"A Future So Bright - Learn From Their Mistakes!"

Written by A.T.Rendon


Continued from page 1

Aren't there any other matters to consider in deciding whether to incorporate or not?

Higher administration costs to comply with company law, payroll and bookkeeping is one factor. Another issue is pension planning. Extracting profits out ofrepparttar company as dividends rather than salary means that there will be no "net relevant earnings" and therefore pension contributions can't be made. Butrepparttar 118928 advent of stakeholder pension plans has meant that contributions up to œ3,600 per year can be made withoutrepparttar 118929 need for any earnings. If a person does not wish to transfer funds in existing plans into stakeholder because of high charges, there is a way out:repparttar 118930 best net relevant earnings (i.e. salary) in five consecutive years can be used for making contributions forrepparttar 118931 next five years, even if there were no salaries inrepparttar 118932 remainder four years. It is comforting to know that entitlement to basic state pension is not affected by taking a salary fromrepparttar 118933 company atrepparttar 118934 level of a person's personal allowances i.e. œ4,615.

Furthermore, an individual may decide not to bother with pension plans and instead invest in ISA. Often, these can be more efficient than pensions but that's besiderepparttar 118935 scope of this article. If that option is taken, no salary is necessary.

Another factor is business motoring. It might be tax advantageous for an unincorporated business that owns many cars not to incorporate because if these cars have some private use there will be benefits in kind taxed onrepparttar 118936 users. These are generally higher thanrepparttar 118937 straight apportionment between private and business for all car running costs inrepparttar 118938 case of sole traders.

The conclusion is that there can be considerable tax savings waitingrepparttar 118939 sole trader who decides to go downrepparttar 118940 road to incorporation. But, one needs to proceed with caution and careful planning. And don't forgetrepparttar 118941 biggest advantage of incorporation, which is Protection from Personal Liability. Incorporating is one ofrepparttar 118942 best ways to protect a business owner from personal liability. Shareholders of a company are generally not liable forrepparttar 118943 obligations ofrepparttar 118944 company. Creditors of a company may seek payment from its assets, but notrepparttar 118945 assets ofrepparttar 118946 shareholders. This means that business owners may engage in business without risking their homes or other personal property.

Thank you for takingrepparttar 118947 time to read this Article. I hope you've found it useful. If you have, please drop me an email and let me know what you think.

You can email me at...

constantinesavva@accamail.com

Alternatively, you can visit our website at http://www.tax-accounting-london.info and read a series of other full length articles that presentrepparttar 118948 complete picture on a variety of interesting topics.

If you would like to know how to save tax and make sure that more of your hard earned cash stays with you to expand your business and increase your profits, we have a Free Special Report addressed to small businesses either starting up or already in business. This Exclusive Free Special Report is available automatically when you subscribe to our regular series of Free Newsletters on finance advice and tax planning by visiting our subscription area on our website www.tax-accounting- london.info. It is complied from real life situations dealing with small business tax affairs for over 10 years and it is loaded with down-to-earth advice and practical, understandable examples.

LEGAL NOTICE Whilst every care has been taken inrepparttar 118949 preparation of this article,repparttar 118950 author cannot accept responsibility for any errors or omissions. Proper professional advice should be taken at all times.

We retain copyright forrepparttar 118951 contents of this article. Any unauthorized copying or onward distributions are prohibited without our consent.

A.T.Rendon is an entrepreneur and published writer. Subscribe to FREE Business Classifieds Newsletter-FBCN & receive FREE online access to our Password Protected "FREE Submit To Over 2.7 MILLION FREE Ad Sites - DAILY!" mailto:subscribe_fbcn9@emailexchange.org Visit us at: http://emailexchange.org/


8 things that bug me about doing business online

Written by Jeffrey Lant


Continued from page 1

#6 The People who know what they need but won't get it

For years, I've been advocating that if people want to succeed online they need things like their own domain, a listserver so that they can communicate with their prospects atrepparttar touch of a button, a sales manager so they can handle all prospect follow up, etc. These investments are minor and they're essential for online success. However, time after time I encounterrepparttar 118927 wiseguys who think they can succeed without having or using any ofrepparttar 118928 necessary tools. Usually in hot pursuit ofrepparttar 118929 latest "get rich quick" scheme, these puppies are determined to achieve success without bothering with any ofrepparttar 118930 necessary success tools.

#7 Newbies who know it all

Since 1993 I've been slogging daily onrepparttar 118931 'net helping to build a worldwide business at http://www.worldprofit.com I've never allowed myselfrepparttar 118932 arrogance of thinking I know it all; indeed, I've been humbled by how much there is to learn online, approachingrepparttar 118933 problem of mastering it one step at a time, one day at a time. It'srepparttar 118934 exact reverse ofrepparttar 118935 hotshot know-it-alls who have been onrepparttar 118936 'net 5 minutes, know everything, and dismissrepparttar 118937 notion that there may actually be something they don't know with an irritating wave ofrepparttar 118938 hand. "What me work?," they seem to say. These people are frequently young, male, and often make me want to take a long, hot bath after encountering them to rinse offrepparttar 118939 stench of stupidity and irresponsibility they emit.

#8 People who lie about money

The biggest tabu of our times is not sex, but money. In our culture, money and what it buys defines who we are. To increase our perceived standing either means getting more money -- or lying about what we've got. The Internet, with all its anonymity, has made it easier to lie about money. People lie atrepparttar 118940 drop of a hat about what they want and their ability to pay for it. People think nothing about lying; they see no negative consequences to whatever they say and so carry on merrily saying whatever comes into their heads, no matter that not a single word of it is true. To counter this trend, business people like me have to assume that every single person we encounter is a liar until proven otherwise. We have to run our businesses from a defensive posture, wondering who will do what to threatenrepparttar 118941 stability of our enterprise. Onlyrepparttar 118942 naive and foolish approach people as if they are honest, reliable, credible, and trust-worthy. The rest of us have to live each day in a state of permanent wariness. It's a helluva way to live, but necessary to online business success.

Well, there I've said it. There's more, of course, that needs to be said aboutrepparttar 118943 people who make doing business online unnecessarily difficult and unpleasant, but that's enough for today. If you see yourself in what I've written, DO SOMETHING ABOUT IT. Bad behaviors are not set in cement. I guess I'm still optimistic enough to think that if one sees them and understands them, one can change them. Right? Or am I being naive?



Jeffrey Lant Worldprofit, Inc. at http://www.worldprofit.com is in the business of helping people like you succeed online. To see our professionally designed, ready-to-move-into websites go to http://www.trafficcenter.com/properties


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