfarthing – An Elite Collection of 44 Luxury Cambie Condos
At a Glance
- 7-storey residential concrete building
- 44 1- to 3-bedroom condominiums
- 3 levels of underground parking
- prime Queen Elizabeth Park location
- minutes from Oakridge Centre shopping
- easy access to Canada Line
- goal of LEED gold rating
Above All Else
Pennyfarthing Homes rises to new heights on Vancouver’s West Side with the introduction of Hawthorne, an elite collection of 1- to 3-bedroom residences adjacent to Queen Elizabeth Park on Cambie Street. Hawthorne redefines modern luxury living through progressive architecture, finely crafted interiors, and exceptionally sized floor plans. Rising seven storeys, above all else, Hawthorne will be home to a limited few.
Find Out About New Presales & Get Access to VIP Openings & Special Promotions!
Hawthorne’s superb Westside location provides you with convenient access to all your daily needs. Just a short walk along Cambie at Oakridge, find grocery shopping at Kin’s Farmers Market and Safeway, banks, a pharmacy, post office, public library, telecom providers, medical centre, cafes, restaurants, Hudson’s Bay department store, home decor stores, travel agencies, boutique shopping, and specialty shops. For your recreational needs, there’s skating, swimming, and a gym at Hillcrest Community Centre. Steps away at Queen Elizabeth Park, enjoy a stroll through its lush gardens, exercise your pet at the dog park, play a game of tennis, or hit the links for a round of golf. At Hawthorne, live the high life.
Pricing for Hawthorne
As this project is in pre-construction, Pennyfarthing has not yet released pricing information. However, given the success of Pennyfarthing’s other Cambie Corridor projects, we expect Hawthorne will sell out quickly. Don’t miss out! Sign up to our VIP list above.
Floor Plans for Hawthorne
Final floor plans have not yet been made public. Nevertheless, we know there will be a family-friendly mix of 11 1-bedroom, 21 2-bedroom, and 12 3-bedroom homes. Ground floor residences will all have private patios and the three top floor homes have private rooftop decks. Average home sizes range from 680 to 1,433 sq ft.
Amenities at Hawthorne
Residents will have shared use of a ground floor amenity room with a patio, small kitchen, and washroom. There will also be a shared rooftop deck.
Parking and Storage
Hawthorne will offer three levels of underground parking accessed from the lane. There will be 51 vehicle spaces with two handicapped spots and space for 61 bicycles with 11 lockers and 12 vertical stalls. Thirty-four homes will have in-suite storage, while 13 will have in-room storage.
Maintenance Fees at Hawthorne
Will be released with pricing information.
Developer Team for Hawthorne
Since its formation in 1980, Pennyfarthing Homes has fulfilled the home ownership dreams of nearly 3,000 home buyers throughout the Lower Mainland, Washington State, and California, all the while setting exacting standards of integrity, reliability and professionalism. Following on Bennington House and Grayson, this is Pennyfarthing’s third development in the Cambie Corridor.
To design Hawthorne, Pennyfarthing has chosen Shift Architecture. Shift is a high-performance practice with a track record of respected, inspired projects throughout Vancouver and the Lower Mainland. With proven expertise in multi-family housing, Shift boasts a diverse portfolio of residential, commercial, healthcare, and mixed-use developments. Renowned for its collaborative design process, Shift’s team of core personnel draws upon a deep collective well of experience spanning decades.
Cristina Oberti, a respected interior designer whose name is well-known in Vancouver, will be applying her extensive knowledge and systematic design process to create a unified look and coherent design for Hawthorne that conveys a unique and coherent, yet stylish message.
Expected Completion for Hawthorne
To be announced. Sales start in early 2017.
Are you interested in learning more about other homes in the Cambie Corridor, Kerrisdale, or Southeast False Creek?
Check out these great Cambie Corridor Presales!
The post Hawthorne by Pennyfarthing – An Elite Collection of 44 Luxury Cambie Condos appeared first on Mike Stewart Real Estate Specialist 604-763-3136.
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Contessa at Queen Elizabeth Park – Spacious Cambie Corridor Presale Luxury Condos
Pure West Property Investment in partnership with GBL Architects is proud to bring you their new Luxury Development Contessa located in the very popular cambie corridor. This stunning development will feature a six-storey mid-rise building which will include 18 1-bedroom, 19 2-bedroom, and eight 3-bedroom condominiums. Sizes will range from 608 to 1,177 sq ft. There will also be 3 lane way townhouses. Located on the corner of West 37th enjoy the stunning views of Queen Elizabeth park and withing close proximity you will also have great shopping and dining options.
Be apart of an Amazing community and register now for more information and pricing.
The post Contessa at Queen Elizabeth Park – Spacious Cambie Corridor Presale Luxury Condos appeared first on Vancouver New Condos.
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Contessa at Queen Elizabeth Park – Spacious Cambie Corridor Presale Luxury Condos
Pure West Property Investment in partnership with GBL Architects is proud to bring you their new Luxury Development Contessa located in the very popular cambie corridor. This stunning development will feature a six-storey mid-rise building which will include 18 1-bedroom, 19 2-bedroom, and eight 3-bedroom condominiums. Sizes will range from 608 to 1,177 sq ft. There will also be 3 lane way townhouses. Located on the corner of West 37th enjoy the stunning views of Queen Elizabeth park and withing close proximity you will also have great shopping and dining options.
Be apart of an Amazing community and register now for more information and pricing.
The post Contessa at Queen Elizabeth Park – Spacious Cambie Corridor Presale Luxury Condos appeared first on Vancouver New Condos.
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Variable Annuities: What They Are and Why They’re a Bad Idea for Most Investors
I received my initial financial education, particularly as it relates to investing, courtesy of the school of hard knocks. My wife and I spent the first decade of our careers investing with an advisor, one who was paid by commissions on the products we were sold. In the process, we made many massive and expensive investing mistakes.
One investing error was especially painful. My wife quit her job and rolled over a 6 figure retirement account into a variable annuity (VA), as recommended by our trusted advisor. Years later, we began to take control of our investments and educating ourselves. We read articles explaining that VAs are very expensive and controversial products.
It was only then that we had a realization: we were sold a product that was not in our best interest, for the sake of someone else’s commission check. Now, we had to figure out what to do with it in order to move forward.
Not A Unique Experience
As I began learning and writing about investing, I became the defacto investing expert for our families. Several family members asked me to help them decipher their investments. Unfortunately, our experience was not unique. The first three portfolios I looked at all contained variable annuities, sold by different advisers from different firms.
In every case, the VA owner was shocked when I broke down all of the expenses on the products they owned. None of them were aware of the surrender fees or tax consequences incurred if they wanted to get out of these investments.
In each case, the recommendation to buy the annuity made little sense. Especially when taking into account the warnings from the U.S. Securities and Exchange Commission (SEC) or those published by the Financial Industry Regulatory Authority (FINRA) regarding VAs.
I reached out to Todd Tresidder, who wrote the book “Variable Annuity Pros and Cons: Surprising Truths Your Advisor Won’t Tell You”. I asked him what percentage of his coaching clients were inappropriately sold VAs. He responded, “I don’t have a percentage number that I can quote, [but] I had so many clients getting ripped off with inappropriate investments in VA products that I felt compelled to distill the principles down into that book to help them.“
Variable Annuities: The Basics
I will answer three key questions that will hopefully be all that you ever need to know about variable annuities.
- What is a variable annuity?
- Why are variable annuities generally poor investment options for most people?
- Why do so many people own variable annuities?
What Is a Variable Annuity?
Tressider explains that “a variable annuity is basically a mutual fund investment wrapped in the veneer of an insurance contract.” Annuities have several key features that differentiate them from investing in mutual funds outside of an annuity.
Read More About Evaluating and Picking Mutual Funds
First, when it is time to take your money out of the investment, you have two options. You can take your money as a lump sum, as with any mutual fund investment. Or, if you’d rather, you have the option to annuitize this amount into a series of regular payments. The payment amount is variable, based on investment value at the time you annuitize, interest rates, and terms of the contract.
Second, VAs are taxed differently than standard mutual fund investments. Rather than being taxed at capital gains rates, tax treatment of variable annuities is very similar to that of non-deductible, tax deferred retirement accounts. During the accumulation phase, your money accumulates without annual taxation. When taking money out as a lump sum or as an annuitized payment, any investment gains or income are taxed as ordinary income.
Third, there is an insurance component of the variable annuity. In the event that your VAs have lost value by the time of your death, they come with a benefit that typically guarantees at least the amount of your purchases. Many annuities offer other optional insurance riders at additional cost, as well.
Fourth, variable annuities lack the liquidity of mutual fund investments. Because of high sales commissions and the insurance component, most VAs have a surrender charge to exit the VA for a period of time ranging from a few years to a decade after purchasing it.
Why Are Variable Annuities Generally Poor Investment Options?
The first reason is cost. According to Vanguard, the industry average annual cost of a variable annuity is 2.24% of the assets of the fund. You can buy a diversified portfolio of low cost index mutual funds for approximately .1%. This means investing in a VA is over 20 times more expensive. This is a tremendous burden to overcome to come out ahead in the long run.
Worse than cost is the lack of value, often hidden in endless layers of complexity. Insurance guarantees against investment loss and tax advantages often sound great when presented by hard charging advisors/salesmen. However, most people do not understand what they are getting.
For example, a big sales pitch for variable annuities is the advantageous tax treatment. However, depending on your situation, there may be no tax advantage, or the taxation of the investment may actually work against you.
Variable annuities have absolutely no tax advantages if held in retirement accounts. However, advisors will often have clients roll 401(k) accounts over to these high fee products when changing jobs. This was our case and that of two of my three family members that owned VAs. Again, these were not rare occurrences. According to the National Association of Variable Annuities, fifty five percent of all variable annuity assets are in IRA rollovers and qualified retirement accounts.
Even for taxable investments, the advantages are overstated. For tax purposes, VAs function as a non-deductible IRA. Investments are not subject to annual taxation of dividends, interest and capital gains. However, the contributions are not deductible and having the income and gains eventually taxed as regular income instead of generally more favorable capital gains rates can actually be a disadvantage to investing in VAs.
VAs generally are not beneficial for tax reasons unless you first max out all other investment options (401(k), IRA, HSA, etc) which have the same or better tax benefits and lower costs. Even then, further analysis is required to see if the tax benefits of a VA will be favorable enough to outweigh the costs.
Insurance is another big selling point of VAs. The sales pitch is that VAs offer the upside of mutual funds while insuring investments against loss. Again, many people do not understand what they are getting or how much they are paying for these benefits. For example, most VAs have a death benefit, at an industry average annual expense of .4% of the investment asset value. For this fee, your initial investment is guaranteed against loss.
Put this benefit into perspective. It costs approximately four times more than the all-in investment costs of simply investing in index mutual funds. It is an annual expense on your entire portfolio that will generally grow with the portfolio. Plus, it guarantees only the amount you invested, not income or gains. In order to ever benefit from the insurance, you would need to die AND at the time of your death your initial investment would have to be down in value AND your beneficiary would need the money immediately and not be able to simply wait for the investment value to recover.
Is this a worthwhile benefit for the fee? Possibly for a very select few, with very specific circumstances. Plus, I doubt the benefit and cost are explained clearly to most investors. For most of them, it is expensive and unlikely to ever be beneficial.
The death benefit is only one of the insurance options available with VA products. Others may include living benefits or stepped up death benefits. But, as Tresidder points out, “No insurance company is going to offer a feature unless they can make a profit on it.”
Every bit of insurance you buy is likely a losing bet for you and a winning bet for the insurance company. This is a great reason to consider mixing insurance products with investments, and to only insure the things that you can not afford to lose.
Why Do So Many People Own Variable Annuities?
The answer to this question is very simple. Advisors/salesmen are highly incentivized by high sales commissions to push these products. After all, there are high profit margins for financial institutions. According to a recent report from Senator Warren, sales are also frequently incentivized by other non-cash incentives including “expensive vacations, golf outings, iPads, jewelry and other items.”
All of this is done deceptively, but within the letter of the law. Incentives are hidden in broad, vague language deep in hundreds of pages of long prospectuses. Cleverly worded sales pitches and advertising campaigns will claim salesmen/advisors receive “no commission.” The truth, though, is that their fees are built into the product in ways that are nearly impossible for consumers to decipher.
Summing Up
Variable annuities are appropriate only for a very limited group of investors in very specific circumstances. They are unnecessarily expensive and complex investment vehicles for most people.
However, they are common. This is not because they are bought by educated consumers, but because they are pushed by insurance companies for whom they are highly profitable products. For most people, this article is all you will ever need to know about VAs.
Getting out of a bad variable annuity contract is a very complicated and often expensive process. The best medicine in this case is certainly prevention. You should always be very careful to fully understand any investment prior to entering into it… don’t just listen to the saleman’s pitch.
If you are already in a bad variable investment that you no longer want, I will provide options to get out of the contract and a framework to make the best decision while factoring in complicated factors. Look for it in an upcoming post, to be published next week.
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Thursday, October 27, 2016
November Market Update: What Canada’s New Mortgage Rules Mean For You
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2017 Federal Income Tax Brackets, Deductions, and Exemption Limits
The end of the year is upon us, and this means that you’re probably starting to think about the 2016 tax season. You know, the start of the new year, when we begin preparing our taxes from the calendar year (21016) that just ended.
Well, the IRS decided to throw you a curveball this week by releasing the 2017 tax rates, brackets, and deductions. This is great if you want to start planning for the next calendar year (as you should!). But it also has the potential to be confusing when you’re filling out your tax returns in a few short weeks.
Learn More About Tax Related Calculations
When looking at these numbers, please keep in mind that they cover tax year 2017. You will use these numbers throughout calendar year 2017, when doing things such as determining your withholdings. However, you will not use these numbers for filing taxes until the first quarter of 2018. When filing your 2016 taxes (which you’ll do sometime between January and April 2017), you should reference the 2016 Federal Income Tax page.
As in past years, the numbers have been adjusted a bit to account for inflation.
As has been the case in the past, the numbers are adjusted to account for inflation. That means that they are slightly more taxpayer-friendly than they were for 2016. But at the same time, you won’t see any dramatic changes either. Inflation remains on the low end of the historic spectrum, so the adjustments in the tax numbers are barely perceptible.
2017 Personal Exemption and Phase-out
For 2017, the personal exemption will be the same as it was in 2016, which was $4,050 per person.
However, keep in mind that the personal exemption phases out for high income taxpayers. This phase-out is based on the following income levels:
| Filing Status: | AGI – Beginning of Phase-Out: | AGI – Completed Phase-Out: |
|---|---|---|
| Married filing jointly and surviving spouses | $313,800 | $436,300 |
| Heads of households | $287,650 | $410,150 |
| Unmarried individuals, other than surviving spouses and heads of households | $261,500 | $384,000 |
| Married individuals filing separately | $155,650 | $216,900 |
2017 Standard Deduction and Phase-out
- Married filing jointly and surviving spouses: $12,700
- Heads of household: $9,350
- Single, or married filing separately: $6,350
These numbers are up a bit from 2016, with a bump of $50-100 each.
Just as is the case with personal exemptions, the IRS also imposes a limit on itemized deductions based on your income, as follows:
- Married filing jointly and surviving spouses: $313,800
- Heads of household: $287,650
- Single: $261,500
- Married filing separately: $156,900
2017 Tax Rate Tables
Below are the tax rates for 2016. Remember, the income ranges do not apply to your gross income. Rather, they apply to your taxable income only. That’s your gross income from all sources, less retirement contributions, alimony, certain education expenses, personal exemptions, standard or itemized deductions, and various other deductions.
Married Individuals Filing Joint Returns and Surviving Spouses:
| If Taxable Income Is… | The Tax Is… |
|---|---|
| Not over $18,650 | 10% of the taxable income |
| Over $18,650 but not over $75,900 | $1,865 plus 15% of the excess over $18,550 |
| Over $75,900 but not over $153,100 | $10,452.50 plus 25% of the excess over $75,900 |
| Over $153,100 but not over $233,350 | $29,752.50 plus 28% of the excess over $153,100 |
| Over $233,350 but not over $470,700 | $52,222.50 plus 33% of the excess over $233,350 |
| Over $470,700 but $111,818.50 plus 35% of not over $466,950 | $112,728 plus 35% of the excess over $470,700 |
| Over $470,700 | $131,628 plus 39.6% of the excess over $470,700 |
Heads of Households:
| If Taxable Income Is… | The Tax Is… |
|---|---|
| Not over $13,350 | 10% of the taxable income |
| Over $13,350 but not over $50,800 | $1,335 plus 15% of the excess over $13,350 |
| Over $50,800 but not over $131,200 | $6,952.50 plus 25% of the excess over $50,800 |
| Over $131,200 but not over $212,500 | $27,052.50 plus 28% of the excess over $131,200 |
| Over $212,500 but not over $416,700 | $49,816.50 plus 33% of the excess over $212,500 |
| Over $416,700 not over $444,500 | $116,258.50 plus 35% of the excess over $416,700 |
| Over $444,500 | $126,950 plus 39.6% of the excess over $444,500 |
Unmarried Individuals (other than Surviving Spouses and Heads of Household):
| If Taxable Income Is… | The Tax Is… |
|---|---|
| Not over $9,325 | 10% of the taxable income |
| Over $9,325 but not over $37,950 | $932.50 plus 15% of the excess over $9,325 |
| Over $37,950 but not over $91,900 | $5,226.25 plus 25% of the excess over $37,950 |
| Over $91,900 but not over $191,650 | $18,713.75 plus 28% of the excess over $91,900 |
| Over $191,650 but not over $416,700 | $46,643.75 plus 33% of the excess over $191,650 |
| Over $416,700 but not over $418,400 | $120,910.25 plus 35% of the excess over $416,700 |
| Over $418,400 | $121,505.25 plus 39.6% of the excess over $418,400 |
Married Individuals Filing Separate Returns:
| If Taxable Income Is… | The Tax Is… |
|---|---|
| Not over $9,325 | 10% of the taxable income |
| Over $9,325 but not over $37,950 | $932.50 plus 15% of the excess over $9,325 |
| Over $37,950 but not over $76,550 | $5,226.25 plus 25% of the excess over $37,950 |
| Over $76,550 but not over $116,675 | $14,876.25 plus 28% of the excess over $76,550 |
| Over $116,675 but not over $208,350 | $26,111.25 plus 33% of the excess over $116,675 |
| Over $208,350 but not over $235,350 | $56,364 plus 35% of the excess over $208,350 |
| Over $235,350 | $65,814 plus 39.6% of the excess over $235,350 |
Once again, please keep in mind that all numbers shown here are for calendar year 2017, and will not apply to filing your 2016 income tax return this spring. For the rates that apply for 2016, please see our post from January of this year, covering the 2016 Federal Income Tax Brackets.
(All information summarized from IRS Revenue Procedure 2016-55)
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Contessa at Queen Elizabeth Park – Spacious Cambie Corridor Presale Luxury Condos
At a Glance
- exceptional Cambie Corridor location
- 3 laneway townhouses
- 45 1- to 3-bedroom condominiums
- short walk to Queen Elizabeth Park
- upscale Oakridge Centre shopping
- Signature BC Liquor Store
- Hillcrest Community Centre
- Canada Line rapid transit station
Spacious Luxury on the Westside
Pure West Property Investments, in partnership with GBL Architects, bring you Contessa at Queen Elizabeth Park, the latest luxury development in the hot Cambie Corridor district. With roomy condominium and townhouse residences ranging from one to three bedrooms, Contessa is ideally suited to families that appreciate the advantages and conveniences of modern urban living. Nearby schools, recreation, and shopping mean you can enjoy a healthier lifestyle from walking and cycling to meet your everyday needs.
Find Out About New Presales & Get Access to VIP Openings & Special Promotions!
Situated on the corner of West 37th Avenue and Cambie Street, Contessa’s outstanding location allows you to easily enjoy the lush beauty of Queen Elizabeth Park’s manicured gardens and its numerous leisure activities, such as golf, disc golf, tennis, lawn bowling, and tai chi; or bring your children to Hillcrest Community Centre for baseball, skating, soccer, swimming, and more! Just two blocks away, take care of your grocery shopping at Kin’s Farmers Market and Safeway in Oakridge Centre, then stop off on the way home at Vancouver’s largest Signature BC Liquor Store for the perfect wine to pair with dinner. For endless shopping and dining options, the Oakridge Canada Line station is your express ticket to Vancouver city centre and downtown Richmond. At Contessa, experience the quality of life from human-centred urban design.
Pricing for Contessa at Queen Elizabeth Park
Pure West Property has not yet published pricing information. We recommend interested buyers sign up to our VIP list above to ensure priority notification of new developments. We expect Contessa to be very attractive with buyers due to its liveability and prime location.
Floor Plans for Contessa at Queen Elizabeth Park
As this project is in pre-construction, floor plans have not yet been released. However, we do know there will be three laneway townhomes with private patios, courtyard main entrances, and rooftop terraces with green privacy buffers. The six-storey mid-rise consists of 18 1-bedroom, 19 2-bedroom, and eight 3-bedroom condominiums. A variety of expansive floor plans, with or without dens, range from 608 to 1,177 sq ft. Ground floor homes each have their own private, landscaped patios, while top floor homes have individual rooftop terraces.
Amenities at Contessa at Queen Elizabeth Park
Contessa residents will enjoy a lushly-landscaped outdoor plaza with shaded seating and a children’s play area. At the southern end are community plots for urban agriculture that take advantage of exposure to the sun. A shared rooftop patio offers a warming fire pit with comfortable lounge seating and a communal dining area with all the necessary outdoor cooking amenities.
Parking and Storage
Contessa will provide residents with 51 vehicle stalls and 60 bicycle lockers in two levels of underground parking. Bicycle racks in front of the main building entrance will also be available to visitors. Each townhouse will have its own private underground parking space with direct entry into each residence. Most homes have in-suite storage; five have their own secure storage in the parkade.
Maintenance Fees at Contessa at Queen Elizabeth Park
Will be included with pricing information when available.
Developer Team for Contessa at Queen Elizabeth Park
Pure West Property Investments chose acclaimed GBL Architects to design Contessa at Queen Elizabeth Park. GBL is a progressive Vancouver-based firm of 38 architects, project managers and technicians with a 25-year reputation of providing a full range of architectural services to the private and public sector. GBL design with the belief that form plays a vital role in defining experience through an ever-changing dynamic between sculptural artistry and social responsibility. No stranger to the Cambie Corridor, GBL’s other projects in the neighbourhood include Homei Properties’ Henry at 5389 Cambie, Transca Development’s Primrose, and The Regent at 523 West King Edward.
Expected Completion for Contessa at Queen Elizabeth Park
To be determined.
Are you interested in learning more about other homes in the Cambie Corridor, Mount Pleasant, or Kerrisdale?
Check out these great Cambie Corridor Presales!
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