Konstantin Lichtenwald of Vancouver recently discussed how to keep your cool when the stock market plunges.
VANCOUVER, BRITISH COLUMBIA / The coronavirus pandemic has put the stock market in turmoil. Investors have seen the market rapidly alter from record highs to a drastic crash. However, Konstantin Lichtenwald of Vancouver explained that while the coronavirus pandemic primarily caused this crash, a market doesn’t need a pandemic to drop drastically without warning.
Konstantin Lichtenwald of Vancouver explained that a down market is not uncommon and crashes have happened countless times over the years. He stated that it’s inevitable for investors to experience a crash at some point, so it’s best to be mentally and financially prepared. Konstantin Lichtenwald of Vancouver recently explained how to stay calm when this occurs.
“It’s best to prepare yourself for a crash, knowing that one will likely occur in the future,” Konstantin Lichtenwald. “I recommend following five simple steps to ease your nerves when this occurs.”
First, Konstantin Lichtenwald of Vancouver explained that investors should be prepared with a diverse investment portfolio. Investing a portion, such as 30 percent, of your money in a diversified bond fund will provide the security you need to ride out the storm.
Second, Konstantin Lichtenwald of Vancouver suggested understanding that you took the risk to invest in the stock market, and ups and downs are only natural. Remember that downturns in the market are eventually followed by terms of growth. Konstantin Lichtenwald added that you may be feeling emotional, but he recommends resisting the urge to sell. You don’t want to sell a good long-term investment solely because you’re feeling stressed.
“While I don’t recommend selling investments made for long-term growth, I do recommend being willing to grab investments while stocks are dropping,” Konstantin Lichtenwald of Vancouver said. “This can be a prime time to scoop up stocks you’ve wanted to own but had prices that were too high.”
Finally, Konstantin Lichtenwald explained that you shouldn’t be afraid to get a second opinion. A qualified financial advisor can help you assess your current portfolio and rest your nerves. In fact, Konstantin Lichtenwald of Vancouver stated that many financial advisors hire financial planners to help them do the same. A second set of eyes can catch any issues and help you make wise investments during the downturn.
“Mostly, I encourage my clients to remain calm when crashes like this one we’re currently experiencing occur,” Konstantin Lichtenwald said. “The coronavirus pandemic will pass, and we just need to remain patient.”
Konstantin Lichtenwald of Vancouver recently discussed Disney’s latest stock jump despite annual loss.
Theme parks around the globe have taken on serious losses in 2020 due to the coronavirus pandemic. However, despite suffering serious losses in 2020, Disney stocks have begun to rise again. In fact, shares of Disney were up almost 12 percent last Monday. Konstantin Lichtenwald recently discussed this jump and what it means for the theme park industry.
“This rise can partially be attributed to BioNTech and Pfizer reporting positive vaccine results to combat the COVID-19 pandemic,” Konstantin Lichtenwald of Vancouver said. “This news has pushed investors back toward tourism-related stocks.”
Konstantin Lichtenwald of Vancouver explained that a possible vaccine for the virus could mean that people will resume traveling, attending theme parks, and pursuing other types of entertainment soon. For months, investors have been choosing technology stocks over-tourism stocks, as people around the globe have been inside their houses using their phones, computers, and other tech items for entertainment.
Konstantin Lichtenwald stated that Disney parks experienced monumental losses in 2020, resulting in more than 28,000 of the company’s employees being laid off in September. Disney reported taking a $3.5 billion loss in its operating income during the fiscal third quarter. This is because park doors were shuttered during this time. Konstantin Lichtenwald of Vancouver added that the Disney Experiences and Products sector, which includes merchandise, resorts, and cruises, was down 85 percent in that quarter. Studio entertainment revenue, including movies and television, fell 55 percent.
“The development of a vaccine could be incredibly positive news for the tourism industry and worldwide economies,” Konstantin Lichtenwald of Vancouver said. “Investors are starting to get excited about the economy reopening and changing focus.”
Konstantin Lichtenwald of Vancouver stated that controlling the pandemic could mean incredible things for Disney, a business that is currently flailing at its core. Despite this recent jump in the market, Konstantin Lichtenwald said it appears that the company will need a lot of time to regain the losses it has experienced due to COVID-19.
Konstantin Lichtenwald added that the company has recently switched focus away from its theme parks to the Disney Plus entertainment streaming service, which can be likened to Netflix. The company reported 73 million subscribers around the globe and will continue to rely on this revenue to keep the company afloat while waiting for the vaccine to reach the public.
Konstantin Lichtenwald of Vancouver stated that recent fourth-quarter losses for the company are lesser than those of the previous quarter as well, showing there could be potential for fewer losses and eventually profit in the months and years to come.
“The recent stock market jump doesn’t mean that Disney is out of the weeds, but it is a good sign for the company and the tourism industry as a whole,” Konstantin Lichtenwald said.
It Is Important To Note Key Accounting Tips To Minimize People’s Tax Burdens and Konstantin Lichtenwald of Vancouver Is Here To Discuss Them
It is critical for everyone to make sure they know how to do their taxes and how to do them correctly. This means not only following the law but also making sure that they minimize their tax burden. According to Konstantin Lichtenwald of Vancouver, some people might be paying more in taxes than they should. Therefore, there are a few key points that everyone should keep in mind. By following tips from some of the trained accounting professionals, it might be possible for people to save money on their taxes. This means more money to pay their mortgage, more money to pay for school, and more money for retirement.
Konstantin Lichtenwald of Vancouver Discusses the Differences Between Standard Deductions and Itemizing
First, Konstantin Lichtenwald of Vancouver wants everyone to know their options when it comes to deductions. Some people like to take the standard deduction because this makes things easier. Other people might want to itemize their deductions instead because they might save more money. While the standard deduction does simplify things, Konstantin Lichtenwald wants people to know that they might save more money if they itemize. Particularly for people who run their own business or who get paid via 1099, they might be able to save a lot more money by itemizing instead.
Konstantin Lichtenwald of Vancouver Discusses the Differences Between Tax Deductions and Tax Credits
Konstantin Lichtenwald of Vancouver also wants people to know about the difference between a tax deduction and a tax credit. A tax deduction comes off of someone’s gross taxable income. In contrast, a tax credit is something that is applied directly to the amount of money that someone owes in taxes. According to Konstantin Lichtenwald of Vancouver, a tax credit is actually much better than a deduction but is also harder to find. One of the most common sources of tax credits right now is solar energy; however, there is a good chance that this is going to change in the future. Therefore, it is important for everyone to keep up with these changes.
Konstantin Lichtenwald of Vancouver Discusses the Role of Working with a Trained Professional
Finally, Konstantin Lichtenwald of Vancouver also wants everyone to know about the benefits of working with a trained professional. Yes, there are some people who believe they can do their taxes on their own so they should not pay someone else to do their taxes; however, the reality is that the tax law changes on a regular basis and it is hard for the average person to keep up. Therefore, in order for people to save as much money as possible on their taxes, Konstantin Lichtenwald thinks it might be a good idea for some people to hire an accountant. Often, people save more money on their taxes than they pay their accountant.
Is Getting The Books In Order All That Konstantin Lichtenwald of Vancouver Does?
Konstantin Lichtenwald of Vancouver Is A CPA. If you have an image of a CPA sitting in a corner with accounting books and a grim expression on their face – get rid of that idea. CPAs are diversified professionals who help in various aspects of the financial realm. You don’t have to have the wrong idea any longer, take a look at Konstantin Lichtenwald of Vancouver to get a basic idea of what a CPA does. The job of a CPA is not simple or basic at all.
What Exactly Do CPA’s Like Konstantin Lichtenwald of Vancouver Do?
In short, CPAs are essentially involved with various facets of the economy. These facets include the not-for-profit sector, education, government, public accounting, as well as the industrial sector. These professionals are equipped with both strong accounting and managerial skills. Some of the skills they use include communication, which must be effective, the ability to act to protect the common and/or public interest, highly skilled analysis training, as well as the ability to exercise good judgment in all business matters.
CPA In America Is A Different Acronym From CPA Konstantin Lichtenwald of Vancouver.
In Canada, CPA is an acronym for Chartered Professional Accountants. In America, however, CPA stands for Certified Public Accountants. All over the world, these highly skilled professionals use their expertise in various ways and at various levels of the professional sphere. In Industry, CPAs manage and identify new market opportunities, make certain that the corporation for which they are employed are accountable to the laws and guidelines of that jurisdiction. CPA’s supervise the risk the company may incur while always sustaining competitive acumen.
Konstantin Lichtenwald of Vancouver Is Well-Rounded.
Konstantin Lichtenwald of Vancouver has over 15 years of experience in the finance and accounting fields. This experience includes corporate compliance, accounting, as well as financial management, and initial public offering and reverse takeover services. Konstantin Lichtenwald of Vancouver has exercised his prowess since receiving his Bachelor of Business Administration or BBA in Finance, Accounting and Controlling in 2012. The two financial jurisdictions of both North America and German-speaking parts of Europe are where he concentrates his professional efforts. He is able to use his skills to offer strategic management approaches and problem-solving skills. His specialties include providing corporate finance, valuation, taxation, financial reporting, consulting, as well as other accounting services to both small businesses as well as public companies.
In Addition To The Arenas That Konstantin Lichtenwald of Vancouver Has Chosen.
CPAs have made their practice in the government sector of society. CPAs are employed for their accounting expertise in guiding financial planning and maintaining physical control. Konstantin Lichtenwald of Vancouver has also decided to use his experience to help others. Like his chosen profession, this particular CPA is well-rounded and ready for anything.
CPA Konstantin Lichtenwald recently discussed how employees of for-profit organizations can transition to the nonprofit sector.
Job transitions are inherently stressful. They can be even more anxiety-inducing if your new position will be markedly different than the last. CPA Konstantin Lichtenwald of Vancouver recently discussed how former employees of the for-profit sector can make a smooth transition into a job in the not-for-profit sector.
“Many nonprofit organizations are seeking employees with experience in the for-profit sector,” Konstantin Lichtenwald said. “That’s because the finance departments of nonprofits have many of the same standards as for-profit organizations and businesses.”
Konstantin Lichtenwald of Vancouver added that, although the positions may seem similar, the nonprofit sector requires several skills that may be different than the employee needed in the for-profit sector. Konstantin Lichtenwald explained that employees need to have a number of “soft” skills to make the transition a smooth one.
“Transitioning into the nonprofit sector requires the employee to be highly adaptable,” Konstantin Lichtenwald of Vancouver said. “The culture in a nonprofit workplace can be quite different, as well as procedures, policies, and more.”
Konstantin Lichtenwald suggested that those in the financial department form positive relationships of understanding with those outside of the department. A positive, trusting relationship with other departments means they’ll be more responsive to your needs, and they won’t be afraid to request assistance when they need it too.
“Employees who are new to the nonprofit sector need to be flexible,” Konstantin Lichtenwald said. “Many times, nonprofits are equipped with fewer resources than for-profit companies, which means they may have a much smaller staff and need to take on additional responsibilities.”
Konstantin Lichtenwald of Vancouver explained that managing multiple projects at a single time is often a requirement of employees in the nonprofit sector. Staying organized with a task list, due dates, statuses, and more is essential. Solid communication and shared responsibility are necessary for success.
Konstantin Lichtenwald explained that those who have worked in the for-profit sector have a lot to offer nonprofit companies. This is your time as an employee to shine. Showing your ability to drive change through technology implementation, development of new policies and procedures, and creating more efficient internal controls will prove to your new employer that you’re already a valuable asset.
“Making the transition to the nonprofit sector can be a fulfilling career move,” Konstantin Lichtenwald of Vancouver said. “You may have been solely focused on financial success for your previous for-profit employer, but becoming part of the nonprofit sector means you’re working toward a mission that benefits society as well.”
Konstantin Lichtenwald explained that the transition to the nonprofit sector is one that can be done smoothly if you stay adaptable, form trusting workplace relationships, and make positive, forward changes within the company. He finished by stating that you may also find more meaning in your everyday work, which can greatly increase job satisfaction.