For kids: Children change so rapidly from year to year, that it's often hard to know what will hold their interest and keep them challenged. Make sure gift is age appropriate so he or she can play with it now. A pre-schooler will get much more use out of an activity center than an older child's toy like Merlin. Give them different types of toys so they have a variety of activities to choose from. In other words, don't give them all dolls or all trucks. Add some educational games to mix. And buy what child likes. If he prefers a train set to racing cars, train set will get used.

For mom and dad: You can pretty much follow For her/For him suggestions. But, depending on how old they are, you may have to age-up a little. An older woman would probably prefer a more traditional fragrance like Chanel No. 5 or Halston to Harley Davidson's Destiny. A string of pearls or a pretty brooch are always nice. If dad's a golfer, a fisherman or enjoys some other activity, find an item he can use or something related that's fun.

For friends and others: If you're close to person, gifts can be more personal: bath sets, clothing or accessories, a piece of jewelry. Give a business associate an organizer or a small travel case. Or you can give anyone a more generic present like a gourmet gift basket that may include candy, fruit, nuts or other food items. This kind of gift makes a lovely addition to any home.

And, it sure beats that stale fruitcake!

Copyright © 2001 L.A. Nelson

Save on holiday gifts - most items mentioned in this article can be found at The Art of Gifting http://www.artofgifting.com

Find this article at: http://www.artofgifting.com/giftgiving.html

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 of company as dividends rather than salary means that there will be no "net relevant earnings" and therefore pension contributions can't be made. But advent of stakeholder pension plans has meant that contributions up to œ3,600 per year can be made without 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: best net relevant earnings (i.e. salary) in five consecutive years can be used for making contributions for next five years, even if there were no salaries in remainder four years. It is comforting to know that entitlement to basic state pension is not affected by taking a salary from company at 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 beside 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 on users. These are generally higher than straight apportionment between private and business for all car running costs in case of sole traders.

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

Thank you for taking 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

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