Credit Tips

A Good Credit Score Is The Need Of The Hour

Wonder what the future has in store for you? If you have, then you might be aware that monetary needs are one thing that goes hand in hand with unexpected future events. One slight misjudgment can lead to having a bad credit score with us depending on unplanned expenditures and improper management of money.

Reasons why Credit repairing is important

This is something you don’t want to face and it is associated with many problems like

Issues in sanctioning of loan in times of need

Renting an apartment

Tampering with your employment.

Even the mobile operators check your credit score nowadays in some places.

Steps to avoid Bad credit Score

Some basic steps taken by you at the preliminary level can help you avoid a bad credit score:

1. Keep a check on your payments

2. Keep yourself organized with your payment deadlines

3. Researching the marketplace before making a purchasing decision

4. Make sure that all your costs are in the open while for a load or anything

Credit Repairing Service Providers

To avoid you from getting stuck in this bad Credit web you need to optimize your credit scores. This requires some expertise which is provided by the Credit repairing service providers. They provide you with tutorials which will give you an insight about the proper management of your credit score.

These Credit service repairs have proven to be effective and worth looking at rather than having a bad credit. Tutorials will also provide you with some rules and regulations related to the credits and give you in upper hand for the future. This is so to maintain a good credit for possible prospective landlords, insurers, etc. These help you with the technical part of your credit repairing. The common sense factor will develop somewhat based on your research about crediting as well as your crediting pattern.

They also provide you with consultations regarding smart investment and crediting and cuts your work on researching the rules and laws of crediting right for your needs. The consultation also involves a thorough assessment of your credits and find the problems which are harming your score and as a solution tips and tricks are provided to enhance it.

They make it their job to give you the best in class consultation and services to prevent your score from damaging and save you from money troubles when the need arises in the future.

Smart management is the way to living a peaceful life and credit repairing services provide you with it.

Even if your credit scores are bad, don’t worry, you may get government help in terms of loans for your startups, loans for single parents, etc. They often provide loans to special people with 0% interest or very less interest if their ideas are able convince the government.

Finally, it is always better to be aware and ready rather than being helpless and dependent at the time of crisis. Rightly said by someone, Prevention is better than cure.

“A wise decision would be to organize and plan your credits effectively.”


Teaching Your Kids Good Money Management

Although the piggy bank is the first thing that springs to mind when we think about teaching kids money management skills, the reality is that these days, the money box should just be the first step in the process.

Teaching kids how to budget

One of the easiest and fastest ways to teach your kids the basics of budgeting is to set up the ‘three jar’ system. When they get their pocket money it gets divided up into three jars – one is for spending, one is for giving away to charity and one is for saving. Basically, you’re setting them up with a mini version of your budgeting system. They get to decide how much to dedicate to each jar and you need to give them the chance to do some extra jobs to earn some additional ‘savings’ income.

Teaching kids to set goals

A great way to start teaching kids about setting goals is to have them save up for something they want to buy. Whether it’s a PSP, a new bike, a computer, an iPod or a new toy, get them to set a goal and start saving toward it. If you want to help them along the way, set up a ‘dollar for dollar’ system, where you’ll match what they save, but let them do the hard work and take responsibility for getting enough cash together to reach their goal. This technique instills a great sense of pride in a kid and also helps to stop some of the nagging that instantly buying them whatever they want can encourage.

Teaching kids to be self-reliant

The second part of teaching your kids to achieve goals is to stop telling them that they can’t have stuff because ‘we can’t afford it’. This mindset will teach kids to simply give up or put things on credit, rather than teaching them the importance of working out how they can afford something. Next time your kids ask you for something that’s beyond the budget, explain that buying it is not an option today and that they need to work out how they could go about being able to earn the cash to buy it. Giving them the chance to work out that you can’t always have everything you want straight away is an important step in creating good money management habits, and if you back it up with helping them to figure out how to earn the money and save until they reach their goal, you’ll be giving them strategies that will last a lifetime.

Teaching kids by being a good role model

We learn the vast majority of our money management habits from our parents. Have a think about what your kids are learning from you on a daily basis. Are they seeing you behave impulsively or responsibly? Are they watching you work toward your own goals or seeing you simply put everything on credit? Are you showing them how to be socially responsible by donating to charitable organisations or doing volunteer work if your budget won’t stretch to cover donations? Are your kids aware of the family’s financial situation or do they think that an endless supply of money just pops out of the ATM whenever you need it?

People often say that their kids are too young to learn about money management, but the truth is that if they can count they’re old enough to start being taught the basics. If you wait until they’re ready to leave home to start teaching them the importance of good money management then chances are it’ll be too late and they’ll end up having to learn their financial lessons the hard way. Give them the best start in life by teaching them simple lessons the easy way, right from the start.


Good News For First Time Home Buyers – Orange County is Now More Affordable!

According to the California Association of Realtors, the First-time Buyers Housing Affordability Index for California stood at 67 percent in the second quarter of 2009 compared with 49 percent (revised) in the second quarter of 2008. For California condos, that number is 70 percent. For the County of Orange, it is 53 percent.

So what does this mean? The higher the percentage, the more affordable it is for a home buyer to purchase a home. What these numbers are telling us is that 67 percent of households in California can now afford to purchase a home. And for Orange County, 53 percent of households are able to purchase an entry-level home.

The second quarter of 2009 brought in the following stats:

  • The median price of an entry-level home in California was $ 224,180;
  • The estimated monthly payment, including tax and insurance, was $ 1330. This assumes a 10 percent down payment and an interest rate of 4.92 percent; if your terms are different, the payment will vary;
  • The minimum household income needed to purchase an entry-level home in this price range was $ 39,930

What is interesting to note is that the minimum qualifying income was lower than last year when it was reported that a person needed a household income of $ 60,460 to qualify for a loan on an entry-level home. Interest rates are still low, as they were last year; however, with the decrease in home prices in Orange County overall, first time homebuyers are still able to buy a home now at good terms and great prices. The median income for the State of California is $ 61,030.

You may be wondering how this relates to Aliso Viejo Homes, Laguna Niguel Homes and Dana Point Homes. These are the areas that we have seen a lot of activity in first time home sales with people buying a home, getting great deals. For the beginning of November, 2009 there are 23 homes actively listed for sale in these cities with a maximum price of $ 225,000. Most of these are condos; however, there are a couple of single family residences as well.

This is incredible!

Add to this the just announced extension of the tax credit and you should start to wonder why you are waiting to buy a home in Orange County! First time homebuyers and investors alike should be able to see some interesting opportunities.


Hiring Former IRS Agents to Solve Tax Debt Problems – Good Or Bad?

Many tax relief companies brag about their staff chock full of former IRS agents.  At first glance, the concept seems good. Let’s examine the reasons people assume former IRS agents would be helpful and then determine if they carry any real value for a person with tax debt problems.

Former IRS agents have an “inside connection”

The implication of “knowing someone inside” is a hoax. The IRS has over 150,000 employees, no one has an “inside connection” with 150,000 people. If you call the IRS 10 times, you’ll get 10 different people in 10 different States. If someone did have an “inside connection” the IRS has a built in checking system to stop all special deals.

Former IRS Agents have a “special knowledge” or “know the system”

Everyday our lawyers tell IRS agents how their own system works. Everyday we make them look in their own books to follow the laws Congress has laid before them. Everyday IRS agents make up the rules as they go, until we catch them and force them to follow the real rules. This happens everyday. Retiring from the IRS doesn’t suddenly wake up agents up to the law. Recently, an agent told us she does not accept faxes. Well we’ve been sending faxes for ten years, much to her dismay. Finally, we got her boss to help her “find” the fax machine. She had only been working there for 17 years, how could she be expected to know where the fax was or to walk the 12 steps to it. The scary news; three years from now she can promote herself as the taxpayers good buddy.

Former IRS Agents are sensitive to your problem

I can assure you that after working for the IRS they have become insensitive to you not only as a client but also as a human being. The IRS taught them to refer to you as “the taxpayer” or a “taxpaying entity”. IRS employees hold delinquent taxpayers in contempt for 20 years, that doesn’t change when the early retirement starts and the Enrolled Agent sign goes up. When was the last time you spoke to a bureaucrat who cared? Do you think a sensitive person could seize your paycheck and bank account and then auction your home after leaving you penniless?

The Story of One Former IRS Agent Company:

The JK Harris website states that they are the “Nation’s largest tax representation firm, comprised of veteran ex-IRS agents.” The following excerpts from a June 2008 article by the Boston Globe are quite enlightening:

“A Charleston firm that claimed to offer people help settling their tax debt has agreed to pay $1.5 million in restitution under a settlement with attorneys general in 18 states, officials announced Thursday. Attorney General Martha Coakley of Massachusetts and 17 other state attorneys general entered into a consent judgment with JK Harris.

Attorney General Coakley stated:

“This company took advantage of people who paid for tax assistance and, in some instances, profited by taking their money and not giving them any help at all,”

“Taking their money and not giving them any help at all” – that sounds like a typical government job to me and if you worked as an IRS employee, that sounds like another day at the office.


GST: Good for Taxpayers, Bad For Government?

GST Rises

Many might be unaware, but the idea of implementing GST in India was introduced under the leadership of the Late Shri Atal Bihari Vajpayee. He appointed an Empowered Committee(EC) in the year 2000, and the committee was tasked with drafting the GST laws. Their and several other’s efforts combined finally came to fruition in the year 2017 with the adoption of the Good and Services Tax(GST) Act, 2017. Following the 1st of July, 2017, GST has been in full operation and it seems to have restored order to the taxation system in India.

GST is basically an indirect tax replacing most of the indirect taxes that are levied in various stages of production of goods and services. In this way, GST becomes an indirect tax for the whole country. GST basically aims at removing the cascading effect of taxes. Cascading effect is basically the additions and accumulation of taxes at each level of production of a good/service.

GST Revenue and Surrounding issues

The government has gone as far as to say that there has been a voluntary compliance and great response to GST after it’s initial stages leading to a rise in the tax base from 60 lakh Crores to 1.10 crore Crore rupees. This sounds great for the government but only on paper. The tax base increase can be accredited to the inclusion of many sectors in GST who were previously excluded.GST integration and application has surely helped taxpayers with filing their taxes and smoother compliances.

Present numbers, however, paint a picture of grim reality and realization for the government. The government had offered to provide compensation for 5 years because of the losses incurred by state government due to the implementation of GST, a good move by the central Government helping state governments consolidate the law till the grass root levels.

However, recent realizations and evaluations have left the Central government dissatisfied with the low revenue figures of the GST regime. The bi-monthly compensation for the months of June and July 2018, rose to as much as 3.8 times of that for the months of March and April 2018. the central government is also constantly falling short of their set target of 1lakh crore. The government, however, present a strong front and claim that they have eliminated implementation errors and are also “better equipped to deal with defaulters” which sounds like a hollow statement considering current events. In this regard, the Central Government is formulating strategies and hoping state governments will help identify flaws within the current system.


The PTI(Press Trust of India) also was told by a high-ranking official that the government needs to devise a strategy to shore up the GST revenue. The source also bemoans at a lack of a set pattern for paying the compensation to individual states.

The government, however, isn’t just sitting quietly and watch as they fail to gather appropriate revenue. GST Return is set to undergo radical changes in the coming times.

Here are some of the reforms government are planning:

· Deploying anti-invasion measures with a focus on top 30 taxpayers. Data Analytics will be used to profile top 30 taxpayers and look at their tax payments before and after the implementation of GST

· Assuring businesses of all kinds that they would try to put a curb on being intrusive with businesses

· Reforming the current 5 slabs of GST to cut down slabs to just two.


Why Are Payroll Management Services A Good Thing For Your Company?

Employees are a company's asset. And a breach of their trust is what can cost a company severely. It is thus of utmost importance to have an efficient payroll service that goes beyond the conventional writing of checks for the employees and have grown to include intricate accounting services that are crucial for the smooth running of the company. It is also pivotal in aligning the company with the various legislative rules that are necessary to abide by. Payroll management services ensure that the terms and conditions of salaries remain transparent and this in turn adds to the credibility as well as reputation of the company.

Let us now look at some of the basic added benefits that you can consider before taking the final leap in appointing a payroll service.

Cost Efficiency
Processing payroll can prove to be quite expensive. However, with the help of professional payroll service providers, the cost gets greatly reduced. Organizations sometimes allot bookkeepers and accountants to manage the payroll of the employees and their individual salaries are often considerably higher than the cost you might incur if you appoint a payroll management team. Payroll management services not only handle all the necessary paperwork for the employee's salaries seamlessly but also reduce the risk of marginal mistakes that can lead to an unhealthy confusion between the employer and employee.

Error Reduction
Continuing from the aforementioned point, error reduction plays a great role in making sure that the payslip that is presented to the employee is compact and comprises of all the necessary tax deductions, the total number of hours worked and the numerous costs incurred by clients and customers alike. Outsourcing payroll services eliminates the possibilities of errors which can be very likely while managing a company and also promptly detects minor missteps in calculations, giving them the highest priority.

Increased Tax Savings
Managing the business as well as making sure that all the deadlines associated with tax are met, ensuring that the employees as well as the company are not subjected to any penalties is a tough task. This is where a payroll service provider comes in as they are known to be well acquainted with the legislative rules, amendments and the current tax slabs. They ensure a timely deliverance of salaries and also see to it that the financial limitations that are imposed on a company are adequately met.

Advanced Technology
Payroll management services use some of the most advanced technology to manage every aspect of the accounting system. Utmost care is taken so as to not let the highly confidential and personalized paperwork of the company be compromised. It might so happen that the payroll is externally influenced leading to great losses within the company. Payroll services do away with those probabilities and exercises an authorized control system over the management of the company.

With its automated system to manage efficiently, such services also allow companies to re-allocate resources that solely concentrate on the workings of the company without having to keep a track of the complex payroll system. It thus is simply mandatory to employ a Payroll Service Provider of repute to ensure that a company's stability is maintained and that which also guarantees a favourable experience for its employees.


Car Insurance Costs Are Cut, But It’s Not Good News for Everyone

The seemingly never-ending rise in car insurance prices could be coming to a screeching stop thanks to proposed government changes.

New proposals will see a huge U-turn on the rate at which payouts for victims of serious accidents is calculated which is known as the Ogden rate.

The Ogden rate is set to be changed as soon as next year in a bid to provide a “fairer” system.

How does the Ogden rate work?

Set by the government, the Ogden rate is the amount awarded to victims with life-changing injuries after an accident.

The rate had been set at 2.5% which meant that for every £1,000 awarded to a victim in a claim, the insurer would pay out £975 – with the other 2.5% or the Ogden rate expected to be earned by the claimant through investment interest. This would then give them the full pay out they were due.

In March 2017, the rate was cut to -0.75% or in a monetary sense, insurers would now have to pay victims £1,007.50 per £1,000 payment.

It was this increase in pay outs that helped cause car insurance prices to hit record highs* in the last 12 months.

What’s the latest Ogden rate change?

While a specific date hasn’t been announced, the Ministry of Justice have confirmed that they are revising the rules and it’s expected that the Ogden rate will be put at 1% from next year.

The changes have been welcomed by insurers as it will reduce the amount they are forced to pay.

Huw Evans of the Association of British Insurers commented on the proposed changes:

“This is a welcome reform proposal to deliver a personal injury discount rate that is fairer for claimants, customers and taxpayers alike.”

“If implemented it will help relieve some of the cost pressures on motor and liability insurance in a way that can only benefit customers.”

What do these changes mean for drivers?

The last time rates changed it meant an increase in car insurance premiums as insurers passed on the extra costs to drivers.

Now with pay-outs to victims expect to drop, it only makes sense that the savings will be passed on to drivers by reducing the overall cost of their cover.

Changes are not expected to come into effect until next year so it may be some time before these savings can actually be seen on the price of annual insurance.

How will it affect accident victims?

While it’s potentially good news drivers, victims of serious accidents who are left with life changing injuries could be short changed.

Instead of receiving the full amount of the awarded pay-out, victims will now once again be expected to invest their money for profit.

While the assumption is that these people will be able to make up the difference comfortably, many have commentated on the unfairness of the new rate.

Speaking to The Mirror, President of the Association of Personal Injury Lawyers, Brett Dixon said:

“Someone with a life-long, life-changing injury such as brain damage or a spinal injury cannot afford to take any risks with how his compensation is invested,”

“The last thing people with devastating injuries think about when they are lying in a hospital is their insurance premiums. They think about how they are going to manage. Insurers say an increased discount rate will benefit customers through their premiums. It is of no benefit if they are severely injured and forced to take risks with the compensation they so desperately need.”

4 ways to reduce the cost of your car insurance

While you wait for rate changes to bring the cost of you cover down, there are a number of ways you can save yourself money right now.

Reduce your risk

While there are some details you can’t change, there are a few things you can do to reduce the risk you pose. Something as simple as changing your job title from an office manager to an office administrator could save you money.

You also need to consider the vehicle you’re driving. When choosing a car, you should try and get one that’s safer, slower and less eye-catching.

Increase your excess

Increasing the amount you’re willing to pay if you have an accident will reduce the price of your premium. This is a great way to reduce the overall cost but remember you should never agree to an excess that you can’t afford to pay.

Make sure your car is secure

Whether it’s adding an immobiliser to your car or locking it away in a garage overnight, increasing your vehicles security will make it less attractive to thieves and cut the cost of your cover.

Make sure you let your insurer know about your improved security as some providers will offer discounts even before you renew.

Only pay for the cover you need

If you’re only borrowing a car or just need to drive for a few days, an annual insurance policy could be a huge waste of money.

A temporary policy offers the same level of cover and financial protection as yearly insurance at a fraction of the price.

You get the cover you want without having to pay for insurance you don’t need. You can get a range of quotes in minutes and compare prices to save time and money.


Cheap Full Coverage Auto Insurance Guide: Learn About Different Options and Where to Find Good Rates

No matter which state you live in, you’ll be required by law to have at least some sort of auto insurance. The basic requirements vary from one state to the next, but essentially you’ll need enough coverage to help pay for any damage or injuries you might cause others. What if it really isn’t your fault, though? What if you wind up in the hospital yourself? Or what if you don’t have enough money to pay for having your own vehicle repaired? The best thing to do is try to find cheap full coverage auto insurance.

Check out different quotes to see how you can get a deal on comprehensive and collision insurance. There are many sites that allow you to look over various policies. You’ll likely have to enter in some personal details, like your age, state, car model and make, and how long you’ve had it. There are obviously going to be some factors that affect the types of rates you get, from your driving record to your credit rating. The higher “risk” that you are, the higher the rates you’ll get.

Try to find coupons and special discounts wherever and whenever you can. Auto insurance discounts usually come in three types: ones based on your policy, for car safety features, and for being a good driver with a clean record. The rates tend to be higher for younger drivers, as they are considered higher risk when compared to older, more experienced drivers.

Adult Drivers Can Get Cheap Full Coverage Auto Insurance

However, even if you are an adult driver who’s had your license for years, you still might have difficulty obtaining cheap full coverage auto insurance if your record isn’t the cleanest. Carefully look over the “Discounts” page of a car insurance company’s site to see if there is any type of savings you might qualify for.

There is no rule that says you have to get vehicle insurance by one of the major companies. There are many small companies throughout the country that offer decent rates. With the smaller providers, you can get a more personalized experience as well.

Think about your own limits and deductibles. If you are financially comfortable, then it’s probably okay to opt for a higher collision / comprehensive deductible. Raising the deductible obviously means that you’ll get cheaper insurance, whether you pay for it monthly or annually.

It goes without saying that you should ALWAYS read reviews and comments about different insurers when comparing rates. One place that’s been getting plenty of reviews these days is esurance. There are tons of cheap full coverage auto insurance esurance discounts that you might quality for.

Wealth Building

Revocable Trusts: A Good Idea?

What is a living or revocable trust?

A trust is a legal way of holding, managing, and distributing property. Every trust must have four elements: (1) a creator of the trust, called the "trustor" or the "grantor" (2) assets, also called the "corpus" (3) a person who holds, manages, and distributes the assets, called the "trustee" and (4) a "beneficiary," the person for whose benefit the trust is created. A living trust is revocable. In most revocable trusts, the trustor, trustee, and beneficiary are all the same person.

Who does not need a trust?

There are some people who will not benefit from a living or revocable trust. Those who are married without significant assets and without children who intend to leave their assets to each other, for one. Any other persons who do not have significant assets and have very simple estate plans also do not need a living trust. Finally, anyone who wants court supervision over the administration of his or her estate should not have a living trust. (The assets remain in the trust, there is no "estate.") Probate can often be avoided without using a living trust, by setting up "payable on death" accounts, making beneficiary designations, holding assets jointly, etc.

Why do people create trusts?

By creating a revocable trust, people can avoid probate. Also, these trusts avoid conservatorships because if you become disabled, a trustee is already in place to manage your assets for you. And, you won't have to deal with lawyers and courts. However, revocable trusts can be and are contested, just like a will. And, administering a trust after your death is not cost-free. Even if probate is avoided, the successor trustee will seek help from a lawyer to make sure the debts are paid, all of the necessary tax forms filed, and the assets are properly distributed to your beneficiaries.

What are some misconceptions about these trusts?

Living trusts always avoid probate. After death, the revocable trust will not cut off the claims of creditors against the trust assets. So, many times the successor trustee will open a probate estate anyway to require the creditors to file claims within the time required by law or be barred from collecting claims against the estate.

Living trusts save state and federal estate taxes. Yes, but there are other taxes.

Living trusts can manage your property if you become disabled. That's true, but a durable power of attorney is a much less expensive and easier alternative.

Who should have a revocable trust?

People who own property in another state. (Real estate is probated where the property is located. If you live on a farm in Pennsylvania and also have a vacation condo in Arizona, you'll have two probates. A trust avoids this because the property is part of the trust and there is no estate to probate. The trustee administers the trust, including both properties.)

Persons who are concerned that they might become disabled and that, as a result, will be subject to undue influence.

Beneficiaries of the estate are disabled.

People live or spend a significant amount of time in a state where probate is time-consuming, burdensome, and costly.


Motorcycle Riders – Protect Your Head With a Good Quality Helmet

As a motorcycle rider, no doubt you are already aware that the safety of you and your bike is paramount. Thus, you conduct regular check-ups and maintenance on your bike, exercise vigilance when out riding, have the security of comprehensive motorbike insurance coverage and wear appropriate protective gear. Most important of all when it comes to protective gear is of course a good quality helmet, which will protect you against potential head injuries as well as shield your head and face from the wind, cold, insects and flying objects.

By law, wearing a helmet is required, but for your own protection it is not enough to wear just any old helmet. Accidents are a very real possibility no matter how safely and sensibly you ride, as demonstrated by Department for Transportation statistics showing 21,550 reported motorcycle casualties in 2008, and in the event of an accident your helmet could be the difference between life and death. As such, it is crucial that you outfit yourself with a regulation helmet that is in good condition and fits properly.

For maximum protection against severe head or facial injuries, and to ensure your motorcycle insurance is not invalidated, your helmet should meet the acceptable standards. This means a helmet that carries a BSI kitemark indicating compliance with British Standard BS 6658: 1985, a UN E mark indicating compliance with UNECE Regulation 22.05 or a mark indicating compliance with a standard set by other European Economic Area countries that has the protection equivalence of BS 6658: 1985.

A regulation good quality helmet will be made with glass fiber, Kevlar or polycarbonate, and any of them are acceptable. Glass fiber helmets are heavier and last longer than polycarbonate helmets, while Kevlar helmets provide a combination of tough strength and light weight. To help choose the kind that is right for you, try on various brands and models to determine which fits best and is most comfortable. Full-face helmets are recommended since they protect the face as well as head, although riders who feel hemmed in by full-face helmets can opt to wear open-face ones with goggles, bearing in mind though that in an accident the face and chin will be unprotected.

In addition to reducing the severity of head and facial injuries, a good quality helmet can also help reduce the risk of accidents in the first place by cutting down on distractions. If the helmet is good quality it is likely to fit better and more comfortably than a poor quality helmet, which is important since an ill-fitting helmet is not going to provide adequate protection in the event of a crash, and an uncomfortable helmet will ruin the enjoyment of your ride and affect your concentration. The padding inside a good quality helmet will help to block out wind noises as you ride, cutting down on that distraction, and if it is a full-face helmet you will have the added advantage of keeping other distractions such as the wind and bugs from blowing in your face.

Avoid using second-hand helmets or helmets that have already sustained a knock, since there is little point in taking the precaution of wearing a good quality helmet if it is in less than top condition. Also, never use a bicycle helmet as a substitute for a motorcycle helmet.

In short, do not skimp when it comes to your safety and protection. When you invest the money in a good quality helmet, you can do so knowing that it has undergone rigorous safety tests to ensure it offers maximum protection, unlike cheaper helmets that likely have not met the same level of safety test standards. You can then ride your bike with the assurance that you have safeguarded yourself with the best protection possible.