Accounting and Tax Guide Accounting and Tax Guide Copyright by en Mon, 19 Feb 2018 22:44:29 -0500 What to Expect from a Professional Land Surveyor

If you want to know the actual size of your land, you can hire a professional land surveyor. The surveyor has the experience, knowledge and the tools that are required to take accurate land survey measurements. A land surveyor is needed to help determine the size of your property, help when you are building on your property and when you want to sell your property.

Skills and credentials of a professional surveyor

Not all land surveyors are the same. They should display professionalism, responsiveness, experience and quality of service. When hiring one, ensure that he or she has or does the following:

  • Professional liability insurance for errors and omissions
  • Provides personal supervision when the land is surveyed from the beginning until its completion
  • Places very visible property corner markers when you walk through your property
  • Provides you with a signed and sealed copy of the land survey
  • Answers your questions regarding the survey immediately

Reasons why you need to know a surveyor's credentials

Professional liability insurance is necessary to protect the client and the surveyor. The insurance is to be used to pay if there are losses that arise from negligent errors or omissions on the part of the professional surveyor. This is important to know because if the land surveyor does not have error or omission liability insurance, you would have to go through litigation to pursue a claim, which could be expensive. It could also take time before the case is settled. See to it that the professional surveyor you hire presents you with proof of coverage.

Ensure that the surveyor provides personal supervision from a licensed professional. It is important that he or she is present and supervising the land surveyor until the process is finished. You should know that there are some surveying companies where the licensed surveyor only rubber stamps the survey results, which could be erroneous.

It is also important to have the land surveying company mark the corners of your property. These markers should be visible. They indicate the actual perimeter of the land that actually belongs to you.

After the survey, the surveying company should give you a signed copy of the plot or survey drawing. The plot must indicate the actual measurements of your land and which property corners were set and those that were found.

You should expect the land survey company you hire to answer whatever questions you have immediately.

Land surveys are needed to collect information for sale agreements or for deeds. A land survey can be used for a lifetime and you may only need the service once. If you are interested in buying property in Essex, hiring a building surveyor in Essex is one of the priority services to consider. Find reputable chartered surveyors in Essex so you can have a definite idea of the actual size of the land you are purchasing.


Financial Guide Editor Mon, 08 Jan 2018 04:18:11 -0500
Pros and Cons of Hiring a Broker When You Shop for a Mortgage  

You have been dreaming of owning a house for years. Finally, you come across this wonderful house located in a quiet and child-friendly neighbourhood. The only thing you need to do is to secure the approval of a home loan company. Do you apply for a mortgage on your own or hire a broker to help you? We have examined the pros and cons of working with a home loan broker, so you can decide better.

Say Goodbye to Legwork

It pays to work with a mortgage broker because you can save yourself from doing legwork. They will file the application form, together with P60s, utility bills, payment slips, and other documents required for the loan approval. Brokers are well-connected. Hence, you can get exclusive access to a lot of lenders. Some lenders rely on brokers to screen their clients. In addition, other loan providers do not freely give out their contact details if you do not go through their trusted brokers.

Enjoy Discounts

There are fees involved in getting a mortgage. If you want to save money, then you should consider hiring a broker. Your broker can ask the lender to provide discounts for the arrangement, valuation and booking, fees. Valuation fees usually range from £150 to £1,500, while the booking and arrangement fees can range from £99 to £250 and £0 to £2,000, respectively.

Get Extra Services

If you have a bad credit history, a broker can provide a credit repair service. Some brokers charge a one-time processing fee plus monthly fees. Credit repair is done to help you get approval from lenders. It involves disputing errors found on a credit report. While it is possible to fix your own credit score, you will definitely need to invest a lot of time and effort. You should also understand how the process works. Thankfully, with a broker, you can just sit tight and wait for the result.

Disadvantages of Hiring a Broker

Be careful if hiring a broker. Some brokers only pay attention to the commission they will get after the loan gets approved. Others also charge excessive service fees. Before you use the services of a particular broker, you should ask for a detailed breakdown of their fees. Try to compare their rates to other brokers so that you can get the best deal.

Also, try to check the track record of the broker. How many customers have they helped? How many loan applications got approved with their help? By working with a seasoned broker, you can make sure that you can finally move in to your dream house as quickly as possible.

Be a wise customer. Compare all the available brokers in your area and check the price of their services, background, experience and even customer feedback. If you want to get the best deal, you must do detailed research on each service provider.


Financial Guide Editor Thu, 07 Dec 2017 09:12:11 -0500
Finding the Ideal Flat to Rent: A Step-by-Step Guide

When it comes to finding the perfect flat to rent, there is plenty of advice available. But finding the right flat can also be a time-consuming and daunting endeavour if you go about it in a haphazard way. You need to be organised when making your choice, especially if you want to be sure that the flat fits all the criteria you have. Here is a step-by-step guide to finding the ideal flat to rent.

  1. Set your budget

The first step is to set your budget. Determine what you can afford. Most experts agree that monthly flat rental should not be more than 20% of your income per month. Take the time to list down all your monthly expenditures, from food to utilities to entertainment, so you can see how much you can afford to pay. This will also help you identify the expenses you can cut back on if you want a more comfortable flat.

  1. Start hunting for a flat early on

Even if you are not planning to move out of your current residence for at least six months, it pays to start hunting for the perfect flat early on. The ideal time frame is about 3 months before you plan to move. This gives you time to search for the right flat, and you won’t have to settle for a less-than-ideal flat at the last minute. There are some factors which can affect your search as well, and this includes the flat’s price, location, public transportation accessibility, or parking, and the safety of the neighbourhood. Areas such as Colchester are popular with many renters, so if you decide to look for a flat in this area, simply do a search for ‘flats to rent in Colchester’ and you’ll be certain to find a few which suit your needs.

  1. Start saving for your down payment

Landlords will typically require you to put down a certain amount as a down payment. In most cases, this will be the first month’s rent, last month’s rent, and a security deposit which is equivalent to one month’s rent. If you don’t already have sufficient savings to cover this, begin saving as soon as possible.

  1. Prepare your paperwork

Landlords will make it a point to check your background, so it’s also a good idea to prepare the necessary paperwork as soon as possible. Documentation which may be necessary includes a letter or certificate of employment, pay slips for the last three months, tax returns, and letters of reference (particularly from previous landlords or employers).

Follow the aforementioned steps, and it should be easier to find the ideal flat. Happy flat hunting!

Image courtesy of

Financial Guide Editor Thu, 19 Oct 2017 12:06:28 -0400
Top Tips and Ways to Sell Your Home Quickly

Years ago, selling a home was a quite difficult, limited, and often time-consuming process, mainly based on putting a For Sale sign outside your property with the contact number, or hiring an expensive estate agent to help sell your home. However, times have changed, and the Internet is now the best tool for marketing property. If you’re wondering “How can I sell my home quickly?” here are some of the best ways to sell your home, and how to do it quickly.

Private sale

Some people prefer selling their homes themselves, without an estate agent or others involved in the process. Basically, it’s similar in terms of the marketing. Both ways include a marketing strategy, negotiations, sale agreements, etc., but with a private sale the management of the process is exclusively down to the homeowner. This has advantages and disadvantages. But the principal advantage of this option is that you can avoid the cost involved in hiring an estate agent. However, you need to be prepared for the potential headaches of managing the whole sale process yourself.

Traditional estate agents

This is still the most common way to sell your home; hiring an expert [an estate agent] who will help you in every step of the sale process. They do the marketing, recommended any modifications or repairs your home might require, and find the ideal buyer. They stage and show your home, negotiate the best deal possible, organise the contracts, and take care of every detail, in order to sell your home quickly.

Online estate agents

The rising star of real estate! Online estate agency is an excellent alternative to traditional estate agents. Its big benefit is, it’s less expensive but offers many of the same benefits as traditional estate agents. They visit your home, take photographs, give recommendations that can help with a quick sale, and will be in constant contact via email or phone. You will always have a source to deal with any doubts, 24 hours a day. It’s a less expensive service than traditional agents, but still extremely effective. Online estate agents are experts in getting exposure for your home in hundreds of property listings and websites without any extra cost, increasing the possibility of more people, and the ideal buyer, seeing your property and buying it.

One last recommendation

High-quality photographs are really important when it comes to selling your home. Take professional photos that make your home look super attractive, capturing its best angles, with good lighting and high-quality resolution. Make sure each photograph looks stunning, clean and eye-catching to buyers.

Finally, it’s important you choose the option that best fits your needs and with which you feel most comfortable. Keep in mind that the Internet offers many economic and effective options that can help sell your home quickly. More and more people are looking for property online nowadays. So, maybe it should be your first choice.

Financial Guide Editor Thu, 19 Oct 2017 11:43:08 -0400
5 Key Differences Between ERP Systems and Accounting Software If you're mulling over whether to buy accounting software or an Enterprise Resource Planning (ERP) system, it would be wise to consider their differences. Some small companies may opt for accounting software for fear that a more integrative platform like an ERP could require a needlessly lengthy deployment with little ROI. Yet, such doubts can easily be dispelled since businesses are realizing that with increasing competitiveness a company can't afford to be without the best software solution to streamline its operations and boost efficiency.  

What's more, though ERP was once used mainly by larger organizations, it is becoming increasingly popular among small businesses. Lightweight and customizable, small business ERP can typically be found as a Software as a Storage (SaaS) model, which means it can be operated remotely. Below are some major differences between accounting software and ERP.


The most obvious difference is that ERP software integrates virtually all of a company's departmental functions in a single software application. When a salesperson enters a new payment, or the purchasing manager buys new materials for the production lines, those items are seamlessly created and transferred to the accounting section of the software. The accounting department can then easily review and process every transaction.

An accounting software, on the other hand, is very limited, and has customarily been used only in a company's accounting department. Frequently, the accountant will have to download dozens of spreadsheets to later integrate them within the ERP software. The lack of integration makes the job sometime tedious and painful. It also keeps the accountant away from the added-value of their profession: the analysis. An ERP software is not restrictive, as it merges all relevant data, including all back office functions, and gives accountants time to focus on analysis financial information and costing structures .

Accounting Is Only One Feature of ERP

A chief hallmark of any ERP system is a central database where all information has been consolidated. It contains all types of modules, including Finance and Accounting. While many vendors tend to group accounting and other financial software together, an ERP system is all-inclusive, performing seamlessly for all the departments. It also encourages collaboration between them. 

Read more: Accounting capabilities within an ERP Software: ABIS, Inc.

Ability to Analyze Trends

Though accounting software is useful in trend and data analysis, it provides a sliver of information compared to what you would get with a larger, more integrative platform. ERP software has been designed to give the user a panoramic view of the company, based partly on financial and accounting information.

Accounting Functionality Range is Smaller

Historically, ERP and accounting systems have been viewed, especially by small companies, as operationally similar. Yet one difference lies in their functionalities, such as size, output, range and design. Accounting software is more limited, while an ERP system covers assorted areas, including accounting. 

ERP is More Scalable

The level of scalability is an important factor when deciding on accounting software vs. ERP. A company that expects to grow, large or small, needs a system that will grow with it, and this is where ERP comes in. Compared with accounting software, ERP is very scalable.

ABIS is a Consulting company with a powerful ERP Software that helps companies create growth and streamline their processes throughout their organization. To learn more about the cost advantages of ERP over accounting software solutions, visit

Accounting Software and Tools Editor Wed, 23 Aug 2017 22:46:16 -0400
5+ Advantages of Forward Contracts in Foreign Exchange Forward contracts are the customized contracts with two participating parties - individual and an institution either a bank or foreign exchange firm. The contract involves the selling or purchasing of an asset like any other contract. However, what differentiates it from future contracts is that the asset can be purchased or sold at a specific date, sometime in the future. The individual selling that asset has the leverage to decide whether he/she will be selling it today or sometime in the future and at what price.

This type of contract is most apt for hedging due to its non-standardized nature. Such a contract can be customized for any commodity. Forward contracts are also regarded as an over-the-counter instrument as they don’t trade on centralized exchange.

Now that we have a basic understanding of what forward contracts are and how they operate. It is time we come to the gist of the document i.e. the benefits it has to offer and why should they be considered beneficial when it comes to foreign exchange.

Advantage of Forward Exchange Contracts

  • The first and foremost benefit is that you will end up saving more. When you sign up for a forward contract, you won’t t have to pay extra even if the rates go high.
  • Second, you can pay at any day later in the future while still enjoying the commodity in the present.
  • Thirdly, there are fewer risks of default which means that you won’t lose your due on foreign exchange.
  • Next, you can make the most of the current exchange rate (the lower the better) and lock it for a future receipt or purchase.
  • You can easily hedge your exposure while reducing your risk
  • You can even draw down to avail currency early on
  • A forward contract is very easy to set up and operate
  • It is even reasonably priced which means it will be easier to maintain.

Now, if you were looking for all of these benefits under one shade, FrontierPay, a currency exchange firm with well-reputed reviews seems like your best bet. Undoubtedly, it is one of the most predominant online funds transfer firms in the UK and Australia. No transfer fee is charged and the company is known to allow customers to make the most of the currency exchange rate fluctuations with forward contracts.

This FrontierPay review is based solely on the fact that it has proven itself as one of the most efficient firms for online money transfers with strengths in forward contract trading.

Forward contracts may seem an easy way to transfer money but there are a few cons to consider too. This article won’t be complete without a mention of them. One of the biggest disadvantages is the currency moving in your favour but you won’t be able to reap the benefits as the price has already been set at the time of the contract. Therefore, if you are worried more about the gains than the loss, forward contracts might not be your thing.

Financial Guide Editor Tue, 01 Aug 2017 11:50:22 -0400
All you need to Know about Tax when Selling your House

Every home owner need to take the issue of taxes into account when selling property. While home buyers will have to worry about stamp duty land tax, home owners are required to pay capital gains tax.

Even then, you do not have to pay the Capital Gains Tax when selling your home if

  • You lived in the house as your main home for the entire period you owned it.
  • You have let a section of it or are using part of it for business.
  • Your home sits on a ground that is smaller than 5,000 square metres.

The logic behind this is simple. You are automatically entitled to a tax relieve that is called Private Residence Relief thus you do not have to do anything. Even then, if you do not meet all the criteria above then you may be required to pay some Capital Gains Tax.

Here are some of the important tax obligations that you must be aware of when selling your home:

Private residence relief – Here, you are not required to pay Capital Gains Tax when selling your home when the following applies;

  • You only have a single home that you have lived in as a main home for the entire period of ownership.
  • You have not let part of the home.
  • You have not used a section of the home for business.
  • The total area of the property where the house is located is less than 5,000 square metres.
  • You did not purchase with the intention of making profit.

If you meet all the criteria listed above then you are guaranteed of a tax relieve known as the Private Residence Relief. Civil partners and married couples are allowed to count one property as the main home.

Working out your gain

Generally, you are required to pay taxes when selling property but you do not qualify for the full Private Residence relief. Consequently, it is only right that you work out the gain you will obtain from the sale.

This is usually the difference between the amount you paid for the home and the amount you sold for. You can deduct the cost of selling, buying and improving the home from your gain.

These will usually include solicitor’s and estate agents’ fees and the cost of any improvement works such as an extension. However, interest on a loan you used to purchase the property or normal maintenance costs do not apply.

If you owned the own the home before April 1982 or it was given to you as a gift or you inherited it or you sold it for less than its actual worth then you can use the market value. You will do well to stick by the preset rules when calculating your gain.

Once you are aware of your gain as well as the tax relief you are entitle to, then you can work out and pay the Capital Gains Tax.

What if you do not live in the home?

Well, this does not mean that you will not entirely get a relief rather, your Private Residence Relief will be less. Even then, the rules are different if you are not a UK resident.

Overall, the question of paying taxes is a major consideration when you are selling your home. Thus, you will do well to ensure that you equip yourself with adequate knowledge so that you are well aware of your tax obligations. This is also good for a smooth transaction.

Tax Guide Editor Wed, 08 Feb 2017 12:13:49 -0500
5 Tax Season Tips For Nonprofit Organizations For majority of people, there is usually a better way to do taxes to make it more efficient and maximize benefits. If you are a nonprofit organization, there are several tricks you can use to your advantage. Here are 5 tips you can use for tax season.

5. Inform your volunteers about what they can deduct

Volunteering is a great way to give back. But it can cost volunteers more than their time. Here are what volunteers can list down as tax deductible:

  • Transportation expenses are deductible. These include gas used, oil changes, and even mileage at a rate of 14 cents for each mile traveled while doing charity work. If you can calculate the wear and tear your car goes through while you are volunteering, then this can also be included as deductible.

  • Travel expenses are also deductible. If your volunteers need to fly or buy food while doing their volunteer work, these can be deducted from taxes. Accommodations will also be covered and can be deducted from taxes.

  • All office supplies used while volunteering will also be considered tax deductible. This can include phone usage and also uniforms.

Speak to your licensed EA or CPA tax preparation firm about all your expenses to see if they can be deducted.

4. Acknowledge donations

While small donations do not need to be acknowledged in writing, bigger donations usually  need a written acknowledgment for tax purposes. Amounts up to $250 will require some form of receipt and/or a thank you note.

The note or receipt has to include certain details such as the amount donated, the date the donation was made, details to ascertain your status as a tax exempt organization, and statements to clarify if a gift was given in return for the donation. For more information, see your state’s laws and regulations relating to quid pro quo.

3. Keep a record of all expenses and donations

This is for your own protection in case you are ever audited. You are in big trouble if you are audited and are not able to account for all your expenses. Make sure everything is recorded and have backups of your records. Your records need to be organized and accessible or you risk losing your tax status as a nonprofit.

2. Include any money you raised through crowdfunding

Money raised through crowdfunding will likely be subject to donation tax laws. Take note of the size of the donation and if anything was given in return for that donation. It’s always better to be cautious and report everything. Especially if you are a nonprofit organization.

1. Get professionals to help

This is especially important if you are a nonprofit organization. No matter how small your nonprofit organization is, resist the urge to handle your taxes on your own. There are different rules to follow for nonprofit organizations and you need to follow all of it if you want to keep your tax exempt status. You’ll also want to maximize your tax exempt status and the best way to do that is to get local tax professionals to help you file your taxes.

Tax Guide Editor Wed, 18 Jan 2017 22:00:36 -0500
Main Advantages Of Hiring Accountants For Businesses Every single business owner will tell you that it is hard to deal with all related to the company. So many different things are necessary to make the company a true success. As time passes and you grow, there is a pretty good possibility you will need to hire an accountant to help. This is because of various advantages that are gained. In most cases this is required by law but even when it is not, you want to take this option into account. The reasons why you want to seriously consider the accountant are listed below.


This is vital for absolutely all firms out there. If bookkeeping is not properly kept it is practically impossible to know how much money will be spent by the company and how much is gained. Many business owners know this and although they could keep their own books, there is a lack of time that appears. Expert accountants will easily handle absolutely all the bookkeeping for you so you can focus on the activities that generate profits while knowing the right state of company finances.


Dealing with taxes is problematic for every single business out there. Tax season is incredibly hard for most firms, especially the small to medium sized one. It is necessary to go through a lot of information in order to see what deductions can appear and what claims are needed. In many cases we see business owners waiting until the deadline is close to start working on all these. That is a huge mistake. What you have to do is hire a tax expert. He will be able to make sure all company paperwork is properly filed and that all the possible tax deductions will appear. Such accountants will find those deductions you know nothing about. More assets are basically coming back to the firm as tax season hits.

Dealing With Payroll And Extra Services

In so many companies the business owner is the one that handles everything in regards to payroll. As companies grow this becomes really complicated as more employees are hired to offer better company services. Working on the inventory, on utility bills and the office equipment only makes everything more complicated. An experienced accountant will always be able to offer order with payroll problems and everything else related to company finances. In many cases the accountants will actually completely set up a working payroll system that would make everything run smoothly.

Dealing With Bills

Every single company needs to deal with bills and forgetting just one will lead to huge problems in the future. It is hard to deal with all the bills but the accountant is going to build a system that will make this really simple. One thing that many do not know is that it is so much easier to save money and be sure that all utilities are paid in time when working with an experienced accountant than when this professional is not present.

Accounting Basics Editor Mon, 16 Jan 2017 11:29:48 -0500
5 Benefits Of Filing Taxes Online Tax season can cause all kinds of dread in some people. But like many problems, there are multiple ways you can solve it. If you’ve never tried filing your taxes online, you should consider giving it a shot. It might be the approach that works for you. Here are 5 advantages to filing your taxes online.

5. It’s easier to keep track and organize all your records

Whenever you file online, you make a permanent online record that is easily trackable for future use. If you ever need to answer any questions on your tax return, you won’t need to dig through paperwork in filing cabinets. You can pull up information on your computer in a matter of seconds.

4. You get better returns

Although there is a fee you need to cover in order to file your taxes online, this fee could be a pittance compared to the money you save when you file electronically. When you file online, you have better chances of benefiting from tax deductions and tax credits.

There are multiple tax related programs that can help you file your return while providing information on any potential deductibles and benefits. You maximize your tax refund and are likelier to pay less money in taxes.

3. Filing online is more accurate

You need to be 100% accurate when you file your taxes. When filing online, it’s easier to be accurate. Tax programs will hold your hand through the process and do the calculations for you. Depending on the program you use, you can eliminate guesswork about what tax form to use or what the next step should be. Filing without an accountant is not advisable whether you are filing online or in-person.

There are even programs with audit protection built in. Your tax software will go over your forms and inform you of any mistakes so you can address it before sending it over to the IRS. The more accurate you are, the less likely you are of getting audited.

Please note that if you are audited, you will need to dive into your taxes from the last 7 years.

2. Filing is much faster

You won’t be spending weeks dealing with mountains of paperwork to file your taxes. Filing online speeds up the entire process saving you a lot of time and headaches. Everything will be much more accessible and easier to double check for any inconsistencies.

1. You get tax refunds faster

If the IRS owes you a tax refund, you receive much sooner if you file online than if you do it the traditional way. Some online tax programs have direct deposit options that can get you your refund within 2 weeks. Your refund will go straight in your bank and will be usable immediately.

If you’ve never done it before, filing taxes online might be the best way for you to handle tax season. It’s never going to be easy but it doesn’t have to be incredibly difficult. Filing online might be the ideal way for you to take care of your taxes and avoid any tax related penalties.

Tax Guide Editor Tue, 03 Jan 2017 05:18:29 -0500
Three Things to Do as a Release During or After an Incredibly Long Work Week Depending on who you ask, a good majority of folks today would tell you they do not love their jobs; it’s very rare and unique if someone loves what they do for work. Add on top of your current job, some extra stressful things throughout the week, and you’ve got yourself a dark situation. Don’t get too down however, There are several outlets you can use to alleviate some of the pressure and recenter your focus on finishing your current week or starting a new one come monday. Regardless, here are three things we recommend trying to help avoid a work/stress related blowup.

  1. Regular Night Out

Everyone likes a good old fashioned night out after something pressing and stressful at work. Depending on what you and your friends have going on the next day, make plans accordingly. You don’t want to make a bad situation worse by showing up to work with a killer hangover! Save anything crazy for Friday or Saturday when you can sleep off the night before without worrying about coworkers or your job.

  1. Adult Arcade

If you have never been to a place like Dave & Buster’s, all you need to know is they are amazing. It’s basically like an arcade from your childhood grew up with you and now all the games are bigger and better. This is something you can do during the week. Grab a couple good friends, some money, and go win yourself a giant teddy bear playing skee ball all night. Basically, let the inner child out!

  1. Throw a House Party

This is one for those weeks when you finish, put your fingers in your hair, grab tight, and let out an actual scream. Nothing cures that like a good old fashioned, red cup house party. If you had a bad week, it’s sure that at least one of your friends had a bad week as well. Together the two of you can each call some friends, ask people to bring snacks and refreshments over, and just forget about anything until the next work morning. Again, be responsible, but a nice party will always put a smile on your face. If you have time, go by Bed Bath and Beyond and pick up a new blender for mixed drinks and any other last minute party essentials you may need.

Accounting Basics Editor Mon, 29 Aug 2016 22:44:16 -0400
Importance of Reputable Stock Broker - XTrade Europe Case Online investing is not some kind of a cozy place where you can enjoy in fruits of your labor in a long run. The truth is quite different. It is more like a thrilling experience, simply because you do not know what will come next. If you think that only newbies have such problems, you are wrong. Even the most experienced XTrade Europe investors have big troubles to resolve all complications on their path. This is the reason why we need professional assistance. In other words, we need help of stock trading veterans- people that are considered as one of the best in the industry. Their assistance can mean a lot to us, simply because they have required experience, knowledge and skills.      

However, this is where real problems begin. There are a ton of stock brokers out there and it is not easy to find one that would be perfect for our investing business. They all have specific strategies and approaches, which is why you should be very careful here. Good broker such as XTrade Europe can boost your positions, but a bad one can ruin everything you have achieved so far. So, think twice before you make a final decision.

Here are three major reasons why you should have reputable and experienced stock broker besides you:

The power of good advice

Every type of knowledge has its own price, meaning that you will have to pay for it one way or another. You want to get top high education? You can, but you will have to pay for it. The same as for someone’s advice. This is especially true for the world of online investing, where even a fraction of information can cost a small fortune. This is why stock brokers are crucial. They can give you a proper advice and save you a lot of trouble. Brokers like XTrade Europe provide full support to their clients, which is something you just should not miss. Even if you know what you have to do in certain situations, you should consult experts first and see what is their opinion about it. After all, these companies are able to give in-depth analysis you can hardly get anywhere else.

Achieving business goals

Relying on your own abilities and strength is crucial in online trading business, but it is just not enough. You will need something more. The best part about hiring reputable online broker is that your business goals become their goals too as soon as you open an account. These companies will do their best to help you to get what you want. Their main purpose is to deliver you results and help you on your way. Of course, defining these goals is your part of the job.

Adjusting trading strategy

The global financial market is full of surprises. Strategies that were efficient just a couple of months before can easily become totally useless. Global market changes all the time. If you have a reputable broker like XTrade Europe besides you, he will help you to adjust your trading strategy and start earning as you did before.  

Financial Guide Editor Tue, 23 Aug 2016 10:24:40 -0400
The Many Skills of Starting and Running a Business

According to, Australia has more start-up small businesses than any developed country in the world. The Australian Government recognizes the importance of start-ups and entrepreneurs in helping to fuel investment and jobs in this country. That’s why in its 2015 Budget, the Government is encouraging start-ups and entrepreneurship by promising a package to help Australians start up small businesses and to help energize enterprise.

Under this package, start-ups will be allowed to immediately deduct any professional expenses they incurred as a result of starting a business (e.g. legal expenses for establishing a company, partnership or trust); the business registration process will be streamlined to make it easier for entrepreneurs to start a business (i.e. a single user-friendly online registration website will be available for business registration as well as company registration and it will provide clear and relevant information with integrated customer support); employees will be able to share in and benefit from the future success of the business through expanded tax concessions for employee share schemes and therefore allowing small business owners to invest more money into growing the business; obstacles to crowd sourced equity funding will be removed to encourage innovative funding sources.

As good as all the above Budget promises sound, to be able to start and run a business would require a whole lot more. It would require skills such as industry expertise, management skills, technical knowledge and finance skills. You could hire the right people with these skills and your business will be off and running. However, most small business owners have to first make enough money before they can hire enough staff with all those skills.

That doesn’t mean that you have to go it alone and work all day and night to get everything done. You could take care of your area of expertise yourself and outsource the other areas (e.g. finance skills). Not all of us are good at keeping the books, but that doesn’t mean that we have to give up the idea of owning a business. Thanks to the availability of online bookkeeping services, we can now outsource our bookkeeping tasks to the professionals in the finance field.

What do online bookkeeping services do?

Online bookkeeping services use state of the art cloud accounting software and are able to help you grow your business. Their accredited small business accountants will be able to provide you with expert advice, real time reports and accounting services to help you make better and more informed business decisions. Because everything is done online, you won’t need to spend time travelling to meet with your accountant. Instead, you would be able to easily and securely transfer documents as well as receive documents from the accountants at these online bookkeeping services. You can also store documents that you use regularly for retrieval in their cloud accounting software.

Online bookkeeping services take the headache and head scratching out of having to deal with complicated accounting software and numbers. Because cloud accounting software is online and virtual, it is very convenient, accessible and doesn’t use paper. So it is good for the environment and you won’t have to mail or cart box loads of paperwork to your accountant. Some of the professional accounting tasks online bookkeeping services do are bookkeeping, tax planning, tax returns, BAS/GST/PAYG and accounting support. With Government assistance and online bookkeeping services, now is the best time to start up a business.

Financial Guide Editor Wed, 02 Mar 2016 20:14:27 -0500
What Is Online CFD Trading? If you have any experience in trading financial instruments you may find online CFD trading very interesting and a new option to trade on financial markets. With traditional trading methods like stocks, indices, commodities, Forex and others, the hassles of owning the assets and transferring costs were significant. But in CFD trading you do not need to own any of the assets and you just make profits due to changes in the prices of the underlying instruments. Let us take an example- You trade in stocks by owning the stocks in the traditional method of stock trading. But what online CFD trading is all about is that you just buy CFDs, contracts between the buyer and the seller to exchange in the difference in the prices between the opening and closing of the contract.

What is the reason for the popularity of online CFD trading?

  • Online CFD trading today provides a number of opportunities for trade without actually owning the assets underlying. That is why this newer way of trading is more popular these days than traditional trading. Here are the multiple advantages given by the CFD trading.
  • Leverages- through Leverages you can control the trading of assets of values many times greater than the marginal deposit required. Your CFD trader allows you to trade in multiplied ratios which can as greater as 100:1. This means that if you have 100 dollar as margin, you can trade with 10000 dollars as the trade order. This means that your profit margin is multiplied by 100 times greater. Thus a very small amount of capital can control higher trading amounts.
  • Taxes and commissions- In online CFD trading, there are no stamp duties and other taxes associated with the ownership of assets since there is no ownership of assets here. Also there are lower commissions and low amount of charges taken by the CFD traders, therefore your trading costs are saved in CFD trading method.
  • Placing trades in multiple markets from a single account- The other best advantage of CFD trading is that you can chose any type of preferred market of your choice and you can trade even in multiple markets from a single account.
  • Trade anytime you want at your convenience – In online trading of CFDs you can trade anytime you want. CFDs can be traded in multiple markets and many CFD traders allow you to trade at the convenience of your timings. So you can trade even after your office hours at the convenience of your home. The online CFD trading is so convenient that you can trade in any part of the world with the same account. You can make CFD trading as your part time job and trade whenever you like with the broker of your choice.
Financial Guide Editor Fri, 19 Feb 2016 01:19:28 -0500
Filling Your Company‚Äôs Accountancy Needs Most entrepreneurs have a do-it-yourself approach in handling their business. As long as they can give adequate attention to it and they have the necessary competencies to get it done, they want to make sure that they have full control of just about every detail in their company. However, there are times when getting professional help is the best way to go. One such aspect that’s best left to the professionals is accounting. There are distinct advantages to filling your accountancy needs with a professional service provider. That said, you will want to make sure that that provider is certified, such as Atkinsons Chartered Accountants, a firm that deals with small business accountancy needs in Brighton & Hove. Atkinsons have put together this article for us in which you will learn about the different ways in which these services can help improve your business operations.

Hiring an accountant provides you with a lot of advantages. The first thing they can contribute to your company is their expertise. They are specially trained to handle the various accounting tasks. Their unique skill set will ensure that all finance-related manners are sorted the right way. Second, they can help you out immensely as your business expands. By entrusting all these tasks to an accounting professional or firm, you can focus your time and energy on matters that need your attention most. Last but not least, they can help in ensuring all accounting details are properly noted, which is a must, especially for enterprises that are still growing.

When looking for an accountant for your business, it is a must that you get a service

As a small or medium scale business owner, you might be wondering how hiring an accountant can possibly help your business. Just to give you an idea on how getting your accountancy needsfilled can specifically help you, it would be nice to show some of the specific things that an accountant can do for you.

  1. Set up in-house accounting teams - Setting up a specialized squad for handling accounting tasks can be burdensome, especially if you don’t have prior experience in handling such tasks. This is one of the ways getting professional help can be extremely helpful. They can help in organizing the roles of your team and training each individual to perform their respective roles the right way. By getting everything in sync, it can only increase the efficiency of your workplace. This is perfect, especially for business entities that are on the rise.
  1. Provide business support services - An accounting firm can provide services that will help support your business operations and make everything run smoother. For example, professional accounting services will help you with bookkeeping, an often overlooked but crucial component in the daily operations of all enterprises. Aside from keeping every transaction properly recorded, getting accounting services can also help with other matters such as registration for VAT and PAYE.
  1. Furnish marketing reports and budgets - Creating marketing reports and budgets are 2 of the trickiest things to do when handling the financial end of any business. A marketing report is basically an outline that shows the progress or status of a company’s different business practices. A budget plan is an outline on how a company’s finances would be distributed. It takes technical skill to create both of these. Given how important these are in terms of making business operations smoother, it’s a must that you leave the tasks to professionals.
  1. Get all tax matters in order - Taxation is one of the most complicated aspects of handling a business. This is something that should never be underestimated, as getting your taxes wrong can have serious financial and even legal repercussions. Taxation is one of the aspects a true accountant specializes in handling. Given that this matter should always be taken seriously, it would be in your business’s best interests if you pass the task of getting all tax matters handled by an accountant.
  1. Help in doing audits - While accounting and auditing are considered as 2 different fields, they have some striking similarities. An audit is defined as an independent appraisal of one’s finances by an independent entity. Auditing is important because it helps in maintaining transparency and to make sure that no detail is missed. It is important that an audit is done by a professional and independent accounting firm to ensure both fairness and the absence of bias.
  1. Set up cloud accounting software- Modernizing a company’s accounting system can be extremely helpful for many reasons. For one, it can make the keeping of records significantly easier. One of the ways to modernize accounting systems is with the installation of cloud accounting software. Getting the help of the right accounting firm will facilitate setting up such a system. Setting up a cloud system will help you keep all data up to date while still keeping everything secure. An accounting firm can help you choose the system that fits your particular needs best.

Given the diverse roles an accounting firm can play for your business, it is a must for you to choose the right company to work with. How can you find the best firm for your needs? You have to first look at the kind of service that they offer. A quick look at their catalogue will provide you a clear idea on what kind of services they can provide. Some may provide you with the full range of services, ranging from bookkeeping to financial advice, while others may choose to focus on specific elements of providing accounting services. You can also check out which types of services they specialize in. This way, you can get the best service to fill whatever you need.

Aside from having all the necessary documents, the firm should also employ certified public accountants. This will ensure that the company is legitimate and that their services are competent. Beyond this, you should also check how they provide services for you. They should be there when you need them. At the same time, they should communicate with you in such a way that you’ll feel comfortable doing business with them. These are just some of the ways to get the best accountancy service available.

For more information on UK accounting standards, visit

Accounting Basics Editor Tue, 12 Jan 2016 09:57:05 -0500
Accounting: Getting The Most Out Of Your Tax Return It is the end of the financial year and everybody has the the same thing on their minds-- tax time. Everyone starts preparing their emails and receipts for donations and other evidences that can help increase their chances of a higher deduction to their taxable income. Here are a few reminders that you can use in getting the most out of your tax return.
Donations are tax deductible
At this time of the year, everybody searches for their receipts and emails that prove their donations throughout the year. If it is not yet late, consider sharing even a small amount for donation to help your increase deductions of your taxable income.
A suggestion for next year: Why not consider tapping your inner philanthropist, get structured and revisit your philanthropic goals. You might want to support a cause through your business or to spend for other charitable institutions while seeking out information about the tax benefits that goes with it.
Be aware of how you can reduce your taxable income
Everybody waits for their tax refund as if it is a bonus that is due to them. They plan on spending them on travel, vacation, or other recreation. However, if you have some payables or mortgage, why not use this 'tax refund aka bonus' to pay a non-deductible debt so that you can free yourself of the mortgages in the future?
Having been aware of various ways that can reduce your taxable income, use the knowledge into practice so that by tax time, you don't have to worry much. Research on more ways you can save and increase your tax returns for the financial year or for next year.
Contribute to retirement accounts
Learn when you can make a deductible contribution that can help lower your tax bill and save money in the process.
Claim deductions for a home office
If your job requires that you do some of your work at home such as being in a formal teleworking arrangement, you can claim for a deduction of a certain amount of your running costs and equipment.
Take advantage of tax break options
Sometimes, generous tax break options for small businesses are offered by companies. Your local accounting firm will be able to advise you on this. Notable examples include being able to deduct purchases of up to $10,000 in your tax return. Don't spend on a spree but try to find means and ways that you can have your expenses deducted from your taxable income.
Keep and claim small purchases
Purchases below $300 can be deducted to taxable income if one is not self-employed. Make sure your bookkeeping is in order so you catch these purchases during tax time.
Delay income opportunities
If you have an incoming salary or revenue, delay it so that you can claim it the next financial year and that means you won't be taxed on it this year.

There are other ways of getting higher deductions on your taxable income and it is never too late to learn them and start preparing for next year's tax return. If you have any questions or issues that you get stuck on simply contact a tax accountant near you. Ask knowledgeable people, browse the internet and learn from others on how you can get the most out of your tax return.
Empire Tax Professionals, Inc. 5 Pennsylvania Plaza #2325, New York, NY 10001 (212) 300-5776 
Tax Guide Editor Thu, 29 Oct 2015 11:18:12 -0400
How to find the best money market rates If you’re the kind of investor who is looking for a more conservative, less risky investment without compromising the chance to make money, you’ll need to find the best money market rates possible. If you aren’t experienced, it can be a challenge to sift through the seemingly endless array of choices to find a money market fund that will work for you, both to keep your investment protected and to still offer a decent (if not better) return. The great news is that there are many resources out there that can make the process of finding the best money market rates much easier.

The bank

The bank is probably your best bet for a first stop. Most banks have accounts that offer good rates that require only small deposits. Be careful, though: These accounts typically have rules regarding how often you can withdraw money from them without having to pay a penalty. Always read the fine print before you sign on the dotted line, to avoid surprises later.

It’s important to note that money market accounts are not always as well touted by banks as are other types of accounts, such as standard chequing or savings accounts. You may have to specifically ask about them. And don’t simply go with the first money market account you find at the first bank. Check other banks to be sure you are getting the best rate you can.

The Internet

The Internet is the next place to look for money market accounts. Not only can you find the accounts themselves through this method, it’s also a great place to find out more information about how these markets work. Beware, however! The Internet is a treasure trove of information, some good and some suspect. Be sure your information is coming from a reliable source before you base any financial decisions on what you find. Note that some funds are insured, meaning that if the fund fails your investment would protected. Mutual funds and income funds, for example, are not typically insured, so if the fund fails your investment is in jeopardy.

Be wary of money market rates that seem too good to be true. If they seem too good to be true, they probably are. In most cases, risk is relative to reward. Always read the fund’s prospectus carefully to understand exactly how the fund makes its money and the level of risk the fund manager is taking on. In some cases, the government backs up these funds, providing a safety net for your investment, but this is not always the case. Be sure you also understand the fee and cost structure associated with the fund. It’s possible that these costs will come out of that good rate, making it less impressive than it seems at first blush.

If you are looking to find the best money market rates available, one that offers the opportunity for relatively low-risk investment with a decent return, it’s important to do your research to find the one that best suits your needs. Although it may take extra time, you’ll never regret doing the research to find the right rate.

Financial Guide Editor Mon, 31 Aug 2015 11:23:42 -0400
Four Money Mistakes Businesses Should Avoid Financial stability can be one of the most difficult aspects to owning a business, especially if the business is in the beginning stages. While many businesses have difficulty yielding a profit, a great way to start your business off on the right foot is to be financially minded from the very beginning.

Getting started properly can help you keep your business’s finances and records under control, which is a crucial aspect to business success. Thus, when starting your business, these are four money mistakes you should avoid:

In the beginnings stages of the business, many do financial accounting in their heads. Though it can seem tedious, having your business’s finances in order from the beginning will help you keep a record of incoming and outgoing expenses, which are not only important for tax purposes, as many expenses can be written off as business expenses, but also are important to your business’s overall success. Seeing the expenses written down can help you see all business transactions, giving you the financial facts.

Ignoring the books can lead to a financial crisis, as you have no record of how much your business expenditures are costing you. From even the smallest of costs, such as direct tv for your waiting room, which comes with free standard direct tv installation, to the largest of costs, such as rent, it is critical you keep a detailed record. Records allow you to compare monthly expense reports, giving you an idea of what areas are making money and what areas are spending too much.

If the company is a startup, it can be all too easy for business owners to mix the lines between business and pleasure when it comes to the business expense account. Even if you do not necessarily intend to use the business account for personal reasons, if you do and the IRS finds out, your business is liable. In order to avoid any bad press or negative ramifications, it is best to keep the lines of business and pleasure very distinct.

It can be easy to spend too much on certain areas of business that are not a necessarily a necessity. While you might have a portion of your budget allocated for miscellaneous purchases, too many miscellaneous purchases can lead to financial failure. Instead, try to save your miscellaneous fund for emergencies.

Because the business world is an extremely competitive market, many new businesses intend to set the business world on its axis by offering their goods and services for a remarkably good price. However, in some cases the prices are so low that your business is not actually turning enough profit. While your business might be swamped with customers, if the products are being undersold for their value, you could very well be putting your business into the red.

When it comes to business success, being financially minded is your business’s best bet to being a sustainable resource.

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Financial Guide Editor Thu, 23 Jul 2015 22:34:58 -0400
Benefits Of Hiring An Accountant For Your Business Many businesses make the mistake of not hiring an accountant to deal with their finances and accounting needs. This tends to be because having an accountant is seen as being a luxury, something that only larger businesses should have.

However, that isn’t the case. Accountants can be beneficial for businesses of all sizes. From giant corporations to one man business startups, accountants are incredibly useful. There are so many benefits of hiring an accountant, that every business - big or small, should have one.

Still not convinced that your company needs to hire an accountant, then have a read of this.


Picture from Flickr

Time saving

Enlisting the help of an accountant will save you lots of time, allowing you to spend more time dealing with the things that matter. Time spent handling your company’s accounts is time taken away from being able to run your business.

But by hiring an accountant or outsourcing your accounting needs, you will have more time to focus on your business. Expanding your business takes a lot of hard work and time, and so the more time you have to focus on it, the better.

Staying within the law

As a business owner, you most probably have a lot on your mind. With so much on your mind, it’s far too easy to miss tax deadlines. By hiring an accountant, you will have the peace of mind of knowing that no matter what, your tax will always be paid on time.

If you fail to pay your tax on time or make the mistake of breaking the law with your accounts, you can end up in a lot of trouble. You could be stuck with a fine, or worse, jail time.

If the idea of hiring an account to work in-house isn’t right for you, then why not outsource your accounting needs instead? Peninsula have a great partnership with a specialist accounting company, so make sure to have a look at their website.

Your costs will be kept in check

It’s far too easy to spend more than you are making, especially when you are trying to get your business off the ground. But with an accountant on hand to help, you will be made aware if you are overspending so that you can reduce it.

When you first start trading, money is tight, and it can be easy to go over budget. But with an accountant there to help you, you will find it much easier to manage your money.

Help your business to grow

By taking care of your accounts for you and advising you about your spending, hiring an accountant can help your business to grow. Instead of getting yourself into debt, having an accountant on hand to help will ensure that you are wise with how you spend your money.

Not only can an accountant deal with your finances and taxes, but they can also offer you financial advice. By understanding how much money you should spend, you can build a business with strong financial foundations.

Accounting Basics Editor Fri, 12 Jun 2015 09:03:11 -0400
Maximise Your Profit Margin Today! Owning a business is all about taking risks. But you need to make sure you are making the right decisions. Taking the right gambles. How do you do this? You may need some expertise. Are you looking to increase your profits so you can expand your business? Then there are some steps you can take. They can be separated into two categories: cutting costs and maximising profit. As any good businessman knows reducing your spending is the easy way to increase your income.

How To Cut Costs

If your business is just getting started you can consider several options. Rather than buy new tech purchase it in bulk, secondhand, online. You will save a fortune and as long as it works efficiently you will not be able to tell the difference.

Consider operating your business from home. If you are running an online business there is no need for offices and paying the rent. You can network with all your employees and clients without ever having to meet face to face. This is an option many new businesses are taking.

Invest in cheap advertising. Rather than spend a fortune on television and radio ads, do all your advertising online. It will not cost a thing if you know how to use social networking, blogs and YouTube. You can even pay for extra advertising from companies at a fraction of a cost.  

Rather than hire a big workforce think about hiring a skilled smaller collection of employees. More skilled employees will be able to do just as much work more efficiently than a bigger team. This is particularly recommended if you are working from home. You will have less people to keep track of.

How To Maximise Profits

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It may be that your company or business is not generating enough interest. You need to increase your online marketing. To do this, you can look into hiring an online digital marketing company. A business like this specialises in improving your company website. It uses techniques like SEO and site analysis. They will work out a fair deal on how to get the most out of your online profile. This will increase your number of customers in a matter of months. You will be amazed how much new interest your company has.

You should also be speaking to customers that you already have. Your customers are your most reliable source for finding out what you need to do to increase business. Write up a survey and send it out to your already existing list of clients. Ask them what improvements they would like to see. Make these improvements and then post them on your blogs and social networks. New followers will see these adjustments to your business model and seek out your services.

FInally, remember to keep your employees happy. Remember you rely on your employees to get as much work done as possible. Customers will also judge your company based on the interaction they have with them. By keeping them well looked after you will ensure that they work to their best ability and gain your client's loyalty.

Financial Guide Editor Wed, 10 Jun 2015 10:13:35 -0400