Make Changing Your Accountant As Simple As Changing A Lightbulb

Make Changing Your Accountant As Simple As Changing A Lightbulb
Many businesses may not be completely happy with their
current accountant, but fear changing because it seems like
a lot of work, extra expense and irritation. However, if
your accountants are not doing the job you are paying them
for, then changing is your only realistic option.

Here are our top tips that are sure to make changing your
accountants as simple as it can possibly be:

1) Only Use Chartered or Otherwise Qualified Accountants

If your new accountant and your existing one are both
chartered and members of the Institute of Chartered
Accountants or another professional body such as the ACCA,
then they are bound by the rules of those organisations to
act in a particular way.

This means your existing accountant will have to hand over
your case and any papers belonging to you within a
reasonable time.

2) Changeover or Handover Fees

Members of the Institute of Chartered Accountants and ACCA
are required to provide these documents without charge, so
there should be no handover fees charged by your existing
accountant.

3) Your New Accountant Should Take Care of Requesting The
Right Information

Through an initial discussion with your new accountancy
firm, they should be in a position to request all the
relevant information from your existing accountant. They
will write directly to your existing accountant to collect
the documents. This is NOT something you need to do
yourself.

The types of information requested may include your latest
accounts, bank reconciliation statements, copies of the
last P35 and P11D, copies of VAT returns, payroll
documents, copies of the last annual return and so on.

4) Your Responsibilities

If your new accountants are providing services that your
previous accountant did not, then there may be information
within your own office that you need to pass on to your
accountants.

Your new accountants will be able to provide you with a
checklist of information you need to provide them to make
this step as straightforward as possible.

5) Resolving Or Dealing With Disputes

One of the reasons you may be changing accountants is
because you have a dispute with them over fees.

A dispute of this nature alone should not be a sufficient
reason for your existing accountant to refuse to hand over
information to your new accountant. They may, however,
advise your new accountant of the dispute.

In the normal course of things, such disputes should not
affect the transfer of information from one accountant to
another. If, however, problems do occur, then filing a
complaint - or threatening to file a complaint - with their
professional body usually helps to resolve matters.

6) What To Do If Your Existing Accountant Is No Longer
Trading or Out of Business

If your existing accountant has gone out of business, it
may still be possible to obtain the necessary paperwork and
information from them. However, in circumstances where this
is impossible, then your new accountant should still be
able to take over the account without any problems.

----------------------------------------------------
Jim Haines works for Just Accountants. UK businesses can
receive up to 4 quotes from qualified accountants just by
filling in one form. Visit http://www.justaccountants.co.uk
for details.

Understanding Investment Grade Insurance Contracts

Understanding Investment Grade Insurance Contracts
I am not sure but I think it was the best selling author
and successful financial strategist Douglas R. Andrew who
first coined the term, "Investment Grade Insurance
Contract". But what exactly is an investment grade
insurance contract and why should you care?

Insurance contracts in general are some of the most often
misunderstood financial vehicles on the planet and yet they
offer some opportunities that can not be found in any other
financial products. Why should you care? Because not
knowing about the unique advantages of an investment grade
insurance contract could cost you literally thousands of
dollars in missed opportunities. Let's take a look at some
of these opportunities and then we can break down for you
just what an investment grade insurance contract really is.

There are many financial vehicles that allow your money to
grow tax-deferred while you are trying to grow your nest
egg. And any financial advisor will tell you that
tax-deferred growth is an advantageous pursuit. Making
interest on your interest without having to split that
growth with Uncle Sam means that you will end up with a
much larger account than if you had to pay taxes along the
way. Even if you have to pay tax at the end when you pull
the money out you still end up way ahead of an investment
vehicle that offers no tax shelter. But what if you could
grow your money in a vehicle that was not only tax-deferred
but where you could pull your money out tax-free when ever
you need it. How much better off would you be? Well an IGIC
(Investment Grade Insurance Contract) can help you do
exactly that if you know how. But before we get into what
it is and how to set one up lets talk about another unique
advantage.

Recently, I met with a client of mine who is about to
retire and he expressed to me that he has been sheltering
his money in tax-deferred accounts like IRA's and 401(k)'s
his whole life and now that he is about to retire he was
worried about what happens to all of that money when he
passes away? After all he didn't squirrel all of that money
away just to leave it to his silent partner (The U.S.
Government). Well had he been saving that money in an IGIC
instead of in his government regulated retirement vehicles
he could have left the entire account to his children, his
grandchildren or whomever he chooses with no income taxes
due.

So far we talked about this IGIC offering tax-deferred
growth during the accumulation stage of your life and then
tax-free distributions during the distribution stage of
your life and then lastly we talked about how this plan can
be passed on to your children income tax-free in the wealth
transfer stage of your life but are these the only
benefits? Actually no. There are at least 3 other
advantages that I can think of.

The first other advantage in addition to the tax break is
that your money can grow without any stock market risk.
This makes for a very nice supplement to most government
regulated retirement plans like 401 (k)'s that are often
subject to sharp stock market losses. Yet even with this
protection in place the return on your money can also be
very competitive.

Another advantage of the IGIC is that the when set up
properly you have very liberal access to your money. If you
are currently using IRA's or 401(k)'s your money is
generally tied up until you are 591/2 except for certain
rare circumstances. And if you borrow out your funds
beware, stiff penalties apply if you don't pay the money
back on their terms and in their time frame. Often you are
forced to garnish your wages just to pay back a loan of
what is supposed to be your own money. None of these harsh
requirements are involved with an IGIC. Access to your
money is much more easily accomplished because the plan is
not a government regulated retirement vehicle.

The last advantage that I have room for in this article is
that if you were to pass away prematurely before retirement
the IGIC would provide an insurance benefit to your loved
ones that would always be much more valuable than the sum
of all your contributions. This last benefit helps you
begin to see just what an investment grade insurance
contract really is.

You now know most of the benefits of an IGIC but what is it
exactly and how do you set one up? An Investment Grade
Insurance Contract is simply a permanent life insurance
policy that has been set up in exactly the "opposite" way
that most insurance agents tend to set them up. The most
common way the typical life insurance agent goes about
setting up your plan is to first determine how much life
insurance you need. Then he or she tries to calculate, what
is the largest amount of insurance they can give you for
the smallest amount of money out of your pocket?

When a life insurance policy is structured using that
method a good portion of your premium dollars ends up going
back to the life insurance company in fees and insurance
charges. (See my article on life insurance fees and charges
to learn more) You will most likely be disappointed in the
growth of your cash value.

On the other hand there is an alternative way to structure
a life insurance plan that tends to go against the
conventional wisdom of trying to get as much death benefit
"bang for your buck" as possible. In this alternative
scenario the agent or advisor structures the plan to give
you the least amount of death benefit that the IRS requires
so that you can stuff your plan with the highest allowable
amount of cash that the law permits. Why would anyone want
less death benefit you ask? Because the lower the death
benefit in relation to your premium the less you pay in
insurance charges and the more cost effective your plan
becomes.

But you are probably wondering why go through all of that
trouble to calculate the correct proportions? How does that
benefit you? Well if you set this up correctly you get all
of the benefits mentioned above and a competitive return on
your money over the long haul.

Are there any disadvantages to IGIC's? Like any financial
vehicle there are always pros and cons. Some things to
consider are that you are not able to write off your
premium dollars like you do in an IRA or 401(k) plan.
Another problem is that if you are not in at least somewhat
decent health you may not qualify for this type of plan.
Also these plans are designed to work best over the long
term as they offer advantages in multiple stages of your
life. To get the full benefit from an IGIC you should be
looking to invest your money for the long term even though
you will have short term access. If you are looking for
high short term speculative gains this is not the program
for you.

Lastly there are lots of ways to set up these plans. You
can use many different types of life insurance as your
chasse. You can use Whole Life, Universal Life, Variable
Life, or Equity Indexed Life. But often times it is not the
product that is the biggest concern, it is instead finding
someone who truly understands how to structure these plans
correctly so as not to violate the current tax-code. Make
sure your advisor has been fully trained in understanding
IGIC's and has helped other people to set them up. For a
listing of quality financial advisors you might try doing a
Google search under "International Association of
Registered Financial Consultants" or "Found Money
Management". Advisors on both of these sites have been
through extensive training and should understand these
concepts in detail.

----------------------------------------------------
Antonio Filippone is a respected speaker on a wide range of
subjects. He has been published in the official journal of
the IARFC as well as interviewed on the Radio about his out
side the box financial strategies. Readers who are
interested in gaining more information on how to live debt
free and truly wealthy can request a complimentary copy of
Mr. Filippone's booklet by visiting his website at
http://www.tonyfilippone.com

Payday Loans

Payday Loans
A Guide to Payday Loans

Most all of us, regardless of how careful we may be with
our money, have found ourselves short on funds before our
next paycheck arrives. Often times, one medical emergency,
forgotten bill, or unexpected financial situation is all it
will take to completely drain any available savings,
leaving us vulnerable, unable to meet the rest of our
obligations, and quickly falling deeper into debt.

Fortunately for many, there is the option of payday loans,
which bridges the gap between paychecks, enabling one to
essentially borrow their own money before they normally
would have received it on their next payday. Most payday
loan lenders also do not check a person's credit report or
history during the approval process, which is beneficial
for those of us with either little or less than perfect
credit.

What Exactly is a Payday Loan?

Payday loans are short-term loans that, unlike those issued
by a traditional lender such as a bank, do not require
collateral, but instead use your next paycheck as a
guarantee for repayment. There are also those cash
advances, payday, or paycheck loans as they are sometimes
called, that are geared toward people with either no or bad
credit, making it possible to be approved for a small loan
that a bank, credit union, or other similar lender would
have otherwise denied.

The terms and conditions of payday loans will vary by
lender, but generally speaking, there are several different
criteria, such as meeting the minimum income requirements
or having a steady job, that must be met in order to be
approved. Borrowers must be at least 18, have a verifiable
form of steady employment, a valid bank account, and Social
Security number in the U.S. Most lenders will also require
that potential borrowers must have had the same job and
place of residence for a period of the past three months,
although others stipulate six months or more.

Of course, much like any type of loan, there are fees for
taking out a payday loan that should be fully understood
before you apply for approval to avoid any unpleasant
surprises. Interest and finance charges can often be
substantial, and are usually anywhere from 15 to 30 percent
on every hundred dollars borrowed.

Other important facts to know are the date the loan is due
to be completely repaid, and the amount and number of
payments. Although funds are usually debited
electronically, borrowers are usually required to write a
check, dated in advance for the full amount of the loan,
which will be cashed by the lender on the agreed upon
repayment date.

What are the Benefits of Payday Loans?

Some of the most attractive benefits of payday loans are
the ease of the application process and the time it takes
to actually receive the money. Thanks to advanced
technology, most all companies allow one to apply either
using the internet or the telephone, and learn if they've
been approved or denied in as little as 24 hours, most
usually within minutes. Notice can be sent through the
mail, email, or via the fax machine, which is helpful as
you'll want to keep a paper copy of the details of the loan
for your records.

Many lenders feature electronic transactions where the
funds are automatically transferred into the bank by the
end of the following business day. In fact, many companies
require that the borrower's bank account be capable of
electronic transactions in order for approval, as several
payday lenders require electronic repayment, which does
allow you to easily repay your loan without the need for
writing out another bill and sending a payment in twice a
month.

Extensions are another benefit of payday loans, which allow
you more time to repay the loan, although there may be
additional fees for the privilege. Extensions are usually
granted for two weeks, also the most common length of a pay
period, but some loans are for four weeks to begin with,
without the need for an extension, or the added fees.

If your credit history is less than desirable, another
bonus of payday loans is that there are no embarrassing
financial or personal questions to answer, as well as no
involved forms to complete. But, by making timely payments
and keeping your account in good standing, you'll
eventually be able to improve your credit in general, and
be able to borrow more money as you continue prove your
credit worthiness to lenders.

Using payday loans wisely and responsibly for paying bills,
taking care of emergencies, avoiding steep late fees, or
for keeping an important account in arrears will allow you
to protect your credit rating, and meet your financial
obligations should the need ever arise.

----------------------------------------------------
For more information please visit
http://www.paydayloans-online.co.uk/

The Fine Print on Long-Term Care Insurance

The Fine Print on Long-Term Care Insurance
The good news is - we're all living longer! The bad news is
- we're all living longer! As the price of everything goes
up, so does growing old. Fortunately we now have some
financial tools to help make the golden years more
comfortable emotionally, physically and financially. One
possible solution may be long-term care insurance (LTCI).
But don't jump on this premium bandwagon until you
understand what you're committing to. Like most insurance,
we don't really know how well it works until we really need
it. Here is some of the fine print to examine if you're
considering a long-term care insurance policy.

Long-term care is often considered an issue exclusively for
elders. Not so. Anyone who needs ongoing care because they
cannot independently perform the basic daily living
activities such as dressing, bathing, or eating due to an
injury, illness or even cognitive disorders may be a
candidate for long-term care. Affording long-term care is
something that concerns many of us and one way to deal with
the unpredictable long-term care costs may be long-term
care insurance (LTCI).

Hopefully you'll live a long and prosperous life and health
or money issues won't cloud your golden years. But, if you
want to be prepared, consider how to make long-term care
insurance work to your advantage. Don't count on Medicaid.
It does cover a bit of your long-term care expenses but
you've got to be dang near death or flat broke or a
combination of the two to qualify. Then there's your
friendly neighborhood HMOs, Medicare, and Medigap but guess
what. Right. They don't help much either.

Here are three things you can do to get over your anxiety
about this whole not-so-fun question of "How long will I
live and can I afford it if I do?"

1. Eat your dang vegetables! Your mother was right. They
are good for you and they keep you healthy. In other words,
clean up your lifestyle a bit and add a few more healthy
years to your life.

2. Make a ton of money. Yeah, yeah, yeah, your mother told
you to start saving early. If you did so and you've got
some financial plans in place, good for you. If not, it's
never too late to start with some basic planning and
investing.

3. Buy some long-term care insurance. We all hate paying
those premiums but the right kind of long-term care
insurance can be a lifesaver when the going gets tough.

Eat your veggies, make some money, and buy some long-term
care insurance. The first two are relatively easy; the last
one has a few complexities to be aware of. First of all,
get with an insurance agent you know and trust or ask a
friend or your accountant or lawyer for a referral. Here is
some of the even finer print to watch for when it gets down
to the nitty gritty of policy comparison:

1. Elimination Complication... Or, in the insurance
industry words, Elimination Period: This is the period of
time before your insurance policy will actually begin
paying out benefits. The typical options range between 20
and 100 days. This is also referred to as a waiting period.
Make sure and ask your agent to clarify what your
elimination period is and have him explain the cost/benefit
considerations of making it longer or shorter.

2. Time Crunch... Or, as the insurance industry puts it,
Duration of Benefits: The ceiling or limits placed on the
benefits a policy holder will receive. This may be limits
such as a set amount of money or a time limit of two years,
etc. Again, compare these benefits to your other financial
resources.

3. Daily Bread... Or, as the insurance industry feeds it to
you: Daily Benefit: This is the amount of coverage you
choose as your benefit on a daily basis. This typically
ranges from $50 to $350 per day. Another consideration may
be the cost of living in your specific locale. Health care
in a small town in Wisconsin may be less costly than
downtown San Diego. Your agent should be able to give you
some guidance on this.

4. Easy Rider... Or as our insurance friends call it,
Optional Inflation Rider: The term used to describe the
method of protection against inflation.

5. Done-Got-That-Bug Before Or, affectionately known as
Pre-existing Conditions and
we-aint-gonna-cover-your-tail-for-that-one-for-a-while
rule. The insurance provider will require a waiting period
(in some cases 6 or months or more) before full coverage
goes into effect on treatment for pre-existing conditions.
This varies from carrier to carrier.

6. Home on the Range... Or, our insurance folks refer to
this as Range of Care: In other words, coverage may vary
for different levels of care. Some care may be at a skilled
level, intermediate level, or a custodial level. The
facility itself has a range of care definition that your
agent will explain. The nursing home, assisted living
facility, and/or at home care are all levels of care that
come with a different price tag. Ask for clarification on
this.

7. Jacking Premiums... Or better known as Premium
Increases: Your policy will have terms in it that explain
if, how, and when your premiums will increase. Reality
check here. There is usually no "if" but there is almost
always a "when." Of course your costs will go up, just make
sure you know how much and if you have any options when
they do. Can you reduce the type of coverage you have if
your premiums increase or are you locked in? Ask your agent.

8. To Know me is to Renew me... Or more commonly referred
to as: Guaranteed Renewability: This is a policy agreement
in long-term care insurance policies that allows you to
renew it and maintain coverage even though you may have had
changes in your health.

9. Amazing Grace Period... Or in less poetic terms, Grace
Period for Late Payment: If you slip up and you're a little
late on your payment, this is how much time the company
will allow before they do something nasty like cancel your
policy. It is highly advised that you don't test just how
graceful your insurance carrier can be. They don't always
have the same sense of humor that this writer does.

10. No Debate Rebate... This is a fun one for a change,
Return of Premium: This is the little clause that says you
may get some of your money back if you haven't used your
policy for a certain number of years. Remember, we did say
"may get some of your money back."

11. Bed Pan Ally... Better known as Prior Hospitalization:
This is the clause that indicates whether or not you must
stay in a hospital before you qualify for long-term care
insurance benefits.

There's obviously a lot to know with this insurance game so
do your homework long before you need it. Make sure and
check with a financial planner, attorney or accountant to
get some guidance on this complicated topic. Not everyone
needs or qualifies for long-term care insurance so ask a
lot of questions and don't forget to eat your dang
vegetables!

----------------------------------------------------
Learn more about earning and growing your money with
Prentiss Group's U. R. the Bank program. It can provide
fixed rates of return of 7, 8, 9% interest or more by
utilizing home equity, low-performing CDs, or other
under-utilized assets to provide guaranteed income. Visit
http://www.guaranteemymoney.com or call 888-777-3805 for
info. Steve Dahl is a freelance writer in Carlsbad,
California. He can be reached through the website.

Are Business Credit Cards No Credit Check Applications For Real?

Are Business Credit Cards No Credit Check Applications For Real?
If you're like most business owners, you've probably
received more than one business credit cards no credit
check application. They promise you a high-limit credit
card for your business with no credit check involved. Are
these applications for real? Usually not. Here are some
things you need to watch out for.

First Things First

First and foremost you need to understand that no
legitimate credit card company is going to offer you or
your business a credit card without running a credit check.
The only exception to this rule is in the case of prepaid
or secured credit cards. If you want an unsecured business
credit card, a credit check will be needed regardless of
what the con artists want you to believe.

The Money Factor

One of the first things you need to look into when you
receive those business credit cards no credit check
applications is whether or not the company sending the
application is asking for any up-front money. If a credit
card company asks you to send in money before they issue a
card, it's a scam.

The only exception to this rule is in the case of secured
credit cards, where a deposit is necessary in order to
secure your line of credit. Legitimate credit card
companies will not expect up-front payments for application
or processing fees. If fees are charged, they'll be charged
to the credit card account once the card is issued to you.

Weighing Your Options

If you are looking to establish credit for your business,
don't fall for those business credit cards no credit check
applications. Instead, look into obtaining a secured
business credit card to meet your business's credit needs.
You will have to provide an initial deposit (usually a $300
minimum) but it's a great way to build the credit your
business requires.

The good news is that secured credit cards can lead to
unsecured credit cards. They're the means to an end, not
the end itself. If you pay your secured business credit
card on time each and every month, eventually your business
will be able to qualify for an unsecured credit card and
the credit check won't matter.

Credit cards are basically an unsecured line of credit, and
no lender in their right mind would issue you one without
knowing what your business's credit history or your
personal credit look like. If you're serious about the
financial well-being of your business and building a solid
business credit history, put those business credit cards no
credit check applications where they belong -- in the
garbage.

----------------------------------------------------
For more tips on business credit cards, saving money and
avoiding getting taken, check out the student credit card
section at CreditCardTipsEtc.com, a website that
specializes in providing credit card tips, advice and
resources.
http://www.creditcardtipsetc.com/business_credit_cards