Things you must have done before you Die

To think about your own death is often viewed negatively. This is because people always evade the truth that sooner or later, their life will come to an end. The sooner you come...

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What are the Key Components of Performance Bond Wording?

If you’re an employer that hires contractors, it’s highly advisable to secure a performance bond, which will serve as a third-party guarantor to cover the costs of damages if the...

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The Difference between Accounting and Bookkeeping

When we hear about accounting and bookkeeping, it sometimes confuses us because we are not fully aware about their differences. There are some who knows that they are the same...

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What are the differences Between Factoring and Invoice Discounting?

Nowadays, there are more businesses that are starting to rise and make their own name according to the nature of their businesses. Many people are investing their savings into...

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How To Be Qualified for an Advance Payment Bond

Posted by on Feb 29, 2016 in Performance Bonds

How To Be Qualified for an Advance Payment Bond

Like all other bonds, there is always a prequalification process that the client needs to undergo in order to assess and evaluate their capacity to pay and sustain the financial cash flow of their company. Also, this will serve as their basis for them to learn about how the business is managed as well as the future plans of the company. The process may not be easy though that is why most of the applicants would prefer to subscribe to a surety in order for them to know the step by step process and requirements that needs to be complied before they will submit their papers for further evaluation. Moreover, for you to also learn about the prequalification process along with the requirements, the following is a checklist for you to prefer:

Submission of the Company’s Organizational Chart – Though it may sound unnecessary but the submission of organizational chart is of utmost importance because from there, the surety company can assess how organized the company is starting from the managing team up to the low level employees.

building-801716_1920Detailed and Updated resumes of the employees – When it comes to quality service assurance, hiring the right people to fill in the spot is very important. There is always a big factor to consider when the company has the right employees because they can always do the job correctly. Say for instance, you are planning to start a hospital business so; you should not hire Computer Engineers to fill in the Nursing post. A detailed and updated resumes are very important to assess if the employees are still updated with regards to their training and to also include their recent achievements.

What is the company’s business plan? – As part of the assessment, there is always an advantage when the surety company knows the business plan and objectives of the client to their business. The business plan serves as the perception of the company of how would they perceive their company years from now.

Letter of recommendation- The letter of recommendation will serve as a reference guide to the surety company of how good does the management get along with their clients and previous transacted companies or individuals. This means that the better the feedback, the greater the chance of approval. If you wish to talk to experts to learn more about the importance of an advance payment bond, you can visit drsbonds.co.uk

Continuity plan of the company – Present and future plans for the company always counts. When it comes to this kind of investment, you can always assure continuity of care together with your continued subscription. Every businessman would love to have their business extended and grow. That is why it is important for the company to provide a future plan for their business to assure continuity of subscription.

Credit line evidence – The capacity to pay the dues is always a must. If you have a good and clean credit line, there is a greater chance that your application will be approved. Log on to drsbonds.co.uk and start your assessment now.

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What are the Key Components of Performance Bond Wording?

Posted by on Feb 22, 2016 in Financial Information, Performance Bonds

What are the Key Components of Performance Bond Wording?

If you’re an employer that hires contractors, it’s highly advisable to secure a performance bond, which will serve as a third-party guarantor to cover the costs of damages if the contractor fails to fulfill his/her requirements stated in the contract. The wording of the performance bond such as those provided by drsbonds.co.uk, and here are some of the most important items to include in them:

1. Contract type/amount

These are some of the most important bits of information that should be included in performance bonds such as those provided by drsbonds.co.uk. contract_salesman_signature_pen_400_clr_6424While it’s basic information, it’s also important because it defines the type of business agreement that the employer and contractor had, and the amount of money it involves. These are critical issues that a performance bond company will consider when determining whether or not to issue a bond to an employer.

2. Location/duration of work

These are other issues that are critical in the wording of the performance bond. Work can be contracted out to a myriad of places, so it’s important that the exact location be included the performance bond. It’s also important to include how long the work will take, whether it would be a week, month, or several months. As with other issues to include in a performance bond, it’s critical to include the location and duration of the work since they’re key components.

3. Beneficiary

This is another important issue as it will state which company will receive the bond. This might seem like a basic issue, but it’s actually quite critical to Icon3.3include it in the bond’s wording, to avoid any future issues regarding the beneficiary of the bond. It’s probably hopeful that your company would never have to use the bond, but it’s always helpful in ensuring that you would be compensated in the case a contractor doesn’t fulfill their responsibilities.

4. Bond release event

It’s important to note in a bond’s wording the event in which the bond would be released. This can involve various factors, so it’s important to make the issue as specific as precise as possible in the wording of the performance bond. This is a matter that will likely be determined by the executives of a company, and is based on details related to the contract between the employer and contractor.

5. Bond wording proposal

Keep in mind that the exact wording of the bond can be changed before the final version is completed. This can involve basic or major changes, but when applying for a performance bond it’s important to include a proposal for the bond wording. It doesn’t have to be “perfect” because it’s a work in progress. However, a performance bond-issuing company can then make adjustments before the final version is created. They have experts who will know what parts to add/delete, to make it as precise as possible.

An introduction to the basics of the private performance bond relationship in the construction law context

These are some of the key issues related to the wording of performance bonds. By using the checklist you’ll maximize your chance of having it approved by a performance bond company.

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Making a Last Will & Testament

Posted by on Nov 9, 2016 in Uncategorized

Choosing to make a will and testament shouldn’t really be a chore but it should be something high on your priority list, especially if you have a family. You could go through life and accumulate property like you’re playing monopoly or perhaps you were never about the material things and don’t have very much to your name.

Regardless of which camp you fall into, you need to make sure you have things in order whenever the inevitable time comes. There’s few things that are guaranteed to us in life but one of those things is always death and regardless of death, life has a sticky habit of continuing to move on. People move into our empty houses, and take our empty job spaces and it keeps going no matter what. Make sure that your loved ones are taken care of and a will can do that. You need to ensure that your belongings pass to the people without delay or argument, making a last will is as much about your wishes as your wealth. It means that you take the decisions about which of your possessions goes to whom, whether they are financial or simply sentimentally valued possessions. Making a last will is also about your beneficiary’s health as much as wealth.

Usually everything is passed automatically to a spouse but dealing with death is so difficult and if you add any uncertainty or ambiguity at the same time then health problems can undoubtedly arise. Companies such as LawFriend can be there for you to help you set up a will and last testament. Where the deceased has not actually left a will, your family would have to choose a representative for you to approach probate to obtain a grant of letters of administration, ensuring someone is appointed as the administrator for your estate. Following this, the estate is then distributed under the rigid rules governing the Law of Intestacy. This law, which is laid down in the Administrations of Estates Act, applies irrespective of the amount of wealth a person owns at death. The law does not allow any opportunity to consider any wishes the deceased may have had, even if those wishes appeared obvious and written down other than by a properly executed Will.

In fact, a Will that is written but isn’t executed properly could very well mean that the deceased has in fact changed their mind as to whom the beneficiaries should be. If you don’t have a will set up, your money and assets can actually be passed directly to the Crown despite what you may say out loud. Your chosen executor who is appointed can apply for a grant of probate which frees your estate for distribution to your family in the exact way you have already decided in your will. Spouses may not automatically inherit all of your estate and it is important to be aware that the spouse of a deceased person who died intestate does not automatically inherit the whole of the spousal estate.

Inheritance tax may be payable on your estate when you pass away and if in any doubt about it you should speak to a solicitor. Inheritance tax thresholds vary depending on your situation and anything worth above £325,000 – including money, property investments, but after deducting debts and funeral expenses – will be subject to 40% tax. You have six months from the end of the month in which death occurred to pay the tax and payments can be from any savings or investments available within the estate. Without that last will and testament you beneficiaries are left with the problem of obtaining a Grant of Letters of Administration and appointing an administrator in your absence to deal with disposing of your estate under the rules of intestacy.

 

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Keeping Calm with IRS Tax Debt

Posted by on Nov 9, 2016 in Uncategorized

The IRS can file a federal tax lien, whenever a tax payer has a delinquent debt. However, they do not generally file a lien unless the debt is substantial and over twenty five thousand dollars. At that level, the IRS almost always files a tax lien. They will also regularly file a tax lien if the taxpayer owes less than that amount and gets the IRS to agree the taxpayer is in ‘not collectible status’. Not collectible status is when a taxpayer can show that their income is insufficient to pay anything on the tax debt, after only basic needs are taken care of.

In this status, the IRS agrees to cease all collection efforts, leaving wages and bank accounts free from tax levies, usually for a period of one year which 1is great. The not so good part is that it is accompanied by a federal tax lien. Many people think these are filed against property, but that is not the case. The lien is personally filed against the taxpayer, which will appear on a person’s credit report in the public records area. The lien will remain there until the tax debt is paid in full or is settled for less than is owed through an offer in compromise.

The IRS collection process is something that some people could find pretty scary if they haven’t filed the appropriate taxes. It can be the case that the first time a taxpayer realises that they owe the IRS at all is when a Notice of Intent to Levy is received. A Notice of Intent to Levy is a written warning that is mailed to the taxpayer, alerting the taxpayer that the IRS is attempting to collect on a tax debt. Notices of Intent to Levy can come with a ten or thirty day warning period, giving the taxpayer time to take action to protect themselves. Notice of Intent to Levy should never ever be ignored.

A threatened levy can be stopped, if the taxpayer takes the proper action. Generally, stopping a levy requires that all tax returns are filed up to date. Also, a threatened levy will be stopped if the taxpayer pays the debt in full, contacts the IRS and makes payment arrangements, or can prove to the IRS that they are in financial hardship and lacks the ability to make a payment on the tax debt. Seeking advice from companies such as platinumtaxdefenders.com is so important here as it can make all the difference between burying your head in the sand or getting yourself straightened out with the IRS. To prove financial hardship, the tax payer must submit a financial disclosure to the IRS and meet their criteria for financial hardship. It is important to remember that the IRS’ definition of financial hardship is usually far narrower than the taxpayer’s definition. If you can afford treats, holidays and takeaways you’re not considered in hardship so make a note of that!

 

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Keeping Calm with IRS Tax Debt

Posted by on Nov 9, 2016 in Uncategorized

The IRS can file a federal tax lien, whenever a tax payer has a delinquent debt. However, they do not generally file a lien unless the debt is substantial and over twenty five thousand dollars. At that level, the IRS almost always files a tax lien. They will also regularly file a tax lien if the taxpayer owes less than that amount and gets the IRS to agree the taxpayer is in ‘not collectible status’. Not collectible status is when a taxpayer can show that their income is insufficient to pay anything on the tax debt, after only basic needs are taken care of.

In this status, the IRS agrees to cease all collection efforts, leaving wages and bank accounts free from tax levies, usually for a period of one year which is great. The not so good part is that it is accompanied by a federal tax lien. Many people think these are filed against property, but that is not the case. The lien is personally filed against the taxpayer, which will appear on a person’s credit report in the public records area. The lien will remain there 8until the tax debt is paid in full or is settled for less than is owed through an offer in compromise.

The IRS collection process is something that some people could find pretty scary if they haven’t filed the appropriate taxes. It can be the case that the first time a taxpayer realises that they owe the IRS at all is when a Notice of Intent to Levy is received. A Notice of Intent to Levy is a written warning that is mailed to the taxpayer, alerting the taxpayer that the IRS is attempting to collect on a tax debt. Notices of Intent to Levy can come with a ten or thirty day warning period, giving the taxpayer time to take action to protect themselves. Notice of Intent to Levy should never ever be ignored.

A threatened levy can be stopped, if the taxpayer takes the proper action. Generally, stopping a levy requires that all tax returns are filed up to date. Also, a threatened levy will be stopped if the taxpayer pays the debt in full, contacts the IRS and makes payment arrangements, or can prove to the IRS that they are in financial hardship and lacks the ability to make a payment on the tax debt. Seeking advice from companies such as platinumtaxdefenders.com is so important here as it can make all the difference between burying your head in the sand or getting yourself straightened out with the IRS. To prove financial hardship, the tax payer must submit a financial disclosure to the IRS and meet their criteria for financial hardship. It is important to remember that the IRS’ definition of financial hardship is usually far narrower than the taxpayer’s definition. If you can afford treats, holidays and takeaways you’re not considered in hardship so make a note of that!

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More Helpful Tips for Leasing Automobiles

Posted by on Nov 8, 2016 in Financial Jobs

How can you lease the right car or van? There are many different leaders to choose from including  discounted-new-cars.com. The key is to know which steps to take to get the best results. Here are some helpful tips:

  1. Read the fine print

It’s important to read all the details related to leasing a car or truck from a particular company before you sign on the dotted line. It’s important to make sure you know everything that’s required of you and the leader.

Leaders usually offer a list of terms & conditions for leasing. You can usually find that on the website, although the company might also offer the information upon request. What’s important is to know all the details involved if you lease a car/van from a company, so you’ll know what to expect. Without taking this step, you could have some surprises later that you don’t want to deal with. That’s likely a situation you’ll want to avoid.

  1. Weigh leasing’s pros and cons

Leasing a vehicle has pros and cons, which you should consider before deciding whether or not to lease with a certain company. There are many times when leasing is the best option for you, but it’s important to get all the facts and do some thinking before you make your decision.

car-race-ferrari-racing-car-pirelli-50704-medium-jpeg

  1. Do your homework

This is one of the most important steps to take before leasing a vehicle such as at *** discounted-new-cars.com. What’s your price range? Which make and model do you prefer? What features are the most important for your needs?

These are some very important questions to ask before you start looking for a car or van to lease. It’s important to consider these issues, so you have the best solution. Make sure to do such research to make you’re choosing the right car or truck for your needs.

This is especially true if you’re not a car expert. In that case, it’s more important than ever to make sure you’re choosing an automobile that’s right for your needs. It will help you to make the best regarding the vehicle that’s perfect for your particular needs.

  1. Research a company

Before you decide to go with a particular company, make sure to do some research to figure out if it’s the right company to deal with. In particular, read some reviews to get the consensus that past customers have had.

There might be 1 or 2 unhappy customers. What’s most important is to figure out if most of the company’s past customers were satisfied doing business with it. If that’s the case, then you’ll likely have a good experience.

  1. Try to negotiate

Sometimes auto leasers won’t be willing to budget on leasing prices. On the other hand, others will allow you to do that. When negotiating, make sure you’re making a realistic offering based on industry standards. This will give you a better chance at landing the price you want when leasing a particular car or truck.

These tips can help you to lease the right car or van also check discounted-new-cars.com.

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