With today's Internet technology, you can get a student loan consolidation quickly and easily. The Internet makes research and finding great programs, easy as a few clicks of the mouse. You can learn everything you need to know from information sites that provide the latest news and data in regards to student loan consolidation. With just a few clicks of the mouse, you now can get loan quotes and compare loan companies without having to run all over town.
Student Loan Consolidation Helps Relieve Stress
Student loan consolidation can help student loan borrowers focus on their education, instead of debt. With a single new loan and lower monthly payments, you can focus on what's most important, education and your new career. There is no need to lose sleep stressing out about how you're going to pay back all those student loans. There are several agencies and companies online that can help with many resources and information to get the help you need.
Friday, August 31, 2012
Wednesday, August 22, 2012
Three Major International Business Risks You Need To Be Aware Of
Companies rapidly expanding to the global marketplace may have the great opportunities for profit, however, if unable to carefully evaluate the international business risks involve, the golden opportunity perceived may soon turn into an expensive mistake.
Doing business in the domestic marketplace may involve looking only as far as the potential customer's ability to pay and willingness to pay. When doing business internationally however, the definition of risk expands beyond customer commercial risk that includes country risk. In fact, the first thing that should be analyzed before evaluating the elements of risks associated to individual customers, is the country risk. If the country risk shows of great risk then it is senseless to continue information on the customer, but if the country risk is acceptable then the nature and extent of the country risk can help formulate the method of customer risk analysis.
International Business Risks #1 Country Risk
Approving and accepting credit to a foreign customer is also accepting the risk of the customer's country. Country risk analysis means being decisive of the country credit-worthiness in terms of the willingness and ability of a foreign government to make available to local companies' foreign exchange essential to service their foreign currency denominated responsibility or debts to foreign suppliers.
Evaluation of country risks takes into account the possibility of delayed payment or credit loss which can result from any one or a combination of four wide risk conditions such as the resource base, external accounts, political risks, and government policy. Always remember that these factors are interrelated and often overlap with each other.
International Business Risks #2 Political Risks
Analyzing the political outlook of a country maybe more important than analyzing the financial and economic matters of the country. In political risk analysis, one should look into reasonable assurance that if ever political change comes, as it always does, the change will be orderly and there will be practical continuity in basic economic and financial policies.
The possibility of suspension on external debt or even rejection should be carefully assessed. Leadership changes can also change the way in which international investment community views the economic future of the country. Wide fluctuations in currency markets can occur as well as government policies threatening to destroy investment and property of commercial investors in a country. Capital flight is inevitable usually resulting to restrictions of the country's government on the flow of currency and disruption in international trade.
International Business Risk #3 Foreign Exchange Risks
Like any other commodity, currencies also follow the law of supply and demand which is subject to economic as well as political conditions. Exchange rates can fluctuate uncontrollably, sometimes a lot of times in a day, harshly complicating a company's short-term and long-term financial strategic decisions.
The importance of analyzing international business risks should never be underestimated as all these risks have a tremendous impact on the trade of goods and services between nations and thus affecting the failure or success of a business internationally.
Doing business in the domestic marketplace may involve looking only as far as the potential customer's ability to pay and willingness to pay. When doing business internationally however, the definition of risk expands beyond customer commercial risk that includes country risk. In fact, the first thing that should be analyzed before evaluating the elements of risks associated to individual customers, is the country risk. If the country risk shows of great risk then it is senseless to continue information on the customer, but if the country risk is acceptable then the nature and extent of the country risk can help formulate the method of customer risk analysis.
International Business Risks #1 Country Risk
Approving and accepting credit to a foreign customer is also accepting the risk of the customer's country. Country risk analysis means being decisive of the country credit-worthiness in terms of the willingness and ability of a foreign government to make available to local companies' foreign exchange essential to service their foreign currency denominated responsibility or debts to foreign suppliers.
Evaluation of country risks takes into account the possibility of delayed payment or credit loss which can result from any one or a combination of four wide risk conditions such as the resource base, external accounts, political risks, and government policy. Always remember that these factors are interrelated and often overlap with each other.
International Business Risks #2 Political Risks
Analyzing the political outlook of a country maybe more important than analyzing the financial and economic matters of the country. In political risk analysis, one should look into reasonable assurance that if ever political change comes, as it always does, the change will be orderly and there will be practical continuity in basic economic and financial policies.
The possibility of suspension on external debt or even rejection should be carefully assessed. Leadership changes can also change the way in which international investment community views the economic future of the country. Wide fluctuations in currency markets can occur as well as government policies threatening to destroy investment and property of commercial investors in a country. Capital flight is inevitable usually resulting to restrictions of the country's government on the flow of currency and disruption in international trade.
International Business Risk #3 Foreign Exchange Risks
Like any other commodity, currencies also follow the law of supply and demand which is subject to economic as well as political conditions. Exchange rates can fluctuate uncontrollably, sometimes a lot of times in a day, harshly complicating a company's short-term and long-term financial strategic decisions.
The importance of analyzing international business risks should never be underestimated as all these risks have a tremendous impact on the trade of goods and services between nations and thus affecting the failure or success of a business internationally.
Sunday, August 19, 2012
Off Lease And Repo Commercial, Work Trucks And Construction Equipment For Public Sale With Dealer Leasing.
In today's present day's unbalanced economy, the start up and experienced business has a rare occasion to buy an advantageous deal for off lease and repossessed commercial, work trucks and construction equipment for auction with dealer banking. Due to a contracting market, many banks have extra inventories on their books that they want to put furnish on the street. These in-house inventories are non income producing, therefore putting strain on the bank to make a deal with the consumer. These deals can be originate in the cost, the leasing or a combination of both.
An off lease commercial vehicle and/or cementequipment has been brought back to the financial institution as the lease has termnated. The lessee has made a assessment to return the item in lieu of excercising the buyout opportunity. A repo has arisen due to a failure to pay of the lessee for non payment conditions or a breach of the provisions of the lease. Either way, the bank has taken these trucks and/or equipment back and it is necessary to put them back into working order and either retail these work, commerical trucks and construction equipment or re-lease them. The financial institution will either advertise their listing through their internal sales force or outside professionals such as brokers to reposition their inventories as fast asachievable. At times as these inventories either sit or whatever reason isn't moving, the financial institution could put these items up for sale.
For this commentary, the form of items we are going to make out as prospective deals for the patron is the following
Dump trucks, boom trucks trucks, grapple and landscape trucks, fuel and lube trucks, bucket and concrete trucks, over the road and day cabs, water trucks, tow trucks, box vans and straight trucks, dry van and drop deck trailers, conclusion and bottom dump trailers, flatbed trailers, backhoes, bulldozers, crawler tractors, forestry equipment, excavators, backhoes, and other type loaders.
A quantity of of the ways the startup and/or experienced business can obtain these deals are through trade publications, surfing internet search engines, contacting lease brokers for information and speaking to lenders directly.
A quantity of the financial institutions in the marketplace have advertised personal credit qualifications. as little as 550, former bankruptcy rules amended or overlooked and startups acceptable. In addition, the front means to commence the lease can commence as little as first payment to whatever you might able to reach a deal.
In ending, this is a buyers marketplace for commercial and work trucks, commercial trailers, and construction equipment. Check out all the opportunities in the marketplace and make sure that you have a stable income base to assume anything debt that you could occur.
Happy hunting for your commercial truck and construction equipment acquistion and its related financing.
An off lease commercial vehicle and/or cementequipment has been brought back to the financial institution as the lease has termnated. The lessee has made a assessment to return the item in lieu of excercising the buyout opportunity. A repo has arisen due to a failure to pay of the lessee for non payment conditions or a breach of the provisions of the lease. Either way, the bank has taken these trucks and/or equipment back and it is necessary to put them back into working order and either retail these work, commerical trucks and construction equipment or re-lease them. The financial institution will either advertise their listing through their internal sales force or outside professionals such as brokers to reposition their inventories as fast asachievable. At times as these inventories either sit or whatever reason isn't moving, the financial institution could put these items up for sale.
For this commentary, the form of items we are going to make out as prospective deals for the patron is the following
Dump trucks, boom trucks trucks, grapple and landscape trucks, fuel and lube trucks, bucket and concrete trucks, over the road and day cabs, water trucks, tow trucks, box vans and straight trucks, dry van and drop deck trailers, conclusion and bottom dump trailers, flatbed trailers, backhoes, bulldozers, crawler tractors, forestry equipment, excavators, backhoes, and other type loaders.
A quantity of of the ways the startup and/or experienced business can obtain these deals are through trade publications, surfing internet search engines, contacting lease brokers for information and speaking to lenders directly.
A quantity of the financial institutions in the marketplace have advertised personal credit qualifications. as little as 550, former bankruptcy rules amended or overlooked and startups acceptable. In addition, the front means to commence the lease can commence as little as first payment to whatever you might able to reach a deal.
In ending, this is a buyers marketplace for commercial and work trucks, commercial trailers, and construction equipment. Check out all the opportunities in the marketplace and make sure that you have a stable income base to assume anything debt that you could occur.
Happy hunting for your commercial truck and construction equipment acquistion and its related financing.
Friday, August 17, 2012
Long Term Payday Loans
Have you heard something about long term payday loans? Or, are there really long term payday loans? What do you think? Well, many have asked such questions and in the end most of them are left without answers. For that matter, it is then interesting to know some facts about long term payday loans, if there could be any. So read on.
Payday loans, in general, have been featured in some advertisements on the radio, television, newspaper and magazines, the Internet, and even the email. And, in recent years, payday loans have enjoyed an increased popularity as more and more loan consumers have found them to be a convenient way to obtain cash in the short term. In relation to this, several companies have experienced a high demand for payday loans from those customers who lack the credit necessary to obtain credit cards or bank accounts. For this matter, it is somehow understandable that as payday loans are considered as the convenient way to obtain cash in the short term, the idea for long term payday loans is somehow impossible. Consider the following information.
Payday loans are particularly designed as short term solutions to any kind of financial emergencies and unexpected expenses. They are not intended to serve as a long term weapon to financial issues, which most of the financial counseling firms commonly resolve. Payday loans are pretty heavily advertised even till now for the reason that companies who offer payday loans often make a very good profit on every payday loan they provide. And, as a short term loan, payday loans allow you to borrow money using your next paycheck as collateral.
In a payday loans transaction, the customer actually writes a personal check for the sum of the payday loan amount and the finance charge. The payday loans company then agrees in writing to keep the check until the loaner's next payday, which is usually about two weeks. It is noted that within this timeframe, the payday loan customer has the option to redeem the check by way of paying back the payday loan amount as well as the additional finance charges, or the payday loan company will just cash the check on the exact date dealt to by both parties.
In some instances, given that payday loans are short term and not long term loans, the transactions are usually fast. You get the money from such loans right away. And, in terms of its amount, it is a usual idea that the amount range from under two hundred dollars to five hundred dollars.
However, while payday loans can be great in an emergency, always note that there is a basic pitfall with payday loans and that is you pay far more for your money. These loans do not only charge you with very high interest, but the fact that most of the companies today offering such loans may even charge robust administrative fees for payday loans. Thus, you may end up paying more than 800 percent on a particular payday loan if you do not pay it off with your next paycheck. The problem then is that these credit services are meant to be used in the short term and only occasionally.
So, are there long term payday loans?
Payday loans, in general, have been featured in some advertisements on the radio, television, newspaper and magazines, the Internet, and even the email. And, in recent years, payday loans have enjoyed an increased popularity as more and more loan consumers have found them to be a convenient way to obtain cash in the short term. In relation to this, several companies have experienced a high demand for payday loans from those customers who lack the credit necessary to obtain credit cards or bank accounts. For this matter, it is somehow understandable that as payday loans are considered as the convenient way to obtain cash in the short term, the idea for long term payday loans is somehow impossible. Consider the following information.
Payday loans are particularly designed as short term solutions to any kind of financial emergencies and unexpected expenses. They are not intended to serve as a long term weapon to financial issues, which most of the financial counseling firms commonly resolve. Payday loans are pretty heavily advertised even till now for the reason that companies who offer payday loans often make a very good profit on every payday loan they provide. And, as a short term loan, payday loans allow you to borrow money using your next paycheck as collateral.
In a payday loans transaction, the customer actually writes a personal check for the sum of the payday loan amount and the finance charge. The payday loans company then agrees in writing to keep the check until the loaner's next payday, which is usually about two weeks. It is noted that within this timeframe, the payday loan customer has the option to redeem the check by way of paying back the payday loan amount as well as the additional finance charges, or the payday loan company will just cash the check on the exact date dealt to by both parties.
In some instances, given that payday loans are short term and not long term loans, the transactions are usually fast. You get the money from such loans right away. And, in terms of its amount, it is a usual idea that the amount range from under two hundred dollars to five hundred dollars.
However, while payday loans can be great in an emergency, always note that there is a basic pitfall with payday loans and that is you pay far more for your money. These loans do not only charge you with very high interest, but the fact that most of the companies today offering such loans may even charge robust administrative fees for payday loans. Thus, you may end up paying more than 800 percent on a particular payday loan if you do not pay it off with your next paycheck. The problem then is that these credit services are meant to be used in the short term and only occasionally.
So, are there long term payday loans?
Monday, August 13, 2012
Ordinary Income v. Capital Gains on Selling Foreclosed Property
Ordinary Income v. Capital Gains on Selling Foreclosed Property
WENDELL V. AND SHARON T. GARRISON v. COMMISSIONER
U.S. TAX COURT
December 1, 2010
Facts: Wendell Garrison, in the years under question, 1998 to 2000, was a Mortgage Broker making about ,000 a year from his mortgage business. Also during this time period he and his wife bought and sold foreclosed properties, flipping them as quickly as possible, holding them for a period averaging about four months. The Garrisons reported the income from the properties as capital gains rather than ordinary income. The IRS claimed that the properties were not bought as longer-term investments, but were merely inventory in the ongoing business of buying and quickly reselling foreclosed houses. The IRS sent a notice of deficiency stating that since this was ordinary income, self-employment taxes were also due against the earnings. The Garrisons appealed the ruling to the Tax Court
Analysis and Conclusion: Prior Court rulings have outlined the criteria for whether the buying and selling of property should be considered capital gains or ordinary income (see box below). Since the Court saw the Garrisons as buying and selling homes on an ongoing basis, rather than investing in them for the longer term, the Court considered their activities to be a Schedule C business earning ordinary business income. Therefore, they had to pay employment taxes on their selfemployment income. The ruling was in favor of the IRS.
Notes: This is a particularly timely case with the vast amount of foreclosures currently on the market. No doubt, if one of your clients dabbles in the business of buying and selling foreclosed properties, they need to understand that their activities can be considered a side business earning ordinary income.
Source: National Society of Tax Professionals: Federal Tax Alert, December 2010
WENDELL V. AND SHARON T. GARRISON v. COMMISSIONER
U.S. TAX COURT
December 1, 2010
Facts: Wendell Garrison, in the years under question, 1998 to 2000, was a Mortgage Broker making about ,000 a year from his mortgage business. Also during this time period he and his wife bought and sold foreclosed properties, flipping them as quickly as possible, holding them for a period averaging about four months. The Garrisons reported the income from the properties as capital gains rather than ordinary income. The IRS claimed that the properties were not bought as longer-term investments, but were merely inventory in the ongoing business of buying and quickly reselling foreclosed houses. The IRS sent a notice of deficiency stating that since this was ordinary income, self-employment taxes were also due against the earnings. The Garrisons appealed the ruling to the Tax Court
Analysis and Conclusion: Prior Court rulings have outlined the criteria for whether the buying and selling of property should be considered capital gains or ordinary income (see box below). Since the Court saw the Garrisons as buying and selling homes on an ongoing basis, rather than investing in them for the longer term, the Court considered their activities to be a Schedule C business earning ordinary business income. Therefore, they had to pay employment taxes on their selfemployment income. The ruling was in favor of the IRS.
Notes: This is a particularly timely case with the vast amount of foreclosures currently on the market. No doubt, if one of your clients dabbles in the business of buying and selling foreclosed properties, they need to understand that their activities can be considered a side business earning ordinary income.
Source: National Society of Tax Professionals: Federal Tax Alert, December 2010
Sunday, August 12, 2012
Impact Of Global Slowdown On Leather Exports And Remedies
Problem behind leather export industries :
Indian Leather industry is moving towards an unprecedented crisis with the slowdown of global economy. With the economies of US, Europe and Japan plummeting together, India has also witnessed fall in GDP growth from around 9% last financial year to 7% in the current financial year. It is projected to dip even further to around 5.5 % - 6% for Year 2009 10.
The leather exports sector which witnessed a growth 20% in the first half of 2009 got dented by the global slowdown in the subsequent months. The main reason is attributed to the decline in orders from Western markets, especially the US and UK. The European Union and the US are the two biggest markets for Indian leather export firms which stand at 65% and 25% respectively in terms of India's export share of Leather products.
Secondly Chinese Govt. is generously helping Chinese exporters to follow an aggressive exports policy which help them to bag the orders in the competition.
It is a matter of big concern for our Leather Industry which is mainly dependent upon its exports rather than domestic sales. Indian exports of leather is estimated at 3.5 billion INR and its domestic market is hovering around 2.5 billion INR. The main reason behind this could be that our leather industry cannot rely on its domestic market as the retail sector is still immature to sell the export products.
Leather exporters are being inextricably caught in a situation where buyers are delaying fresh orders besides delaying their payments on existing orders and on top of that they are also asking for huge discounts. It seems that if the problem is not addressed on time, it would adversely affect the small scale and tiny industries and also have an impact on big businesses, leading to job-loss and closure of units over the next few months.
It is estimated that around 2-3 lakh workers can lose their jobs in leather industry which has employed around 25 lakh total workers.
Remedies to boost leather export industries:
Need of the hour is to take proactive and logical steps to tackle the situation effectively which can only happen with the matched efforts on the part of both Government and Industry.
Mr. Habib Hussain (Chairman of leather exports council) while addressing the issue has suggested a three-pronged approach to tackle the situation.
He emphasized on creating the required infrastructure and have long-term plans,
Providing subsidized term loans to exporters who have suffered losses due to slow down
Treating US and Europe in focus markets scheme.
Innovative product designs at competitive rates.
In addition to the above, some immediate measures are needed to alleviate the plight of the leather exporters. Govt. should increase the drawback rates, reduce delays in export incentive reimbursement, Increase duty free import limit for manufacturing exporter on the % of export value, and increase weight age of leather goods under focus product scheme.
All these steps are necessary to retain the big global brands which source from India which can otherwise go to China who has cost advantage to play with.
Indian Leather industry is moving towards an unprecedented crisis with the slowdown of global economy. With the economies of US, Europe and Japan plummeting together, India has also witnessed fall in GDP growth from around 9% last financial year to 7% in the current financial year. It is projected to dip even further to around 5.5 % - 6% for Year 2009 10.
The leather exports sector which witnessed a growth 20% in the first half of 2009 got dented by the global slowdown in the subsequent months. The main reason is attributed to the decline in orders from Western markets, especially the US and UK. The European Union and the US are the two biggest markets for Indian leather export firms which stand at 65% and 25% respectively in terms of India's export share of Leather products.
Secondly Chinese Govt. is generously helping Chinese exporters to follow an aggressive exports policy which help them to bag the orders in the competition.
It is a matter of big concern for our Leather Industry which is mainly dependent upon its exports rather than domestic sales. Indian exports of leather is estimated at 3.5 billion INR and its domestic market is hovering around 2.5 billion INR. The main reason behind this could be that our leather industry cannot rely on its domestic market as the retail sector is still immature to sell the export products.
Leather exporters are being inextricably caught in a situation where buyers are delaying fresh orders besides delaying their payments on existing orders and on top of that they are also asking for huge discounts. It seems that if the problem is not addressed on time, it would adversely affect the small scale and tiny industries and also have an impact on big businesses, leading to job-loss and closure of units over the next few months.
It is estimated that around 2-3 lakh workers can lose their jobs in leather industry which has employed around 25 lakh total workers.
Remedies to boost leather export industries:
Need of the hour is to take proactive and logical steps to tackle the situation effectively which can only happen with the matched efforts on the part of both Government and Industry.
Mr. Habib Hussain (Chairman of leather exports council) while addressing the issue has suggested a three-pronged approach to tackle the situation.
He emphasized on creating the required infrastructure and have long-term plans,
Providing subsidized term loans to exporters who have suffered losses due to slow down
Treating US and Europe in focus markets scheme.
Innovative product designs at competitive rates.
In addition to the above, some immediate measures are needed to alleviate the plight of the leather exporters. Govt. should increase the drawback rates, reduce delays in export incentive reimbursement, Increase duty free import limit for manufacturing exporter on the % of export value, and increase weight age of leather goods under focus product scheme.
All these steps are necessary to retain the big global brands which source from India which can otherwise go to China who has cost advantage to play with.
Thursday, August 9, 2012
Pros and Cons of Pass/Fail College Course
The concept of rating college courses rather than grading them has a long and checkered history. The debate about whether a Pass/Fail College course is better than the traditional 4-point grading system has been recently renewed. A number of top-ranked Universities and Colleges are reintroducing the Pass/Fail system on elective and non-major classes.
The major complaint about the Pass/Fail system for college courses is that many educators feel it leads to the student not applying himself or herself to the work as diligently as they might otherwise do. Some studies do show a drop in student interest when the competitive grading system is removed. Students on the other hand feel the Pass/Fail system allows them to concentrate on favored topics while not becoming academically depressed in subjects they do not excel in. Also, a Pass/Fail ranking is not an option for college courses that are required or needed to fulfill the requirements for a Major.
One of the major concepts behind the 4-Point Grading System is the public exhibition of performance; a competition to achieve the highest possible grade. This grading system does provide a more stratified modifier on the passing grade levels. It can indicate the difference between a student that excels and one who merely manages to keep from failing the course. This lack of distinguishing between outstanding and ordinary students is why the Pass/Fail system is not universally used for indicating students' academic achievements.
Pass/Fail ratings are handled differently than grade points. Where the 4-Point system is used to determine one's Grade Point Average (GPA), Pass/Fail is usually only partially calculated in a student's overall scoring. A Pass grade, while being registered as a passing grade on the student transcript, is not used to calculate into the cumulative GPA. A Fail grade does, however, affect your GPA. They are generally entered as a 0.0 when calculating the average. This is regardless of whether you barely failed or if you made no appreciable effort in the course.
Even among proponents of the Pass/Fail system in college, they recognize that the 4-Point grading system is needful on the high school level. This helps monitor the effectiveness of the education the student is receiving and creates the GPA that helps determine scholarships and loans. In college the main focus of your education should be on career training. Having to maintain a high GPA is not as critical for placement. Regardless of the system used, the bottom line when job hunting is whether or not you have the degree, not what your GPA was.
Since there are good uses for both systems, there will always be a place for their use in the world of academics. The Pass/Fail system tends to be more popular with students as it removes some of the pressure to donate excessive time to less important subjects. Education professionals still have a higher tendency to want the 4-point system to encourage that same drive in any course taken whether it is applied to the Major requirements or not.
The major complaint about the Pass/Fail system for college courses is that many educators feel it leads to the student not applying himself or herself to the work as diligently as they might otherwise do. Some studies do show a drop in student interest when the competitive grading system is removed. Students on the other hand feel the Pass/Fail system allows them to concentrate on favored topics while not becoming academically depressed in subjects they do not excel in. Also, a Pass/Fail ranking is not an option for college courses that are required or needed to fulfill the requirements for a Major.
One of the major concepts behind the 4-Point Grading System is the public exhibition of performance; a competition to achieve the highest possible grade. This grading system does provide a more stratified modifier on the passing grade levels. It can indicate the difference between a student that excels and one who merely manages to keep from failing the course. This lack of distinguishing between outstanding and ordinary students is why the Pass/Fail system is not universally used for indicating students' academic achievements.
Pass/Fail ratings are handled differently than grade points. Where the 4-Point system is used to determine one's Grade Point Average (GPA), Pass/Fail is usually only partially calculated in a student's overall scoring. A Pass grade, while being registered as a passing grade on the student transcript, is not used to calculate into the cumulative GPA. A Fail grade does, however, affect your GPA. They are generally entered as a 0.0 when calculating the average. This is regardless of whether you barely failed or if you made no appreciable effort in the course.
Even among proponents of the Pass/Fail system in college, they recognize that the 4-Point grading system is needful on the high school level. This helps monitor the effectiveness of the education the student is receiving and creates the GPA that helps determine scholarships and loans. In college the main focus of your education should be on career training. Having to maintain a high GPA is not as critical for placement. Regardless of the system used, the bottom line when job hunting is whether or not you have the degree, not what your GPA was.
Since there are good uses for both systems, there will always be a place for their use in the world of academics. The Pass/Fail system tends to be more popular with students as it removes some of the pressure to donate excessive time to less important subjects. Education professionals still have a higher tendency to want the 4-point system to encourage that same drive in any course taken whether it is applied to the Major requirements or not.
Wednesday, August 8, 2012
Rich vs. Wealthy: The BIG Difference
Is There a Difference Between Being Rich and Being Wealthy?
I have often thought over the past couple of years about the difference between being rich and being wealthy. Is there a difference? If so, what is it? And how do we become wealthy?
It seems to me that there is a big difference between being rich and being wealthy.
When I think about someone who is rich, I think about someone with a lot of money. And I typically think about someone who is quite showy with their money. They drive fancy cars and live in a fancy house. They wear fancy clothes and eat at fancy restaurants.
Rich people come into their money in a number of ways. They may inherit it. They may win the lottery. They may earn it in a few short years as a professional ball player or entertainer. Or they may invent a new mousetrap that is worth millions of dollars. Or they may simply earn it over many years as a professional or a business owner.
But doesn't this also describe a wealthy person? Is there really a difference? I believe there is a major difference between rich and wealthy. The difference is in duration. How long does the money last? Will it be gone once the person's earning power is gone? Will it be passed on to future generations?
What's the Difference Between a Rich Person and a Wealthy Person?
The difference between a wealthy person and someone who is simply rich is that a wealthy person has sustainable wealth. In other words, a wealthy person will always be wealthy, whereas someone who is merely rich will only be so for a short period of time until the money is gone.
Think about people in history who everyone would consider wealthy, and you can begin to see what I mean. The Rockefellers, Carnegies, and Campbells are all wealthy families. Their wealth has lasted multiple generations. Why is this? What makes them so different from the lottery winner or professional athlete who has money for a short time and then it's gone?
Rich v. Wealthy: The Big Difference
The difference between rich and wealthy is very simple.
It's knowledge. Wealthy people know how to make money. Rich people only have money.
Once you know how to make money, you can build sustainable wealth. The money never stops coming. If you have a reversal of fortune, it's not a big deal. You just make it back.
Think about Donald Trump. Several years ago, Mr. Trump was deeply in debt. But, oddly, he didn't change his spending habits and didn't go away. Why not? Because Donald Trump understands how to make money. He is a wealthy individual.
Wisdom + Knowledge = Great Wealth
Wisdom and knowledge can create great wealth for anyone who desires it. Last week, a vendor of ours came to me and asked what he could do to create wealth. My immediate response was to learn everything he could about wealth.
Once he has the knowledge, then he can begin formulating a strategy and work with a coach to build the wealth. But the knowledge needs to come first. Otherwise, if we do happen to get rich, the money is not likely to last.
I have often thought over the past couple of years about the difference between being rich and being wealthy. Is there a difference? If so, what is it? And how do we become wealthy?
It seems to me that there is a big difference between being rich and being wealthy.
When I think about someone who is rich, I think about someone with a lot of money. And I typically think about someone who is quite showy with their money. They drive fancy cars and live in a fancy house. They wear fancy clothes and eat at fancy restaurants.
Rich people come into their money in a number of ways. They may inherit it. They may win the lottery. They may earn it in a few short years as a professional ball player or entertainer. Or they may invent a new mousetrap that is worth millions of dollars. Or they may simply earn it over many years as a professional or a business owner.
But doesn't this also describe a wealthy person? Is there really a difference? I believe there is a major difference between rich and wealthy. The difference is in duration. How long does the money last? Will it be gone once the person's earning power is gone? Will it be passed on to future generations?
What's the Difference Between a Rich Person and a Wealthy Person?
The difference between a wealthy person and someone who is simply rich is that a wealthy person has sustainable wealth. In other words, a wealthy person will always be wealthy, whereas someone who is merely rich will only be so for a short period of time until the money is gone.
Think about people in history who everyone would consider wealthy, and you can begin to see what I mean. The Rockefellers, Carnegies, and Campbells are all wealthy families. Their wealth has lasted multiple generations. Why is this? What makes them so different from the lottery winner or professional athlete who has money for a short time and then it's gone?
Rich v. Wealthy: The Big Difference
The difference between rich and wealthy is very simple.
It's knowledge. Wealthy people know how to make money. Rich people only have money.
Once you know how to make money, you can build sustainable wealth. The money never stops coming. If you have a reversal of fortune, it's not a big deal. You just make it back.
Think about Donald Trump. Several years ago, Mr. Trump was deeply in debt. But, oddly, he didn't change his spending habits and didn't go away. Why not? Because Donald Trump understands how to make money. He is a wealthy individual.
Wisdom + Knowledge = Great Wealth
Wisdom and knowledge can create great wealth for anyone who desires it. Last week, a vendor of ours came to me and asked what he could do to create wealth. My immediate response was to learn everything he could about wealth.
Once he has the knowledge, then he can begin formulating a strategy and work with a coach to build the wealth. But the knowledge needs to come first. Otherwise, if we do happen to get rich, the money is not likely to last.
Sunday, August 5, 2012
Is Sign 2 Cash A Scam? My Review
The answer to the question is NO signs 2 cash only provide you with a legitimate opportunity for you to make money from home. All of their opportunities have been tested and proven to make money for many other individuals around the world. Although this program will not make you rich, however it is meant to give someone a comfortable lifestyle while not having to work in an office for 8 hours a day.
You may be wondering what exactly will you be doing? You will be locating recently sold homes, apartments, condos, etc. in your local area. This is as simple as finding a for sale sign that has changed to sold.
The program is a paid membership for the following reasons:
-It takes time and money to maintain website as well as provide members with customer support. Also, because they are charging for ther services provided, you can be sure you will only receive the highest quality services, along with regular updates and reliable customer support.
-Your membership also locks you in as a member. This is to avoid too many locators in any one area physically so you are protected against such things as having 100 locators in your neighborhood all fighting to find the same sold signs. The membership fee cannot be deducted from your paycheck reason being this fee is required for database maintainance for members.
How do you make money?
Your Earnings Are Only Limited By The Number of Sold Signs You Locate Weekly!
Check the chart below for the potential earnings you could make!
5 sold signs located, 5 x .00 = 5 Per Day!
10 sold signs located, 10 x .00 = 0 Per Day!
25 sold signs located, 25 x .00 = 5 Per Day!
50 sold signs located, 50 x .00 = ,250 Per Day!
When you register to access the private back office and follow the simple instructions you are given, it will take a couple of weeks for you to make all the preparations needed to get started. Once the preparations are complete, you're ready to start earning. Make 5.00 in two hours easily.
The more time you invest, the more money you can make while working in a very rewarding, fun and easy business from your own home.
An average of .00 for every sold sign you locate goes directly to you!
No need to meet the people or even speak to them on the telephone. All you have to do is to find the addresses.
Skill & Experience Requirements
No experience is required and easy to follow instructions are provided. However, these minimum requirement should be noted:
- Older than 18 years old.
- Sense of duty and determination.
- Experience in writing and using a word processor such as Microsoft
You may be wondering what exactly will you be doing? You will be locating recently sold homes, apartments, condos, etc. in your local area. This is as simple as finding a for sale sign that has changed to sold.
The program is a paid membership for the following reasons:
-It takes time and money to maintain website as well as provide members with customer support. Also, because they are charging for ther services provided, you can be sure you will only receive the highest quality services, along with regular updates and reliable customer support.
-Your membership also locks you in as a member. This is to avoid too many locators in any one area physically so you are protected against such things as having 100 locators in your neighborhood all fighting to find the same sold signs. The membership fee cannot be deducted from your paycheck reason being this fee is required for database maintainance for members.
How do you make money?
Your Earnings Are Only Limited By The Number of Sold Signs You Locate Weekly!
Check the chart below for the potential earnings you could make!
5 sold signs located, 5 x .00 = 5 Per Day!
10 sold signs located, 10 x .00 = 0 Per Day!
25 sold signs located, 25 x .00 = 5 Per Day!
50 sold signs located, 50 x .00 = ,250 Per Day!
When you register to access the private back office and follow the simple instructions you are given, it will take a couple of weeks for you to make all the preparations needed to get started. Once the preparations are complete, you're ready to start earning. Make 5.00 in two hours easily.
The more time you invest, the more money you can make while working in a very rewarding, fun and easy business from your own home.
An average of .00 for every sold sign you locate goes directly to you!
No need to meet the people or even speak to them on the telephone. All you have to do is to find the addresses.
Skill & Experience Requirements
No experience is required and easy to follow instructions are provided. However, these minimum requirement should be noted:
- Older than 18 years old.
- Sense of duty and determination.
- Experience in writing and using a word processor such as Microsoft
Saturday, August 4, 2012
Things to Remember When Buying A Commercial Sacramento Real Estate Property
Every investor knows well the importance and value of owning a commercial real estate space. It could provide them a solid income specially when the commercial space is located in a very strategic location such as Sacramento region.
To provide you a better understanding, commercial investment is such a very lucrative business venture particularly when investors start leasing out properties to would be tenants that would like to rent commercial spaces for a long period of time.
Investing in commercial properties has the most imperative advantages and these are the reasons why most investors have shifted their way to buying commercial spaces. Investors can lease out commercial properties for approximately 10 to 15 years and during that span of time, they could receive a monthly profit from the space rentals.
But what are the crucial things to keep in mind when purchasing for commercial spaces in the region? To give you an idea about this, you may read some important commercial buying tips I have written below;
Don't forget to ask for the Deed of Absolute Sale (Contract of sale) When you buy any property, it is always good to ask for the contract of sale from the property seller. In layman's term, the deed of absolute sale is simply an agreement between the property buyer and the property seller. Basically, the function of this particular deed is to summarize the important details of the commercial real estate transaction.
Witten in the contract of sale is the location of the property that is being sold, the name of the property buyer, the name of the seller, total value of the property being sold, the size of the property, other terms and conditions that both parties had agreed on and lastly, the date where the property title will be given to the property buyer. This Deed of Absolute sale is a solid contract that could prove the legality of the property being purchased.
Don't forget to ask for the transfer of property title to your name When you have paid at least 80 percent of the total value of the property, you can already request the property seller to prepare the transfer of the title under your name. But make sure to present the Deed of Absolute Sale and the payment receipts to have a smooth sailing transfer of title.
To provide you a better understanding, commercial investment is such a very lucrative business venture particularly when investors start leasing out properties to would be tenants that would like to rent commercial spaces for a long period of time.
Investing in commercial properties has the most imperative advantages and these are the reasons why most investors have shifted their way to buying commercial spaces. Investors can lease out commercial properties for approximately 10 to 15 years and during that span of time, they could receive a monthly profit from the space rentals.
But what are the crucial things to keep in mind when purchasing for commercial spaces in the region? To give you an idea about this, you may read some important commercial buying tips I have written below;
Don't forget to ask for the Deed of Absolute Sale (Contract of sale) When you buy any property, it is always good to ask for the contract of sale from the property seller. In layman's term, the deed of absolute sale is simply an agreement between the property buyer and the property seller. Basically, the function of this particular deed is to summarize the important details of the commercial real estate transaction.
Witten in the contract of sale is the location of the property that is being sold, the name of the property buyer, the name of the seller, total value of the property being sold, the size of the property, other terms and conditions that both parties had agreed on and lastly, the date where the property title will be given to the property buyer. This Deed of Absolute sale is a solid contract that could prove the legality of the property being purchased.
Don't forget to ask for the transfer of property title to your name When you have paid at least 80 percent of the total value of the property, you can already request the property seller to prepare the transfer of the title under your name. But make sure to present the Deed of Absolute Sale and the payment receipts to have a smooth sailing transfer of title.
Wednesday, August 1, 2012
Tax Saving Strategy for Real Estate Agent Accountant Mississauga
Tax Savings Strategy for Real Estate Agents Accountant Mississauga
This article discusses a unique tax saving strategy for real estate agents. If you are a real estate agent, then it is very important that you read this article.
As a real estate agent in the top income tax bracket in the province of Ontario, you are paying tax at a rate of 46.4%. Now, wouldn't it be nice if you could incorporate and pay tax at a rate of only 16.5%?
"16.5% is the corporate income tax rate for small business corporations in Canada. Unfortunately, the Real Estate Council of Ontario (RECO) does not permit real estate agents to incorporate," says Allan Madan, Accountant Mississauga, Toronto, Canada.
So how do we solve this dilemma? It involves a series of steps, including the use of a management company. This article will walk you through those steps.
Create a New Corporation - Tax Savings Strategy for Real Estate Agents Accountant Mississauga
Step 1 Create a New Corporation Tax Savings Strategy for Real Estate Agents
The first step entails creating a new corporation that is owned by your spouse. The new corporation will perform managerial services including marketing, administration, accounting and other functions on behalf of you, the real estate agent.
The new corporation will charge a fee to you for performing managerial services.
Determine Expenses to Charge
Step 2 Determine Expenses to Charge Tax Savings Strategy for Real Estate Agents
The second step is to identify the types of expenses that the managerial company will pay for and charge back to you. The expenses that you would ordinarily pay for as a real estate agent and that would now be paid by the management company include:
Advertising, Marketing & Promotion
Supplies
Staff
Rent
Telephone
Computer charges and internet
General overheads
The above expenses should be charged back to you by your spouse's corporation at cost plus a mark-up of 15 to 25 %. An invoice must be prepared detailing the expenses and mark-up.
Charge for Labour Hours - Tax Savings Strategy for Real Estate Agents Accountant Mississauga
Step 3 Charge for Labour Hours Tax Savings Strategy for Real Estate Agents
The third step is for your spouse's corporation to bill you for time spent (on an hourly basis) by the corporation's staff on administering the marketing, administration and other functions on your behalf. The time spent by your spouse should also be billed back to you.
Write Monthly Cheques to Management Company
Step 4 Write Monthly Cheques to Management Corporation
The fourth step is for you (real estate agent) to write a monthly cheque to your spouse's management corporation for the services performed that month.
For example, assume that the invoice totals ,000 for the month. You (real estate agent) would receive a deduction for the ,000 paid at a tax rate of 46.4% (marginal tax rate). Your spouse's corporation will pay income tax on ,000 received at a tax rate of only 16.5%. So you can see how we saved 30% of income taxes by simply using a management company structure.
It is very important that you have a management agreement in place that is drafted by a business lawyer and reviewed by a Chartered Accountant in Mississauga / Toronto / Oakville. The management agreement must comply with the Canada Revenue Agency's guidelines and it must be able to withstand an audit by the Canada Revenue Agency, if an audit occurs.
Please do not attempt to create a management company and management agreement on your own.
This article discusses a unique tax saving strategy for real estate agents. If you are a real estate agent, then it is very important that you read this article.
As a real estate agent in the top income tax bracket in the province of Ontario, you are paying tax at a rate of 46.4%. Now, wouldn't it be nice if you could incorporate and pay tax at a rate of only 16.5%?
"16.5% is the corporate income tax rate for small business corporations in Canada. Unfortunately, the Real Estate Council of Ontario (RECO) does not permit real estate agents to incorporate," says Allan Madan, Accountant Mississauga, Toronto, Canada.
So how do we solve this dilemma? It involves a series of steps, including the use of a management company. This article will walk you through those steps.
Create a New Corporation - Tax Savings Strategy for Real Estate Agents Accountant Mississauga
Step 1 Create a New Corporation Tax Savings Strategy for Real Estate Agents
The first step entails creating a new corporation that is owned by your spouse. The new corporation will perform managerial services including marketing, administration, accounting and other functions on behalf of you, the real estate agent.
The new corporation will charge a fee to you for performing managerial services.
Determine Expenses to Charge
Step 2 Determine Expenses to Charge Tax Savings Strategy for Real Estate Agents
The second step is to identify the types of expenses that the managerial company will pay for and charge back to you. The expenses that you would ordinarily pay for as a real estate agent and that would now be paid by the management company include:
Advertising, Marketing & Promotion
Supplies
Staff
Rent
Telephone
Computer charges and internet
General overheads
The above expenses should be charged back to you by your spouse's corporation at cost plus a mark-up of 15 to 25 %. An invoice must be prepared detailing the expenses and mark-up.
Charge for Labour Hours - Tax Savings Strategy for Real Estate Agents Accountant Mississauga
Step 3 Charge for Labour Hours Tax Savings Strategy for Real Estate Agents
The third step is for your spouse's corporation to bill you for time spent (on an hourly basis) by the corporation's staff on administering the marketing, administration and other functions on your behalf. The time spent by your spouse should also be billed back to you.
Write Monthly Cheques to Management Company
Step 4 Write Monthly Cheques to Management Corporation
The fourth step is for you (real estate agent) to write a monthly cheque to your spouse's management corporation for the services performed that month.
For example, assume that the invoice totals ,000 for the month. You (real estate agent) would receive a deduction for the ,000 paid at a tax rate of 46.4% (marginal tax rate). Your spouse's corporation will pay income tax on ,000 received at a tax rate of only 16.5%. So you can see how we saved 30% of income taxes by simply using a management company structure.
It is very important that you have a management agreement in place that is drafted by a business lawyer and reviewed by a Chartered Accountant in Mississauga / Toronto / Oakville. The management agreement must comply with the Canada Revenue Agency's guidelines and it must be able to withstand an audit by the Canada Revenue Agency, if an audit occurs.
Please do not attempt to create a management company and management agreement on your own.
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