InvestWithPassion.com: Blog InvestWithPassion.com: Blog https://www.investwithpassion.com/blog/ Copyright by InvestWithPassion.com en InvestWithPassion.com Sun, 29 Mar 2020 09:03:25 -0400 Check here if PAN Card is Mandatory for You or Not

Permanent Account Number (PAN) is an alphanumeric identity of 10-digit assigned to every Indian, even minors. The allotment of the number is done by the Income Tax department directly under the supervision of the Central Board of Direct Taxes.

The use of PAN card is multifarious - apart from serving as an identity proof, it is also essential for various financial transactions like purchase or sale of an asset, receiving a professional fee or taxable salary, and investing in mutual funds among others.

Who has to apply for a PAN card?

Any individual earning more than Rs.2,50,000 in India, and also foreign nationals paying taxes here as well, require PAN card mandatorily. Additionally, business entities will have to obtain a Permanent Account Number if the turnover, total sales, or gross receipts exceed Rs.5 lakh in a particular financial year.

The importance of PAN card for a company is immense as every transaction made by the entity will have to go through the Permanent Account Number. It helps in the identification of the tax flow of the company.

When is PAN card mandatory?

The Income Tax Department uses the Permanent Account Number to track financial transactions like payment of tax, TCS/TDS credit, specified transactions, and returns of income, among others. Among many benefits of PAN card, it enables in the facilitation of retrieving specific information which can be linked with borrowings, investments, and other business activities.

Below mentioned are a few situations where PAN card is mandatory –

  • To file income tax returns.
  • For individual financial transactions worth Rs.2.5 lakh or more.
  • Purchase or sale of immovable property valued at less than Rs.5 lakh.
  • For cash deposits above Rs.50,000.
  • To pay an insurance premium of Rs.50,000 or above.

It should be noted here that Rule 114B of the Income Tax Act, 1961 mentions that state governments, central government, and consular offices do not have to mention permanent account numbers.

The significance of Permanent Account Number is evident; and, if the card is misplaced, individuals should opt for a reprint of PAN card. This can be done from the official website of the NSDL.

However, it should be noted that individuals have to pay a certain fee to apply for duplicate PAN card online. Hence, they can apply for an insurance policy that provides financial coverage against such expenses when their PAN card is lost.

Reputed financial institution, Bajaj Finserv provides the Wallet Care insurance plan under its Pocket Insurance & Subscriptions. Among the host of benefits of the plan, it also offers blocking facility for multiple cards via a single call.

Additionally, in the event that an individual’s handbag is misplaced, a handbag assure insurance policy will offer a high coverage and compensation for PAN card replacement.

A purse may also contain a number of valuables like debit card, credit card and PAN card, which may be subject to misuse in case of loss or theft. In such cases, a purse care insurance policy would not only ensure customers receive reimbursement for lost PAN card replacement but also block all their credit and debit cards with a single call.

To conclude, while it is not mandatory to quote the Permanent Account Number in all transactions, it is advisable for an individual to apply for it nonetheless. Also, when lost, card holders must file an FIR with their respective police station.

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An Overview Of ESG Investing No matter their size, nearly every company has an environmental footprint. Businesses of all sorts also create a societal impact via their relationships with employees, customers, vendors, and the community. Another commonality: All companies have a governance structure that determines who is running operations, developing strategies, and more. Taken together, these are known as environmental, social, and governance factors — or just “ESG.”

ESG considerations have become increasingly important to companies due to today’s focus on environmental issues and human rights. In turn, companies’ ESG initiatives are critically important to a socially conscious segment of investors who base investing decisions around a company’s level of commitment to ESG issues.

Defining ESG Investing

Many investors value the efforts that companies make toward sustainability and the actions they take to protect the environment. These investors also value social and governance factors as they apply to relationships and a company’s missions. In fact, to some investors, these areas are just as important as financial factors when it comes to making investment decisions. ESG investing involves factoring in a company’s strategy and progress in these areas:

  • Environmental:Investors want to know what companies are doing to conserve the planet’s resources and operate in a sustainable manner. What is the company doing to protect the environment as a whole?
  • Social:Investors seek to understand the relationships that companies have with employees and others. Do they create fair opportunities? Are they humanistic with vendors, customers, and the people they serve in the community? What role does the company play in supporting the community?
  • Governance:Also critical to ESG investors is knowing what steps a company takes in terms of oversight with its board and management team. What governance policies are in place to ensure fair and just management of the business, and equal opportunities regardless of individuals’ demographics?

Why Does This Matter?

Many investors decide where they should put their money based on their perceptions and opinions regarding what is right and just. For many investors, especially younger investors, ESG investing has become commonplace. There are funds that target companies based on their ESG initiatives. Some financial and analytics companies even create ESG ratings formulas based on several ESG-related metrics. This helps investors know where companies stand on ESG initiatives in comparison with other companies.

Since a company’s stock stands to gain from having the largest potential pool of investors, it can be critical for companies to develop, support and publicize ESG initiatives.

Why Is ESG Investing Growing So Rapidly?

  • The world is a very different place than it used to be. Global sustainability has become a responsibility for all companies and people.
  • Investors are changing, too. Millennials have more investing power than when they were young, and this age group values social responsibility.
  • Data is more readily available than ever before. Investors have access to the information they want and need, such as the aforementioned ESG ratings.

Establishing Standards to Meet Investor Goals

Companies interested in attracting ESG investors can take several steps to establish, enhance or better communicate their relevant policies. Establishing teams, goals and responsibilities are key parts of the process — but it is also important for businesses to be able to inform the investing community about their ESG performance, backing up their communication with data and evidence.

Take a look at the accompanying infographic for a clear understanding of ESG investing. By being proactive, it’s possible not only to improve company standards but also to capture investor attention.

An Overview of ESG Investing from Clermont Partners
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How to Apply for Business Loans? (business loans) Business loans might require you to spend a considerable amount and the directness can vary depending on what is needed. The things that are needed to avoid the problems while asking for loans may vary and the guidance with which this can be described as belongs to many factors. The way standing up the position in a company can be adjusted is very well defined but sometimes it is not. There will be no need to get a hang of the loan if the business is too small and the related finances must be fulfilled for this very purpose.

Setting your goal straight

This can be one of the challenging tasks because it gets very difficult to keep one in one place. There are thousands of place which are ready to deviate the individuals from their idea. This is why it is necessary that the determination of funds needs to be allocated in the right manner. The existing firms will need to take special note on how to prepare their financial statements. The business plan and the firms will have to be very adamant about their approach.

Type of banks

This factor results in a great deal of how you take the loan. If you are just going on the basis of institutions only then your credit unions may be filled up and the members of your own committee may turn up against you if the business doesn’t do well. The loan application, on the other hand, will have to have opted which will expect you to pay heavy interest.

Looking for credits

The balance sheet that needs to be maintained by the owners is of great value. That is the record of where the money had been spent what is needed for the order. The loans may be taken on a daily basis and this is why the agencies will have to keep track of it in order to convince the people they are asking for. The increased chance of fixing it may create a dispute on the reporting and to resolve this it is suggested to maintain this.

Visiting the local authorities

This can be a very useful thing that can aid in networking. This may be the starting of thousands of connections in your locality. More advice you are willing to take the better it sounds among executives. The challenging of the adversities of the area can be solved by relocation. This is also the way by which you can close the chapters of the local committees who may be opposing your business idea.

Looking for borrow options

The borrow option of the commercial bank will have to be large enough to be asked for. This may be only granted if the pure complete sheet is shown to the instructions. The regional banks, on the other hand, maybe the cause of the unions. The business loans and applications will need to be picked up too. There are microfinance companies that might fund but their budgets might not appeal to your business needs. Hence this is advisable that you look for multiple companies who will be able to help you.

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How Can a Financial Advisor Help You Managing your money can be quite tricky. First of all, you have to plan for expenses that could change drastically at the very last minute. Worse, any small mistake could end up costing you dearly. Because of these, it is best to seek the help of professionals, especially when your career is just starting; this is where financial advisors can come in.

As the financial world becomes increasingly complex, the importance of a financial advisor increases. Hence, knowing how to find a financial advisor who can effectively guide you on how to manage your money can mean the difference between becoming financially successful or not. Here are some of the most important things a financial advisor can help you with when it comes to effectively dealing with your money:

Help you manage your existing wealth

If you have good savings - from the part-time jobs you worked or the allowances your parents gave you - a financial advisor can tell you how to get the most out of this money. Instead of just leaving your savings in a bank or around your house, where its value will depreciate, you can invest this amount and watch it grow over time. This way, your money gets to retain its value in the future.

A financial advisor can help by recommending the best products to invest, based on your financial goals and risk profile. Given how complicated the world of finance and investments can be, it is always helpful to have someone advising you on the best course of action to take.

Help you plan for your future

As you grow older, finances become an even more important consideration, especially once you start a family. You may also have some personal financial milestones that you would want to reach, such as being able to afford your dream car or dream house or being able to say that you have a certain amount of money in your account. To reach these goals, you would need to start planning as early as possible; this is what a financial advisor can help you with precisely. By helping you craft a comprehensive plan for you to reach your goals, a financial advisor can help you to be sure of what you have to do to obtain the financial stability that you dream of. Learning is the first step in turning that dream into a reality.

Help show you the ropes of money

Having a financial advisor to guide you on your financial journey is one of the best ways to be introduced to the world of finances and investments. Given how comprehensive and confusing these topics might be, it is always best to start by learning from an expert; this will help you avoid being in over your head and committing mistakes that could end up costing you dearly.

Knowing how to find a financial advisor is essential because only your advisor will be able to explain what exactly your investments will do for you carefully. They can give you a better understanding of how investing works, so that you may also know how to make your investments work for you. This way, you will become more financially literate and capable of making sound financial decisions to help you become successful in your finances, as well as in other areas of life.

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Six Ways to Boost Your Retirement Savings Preparing for retirement is a methodical process for most Americans. You have to consider a lot of things such as how much to put away in savings, when to save, and which investment accounts make the most sense for you.

There are so many different things to consider when it comes to saving toward retirement. Here are some of the best tips financial experts recommend when it comes to saving for retirement.

Tackle Debts

Saving for retirement is a lot more difficult when you carry a lot of debt. Many financial experts suggest the snowball debt recovery method.

Begin by paying money toward your smallest debt first, then keep making payments until that debt is paid off. What you should then do is keep up the momentum and put money toward your next smallest debt. You would be surprised at how much motivation you will feel after paying off just one of your debts. You will often feel more motivated to attack your debts more aggressively following this method.

Mortgages are the major debts that affect retirement. Paying off your mortgage as early as possible is one of the best ways to reduce your retirement expenses. According to the Consumer Financial Protection Bureau (CFPB), about 30 percent of homeowners 65 or older still carry mortgage debt.

Take Advantage of Employer Benefits

If your employer has a 401(k)-matching program, take advantage of it.

Contribute the maximum amount you legally can toward your retirement savings plans to receive the maximum benefits. Starting earlier is better than later. 

Consider Permanent Residency Location

Where you choose to live in retirement plays a big role in your overall cost of living. Not only that, but where you live will affect how much Medicare insurance premiums will be and how much you pay in taxes.

Nevada, Tennessee, Texas, South Dakota, Florida, Wyoming and Washington have zero income taxes. However, please note that some states, such as Tennessee, do tax dividends and interest. Fortunately, the majority of states don’t tax Social Security.

Evaluate Potential Healthcare Costs

As previously mentioned, really consider how much insurance premiums are and the access to care available to you when you think about where to live in retirement. This is because how much you pay for healthcare greatly depends on where you live. Insurance premiums are different and higher depending on where you live. Always investigate how much your premiums will be for all aspects of your health.

Get quotes early for insurance. That will help to budget for your future.

Enroll in a Health Savings Account

Preparing yourself for healthcare costs is a great way to build a good financial base for your retirement. Health savings accounts (HSAs) are one of the best tools for saving for healthcare costs in retirement because they are triple tax advantaged.

In 2020, you can contribute up to $3,550 as an individual or up to $7,100 for families and people aged 55 or older can contribute an extra $1,000 contribution each year as a catch-up contribution.

The money contributed to an HSA is your money forever and can even be invested in stocks and bonds to further boost your retirement savings.

Utilize Catch-up Contributions

The moment you turn 50 years old, you can start benefiting from catch-up contribution opportunities. People who are 50 or older can put extra money into their 401(k) and IRA.

You can contribute an additional $1,000 per year toward your IRA and $6,000 each year to your 401(k). Utilizing these extra contributions can help boost your retirement nest egg over the next 15 years tremendously.

Danielle K. Roberts is a Medicare insurance expert and co-founder at Boomer Benefits, where her team of experts help baby boomers with their Medicare decisions nationwide.

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4 Easy and Essential Tips to Be Financially Responsible in Bellevue, Nebraska Debt can be a scary thing, even when so many Americans are drowning in it. Sometimes, it can arise due to matters out of a person’s control, like rising medical costs. Other times, the meaning of debt is taken a bit more liberally, where having a mortgage means you’re living in debt.

But there are plenty of people out there who are in debt because of their own financial decisions. While Nebraska is a strong state economically, there are still many people who don’t have a personal savings plan in Bellevue NE.

It’s extremely important to be financially responsible in current times, so just run through some of the basic tips that can help you out.

Make a Budget

While it may seem like budgets are meant for big businesses or other professionals, having a personal budget is a quick and easy step for being financially responsible.

It’s best to do a month of “research” to judge how much you’re spending on essentials like your rent, gas, groceries, utilities, and more.

Then, you can decide how much leftover you want to have for personal or fun items, like a new TV or saving for a vacation.

The more you have down on paper, the better off you’re going to be.

Look for Ways to Cut Back

When you’re looking over your budget and expenses, it’s always a great idea to see where you can cut back, or cut out the non-essentials in your life.

Do you really need Amazon Prime if you don’t order off Amazon enough? Are you still getting the newspaper, even though you don’t read it?

Even though cutting back on something like Amazon Prime may just be $10 a month, that’s still triple-digits yearly savings.

Limiting activities like eating out is also another way to save money here and there. Instead of stopping by the gas station for a cup of coffee, make your own at home. A little bit here and there can go a long way.

Avoid Late Fees

Credit card companies thrive off of people not paying their bills on time and being hit with high-interest rates. One of the ways those interest rates increase is by not paying your bills on time.

This applies to your utility bills as well, even something as simple as your electricity bill. When you pay your bills on time, you’re going to be spending the correct amount and avoid being hit with any late fees.

Look at Retirement and Savings

Part of becoming financially responsible is being able to save up for the future. You never know when you may have car trouble or be injured and unable to work for a while.

That’s why it’s important to set up a personal savings plan in Bellevue, NE. You can go in and talk to someone at the bank to help set up an account as well as a savings strategy.

And even though you might be young now and retirement seems far away, it’s always a great idea to start planning for the day you start working.

If you have a job, look at putting money into the company’s 401(k) plan or even contributing on your own to a traditional or Roth IRA.

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Cutting Through All the Investment Noise and Making the Right Investment Decisions Financial security is the bar we set as a measure of success. Once you have your finances and the financial future of your family secure, you can rest easy in knowing that everything will be fine. The problem arises in how to get there. Many people go the investment route and invest money in a portfolio that looks risk-free, and that has a good return on investment. The problem is that if you are new to investing, you might run into a wall of information. There is so much information on investing that it gets hard to know what to follow and what not to. The secret is finding the right investment options and investing the right way is having the ability to cut through all the noise.

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Find a Few Reputable Sources

Unfortunately, many people who say they give the best investment advice do not have any proof to show this, and if they do, they often say it is confidential. Even with that being the case, there are a lot of good investment advisors out there. Start by finding information that comes from people in the financial industry and have the credentials to prove it. They may be far and in-between, but there is a sizable number of websites and blogs run by people who are deeply embedded in the financial sector. Most of these people do not hide this fact and you can look up their credentials as well as the financial statements of their companies. Once you find one or two of these people, their websites and other places they post their advice, you will get familiar with the process and will be in a better position to know who is offering good advice and who is doing it for the clicks.

Know How to Do Proper Research

Having enough faith in an investment option to invest your money in is incredibly difficult and can be risky. That is why you have to know how to reach every piece of advice and investment tip you get. Using an analogy, if you are looking for a financial loan, you would research different companies and find out that Advanced Point Cap is a reputable company that offers loans under friendly terms. If you would not leave finding such a financing partner to chance, why would you leave finding a good investment partner to chance?

Take Your Time

This is a piece of advice for those who are looking for long-term investment options. Do not be swayed by fads and money-grabbing investment options. Remember that you are putting your money at risk. Patience is key. Take your time to weigh each option. This goes beyond doing proper research. It is also about sitting down and thinking critically about the options in front of you. It is your money and being swayed by anyone who is not investing with you and you not taking the time to think things through could cost you dearly.

Cutting through the noise in the world of investment can be hard. Following just a few reputable people, doing in-depth research and taking the time to think every investment advice through might help you do this and ensure that you do not lose money through an investment option you decided on based on outside pressure and noise.

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Is Whole Life Insurance an Investment Product?

While a lot of people argue that life insurance can be used as an investment product, it is not. First off, when you invest, you are allocating money expecting to gain a profit. And whole life insurance does not work that way. The following are reasons why whole life insurance cannot be used as an investment product.

It is Expensive

When you purchase a whole life insurance policy, then you should expect to pay very high premiums. If you do the math, you will find that you are paying very high premiums while there are way cheaper alternatives for life insurance policies. Also, the expensive premiums don’t have any profit in return, they only grow a small interest. This interest is an unrealistic amount for someone trying to invest. Based on the quote engine on InsureChance.com, it can be as much as ten times as expensive. 

It is Undiversified

Another reason why whole life insurance is not a good investment product is that it is undiversified. When making an investment, you want to spread your risks and invest in a wide portfolio. Whole life insurance is not diversified and does not provide different options for you. So, when you buy a whole life insurance policy and don’t find it to be a lucrative enough investment, you will lose everything if you pull the plug on it. 

It is Illiquid

A good investment is one that is liquid. Liquidity allows you to get back the amount you initially invested. Whole life insurance, on the other hand, does not offer that privilege. Once you start making the premium payments, the policy stays in force until you die or if you stop paying for it. You lose everything when you stop making the premium payments, and even if you do pay them and you die, only the death benefit is paid to your beneficiaries. This means that all the cash value accumulated is lost if you don’t use it during the term of the policy.

It is Not Transparent

Whole life insurance also lacks transparency. When you buy a whole life insurance policy, then you will likely be charged additional fees that are not initially mentioned in the beginning of the policy. Whole life insurance is already expensive, but this additional cost can further increase the overall costs that you were not prepared for. 

When is Whole Life Applicable?

From an investment point of view, whole life insurance is not worthy. However, it is still important to purchase a whole life insurance policy, and below are scenarios when it is best applicable.

If You Want to Protect Your Family

Whole life insurance provides coverage for the rest of your life, and pays off the death benefit to your beneficiaries regardless of when you die, as long as the policy is in force. But with term life insurance, the policy only pays off the death benefits if you die within the term of the policy, meaning that your beneficiaries don’t get anything out of it if you outlive your term. 

As such, whole life insurance gives you a piece of mind knowing that your family’s future is protected regardless of when you pass away. 

When You Want a Fund for Emergencies

Another scenario when whole life insurance is when you want a source of income for emergencies in the future. Whole life insurance offers a cash value component that you can use for your personal needs. This cash value is made from the premiums made from the policy, and can also be borrowed against in the future.

One of the main uses of this cash value is retirement. So, whole life insurance can also be used to provide an extra source of income for retirement. 

A great advantage of the cash component is that it grows tax-deferred. This means that the cash value component grows tax-free and as such has a high growth rate. 

Take-Home...

Whole life insurance is not an investment product. So, if you are looking for an investment, then whole life insurance should not be one of them. It has its own benefits, but always make sure to do prior research before buying any product. Use your whole life policy to protect the future of your loved ones, and to ensure that your estate taxes are paid off even when you die especially if you own a large estate. 

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Questions to Ask Your Mortgage Company Before Refinancing Your Home If you are looking to refinance your loan on your home to lower monthly payments or for any other reason, it is vital to choose the best lender to suit your needs. It is essential to work with a mortgage broker you trust and to let them know as much about you and what your goals are as you can. Home mortgage refinancing can be very beneficial to some homeowners, but you must ask prospective mortgage brokers some important questions before making any decisions. Keep these questions in mind as you search for a lender.

What Additional Costs Are Involved in Refinancing?

When you got your initial mortgage, you had to pay closing costs. There are closing costs involved with a refinance as well. Usually these fees, charged by the lender, along with appraisals, title policy costs, escrow, pest inspections, and credit reports, can add up to 3% or more of the value of the loan. You need to be sure refinancing is still going to benefit you, despite these fees.

How Old Is Your Current Mortgage and Is There a Prepayment Penalty?

If you are well into paying off your current loan, it may not be wise to refinance. Adding years of interest payments to a home that may be paid off in five or ten years isn’t fiscally responsible. If your mortgage has a prepayment penalty, this will add even more fees to your closing costs. Be sure that a refinance is your best option.

How Long Do You Plan to Stay in the Home?

Those closing costs, fees, and the additional interest payments involved in a refinance will work against you if you aren’t planning to stay in the home much longer. You will want to be sure that you are at the very least breaking even on the loan before you sell your home.

What Is Your Credit Score?

Interest rates on loans are often dependent upon your credit score. If you are refinancing in an attempt to get a better interest rate, you will want to make sure you have an adequate credit rating. If it falls short of what you need, you will need to work on building it up a bit before refinancing.

Which Type of Loan is Best for You and What Are the Interest Rate and APR?

There are various types of loans available to suit different borrower needs. Ask your mortgage broker to explain interest only loans, negative amortization loans, fixed rate loans, and adjustable rate loans, so that you understand which is best for you. You will also want to have a full understanding of the interest rate, which is the percentage you will be paying on the loan, and the Annual Percentage Rate (APR), which includes fees and closing costs.

What Type of Refinance Is Best For You?

Your mortgage broker should be able to tell you all about cash-out refinances as well as rate and term refinances. These are the most common types of home mortgage refinancing. The cash-out option allows you to borrow extra cash against the equity in your home if you need it for other expenses.

How Much Equity Do You Have?

The more equity you have built up in your home, the less you will have to pay over the lifetime of your loan. For home mortgage refinancing, you want to know how much equity you have in your home, as 20% is generally required to escape having to pay private mortgage insurance.

How Will Your Monthly Payment Be Affected?

The most common reason for refinancing a home is to lower the monthly payment burden on the homeowner. Your mortgage broker should be able to explain to you how refinancing at a lower APR for the same term will be your best option. However, if other factors, such as the need to pay off other debts with home equity, are figured in, this may not be the case. This doesn’t mean that refinancing isn’t right for you. Everyone has different needs, and a good mortgage broker should be able to help you decide what is best for you.

Be prepared with these questions and any others you may have before meeting with a prospective lender. The more you know before signing for any loan, the more at ease you will feel with your decision. Our experienced and knowledgeable brokers at Sammamish Mortgage can lead you down the road to financial security and peace of mind. Please reach out to us today for help with your home mortgage refinancing.

Sources:

https://www.rocketmortgage.com/learn/questions-to-ask-when-refinancing

https://www.thebalance.com/questions-to-ask-your-mortgage-broker-or-lender-1798464

https://www.statefarm.com/simple-insights/planning/before-deciding-to-refinance-ask-yourself-these-5-questions

https://smartasset.com/refinance/6-questions-to-ask-before-refinancing

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What is a Credit Card & Their Annual Charges? With as many as almost 50 million active credit cards as of May 2019 reported by Economic Times, the rising popularity of credit cards is no news for consumers. Even with such a huge number of active credit cards in India, many individuals are devoid of the information pertaining to the benefits associated with credit cards, its usage, and annual charges implied on it.

Credit cards are debt-based financial tools which require. There are certain credit card charges applicable that the user may have to pay to continue using their card. A clear idea on these charges is helpful for consumers as it creates the much-needed transparency in the process.

What is a credit card?

It is a payment card issued by financial institutions to consumers so that they can make payments for the purchase of products or services online or offline at various merchant terminals. While making payments using a credit card, it is the credit card issuer who pays on behalf of the user. The payment made is added to the credit utilised which the user is liable to repay within the due date as mentioned in the credit card monthly statement.

This billing period is usually 30 days and all transactions or purchases made during the entire billing cycle are included in the bill. For the ease of payment, consumers are additionally provided with a 15 to 30 day extra period, known as grace period.

Every credit card user needs to make bill payments within the grace period so that they don’t have to pay late payment charges or to avoid incurring interest on the unutilised amount. Therefore, consumers availing credit cards must be well-versed about how to pay credit card bills so that they don’t make any mistakes.

Apart from the late payment charges in case of delay in payment, other fixed credit card charges like annual charges are imposed on credit cards.

What are the annual charges of credit cards?

Financial institutions impose some annual fees on credit cards that users need to pay. This fee is usually fixed by financial institutions and is applied for premium cards that offer multiple benefits to users. Cards like Bajaj Finserv RBL Bank SuperCard offer multiple benefits like cashbacks, rewards, welcome bonus, discount, etc. and hence impose minimal annual charges that user needs to pay.

Such credit card charges are usually applied at the end of the year, or beginning or distributed partially for the convenience of the consumer. Furthermore, candidates applying for such credit cards must make sure that the offered benefits are always greater than the annual fee charged so that they are always on the profitable end.

In case the credit card lender decides to make changes in the annual fee, they have to notify the candidate about the same 45 days prior. Therefore, candidates availing Platinum Plus Supercard features and benefits and other such cards must make sure that they claim more benefits than they have to pay as annual charges.

Apart from the annual charges, credit card swipe charges may be imposed by merchants for every credit card transactions made online or at POS terminals. These charges are usually 1% to 3% of the payment made.

Subsequently, financial companies may include few other credit card charges on an applicants’ bill such as –

  • Late payment fee.
  • Returned payment fees.
  • Overlimit fee.
  • Balance transfer fees.
  • Cash advance fees.

Even though the annual fee is compulsory with certain premium cards, paying these other fees can be avoided by the user if they know how to use a credit card wisely. Utilizing credit cards gets easier with well-informed knowledge of annual fees and other charges.

Therefore, candidates can easily avail a credit card as offered by lending institutions but should first get familiar with the annual fee imposed and other charges for better financial planning.

Summary

Credit card and its annual charges to know about

Credit cards are one of the constantly growing payment options that users have accepted because of its universal acceptance and numerous benefits. This payment card is offered by financial companies to provide candidates with a line of credit that can be utilized to meet any day to day expenses, medical emergencies, educational expenses, or lifestyle spends.

However, these cards come along with credit card charges that are additional expenses applicable as per terms against the credit provided by the issuer. It is essential for prospective credit card users to know about these charges so that they can better plan their finances better while experiencing a transparent credit procedure.

Since credit cards allow users to make payments for their spending and pay it later, it is a convenient payment option for several users that require access to emergency cash. Credit cards offer benefits like –

  • Welcome bonus.
  • Cashbacks and rewards.
  • Interest free cash withdrawal from ATMs.
  • Emergency personal loan.
  • Protection against fraudulent transactions etc.

Subsequently, candidates must make timely bill payments in full to make sure they acquire these benefits offered by financial companies. These are the benefits that a premium card user can easily acquire and hence one should compare and see whether the annual charges implied is less than the savings or monetary benefits they are acquiring using it.

Annual fee imposed on a credit card is determined by the financial company. There are several other fees and charges that users may have to pay such as balance transfer fees, late payment charges, overlimit fees, etc. Users who are well-versed with the intricacies of credit card and the associated charges like annual fee can avail the maximum benefits out of it with ease.

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Uncategorized https://www.investwithpassion.com/blog/what-is-a-credit-card-their-annual-charges/ https://www.investwithpassion.com/blog/what-is-a-credit-card-their-annual-charges/ Editor Wed, 29 Jan 2020 01:42:25 -0500
Is it Possible to Edit GSTR 3B after Submitting? The Goods and Services Tax regime in India came into force on 1st July 2017. This new tax structure subsumed quite many indirect taxes that were previously functional in the country.

The primary focus aim behind GST enactment was to bring the entire country under a single tax regime. Under this regime, the tax will be levied at every point of sale. In other words, GST will be charged on every value addition involved in the supply of goods and services.

By accessing the GST portal, taxpayers can file GST returns, register under the regime, generate refund applications, and so on. Under this regime, the Central Board of excise and Customs (CBEC) introduced a number of forms required to file GST returns.

These include –

  • GSTR 1,
  • GSTR 2,
  • GSTR 3,
  • GSTR 3B, etc.

GSTR 3B is one of the most important forms which summarises the GST returns of a taxpayer on a monthly basis. This form has to be filed by every individual registered under the GST regime.

GSTR 3B meaning is that it contains a monthly self-declaration of a particular taxpayer, including the details of all outward supplies made. This would contain information regarding the claimed input tax credit, tax liability, amount of tax paid, etc.

The mandatory details to be included in the GSTR 3B format are –

  • GSTIN of the taxpayer.
  • Registered name of the business.
  • Outward taxable supplies (excluding supplies which are zero-rated or exempt from GST).
  • Zero-rated outward supplies. This includes supplies which are exempt from GST. Exports and supplies made to SEZ (Special Economic Zone) come under this category. Certain goods like salt, curd, fresh milk, etc. are also exempt from GST.
  • Inward supplies which are liable to reverse charge. In case of purchases made from unregistered sellers, the taxpayer will have to prepare the invoice himself and pay the tax as applicable.
  • Non-GST outward supplies, including the supply of petroleum and alcohol products, which are out of the GST regime.

GSTR 3B filing has to be done timely within the stipulated time. Otherwise, a penalty fee will be charged on the taxpayer.

How to edit GSTR 3B form after submission?

Previously, there was no way of editing or rectifying details entered in the GSTR 3B after it had been submitted. But now, the government allows an option of 'Reset GSTR 3B' to the taxpayers.

This helps change the status of the form as 'Yet to be filed' from 'Submitted', and enables the taxpayer to edit the details in the form. The Input Tax Credit (ITC) of this return registered with the Electronic Credit Ledger will be reversed and all the details recorded in the Electronic Liability Register will be erased.

However, this option can be availed by a taxpayer only once. Here is how you can do so –

  1. Visit the GST portal and go to the ‘Return Dashboard’.
  2. Select the option ‘Prepare Online’.
  3. Click on the option ‘Reset GSTR 3B’.
  4. Once the warning box pops up, click on ‘Yes’ and ‘OK’.
  5. Now you can revise the form and re-submit it.

Completing GST-based tasks are very convenient, owing to the facilities available in the GST portal. Similarly, the GST calculator for manufacturers can also be used online to check the tax liabilities.

GST return 3, along with other forms, has to be maintained in an organised manner by business owners.

Doing so can help them avail financing without any difficulties. For instance, withdrawing a business loan becomes easier when you have these official records up-to-date.

Bajaj Finserv is an NBFC that offers such loans to small businesses against a few documents and nominal eligibility criteria.

As a responsible taxpayer of the country, you must adhere to the due dates provided in the GST portal to file the returns.

GST is primarily a technology-driven system, which means, it enables taxpayers to perform all tax-related activities online. This is one of the points why GST is beneficial for India.

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Uncategorized https://www.investwithpassion.com/blog/is-it-possible-to-edit-gstr-3b-after-submitting/ https://www.investwithpassion.com/blog/is-it-possible-to-edit-gstr-3b-after-submitting/ Editor Wed, 29 Jan 2020 01:40:55 -0500
Is Real Estate a Good Investment?

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Real estate is a popular investment option. You might be considering getting on board with it too. Before you do that, you should do your research to make sure it’s really what you think it is. You need to make sure it’s actually a good investment and that it’s worth the time and effort. 

Something to consider is real estate growth over time. How quickly or slowly is real estate appreciating? You should look at the growth of real estate over a long period of time instead of a short time span. Real estate generally has a steady growth rate, which is preferable over a slow growth rate. The growth rate of real estate falls between 3% and 5% per year. 

Like most investments, real estate is a passive way to earn income once you get everything up and running. There are a few things that set real estate apart from other types of investments. 

Rental income stays at pace with inflation

If you have rental properties as an investment, the amount of rent you charge correlates with inflation. When inflation goes up, so does your property’s rent. This can help protect you and your finances. 

You can make a good return on your investment

It’s very popular for real estate investors to buy a property for a low price. Then, you can resell it for a higher price once you’ve fixed it up. Be sure to look around and figure out what type of housing is in high demand. If you’re investing in more traditional ways, you don’t have a lot of opportunities to buy low and sell high repeatedly. 

You can use leverage to build wealth

When you get a mortgage to invest in a rental property, you can use that mortgage as leverage. Then, you can invest in other properties, which will disperse your risk and keep it to a minimum. Keep in mind that your properties should be selected wisely and managed well. By doing this, you can ensure that you have a cash flow positive system. 

The risk is lower and the return is greater than the stock market

When you are managing your real estate investments properly, they can perform better than the stock market. If you hold onto a home for a while, your risk continues to decrease. You can build equity in the home. The prices will go up over time, making your return greater. The values of the stock market change drastically and frequently. This can make the risk high and the return unpredictable.

These are just a few of the reasons that real estate investments can be a better choice than other popular investments. Investing in real estate comes with several great benefits to consider. There are many advantages in real estate over other types of investments. 

The best cities to buy real estate

Some cities are better for real estate than others. This is a major consideration you should make when you begin investing. Not all areas are the same and not all of these areas will give you the same success. You might consider investing in areas that have proven to work well in the past, especially when you’re first starting out. 

According to Chance Realty, these are some of the cities that are great to buy real estate in: 

  • Boca Raton, Florida 

  • Phoenix, Arizona

  • Atlanta, Georgia 

  • Charlotte, North Carolina

  • Sunrise, Florida 

  • Dallas, Texas

  • Detroit, Michigan

  • Hialeah, Florida

  • Orlando, Florida

  • Nashville, Tennessee

  • Ft. Lauderdale, Florida 

  • Miami Gardens, Florida

  • Davie, Florida

  • Miami, Florida 

  • Las Vegas, Nevada

Don’t forget to check the trends to see what is working well in these areas. Research is a very important part of a good investment. There are other areas that can be good investments as well. This list simply includes some of the best ones available. 

Overall, investing in real estate can be a good financial move. There are several reasons that it’s better than other types of investments, which makes it worth considering. As with any investment option, make sure you understand what you’re doing so you can make an informed decision about your finances. 

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Ensure Security With a Life Insurance Policy As you get older and take more control of your finances, you start to think about long-term security through life insurance plans. However, getting insurance can be an extremely overwhelming and confusing process, especially with the many plans available and the technicalities.

Financial planning is no easy task given the many uncertainties that are difficult to predict. An appointment with an agent and you would see that there are several policies available, so choosing the right one can be challenging. Getting familiar with the standard plans and perhaps even methods like the bank on yourself life insurance will be useful for you to make the right decision.

It is never too early to jump on the insurance trend, especially as it has several benefits and can provide you with long-term security. With an insurance policy set in place, you can prepare for any possible event in the future. It may be tricky to understand how insurance policies work at first, but being knowledgeable will surely help you in the process.

Whole Life Insurance

A whole life insurance plan is one of the most common and traditional policies existing. You set a premium amount schedule to your liking. For instance, you can choose to pay smaller amounts over an extended period or larger amounts over a shorter period. Additionally, dividends are paid to the policy, and you can use them to either reduce your premiums or increase the death benefit.

When you make payment for your premiums, part of the amount accumulates as cash value. You can get a loan from your cash value, but unpaid loans will be subtracted from the death benefit.

Recently, the idea of bank on yourself life insurance has emerged. This concept involves taking out a whole life insurance policy and paying additional premiums to build up your cash value.

Term Life Insurance

Contrary to the whole life insurance policy, a term life insurance policy only covers a specified term that you set. Typically, the term duration is in multiples of five, such as 10, 15, or 30 years. The only value in the term life insurance policy is the death benefit as this type of plan does not have the cash value accumulation.

Since term life insurance only covers a certain period, it is much more affordable than a whole life insurance policy.

Another advantage to it is that once the term expires, you have the option to renew your policy to extend its coverage or convert it to a whole life insurance policy. Such is crucial as the death benefit will not be paid out if the policy expires before the death of the policyholder.

Annuity

A life insurance annuity works slightly different in that it operates similar to an income. Whereas the whole and term life insurance policy provides a lump amount of money as a death benefit to beneficiaries, the life insurance annuity will provide the death benefit over a certain period. You can choose to have a fixed-period annuity for a specific period or a lifetime annuity.

In 2019, the percentage of Americans having life insurance policies is fifty-seven, and though this percentage represents the majority, there is still tremendous potential to capture a broader market.

There are several benefits to getting a life insurance plan early in your life to have that extra guarantee and security. You may be overwhelmed at first, but once you are familiar with the insurance plans, you will be able to find the right policy for you!

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Launching a Small Business – 5 Frugal Strategies for Stable Finances Keeping business finances stable is one of the main initial tasks for every new business owner. Since it takes time to get things going, this first period is very challenging. If you don’t stick to some austerity measures, you might drive your business into the ground.

Therefore, rookie entrepreneurs should be extremely cautious with their finances at the beginning of their business journey. We’ve put together several frugal strategies that will keep your business budget under control.

Extremely limited expenditure

Highly limited expenditure is the key to long-term business success. When you’re about to launch a small business, you might not even be aware of all the costs that you’re going to have. That’s why being extremely cautious with your business budget is a must.

In line with that, don’t splurge your money on fancy office premises or glitzy furniture. Save most of your earnings for further investments.

A rule of thumb is to invest most of your capital in growth. If you’re a solopreneur, make sure to pay yourself a salary to keep your personal finances in order, as well. It’s recommended to apply a conservative strategy to this matter. Just pay yourself enough money to make ends meet until your business takes off. What’s more, you’ll spend less money on taxes if you opt for a modest salary.

Strictly committed time

When you’re a small business owner, procrastination isn’t an option.

This might sound a bit harsh, but you should reduce the time you spend on social media. Separate your business profiles from your personal accounts on all such media. When you’re using social media as a business user, follow only your clients, partners, and relevant profiles from your industry.

Apart from that, eliminate all the daily meetings with your friends. During your working hours, your focus should be solely on your enterprise. Only when you finish with all these tasks should you do your private things. If we’re to believe most new entrepreneurs, they don’t have too much free time at all.

Being strict with your business time in the beginning is a huge asset for your future. Therefore, perform your business tasks committedly and you can hope for a successful entrepreneurial start.

Second-hand equipment

Most small businesses have a limited budget in every sense. Because of that, it’s advisable not to spend too many assets on your office equipment. For starters, you can get some used computers for your office. That way, you can equip your office with stronger machines and better configurations at the fraction of a price. Of course, make sure to buy these second-hand computers from a reliable source.

Similarly, second-hand furniture and office decorations will keep a few dimes more in your pocket. But first check out these items in person to avoid buying scruffy or broken furniture online.

Following these two tips will provide you with powerful but affordable computers and decent but economical furniture.

Affordable marketing

Thanks to the Internet, small business owners can promote their ventures in many creative ways. More importantly, it’s possible to do this online without spending a fortune.

For starters, you need to launch a Facebook business page. This should be a rite of passage for every modern small business. Using this social network, you can access a wide audience of potential customers across the globe. Conversely, you can also narrow down your target audience using dozens of different elements in Facebook ads settings.

Also, LinkedIn is the best network for B2B networking on the Web so register your business profile there, as well.

Finally, make sure to launch a user-oriented and visually convenient website. It should generate more customers without investing too much money. Also, launching a business app can generate more business leads, explains the Houston web application development crew.

Thorough and timely onboarding

Small business owners need to minimize their mistakes in everything they do. Every wrong move will cost you and you want to avoid this.

That’s why you shouldn’t hire people as long as you can deal with your workload on your own.

Employing people only to be a big boss is a completely wrong approach to small-business management. Also, it’s an expensive sport, especially if you’re not experienced in onboarding. Most SMB-owners don’t possess the necessary experience in that field. So, it’s better to accept only the projects you can handle alone. Only when you get into the tricks of the managerial trade should you start hiring workers.

Conclusion

Running a small business on a shoestring is a typical story for many new business owners. However, this usually changes as your venture starts making more profits. So, it’s vital to save as much as possible at the beginning to gather enough capital for larger investments in your startup. From limited expenses and full devotion to business to affordable marketing and smart hiring, you can economically grow your business.

Author Byline: Liam Collins is a tech pundit and Web enthusiast working at TuiSpace.com. He spends most of his time reading and writing about the current affairs in the world of information technology. When he isn’t working, he likes going for long bike rides and walks in nature.

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Benefits of Using AWS for Your Cloud Computing Needs Most of the businesses globally are shifting their IT infrastructure to the cloud due to the full range of benefits it offers, including accessibility, cost-effectiveness, efficiency, safety, and improved productivity. It is a trend that has been growing rapidly in the last few years and doesn’t seem to be slowing down. No business wants to operate or own servers anymore as cloud computing does the same job better and at a lesser price.

AWS or Amazon Web Services is one of the most preferred cloud computing services in the world today, preferred by many leading organizations globally. Even though AWS is reasonably priced, hiring an AWS professional can further help in defining AWS cost reduction strategies to save money and improve business profitability. If you haven’t started using AWS already, here are the few benefits you need to know about. 

Comprehensive

AWS has made it easier for its customers to migrate from onsite data storage to its cloud. With millions spent on training and education, AWS has in-depth tutorials, videos, and documentation on its platform that layouts the stepwise procedure to follow to move your data onto the cloud. There is also a partner network that AWS has been able to build in the last few years with which you can collaborate to make the transitioning process seamless, faster, and error-free. 

Flexibility

AWS offers unprecedented flexibility to its customers in the form of how they want to move, process, and store their data. Whether you are shifting to AWS for the first time or switching to Amazon Web Services from another cloud service, AWS has procedures in place to make sure your IT infrastructure is well-optimized and secure. Amazon Web Services ensures that the customers can scale up and down their requirements as per their business needs. 

Security 

AWS is amongst the most trusted cloud services in the world and adheres to strict security protocols and compliances to ensure the data of the clients is safe. The concerns of the businesses of data leaks and privacy breaches are not unfounded. However, AWS is continually upgrading its system as new technologies enter the market to ensure complete safety and security of the data it manages. 

Enhanced Productivity

Maintaining your IT infrastructure onsite can be daunting and expensive. Keeping the same on the cloud with AWS saves your company a considerable amount of time and money as it reduces the operational cost and the need to hire full-time IT support staff. In the long-term, it can prove to be cost-efficient for the company to move its IT infrastructure to AWS.

Innovative

AWS is driven by passion and innovation, and it is what has been inspiring more and more organizations and companies to choose AWS. The company has been innovating and revamping its services by adding new features and services year after year since its launch to provide customers with great benefits and better services. It is this dedication to innovation and commitment to excellence that has helped AWS became one of the leaders in the cloud computing arena. 

The pricing of the AWS services is already competitive, and hiring a certified AWS professional can further cut down your cloud computing cost. Consult with an AWS professional to know how AWS can help your business and what AWS cost reduction strategies can be implemented to bring down the AWS cost to fit your budget. 

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How to Find a Reputable Commercial Lender for USDA Business Loans The loan guarantee provided by the United States Department of Agriculture (USDA) to business owners in rural communities can significantly help in growing ventures and reviving economic activity in the area. The funding can be utilized for numerous business purposes, thereby giving entrepreneurs enough freedom to do what is necessary to improve their ventures. 

USDA commercial business loans have strict eligibility requirements for borrowers. For one, the company should be in a rural area with a population of less than 50,000 people. Since commercial lenders are the ones providing the money, the borrower should also have a solid personal credit score and steady cash flow. Collateral and personal guarantees are also fundamental requirements for USDA business loans.

If you think that your rural business meets the requirements for USDA business loans, the next step will be to find a reputable financier. Considering that numerous commercial lenders offer this government loan, you should consider the following factors when searching for the one whom you can entirely rely on:

Experience and Expertise

As mentioned above, loan guarantees provided by USDA have specific and strict requirements. Considering its complexities, you should partner with an institution with experience and expertise in handling this financing program.

Instead of relying on the first commercial lender that knocks on your door, you should take the time to search for one that exclusively handles USDA loans. Such a lender will have the experience and expertise in working with the USDA and in navigating the system to ensure you get a suitable deal.

Client Feedback

The best way to assess the reliability of a commercial lender is by checking customer reviews. You can do a quick search on the internet for testimonials and feedback on the lending company you are considering. Apart from delivering results, take note of how the institution is treating its business partners. You need a partner who will help you every step of the way and not just wait until you pay the loan.

Interest Rate

Considering that the interest rate will be the determining factor on how much you will end up paying for the USDA loan, you must ensure that your lender is offering competitive interest rates. Note that while the lending institution will be the one to determine this figure, the USDA sets maximum standards to ensure that the commercial lender will not go overboard.

As you try searching for a reputable lender, consider the interest rate quotation of each one. It is advisable to create a spreadsheet that will allow you to easily compare interest rates, monthly payment dues, and other miscellaneous fees. Make sure, however, that the numbers follow the same standard for accurate comparison.

Payment Schedule

Find a lending partner that offers flexible payment terms that will fully satisfy your financial requirements. Make sure to inquire if you will be required to pay substantial penalty fees for overdue payments or if you will get any allowance. Keep in mind that the USDA business loan is supposed to move your company forward; not hold you back with debt.

A credible commercial lender will be your partner in managing your business finances and in achieving your company goals. Given its role in the success of your venture, you should take the time to assess the factors mentioned above so you can find a financing institution that you can fully trust.

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Reasons You Should Invest In Gold Are you thinking of investing in gold and wondering about the gold price predictions?

Gold has a history that is unlike that of any other metal.

For thousands of years it has been placed on the heads of kings and queens, used as a currency and standard for global currencies, it has been the prize for champion athletes, and the list goes on.

What makes gold so valuable are its actual physical and chemical properties that make it the most malleable and ductile of metals. Add to that its aesthetic appeal, and you have an undeniable store of value. Below are a few reasons why you should consider including gold in your portfolio.

  1. Gold is a tangible asset

With gold, you have not only a tangible but strategic asset that is considerably more secure than any of your other assets. Most other assets, such as real estate will always be at the mercy of the elements, and as such, they are always at risk. Bank accounts can be wiped out by hackers. Gold, because of its nature, will give you peace of mind and the security that other asset classes simply cannot.

  1. It adds diversity to a portfolio

Gold allows you to diversify your portfolio by adding a tangible asset that can protect you from volatility because the factors that affect the returns of other asset classes both on a macro and micro-economic level do not significantly affect the yellow metal. Thus for the given returns from a portfolio, adding gold can help reduce risk.

  1. Can be a hedge against inflation

Gold has an inherent value that it has retained throughout the years, and this makes it a great store of value,particularly in inflationary environments.  As inflation rises and currencies continue to weaken, having gold as part of your portfolio means the value will be retained when other asset classes are recording losses. And with gold price predictions looking favorable at present, this may be a great time to invest.

  1. Gold is a scarce metal

Another reason that adds to the value of this precious metal is its scarcity. Estimations on just how much gold exists vary but the number is comfortably over 150 000 tons with speculation that the world would run out of mineable gold by the year 2035. That certainly is something that will help gold retain its value.

  1. Gold can provide liquidity

Unlike with most other assets such as real estate, gold investments can be liquidated considerably faster when gold price predictions are up. The advantage that gold has, except for sovereign bonds, is that it has no lock-in period like most other assets. For physical gold, the redemption amount will depend on its purity and other market factors, whereas for paper gold, the market price on the redemption date will determine the amount.

Investing in gold is a solid move

Finding a sure store of value is something that most people desire. The world of today constantly goes through troubled economic times and people are always on the lookout for ways that can cushion them against the next financial downturn. Gold is one such way that can be used to hedge against the volatility in the markets. Having been around as a store of value for thousands of years, it is unlikely that its status will change shortly.  If not for anything else, the diversity it will add to your portfolio is recommended. 

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Why You Need a Payment Processor Payment processing is crucial in the world of nonprofits. Therefore, whether you run a local organization that caters to a few thousand or a national organization, your team must be in a position to accept donations from various places.  That's why you need a reliable nonprofit payment processing system from companies such as Acceptiva.

Remember, donors should be able to reach out to their preferred organizations through their favorite means. Those means could range from a cash or check to debit and credit card. If your nonprofit isn't ready to accept donations through one of those ways, you'll miss out on valuable resources from supporters. Here's what you should know about payment processing.

What a Payment Processor Does

A payment processor is an organization that handles your online transactions. Therefore, payment processing deals with donation transactions between your donor's bank and the organization's bank. You need a nonprofit payment processing for your organization to accept online donations anytime and virtually anywhere worldwide.

Moreover, you can use a processor to sell merchandise such as bottles and t-shirts. A payment processor will prove useful when it comes to the collection of membership fees. Members can conveniently pay their annual or monthly fees online, giving them a huge audience.

Payment Processing

This term refers to all the backend steps that take place once donors begin a virtual transaction with a nonprofit. It encompasses the entire transaction process from the time donors submit their information until the donation reaches your nonprofit's account.

Similar to other organizations, nonprofits depend on a steady revenue flow to maintain its operations. You need some type of donation tools online and nonprofit payment processing is necessary for changing that online support into actual revenue.

You must consider the intricacies behind tracking and processing your organization's recurring contributions. Understanding how the transactions are processed and recorded will be vital if you need to alter your donation app or shift to a new platform. Moreover, processing your donors' personal information, and gifts is a necessary part of appropriate stewardship practices today.

Factors to Consider When Accepting Online Payment for your Nonprofit

Security

When donors make payments online, they'll enter their address, credit card number, and other billing information. You must ensure the connection is HTTPS, and the company handling the customer information is secure. If you opt for a less-known company, ensure they're secure with donors' data.

Branding the Payment System

Sustaining your brand during the donation process is vital. If your donate button, for instance, takes users away from the site, their trust levels might decrease. You want to maintain the feel and look of your website throughout the checkout process. Moreover, you want to ensure there's secure hosting.

Ease for Users and Compliance

Whichever solution you select, you want one that's seamless and easy for the accounting team and donor. Bear both parties in mind when setting up your nonprofit's credit card processing. 

How to Select the Right Payment Processor

Understanding the factors to consider when selecting a payment processor for handling your online donations is very crucial. Some of the aspects to consider include:

Contract Terms

Numerous payment processors have stringent restrictions or terms associated with the services they provide. Therefore, you must read the fine print before proceeding with any type of service agreement.

Customer Support

Numerous processors only provide a restricted degree of customer support as a normal offering. Some even charge for extra support. You must also find out whether customer service takes place mainly by ticket submission or email.

If you're seeking a reliable payment processing solution for your nonprofit, it's time you invested in one to reap the associated benefits.

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Uncategorized https://www.investwithpassion.com/blog/why-you-need-a-payment-processor/ https://www.investwithpassion.com/blog/why-you-need-a-payment-processor/ Editor Wed, 27 Nov 2019 08:49:32 -0500
An Unconventional Investment Channel

Investing your hard-earned money is just as hard as earning and saving it for good reason. With the increasing cost of living these days and the increasing number of expenses to think about and pay for, it is hard to set aside and save a part of your salary for savings and investments. Because it is not such a walk in the park to save up a pretty good value to start investing with, you should really be careful and choose wisely on which investment channels and platforms you would like to place your money in. You would not want to lose your money, right? With all the different types and forms of investment sprouting every now and then, what exactly is the best way to invest money? In essence, you would want to invest somewhere that would allow for your money to grow in value, so you might think that investing in something that just depreciates in value over time is definitely out of the question. But with the current trend in this fast-paced world we live in right now, that is where you just might be wrong.

Need for Speed

In the United Kingdom, almost all households have a car to drive around with. When you have a car of your own, you can travel more freely and in more comfortable overusing public transport. Most people of age in the UK have a driver’s license, but it does not necessarily mean that they own a car for the simple reason that it is not always affordable. This holds especially true for people who have a bad credit rating. No matter how much they would like a car to use for their own convenience, it may be nearly impossible for them to take out a car loan, and simply just hard to lease one out. That is where you, as an investor, come in.

Buy2LetCars

Buy2LetCars is an investment company which was established in 2012 in partnership with Wheels4Sure. These two companies offer solutions to investors and individuals who were greatly affected by the 2008 banking crisis. Buy2LetCars was set-up for investors who are having a hard time to look for reliable investment channels which would give a reasonable rate of return for their money. While Wheels4Sure, as a partner company, provides individuals with the opportunity to have a car of their own regardless of their credit standing. When you invest with Buy2Let Cars, you would be investing in the car units that would be used to lease out through Wheels4Sure. Since there is a high demand for cars as a deeply sought out mode of transportation in the UK, it is a wise investment to make regardless of the depreciating value of cars.

Monthly Income

Investing with Buy2LetCars means that you will receive a monthly income immediately after you have chosen to invest with the company. A typical investment will run for three years, the same amount of time a lease term would also run. If for example, you have £14,000 to invest, you would be investing in a single unit, or one car, to be leased out to through Wheels4Sure. In a span of three years, your £14,000 would be returned to you along with a total gross gain of £3,079.72 with you just doing absolutely nothing. Each month for three years, you would get a monthly payment of £250, and on the 37th and final month, you would receive a gross monthly payment of £8,080 where the interest rate of return per annum at 9% IRR is already included. The beauty in a monthly pay-out is that you would be able to use the money immediately on urgent matters, living expenses, or maybe even on new investments that would allow for your money to grow even more in value.

Passive Income

With Buy2LetCars, you do not have to manage the investment on a day to day basis like with other investment channels such as placing money in the stock market. Buy2LetCars will have full control over your investment, but you do not have to fret about it because, in the case of bankruptcy, you are guaranteed to get at least 85% of your original invested value. This also means that you would easily earn monthly on a monthly basis without having to lift a finger or think about any decision that would allow your money to earn an average of 7% to 11% IRR per annum.

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Uncategorized https://www.investwithpassion.com/blog/an-unconventional-investment-channel/ https://www.investwithpassion.com/blog/an-unconventional-investment-channel/ Editor Tue, 26 Nov 2019 22:21:02 -0500
Hiring the Right CPA Has Everything To Do With Moving Your Business Finances Forward How do you know you have hired the right accountant? What prompted you to hire one? Perhaps your business has grown, and you're thinking about your balance sheet and taxes. That's a good start, but there is much more on your plate than that. You want to make sure you have reached out to the right CPA, one who is experienced in helping professionals get in complete control of their finances.

You may or may not have debt to manage, and do you have your child's college education to plan for? Do you plan to buy a home? As a self-employed individual, how are you doing when it comes to saving for retirement? The more you build, the more difficult those numbers are to crunch. All that planning takes time, too, and that's why people reach out to certified public accountants.

When hiring an accountant, you need to be sure that you have selected a professional that is going to cater to your needs; each penny counts! Check their website, like that of https://ramonortegacpa.com/ for what their specialties are to make sure they are a right fit for your situation. Experienced accountants know how to provide the right guidance so that you're making the most of your financial situation. Each individual's financial picture is different, and you want a CPA that is going to listen to your needs and help you plan your path forward.

There can be a rather big difference between accountants and CPAs. In this case, you're looking at hiring a CPA, so what you're going to get is a super accountant. These professionals address every aspect of your business and your personal financial situation. If you want to explore every nook and cranny of business growth, taxes, savings goals and more, you need a CPA.

A regular accountant might not cover all of those bases according to your expectations. You want to get your money's worth. The truth of that matter is that it's not about what you pay the accountant. It's about everything he or she does for you to save your business money and help you manage your company finances appropriately.

Taxes can be a complicated matter to be sure. When you hire a CPA, you're saving yourself the time having to deal with all of that. You could pass the buck to an employee at your company, but if that person isn't a CPA, well, that might not work out too well. With a certified public accountant hard at work for you, you're going to know that your financial situation is as good as it gets.

You do have to pay more for a CPA than a regular accountant. But you can sit down for a consultation with one of these professionals to discuss your financial situation. They are well versed in getting to the meat of the matter, discussing your needs and working out a game plan. If you want one of the best financial professionals helping you organize your business money matters, then you have made the right decision. Find the best CPA in your local area so that you can get down to business.

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Uncategorized https://www.investwithpassion.com/blog/hiring-the-right-cpa-has-everything-to-do-with-moving-your-business-finances-forward/ https://www.investwithpassion.com/blog/hiring-the-right-cpa-has-everything-to-do-with-moving-your-business-finances-forward/ Editor Mon, 18 Nov 2019 22:33:10 -0500