Category: Featured

With the UK’s withdrawal from the European Union came into light, the interim trade agreement between the UK and Ghana was put on hold. On December 31st, 2020, the two countries came to the consensus to close the trade agreement that was long held. The main elements of the deal were discussed and agreed upon.

Ghana-UK Deal: An Insightful Progress

The UK and Ghana governments were pleased to announce the interim trade deal’s progress made about the agreement due to the UK’s withdrawal from the EU. However, in December 2020, both countries finished negotiations on the new Ghana-UK interim trade agreement. The agreement will help Ghana have duty-free access to the UK market, and the UK exports will receive ‘preferential tariff reductions on the products exported to the Ghana market.

“This agreement will be made effective as soon as the internal procedures are completed in Ghana and the UK,” as stated by both countries’ government officials.

In another joint statement published by both the governments on February 4th, “The interim agreement has already signed and will be in effect after few procedures. Until these procedures are complete, the UK government will keep on paying the import tariffs on the imports from Ghana including the bananas.”

On the other hand, to face the post-Brexit tariffs, the first shipment from Ghana has already landed in the dock at Portsmouth that includes 185 metric tons of the banana fruit, and most other products fall under the ‘Fairtrade’. Moreover, while the county is waiting, the exports are already facing the Generalized Scheme of Preferences from Britain. It means that the developing countries will face a reduced rate of import duties. 

In the words of the UK Department for International Trade, owing to their New Year’s statement, “The two countries have reached consensus on the main components of the deal, and the written elements will be finalized within the weeks.”

A Step Towards Strengthening Economy

Ghana is widely open for foreign trade as it wants to strengthen its private sector, guarantee trade transparency. The country is mainly into exporting wood, horticulture products, cocoa, fish, and oil. But, the country is a step ahead in other spheres too. Ghana is already into sports, education, trading, and the country’s natives enjoy gaming also. Even the Ghana people enjoy betting on many offshore online sites like NetBet casino that offers in-play, live casinos, sports betting, etc.

However, where one fraction of society enjoys entertainment and sports. Still, the other fraction of society deals with the crisis, and their livelihood largely depends on the country’s exports. So, the increased tariff will somehow hit the exports hard, especially the banana exporters. 

Therefore, Ghana is concerned about this Post-Brexit trade agreement with the UK, as the agenda of this deal is to provide quota-free, and duty-free access to the county and the Ghanaians are eagerly waiting for it. The exporters of bananas want that deal should be concluded in a few days instead of taking weeks. As the exporters, mainly bananas, believe that they have to reduce trade volume because of prevailing tariff rates. 

The new agreement reaffirms the interest of Ghana will not be affected under the deal even if Britain has walked out of the EU. The primary idea is to strengthen the relationship between the two countries and reflect the West African States’ integration. This new agreement will further enhance the ambitious relation between the Economic Community of West African States (ECOWAS), the UK, and the other African States.

A good book never goes out of style. Whether you are into books about crime, fantasy, or exciting biographies, there is always something new and exciting to read. Depending on what you like to read, it can sometimes happen that books become a little too real (books can be scary in many different ways).

Well, if that is the case you can always take a small break and go for a walk, fire up the TV and watch your favorite show or maybe spend some you-time playing online casino games. The book will always still be there when you are done.

If you have a hard time finding something you would like to read, then take a look at this list of great books and be inspired. There is something for everyone. 

Becoming by Michelle Obama

The former First Lady of the United States of America serves her life story in this book. Obama here tells the story of her life before being the First Lady from 2009 to 2017, as well as her experiences being the first African American First Lady while still having to be a mother and a wife.

It is an interesting book, which really lets the reader get an inside look at what the life of the Obama’s, well, most importantly Michelle Obama, was like – both before and under Barack Obama’s presidency.

In the biography, she also puts the focus on her successful Let’s Move campaign and her important role as a mother of two girls and their life as the first family. 

Say Nothing: A True Story of Murder and Memory in Northern Ireland by Patrick Radden Keefe

If you have heard all the true-crime podcasts here is the book for you.

Keefe reports and writes about the conflict in Northern Ireland and quickly gets you absorbed in the book. Opposed to many other true-crime podcasts and books, you actually get way deeper into the solving part of the crime in this exciting book, which is what sets it apart from many of the other true-crime entries.

Give this thrilling book a go and discover how you won’t be able to put it down. 

Wine Simple: A Totally Approachable Guide from a World-Class Sommelier by Aldo Sohm and Christine Muhlke

Buying wine can be a real jungle for us normal people. So many options and not near enough knowledge about all the different grapes and the different countries.

And those wine tastings where you barely understand the adjectives used to describe the wine. Oh the possible mocking from that one friend who thinks he is a sommelier. Well, fear not.

This book makes it all approachable with fun illustrations and charts and has you tasting wine like a pro at your next restaurant outing.

Challenge accepted! by Celeste Barber 

Celeste Barber is an Australian comedian who also slays on Instagram. She made herself insta-famous by doing funny parodies of celebrities and posting videos of it on the app. Seriously, if you haven’t seen it yet, go follow her.

This book is basically a really funny memoir of her life, with both ups and downs, all written in a hilarious way. It is actually more a mix of a memoir, an advice manual and a comedy routine. If you need an easy-to-read book that makes you laugh, you should definitely check Challenge accepted! out. 

The Shining by Stephen King

This book is a definite classic and if you haven’t read it yet, this is your time.

This horror novel, which was later adapted into a film (you should really watch that as well), was Stephen King’s first hardback bestseller – and there is a reason for it. The book revolves around the main character Jack and his family, who gets into some scary business at a hotel.

You should really just give it a go, maybe just start reading in the daylight if you spook easily. This could be one of the books where a little break is needed from time to time. 

Bridget Jones’s Diary by Helen Fielding 

Again, a real classic but not the scary kind. This comedy novel, also described as a chicklit, is written in the form of a diary, written by the protagonist Bridget Jones.

She is a single, thirty-something woman working and living in London. The book tells funny stories about her relationships, worklife, family and self-image, amongst other things.

If you end up getting caught up in this book you are lucky – there are two more books in the series, Bridget Jones: The Edge of Reason and Bridget Jones: Mad About the Boy. So keep reading and prepare yourself to laugh and feel for poor Bridget, life isn’t always easy. 

Bitcoin is a digital currency that has gained massive popularity in a short time span. Currently, it is the most valuable cryptocurrency, which is one of the primary reasons behind its popularity. Despite that, there are several people who don’t have enough knowledge about it. If you are planning to invest in bitcoins, first, you need to learn how to store them safely. It has no physical appearance, so special digital wallets are sued for storing it, which is known as bitcoin wallets. You can use this New Option for Trading Bitcoin and to learn about different types of bitcoin wallets and choose the most suitable one.

Paper wallet 

There are different types of bitcoin wallets, but one of the unique ones is the paper wallet. A paper wallet is an offline wallet that is a piece of paper that stores all your private keys and bitcoins. It has a QR code on it, which you can scan to transfer the bitcoins to your wallet and make transactions. It is not much popular nowadays, but if you want to learn some information about bitcoin wallets, it is a great option. You need to be immensely careful while using a paper wallet as it requires to be stored safely. If you lose it, you may lose your bitcoins forever.

Earlier, paper bitcoin wallet was quite popular, but with the increasing popularity of digital wallets, its importance has declined to a great extent. It is quite secure as it stores your private keys offline, which makes it impossible for online attackers to steal them. There are numerous paper bitcoin wallets, and you can easily choose the best one.

Mobile wallet 

If we talk about accessibility and ease you there is no better option than mobile bitcoin wallets. It is the most commonly used wallet all over the world as it allows users to access bitcoins and make transactions over their mobile phones. Mobile wallets are the wallets that you can store on your mobile phone and access your bitcoins anytime and anywhere. It is quite easy to use as all you need is a stable internet connection.

There are different operating systems used in mobile phones, so while choosing a mobile bitcoin wallet, you must ensure that it is compatible with the operating system used by your mobile phone, such as iOS, Android, Windows, etc. Before you choose a mobile wallet, there are few crucial factors you need to consider, such as security, backup, User Interface, Private keys control, etc.

Desktop wallets 

The computer has become an inseparable part of our lives, and due to that reason, there are some bitcoin wallets that you can install on your computer as software and use with great ease. These bitcoin wallets are known as desktop wallets which you can install on different desktop operating systems such as Mac, Windows, etc. Most of the top bitcoin wallets have their desktop version, which you can access on any computer.

If you are using a desktop bitcoin wallet, you must have an Internet connection along with Antivirus and firewall installed on your system. Desktop wallets are at high risk of being hacked or attacked by online attackers, so you must take all the necessary precautions to minimize the risks to some extent. Such wallets are easy to use, but if we talk about security, they might not be a good option.

Hardware wallets

A hardware Bitcoin wallet is a physical USB device in which you can store private keys and public addresses. It is the safest way to store private keys as it is offline, which safeguards your bitcoins from all kinds of online threats. It is a USB device with a screen and few buttons for navigating through different functions. You can connect the hardware wallet to a PC to access the bitcoins, and the best part is that it is immune to all viruses. So, you can insert it even in an infected PC without any tension or worries.

Hardware bitcoin wallet may be a bit costly as compared to other wallets but if you want to get maximum security, paying a bit higher price is entirely worth it. You can store over 20 cryptocurrencies in hardware wallets which is quite impressive.

When it comes to digital currency such as bitcoin, security is the biggest concern. Bitcoin has minimum regulations, which make it easier for hackers to steal or misuse them.

So, before you start using bitcoins, you need to know how to store them safely and maintain your wallet’s security. There are several risks when you are using bitcoins, but you can avoid all those risks and maximize security if you take certain precautions. You can use this software for some crucial security tips that you need to know about.

Maintain separate wallets

One of the biggest mistakes that most novice bitcoin users make is using the same bitcoin wallet for all transactions. It makes it easier for hackers to trace your wallet and hack it.

If you want to enhance your crypto wallets’ security, you must keep different wallets for varying purposes. For instance, you can maintain a separate wallet for savings and a separate one for making daily transactions. It will allow you to store the bulk of your bitcoins in a different wallet and use the daily purpose wallet for making transactions.

There are different types of bitcoin wallets, and each one of them serves a different purpose. So, for daily transactions, you can use a mobile wallet as it is highly accessible, and for keeping your savings, using a cold wallet will be an excellent option. It will store the bitcoins offline and safeguard them from different types of online risks.

Choose a good password

If you are using an online wallet for storing bitcoins, it is crucial to choose a strong password for it so that no one is able to crack it. You must avoid using the same password that you are using for your other social media accounts, as it will increase the risk of hacking. Using an identical password will make it easier for hackers to gain access to your wallet and steal all your bitcoins. Setting a password is a crucial task, and you need to know that how you can make your password strong and unique.

You must avoid using any common word related to you in the password, such as name, date of birth, etc. The password for your wallet must be strong and should be a unique combination of numbers, alphabets, and symbols. The better combination you will choose, the more difficult it will be for anyone to guess it. For additional security, you can turn on some security features such as 2FA in your wallet.

Avoid keeping bitcoins with an exchange 

There are several online bitcoin exchanges that allow you to store funds with them. You should avoid keeping your money with any exchange as it increases the risk of losing. Keeping your funds with the exchange means that you are offering control on your money to the bitcoin exchange, which not safe. You should not hold that many funds which you need to make a transaction, and once it is completed, transfer your funds back to the wallet.

Bitcoin exchanges are at significant risk of being hacked, and if that happens, you may lose all the bitcoins that you have kept with the exchange. The worse part is that lost bitcoins cannot be irrecoverable, so you must take all the precautions and ever store bitcoins with any online exchange.

Use hardware wallets

There are different types of bitcoin wallets that confuse the users as they are unable to find which one is the safest. If security is your priority, there is no better option than a hardware wallet. A hardware wallet is an offline USB device in which you can store bitcoins and access them by inserting them into any computer system. A hardware wallet keeps your investment safe from all risks, so it is highly recommended. It is almost impossible to hack offline wallets, as even if you connect them to an infected system, your crypto assets will not be harmed.

If you don’t have enough knowledge about hardware wallets, you must gain some information so that you can compare different options and choose the one that offers the most convenient and useful features.

Trading in the bitcoin is prevalent nowadays because it provides the trader with a lot of income. There are various other sources of income, but when it comes to trading, you should always trade-in bitcoin because it provides you with many advantages. If we talk about the plus points of trading in bitcoin, there are many of them. The list is endless, but you will not enjoy them if you do not have the appropriate knowledge about it.

Before you enter the bitcoin trading market, you need to make sure that you have all the necessary details in your hand regarding the bitcoins. You should also know about the best ways of trading in bitcoin.

Therefore, to enlighten yourself with bitcoins’ vital information, you should get a guide. A guide is going to help you in the path of making huge returns out of bitcoin trading and will also make it very easy for you to trade in the bitcoin. We will provide you with some essential details that you should know about bitcoin trading as a beginner and as an expert.

The basics!

When you join the bitcoin trading world, the first thing you should know about bitcoin is its basics. You should know about what is the origin of bitcoin and how it grew. We are glad to tell you that it was in 2009 when a Japanese man first originated bitcoin.

The purpose of creating bitcoin was nothing else but facilitating everyday trade for the people. It was supposed to be used for making daily transactions, but it failed to serve its purpose when it became trendy among the people.

As bitcoin was very popular among people back then, people started to consider it an opportunity to invest money. Because of this thing, many people were attracted to bitcoins, and it led to the creation of cryptocurrency exchanges.

Cryptocurrency exchange the place we are different people collaborate to give and take bitcoins to make money. As the bitcoin was traded over the cryptocurrency market, people started making money out of it, and the trend continues till today. You can use pattern-trader.app about the basics of bitcoins and also any other information about bitcoin trading.

How to begin it?

The question that will arise in your mind when you are entering the bitcoin trading market is how should you begin. The answer to this question is pretty much straightforward, but we are going to explain it in detail so that you do not face any problems.

In the forthcoming points, we will tell you about the important steps you have to follow for becoming a bitcoin trader. You need to make sure that you consider the below-given steps accurately so that you can make money out of bitcoin by entering into the world of bitcoin trading in the right way.

1. At first, you need to do thorough research about the market of bitcoin trading. The purpose of doing research is to find the best cryptocurrency exchange. It is none other than a perfect cryptocurrency exchange where you will trade your cryptocurrency and get a lot of returns.
2. The second step you have to follow in becoming a bitcoin trader is creating an account on the cryptocurrency exchange. You need to make sure that you give all your important details that are asked by the cryptocurrency exchange to not face any problems in the future.
3. When you have created an account on the cryptocurrency exchange, the next thing that you have to do is find a good bitcoin wallet. A bitcoin wallet is a place where you are going to store your cryptocurrencies under a password-protected space. This will ensure the complete safety of your funds, and you will not lose your bitcoins to any hacker.

The above mentioned are some of the vital steps you have to follow to become a bitcoin trader. After following the above-given steps, the only thing that you have to do is purchase and sell bitcoins. You have to look for a margin in your transaction of both selling and purchasing, which will be a profit in the short run.

People listen to music for three main reasons:

• It helps them improve their performance on certain tasks. Many people listen to music while driving, working, or studying because it helps them combat boredom and stay focused.
• It’s intellectually stimulating – discovering new types of music and analyzing their complex structure can be rewarding in and of itself.
• Music can influence your emotional state. People often listen to music in order to manipulate their own emotional state and achieve a desired mood.

But why do we like different genres of music? Someone who loves classical music could probably give you a few reasons why that’s their favorite genre. Maybe they’ll list a few objective reasons about how the structure is much more complex than that of pop music and about the intellectual and emotional stimulation it provides. Or they might give you more subjective reasons about how classical music makes them feel and the memories it evokes.

However, science teaches us that the origins of tastes in music lie in the brain itself. Before we interpret the emotional meaning behind music, we process the sounds through our auditory system. Research in this field is still in its early stages.

Music and the Brain

We process music in a similar way to how we process speech. Our ears filter soundwaves based on frequency, and the cochleae encode the pitch. This encoded information is sent through the auditory pathways to the auditory cortex in the brain. Multiple brain regions are activated by listening to music. Some have to deal with elements like pitch, timbre, and other sound qualities, while others are involved in emotional processing.

But how does this influence musical preferences? As we said before, research is still in its early stages and, from a scientific point of view, this is a fairly complex question. One study led by psychologist David Greenberg from Cambridge University found a correlation between cognitive styles and music preferences.

The more than 4,000 participants were divided into three categories:

• Type E or Empathizers – people who tend to focus more on emotions and thoughts
• Type S or Systemizers – people who are more preoccupied with systems and rules
• Type B or Balanced – people who are a balanced mix of the previous two cognitive styles

The researchers found that Empathizers preferred mellow music with emotional depth from genres like soft rock, while Systemizers preferred intense music with complex structures like classical music or heavy metal. Participants with the type B cognitive style had a broader range of musical preferences.

Music and Personality

The personality traits that have been shown to have the greatest influence on our musical preferences are openness to experience and extraversion.

People who rate high in openness to experience tend to like music that can be categorized as novel, complex, intense, and rebellious. This refers to genres like classical, jazz, blues, rock, alternative, and heavy metal.

Nowadays, most people listen to a broader range of musical genres since access to streaming platforms, free music mp3 downloads, and YouTube videos has made it easier to explore and experiment. However, people with a high score for openness to experience show a stronger preference for diversity, with the exception of popular forms of contemporary music, which seems to be a limit to their openness.

Aesthetic appreciation is one of the facets of this personality trait, which might be why they prefer complex music. 

Studies also found that openness to experience also influences how intensely people react to music on an emotional level.

Lastly, novelty seems to be an important factor in musical preferences for people who score high on this personality trait. Repeated listening seems to make them like a song less, while it has the opposite effect on people who score low on openness to experience.

Extraverts show a preference for conventional, upbeat, happy music, and they also tend to listen to background music more often than introverts. One study compared how easily introverts and extraverts get distracted by background music and found no differences, so the variation in preference must be attributable to another factor.

Extraverts tend to be the people that most rely on music to combat the boredom associated with mundane activities like driving, cleaning the house, or ironing.

Extraverts also prefer music that facilitates movement and dancing.

Music and Mood

Your current mood also affects the type of music you choose to listen to. You probably already know this from experience. People with depression tend to listen to sad music because it makes them feel calmer. You may think this is counter-intuitive because it would make more sense to listen to happy, upbeat music. However, research suggests that listening to low-energy, sad music facilitates the production of the hormone prolactin in some people, making them feel more relaxed.

Going back to the study from Cambridge University, it’s possible that Empathizers have a larger hypothalamic region that governs the pituitary gland, which in turn produces prolactin.

Other research looks at how listening to mellow music affects the production of the hormone oxytocin, which also makes you feel more relaxed.

Music and Identity

Musical preferences can also be influenced by how you see yourself and by how you want others to see you. Certain styles of music reinforce people’s self-views. For instance, if you see yourself as an intellectual, you might be more likely to explore classical music or jazz, styles that are often associated with intellectuals. If you see yourself as a rebel, you’re more likely to explore rock or heavy metal. Similarly, people who view themselves as active and athletic will show a preference for vigorous music.

We form our identity, in part, through the sort of environment we grow up in and the people we form connections with. If a certain genre of music is popular in your environment and social circle, you’re more likely to listen to it and see it as part of your identity. This also explains why there are generational differences in terms of music taste.

Lastly, our taste in music is also a way to express our internal characteristics. Just like how we dress a certain way because we feel that it expresses our personality, we share our musical preferences with others as a way of showing them traits of our personalities.

If you landed here then, there’s a high chance that you might be eyeing some strategic tips to expand your courier service. You probably have gone through the daunting processes of starting the company already. It’s high time to look for effective ways to grow your business in new areas but very confused about proceeding concerning the courier service. It’s quite a common question from novice courier service providers, especially one that we get asked a lot. That is why we have analyzed the checklist for beginners and make sure you walk through each.

These tips can guide you on proper ways to expand your newly established courier service in such a diverse market. Whether you go with quality tracking services like Speedpak tracking or head on to any other, this list is perfect for you. 

• Include Additional Services 

The best way to expand your current service business is to include more services. For instance, a bike courier can invest in a quality bike to cover parcel deliveries more easily. If you are not short on money, then you can also expand by adding secondary locations. Or you can simply buy a more logistic-friendly vehicle that supports your niche very well. The options and choices are endless, and each has got its benefits. You can use several systemic ways, such as Speedpak tracking, to maximize your services. 

Possibly, there are several other ways to get more customers, such as joining quality services auction sites. Sites like Shiply are very well known in the industry for allowing you to access high-quality return parcels in a way similar to eBay. The feedback obtained can assist you as well with the reputation of your service. It all comes down to how you treat your customers. 

• Advertisement

Companies spend billions on advertising their products and services daily. Nowadays, the number of platforms that allow easy advertising is limitless for anyone. Therefore, it is highly recommended to explore every promotional way and see what suits you the best. You can start with the simplest one using social media where there’s no cost, and the audience is already built. However, if you are not scarce on time, starting a blog is definitely an essential step. Start creating quality and engaging content where you can turn your audience into potential customers. 

If you haven’t got that much time for anything but have no problem with capital, then why not merely investing in a website? It will not only increase your overall company’s image but will also leave a good impression within the country. You can also leave your customer’s reviews as positive testimonials to maximize your impact. Another cheap yet effective method is branding. Branding matters so much in any industry as it gives you a professional impression globally.

• Keep on Improving 

Running a business is as complex as choosing a delivery business, you will get knocked down many times. Many people waste a lot of money as well as time ignoring this aspect and making mistakes. Negative feedback and criticism are inevitable, and if you don’t get used to it; also, open arms for constructive feedback. You can utilize every resource and system like Speedpak tracking to your advantage as well. You have to keep on improving yourself no matter the cost and keep impacting the industry. 

Conclusion

 So, these are the tips that can help every novice to the experienced person trying to expand the delivery service industry. It is not necessary to follow them all. However, it can increase the success of your business if followed effectively. Moreover, these tips are best for anyone, whether experienced or not and will boost your business’s public image even more.

The last decade saw an explosion in a new form of online marketing that employed the power of social media influencers than it made celebrities. Celebrities, due to their popularity, have always had the following that traditional advertising and marketing have always tried to leverage, but the advent of social media has turned the tables in the marketing world.

Part of the reason for the changes in how things are being done lies in the fact that celebrities are a lot less relatable than the influencers who are taking over from them. While the celebrities might come across as being affluent and coached in their attempts to deliver certain brand messages, influencers tend to seem more genuine.

It also helps the cause that their following on whatever platforms they occupy is due to their ability to initiate engagement and conversations with their followers rather than on any sort of screen occupation.

This isn’t to say that celebrities are no longer being considered as a marketing tool but, more and more, are starting to break the mould of conventional advertising and marketing while taking a claim in the industry.

One of the biggest platforms through which motivators are making their mark and spreading their messages is YouTube, the largest video-sharing platform in the world. The popularity of the platform has risen with this generation, with YouTube replacing television as the biggest video provider and, hence, the most efficient medium of advertisement.

As a result, YouTube followers and views are consequently replacing television numbers as advertising metrics with websites like videofollowers.com make a business out of this and provide great value for such a following. 

How do YouTube influencers influence us?

While celebrities continue to captivate audiences and fans alike, they have always acted as brand ambassadors from a position of affluence and churned-out coached impersonal adverts.

While it is refreshing to see your favourite celebrity recommend to you a product, it is way more effective to get the same recommendation from someone you can relate to and this is why these people are so influential. They can relate to their followers on a personal level.

They drive engagement with people and nurture online relationships that make them a more trusted adviser than an impersonal advert; even one coming from a loved celebrity.

YouTube motivators tend to take this a step further with many designing contents to match the wishes of their viewers and even scouring the comment sections to interact with them better. This has probably factored in the preference that many people, mostly Millennials, have for videos posted by individual influencers as opposed to those created by brands.

What do YouTube influencers do?

At the heart of an individual influencer’s trade is not just an ability to communicate and build online relationships but also the acquisition of the relevant expertise.

At the end of the day, having followers would only truly be possible if you know what you are talking about. Expertise, in this sense, would include the traditional knowledge of certain products, knowledge of the needs of your target audience, and the ability to make sound deductions on the relevant issues.

You would agree that it would be really difficult to drum up a following for oneself on YouTube without possessing relevant information or knowledge on how that information should be best used.

This, along with the nature of the platform, makes it easy for influencers to do what they do. The video-sharing platform means that they have both a voice and a recognizable face.

As such, YouTube influencers can create loads of content, sharing their opinions and experiences with certain products and services directly with their viewers and followers. This personal means of marketing has the dual benefit of helping to advise while putting a face to the words to drum up viewer loyalty.

Thus, it is not surprising that some of the most popular niches for YouTube influencers are those that are more interactive. Examples of these are:

• Lifestyle
• Fashion
• Gaming
• Skincare
• Fitness

A particular hotbed that has seen a lot of influencing and brand development from YouTube influencers is the fashion industry, with skincare and fitness not far behind.

Why are YouTube influencers so popular?

Honestly, the best way to answer such a question is to look at the advantages they bring for both the companies employing them and the individuals following them.

• One of the biggest reasons for the popularity of social media influencers with companies has been their ability to improve sales. This might seem like what you’d expect from advertising but motivators have shown better results than traditional advertising methods.
• Individuals that tend to listen to and follow influencers trust them. This trust is usually due to a track record of honesty and openness with their opinions, while still providing good advice. The trust people have in their favourite influencers is most exemplified by the loyalty they show to their personal brand.
• Most corporate brands are starting to prefer the services of an influencer to those of a celebrity. The increase in influencer marketing budgets over the past three years lends credence to this. It isn’t very unpopular nowadays to see celebrities following the trend and lending social media influence on platforms like YouTube.
• People find advice more accessible on YouTube than the television. Traditional ads would be shown during a break from your favourite show but it isn’t going to be accessible at all times. Advice from influencers can be gotten by simply picking up our phone and opening the right app.

As earlier stated, the rise of YouTube influencers hasn’t led to a complete rejection of traditional advertising and marketing mediums but rather, they tend to work hand in hand with influencing and securing more of a market share by the year.

This is partly because older generations are still more likely to be convinced of products merits via TV adverts. However, the popularity of influence as a marketing tool is gradually coming to stay with even accomplished celebrities like Jessica Alba joining the movement.

How does the streamlined tax amnesty program work?

Are there any fines or penalties?

Darryl is an experienced EA who has expertise in the Streamlined Offshore Filing procedure.

The IRS’ Streamlined Tax Amnesty Program helps those who are late to filing or have filed incorrectly to file overdue or amended tax returns. This is a very generous programme that will get you into tax compliance without the penalties. 

Who is the amnesty tax program for?

1. US citizens living overseas who have not filed tax returns, who were unaware of their tax filing requirements. It is possible for Green Card Holders to use this programme as well, if they are still legally permanent residents of the US and meet the criteria. 
2. US citizens or Green Card Holders who have filed incorrectly, not understanding the full extent of their conduct in a foreign country, needing to amend their returns.

For those who left the US a long time ago (say, 10, 20 or 30 years ago), incorrect online advice may have said that they didn’t have to file. Every client will be looked at case by case, but if all of the criteria is met, then these people can file. 

If you have been filing incorrectly, it is often the result of being a significant shareholder of a company and not filing anything for this, filing a US tax return but only including US income, or unintentionally owning a company, partnership or trust. Those with cases like this will need to file amended tax returns for the past 3 years.

What criteria do I need to meet to use the amnesty tax program? 

In at least one of the most recent three calendar years (January 1 to December 31), you were living outside of the US for at least 330 full days. For all three of these years, your tax returns need to be overdue. Even if you spent two of these years in the U.S. receiving U.S. income on these returns, you can still go through the amnesty programme.

Your eligibility to use the program does not depend on your income or the length of time that you have not filed for. Simply, to be eligible, you must meet the non-residency requirement and prove unintentional compliance through a good faith misunderstanding of the law. Your failure to file, report income or pay taxes must be a result of non-willful conduct. 

The residency requirement is not about where you physically were present, but where your tax home has been. For those 330 full days, your tax home must have been outside of the US.

Does the streamlined programme require me to explain why I have failed to be tax compliant?

When going through the amnesty program you will be required to provide a statement of fact (also known as an ‘offshore certification’) with an explanation as to why you did not file or pay. Be careful not to excessively disclose information as this can lead to added questions and complications. You will also need to make a written promise that you will file on an ongoing annual basis.

Will I have to pay penalties or fines if I use the amnesty program? 

Through the amnesty program, you will avoid all of the following penalties if all criteria are met:

• Failure-to-file or failure-to-pay penalties 
• FBAR penalties 
• Information return penalties 
• Accuracy-related penalties
• Negligent FBAR penalties 
• Criminal penalties

However, you will owe late interest for the previous 3 years, even if you are filing an amended return.

If you have tax due prior to the previous 3 years (2017, 2018 and 2019), this will not have to be paid if you are accepted by the IRS and qualified into the amnesty program. Effectively, you are legally ‘off the hook’ for anything you owed before the previous 3 years.

What are the main components of the amnesty program? 

1. 3 previous calendar years’ worth of tax returns – either the necessary information for overdue returns or already filed returns collected to be amended.
2. Previous 6 years of overdue FBARs (Foreign Bank Account Reports) for normal bank accounts outside of the US.
3. Statement of non-willful conduct (Form 14653).

For overdue tax returns, file Form 1040. For re-submission of an amended and accurate return, file form 1040X. At the top of the first page of either form, you must write in red “Streamlined Foreign Offshore” to ensure your returns are processed through the special procedures.

Will filing my FBARs affect what I have to pay to the IRS?

All that gets reported when filing your previous 6 years of overdue FBARs is the information on the bank, the address, whether the account was singularly held or jointly held and the bank account number. In terms of figures, only one number is translated into USD and reported on the form – being the highest balance at any point of time in the year. You should not be concerned if the money in your account spiked for a short amount of time, as it will have no impact as there is no tax to pay. 

Can I apply for the child tax credit refund while using the amnesty program? 

If you have one dependent child reported on your tax return, and this dependent is child is qualified for child tax credit purposes, you can have a refundable credit of up to $1,400. Foreign tax payments you’ve made can offset your US tax liability to 0. Because your net tax liability is already 0, this credit refund is real money given to you, not just a credit on your IRS account.

Generally speaking, it is possible to apply for the child tax credit refund while using the amnesty program, but the judgement will be made on a case by case basis. If you are eligible, you can get this credit refund as real money in your pocket.

Who can’t use the streamlined amnesty program?

Do not wait for the IRS to contact you first. If the IRS has started an investigation or sent a document to you, then you most likely won’t be able to say your non-compliance was unintentional. Receiving any notice from the IRS will most likely disqualify you from being able to use the amnesty program. 

The streamlined amnesty program is also a temporary program that the IRS can pull whenever – so use it sooner rather than later. There are no deadlines because the returns are overdue, so you just need to gather all of your information in one place and then it is just a matter of completing and filing the returns.