Crypto industry is not devoid of scams. In fact, crypto crimes and scams reached their ATH in 2021 only. While hackers form one side of the crypto scam world, the other part is dominated by scam crypto exchanges. Well, assets such as cryptocurrency are extremely volatile and any scamming activity only increases the risk factor. Now, that doesn’t mean that you won’t invest in crypto- you cannot overlook the dramatic returns that crypto assets offer and have made many investors millionaires. Rather, you should practice caution if you come across something slightly unrealistic in the crypto space.
You need to be mindful while trading or finding trading exchanges for assets such as cryptocurrency. The post below offers a brief on the top facts to consider while looking for a crypto exchange.
Beware of unauthorized schemes
You have 600 crypto exchanges today but you can’t trust them all equally. Worse, some of them might even come up with extraordinary investment schemes to lure users. Well, first, if you find any scheme from crypto that might appear too-good-to-be-true, practice caution. Nobody is claiming that such schemes have to be illegitimate – but make sure to do your own research before opting for that scheme.
This point comes in line with the point mentioned above.
If you find an extraordinary scheme, please check whether the exchange is a registered platform or not. If not, then that’s a prominent red flag.
Mention must be made of Align Assets exchange here that used to tempt users with larger-than-life investment schemes. And, a lot of users fell into the trap as well. As per the scheme, investors would receive 3% return every single working day! It means, the exchange is offering 150% total profit in fifty working days. Also, members who will bring friends on reference will receive 5% with every direct referral as well as 0.5% for every indirect referral.
The scheme undoubtedly looks promising. If you look at the initial reviews of Align Assets, you will find happy users who have received their returns. But, over time, the exchange had to show its true face and that was when the exchange started getting complaints. A lot of investors started complaining that they were not being able to receive the return as promised and some of them were also having a hard time withdrawing money from the exchange.
Complaints started piling up and the SEC was compelled to look into the affairs. Upon investigation, the SEC declared that the investment scheme was completely unauthorized. Moreover, the exchange does not hold registration or license as required by “Securities Regulation Code”.
As of now, you will find no website of Align Assets. They have withdrawn their website as well as associated activities.
Bottom line is, there is no dearth of scam crypto exchanges like Align Assets. So, don’t just settle with any investment scheme you come across online from any random crypto exchange.
Your experience with your crypto journey is largely dependent on the exchange you settle with. Here are some pro tips that will help you to find a credible crypto exchange.
The first thing to do is to conduct thorough research on your chosen crypto exchange.
Look for top 10 exchanges online and conduct an extensive study on them. Check their reputation, ratings, and reviews. Don’t just check the reviews posted by the exchanges on their website- also check the independent review sites for unbiased reviews. It’s better not to opt for recently launched exchanges. If you want to sign up with a new exchange, wait for a while for the reviews and ratings. If you find positive reviews and ratings after at least 6 months, then you can join.
Registration and license
A lot of crypto exchanges are operating without license or registration. Worse, some users don’t even bother about registration if they are getting a return on their investment. But, that’s not a healthy way to engage in crypto trade or investment. A crypto exchange that would believe in ethical business practices would make it sure to get registration and license. No matter how amazing a scheme looks, please don’t put your trust and money in an exchange that does not bother to get a license or registration.
What about payment mode?
Do you buy crypto with fiat? Or, are you comfortable with crypto payment for crypto purchase? Well, if you are new to the zone, fiat would be your most preferred, if not the only, payment method. Now, you should know that not all crypto exchanges out there accept fiat payment. While fiat payment is viable in centralized exchanges, the decentralized ones are yet to approve payment through fiat.
Thus, if you want to make payment through fiat, you cannot opt for decentralized exchanges.
This is another major tip to keep in mind while looking for a reliable crypto exchange.
You will find most of the crypto exchanges catering to users from several countries. But, these platforms don’t always cater to users from every country out there. Thus, before you sign up with a crypto exchange, you should always check beforehand whether or not the platform accepts users from your country or not. If not, then you would have to look for an exchange that approves users from your nation. Read more how to buy btc with a credit card
As mentioned above, the rate of crypto crime and scam has reached an alarming high of late. Thus, you must be extremely careful while checking the security aspect of a crypto exchange before registering with the platform. The one you choose must be backed by 2FA authentication. Then, the crypto exchange should store all funds in cold wallets. This is extremely important if you are opting for a CEX as these exchanges don’t allow transfer of funds from the exchange wallet to some 3rd party wallet.
Also, make sure to check the fees. A reliable exchange would be customer-centric and would only charge affordable fees.
Follow These Steps For A Smart Divorce Settlement
Divorce settlements can be challenging, especially if certain disputes among the spouses. However, at some point, you will need to find common ground or take the matter to court. The problem with the latter one is you will have to accept whatever the court’s final discussion for your divorce settlement is.
This can harm both spouses regarding social support and other settlement related to your divorce. You will also have to settle child custody in court, which can be a traumatic experience for your children.
In most divorce cases, children are known to suffer the most. Since kids have a fragile mindset, they might go through some tough times seeing their parents get separated. However, to make sure your divorce settlements are as peaceful as possible, get legal help for an experienced divorce lawyer today.
Follow these steps for an intelligent divorce settlement.
- Know your rights in prior
When you are deciding your terms for a divorce settlement, always talk to a lawyer to know your rights. Whether you are the one who initiates the divorce or it is a mutual decision. Both spouses have certain rights when it comes to spousal and child support, lifestyle choices, asset distribution, etc.
Depending on our division, there are several ways you can seek alimony. Sometimes spouses get a lump sum payment; other times, the liable party might have to pay them in installments every once in a while. Additionally, child support and alimony also depend upon the tenure of your marriage.
Your marriage period decides how long you will receive or give alimony to your spouse. This helps the financially dependent spouse maintain their living standard and ensure they have enough savings for the future as well. The court also considers the lifestyle of both spouses when deciding alimony and distributing assets.
In addition, asset distribution is done equally between both parties. However, the distribution only includes marital assets, and personal assets are excluded from the division and remain with respective spouses.
- Have a clear idea of what you own
Most of the time, in divorce settlements, the asset distribution is done equally. It is always beneficial for the spouses to settle their assets and other valuables outside court with their lawyer. You can ask your lawyer to make the settlement, and both parties can meet in the presence of a court representative.
However, to form the settlement, you must ensure you have a clear idea of your share and how much you should receive in the divorce. So make sure you evaluate all the martial and personal assets with your lawyer to get what you deserve.
Why is it advantageous to comprehend and predict tax deductions for 2022?
In order to reflect changes in the cost of living, the IRS modifies income tax brackets, deductions, and other tax credits every year. The greater-than-average adjustments in 2022 were a result of increased inflation rates in 2021. Over 60 tax provisions, including federal income tax brackets, basic deductions, and tax credits, would be affected by the inflation adjustments for the tax year 2022, which were also disclosed by the Internal Revenue Service.
The government makes some adjustments to tax deductions and other aspects of taxation each year. It is also important that the locals comprehend these developments. One can use a federal income tax calculator to accurately predict their tax amount. Any misunderstandings could result in erroneous tax returns and interfere with the calculations.
If you’re the one trying to understand these adjustments and grasp the improvements, we’ve compiled some crucial information for you:
- Amounting to $75,900 for the 2022 tax year, the Alternative Minimum Tax exemption phase-out threshold ($118,100 for married couples filing jointly) is $539,900. The exemption threshold for 2021 was set at $73,600, and it phased out at $523,600.
- Married couples filing jointly are now eligible for a standard tax deduction of $25,900, an increase of $800 from the prior year. The heads of house standard deduction will increase by $600 in 2022, while the standard deduction bump for single taxpayers and married people filing separately would increase by $400.
- The number of eligible adoption expenses up to $14,890 can be claimed as the maximum credit, up from $14,440 in 2021.
- The foreign income exclusion for the fiscal year 2022 has increased to $112,000 from the tax year 2021’s $108,700 amount.
- The basic exclusion amount for decedents who passed away in 2022 is $12,060,000, an increase over the $11,700,000 for decedents who passed away in 2021.
- From $15,000 in 2021, the annual exclusion for gifts will increase to $16,000 in 2022.
Which tax deductions are considered standard?
The IRS permits you to claim the standard deductions even if you have no estimated tax deductions. The standard deduction lowers the amount of taxable income.
You are only allowed to itemise or take the standard deduction; not both. The IRS permits certain costs that can be deducted from your taxable income as itemised deductions.
Home mortgage interest and many other common tax deductions, such as charity contributions and medical expenditures, can’t be claimed if you choose the standard deduction. In the event that the IRS decides to audit you, you should have paperwork to support your deductions if you itemise.
Itemized tax deductions’ function and characteristics are as follows:
Itemized deductions are distinct from above-the-line deductions, like those for student loan interest and self-employment costs. They are below-the-line deductions from adjusted gross income (AGI). They are calculated on Internal Revenue Service Schedule A, and the sum is transferred to your 1040 form. If you are a self-employed individual you’ll get a 1099 form that reports your self-employed income.
Summary of Exceptions to the Standard Deduction for Tax Year 2022
- Your standard deduction rises by $1,750 if you are 65 years of age or older and file as a single person or the head of household. If you are legally blind, you can deduct $1,750 more from your standard deduction.
- Catastrophe losses: If a federal disaster has been declared in your area, you may only raise your standard deduction in terms of the net amount of any losses you sustained as a result of the catastrophe. You would deduct this amount as an itemised deduction.
- Your basic tax deductions rise by $1,400 if you’re married, filing jointly, and 65 years old or older. Your standard dividend will increase by $2800 if you and your spouse are both 65 years of age or older. If either you or your partner is legally blind, the increase is $1,400; if both of you are, it is $2,800.
- As a Qualifying Widow, it rises by $1,400 if you are 65 or older. And, if you are legally blind, it increases by $1,400.
When should regular tax deductions be taken?
The basic line is that you should probably itemise your deductions and save money if your standard deduction is less than your itemised business deductions. It might be advantageous to accept the standard deduction to save time if it is larger than your itemised deductions. Itemized deductions could be your home office deduction if you have a work from home situation, or it could be business travel expenses if your work requires you to fly out frequently.
Take this little test. Even if taking the standard deduction is easier than itemising, if you have a mortgage or a home equity loan you should consider whether doing so will result in financial savings. Use the data from the mortgage interest statement, IRS Form 1098. Comparing the standard deduction to the amount of your mortgage interest deduction. Property taxes, state income taxes, and sales taxes are all alternatives.
Dependents’ Tax Deductions:
Your standard deduction cannot be larger than $1,100 or the sum of $350 and your individual earned income if you are dependent on someone else’s tax return and file your own tax return. Furthermore, if the dependent earns the same as or more than the standard deduction for their filing status, this provision does not apply. Learn more about declaring yourself as a dependent on a tax return.
- Two different types of taxes paid on Schedule A may be written off by taxpayers who itemise their returns. As determined in the prior year, personal property taxes, including real estate taxes, are deductible.
- The state rebate, however, must be included in the taxpayer’s income if they itemised their deductions in the prior year. Only $10,000 of these total taxes can be written off by taxpayers between 2018 and 2025. Tax deductions for overseas real estate taxes that are unrelated to a trade or business are also not available.
The last three itemised deductions are for medical costs, interest, and charitable donations. For higher income individuals who have a number of sizable costs to deduct, itemising makes the most sense.
More information about the most current adjustments to tax deductions can be found in the IRS’s formal publication. You can speak with any specialist or consult the IRS circular if you need more clarification. But in a nutshell, the information provided above would be sufficient! The greatest information on the 2022 IRS revisions has hopefully been provided for you by this guide.
Tips for Buying Cannabis from Reputable Cannabis Suppliers
If you’re in the cannabis industry, chances are you’ve had to source supplies at one point or another. And if you’ve had to source supplies, chances are you’ve run into some challenges. Whether it’s finding a reputable supplier or getting the best price, there’s always something that can make sourcing cannabis supplies a headache.
But it doesn’t have to be that way. With a little know-how, you can easily source quality wholesale cannabis supplies online—without all the hassle. Here’s what you need to know.
1. Know Your Products & Their Specifications
This might seem like a no-brainer, but it’s one of the most important steps in sourcing wholesale cannabis suppliers. Before you can start sourcing, you need to have a good understanding of the products you want to buy and their specifications.
What kind of products are they? What are their dimensions? What is the quality? Once you understand your products and their specs, you can start sourcing suppliers that sell those specific products.
2. Find Reputable Suppliers
The next step is finding reputable suppliers. This can be done by asking for recommendations from other businesses in the industry, searching online directories (like Google My Business), or even reaching out to potential suppliers directly and asking for references.
Once you’ve compiled a list of potential suppliers, take some time to research each one. Read online reviews, check their website and social media presence, and see what others say about them before making your decision.
Remember to keep your budget in mind when researching wholesale cannabis suppliers. Many suppliers offer different pricing tiers depending on the size of your order and finding a supplier that matches your budget will help you get the best price.
3. Get Quotes from Multiple Suppliers
Once you’ve narrowed your list of potential suppliers, it’s time to start getting quotes. When requesting quotes, be sure to include all relevant details about your order—such as product specs/descriptions, quantities, etc.—so that suppliers can give you an accurate quote. Once you have quotes from multiple suppliers, compare them to choose the best option for your needs.
4. Negotiate Price & Payment Terms
Negotiate with your chosen supplier if you want the best possible price on your wholesale cannabis supplies. Don’t be afraid to ask for a lower price or better payment terms—after all, it never hurts to ask!—and don’t forget to let them know that you’re also shopping around with other suppliers. They’ll most likely be willing to work with you to seal the deal.
3. Look for Sites with Secure Checkout Processes
One of the biggest challenges businesses face when it comes to online ordering is ensuring that their customers’ information stays secure. Many people are hesitant to place orders online because they’re afraid that their information will be hacked or stolen, and while there’s no way to eliminate the risk of hacking, you can help protect your customers by looking for websites that have a secure checkout process.
Sites with secured checkout processes typically use the latest encryption technology to ensure that your customers’ credit card information and other sensitive data are safe from hackers. Additionally, sites with secure checkout processes typically include security logos on their websites—such as McAfee, Verisign, or Trustwave—to let customers know their information is protected.
4. Consider All of Your Options
As you’re placing your first wholesale cannabis supplies orders online, it’s important to keep in mind that you have plenty of options. Don’t be afraid to shop until you find the best option for your business needs.
Once you’ve chosen a supplier and negotiated all the terms of your order, it’s time to place the order and start tracking it. Make sure you know any delivery dates and work closely with your supplier to ensure everything goes according to plan.
You can often set up a tracking system to monitor your order’s progress. That way, you can be confident that your order will be handled properly and arrive on time.
Pharma has a reputation for offering high-quality cannabis products and dependable service, making them one of the top suppliers in the industry. Whether you’re looking to stock up on wholesale supplies or place your first order, Pharma is a great choice for businesses looking to buy cannabis online.
They have a cultivation facility in Uruguay that produces some of the highest-quality cannabis products on the market, and their partners in the pharmaceutical, health, search, and cannabis industries make them a trusted supplier for businesses of all sizes.
Sourcing quality wholesale cannabis supplies doesn’t have to be difficult—as long as you know what you’re doing. By following these four simple steps—knowing your products & their specifications; finding reputable suppliers; getting quotes from multiple suppliers, and negotiating price & payment terms—you can easily find the best possible deals on the cannabis supplies you need for your business. So what are you waiting for? Start sourcing today.
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