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Posted in Family Business

Trading Real Estate Properties to Keep The Taxman At Bay

If you are thinking about selling real estate property you should know that capital gains tax applies. Capital gains tax is charged on the profit you make when selling a real estate asset for more than you spent acquiring it. When you do sell a property, a lot of your income will be taxed. Fortunately, there is a way you can hang onto your money. Trading property real estate keeps the taxman at bay within the letter of the law. All you have to do is trade real estate properties through a DST (Delaware Statutory Trust) 1031 exchange. You can defer paying capital gains tax on a like-kind exchange, as long as certain criteria are met. If you have ever exchanged basketball cards, you are familiar with how things go.

 

Why a Trade Is a Good Idea

A 1031 exchange – or a like-kind exchange, Starker – is an investment tool largely used to defer paying capital gains tax. It was named after the section 1031 of the Internal Revenue Code and it implies trading a business or investment asset for another. There is no doubt that it sounds tempting, but is the 1031 exchange worth the effort? Of course, it is. A like-kind exchange offers you the incredible opportunity to avoid paying the capital gains tax associated with selling a real estate property. If you are a real estate investor, you will be able to balance your portfolio right away.

Delaware Statutory Trust for a Trade

DSTs can be successfully used to do 1031 exchanges. A Delaware Statutory Trust is basically a business trust that can be used for holding title to investment real estate. Although the business trust was created under the Delaware law, it does not necessarily have to be established in the state of Delaware. It is very similar to how a Limited Liability Company functions, the only difference is that it qualifies for a like-kind exchange. The best thing for you to do is buy beneficial interests in a Delaware Statutory Trust.

Rules about the Trade

To complete a like-kind exchange, you have to meet certain criteria. Here is a brief description of the various requirements:

  • Invest For Business Purposes. A Starker is not for personal use. Section 1031 is used for business and investment property. It is not possible to swipe a primary residence for a vacation home.
  • Property Identification and Replacement. Upon the closing of the first property, the exchanger has 45 calendar days to find a replacement property. No more than 180 days later, a property must be purchased.
  • 3 Property Rule. Investors can identify up to 3 replacement properties. Obviously, not all of them will be used in the trade, but they are necessary as a backup.
  • Attention Should Be Paid To Mortgages. The mortgage loan will be considered and treated like cash income.

The bottom line is that exchanging real estate properties is not child’s play but you can dodge the taxman. It is important to have a clear understanding of what you are getting yourself into, though, before taking action.

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Posted in Family Business

Find the perfect saddle pad for your horse

Find the perfect saddle pad for your horse

When you have a horse, you consider it part of the family, and you want the best for him. Therefore, you want to make sure that you buy the best accessories, because not only you have to feel comfortable while riding him, but he also has to feel ok in order to behave properly. When it comes to saddle pads, you can choose from different options available on the market, so you only have to take a look in online stores and decide which one of them you prefer. You will find online pads that feature gel, cotton, wool or foam, so you have to research in order to decide which one is the right one for your horse. If you pay attention to some tips, you will find if you need to buy fur lined saddle pads for horses, or other types of pads.

 

Check the material

The material of the saddle pads are an important aspect to check when you purchase them. The majority of saddle pads feature a fleece bottom. You have to check the quality of the fleece if you opt for this option, because sometimes the chemicals from the horse’s sweat can affect the material, and the pad will become unstable. You also have the possibility to buy felt pads, because they come with the great benefit that are able to draw sweat from the skin of the horse and they transfer and dissipate the heat in the felt.

The shape of the pad is important

In this case, you will have to pay attention at the way your horse looks, because different types of horses have different bodies, and you have to choose the right type for yours. You can buy a contour one, if your horse has prominent withers or a slight dip in the back. If you have a horse with a normal wither, then you should buy a straight saddle pad. In case your horse has a short back, then you should buy a round skirt saddle pad. If you have a strong-shouldered horse, then you should take a look at the orthosport models of saddle pads, because they feature a second layer of padding. They are great because they assist the distribution of the pressure on the back of the horse, and achieve a better saddle fit. When you visit a specialised store, you will find there all the details you need to know to buy the perfect saddle pad for your horse.

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Posted in Family Business

Business or leisure travel, airport car hire services are the best. Here’s why

Business or leisure travel, airport car hire services are the best. Here’s why

 

While traveling, some find it inconvenient to take their cars as well. Because of this reason, airport car hire services are more than welcomed.  If you look where you should, you can easily find cheapest car rental Manchester airport, and while many find them convenient, these services come with plenty of other benefits for those choosing this option. But let’s have a glance at the advantages of these services in the following paragraphs.

1. Have it waiting for you

Hiring a rental car is a convenient option, since you can have it waiting for you at the airport, at the set date and time you need it. Rather than asking someone to come waiting for you and creating an unpleasant situation for all the parts involved, it would be better if you would simply hire professional services. Also, there is always a chance that that particular someone you wanted to ask for a ride from an airport is busy on that particular day, and you remain without options in this case. It would be best to hire an impartial party and solve the problem easily.

2. There are plenty of options in terms of cars

Regardless of the size of the group you travel in, a car rental company will be able to offer a wide variety of options for you. Large groups, obviously need larger cars, while it would be pointless to hire such if you are traveling with only another person. Make sure you search for options previously in order to find the alternative that fits your necessities best. Perhaps one company is not able to provide those for you. Move on and keep searching.

3. Avoid unpleasant situations

The last thing you want while traveling is a car breakdown. You want to each your destination fast and safe, and this is not a fit option for you. Make sure you find a great collaborator and you will have all the safety you need. Such companies have reliable vehicles, with all service check-ups to date, and chances for an unpleasant situation to appear while hiring them are slim to none.

Make sure you consider this kind of services for your travel incursions no matter they are for business or leisure purposes. Only work with the best companies and you will have a great experience.

 

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Posted in Family Business

What You Need To Know Before Betting On Horse Racing

What You Need To Know Before Betting On Horse Racing

 

Horse racing is a serious business, which is why anyone wagering on the sport of kings can make big profits. Betting on the outcome of a competition is both profitable and fun. Seeing your hack pony run and actually win is something unique. If you plan to wager on the outcome of a formal competition, you should not expect your horse to be as fast as lightning and finish first. Before you can pick a winner, you need to know the basics. Horse racing betting forums bring you the latest news and winning tips, but they do explain the basics. If until now you have been a casual observer, it is worth keeping in mind the following things.

Winning at Horse Racing Is a Matter of Statistics

When it comes to sports betting, statistics do matter. Punters take it for granted that they need to learn about statistics and, consequently, they are not successful. What you should know is that many factors influence the result of a horserace, the most important ones being the form of the stallion on the day of the competition and luck in running. The shape of the hack pony varies according to the racing day. Just like Messi can have a day when he does not perform as he normally does, so does a horse. Other factors you should not neglect are the track, distance, jockeys, trainers and the level of competition. Statistics provide you essential information and the good news is that they are freely available on the Internet.

Pay Attention to Horse Race Handicapping

Handicapping implies picking a winning racehorse. As you can imagine, this is an art and not an exact science. The handicapping factor tells you how a hack pony ran in previous races. While some bettors rely in past performances, others consider pedigree. Unquestionably, there are other ways to handicap a horse, some more innovative than others. It is important to pay attention to the fact that sometimes the least favourite horse wins the race. Do not automatically bet on the favourite.

Know Your Horse Racing Bets

In horse racing betting, there is an option called each way betting. Each way betting comprises two parts: win and place. To have a return, your selection has either to win or finish in one of the predetermined places of the competition. Since there are many markets, you have to carefully do your research.

 

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Posted in Family Business

Wedding catering – aspects you need to know

Sometimes people have the misconception that the most difficult part when planning a wedding is to find the venue. Well, the fact is that, this is one aspect you have to check on your list. When talking with the venue provider you will probably find that they do not offer catering services, so you will have to start looking for a different provider. Also, some venues provide these services, but the menu options are too expensive, or you do not consider them suitable for your event. It does not matter what the reasons are, if you have to catering equipment hire South London, you have to do thorough research from the beginning, to know exactly what this implies.

 

What does booking a wedding caterer involve?

If you choose a good caterer, it will be a really straightforward process. There are companies that provide even full event planning services alongside with catering, so they will offer you support in whatever aspect you might need. When you book a caterer you should expect to find there professionals who try to get an idea on what you like or dislike. Be prepared to answer them many questions. Depending on the company, you can talk with one of their experts on phone, or you can meet them in person.

What do you have to ask them?

The first thing you have to ask them is if they are available on your wedding day. Also, you should ask them if they work with the venue you have chosen. It is recommended to ask the venue offer you a list of caterers they collaborated before. In case you want a specific menu, you should ask the caterer if they are specialised in that type of cooking. It is important to ask the costs of the services upfront, because you have to know from the beginning if you afford working with them.

What menu should you go for?

If you do not want a specific type of food, you should know that the majority of catering companies are able to deliver current menus. They will offer you a list with menus they offer, and you have the possibility to modify them according to your preferences. Keep in mind that you should be the one that choses the meals, because if you allow your guests to do it, you will end by crossing your budget. In case your guests have dietary issues that prevent them eating certain aliments, you should inform the caterer.

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Posted in Family Business

How can a family business deal with unpaid debt

How can a family business deal with unpaid debt

Sometimes clients pay when it is too late, this being the preferable scenario. Unfortunately, clients are not always responsible and they do not pay the invoices you send them. If you are running a commercial organisation in which decision-making is affected by family members, you know that you cannot manage if you do not receive payments for the products or services provided. One of the most important responsibilities is managing cash flow and make sure that you are paid. When it comes to collecting overdue accounts, you have to put your faith in debt collecting agencies in London. They know perfectly well how to recover money that is owed. Nonetheless, if you want to take matters into your own hands, you can use the following strategies. They are guaranteed to work.

Write a reminder email

Maybe you do not want to disturb your clients, even if they refuse to pay their invoices. If you genuinely want to pursue the friendly path, you can start by sending a reminder email. What you have to remember is that customers are more likely to respond to email than incessant phone calls. When writing he message, you have to be at the same time polite and direct. If your first demand is not successful, you can send another one.

Locate the debtors

Unquestionably, the first thing you should do is locate the clients that owe you money. While this may seem like a difficult task, you have to do it. Family-based businesses with huge amounts of debt struggle and a great number actually do not survive the first years due to the inability to collect debt. So, how do you find the deadbeats? Well, in order to get ahold of debtors, you have to get updated client information. The likelihood is that you will not find out much by Googling their names, maybe is there are any complaints. The only thing you can do is search through databases of consumer information.

Try renegotiating the debt

Maybe your clients are not paying their invoices because they have the money to make a full payment. This is indeed an unfortunate situation, but you still have to get your money. Instead of applying pressure, put yourself in their position. Nobody wants to be labelled as a debtor. What you can do to recover the money owed is to negotiate the bill, in other words make a financial arrangement. This way, you are sure to get paid.

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