Why you need to find a good accountant

Through life, there will be some professional relationships that really matter. Your doctor, lawyer, personal banker etc. .. One of the most important relationships you'll need is one with an accountant. You may think that an accountant is beneficial during tax season, when really it can be relied upon for much more ... You can activate your accountant for advice on financial and investment planning. And if you really have a problem on your income? The best person to fix your problem is an accountant. Accountants are skilled in CRA policy and procedure, which may be able to find ways that you or the CRA has made a mistake on your tax return or expense you don't understand who could have supported. If you have a problem of income tax, because they have not filed any income for several years? An accountant is still the best choice. If you are experiencing difficulties finding an accountant specializing in solving tax problems where the taxpayer is inconsistent. Mark Feldstein and Associates is a chartered accountant firm in Toronto and is a perfect example of an accounting firm that argues for taxpayers who have tax problems. Your relationship with your accountant should be long term, then here are some things to think about when looking for a good accountant: 1. search and ask that they use your friends and family. Nothing is better than a recommendation from a trusted friend who used the accountant. 2. you get what you pay for! If you go to a Chartered accounting firm, can charge a higher rate than an H & R Block but remember CA is experienced, work quickly. 3. The accountant to see if anyone has posted negative feedback about Google's online accountant. Many people think "I want to pay the minimum amount of tax" or "I want the biggest" refund at tax time and race to find the most aggressive accountant. Aggressive accountants are those who land in big trouble. The best type of accountant is the person who are complete, practical and honest and has a low to moderate appetite for risk. Not someone who will cut corners to increase your bottom line and potentially get checked. A former employer once said: "If you are always honest, you don't have to have a good memory" and it couldn't be more true when it comes to your taxes and finances.

PPI mis-selling compensation

Payment protection insurance, otherwise known as mercilessly PPI was sold alongside various loans and mortgages for over fifteen years. In many cases, lenders and made sales nearly always more from the sale of payment protection insurance compared by real loan. To show the length of PPI mis-selling is to note that in 2002 Barclays bank sold about 360 million consumers PPI alongside loans. It was believed that their profit was incredibly over 280 million! But not just to be the culprit. All the major (and minor) lenders have mis-sold PPI customers to produce huge profits. Therefore, an increasing number of complaints, the Government has acted, and in May 2009 these policies were banned. Massive and constant pressure from consumer groups, TV and Internet campaigns then forced the FSA is the Government to ban this mis-selling practice to those who did not want nor need such policies. Fortunately this now means that anyone with a PPI policy is now entitled to recover their money in full with interest (at 8% per annum) and added compensation. Following the legal process against PPI more lawyers can recover the full cost of PPI were mis-sold more interest and Commission expenses against the creditor. Currently it is estimated that approximately 20 million PPI policies are in existence, but given the fact that prizes can be claimed over 6 years, this means potentially around another 80 million policies are affected. Average compensation of mis-sold PPI is about 2,500 so if over the past five years has had one or more PPI policy then clearly is well worth it in claiming compensation for the PPI. Some people have even argued over 25,000!

What every Business owner should startups know Factoring

If you have a new business or thinking about starting your own business, an important resource that business should know every company start-ups is factoring. Learn how small business factoring can offer immediate cash you need to grow your business. Limited resources and cash flow problems may impede growth and many times these two obstacles are causing many small businesses to fail. Small business factoring offers a great alternative to traditional bank loans because there is no set of terms, not required monthly payments and high interest rates. How does it work? If your company sells products or services to customers and offers 30-day terms, 60 or 90 days, you may qualify for small business factoring. Also known as accounts receivable factoring and accounts receivable financing, does selling your invoices and accounts receivables to a factoring company. Depending on the company that you work with, you could receive up to 96% of the invoice amount is in cash, and then the company is responsible to collect the invoice and assumes 100% of the credit risk. According to the financing company that uses your business, might be approved in less than 24 hours and receive your money in a few days or a week. Overall, it's a very simple process that moves a lot faster than any bank or other traditional lender. The application process is usually very simple, and in many situations there is little to no red tape to deal with. What can you do with factoring? The possibilities are endless with this type of financing. Unlike A traditional bank loan where you have to put the money toward a specific use, the money you receive is completely yours to do with as you please. With the freed up cash flow from financing receivables accounts, you can: -Maintain payroll -Purchase of new equipment for your business -Purchase of new and improved inventory or seasonal merchandise -Pay off existing debt or taxes -Expand or remodel your store or Office -Put more money into marketing efforts and advertising -Just keep the money in an emergency fund in case of unexpected expenses arise What kind of society can use factoring? As mentioned before, any company that sells products or services to customers and provides conditions for 30 days, or 90 days 60 is permissible. Some factoring companies specialize in providing funds to specific types of firms, and other companies provide all types of factoring companies. Some of the many industries that use the credits for financing services regularly include freight companies, construction, medical, dental and other medical offices, clothing, agriculture and products, security guard agencies staff, housekeeping, cable installers and maintenance companies and more. Every company or companies (regardless if they are a small business or a large company) has encountered difficulty in cash flow at one point or another. If you need money fast for small businesses, factoring may be the best solution for your growing business needs. With this easy and flexible method of financing today, take the small business or company to the next level.