Share Little Random Acts of Kindness

Written by Josh Hinds

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Arenít 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 ďnet relevant earningsĒ and therefore pension contributions canít be made. Butrepparttar 124000 advent of stakeholder pension plans has meant that contributions up to ú3,600 per year can be made withoutrepparttar 124001 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 124002 best net relevant earnings (i.e. salary) in five consecutive years can be used for making contributions forrepparttar 124003 next five years, even if there were no salaries inrepparttar 124004 remainder four years. It is comforting to know that entitlement to basic state pension is not affected by taking a salary fromrepparttar 124005 company atrepparttar 124006 level of a personís personal allowances i.e. ú4,615.

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 thatís besiderepparttar 124007 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 124008 users. These are generally higher thanrepparttar 124009 straight apportionment between private and business for all car running costs inrepparttar 124010 case of sole traders.

The conclusion is that there can be considerable tax savings waitingrepparttar 124011 sole trader who decides to go downrepparttar 124012 road to incorporation. But, one needs to proceed with caution and careful planning. And donít forgetrepparttar 124013 biggest advantage of incorporation, which is Protection from Personal Liability. Incorporating is one ofrepparttar 124014 best ways to protect a business owner from personal liability. Shareholders of a company are generally not liable forrepparttar 124015 obligations ofrepparttar 124016 company. Creditors of a company may seek payment from its assets, but notrepparttar 124017 assets ofrepparttar 124018 shareholders. This means that business owners may engage in business without risking their homes or other personal property.

Thank you for takingrepparttar 124019 time to read this Article. I hope youíve found it useful. If you have, please drop me an email and let me know what you think.

You can email me atÖ

Alternatively, you can visit our website at and read a series of other full length articles that presentrepparttar 124020 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 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 124021 preparation of this article,repparttar 124022 author cannot accept responsibility for any errors or omissions. Proper professional advice should be taken at all times.

We retain copyright forrepparttar 124023 contents of this article. Any unauthorized copying or onward distributions are prohibited without our consent.

Josh Hinds - Founder Get the *BEST* in motivation and self-improvement directly in your inbox , visit:

Make It Fun and Get It Done

Written by Jean R. Charles

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be turned into something fun? I know this sounds like quite a challenge and some things are just not fun at all. However, I bet with some creative thinking there are possibilities. Try turning on some snappy music and dancing withrepparttar vacuum cleaner (a la Mrs. Doubtfire). Write a secret message inrepparttar 123999 dust on your dresser and erase it when you clean it. Write that dreaded report on brightly colored paper. Everyone in my office recognizes notes from me, they are on neon post-its.

For managers, setting up contests for your employees can create some fun and increase motivation. If you are a sole proprietor, you can set up a contest just for yourself. Simply set your goals and choose a prize for completion.

The idea is to make achieving goals and objectives fun. So, make your work fun and get it done.

Jean coaches professionals and small business owners to discover, design and live their just right lives. Through customized coaching sessions, she provides support, focus, and momentum to keep clients on track and progressing. She can be reached at or visited on the web at Subscribe to Just Right Coaching Clips newsletter by email:

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