Glenn Sandler (CPA) of G.I. Tax Service Lists Tax Questions to Ask Your Accountant

A good CPA is invaluable when it comes to organizing your finances, and this is never truer than when it comes to the area of personal taxes. Here, Glenn Sandler, CPA founder of G.I. Tax Services lists five questions to ask your CPA that could provide substantial benefits for your finances well into the future.

Glenn Sandler (CPA) of G.I. Tax Service Lists Tax Questions to Ask Your Accountant
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What Information Do I Need to Keep?

In the world of taxes, paperwork is ubiquitous and keeping your head above water entails knowing exactly what documents you need to keep and which you can dispose of. Your accountant will let you know the difference between the two and will even serve as a reserve for your information. A clear picture of your financial information will help the CPA optimize the assessment statements provided to you.

How Can I Save More on My Taxes?

This is perhaps the question that is the most commonly asked of CPAs. Ultimately one of the most critical times of the year for an accountant is tax season, and they can help you leverage your situation to find numerous tax breaks. By speaking with your CPA, you will be able to find out if you qualify for any deductions or special credits and how you can claim them. On occasion, the accountant may also be able to find unique tax advantages based on your purchases and investments.

What Direct Business Expenses Can I Deduct?

In a business, several expenses are often incurred and more often than not, some of those expenses can be deducted when filing taxes. Ask your accountant which of your expenditures can be classified under business deductions. Usually, these deductions may be for costs of services that you’ve provided, equipment that was needed for your business, transportation costs, and others.

Is There Anything I Should Do to Increase My Savings?

One of the most important things to discuss with your CPA is how you can maximize the amount of money that you are putting away. By asking your accountant how you can increase your savings, you will most likely receive advice ranging from buying more efficient equipment to lower your electric costs, to the more financially related portfolio options you may want to become involved in. Savings can be interpreted as both those related to taxation as well as those related to fiscal planning. Your CPA will be able to help you with both.

How Can I Better Manage My Cash Flow?

A positive cash flow is essential for any business, and it is something that your accountant can certainly advise you on. By looking through the amount of money brought in and the amount that flows out, your CPA can analyze areas where you can improve or cut back spending. You may have overlooked a cash flow tendency and your accountant will be able to help you understand how to better manage these issues.…

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DiversyFund Looks at Long Term Investment Strategies

Long-term investments are the ones that cannot be easily liquidated at a moment’s notice or used for day-to-day expenses. The typical long-term investment is held for a year or more, sometimes with the expectation that the investment will never be sold. DiversyFund is a company dedicated to helping everyday people build wealth like the 1%. Below, DiversyFund’s founder and CEO, Craig Cecilio, shares more about long-term investments that offer diversification to your investment portfolio.

Investing in real estate is an excellent option for long-term investment.  The typical real estate investor purchases a property and holds it for an expected increase in value or rents it out using the rent to bolster his or her income.  Real estate that has been purchased through a retirement plan is also held for a longer period of time in order to realize a higher profit.

For those interested in investing in multifamily real estate, many investors end up buying into Real Estate Investment Trusts (REITs). Some firms pay out dividends, but DiversyFund has a different philosophy with their private REIT. “Instead of paying dividends, we focus on accelerating the growth of wealth by reinvesting the money. We focus on growth and taking advantage of compounding interest to build wealth over the foreseeable future,” stated Mr. Cecilio.

When done well, investing in real estate is one of the most profitable means to build wealth. You can benefit from tax deductions, appreciation of your asset and have a steadfast method of protecting yourself from inflation.

Investing in stocks is also an option for long-term investment.  Stocks have a tendency to fluctuate in value and the ability to bounce back from a drop in value provided that enough time has passed.  Investing in stocks is a popular path due to the quick pace of growth experienced by certain stocks.

Investments, whether they are in bonds, stocks, or real estate, can either go up in value or down in value.  An investor can guess what the behavior of a particular investment will be, but he or she cannot guarantee it.  Therefore, many investments perform better over time since they have an opportunity to weather any rough spots in their growth.

Inflation can have an adverse effect on long-term investments.  Every year, inflation eats a bit more into your money, taking away something that will be missed, but never replaced.  To counteract the adverse effects of inflation, an investor can choose long-term investments that target higher rates of return.

About: DiversyFund was founded to help everyday investors build wealth like the 1%. The company opens up real estate investing to the average person by breaking down traditional barriers to entry such as high minimum investments and unnecessary broker fees. Through their online platform, they are helping investors diversify their asset portfolio beyond stocks and bonds.

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Reaching The Risk Capital Investment

A lot of people these days are trying to start their own business. However, there is one constantly persistent problem, which haunts the dreams of everybody – where do I get money?

There are a lot of opportunities, and most head for the so-called Venture capital or Risk capital investors, who are ready to feed you with a hefty amount of money, provided that you appeal to them. This is no easy task, and you will probably have to wage bloody competition with around a 1000 other enthusiasts. However, once you are in for the interview, you have a real fighting chance.

Reaching The Risk Capital Investment

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The first step along the way is application. This is the biggest fight, as you will most commonly not have any social interactions with the investors at this level, and you will need to prove that you are good only in text and video form.

You should prepare your business plan well, lay it out in as little words as possible, and make sure that you are not selling monkey diapers, because we all know this idea failed a long time ago. A good YouTube clip is always a great idea, because they would like to see your face and hear your voice.

And that is it – you are called for an interview, you are set, you are the greatest!

Well, it does not work like that. Even if you manage to fight off the first 900, you will be called to an interview with about 100 more participants, and you will need to face your greatest fear – the investor, who has no idea what you are doing, but he read money somewhere along the lines of your application form.

This time around, you will need to be concise and short about what exactly your company is going to do and make sure you have projected your financial operation for at least the next year. With a lot of luck, you are in the final twenty, who will get to make their pitch.

The last part might be against the fewest teams, but it is the hardest, because you will need to explain your idea, your business plan and possibly even your family life in as much as 3 minutes. Afterwards, in the next 15 minutes the investors will make sure they crucify you with questions, most of which you have already answered, but they aim to confuse you.

You do not have to be prepared, you just need to be as calm and confident as possible. Even if you fail, many do on the first try, at least you will know firsthand what you are up against.

Obtaining the risk capital investment is definitely no easy task and you will see that you are not up for the job on your first try, unless you have already worked in the field as an employee, and you have studied a lot.

However, with experience comes power, and if you really believe that your idea …

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The Best And The Most Appropriate Way To Apply For The Real Estate Loan

A real estate project is important to you and you are looking for a financing that allows you to realize it? Finding the credit offering the best real estate rate and the best conditions is therefore very important. And it is by looking after your borrower profile that you will get the best financing proposals. Indeed, banks are more likely to grant mortgage loans to clients with a reassuring profile. To help you convince banks to finance you, the Credit Guide gives you 5 tips for valuing your loan application. There are numerous credit loan company singapore loan providers out there. In order to know more about them you canal ways look them up via the internet.

The Best And The Most Appropriate Way To Apply For The Real Estate Loan

The advice of the Credit Guide to borrow well

Before applying to a bank for financing for your real estate project, it is advisable to take care of your credit application to convince the lender of your ability to repay the loan. Indeed, the more you show paw, the more likely you will be financed and the best conditions. When, conversely, a bank considers that the risk is great to finance a particular borrower, it applies a significant interest rate to try to cover the possible losses following the break of repayment. It’s up to you to present yourself in your best light!

Focus on the stability of your work situation

It is undeniable that banks prefer borrowers on permanent contracts, but if you are on fixedterm, temporary or professional, you also have all your chances of obtaining financing if you justify a stable job. Indeed, banks are more conciliatory when they have proof that, admittedly, your income varies, but they remain nevertheless regular. If you are on a permanent contract, wait until you have validated your probationary period before applying for a mortgage. Banks will also appreciate your seniority in your position.Some banks may take the variable part, provided they receive at least 3 years of bonuses.

Highlight your savings capacity

Do not hesitate to highlight all your savings made up to that point. PEL, CEL and even investments such as life insurance are reassuring for your ability to save. A good manager copes with his daily expenses and even manages to save money for future projects.

Sanitize your bank accounts

Before applying for financing, consider cleaning up your accounts. Discoveries, rejection of withdrawals or other banking incidents are to be avoided. The better your accounts are managed, the more likely the bank will be to accept your application for funding. If you have had lows in the course of the year, this does not prevent you from raising the bar for a minimum of 3 months to present healthy bank statements to the bank you are applying for credit.

To sell off your consumer credits

The fewer loads will lead to a larger budget to devote to your real estate project. That’s why it is advisable to pay off consumer credits in progress before applying for a mortgage. In the case …

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Finance Executive, John Sykstus Lists Five Reasons Your Business Needs to Invest in an ERP System

So, what exactly is an ERP? Good question! An ERP is a type of business software known as Enterprise Resource Planning. This type of system is an invaluable resource that can be implemented in various industries to improve accuracy and streamline many of the day to day tasks that businesses and employees are faced with. In today’s world, it can be tricky to determine if the latest in software is worth the investment or if it will be beneficial for your business on a long-term basis. By understanding the numerous advantages associated with ERP systems, you can determine if it is a worthy investment for your company. Below, John Sykstus, a financial strategist with 25 years of experience helping businesses realize growth potential, lists 5 reasons why your business needs to invest in an ERP system:

Finance Executive, John Sykstus Lists Five Reasons Your Business Needs to Invest in an ERP System

1. Improve Company Wide Collaboration

Tired of waiting for information from inventory to make its way to accounting? With an ERP in place, all this crucial information is available to those who need it at any time. The ERP system calculates and displays data in real time, which means that everyone is on the same page. This allows managers to make informed decisions and eliminates any mistakes as the result of miscommunication between departments or human error during data entry.

2. Evaluate Your Company’s Strengths and Weaknesses Quickly

Aside from increased collaboration, having access to company data in real-time allows senior management and business owners to identify any problem areas quickly. Instead of evaluating the overall health of your business quarterly, you can check in on every aspect, from expenses to accounts payable information, as often as necessary. This helps you see your strong points and address any areas of concern before they become a significant problem.

3.  Improve Marketing Efforts

An Enterprise Resource Planning system allows you to track your customers or clients from the start of their exploration with your product or service all the way to a purchase. This is valuable information that can improve your marketing campaigns and, in turn, your return on investment (or ROI). This type of information on your clientele also proves to be helpful when tackling customer service issues, as it allows your customer service representatives to have a better understanding of each client.

4. Free Up Employees for Other Tasks

Just imagine how much your employees could get done if they were able to eliminate tasks like data entry. An ERP intuitively calculates data related to your business without the need for employees to spend hours entering tedious figures into the system. In turn, employees are free to focus on other responsibilities. This can improve their productivity and eliminate any common mistakes that are made during data entry.

5. Protect Valuable Company Data

Instead of utilizing several different platforms with varying degrees of security or trying to merge information from each source, an ERP system combines all your data into one highly secure system. This drastically reduces the risk of a security breach, since …

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