Book Keeping Services London

Every business needs some provision for bookkeeping and accounts. Every business man, trader or a sole proprietor needs to maintain his books of accounts. Relive yourself from bookkeeping and accounting functions to concentrate on your business. What your business demands is full concentration and functioning towards your work, no matter how small or large your business is. Bookkeeping Services London, understands your demands for accounting and bookkeeping and therefore provides you with bookkeeping facilities at reasonable and affordable costs. You just concentrate on your core business and bookkeeping services would be looked after by the effective management of Bookkeeping services London. Save money by reducing accounts fees as the bookkeeping services provides by London bookkeeping services ltd are based on the nature, size and affordability of your business. Maintaining financial accounts and records, supervising accounts staff, dealing with accounts, auditors, bankers and creditors are not easy tasks to handle along with the daily tensions and problems faced in by the business. It reduces your efficiency, you cannot concentrate on your business and there may be a monetary loss if you don't maintain a balance between all aspects of business.

Read More

What Credit Score is Needed for an Auto Loan

If you are looking to buy a car you might be wondering if your credit score is good enough to buy a car and get a loan.  The economy is bad right now and you might be behing in your bill payments or have lots of debt, but you are in need of a new car.  In the past, auto lenders would only approve auto loan to people with high credit scores, but since the economy is in the current bad state, lenders are also in a crunch so they may approve loans to peopl with lower credit scores.

These days, if your credit score is around 480, lenders may be willing to work with you to give you an auto loan.  There are actually a number of online lenders willing to approve you for a car loan quickly. In fact, I've learned that you can get multiple offers from multiple lenders who are happy to do business with you if your auto loan credit score is not quite perfect. In fact, you could have your approval for a low interest bad credit loan in 60 seconds or less!

Read More

Capital Gains Tax on Shares

For those wanting to learn more about Capital Gains Tax (CGT) on shares, the professional accountants at PATC offer a range of services to help determine your liability for this type of tax. The purpose that your shares serve will determine whether your shares will be charged for Income Tax or Capital Gains Tax, and your professional account is the best person to advice on whether you are liable for CGT on your shares.
If your shares are intended as trading stock used to resell, any gain or loss on disposal will be of a revenue nature. Revenue gains are subject to income tax at your marginal tax rate, which may vary between 18% and 40% depending on your income tax level. If your shares act as a capital asset (ie. A long-term investment) any gain or loss will be of a capital nature.
Information pertaining to CGT on shares includes the following:

• Capital gains are subject to tax at a lower rate than ordinary income. For individuals, the first R15 000 of net capital gains or losses in a tax year is exempt for CGT – this is known as the annual exclusion. 

Read More

Facts About Your Tax Rebate or Economic Stimulus Package Payment

More than 130 million households will begin receiving economic stimulus payments beginning in May, and there is still a lot of confusion about them. People are not sure when they should receive their payments, the amount they can expect, or if they are even eligible. The information in this article should clarify things for the majority of you and, for those that still have questions, full details are available at the IRS website. The following link will take you directly to the page: Economic Stimulus Payments Information Center.

To Be Eligible:
• You must have a valid Social Security Number (SSN). If you are filing jointly, BOTH parties must have valid Social Security Numbers or neither will receive a payment. Neither party can use an Individual Taxpayer ID Number (ITIN) in place of an SSN. Individuals that become eligible after they file their taxes can file an amended tax return after April 14, 2008 and after 8-12 weeks can inquire about their payment.
• You must have a qualifying income of at least $3000. A qualifying income can be any combination of earned income and certain benefits from Social Security, Veterans Affairs, or Railroad Retirement. For anything other than earned income, you should check the IRS website at the link above for specific eligibility details. Supplemental Security Income (SSI) does not count.
• Your income cannot be too high. The specifics are too detailed to list here, but there is a link to a calculator below to estimate your refund.
• You must file a tax return for 2007. If you are eligible for a rebate but do not normally file taxes because your income is below the filing threshold, you will still need to file to receive a payment. If you are filing just for the purpose of receiving a payment, you can file free online with a simple form at the following link: Free File - Economic Stimulus Payment.
• You cannot be claimed as a dependant or be eligible to be claimed as a dependant for 2007.
• To receive money for your children, the child must be eligible under the Child Tax Credit and have a valid SSN.

How Much You Receive:
• Eligible individuals will receive between $300 and $600, and joint filers that are eligible will receive between $600 and $1200. You may receive $300 extra for each eligible child.
• If you have already filed your taxes for 2007, you will need a copy of your tax return and you can estimate the amount you can expect at the following link: Economic Stimulus Payment Calculator.

When Payment Will Be Sent:
• Beginning May 2, payments will begin to be issued. You will receive an electronic payment if you elected to receive your refund electronically when you filed your taxes. If you did not supply the information for direct deposit you will receive a paper check. The date your payment will be issued is determined by the last two digits of your SSN according to the charts below:

DIRECT DEPOSIT

Last 2 SSN digits 00 through 20, Issue Date May 2
Last 2 SSN digits 21 through 75, Issue Date May 9
Last 2 SSN digits 76 through 99, Issue Date May 16


PAPER CHECK

Last 2 SSN digits 00 through 09, Mail Date May 16
Last 2 SSN digits 10 through 18, Mail Date May 23
Last 2 SSN digits 19 through 25, Mail Date May 30
Last 2 SSN digits 26 through 38, Mail Date June 6
Last 2 SSN digits 39 through 51, Mail Date June 13
Last 2 SSN digits 52 through 63, Mail Date June 20
Last 2 SSN digits 64 through 75, Mail Date June 27
Last 2 SSN digits 76 through 87, Mail Date July 4
Last 2 SSN digits 88 through 99, Mail Date July 11

• If you file your tax return late, then you can expect a delay in receiving your rebate.

As mentioned before, there is a lot more information available at the IRS website. The information contained here is a summary of the more basic information provided by the IRS, and the data in the payment timetable is taken directly from their site.

Read More

Financially Planning For Retirement

Knowing or unknowingly, planning for retirement is one of the vital aspects in a person's life. There are several things which you can do to maintain your own peace and the steps you take will certainly help you to financially plan your retirement years in the best way possible.  You want to do all you can to prepare for any difficulties that may arise in the retirement years when you are fully out of work. Current statistics are of the view that by 2040, the average life expectancy for men will rise from 81 to 85 for males and for women it will certainly increase from 84 to 88 which has been estimated by the National Center for Health Statistics. This information actually points to the fact that careful retirement planning is a must and you cannot ignore this fact in your young years and you need to save your hard-earned money so that it comes handy for you in your old age.
Tips for Planning for Retirement Financially
1) Every individual should start planning for their retirement as early as possible and they should start thinking about investment, savings and IRAs in their 20s and 30s which is the best time to start your retirement planning. This is referred to as the best time period to not only invest well but also to take adequate risks. You need to make use of those opportunities which will help you to gain considerable return in the long run as you have all the time to wait for the extra benefits.
2) You need to make a rough plan step by step. Most of the financial experts are of the view that you should set your goals which should be focused on where you see yourself 7 or 5 years prior to your retirement age. When you plan accordingly, it will aid in executing ideas and would also help you to identify loop-holes in the plan so that you can alter your plan accordingly.
3) Never think about repaying your debts in your retirement age and always make sure that you pay them off before you retire. You should enjoy your retirement years without any credit card debt or any pending mortgage payments.
4) You should have a rough idea of how much money you should save so that you can spend your retirement years in a comfortable manner. You should have a good idea of the day to day expenses as well as the growing standard of living and should have a rough estimation of how expensive common items would become in your retirement time. You should also add the expenses of things which you are not doing now as retirement is the best time when most of the people pursue their hobbies. Inflation and price changes should be considered properly in this matter.
5) If you are finding it difficult to come up with a proper financial plan, you can take up the support of a financial planner who will be able to help you in this matter and will set up a fine investment and savings plan for you.

Read More

Understanding Insurance

Auto Insurance
An auto insurance policy protects you against financial loss if you are involved in a car accident. General types of auto insurance coverage include liability coverage, property damage and first medical benefits, all of which are required by law. Uninsured and underinsured coverages pay you and the other passengers in your vehicle if a driver with no insurance or insufficient auto insurance crashes into your vehicle. Auto insurance also gives the option to add coverages that will cover damage to your own vehicle. Comprehensive coverage will cover damages to your vehicle caused by fire, theft, vandalism, deer, and cracks to your windshield. Collision coverage covers damage to your vehicle caused by an at-fault accident. Also, road service and rental reimbursement coverages are available to add to your policy at an additional cost. There are many discounts available for auto insurance, including: Safe Car Driver, Multi-Car Discount, Age 55 or Over, Passive Restraints, Anti-Theft Car Devices Discount, Auto Anti-Lock Brakes, Multi-Policy Discount, Auto Insurance Payment Plan Discount, Auto Accident Prevention Course, Driver Training, and Reduced Car Usage Discount.
Homeowners Insurance
A standard homeowners insurance policy includes four types of coverage. The first is Coverage for the Structure of your Home and Other Structures. This part of your policy pays to repair or rebuild your home for damage caused by most common risks. Typically, damage caused by fire, wind, hail, or lightning is covered under this part of the policy. The second coverage involved is Coverage for your Personal Belongings. This part of the policy coverage personal belongings that are stolen or destroyed in an insured disaster such as a fire. The third part of the policy is Coverage for Additional Living Expenses. In other words, if damage from a fire, storm or other insured peril forces you out of your home, this part of the policy covers the expenses incurred while your home is being rebuilt. Finally, the last section is a homeowners policy is Liability Protection. This covers you against claims or lawsuits for bodily injury or property damage that you or your family members negligently cause to other people or property. Your policy also provides medical coverage. In the event a friend or neighbor is injured in your home, he or she can submit the medical bills to your insurance company. At an additional price, other coverages offered include; Replacement cost, Sewer or drain water back-up, Earthquake insurance, Flood insurance, and Identity protection. If you rent instead of own, you can purchase Renters Insurance for a cheaper cost. This would cover the contents in your apartment if something were to happen to them.
Personal Catastrophe Liability – Umbrella
An umbrella, or PCL policy, is extra liability protection for the actions of covered family members, above and beyond your already established auto and homeowner's policies. It provides an additional $1 million coverage against lawsuits arising from personal injury or property damage claims. If someone is severely hurt on your property or as a result of an accident that you caused, this liability protection would kick in if you have already exhausted your normal limits.

Read More

Insurance Marketing Tips for Your Agency

Which Mediums are Best for You? The marketing of your insurance agency is a time consuming and expensive process and it takes an extraordinary amount of effort to coordinate this function. In order to accomplish and gain recognition in this fast and competitive world we live in, you will find more companies trying to find ways to increase their brand to gain that competitive edge. You know the old saying, "you have to spend money to make money." So don't fall by the wayside.  To try and help you determine the best advertising medium for your insurance business we will help show you the most common types of marketing and give you an explanation of each. Most importantly, before we go into showing you the ways to market your insurance agency you need to think about what your budget is and start from there. As you know, different mediums of advertising all come with a price.

Your Target Market: What types of vehicles of insurance do you offer? Do you offer health insurance,  auto insurance, life insurance, homeowners insurance, etc? What is the age group of your target market and who exactly are you looking to offer insurance to? These questions and more you need to determine before opening up your wallet. Below are some effective marketing tips for your insurance agency.

1.  Online advertising: Companies offer zip code exclusivity rights such as InsureMyHouse.com and InsureMyLife.org, which gives you unique exposure on the web. As more and more people are using the internet and searching for insurance, it has become increasingly important in today's society to be advertising on the internet.  75 percent of households have access to the internet.  This is a cost effective way to gain exposure on a national and local level.

2.  Block line advertising in industry publications or trade journals: Many companies like to advertise in the same areas, so you need to be there. Since insurance companies are always looking to find new agents to join their company, they know that many "insurance agents to be" are reading these particular journals and periodicals. As with television and print ads, you'll most likely want to consult with or hire an outside advertising agency to help you build a campaign that best suits your agency and the insurance products you sell.  The cost can vary depending on the kind of style of ad you want to create. A great way to be found is by having "reverse type" in your ads. Meaning you would have a black background with white writing, which gives you ad some pop. If you prefer and have the money to do your ad in color, that is even better. Typically the cost of block line advertising is very cost effective and you have the freedom to dress up the ad as you wish.

3.  Business opportunity advertising: Think of local newspapers such as the Wall Street Journal, New York Times, Chicago Tribune, etc. This is a very effective way to advertise and market your agency, since your company needs to build brand name recognition. The online version of the Wall Street Journal has over 4.5 million visitors. Now that's a big audience.


4.  Television Ads: The most obvious and expensive forms of advertising is the television. Americans are glued to the television and you can find plenty of statistics that will show evidence of that. The average cost of a 30 second commercial is roughly $350,000. You can find local TV ad spots for much less, so shop around.

5.  Local Movie Theatres: A local audience and a family type atmosphere is a great way for marketing your insurance business. Many types of insurance come into play here when you and the family are out watching the movie. Think insure your life, insure your auto, insure your health, etc. All these things come into play when parents are out with their kids. Make your ad suited for this audience. Typically these ads come up when you are sitting in your seat waiting for the movie to start. The ads you see are effective as people are constantly seeing your name out there. In 2007 Hollywood drew in over 1.44 billion admissions.

6.  Direct Mail Advertising: There are companies out there that will do direct mail pieces to parts of your geographical area. A 10,000 piece mailing to your target audience could cost anywhere from $3,000-$10,000, depending on what company you use. 


7.  Advertising outdoors: Transit systems, bus benches, neon and electronic signs are becoming a great way for the agent to advertise. This is affordable, unlike television ads. And this targets the exact audience as most insurers provide insurance services to their local area.

8.  Stationary advertising: A very great way of advertising is right through your business stationary and supplies. A nice way of showing good faith is to give your customers a pen with your office name and contact information. Another way of creating some repeat business is through magnet advertising. They can stick to your refrigerator. This goes a long way especially when people have gatherings for family and friends. You need to constantly be in the spotlight no matter the situation. The cost of stationary and supplies is a fraction of the price you will receive down the road from your potential customers. Other items that may apply to you could be, coffee cups, calendars, and golf balls, just to name a few.

9.  Website Advertising: Let's face it, if you do not have a web-site for your business you really need to think about getting one and fast. With today's fast paced society coupled with advanced technologies, a website tells customer about you and it a quick and easy reference for customers looking for quotes of any type of insurance such as, homeowners insurance, auto insurance, life insurance and many others. You can easily create a one page webs-site simply with your contact information and maybe a short story about yourself within your community. If are willing to take that extra step and create additional pages, you may want to hire a professional, but for now if you don't have a website, create one. Even if you have to write it down on paper, at least you have it for a reference. 

Start Building a Game Plan -- Once you see the benefits of each advertising medium, stick with what works. Stay within your budget and find the best approach. Finding the best option for you is going to be trial and error, but it will be the difference in building your agency.

Read More