Kickfurther Merchant of the Week: Harvey Prince Organics

This week my Kickfurther Merchant of the Week is Harvey Prince Organics, a maker of luxury cruelty-free, vegan, gluten-free perfumes and beauty products.    Harvey Prince Organics was one of the early vendors on Kickfurther and they just finished raising money on their third offer. Harvey Prince was founded by two brothers who sought to create the perfect perfume as a Mother’s Day gift for their inspirational mother. In doing so, they realized something incredible: boutique-quality scents should not be overpriced, intimidating, and filled with toxic chemicals. The brothers crafted a fragrance, Ageless, that captured her effortless beauty and radiant aura,  When selecting what name would properly encompass their brand, the two brothers looked inward: the younger of them graduated from Harvard University while the older one graduated from Princeton University. They each had a light-bulb moment: why not combine the best of both worlds? Taking Harvey from Harvard and Prince from Princeton, the brothers agreed on the name of their brand and in 2007, Harvey Prince® was born.   

Besides selling on their own website, where they offer both full and sample sizes, Harvey Prince Organics products have been in Ipsy and Birchbox, where they are well-reviewed.  

Today we are visiting with Karthik Aggarwal, Communications Director for Harvey Prince Organics. 

Q:  So, which is better, Harvard or Princeton?

A:  It is like asking who is your favorite child? I can't answer this question except that "It alternates everyday”. The closet is full of tee shirts, clothing and  tea cups and slippers etc from both schools. We don't wear two tee shirts at the same time or same day. Sometimes when we layer up we wear a Princeton tee shirt with a Harvard hoodie, or vice versa.  

Q:  Ok, I just had stir the pot a little.  Your "The Story of Perfume" boxes intrigue me.  Which countries have you visited lately via those boxes? 

A:   Recently, as far as less than four months ago, we visited Italy and India (the next country to be featured - February box). We are working on a trip to France. We already visited Grasse but another visit is due to the Musee du Parfum in Paris (March box). 

Q:  I had to look up Grasse to learn that it is a city on the French Riviera.  Have you had any feedback on the Italy box?

A:   Most people are in love with Baciami. The response was so huge and it became such a popular perfume for women that Baciami will become a regular perfume available in all sizes. The scent will not be repeated in a box except as a sample vial, but not the mini roller. The Mini roller will be available to everyone for $30.  Also, something very, very important because you mentioned Grasse again.  The Story of Perfume Box was designed specially to raise awareness that we at Harvey Prince no longer believe that Grasse is the capital of all things perfume and fragrance and flavor.  We want to shatter this myth by introducing perfume ingredients sourced from many countries rich in the art of the perfume tradition. Cleopatra who was a perfume lover bestowed a lot of resources to the perfume industry in Egypt. Maharajahs in ancient India created endowments to the fragrance industries in India. The Kama Sutra mentions perfume, fragrant oils, fragrance ointments etc. as necessary products for love making. Ancients cultures used perfumes, oils, soaps, incense sticks all richly perfumed. All this way before Grasse was developed.

Q:  Are your products available in stores?  Which ones? 

A:  No. We are more and more convinced that we want to deal directly with our clients.

Q:   Which product is your bestseller?

A:   Hello, Sincerely and now Baciami are our most popular, best-selling perfumes for women. 

Q:  For the sake of new readers, Kickfurther is an investment platform that crowdfunds inventory for businesses.  Instead of investors lending money to businesses, Kickfurther, on behalf of investors, purchases the inventory, and then returns it to businesses to sell on consignment.  As the inventory sells, investors receive their investment back, along with an agreed-upon profit.  How did you hear about Kickfurther, and what made you decide to try it?  

A:  We were contacted by them and we liked the concept. We really thought this concept was strong and would grow and gain popularity sooner or later.

Q:   How, from your viewpoint as a manufacturer, is Kickfurther better and worse than conventional financing? 

A.   Better, if the interest payback is in line with or better than other financiers.  All things being equal, if we had a choice between private corporations like banks and individual people, we would chose to empower the public directly. Power to the people. Power to disruption.

Q:  You just funded your third offer, and I was one of your backers.   I guess that means Kickfurther is working for you.  Would you recommend it to other businesses?  

A:  YES.  Absolutely. We know banks are not lending as much these days and instead investing in other products. Moreover, banks do not care about smaller companies. America was and still is all about little companies and entrepreneurs creating jobs and really driving creativity and the economy.

Q:    Have you tried Kickfurther from the investor side?  Would you recommend that friends invest via Kickfurther?  Why or why not? 

A:  YES and all our employees are also investors. It is a great platform and safe as long as you pick the good companies. Do not pick brand new startups that have questionable products or service. Go with companies and products you believe in. Also try to remain diversified.  

Q:  Could you tell us some  of the companies you have chosen to back via Kickfurther and why you chose them?

A:  I'd prefer not to name specific companies, but generally we pick those in the same industry as we are in.  Also we should add that we do invest in more than couple of companies. It is just good karma.

Q:  Have you picked any that have disappointed you?

A:  No.

Q:  Would you like to sponsor a Rafflecopter giveaway of a product?

A:  We don't want to hurt anyone’s feelings.  Our products are designed to make people happy.  Rather than a Rafflecopter giveaway to one person, let's giveaway the Baciami Mini roller ($30 MSRP)   for free to ALL your readers! We will also include a sampler of the Sincerely Body Cream.  They have to add both to their cart and then enter the code at checkout.  They just pay shipping and handling ($6.50 flat rate, so feel free to fill your cart with other goodies)!  The coupon code for this is code  kickitfar.  The code is good until March 15 and readers can use it as often as they want.  

Q:  That's a generous offer. Thank you!  Anything else you want to tell us about Harvey Prince or about Kickfurther?

A:  Both are great companies with a great future. Both have great products and both are disrupters. All this is good for consumers and investors.

I'd like to thank Karthik for visiting with us today.  Harvey Prince has been a good investment for me and I hope everyone enjoys their products.  

*Part of Financially Savvy Saturdays on brokeGIRLrich, Disease Called Debt and The Yachtless*

Loyal3 Lunch

How many lunches?

If you haven't been following this series, I'm trying to break my habit of eating out at lunch for no good reason.  Each day I bring my lunch gives me $5.00 to invest in stock with Loyal3, an online commission-free broker. I brought my lunch four days this week; today I had to pick my daughter up from school since they got off early after the school Mardi Gras parade and she begged me for smoothies so I was nice and bought them for both of us.

Which Stock?

I looked at my portfolio and decided to buy more Target since that's the one in which I had the least invested.  

Am I making money?

About like the market--so no.

Comments: 

Have you tried Loyal3.

*Part of Financially Savvy Saturdays on brokeGIRLrich, A Disease Called Debt and Femme Frugality*

Should I Do My Own Taxes?

Now that most tax forms have been issued, most Americans are either preparing to do their taxes or get them done, or are putting off doing them or getting them done.  Those who are expecting a refund are generally in a bigger hurry than those expecting to write a check.  Nevertheless, we all need to attend to this chore in one way or another.

So, Should I Do My Own Taxes?

Without hesitation I will say "Yes" you should, unless you have done it yourself recently, or unless you are wealthy enough that the time it takes to work through your return is more valuable than any money you might save.  However, I do not necessarily suggest that you file that return.

But I'm Not a Tax Professional; How Would I Do a Tax Return?

The same way most tax professionals do, with software.  Most of the big tax preparation software companies offer free online versions, and that is what I use.  If you go to most of the storefront tax preparation offices, you are going to work with a preparer who knows little if anything more about tax law than you do.  Those people ask you questions as prompted by the computer and fill in the answers you and/or your documents give.  They are not qualified to give legal advice or accounting advice.  They fill out forms.  You can fill out forms on your own computer.

I Don't Know--Are You Sure I Can Do It?

Yes, I'm sure.  I've done our taxes most years since we've been married (27 years), and I did my own before that.  I started with the tax form and the instruction book, moved to software from the computer store, and, for the last few years, to online software.  The software asks the questions; you answer them.  What is your name?  Social Security Number?  Your spouse's name?  Children?  How old?  Were you employed?  By whom?  Did you get a W-2?  Enter the information here.  While some of the steps are different between different programs, basically they all lead you to enter all the necessary information.  All the questions can get annoying, but the programs have been set up as a collection of "if-then" routines.  If you have children, then it asks their ages, and if one is childcare age, at some point it will ask you for your childcare expenses.  If one is college age, at some point it will ask for your tuition expenses.  Work your way through the program of your choice.  I've used Turbo-Tax, Tax Act and H&R Block's online program.  I often use two in one year to see if the results are the same; if they aren't, I try to figure out why (typing errors are the usual answer). 

I Know I Want a CPA to Do My Taxes, So Why Should I Do Them First?

There are good reasons to use a CPA to do your taxes.  If you have rental property and are figuring depreciation and deductions or if you have a business and are trying to decide of certain expenses are deductible, or if you want advice on what you can do next year to reduce your taxable income (which is different from increasing your refund)  from the business, a CPA or tax attorney may be worth the cost. If you have non-standard investments, the tax software may not know how to handle them.  However, for most people who are paid an income that is reported on a W-2 or 1099, and who have investments for which they receive tax forms from the investment company, a CPA isn't going to be able to save you any money over the computer.  If you don't believe me, do them yourself on the computer, and then get the CPA to do them.  What's the difference?

What about if you really do have a good reason to give the job to the CPA?  Do them yourself anyway, at least every few years.  Why?  Because I think every adult needs to know how their income taxes are determined.  Maybe you can really get this information from your tax form, and understand it, but given the large number of people who pay data entry clerks to do their taxes, I question how many people really understand the system.  If you understand the system, you can do a better job of making it work for you--even if that means being better prepared to question your CPA as to get the best advice from him or her.  

You Said the On-line Versions Are Free:  What's the Catch?

They make their money from the "freemium" model.  The software is free to use, but along the way they offer you the chance to buy various upgrades.  Most people can complete a return without them.  Some offer the federal return at no cost but charge for the state.

Note:  Since writing this article I have become aware that the IRS has deals with several companies that require them to offer free Federal filing, if your income is under $62,000 and if you enter the software via the FreeFile link.  Check the information on this page carefully before you start your return to make sure you are dealing with one that fits you.  I did my son's 1040EZ on one that wouldn't let me free file because of his age.  Since the form was simple, I just re-did it on another service, but had it been more complex I probably would have paid the money just to have it over with, which is what I suspect they hoped I would do.  

When Should I Get Help?

When you realize you are in over your head, that's when.  No one but you knows when that is but if you have filled out the forms, answered the questions and you can't get the error messages to turn off, or if you owe far more than you thought you would, asking for professional help may be the only answer, but see a professional--a CPA, tax attorney or enrolled agent-- not a data entry clerk at a storefront tax preparation service.  A few years ago my autistic son was in an expensive program at a school for the developmentally delayed.  It is a program that, had he made it to the top of a waiting list, tax dollars would have paid for.  However, we did not want to wait, so we paid the fees.  I wanted to know if they were deductible.  I read everything I could find about the subject, and I still wasn't sure--I was leaning toward saying they were not, but I wasn't sure, and the amount of money at stake was substantial, so I asked a CPA.  He too researched and looked at it a couple of different ways, and when it was all said and done, said that no, the expense was not deductible.  Even though he did not get the answer I wanted, I do not think I wasted my money.  On the other hand, the rest of the return he did matched the one I did, so I felt confident doing my own return the next year.  

Who Should Be Able to Do Their Own Return?

If your income is all accounted for on W-2 and 1099's, if your investments are all in things that issue yearly tax forms and if you do not own a business, then  you are unlikely to have problems with your tax return.  If you do not own a house or a business, you are not likely to be able to itemize your deductions and should be able to complete a simple tax form.  Complete your return on one of the online services and, if you paid someone to do your return last year, compare them (actually comparing your return to last year's is a good way to catch any omissions in any case).  What is different?  I'm not talking about exact numbers--a person who earns exactly the same from one year to the next is probably rare--but look at the lines.  Did last year's return have an entry on line 19?  Why?  Does this year's return?  Why or why not?  Do that for each line.  For most people, filling out tax returns is tedious, not hard--and by the time  you've gathered the information for the tax preparer (whether that person is a data entry clerk at a storefront service or a high-priced tax attorney) you've already done half the work.  

You probably can do your own taxes and you should have an understanding of how your taxes are computed, which is information best learned by completing a tax return. Try it, even if you do decide to hire someone to do the final copy.

*Part of Financially Savvy Saturdays on brokeGIRLrich, A Disease Called Debt and Femme Frugality*