Category: Legal Branding

Owning real estate is always an excellent and exciting investment strategy. Of course, there are different types of investments, so it is vital to know your ambitions and reasons behind investing. Based on that, you can flow into the investing adventure and make the right call. Here are five essential reasons why investing in real estate is beneficial.

You’ll earn passive income as long as you live

There is no better thing in the financial world than a passive income. Making a substantial amount of money each month while doing (almost) nothing is more than attractive. However, every real estate investment is different. For example, some people find it challenging to own and maintain a property on the opposite side of the country. In that case, you can consider using a property manager like ICC Property Management or some of the modern software solutions that make things a lot easier. Also, it is necessary to attend investment property seminars and learn more details before making your first investment.

Real estate value increases over time

The longer you hold onto your real estate, the more money you will make over the years. Even when it seems that things are going in the wrong way, you should wait for uncertain times to pass. Remember, prices will always return to normal or even jump higher. If it ever happens to you, it is essential not to panic, and patiently wait for things to settle down. Also, real estate investing can provide a renewable source of capital. Re-financing options are excellent when property values increase, and mortgage financing decreases.

Portfolio diversification

Every smart investor will strive to reduce potential risks by allocating funds to different types of assets. Also, every expert in this field will tell you the same thing – not putting all the eggs in one basket is a wise thing to do. The variation of your assets will increase the value of your portfolio over time and reduce the overall risk level at the same time. Adding real estate investments to your collection is always beneficial because it helps you offset the volatility of other riskier assets. And finally, when you have investments in different regions or states, you will be exposed to different economic cycles. Why is it good? Because you can capitalize on the market benefits once you decide to sell a particular property.

Tax advantages and benefits

It is vital to understand that the value of your real estate investment is sheltered from taxes until you sell your property. In other words, if your property increases in value over the years, that capital gain ($20,000, for example) will be protected from tax until selling. Such benefit compounds if you own multiple properties. Also, there will always be several tax deductions when investing in real estate. Usually, the cost of operating your property can be deducted from your income. That includes property taxes, repairs, maintenance, mortgage interests, and other similar expenses. However, fees are a specific matter, so it is always wise to talk to professional tax accountants before making decisions.

Potential wealth creation

Investors’ ambitions are different. Some people are willing to invest more, and consequently, to expose themselves to higher risks. On the other hand, other investors like to be safe and invest only in one or two properties. But, in the world of business, the high risk usually results in high rewards. Therefore, multiple strategical real estate investments can, over time, become vehicles for wealth creation. Increased equity and wealth are coming when investment properties increase. At the same time, the corresponding mortgage financing will be reduced through regular mortgage payments. However, to create wealth over the years, you have to be smart about your investment, but a bit daring as well since the risk is unavoidable.

Keep in mind that investing means serious, strategical spending money, and not a type of gambling. Hence, sometimes, it is better to talk to professionals and more experienced people before you decide to make your real estate investment.

Financial glitches are common and may happen to anyone and at any time. Imagine an unexpected expense that comes up suddenly when the payday is weeks to go and your savings are close to nothing. Alternatively, you may want to make a big purchase but don’t have a great credit history to get a loan easily. What if you want an easy repayment route for a big loan that you plan to take in the future? What if you want instant cash with zero hassles?

The only solution to these situations and questions is an online installment loan for which you can get instant approval. But you need to be well aware of such loans before you take one. Let us brush up your facts about this amazing borrowing option that can save you when the going gets tough.

What exactly are instant approval online installment loans?

First things first, you need to know what an installment loan is. As the name implies, this is the loan that you can pay back in the form of small installments every week or month, as mutually agreed with the lender. The principal and interest are added up and divided by the number of payback months to calculate the value of each installment. Obviously, these loans are easy to pay back because you have to pay smaller amounts that are easy on the pocket.

However, the formalities involved in procuring such loans make them a challenge, particularly if you have bad credit. But the option of instant approval online installment loans comes to your rescue if you want it fast even with bad credit. Just a small form to fill, no documents to fax, no credit checks and you can get instant approval for your application! This form of borrowing can be a lifesaver if you want fast cash without being stressed about repayment in the long run.

Eligibility requirements are minimal

When you choose an online installment loan, you need not worry much about approval because the eligibility requirements are minimal. If you are over 18 years of age and have a regular job, you can go ahead and apply. A valid proof of income, from a job or business, is something that you need to show for indicating your repayment capacity. What’s more, you may get the approval online if you can prove regular income from a part-time job and even incapacitation benefits.

An operational bank account where you get your regular paychecks is another requirement that you need to fulfill. Considering the minimal requirements, getting an installment loan online seems a good option if you want instant approval rather than being hassled with myriad checks and lots of documentation.

Easy on borrowers with bad credit

A poor credit score is one of the biggest reasons why lenders may not be willing to give you a loan. This can land you in big trouble when you require cash in an emergency because your chances are as bad as negligible. However, online installment loans can come to your rescue because these sites connect you with a network of lenders.

You will probably find one or more of them who are willing to lend without a credit check. In fact, they will be ready to give you an installment loan, provided that you can convince them about the repayment of installments comfortably. Rather than worrying about your weak credit history, these lenders are concerned about your ability to pay back. This is something that they judge on the basis of your regular income.

Serve as a credit enhancement tool

Apart from the fact that you can get an installment loan online even for bad credit, there is another vital credit-related benefit that such loans serve. You can actually use an installment loan as a credit enhancement tool. Just be regular with your monthly installments and you may actually repair your poor credit score. The best part is that it is easy to do because you have small payments to make at regular intervals, which you can do comfortably.

You can actually get a credit enhancing loan that is specifically designed with the objective to enhance your credit score. This is something that can be a key advantage for your credit portfolio in the long run, even without being a major financial burden. The only advice is to be committed to not using the loan amount frivolously because you wouldn’t want to pile up on your liability.

Avail flexibility with installment loans

Another good thing about online installment loans is the flexibility you can avail of with them. Since you have multiple lenders who may be willing to extend financial aid, comparing is the smartest way to shop for an installment loan. You can seek flexible repayment terms and timelines, which may range from only a few months to even years.

Obviously, you should choose the loan term wisely because long term installment loans extend over a long time span. This may serve the advantage of smaller installment payments but at the same time, your interest burden will probably increase. Conversely, short term installment loans are ideal if you want a comfortable repayment system even without paying too much interest.

Borrow only for legitimate reasons

Although online installment loans are easy to procure and repay, it does not mean that you should not be judicious about them. Don’t borrow irresponsibly and for reasons that are not good enough to burden yourself with a liability. Make sure that you take a loan only for a legitimate reason. Auto and building repairs, medical bills, college fees, and outstanding utility bills are some of the reasons that are feasible. At the same time, you should borrow only as much amount as you need.

Installment loans can be a tempting proposition, considering the fact that you get a lump sum amount which you need to pay back only in smaller payments. But you should not fall prey to this temptation and still follow the rules of responsible borrowing. Do bear in mind your monthly income and expenses to arrive at an installment amount that you can pay comfortably and avoid default.

A credit score is an analysis of your credit; it represents your creditworthiness. It relates to how likely you’re to repay your debts. 

Having a good credit score is beneficial in numerous ways, including lowering your interest rates on loans, and it’s a key factor that lenders consider when assessing your funding requests.

There’re numerous models of calculating credit scores, but Fico, one of the leading scoring agencies, puts an excellent credit score anywhere at 800-850.

In the article below, we shall highlight the top five tips for improving your credit score. 

However, understand that the journey of improving your credit score is not a sprint but rather a marathon. It will take time, and you need to be patient.

Always Pay on Time

First things first, always keep your debts in the green, and this shows the creditors that you’re responsible for your debt.

Experian states that payment history heavily influences your credit score.  It usually forms the basis and the most influential factor of VantageScore and Fico.

Remember that credit score is a reflection of your ability to repay your loan timely. From the creditor’s perspective, if you have an established history of timely payment, it’s a good indicator that you can handle your future debts responsibly.

Therefore, you would want to stay at the top of your payment and avoid issues such as late payments, defaults, repossession, or third party collections.

Anything that may indicate a non-performance of a loan, such as filing bankruptcy, is going to dent your credit score severely. 

While at it, it’s worth noting that staying on top of your payment not only applies to the conventional lenders, but also other entities such as bills, including utilities, rent, and cell phone services.

Optimize Credit Utility Ratio

Creditors often compare your credit utilization rate when determining your credit score.

Credit utilization refers to the amount of credit card balance compared to the credit limit.

Generally, the scoring agency recommends that your credit utilization stays below 30%.

There’re numerous methods that users can employ to shrink the balances owed while at the same time maintaining or increasing the amount of credit.

Here are some of the common methods of improving the credit utilization rate listed by Fundera;

• Paying more than the monthly minimum;  this helps to reduce the card balances
• Asking for a higher credit limit
• Leaving your card open after paying them off

Leave Old Debts On Your Report

I know it’s tempting that once you’re through with the student loan or even mortgage, you might get impatient and want to rid the loan from your reports.

But as long as your payments were timely and complete, no need to scrape them off.

In any case, they may have a positive impact on your credit score.

See, many of the lenders will usually go back in history to see your credit metrics and loan performance. And if you have an account with a long history and a solid track record of paying your loans promptly, it shows you’re responsible.

Regularly Monitor Your Credit

Human is to error, and at times, there might be inaccuracies in your credit report.

Regardless of whether they’re unintentional, they can derail your journey to a great credit score.

So, you must be always up to date with your current financial status.

Regular credit monitoring is necessary, and if you catch any inaccuracy on your credit report, you can file a dispute to the scoring agencies, and they will rectify.

Regular monitoring of your credit not only helps you to see all your financial accounts under a single roof but reviewing them may also be an incredible way of spotting inaccuracies or even instances of security theft.

Take Advantage Of Score-Boosting Programs

Experian and Fico are the leading scoring agencies in the market.

These two agencies have programs that allow consumers with thin credit profiles to boost themselves.

The Experian Boost program, for instance, will allow you to incorporate online banking data, utility payment, or even communication to your report.

While these programs will not improve your credit rating in leaps and bounds, it will still have a positive effect on your overall score.

Conclusion

Raising your credit score is easier than you think.

While the mentioned tips are by no means conclusive, following them religiously will see your credit rating improve in no time.

Getting in trouble with the IRS is the last thing that you would want to do. For this reason, it is always advisable to be regular with your tax returns and payments. A major concern for taxpayers is criminal charges by the IRS. If you are going through investigation or expect a potential audit coming up, you need to be aware of the situations when the authorities may file criminal charges against you.

Though this may sound scary, remember that you will not get implicated unless you have intentionally done something seriously wrong. Honest mistakes, on the other hand, are not illegal and you will probably not go to jail for them. The key lies in being proactive and knowledgeable so that you can get help when you require it for preventing such a situation. Here are some facts that you should know about criminal charges by the IRS against the taxpayers.

Tax fraud can implicate you

Deliberately cheating on your tax returns is a crime and will definitely not be taken lightly by the IRS. If you misrepresent your annual income on the return to avoid paying taxes, you are doing a tax fraud. Once the IRS is able to prove that you did the fraud intentionally, they will go ahead and prosecute you for tax fraud.  The burden of proof in such cases lies in the tax authorities, which is the reason that the IRS would rather avoid such cases. But if you are found guilty of tax fraud, be ready for jail time and large fines as well.

Tax evasion can also lead to criminal proceedings

Tax evasion is essentially a subset of tax fraud and carries similar penalties because it is also intentional. Evasion involves misrepresenting the true state of your affairs to the authorities just to reduce the amount of tax that you need to pay. Obviously, this will not be a mistake and you will know when you are intentionally claiming an income lesser than the actual. Similarly, overstating your deductions significantly is a form of evasion.  Even making large and questionable donations to charities for claiming deductions comes under the scope of evasion. Such situations can also cause criminal charges by the IRS.

There are certain red flags that the IRS will look for

When it comes to initiating a criminal investigation, the IRS will consider certain red flags that indicate fraud or evasion. Experts at Travis W. Watkins Tax Resolution & Accounting Firm have a checklist of the indicators of wrongdoings that the IRS may bear while considering criminal charges against a taxpayer. Here are the ones that may put you under the lens:

• Consistently underreporting your income
• Destroying your records deliberately
• Maintaining inadequate or shady accounting records
• Concealing your assets intentionally
• Dealing exclusively in cash
• Illegal activities
• Fictitious deductions
• Omission or understatement of substantial amounts of money
• Refusing to cooperate with an examiner or auditor
• The irrational explanation for the behavior

Unintentional mistakes will not implicate you

While the IRS will definitely not spare you for fraud and evasion, they will not implicate you for unintentional mistakes. Being negligent with your tax returns and payments is also not illegal. When you do it without wrong intentions, you are not lying about your income or concealing it deliberately. These are genuine mistakes and the authorities are trained and experienced enough to make out the difference. You should not be concerned about criminal proceedings in such situations because they will probably not happen. At the same time, you should make your best efforts to avoid such mistakes. Hiring a tax professional to handle your returns and payments is the best approach in this context.

Prosecution by the IRS is less common than you imagine

If the IRS approaches you with a grave matter such as audit, evasion or fraud, you should take it seriously. Rather than having a panic attack, you should seek help from a tax attorney and respond properly. Scary as a criminal case by the IRS may sound, it is less common than you imagine. Statistics indicate that it is very rare for a taxpayer to be investigated for fraud. Further, the rate of prosecution in such criminal proceedings is also low. Despite this, you should still be genuine and honest with your returns and taxes to avoid the situation in the first place. If you are still worried about an impending criminal investigation or charges by the IRS, you should see a tax lawyer sooner rather than later.

The thing that you need to do immediately when someone from your family or friends get arrested is that get the person released on bail. The nature of the case and the current state laws around it determine the bond amount. If you know a trusted bail bondsman in the city, such as Castle Bail Service Columbus, you can expect the bail bond process to go smoothly. The person can come out of jail as soon as the company pays the bond. However, to ensure everything goes in the right order, you have to pay attention to a few things.

Bail bond process

As you may know, accuse has to pay some money as bail to get rid of the imprisonment temporarily. It is a form of guarantee that the person will visit the court at a scheduled date and time as required. The magistrate decides the amount, which the accused can pay himself or ask his dear ones to deposit. In this process, they may take the help of a bail bondsman. A bail bond company mediates between the government and the accused as it assumes the responsibility that the person will attend the court hearing. The company charges a fee for the service. If the accused doesn’t appear in court, the bonds company has to clear the amount to the government.

Usually, these companies charge 10% of the total bail amount from clients. Anyway, you should know how much the firm would take before you hire it. You will need to sign an agreement, too, and pay back the rest of the amount as per the negotiation.

Online search

You can find a reliable bail bonds company online. Make sure to look at the reviews, if possible. What others are saying about the service can reveal if you should opt for it or not. When you go through a couple of them, do pay attention to their background and experience. The companies should be trustworthy and reputable. Else, you can talk to your lawyer also for a reference. Since they have to deal with them frequently, you can get a useful contact for your needs quickly.

However, make sure you don’t believe anyone blindly. Check the status of the license the company holds. Sometimes, the charges of misconduct or legal action from a client can result in restriction or revocation of their license. So, be sure to find out if the concerned bail bondsman is facing any such issue. Plus, be specific about how much the company would charge and what they need to post bail.

Contract

Signing agreement is mandatory. Before you seal a deal, read all the terms and conditions carefully. For example, if you have convinced the bondman about partial payment of the fee along with monthly installments, then it should find mention in the papers. Plus, it should also declare the interest rate (if any) charged by the company.  Then, these companies can ask for collateral, where you may have to pledge your home or some other asset. Any terms or conditions around it should also feature in the documents. And, yes, don’t forget to collect invoices.

Since honest bail bonds companies understand the pain of the defendant and are conscious about their reputation, you would not have to worry about their services.

Every business needs to maintain a minimum financial balance in order to carry out smooth operations. Seeking a loan or a credit from a financial institution is a very common practice. And, there are many options available in the market as well.

Still, a quick boost in cash deposits for any small business is best met with short term loans. For example, you can get a short term loan here, and clear of your outstanding debts to start afresh. They are easy to get and repay, and offer the much-needed flexibility without burdening the borrower with long-term repayments of the loan.

So, what exactly are these short term loans?

Simply put, like any other loan, short term loans are also credits that can be secured from a financial institution. There is an interest to be paid by the borrower on the principle amount borrowed, according to a monthly installment plan. The only difference lies in the term for which these loans are offered. Usually, the term for such loans range between 3 to 18 months.

But, the real question still stands unanswered- how do these short term loans benefit your small business?

Well, here we have listed some of the benefits of short term loans:

Short Term Loans Are Easily Processed

Applying for a short term loan is easier than ever. With the financial institutes offering loans online, the processing time is reduced from days to a matter of minutes.

In fact, all you need to do is fill in the application, upload a few needed documents. And you’ll receive a notification about the money being credited into your account not later than the next day.

With the ease in processing and securing of loans, short term loans offer stress-free conduct to business owners like you.

Short Term Loans Offer Flexibility In Repayment

Another benefit that short term loans offer is the flexibility in repayment of the loans. In other words, the lender may accept a flexible payment for the installments they receive. Moreover, the lenders are more interested in retaining a customer; since short term loans are easily cleared off, and there is no limit to how many loans you can avail at the same time.

Furthermore, short term loans, are customizable in terms of rate of interest, and the amount for installments. Since these loans usually entertain small amounts of money, this allows the borrower to easily compare and manage their loan repayment.

Short Term Loans Are More Cost-Effective

As already mentioned a short term loan can be customized, the interest rates vary for each application. Usually, the financial institutes consider a number of factors such as your credit history, your annual turnover, the assets you have, and more alike, in order to offer the best loan deals for you.

Flexibility in the rate of interest makes these loans more cost-effective with any other type of financing option. The typical range for short-term loans varies from 5% to 35% depending upon the amount requested and the period of the loan, along with the aforementioned factors.

Short Term Loans Are Usually Unsecured

While most of the other loans are secured, meaning they need some sort of collateral to secure the repayment of the loan, short term loans are usually unsecured. This means, you don’t need to place your property, or even your assets for that matter as collateral to avail a short term loan.

This can further enable you to exercise the liberty and use the loan amount as per your needs. For example, you can avail of a short term loan without having to put your shares or stocks at stake and use the amount to further expand your inventory.

Short Term Loans Can Help You Manage Your Business Capital

One of the most common situations, when a business struggles to manage, is when it runs short on business capital. As already mentioned, every business needs to hold on to a certain amount of capital for smooth operations. On the contrary, in the event of a shortage of capital, it could be a bumpy ride.

Short term loans can get your business out of these situations, almost instantaneously. For example, there can instances when you may need to pay a vendor of yours, but your business has not generated enough profits. This could create a tense atmosphere for you and your vendor. Thankfully, you can apply for a short term loan to pay the vendor, and carry on with the operations, smoothly.

Short Term Loans Are Best Suited For Emergency Needs

As the popular proverb goes, change is the only constant, business scenarios are bound to change. The circumstances can take grave turns, unannounced and you may find yourself amidst an emergency situation. For example, its payday, and you’re running short on capital. This is just one instance where securing a short term loan may help. There could be a number of situations where you may need the capital all of a sudden.

Since short term loans are easy to process and require minimal documentation, it can be a perfect solution to your emergency financial needs.

Having known the benefits of short term loans, you may feel an urge to know more about it and how to avail it.

Here’s some bonus information that may help you secure a short-term loan, easily.

Look for online financial institutes

With the digital revolution, even the financial institutes and large commercial and public banks have taken their operations online. You can access the information online regarding short term loans and the institutes that offer the same.

Compare the rates of interest

Once you’re done preparing a list of institutes that offer short term loans, you need to compare them. Look for the ones that can offer you the maximum amount for the shortest period at the lowest rate of interest. This would enable you to repay your loan easily and continue with your life, stress-free.

Choose the best plan

Now that you have the sorted list of banks and lenders, the wait is almost over. Make sure you choose the plan that suits your needs the best, along with meeting your budget. Because eventually you are to pay back the loan and you need to ensure that you can repay comfortably.

Hope that this information helps you secure the best deal for your financial needs.