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Professional Corporations – Advantages and Disadvantages

What is a professional corporation (PC)?

A PC is a corporation owned and operated by one or more members of the same profession (eg doctors, lawyers, accountants, dentists). The services provided by the corporation are generally restricted to the practice of the profession.

Professional corporations are now allowed in every province and territory across Canada. In each province / territory, the professional regulatory body usually determines whether its members may incorporate. For example, the regulatory body for physicians, in all provinces and territories, allows doctors to incorporate.

How does it differ from a common corporation?

There are some significant differences between a professional corporation and a common

Corporation such as:

  • Only members of the same profession can be shareholders of a professional corporation in many (but not all) provinces.
  • The officers and directors of a professional corporation must generally beholders of the corporation as well.
  • The professional corporation is generally subject to the investigative and regulatory powers of the regulatory body governing the profession.
  • A professional corporation will not protect a professional against personal liability for professional negligence.

As a result of these differences, some of the benefits commonly associated with a corporation may have a limited application for a professional corporation. This is further described below

Advantages of using a Professional Corporation

Potential tax savings

A reduced federal and provincial corporate tax rate is applied on the first $ 400,000 of professional income earned by a professional corporation. Some provinces apply the reduced tax rate on income of up to $ 500,000. The provincial limit variances by province. For 2010, the combined federal and provincial tax on income subject to the small business limit will range between approximately 11{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} and 19{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}. As a result of this lower rate, the combined corporate and shareholder taxes paid on professional services income is slightly lower than if such income were to be earned by you directly.

Potential tax deferral

Perhaps the most significant advantage of using a PC is the ability to defer taxes. Professional income earned through a corporation is taxed at two levels – once at the corporate level and then again at the shareholder level when the profits are distributed to you as dividend income.

Since income at the corporate level is taxed at a lower rate than your personal income, a tax deferral opportunity exists when the income is taxed in the corporation (at the lower rate) and is not distributed to the shareholder (ie you). The deferral ceases when a dividend is paid to you and you pay the tax on that divide.

Let's illustrate. If you earn a professional income of $ 500,000 per year as a sole proprietor and only need $ 200,000 of pre-tax income for personal expenses, you will be left with $ 300,000 that will be taxed at the highest marginal rate. Assuming a marginal tax rate of 47{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc}, you will be left with $ 159,000 to invest.

On the other hand, if you incorporate the practice, the $ 300,000 will be …

How to Start Your Own Trenching Service Business

You can be in business for yourself, and be your own boss, if you start your own trenching business service, and work for yourself. Trenching, is basically like digging a long thing hole, maybe 10 inches wide, and 2 feet deep, for 100 yards. That would be a big job, to complete with a shovel.

A trenching machine, is like a big chain saw, a trenching machine digs up the ground to a certain depth, and certain width. Most notable, trenching would be needed for constructing of footings, irrigation lines, cable lines, pipes, underground utilities, water lines, gas lines, pool lines, and more.

Some do it yourself home owners, like to put in their own sprinkler systems. But, when they learn they have to put the lines all underground, it would take forever to use a shovel, and do it by hand. It would be an almost impossible task, so it needs to be trenched. That’s where you come in, and make money with your trenching service. You can offer trenching by the foot, or by the job. You can network with other landscapers, stump grinders, tree cutters, gardeners, tractor service operators, bobcat operators, dump truck drivers, nursery outlets, and more.

You should have a sign on your vehicle, saying the name of your business, and how they can get a hold of you for work. Some trenching machines can be put in the back of a pickup truck or pulled on a trailer. You can also rent a trenching machine from a local equipment rental dealer, until you can get your own.…

Attract Money With Runes and Laws of Quantum Physics

Rune Meditations FA for Wealth/Prosperity

For the first time you can now combine the Ancient Wisdom of the Runes with the power of Quantum Physics to attract wealth.

I believe in the power of the Universal Creative Energies called the RUNES. The power of the Law of Attraction. The Law of Three. The Law of Resonant Frequencies. All laws you can now use to recreate your life the way you want it.

All these laws are now fully explained in the modern day language, called Quantum Physics. Our ancestors and the modern day metaphyscians called these working laws The Mind of God.

By consciously using these laws we can change our destiny, and our lives, to include more abundance, health and happiness.

Runic energies are the most powerful way to do this.

I am sharing with you my 25 years of rune work. I will use the modern languages of energy and Quantum Physics.

Runes, Rune-Meditations, Rune-Magic, Rune-Yoga are all part of the great truth of Creation.

RUNE-MAGIC-MEDITATION-FOR-WEALTH

You will notice that there is a great similarity between this meditation and the meditation for health. I am a firm believer in repetition. The more you see something, the sooner you will grasp it

What you about to read, about runic energies, you won’t find on any where else. This is the first time RUNES are presented from a strictly energy point of view.

To practice this runic breathing exercise you do not need any ritualistic paraphernalia. All you will need is to print out the oversized rune you will find at the this lesson.

It is best to print it out on hard card stock, it will last longer.

For this runic breathing exercise we will use RUNE-FA . The Rune of mobile wealth.

To begin, sit comfortably in your favorite chair. It is best if possible to use the same chair everyday for your runic meditations. In this way the chair will become imbued and charged with runic energies. After awhile, just sitting in the chair will bring you the feeling of peace and calm.

Relax, do not strain. Breathe slowly and deeply Do not be concerned if you are doing it right or wrong. Do not be concerned if you are pleasing or displeasing a god/goddess. It is not a ritual. It is about attracting rune energies.

It is your personal rune-meditation-for-wealth breathing exercise. It is energy and vibrations.

Where you place your attention your energy flows. You actually touch what you think about, and it will touch you back. When you place your attention on the runes in the Quantum Ocean their energies will flow towards you. You are performing an energy transfer.

RUNE MEDITATION FA WEALTH

The runic wealth energy that you are about to attract has to have a specific target, a specific place to flow to. You will now prepare yourself to mentally receive these energies into your personal energy field (AURA.)

Once your personal energy field is charged with this runic energy then …

Global Financing – Hard and Soft Currency

Global financing and exchange rates are major topics when considering a venturing business abroad. In the proceeding I will explain in detail what hard and soft contexts are. I will then go into detail explaining the reasoning for the fluctuating treaties. Finally I will explain hard and soft contracts importance in managing risks.

Hard currency

Hard currency is usually from a highly industrialized country that is widely accepted around the world as a form of payment for goods and services. A hard currency is expected to remain reliably stable through a short period of time, and to be highly liquid in the forex market. Another criterion for a hard currency is that the currency must come from a politically and economically stable country. The US dollar and the British pound are good examples of hard courses (Investopedia, 2008). Hard currency basically means that the currency is strong. The terms strong and weak, rising and falling, strengthening and weakening are relative terms in the world of foreign exchange (sometimes referred to as "forex"). Rising and falling, strengthening and weakening all indicate a relative change in position from a previous level. When the dollar is "strengthening," its value is rising in relation to one or more other treaties. A strong dollar will buy more units of a foreign currency than previously. One result of a stronger dollar is that the prices of foreign goods and services drop for US consumers. This may allow Americans to take the long-postponed vacation to another country, or buy a foreign car that used to be too expensive. US consumers' benefit from a strong dollar, but US exporters is hurt. A strong dollar means that it takes more of a foreign currency to buy US dollars. US goods and services become more expensive for foreign consumers who, as a result, tend to buy fewer US products. Because it takes more than a foreign currency to purchase strong dollars, products priced in dollars are more expensive when sold overseas (chicagofed, 2008).

Soft currency

Soft currency is another name for "weak currency". The values ​​of soft currencies fluctuate often, and other countries do not want to hold these currencies due to political or economic uncertainty within the country with the soft currency. Currencies from most developing countries are considered to be soft treaties. Often, governments from these developing countries will set unrealistically high exchange rates, pegging their currency to a currency such as the US dollar (invest words, 2008). Soft currency breaks down to the currency being very weak, an example of this would be the Mexican peso. A weak dollar also hurts some people and benefits others. When the value of the dollar falls or weakens in relation to another currency, prices of goods and services from that country rise for US consumers. It takes more dollars to purchase the same amount of foreign currency to buy goods and services. That means US consumers and US companies that import products have reduced purchasing power. At the same time, …

Types of Jobs That Use Microsoft Excel

Are you considering learning how to use Excel more effectively? Many people use Excel in their day to day jobs, and they’re not necessarily accounting or finance professionals. Excel is a robust spreadsheet platform that allows you to track and store a variety of data effectively. This article will outline some of the traditional and non-traditional career paths that can make good use of skills with Excel. Once you have finished reading this piece you should have a much clearer view of how Excel might be useful in different areas of the business world.

Accounting

As a spreadsheet application, Excel was originally intended to duplicate the large paper spreadsheets that have been used by accounting professionals for over one hundred years. Accountants are responsible for tracking and categorizing all of the individual transactions that make up the day to day operation of a business. Excel is a great tool for this because it allows them to track the details of the transaction, monitor the performance versus expectations and goals, and provide customized and useful reports on almost any aspect of the accounting of a business.

Finance

Closely related to accounting, finance professionals conduct a wide variety of modeling and analysis of a company’s performance. Finance might use complex statistical analysis to predict future performance of a firm or find correlations between certain events and the resulting impact on performance. Finance is also used to study the proper capital structure of a company. All of these functions are ideally suited for a spreadsheet tool like Excel.

Marketing

Marketing is a discipline tasked with generating and meeting the demand for a company’s products. As such, one of their primary functions is directing company resources into appropriate channels to generate demand and create awareness of the company. These channels are generally known as “advertising” and there is usually a cost involved in utilizing them. This cost may be in terms of human labor or money, but in either case it is an investment that should be tracked and monitored to ensure it is generating a suitable return in terms of new revenue. Again, Excel comes to the rescue by providing an easy format for organizing all of these marketing expenses and matching them with the results they generate.

Project Planning

Although there are more robust project management tools available, Excel does a fantastic job for planning and managing the more straightforward projects that arise from day to day in business. Many project managers will use Excel to create Gantt charts which can provide a visual representation of the steps and milestones of a project and help keep things moving toward the ultimate goal.

As you can see, although Excel was initial conceived as a finance and accounting tool, there are a number of other uses for it. From marketing management to more obscure uses like project tracking, Microsoft excel is a tool that is used a wide variety of jobs. You might recognize how it may be a suitable tool to include in …

Know the Advantages of Taking a Lending Capital

If you are dealing in today’s financial market you know how the lending capitals are helpful. They operate the liquidity of any business, organization, and other government entities. The plants and equipment are the compulsory assets that a company has fixed. The working capital can be considered a part of the operating capitals. The proper amount is found out by calculating current asset by deducting the deducting the current liabilities.

What Is Lending Capital?

This can also be characterized as a type of loan. The capital is generally granted to the business making professionals. They help in meeting the financial needs of a business. They are available not only for the small business but in fact mostly for the larger businesses. But these capitals can never be used to purchase assets or something that means financing for a longer time. There are several advantages of getting these kinds of capitals. These are as follows:

Handling the Financial Difficulties

In certain situations, some financial difficulties might arise in a company. If the businesses have assets they would go bankrupt if they are unable to pay their dues. So, in order to prevent such situations, the loans are generally provided. The companies can apply for the loans so that they can prevent the shortage and stabilize the situations. The business owner can thus, retain his ownership intact. When you borrow from such lenders then you will not have a tight obligation from the lenders to pay the money exactly on time like the banks do.

Collateral Is Not Required

Loans are of two types. They are secure and unsecured. The most common loans are found to be of the unsecured type. They are commonly for the small businesses with lesser to no risks. They also require having a good history.

No qualification restrictions are there for the businesses then that is there for the unsecured loans. Shorter terms of the loans should be applied for the short term loans. With this in hand, the money is spent on the business for a shorter period of time.

The Money Can Be Used

When you are taking the lending capital from any of the financial institutions there are very few restrictions on how you can utilize the money. They can be used for the maintenance of operations and increase the revenue opportunities.

Quicker Approval of Money

With these financial lending, you can get money fast from the lender without any hassles.

Thus, this process is considered to be a boon for the business making organizations when they are running short on their finances.…

The Importance of Email in Your Business

Emails has been a very essential communication tool in this age of technology, and with the growing number of businesses doing transactions online, the email is indeed a great tool in managing your business.

Even for personal use or organizational use, it has become a part of our everyday lives – from communicating with friends to closing a deal, to applying for a new job or for almost any other transaction we do online. In fact, most services on the internet, even social networking sites, would ask you your email address before you could use their services. Indeed, the importance of email is everywhere.

To understand more about the importance of email, particularly in your business, here are specific things that you can do with your email and some of its advantages.

– Free communication. In any business, communication is an essential factor in any transaction, planning or organizing and emails are free for you to use to communicate with your employees, your clients, as well as your potential customers.

– Emails also have a wide reach. Telephones and mobile phones sometimes require you to have international sim cards to reach to other parts of the world, not to mention that it can also be very costly.

– Aside from its convenience in sending communication, the importance of email especially in businesses is to keep a record of the transactions of the businesses. Keeping an archive of your mails can be very useful in rechecking past information and transaction. It can also serve as repository of files, purchase orders, contracts, requests and other files that are attached in emails, as they can all be recovered later.

– For businesses who advertise online, one useful way of getting potential customers is by email, and in fact, getting an email is one important thing you need to have to introduce your product online and in availing into some online services and tools. A business website or an online store should have contact information like email to build credibility and trust for your clients and customers. It is also a good tool to deal with customer queries and feedback.

– Monitoring and managing your business even if you are not on the business site is also another importance of electronic mails. With portable gadgets able to send and receive emails, you can actually manage your business even if you are traveling or in another place.

– Emails are also great storage of your client’s addresses, potential customers, friends, employees and people you use to work together with. This database of contact information can also be conveniently retrieved anytime in your address book.

– You can also make use of an auto-responder to be able to get in touch with your clients, your potential customers, your contacts even without being always checking on your mails. This can help you manage your customers in a fast and convenient manner.

Aside from these main uses of email, you can also manage your tasks with the calendars …

Stripper Business Plan – Get Paid to Hang Out With Strippers

It sounds like a dream come true for most guys, doesn’t it? Is it really possible to get paid for hanging out with strippers? Well, the author of the Stripper Business Plan, Mike Steele, knows so. He knows so because he has lived the life and been there and done it and written it down so you can copy his business plan and start your own business doing the same thing.

The Stripper Business Plan is a multimedia package that will explain to you how you can quickly start your own business as the manager of exotic dancers and strippers for bachelor parties and the like. When someone in your local area is looking for a stripper for a birthday party or a bachelor party you could be the one they go to. Plain and simple.

The author goes over many details of how to start up your own stripper business claiming that you can begin making money very quickly. In his book Mike Steele goes over where to get business, what kinds of women are necessary for your business, how to organize your stripper business and many insider secrets that are said to be proven methods of maximizing your cash flow.

Also included in The Stripper Business Plan are three podcast coaching sessions that are said to help you to get you on your way to being profitable quickly and a separate book full of advanced trade secrets. Everything including what is necessary to get your stripper business up and running and getting the girls is laid out for you in an easy to understand step by step method.

Just like any business though, your success is dependent upon how hard you work. That really wasn’t meant to be a pun but it’s a pretty good one though, isn’t it? The idea of starting a business as a manager of strippers and exotic dancers does seem like a good one though given that the demand is there and the need to fill that demand is pretty obvious. It is actually such an ingenious idea that we wished that we had come up with it and are surprised that we never thought of starting a stripper business.

The opportunity to learn from someone like Mike Steele does make The Stripper Business Plan a very attractive package. To have everything explained to you by someone that has operated a successful business that you are thinking of starting is simply a good move and should save you a lot of time and aggravation. Oh, and let’s not forget the fact that you’ll be hanging out with strippers every day and getting paid for it… not that this would be the sole reason for starting such a business, right?…

How to Outline Your Financial Goals

People save and invest to improve their quality of life. However, it is easy to make mistakes that can cause stress and cost you money. You can avoid those mistakes and keep your investment on track by outlining your financial goals.

It is a common investment mistake for investors to have no idea why they are investing. So, you should ask yourself…

Why are you investing?

Do you know why you are investing? What are you going to do with your money? What is most important in your life?

“Making money” is not a good enough reason to invest. How do you see yourself spending your money in a year? Five years? Ten years? If you can clearly explain your goals, you have taken the first step toward making your own investment plan.

With that in mind, write down your financial goal. One simple sentence is all you need. For example, you can write “buy a home”, “pay for college,” “start a business,” or “retire as a millionaire!”

Next, write down the amount of money you think you will need to accomplish your goals.

Don’t worry about trying to fit in every little cost. You can always revisit your target later when you check your performance. Focus on your goal, and try to write down a target number.

This number will be different depending on your goal. For example, maybe you’re buying a $100,000 home, you may want to save $10,000 for a down payment. Maybe you need $5,000 to start a business or $50,000 to pay for college. If you don’t have much money to invest, you can make up for it by investing over a long period of time.

Finally, consider the importance of your investment goals. How important is your retirement, your kid’s college tuition, or your down payment on a house? The importance of your investment will give you an idea of your risk level.

Every investment has risks.

You don’t want to take too many risks. However, you need to take some risks to earn a reasonable return. Also consider the amount of time you will be invested. If you have more time to invest, you may be able to take risks and still catch up if you run into trouble.

Ask yourself if you are ready to invest before you move on. Be honest with yourself.

You may not need to invest your money. Would you be better off paying off your debt? Can you afford to just save your money rather than invest it? Make sure you can commit enough money and time to investing.

It is important to stay motivated toward your goals and keep them in mind when you invest. Every investment decision you make should move you closer to your goals. You should be willing to learn, improve, and work toward your goals as you invest.

If you can stay committed and keep that motivation toward your investment goals, you are much more likely to succeed!

A. Michael …

What is Sales Financing?

Running a business is a difficult process and one which is constantly fraught with unexpected financial difficulties. Balancing acts are constantly required to ensure there is enough money in the business coffers to cover wages, rent, tax and other regular bills, as well as stock and equipment purchasing.

For all businesses, one of the key factors of success involves ensuring the quick release of funds in order to enable further purchasing or investment decisions. If funds are tied up rather than available for use, then the entire business process can screech to a halt.

One of the most common problems in business usually occurs when large sales are successfully made and the work is invoiced to the client, but payment is not immediately forthcoming. This means that there is a lot of cash tied up in sales ledgers which are not available for use on other projects such as restocking. This is an all too common situation which can prove disastrous to many companies – especially smaller businesses and start-ups who are usually the least able to effectively deal with these types of situations due to generally low levels of liquid assets in the first place.

This has lead to the creation of a number of business and sales financing products by larger institutions and specialist business finance organizations to fill the gap in corporate finance. These days, many banks can provide business banking services such as factoring, invoice discounting, and stock finance to enable their clients to free up many of the assets that they normally have access to for working capital.

Sourcing a financial institution to deal with the recovery of funds tied up with stock or invoices and to help deal with sales ledgers can enhance a business on several fronts. Not only does the company not have to worry about chasing up debtors, but the money is quickly made available for reinvestment; and the risks of suffering from bad debt are significantly lowered, as it can become the province of the factoring company to pursue reticent debtors. Factoring companies will often also make available additional debt recovery litigation services if they should become required.

While some businesses may see the costs of using sales finance services as cutting into profit margins, the benefits of having funds made accessible for use towards working capital – rather than sitting with inaccessible funds which do not for the company – can prove to be invaluable in enabling company growth and stability.…