Archive for the ‘Taxes’ Category

Umbrella Companies: Preparing You For The Tax Storm}

Submitted by: Ed Lebbon

Tax, taxation and tax affairs simply put are deemed as the most difficult to handle in companies. Big or small, private or public, companies do a great deal of paperwork over tax affairs and accountancy issues. This is where umbrella companies step into the picture.

Tax, taxation and tax affairs simply put are deemed as the most difficult to handle in companies. Big or small, private or public, companies do a great deal of paperwork over tax affairs and accountancy issues. This is where umbrella companies step into the picture.

What exactly are umbrella companies and how do contractors benefit from such? Basically, we provide services set by their contractors. We act as employers to the contractors who have a signed agreement under a contract. These umbrella companies also process payrolls for contractors and aside from that they also offset expenses against the contractors tax incurred by the business. These expenses include but are not limited to accommodation expenses and travel expenses.

Benefits of these companies are exactly the same as any other employment rights in a direct employment relationship. Aside from being entitled to paternity and maternity leave, auspices of benefits also include entitlement of contractors sickness leave. Other advantages of umbrella companies are as follows: no worrying over expenses or taxation’s which in turn eliminates legislative concern over the IR35, opportunity in investment of training courses and pension schemes plus greatly reduce amount of paperwork. Other benefits also include accommodation and food allowances, travel and mileage expenses plus insurance to cover for the contractors. The great thing about them, salary is never delayed because everything is done on time to make sure everyone is paid on time.

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What else do they do? They act out as an intermediate between the agency and the contractor. Essentially, they keep each party happy by making sure the agency pays the client and contractors dont lose out on benefits. Aside from holding up the end of tax affairs also protect contractors interests meaning you never get exposed to the wrong end of the law.

Exactly why do people then choose to go work for umbrella companies? Offers independence and freedom which is not easily done by individuals who have no experience whatsoever in accounting and even in filing tax returns. Tax affairs are indeed taxing thus they do the better and efficient way of handling tax.

They assure that everyone is always in touch with the cash they work hard for. They ensure that you can claim all expenses back as long as you are entitled to it. Contractors and umbrella companies form a partnership unlike any other. Provided that correct receipts are handed to them for all expenses then to do all the job of reclaiming the money. No stress on your part whatsoever.

As mentioned above, they greatly take the load of your shoulders by doing all the necessary paperwork when it comes to tax affairs and accounting issues. Contractors can relax and have a peace of mind knowing that all their tax affairs are in good hands.

We are definitely an effective and efficient process to manage your tax affairs but ensuring the appropriate structure of your business is quite essential as well. So if umbrella companies are what you are looking for then look no further than Access-a.

We provides you with easy to understand and impartial advice. At Access-a, were dedicated to work hard simply to ensure you are tax-efficient. Apart from that, We ensures you reclaim 100% of the expenses your business has incurred for no additional charges and tax. Maximum satisfaction is Our aim is alongside maximum income. We provide you with the best answers in maximizing income in the best legal, highly professional and tax-efficient manner.

We make use of a Faster Pay system so no delays in payments are ever made. Aside from providing you with umbrella companies to help you out in tax affairs, we make sure that all work records and expenses are collated along with past plus present pay slips. All payments are also monitored be it payments made, payments received or payments due. We offer a maximum net pay of 81%.

Our company with over more than 15 years of experience in handling tax, taxation and tax affairs assures you are given the apt service with our user-friendly portal that is ready to serve you 24-hours a day.

Take the load of your shoulders and avoid administrative hassle, umbrella companies is the answer to all your tax affair needs. Access-a handles it in the most tax-efficient way possible.

About the Author: Ed Lebbon is the owner of Access-a Umbrella Company, Access-a is an umbrella company offering the benefits of a limited company without the administration or statutory responsibilities. To know more about Umbrella Company visit our website

access-a.co.uk/

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Doing Your Business Franchise Research

Submitted by: Matthew Franchise Anderson

Before anyone embarks into franchising, the followings are some cautionary thoughts to be considered, with due consideration and the right due diligence, purchasing the right business franchise can be a game of experience and research and not that of pot luck;

To the Prospective Franchisor

Franchising is no miracle cure. If the product or services is not competitive, franchising will not make it in the market so;

The effects of a successful formula may wear off. Changes in consumer preferences or technical progress may necessitate adaptations in the franchise system;

What works in one country may not work on another. A thorough feasibility study will show the prospects of successfully transplanting a product or service.

But, conventional wisdom about what will not work maybe wrong. (Remember, many people thought that hamburgers would never sell in China and Japan!);

Success in franchising takes time. The high up-front costs of a franchises can mean that it may take longer to become profitable;

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Franchising requires continuing initiative and commitment of franchisor’s resources. Franchisors that do not adequately support and control their franchisees are asking for trouble. It is safer to recruit franchisees through a well-targeted campaign than to rely on unsolicited applications;

Franchising requires dedicated staff at headquarters. The managers of the franchising effort should not be distracted by other responsibilities. Depending on the nature of the business, they should be prepared to spend much of their time on the road inspecting and helping franchisees.

To the Prospective Franchisee

A franchise does not bring automatic business success. Although the average franchisee’s start-up is much more likely to succeed than that of other businessmen, but to ensure this, he must contribute four critical elements:

Thorough preparation,

Eagerness to learn,

Adherence to the “system”,

Hard work

The largest and best-known franchisors are not necessarily the best to do business with. Being one of hundreds of franchisees carries less weight than being one of a much smaller circle, but in term of economies of scale, there is no advantage in being one of a few franchisees of an unsuccessful franchisor;

Franchisees are and are not independent businessmen. They operate their own business, but they commit themselves to doing this according to someone else’s rule. But, they assume risks and their business may fail, even though other franchisees may prosper;

The first franchisees in a country where franchising is not well known may have to cope with ignorance, or even hostility, from several sides:

Government ministries,

Competitors

Customs authorities

Legislators

Banks

The right diligent research and a dedication to detail can have you making an informed and correct choice when buying your franchise, a wise investment for your money instead of throwing it down a black hole with some un-viable business opportunity. Remember that you are not going for a job-interview but interviewing the franchisor to see if their business franchise is a suitable investment for you. Of course, they also want a suitable candidate so be prepared to answer their questions also.

About the Author: Matthew Anderson is a franchise article author and advertising manager for

business franchise

opportunities on the UK’s largest franchise directory

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Did The Irs Actually Help This Tax Season?

Submitted by: Lance Green

Now that the dreaded tax season is fully upon us, it would be a good time to reflect upon the actions of the IRS in the lead up to this troublesome time of the year. Early in January of 2009 the IRS quite clearly stated in a press release from Washington that they were going to take some sweeping steps. These steps would be designed to alleviate many of the problems faced by tax payers, and were especially targeted at those who faced back taxes. Additionally, the IRS promised a speedier turn around for payments and extra measures put in place to help tax payer get the maximum tax refund possible.

One of the main changes the IRS implemented this tax season was to give their employers greater empowerment when dealing with problem cases. This included postponing collection measures being instigated against tax payers who were facing financial hardship during this time of global difficulty. Dilapidating illness and several other serious issues were also cited as being acceptable reasons for IRS staff to postpone the tax collection procedure. In reality it appears that IRS staff were unable to deal with this increased level of responsibility, and many tax payers have been quick to complain that their hard luck was simply brushed aside when dealing with customer facing staff within the IRS. Quite clearly this new measure that was introduced to help tax payers caused a significant amount of frustration as tax payers with problem cases once again faced a brick wall. They came expecting sympathy and an understanding ear and met with the usual IRS bureaucracy.

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In a similar fashion to the greater empowerment of IRS staff to suspend tax collection, a second scheme was put in place to deal with those unlucky individuals who were failing to keep up with an already active instalment agreement. Staff were directly empowered to allow for the occasional missed monthly payment, or even to lower the monthly repayment in problem cases. Once again this failed to reach the tax payer, as IRS staff seemed incapable of forming a fair opinion of just what constitutes a problem case. Instead they simply chose the safer side of the fence and refused to help many tax payers facing financial hardship.

Where the tax payer did benefit quite clearly was in the area of increased tax benefits. The IRS obviously spent a considerable amount of resources in highlighting taxes that were draconian in both the method they were applied and the amount of tax relief they gave. Possibly the most innovative of these changes was the new way in which mortgage workouts and foreclosures were to be handled. Obviously there has been a steady rise in foreclosures in the USA as a direct result of the depressed economy. The IRS presented a new tax relief package that did much to help home owners in this situation.

When the IRS came forward with their bold new plans for helping American citizens early in January they made big of the fact they were going to streamline the whole taxation process, providing a much more sleek vehicle for filling and receiving refunds. Overall the new e-payment and e-filing options provided did a fine job of speeding thins up, although it should be noted the IRS failed to hit their target figure of as few as 10 days turn around in most cases.

Overall the IRS made some grand gestures for the 2009 tax season, even though many of them fell short of the promised mark. Hopefully by 2010 tax season the IRS will have refined most of these new processes and we will see a much easier tax season for most US citizens.

About the Author: Need Some tips? Tips on finance, travel, cars, computers, and shopping. Visit

successbizsite.com

. Lance Green

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