Tag: Financial Services

Annuity Quotes- its day to day application

If you are nearing retirement you might start worrying about the different pension policies and the annuities. Whatever may be the pension policies, most importantly one should focus on the lifestyle that one will carry on after one stops working. An annuity converts a huge amount of sum generally the lump sum amount of the pension into a guaranteed income after retirement that will exist for entire life you live. Retirement annuities which give the best annuity quotes include increasing annuities, guaranteed annuities, joint-life annuities and investment-linked annuities.

Annuity quotes keep on changing from one holder to the next. The main reason why rates would constantly change is due to the insurance company where the annuity is purchased. There can be up or down in the rating of the quotes because of the clauses in the contract which the insurance company applies. The companies also control the rate of quotes which is responsible for the lifestyle and health condition of the contract holder and whenever there will be a change in the lifestyle the insurance companies will have the privilege to discontinue.

The type of annuity too has an effect on the annuity quotes. As for example life annuity would have a notable effect on the quotes since such a type of payment will be based on the entire span of one’s life. This means that the holder of the contract will stop with the payment upon death. Some annuity plans also consider the dates in the contract. This involves the cancellation of the contract well before the death of the contract holder. But this is not beneficial for the plan holder since he won’t be able to claim any more money in the near future. This is why each option of the annuity must first be reviewed before taking up of any claims. Again it is the discretion of the holder of the contract if he would stick to the laws set by the insurance company or whether he would be applying for another option after the expiry of the contract.

Apart from the contract and the type of annuity, annuity quotes can always be controlled through claiming. If a contract holder would not claim his earnings in a couple of months, the insurance company will have to increase the rate of interest from about 1 to 2%. Some insurance companies increase it to about 6%. The increase in the rate of interest depends upon the bylaws of the state as well as the boundaries in the contract. Any breach of contract is entitled to immense penalty.

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Handy Tips to Using an Online Calculator

The introduction of the internet has ushered in a multitude of online calculators freely available for anyone who needs them. From basic calculators to the most complex calculus equations, to mortgage and auto loan calculators, name it and you will find it online. With just a few clicks here and there, you can easily arrive at the number you are looking for.

Calculators have become an important tool evidenced by the fact that most of our households and offices today are filled with them, we have them on our mobile phones. PDA’s and watches. With the wide array of calculators to choose from, one is fast gaining popularity as an important tool for future homeowners, that of the mortgage calculator with taxes. This simple online tool can help you deduce your mortgage payments based upon your total loanable amount compounded with interest rates and loan terms while factoring in the taxes involved.

Another variety of mortgage calculator does its work based on your total mortgage amount per thousand, which can easily be summed up through a payment per thousand calculator. This calculator quantifies your mortgage payments and allows you to see what it will cost you to buy a larger or smaller home.

To make your online mortgage computation much easier, we are putting together a step by step guide that can make every newbie a calculator expert in no time.

Step 1

Input the total amount of loan you wish to apply for. If you are looking towards making a down payment, then you will also add that in on the specified area. The online calculator will automatically reduce your total loan amount based on your down payment.

Step 2

Input your expected interest rate. You can search online to look for the average interest rates available in the market or inquire from your local bank to come up with a realistic number.

Step 3

Factor in your desired loan term, you can choose from the available options though most borrowers opt for a 30 year fixed term.

Step 4

Include your local cost of taxes and insurance needed for your mortgage loan.

Step 5

Press enter and let your online calculator handle the rest.

Through these simple steps, you will be able to get an accurate estimate of how much your mortgage payments will amount to and will help you assess whether your are financially prepared to take on this huge investment.

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Tax Deductibles for Internet Marketers

Just like any group of freelancers or workers who run their own businesses, one of the advantages of being an internet marketer is that there are quite a number of expenses and deductions that you can claim when it comes to filling in your tax return. There are of course a number of items specific to your particular business that you will be able to claim and these should be discussed with your accountant. But there are certain areas that every one who works freelance and online will equally be able to claim as a legitimate part of their business expense and some of the more common areas will be outlined here in this article.

The first and most important thing to note is that no matter what it is you are going to claim for you will need to keep records of each and every transaction and keep hold of all your receipts. If it is for a piece of online software or a hosting account, print it off and file it for later. This will save you a massive effort and printing session when it comes time to do your taxes!

Secondly, no matter if your entire business is online, the first place to look for expenses is the physical space of your home or office.  If you work from home, add up what percentage of your home is dedicated to conducting your business. You will then be able to claim this back as a percentage of your rental or mortgage payments. In addition, any expense related to the running of that premises for the purposes of business will also be deductible This includes the cost of utilities such as electricity and phone, as well as anything to do with the maintenance of the property for business purposes. Your computer is essential business equipment so this should be deducted too. This also applies to the furniture surrounding that computer, so keep receipts for the desk, chair, monitors and printers and anything else you use in the office.

Once you have taken care of the physical space of your business, you should look at deductions for the virtual space. Obviously, just like electricity and phone, you can claim for your broadband service. Your website (or for most internet marketers your multiple websites) are also rented space so you can claim for their domain name purchase, their hosting accounts and any maintenance or site add-on’s you might get from your hosting provider. Any support calls will also be deductible. After that, think about any plugins or scripts, software or ebooks you might have purchased for the business – most of them will be deductible. Most importantly, think about any outsourcing you might have done, from backlinks to paid articles, design work to a virtual assistant. All of these expenses can be reclaimed.

Lastly, think about your advertising. Did you spend any money on adwords or Facebook ads, or even put an advert in a trade publication or website? All of these can be fully reclaimed.

Remember, there’s no point in not claiming. Through use of a good accountant and a bit of discipline each time you make a payment through the year, you could find that when it comes time to pay your taxes, you have significantly reduced your arrears.

Alex Simmonds is a journalist and blogger. He currently writes a blog about the contracting sector covering everything from contractor mortgages to payday loans.

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Reducing your IRS tax debt – A step towards fiscal freedom

Knowing as well as learning the ways of reducing your IRS tax debts is the only possible solution to the nerve-wracking problem. According to resent studies, it has been seen that the huge number of IRS tax defaults is due to lack of awareness than the negligence on the part of the actual tax-payers. Most people in the US do not have any inkling ways to seek IRS tax debt relief and this ignorance builds up their fearfulness that leads them into incurring more and more debt. If you too have missed your payments on your taxes and you’re not aware of the ways in which you can pay them off, here’s help for you. Have a look at the ways in which you can tackle your IRS tax debts.

Guaranteed installment agreement: If you want to make sure that you’re soon free of IRS tax debts, you can negotiate a guaranteed installment agreement with the IRS. However, you can only seek help of this option if you have dues that range above $10,000 or less. You also need to meet some more criteria like all your tax returns must be filed and the monthly installments will pay off your balance within 36 months. You also need to agree that you will pay your tax debts regularly in the near future. The biggest benefit that you can reap off the guaranteed installment agreement, you will not require filing federal tax lien. Tax liens can easily hurt your credit score, if reported.

Streamlined installment agreements: You can talk to the IRS about your financial hardship and then you may negotiate a streamlined installment agreement if the balance that you owe amounts to $25,000 or less. You need to agree that you will repay the balance within a span of 60 months. The minimum balance that the IRS will accept is the total amount owed (including the penalties and fees) divided by fifty. All your tax returns must be filed and you must agree to file your tax debts on time.

Offer-in-compromise: If you think that your present monthly income is not enough to suffice the huge amount of tax debt that you own, you can go for offer-in-compromise option. If you file an offer-in-compromise, you can offer to pay an amount that is lesser than what you actually owe your creditors. As you file your request with the IRS, they will check whether or not you are actually liable to pay off your tax debt. By opting for this debt repayment method, you can save your dollars and use it in paying off your other obligations.

Nothing can be worse than getting drowned in an ocean of tax debt. If you’re up to your eyeballs in IRS tax debt and you are looking for tax debt relief options, you can follow the points mentioned above. Pay off your taxes and lead a free of all debt obligations.

Jenney Roberts is a contributory writer of Debt Consolidation Care. She is a financial writer and has specialization in financial problems and its solutions. She holds her expertise in the Finance industry and has made significant contributions on debt consolidation, savings, planning, frugality, debt settlement etc.

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Factors to Consider Before Diving into a Business Loan

As the economy gets tighter and the rate of unemployment increases, a good number of our population are starting to look into setting up their own line of business in the hopes of rising up and triumphing against today’s less than inspiring economy. As most business ventures require a significant amount of money, a lot of the country’ potential entrepreneurs are resorting to taking out business loans from various lending institutions. TotallyMoney.com explains that though acquiring a financial assistance to fuel your initial capital is a good start, borrowers should first consider several important factors before filling out those loan application forms.

Equity Investments

Getting a business loan is much more complicated as they often require a larger amount as opposed to that of a personal loan and as such they implement a more stringent approval process and asks for more detailed requirements from the borrower. One of these considerations would be your equity investment. Your particular lending institution would need to know your total current investment towards your business and discern if your business is stable enough to continue operations uninterrupted by financial setbacks. Your equity investments will help creditors undermine the value of your business vis a vis its outstanding debt to arrive at a justified loan amount for your loan. As a general rule, the weaker your investment portfolio for your business is, the lower your loanable amount.

Type of Loan

Depending on your requirements and credentials, your creditor will look into more effective and safer loan options for you. Those falling below their standard requisites might be required to take out a secured loan which gives creditors more security as they have something concrete and substantial to hold on to. These collateral are usually in the form of properties. But those who have exceptionally good credit and financial liquidity may have higher chances at getting unsecured loans. Financial experts advise discussing your available options and carefully compare unsecured loans with that of secured loans to determine which works well given your financial capacity.

Earning Capacity

Another important factor that your creditor will surely look into is that of your business’ current financial standing to help them assess the liquidity and profitability of your venture. Keep in mind that these lending institutions will look closely into your business’ viability as they too would not like to earn losses as well.

Operational Capital

Lenders will also need to account your current working funds and compare them with your existing liabilities. The higher your available operational capital is, the more assurance they get that you have the capacity to pay them at a given time.

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