Simply Junior

Will you know what to do in your new home if something nasty happens with any of the water-related fixtures in the residence? The truth of the matter is that in this life toilets overflow, dishwasher hoses crack, water pipes eventually leak and sometimes even burst wide open. These unfortunate incidents can bring major inconvenience to your life and costly ruin to your property. Own a home long enough you are likely to experience a significant water-related event within the next few years if you haven’t already, so it is better to be prepared so that precious time is not wasted that might drive up the costs of repairs. If you get to know your plumbing well and treat it like a friend, you might even be able to decrease the chance of an unexpected water disaster, perhaps saving yourself thousands of dollars while improving the value of your investment!

Prior to purchase:

Either you or a professional plumber you trust should inspect the quality of all plumbing within the property and demand that any portion which is not in great condition be replaced in order to protect your investment. If you suspect that any section of plumbing (large or small) is in decline, insist on a remedy or a price adjustment to compensate for your intention to take care of the matter yourself. Consider making friends and maintaining a good relationship with a plumber you can trust who will have your best interests in mind and perhaps offer you advice to save you money or help you avoid unnecessary costs in the future. Of course, it wouldn’t hurt you to attend some workshops or classes on Do-It-Yourself Plumbing Repair. Find out the age and make certain of the condition of any septic system, including information about the company that installed it. You should investigate the life expectancy of the system and be prepared to haggle over the issue if you feel you and your wallet are at risk. Know the location of every water shut-off valve in the home. When you do your first walk-through prior to purchase, you should inspect each water fixture and look for a convenient shut-off. If you find a sink or tub or any other fixture that runs water yet does not have a nearby way to shut that water off in an emergency, you should plan to have such installed, or even make the practical installation of such a requirement of purchase. Obtain detailed design and construction schematics of the home, especially any information available on any home improvements that have been completed which affected or changed the original plumbing layout.After purchase:

Assemble and keep accessible an “Water Emergency” kit that will allow you to quickly deal with the most common types of incidents such as an overflowing sink or tub (due to clogged drain) or a leaking pipe. You want to be able to stop the flow of water, conveniently clean up (and disinfect) any mess, and prevent further problems until the problem can be resolved. Perform a monthly check on interior and exterior areas of your home where plumbing runs, including all visible connections as well as surface and floor areas near where pipes run behind sheetrock and other wall material. If you see any sign of moisture, address the cause or have someone experienced take care of it. Finally, if you have not done so for quite a while, you should review and update your homeowner’s insurance to feel confident that the details have not changed in your coverage. You must never be fooled into believing that your insurance company is always completely transparent when they make adjustments to the rules. You do not want to be one of those unfortunate souls who find out that the rules have changed when you weren’t looking. Thousands and thousands are the people who have had to go to court to fight tooth and nail with companies claiming “We’re Like A Good Neighbor” and “You’re In Good Hands” when their plumbing had issues related to a natural weather event. Insurance companies do not look kindly on having to pay up and do everything they can to avoid relinquishing the vast profits you provide them. The best insurance is attention to detail! Take the right steps in the name of water safety – both while looking for a home and after you’ve purchased one – and you can greatly decrease your risk for catastrophic water damage. When it comes to protecting your home and your wallet or purse against the risks of plumbing-related incidents, remember that diligence saves dollars.

Due to high cost of life, startups have become quite difficult to venture into. In fact most people especially minimal-income earners have failed to go into business due to high cost of starting up a business. But one needs only to think big and start small so as to achieve these entrepreneurship goals. Small business ideas to make money are the benchmark to successful business ventures. In fact most successful businesses were started from scratch.

The concepts of starting up businesses or investing wisely are based on how well one wants to succeed and which path does one want to follow to achieve success through entrepreneurship. These business ideas form the platform for achieving this distinct objective in business. These Small business ideas to make money could be anything from:

Investing in the bourse, forex trading, buying and selling cars, insurance and gardening provide the best incentives for investing wisely.

Most of these ideas and money making schemes have their distinct modalities of achieving them. These ideas can also be;

Online business schemes like affiliate marketing, online service provision, photography to blogging and even selling goods and services online.

Thousands of smart investors nowadays are selling services online. This was initially a small business idea to make money but has gradually has transformed into a successful business. You can sell cars online. People are now buying vehicles online, all you need is to have legitimate contacts with car dealers and their banks and you are off the ground. You will find yourself making a lot of revenue from such practices. Most of these ideas often transform from a few dollars investment to a multimillion investment enterprise.

Where are you in the game?

The other day someone told me that life is just a virtual reality game. He was a real estate agent and had fallen on tough times, but was determined not to give up. He had a good philosophy about the cycles and trends in the real estate market, he’d been through it before, this time he said he learned his lesson, although had participated in the speculation himself.

He was leveraged to-the-hilt, at the top and dumped many properties and still is juggling things trying to save his hard fought (small) real estate empire. I say small, as compared to let’s say a Donald Trump level leveraged real estate mogul. But, in the eyes of the average American, he is no small can of beans. We talked about the Game and I explained that I think that there are:

Those who play the game, Those who watch the game in the stadium and feel part of it, Those who watch from afar on their TV couched, Those who control the game, Those who referee the game, Those who Speculate and Bet on the game, Those who fund the game and stadium, Those who cheer the game, Those who give water to the game players, Those who manicure the fields for the big game, Those who Coach the Players of the game, Those who set the Stage at half-time, Those who inspect the Stadium, Those who keep peace with the fans of the game, Those who get paid to comment on the game, Those who have played the game

And then there are “Those” who have played, watched, cheered, funded, created and controlled the game, who now just laugh at all this sound and fury. That is my perception of it all, and we had a laugh for moment. Life is funny that way, sometimes you can’t readily see it, until you step back or fly over the game in the big Good Year Blimp. So, I hope that 2008 will be your Big Good Year too!

A good small business loan rate is found in the many options available for entrepreneurs. Should a business be minority or women owned then that improves the options available. Commercial lending rates vary but typically not by much when compared to home or private lending. Because commercial loans are reviewed heavily before approval and secured very well, the rates stay close to the prime lending rate.

The Small Business Administration has a number of loan products available to assist small business. Starting with the SBA Microloan which are loans given through SBA intermediaries with lending amounts under $35,000. The small business loan rate is around 8% and is tied to the Treasury lending rate plus 7.5% or 8.5% (depending if the loan is above or under $10,000). The SBA’s primary lending instrument is a loan guarantee product called the SBA 7(a) loan with a maximum guaranteed amount of $1.5 million. Lending is done through an approved bank, the SBA guarantees the loan and the rate is tied to the prime lending rate. 7 (a) loans over $50,000 have a rate maximum of prime plus 2.75% (2.25% if the term is under seven years).

There are community development organizations that lend to small businesses. They exist to create and grow small businesses as small business brings revenue to a community and creates jobs. Their credit standards are not as rigid as formal banking institutions and they are very open to women and minority owned businesses. Typically their small business loan rate is around 4.25%-8.75% interest. Their maximum lending amounts are relatively low being around $50,000-$100,000, but they will have lending arrangements with banks to help with larger loans. These community organizations are distributed throughout the US and serve both urban and rural areas.

Examples of community organization low interest rates include Accion in Albuquerque, New Mexico. Accion offers rates of 2% to 7% depending on risk and has a maximum loan of $150,000. In Tulsa, Oklahoma the Tulsa Economic Development Corporation (TEDC) utilizes SBA products and likes to tout the SBA 504 where they can offer a fixed 4.7% for a ten-year term. The SBA 504 is used for mortgage financing for acquisition and/or renovation of capital assets (land, building, equipment) and it has loan maximum of $4 million. In Harrisburg, Pennsylvania the Harrisburg Regional Chamber has the Capital Region Economic Development Corporation (CREDC). The CREDC has a small business loan below market rate at 4.25% and a maximum amount of $200,000.

These are just a few quick examples of community organizations throughout the country lending to small businesses. As seen sometimes they can beat conventional commercial lending and even the SBA small business loan rate.

Tax Problem Solver – Why You Need Professional Help

Tax problems come in different forms; IRS tax problems, State tax problems, and Sales tax problems. Tax authorities are constantly increasing their tax enforcement efforts through tax collection and tax audit.

When taxpayers receive the dreaded tax notice that their tax return or their business is going to be audited and examined, the first thing they should do is seek professional tax advice. Same thing when taxpayers receive collection letters threatening levying and garnishing their wages or paychecks, or the tax levy letter for their bank account, taxpayers should seek professional tax advice to resolve their tax problems.

The most common options to resolve your tax problems are:

* Full Payment: paying the amount on the tax notice and avoiding the confrontation with the taxing authority. Most of the time, this option is not the best option for the taxpayer to resolve their tax problem, as often the tax bill is inaccurate.

* Pay The Correct Tax Only: paying the actual amount of taxes if you can afford it is usually a good solution to your tax problem. This will entail working with the taxing authority to abate the penalty assessed. The success of penalty abatement is based on reasonable cause and not willful neglect.

* Installment Agreement: paying the tax amount through an installment agreement is a common way to resolve your tax problem. You should seek professional tax advice, as the taxing authority will usually request a large monthly payment, while professional tax representatives will work on attaining an installment agreement that is reasonable and you can live with without causing a financial and economic hardship on you and your family.

* Offer In Compromise: an offer in compromise, OIC, will usually be accepted by the taxing authority to resolve your tax problem if the amount offered to settle your tax problem is equal or exceed the taxpayer’s Reasonable Collection Potential, RCP. The IRS, or the State, or the Sales Tax Agency determines RCP by using the financial analysis tools like the 433-A for individuals and 433-B for business entities.

No matter which option is correct to resolve your tax problems, usually there are more than one viable option, it is essential that the taxpayer comply with the tax law going forward. That is, all tax returns are filed timely; all estimated income taxes and payroll deposits must be paid timely.

An experienced tax professional who specializes in tax representation would be the best person to have in your corner when the IRS, the State, or the Sales Tax Agency contacts you.

The most surprising fact of all after plumbing the depths of what to do when the IRS contacts you regarding a tax problem is how shallow the well really is. With the lull in activity on the IRS tax audit and collection front, there are relatively few pronounced tax-experts. The $345 billion dollar tax gap remains fascinating to the US Congress and the IRS. It is a high profile item!

The IRS released tax records on their most famous tax problem cases that imprisoned Al Capone, they inadvertently nabbed the Governor of New York allegedly spending tens of thousands of dollars for what they least expected. From Will Smith, to Wesley Snipes to Nicolas Cage IRS audits and collection are on the rise, and is expected to continue for many years to come!

So, do you have a tax problem yourself? Do yourself a favor and take action to resolve your tax problems.