Different Ways To Finance Your Business

Financing your business

Tips of financing your business

Financing your business is a challenging job as people out there in the world are not there to give their valuable money to you. Financing your business, that too, in the startup stage is really difficult job. Going out there in the market and asking people to give you money or let’s say convincing people takes too much effort. You have to be totally prepared with your business plan as to how you are going to initiate it, how you are going to take it long way and how are you going to make profit out of it and benefitting them who lend you their money. For financing your business, you need to have a great idea of business which is new in the market and which can really impress the lenders. This will be some concerns if you are searching for the ways to finance your business in the startup stage. But this does not mean that if you are having a running business and you want to finance your business more its expansion then it would be easy. When you already have a business, lenders will scrutinize your business as it how much is the capital, how long has this business survived, what is the amount of capital invested, how much is the profit earned and what is the interest earned by its shareholders. Hence before you start up with the ways to finance your business, you must be prepared for all this circumstances. Here are some of the ways from where you can finance your business.

  • Ask bank for a loan

Bank is one of the ways for financing your business. If you have good past records then bank can give you loan and you can get your business financed. You need to have a good credit score in your credit report as this is one of the things which banks see while giving loan. If you have get your property as a security with the banks then also bank will grant you loan for starting up a business or expanding your current business.

  • Make use of credit card

Credit cards should be the last resort of financing your business. This is because credit cards have a high amount of interest and hence if you are ready to find an alternative solution to finance your business avoid credit cards. But any other option is not available; you can also use your credit card and finance your business.

  • Ask money from friends and family

When you know, you have some really great idea and you know it is going to work if started but you are not able to raise money for it ask your friends and family to get rid of it. Asking friends and family for money can be little bit uncomfortable but it works for you then you not to try it. You can return them with interest after some point of time. You can consider it as an official loan and not as help. It will help you to ask for it.

Tax Planning Tips For Salaried People

Tax planning for saving income

Tax planning for saving tax

It’s very essential to make proper tax planning and make such investments which can minimize your tax liability. Many times it is observed that salaried people end up paying more tax then they are actually liable to pay. There are many reasons behind this, insufficient time to do proper tax planning, lack of awareness about various incentives, lack of knowledge about rebates and allowances under section 80 C deductions which are very much popular. There are also certain other sections which can help making tax planning and save taxes of salaried people. It is very much important for a salaried person to devote appropriate time and also effort for doing tax planning exercise and also be aware of different benefits which they can get. Here are some of the tax planning tips for salaried people which can help them reduce their tax liability.

  • Use entire section 80 C deduction

Under this section 80 C, the maximum deduction available to an individual is 100000 Pa. generally salaried people whose gross total income is equal to or more than 250000 must utilize this entire limit of 100000. Say for example an individual is having an income of 600000 and he utilizes only half of the amount of limit of 100000. Now this individual will end up paying an extra tax of 15450 as against an individual having same income but utilizing the entire limit. This is a case of poor tax planning. Here are some of the investments which can be qualified for deductions under section 80 C.

  • Public provident fund
  • Life insurance premium
  • National savings certificate
  • Accrued interest on national savings certificate
  • Equity linked savings scheme
  • 5 year fixed deposit with post office and banks
  • Tuition fees paid for kids’ education
  • Principal component for home loan repayment
  • Restructure the salary

Restructuring the salary is the right way of tax planning. It includes certain factor which goes long way in deducting your tax liability. It is an efficient way of tax planning and claiming tax benefits. Below mentioned things can form part of one’s salary structure.

  • Food coupons like ticket restaurants and sodexo are exempt from tax up to 60,000 per annum.
  • Medical expenses which are being reimbursed by employer are exempt up to 15000 per annum.
  • Transport allowance is exempt till 800 per month.
  • Individuals staying in rented place are allowed house rent allowance as a part of their salary.
  • Opt for a joint loan

The principal repayment on a home loan is eligible for deduction up to 100000 Pa and the interest paid is also eligible for deduction till 150000 per annum.  In certain cases where home loan is for substantial sum, it is very much common that the principal repayment and interest will exceed the specified limit. For making sure that the tax benefit is fully utilized, an individual must opt for a joint loan with his or her spouse or siblings or parents. By doing so both the loan holders can claim their part of tax deduction and this is an effective way of tax planning.

5 Good Habits To Save Money In 2014

how to save moneySaving money is an art. It means to set aside some amount of money from present income for future use. The main reason as to why many people do not get to do what they want or need is because they do not have a good amount of saving. This article will show you, how to cultivate a good habit of saving in 2014.

You must determine your needs: You must make this decision as to what you will do out of the money saved. This will help you to determine how much amount of money, you want to save and for what period of time. It can be divided into certain intervals as per your convenience. You must also ensure the frame of time within which you can achieve your goal.

Chalk out a plan: The next thing that you should do is to make a rough draft of how to go about with the saving of money. This plan must include the place where you want to save, whether interest is required or not, intervals within which you should save. This will help your work easier.

Discipline: Most people lack discipline, Discipline helps you to stay within your area of focus. You must take care of the plan and see to it that it is carried out in a proper manner.

Sacrifice: Once you have a mind set for saving money then you will have to undergo certain sacrifices. You will have to make a demarcation between your wants and needs. The best way to save is not to spend money on useless stuffs. It is hence very important that you plan your savings.

You will have to carry everyone along: In the process of saving you might have to choose between the needs of the various family members. So you should be convincing enough.

Applications of financial astrology

financial astrologyThe influence of astrology goes beyond the personal realm to the professional one and it has had quantifiable and verifiable effects on human life. The movements of celestial bodies do not dominate individuals alone, but often influence whole societies as well as fields such as finance.

Financial astrology refers to the connection between planets and finance. You might be a firm believer of astral energies and their influences on the financial and business environment. This includes investors, brokers and insurance companies. Financial astrology can determine their success. The increasing curiosity of this field has led to the generation of a substantial amount of specific literature that is valued by the general people who read it.

You should know that astro-economics has numerous applications. Primarily traders use this practice in multiple actions. The first and foremost application is determining the major economic trends and how it originates from the cycle of planets. Economy is bound to follow similar cycles. In a way you could say that history repeats itself. Astrologers offer a global perspective with their ability to foresee the progression or crisis of the economy. Sometimes they can predict it years before the analysts see it coming.

One thing financial astronomy will help you with is telling you the right time and place to invest. Innumerable traders have found astro- economics to be very helpful in this regard. It has helped traders with identifying the utmost profitable stocks and the ideal time for investing in them. Finance astrology can be linked to complex philosophical concepts such as the nature of time. This practice is related with numerous other topics besides economy. It shows you a worldwide and all-encompassing outlook of market trends.

It does not try to ruin long standing values or ideals. It simply encourages a multi-disciplinary tactic. It suggests that traders take into account all possible factors as when making decisions.

Basics Of Worker’s Compensation Insurance

Worker's Compensation InsuranceWorker’s compensation insurance is a policy that most of the small business owners buy in order to cover the expanses of their workers’ work related injuries. These insurance policies cover all the expanses of workers’ work related injuries like, hospital and medical bills, rehabilitation, lost wages, temporary or permanent disability and even death. The Regulatory Commission for State’s Workers’ Compensation sets the rules for the policy.

Worker’s Compensation Insurance – Determining Premium

On the basis of the estimated pay roll of the insurance policy the premium is determined. Since the type of work assigned to every worker in a company is different the injury risk to every worker is also different. That is why companies generally classify their workers depending on the type of work they do in the company. There are around five hundred such classifications that widely cover every kind of industry works. Depending on the classifications the premium rate is determined. For instance, the premium rate for a convenience store’s WCI is higher than that of a telemarketing firm.

Worker’s Compensation Insurance – The Necessity

If you are running a business and you are wise enough you should buy a Worker’s compensation insurance. Running your business without the policy binds you with the risk of huge fines and sometimes even the risk of shutting down the business. Moreover, worker’s compensation insurance also saves you from huge financial disasters. In case of work related injuries of a worker the medical expanses may be a burden for a small business. So, you should act wise enough to buy a worker’s compensation insurance.

Worker’s Compensation Insurance – The Owner Issue

Being the owner of the company it is up to you whether you want to include or exclude yourself from the insurance coverage. If you are covered you will also get the benefits if you got some work related injuries and if you are excluded you won’t get the benefits. As simple as that.

Are you looking for the best forex broker?

forex brokerForex trading seems hugely prospective these days which in turn has increasingly drawn in a great lot of aspiring investors in the currency trading zone. Are you planning to step into Forex trading? Currency trading is a complex affair and hence when you are novice it’s always advised that you proceed with the help of a FX broker. There is no dearth of Forex brokers around but the catch is that not every one of them can guarantee you prospective results. Thus the write-up below is all about how to locate a good FX broker.

Check for compliance & reputation

You have to take up a market survey before you finally settle down with your Forex guide. Pick up 4-5 potential broker companies round and start studying about them. You must go through their BBB rating, client testimonials as well as expert reviews. Make sure that your chosen one holds membership with US CFTC and NFA. The broker company must also be backed by high BBB rating and very satisfied expert & user reviews

User-friendly premium software

The Forex trading software is an important aspect to check out while you are about to pick the right Forex broker for you. Always remember, the credible brokers will support the clients with award winning, premium quality, user-friendly and easily customizable FX trading software systems.

24/7 support

Forex trading goes on throughout the day and night. Make sure that your chosen broker company is flexible to assist you on anytime you choose to trade in 24 hours, any day.

Real market information

This is one of the most vital aspects to consider while deciding on your Forex broker. Your selected Forex broker should be able to support you with real time information about the present market conditions so that you can take informed trading decisions.

Pros & Cons of Unsecured Funding

Unsecured Funding, financial tipsMany a times you might be confronted with a situation where you might need urgent funding but do not have sufficient credit rating to get approval from traditional funding institutions. This is where you can take the help of unsecured funding options. Here is a brief on the pros of unsecured loans as well as the cons.

The first benefit of unsecured funding is that the unsecured lenders are ready to extend you with the loan value without even looking at your credit history. Thus, people with bad credit can also get approval for the unsecured loans. There is no question of collateral as well and the unsecured loans are delivered much faster than the traditional loans.

The main con of this form of loans is that these generally involve higher interest rates than the usual loan schemes. As the unsecured loans are extended on any credit status and no collateral demand, it becomes risky for the lender and hence he tries to make it up with higher rate of interest.

Financial Saving Tips for this Year

Financial saving tips. financial tipsThis article will be of great help to those who are looking for financial saving tips for this year. The following are some important tips.

o You should get paid when you are worth and also spend less than what you earn.
o You should always follow a budget.
o Credit cards should be used for making purchases. The arrears should be paid off every month and then you can earn cash back points or travel points.
o You need to plan properly so that savings can be done.
o Financial savings can be done by contributing to a retirement plan.
o Investments should be done for financial savings.
o You have to get the most out of your employment benefits.
o Insurance coverage is to be reviewed on a regular basis.
o You can escape from ATM charges.
o Your account should not be over drafted.

Dealing with online banking problems

Online Banking, bankingOnline banking is one of the fastest and utmost competent ways to manage your funds. You do not have to wait for long hours and waste your time while standing at the bank. You can easily pay bills and manage other financial matters through online. But you can face lot of problems in case of internet banking. The following tips can prove to be helpful to you and you will be having a good banking experience.

• You should never give your online bank username and password to anyone.
• Sometimes you might be receiving links along with the emails. The link can take you to your bank’s website. But actually, the website is false. It has been designed in such a way so that it looks exactly like your bank. You should never visit such websites. You must always type in the URL yourself.
• For online banking, you should use your own personal computer and not any other’s machine.
• You should remember to log out after completing all the activities.

Finding cheap accounting services

accounting services, business tipsAll companies, organizations, sole proprietorship business concern, corporate houses, small scale business concerns require to maintain an accurate record of all its transactions which is absolutely mandatory according to the accounting principles worldwide. With technological advancement the process of book keeping and account is neither difficult nor is it difficult to find people to provide accounting services to your company. And the reasonable rates at which these services are made available at date is the cherry on the cake.

Companies that indulge in assisting business concern to maintain their books properly are found plenty in number on the internet. Searching for such companies on various search engines is also free of cost. Also you can choose among various such companies that are experts in this field and can ensure that you never have a problem with IRS. These services are cheap and are always almost error free. Your books of accounts can also be a subject to change depending on your company’s requirement without much hassle and error.

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