Welcome to Guru Goddess

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Welcome to Guru-Goddess. We publish articles and guides for busy women who want to stay in the know and on top of all areas of their busy lives. The word Guru means teacher. Guru Goddess is by women, for women, to empower women. Click on the links to the right to start reading all the articles of interest to you.

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Transitioning your wardrobe from summer to fall

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fashion shoeSummer time is disappearing fast and fall is approaching. We know you want to make the most of your flirty summer fashions, but your light and white clothing will soon have to give way to more somber colors and heavier fabrics. But there are ways to make the transition so you do not just get to wear your summer clothes for a few weeks of the year. Instead of packing the clothes away as soon as Labor Day is over, here are a few ideas for keeping them out with the rest of your clothes and transitioning them to be useful for you in the fall as well.

* Tee shirts can still be worn on most days. If the weather is a little chilly, top with a cardigan or layer your tee over a long sleeved shirt.

* Dresses. If they are not too summery in terms of color or pattern, add a cardigan or pop a tee shirt underneath, or both.

* Shorts. Shorts with tights became the fashion several years ago, so provided they are not too summery or skimpy, you can continue to wear them into the fall. Capris can also work well to extend your wardrobe if they are not too summery in color or pattern.

* Summer shoes. Sandals may not be appropriate for very cold or wet fall days, but they are fine for an extended Indian summer. Just be sure to keep your pedicure up to date. Flats are perfect for wearing well into fall and work well with any outfit, from casual to formal, as long as they are not white.

* Summer accessories can still be used in the fall. Sunglasses can be used throughout the year. After all, just because its fall does not mean the sun isn’t still shining, and you should always try to protect your eyes. A straw hat, bag and sunglasses work well with fall colors as long as they are not too summery. If your hat has a ribbon on it, you can always change it to something darker and more autumnal, for a whole new look.

* Mini skirts are a staple in the summer time, and can be carried over into fall with the addition of tights and high boots. The resulting fashion statement will show great fashion sense and will leave others wondering why they haven’t tried it. Again, just avoid wearing white or any overly summery patterns.

* Accessories are a staple to any outfit in any season. Utilize scarves and darker purses with your summer wardrobe and the change will create a fresh, pleasing effect.

*Shawls and shrugs. These are handy for adding an extra layer and keeping the chill off. Adding one can create a whole new look to your tee shirt or top or your dresses.

Wearing your summer items for longer makes sure you will get more value of them and not feel you are going to be stuck in winter woolies for the next nine months until summer rolls around again.

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Choosing the Best Business Entity for Your New Small Business

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Starting your own business can be an exciting time in your life, but not one to be entered into lightly. One of your biggest decisions will be , but what type of business entity should you use? There are advantages and disadvantages to every type of structure.

The key is to consider your needs and then simply match them to the business entity that makes the most sense depending on the kind of small business you wish to run.

Forming a business properly will give you tax advantages, and protection from identity theft. You will not have to give anyone your social security number online, for example, in order to get paid for your products and services. So which business entity is right for you? Let’s look at the most common structures for the small business owner:

1. Sole proprietorship.
With a sole proprietorship, legally, you have no separation from the business. You would report the business income as personal income. Also, the business debts and liabilities are your debts and liabilities.

2. Partnership.
This is essentially the same as a sole proprietorship, but with more than one business owner. Sole proprietorships and partnerships make the best sense for smaller service businesses (little business debt) and those with limited assets.

* If you’re going to be selling products, you’ll have inventory. Inventory typically means debt, since there is usually a period of time before the bill comes due.

* Be careful about using a partnership or sole proprietorship in this situation. If you can’t pay your bills, everything is fair game for the bill collectors, including your house, car, bank accounts, and other assets.

3. Limited Liability Company (LLC).
A limited liability company separates the owner from debts, liabilities, and legal judgments against the business. In theory, any claims against your business could not result in you losing your personal property or assets.

* It’s smart to consult an attorney to set up your LLC in such a way that no court would be able to “lift the veil” of separation between your corporation and your personal assets.

* For tax purposes, an LLC is handled the same as a sole proprietorship or partnership. Your business income is reported as personal income. However, there are a significant number of tax deductions you would be allowed to take compared with filing a personal return.

4. C-Corporation or S Corporation.
From a liability standpoint, a corporation is similar to a limited liability corporation. Your personal assets are safe from your business-related issues. However, for tax purposes, the business is taxed separately from personal income. The business itself is taxed.

* You would be taxed for whatever salary or bonus you receive. This would be considered personal income.

* Corporations and limited liability companies make a lot of sense for owners that have a real risk of being sued, or the possibility of creating a lot of business debt. It is also worth considering for those that have considerable personal assets. In our litigious society, it is often not a case of IF you will get sued, but WHEN. Do not let this deter you from starting your own business, but do let it be a practical reminder to put all your protections in place from the beginning of your business in order to save a lot of trouble further on down the road.

* Corporations also allow for the issuing of stock. This means you could raise funds later if you needed to.

*Corporations are allowed many more tax deductions that an individual.

*Corporations will cost more money to set up, and there are very specific rules that need to be followed in running your corporation.

*Fortunately, thanks to the Internet, incorporating is a lot easier that it used to be and depending on what company you use, you will often get a kit with all of the paperwork and so on that you need to set up and run the corporate effeciently.

* Keep in mind that the corporate tax rate in the United States can be quite high. That’s why so many corporations have a small office in another country and declare that their headquarters. Unless you want to raise money by issuing financial instruments (stocks and bonds), the corporation structure is probably not the most beneficial choice.

5. Nonprofit. If your business will rely on donations and carry out a purpose that serves the community, you might consider a nonprofit corporation structure. Suitable purposes include educational, scientific, religious, or charitable purposes.

* The income received in the form of donations is typically not taxed.

*Non profit does not mean you make no profit. There are rules and regulations involved in how the money is earned and spent, but basically, you work it so you have a $0 balance at the end of the year.

6. Cooperative. A cooperative is very similar to a partnership and limited liability corporation. There are multiple owners with liability protection, but income is taxed as personal income. Cooperatives are all about having equal owners. One person=one vote. All income and benefits are distributed equally. This might be great if you have a range of people you can work well with, but going into business with someone else can change both of you. Do not be willing to get married if you are not prepared to also get divorced if things do not work out, in partnered life, and in business.

Setting up a business doesn’t have to be difficult. Choose the structure that best suits your needs. Some forms of business are more complicated and expensive to set up than others. Check out all the details before making your decision and get some expert help.

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Do you have life insurance?

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One of the main changes in US society as a result of the recession that hit in October 2008 is that women now make up nearly half the workforce. Almost a third of married women are now contributing significantly to the wealth of their household by working outside the home. Countless families are now headed by women. Yet only about 25% of women have thought to take out a life insurance policy to try to protect their family from the financial shock of their untimely death.

Even for those that do have insurance, they are often underinsured, which risks their family being stuck with final expenses and little to live on if her salary was to disappear overnight.

Life insurance is not just for men, and it can also be a valuable planning and investment tool to help you improve your financial future.  If you have any dependents, take some time today to look over your existing life insurance to see if you are underinsured, or start looking into the range of life insurance options to see which one makes sense for your family, situation and budget.

FURTHER READING

Buying Life Insurance-A Beginner’s Guide

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Do You Need a Fashion Consultant?

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Fashion consultants, also referred to as image consultants, are individuals who are able to give advice on the latest fashion trends and help you develop your own style.

You can certainly read about and study fashion on your own, but there are some individuals who feel they need professional assistance to make the most of their appearance, especially if they are not that interested in reading about all the latest trends but still want to look their best.

With the bewildering array of styles and many people with body issues, spending the time and money to get a fashion consultation can help save a lot of effort, frustration and even embarrassment, so that you can find the styles that are right for you.

If you have ever seen the show What NOT to Wear, you will have some idea of what to expect with a fashion consultant, minus the TV cameras and ridicule.

Most of the time, people consult with a fashion expert when they have a special occasion coming up, such as a wedding. Others might decide that they need help in developing a more professional wardrobe so that they can really dress to impress on their upcoming important interviews.

Whatever the reason, some people do not know what suits them, or suits the occasion they are going to be attending, and feel they need professional help.

The phrase may be commonplace, but it is true: You never get a second chance to make a first impression. That being the case, a couple of outstanding outfits in your wardrobe can help you wow those you want to impress with effortless ease, once you know how.

While it is true that every work environment is different, for instance, with some workplaces offering more casual dress, while others still expect more formal dress, there are certain styles that are classics that you can have for years which will not go out of fashion, while other outfits are so trendy that they will be out of style in a year or two.

In most cases, these kinds of clothes are more suited to your social life than your professional life, unless of course you are working in a position that required you to dress in a very stylish manner. The kinds of clothes that you would need to wear in an upscale boutique will be very differen from those you would be expected to don if you were working in a law office.

Professional fashion consultants spend hours reviewing the latest fashion trends and styles, including workplace fashions, and then helping to match the trends to your personality and the nature of your job plus your appearance and body type

If you are interested in updating your appearance, you may want to think about hiring a professional fashion consultant to help you develop a more sophisticated look, or one more in keeping with your age now that you have reached the age of 29 again but are in need of a fashion update.

You should have a wardrobe of mix and match separates that will work well in in the office or on a business trip, and for a fun and possibly even romantic night out as well. Fashion consultants can help you invest in a wardrobe that everyone will be impressed with, but without anyone thinking that you are wearing one of your outfits too often. They can help you save money in the long run by not buying anything so trendy that it screams last season if you try to wear it for more than a few months.

Finally, if you have body image issues, consult with an expert to help you get on the right track for the best outfits for your job, lifestyle, coloring and body type. We can be a bad judge of ourselves with respect to thse issues, so hiring a professional design consultant can help you put things into perspective and find the clothes that are right for you so you are not constantly walking around in a tent to hide what is actually a good figure, or wearing skin tight clothes when you have gained 50 pounds.

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