(PRWEB) January 9, 2005

An aircraft or marine note is created when either is purchased and the seller (either an aircraft dealer or an individual) provides the financing. Diversified Financial Services represents funding sources that purchase existing notes for cash. For aircraft and marine manufactures and dealers we can also work with you to arrange point of sale funding. This allows you to offer financing to your customers without having to secure bank lines of credit. Funding sources can also serve as an alternative form of financing source to flight schools that have trouble securing funds from banks due to length of time in business to purchase aircraft.

Leasing opportunities:

You know the needs of your business. You know the benefits of having that new equipment to increase the efficiency and productivity of your operation. You can select to lease the equipment you need without tying up valuable capital and lines of credit. Leases are paid with before tax money. Commercial aircraft leasing financing is available to international locations.

# # #

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Planning is the key to beating the IRS, legally.

Mistake #1

The first mistake is the biggest mistake of all. It’s failing to plan.

I don’t care how good you and your tax preparer are with a stack of receipts on

April 15.

If you didn’t know about the perfectly, legal techniques you could use to write off your kid’s braces as a business expense, there’s nothing we can do.

Tax coaching is about giving you a plan for minimizing your taxes. What should you do? When should you do it? How should you do it? And tax coaching offers two more powerful advantages.

First, it’s the key to your financial defenses. As a business owner, you have two ways to put cash in your pocket. Financial offense is making more. Financial defense is spending less. For most of us, taxes are our single, biggest expense.

So, doesn’t it just makes good sense to focus your financial defense where you spend the most. Sure, you can save 15% on car insurance by switching to GEICO. But how much will that really save in the long run.

Second, tax coaching guarantees results. You can spend all sorts of time, effort, and money promoting your business. But that does not guarantee results. Or, you can set up a medical expense reimbursement plan, deduct your daughter’s braces, and guarantee savings.

Let’s start by taking a quick look at how the tax system works. This will “lay a foundation” for understanding the specific strategies that I’ll be revealing shortly.

The process starts with income. And this includes most of what you’d think the

IRS is interested in:

• Earned income from wages, salaries, bonuses, and commissions.

• Profits and losses from your own business.

• Interest and dividends from bank accounts, stocks, bonds, and mutual funds.

• Capital gains from property sales.

• Pensions, IRAs, and annuity income.

• Alimony and gambling winning.

• Even illegal income is taxable.

The IRS doesn’t care how you make it; they just want their cut! (The good news is, if you’re operating an illegal business, you can deduct the same expenses as if you were running a legitimate business. If you’re a bookie, you can deduct the cost of a cell phone you use to take bets.

Once you’ve added up your total income, it’s time to start subtracting “adjustments to income.” These are a group of special deductions, listed on the first page of

Form 1040, that you can take whether you itemize deductions or not. Total

income minus adjustments to income equals “adjusted gross income” or “AGI.”

Adjustments to income are also called “above the line” deductions, because

you take them “above” AGI.

Adjustments include IRA contributions, moving expenses, half of your self employment tax, self-employed health insurance, Keogh and SEP contributions, alimony you pay, and student loan interest.

Once you’ve determined adjusted gross income, you can take a standard deduction or itemized deductions, whichever is greater. The standard deduction for 2009 is ,700 for single taxpayers, ,350 for heads of households, ,400 for joint filers, and ,700 each for married couples filing separately.

Tax deductions reduce your taxable income. If you’re in the 15% bracket, an extra dollar of deductions cuts your tax by 15 cents. If you’re in the 35% bracket, that same extra dollar of deductions cuts your tax by 35 cents. You can also deduct a personal exemption of ,650 for yourself, your spouse and any dependents.

Once you’ve subtracted deductions and personal exemptions, you’ll have taxable income. At that point, the table of tax brackets tells you how much to pay.

You may also owe self-employment tax, which replaces Social Security and Medicare for sole proprietors, partnerships, and LLCs. You’ll also owe state and local income and earnings taxes.

Finally, you’ll subtract any tax credits. These are dollar-for-dollar tax reductions, regardless of your tax bracket. So if you’re in the 15% bracket, a dollar’s worth of tax credit cuts your tax by a full dollar. If you’re in the 35% bracket, an extra dollar’s worth of tax credit cuts your tax by the same dollar. There’s no secret to tax credits, other than knowing what’s out there.

Ultimately, there are two kinds of dollars in this world: pre-tax dollars, and after-tax dollars. Pre-tax dollars are great. And after-tax dollars aren’t bad. But they’re not as good as pre-tax dollars.

So here’s the bottom line:

You lose . . . every time you spend after-tax dollars . . . That could have been pre-tax dollars.

Let me repeat that. You lose . . . every time you spend after-tax dollars . . . That could have been pre-tax dollars.

I’m going to spend the rest of this report talking about how to turn after-tax dollars into pre-tax dollars.

We’re going to use three primary strategies.

First, earn as much nontaxable income as possible. Second, make the most of adjustments to income, deductions, and credits. There’s really no magic to it, other than knowing what’s available. Finally, shift income to later tax years and lower-bracket taxpayers. This includes making the most of tax-deferred retirement plans and shifting income to lower-bracket children, grandchildren and other family members.

The second big mistake is nearly as important as the first, and that’s fearing, rather than respecting the IRS.

What does the kind of tax planning we’re talking about do to your odds of being audited? The truth is, most experts say it pays to be aggressive. That’s because overall audit odds are so low, that most legitimate deductions aren’t likely to wave “red flags.”

Audit rates are actually as low as they’ve ever been for 2004, the overall audit rate was just one in every 137 returns. Over half of those audits targeted the Earned Income Tax Credit for low-income working families. The IRS primarily targets small businesses, especially sole proprietorship’s, and cash industries like pizza parlors and coin-operated laundromats with opportunities to hide income and skim profits. In fact, they publish a series of audit guides that you can download from their web site that tell you exactly what they’re looking for when they audit you!

Take a look at the bottom of the chart. You’ll see that the IRS audits just about one-third of one percent of s corporations and partnerships. If you’re really worried about being audited, you might consider reorganizing your business to help fly “under the radar.”

If you’re like most business owners, you pay as much in self-employment tax as you do in income tax. If that’s the case, you might consider setting up an “S” corporation or limited liability company to reduce that tax.

If you run your business as a sole proprietor, you’ll report your net income on Schedule C. You’ll pay tax at whatever your personal rate is. But you’ll also pay self-employment tax, of 15.3% on your first ,200 of “net self employment income” and 2.9% of anything above that.

Let’s say your profit at the end of the year is ,000. You’ll pay regular tax at

your regular rate, whatever that is. You’ll also pay about ,000 in self employment tax.

The self-employment tax replaces the Social Security and Medicare tax that your employer would pay and withhold if you weren’t self-employed. How many of you plan to retire on Social Security?

An “S” corporation is a special corporation that’s taxed like a partnership. The

corporation pays the owners a reasonable wage for the work they do. If there’s

any profit left over, it passes through to the shareholders, and the shareholders pay the tax on their own returns. So the S corporation splits the owners income into two parts, wages and pass-through distributions.

Here’s why the S corporation is so attractive. You’ll pay the same 15.3% tax on your wages as you would on your self employment income.

BUT – there’s no Social Security or self-employment tax due on the dividend pass-through. Let’s say your S corporation earns the same ,000 as your proprietorship. If you pay yourself ,000 in wages, you’ll pay about ,500 in Social Security. But you’ll avoid ,500 in self-employment tax on the pass-through distribution.

You can also use an S corporation to shift income to a lower-bracket family member. Let’s say your son is attending college out of state. You can earn money in your business, pay tax on it, and use after-tax dollars to pay his tuition. Or you can give him part of the corporation, pass that income through to him directly, let him pay tax at his lower rate, and pay less tax on those tuition dollars.

The S corporation takes a little more paperwork to operate than the proprietorship. You’ll have to file articles of incorporation with the (Secretary of State/Department of Corporations, etc.), get an employer ID number from the IRS, observe the usual corporate formalities, and manage a payroll for yourself.

And you have to pay yourself a reasonable wage for your service. That means

]]>

something like you’d pay for an outside employee to do the same work. The IRS is on the lookout for business owners who take all their income as passthrough. They’re not likely to believe you’ll find a brain surgeon willing to work a year for ,000. That reasonable wage varies from industry to industry. But the S corporation can still be an effective tool for cutting your overall tax.

Now let’s talk about the fourth mistake:

Choosing the wrong retirement plan.

If you’re looking to save more than the ,000 limit for IRAs, you have three main choices: Simplified Employee Pensions, or “SEPs,” SIMPLE IRAs, or 401ks.

I’m not here to make you an expert on retirement plans. But I can help you decide pretty quickly if the plan you have is right for you – or if you should be looking for something more suited for your specific needs.

The next step up the retirement plan ladder is the SIMPLE IRA. This is another “turbocharged IRA that lets you contribute more than the usual ,000 limit:

You and your employees can contribute up to ,500. If you’re 50 or older you can make an extra ,000 “catch up” contribution. If your income is under ,000, that may be more than you could sock away with a SEP.

But – you have to match everyone’s deferral or make profit-sharing contributions. You can match everyone’s contribution dollar-for-dollar up to 3% of their pay, or contribute 2% of everyone’s pay whether they defer or not. If you choose the match, you can reduce it as low as 1% for two years out of five.

The money goes straight into employee IRAs. You can designate a single financial institution to hold the money, or let your employees choose. Like the SEP, there’s no set-up charge or annual administration fee.

The SIMPLE IRA may be best for part-time or sideline businesses earning less than ,000. You can also hire your spouse or children, and they can make SIMPLE contributions. We’ll be talking more about those strategies in a few minutes.

The final step up the ladder is the 401k. Most people think of 401ks as retirement plans for bigger businesses. But you can set up what’s called a “solo” or “individual” 401k just for yourself.

The 401k is a true “qualified” plan. This means you’ll set up a trust, adopt a written plan agreement, and choose a trustee. But the 401k lets you contribute far more money, far more flexibly, than either the SEP or the SIMPLE.

You and your employees can “defer” 100% of your income up to ,000. If you’re 50 or older, you can make an extra ,000 “catch up” contribution. You can choose to match your employees contributions, or make profit sharing contributions up to 25% of their pay. That’s the same percentage you can save in your SEP – on top of the ,000 or ,000 deferral.

The maximum annual contribution is ,000 per person, plus any “catch up” contributions.

You can offer yourself and your employees loans, hardship withdrawals, and all the bells and whistles “the big boys” offer their employees. 401ks are generally more difficult to administer. There are anti discrimination

rules to keep you from stuffing your own account while you stiff your employees. If you operate your business by yourself, you can establish an “individual” 401k with less red tape. And again, you can hire your spouse and contribute to their account.

If you’re older, and you want to contribute more than the ,000 limit for SEPs or 401ks, consider a traditional defined benefit pension plan:

Defined benefit plans let you guarantee up to 5,000 in annual income.

You can contribute – and deduct – as much as you need to finance that benefit. You’ll calculate those contributions according to your age, your desired retirement age, your current income, and various actuarial factors.

A 412(i) plan, which is funded entirely with life insurance or annuities, lets you

contribute even more. Defined benefit plans have required annual contributions. But you can combine a defined benefit plan with a 401k or SEP to give yourself a little more flexibility.

Now let’s talk about the fifth mistake: Missing family employment.

Hiring your children and grandchildren can be a great way to cut taxes on your income by shifting it to someone who pays less.

Yes, there’s a minimum age. They have to be at least seven years old. Their first ,700 of earned income is taxed at zero. That’s because it’s the standard deduction for a single taxpayer – even if you claim them as your dependent. Their next ,825 is taxed at just 10%. So you can shift a lot of income downstream.

You have to pay them a “reasonable” wage for the service they perform. The Tax Court says a “reasonable wage” is what you’d pay a commercial vendor for the same service, with an adjustment made for the child’s age and experience. So, if your 12-year-old son cuts grass for your rental properties, pay him what a landscaping service might charge. If your 15-year-old helps keep your books, pay him a bit less than a bookkeeping service might charge. Does anyone have a teenager who helps with your web site? What would you pay a commercial designer for that service?

To audit-proof your return, write out a job description and keep a time sheet. Pay by check, so you can document the payment.

You have to deposit the check into an account in the child’s name. But it doesn’t have to be his pizza-and-Nintendo fund. It can be a Roth IRA for decades of tax-free growth. It can be a Section 529 college savings plan. Or it can be a custodial account that you control until they turn 21. Now, you can’t use money in a custodial account for your obligations of parental support. But private and parochial school aren’t obligations of parental support. Sleep away summer camp isn’t an obligation of parental support.

Let’s say your teenage daughter wants to spend two weeks at horse camp.

You can earn the fee yourself, pay tax on it, and pay for camp with after-tax dollars. Or you can pay her to work in your business, deposit the check in her custodial account, and then, as custodian write the check to the camp. Hiring your daughter effectively lets you deduct her camp as a business expense.

If you hire your child to work in an unincorporated business, you don’t have to withhold for Social Security until they turn 18. So this really is tax-free money. You’ll have to issue them a W-2 at the end of the year. But this is painless compared to the tax you’ll waste if you don’t take advantage of this strategy.

Now let’s talk about health-care costs. Surveys used to show that taxes used to be small business owners’ biggest concern. Now it’s rising health care costs.

If you pay for your own health insurance, you can deduct it as an adjustment to income on Page 1 of Form 1040. If you itemize deductions, you can deduct unreimbursed medical and dental expenses on Schedule A, if they total more than 7.5% of your adjusted gross income. But most of us don’t spend that much.

What if there were a way to write off medical bills as business expenses?

There is, and it’s called a Medical Expense Reimbursement Plan, or Section 105 Plan.

This is an employee benefit plan, which means it requires an employee. If you operate your business as a sole proprietorship, partnership, LLC, or S corporation, you’re considered self-employed. So, if you’re married, hire your spouse. If you’re not married, you can do this with a C corporation. But you don’t have to be incorporated. You can do it as a sole proprietor or LLC by hiring your spouse.

The one exception is the S corporation. If you own more than 2% of the stock, you and your spouse are both considered self-employed for purposes of this rule. You’ll need to use another source of income, not taxed as an S corporation, as the basis for this plan.

Let’s assume you’re a sole proprietor and you’ve hired your husband. The plan lets you reimburse your employee for all medical and dental expenses he incurs for himself – his spouse (which covers you) – and his dependents.

This includes all the expenses you see listed here. Major medical insurance, long-term care coverage, Medicare, and Medigap insurance. Co-pays, deductibles, and prescriptions. Dental, vision, and chiropractic care. Braces for your kids’ teeth, fertility treatments, and special schools for learning-disabled children. It even covers nonprescription medications, vitamins and herbal supplements, and medical supplies. The best part is, this is money you’d spend anyway, whether you get a deduction or not. You’re just moving it from a nondeductible place on your return, to a deductible place.

There’s no pre-funding required. You don’t have to open a special account, like with Medical Savings Accounts of flex-spending plans. You don’t have to decide how much to contribute, and there’s no “use it or lose it” rule. It’s just an accounting device that lets you characterize your family medical bills as business expenses.

You can reimburse your employee or pay health-care providers directly. Let’s say your husband needs to pick up a prescription. He can use his own money, and you can reimburse him. Or he can use a business credit card and charge it to the business directly.

You’ll need a written plan document, which we can provide you. You’ll need to track your expenses under the plan, which we can also help with. But there’s no special reporting required. You’ll report reimbursements as “employee benefits” on Schedule C, Form 1065, or Form 1120. You’ll save income tax and self-employment tax.

If you have non-family employees, you have to include them too. You can exclude employees under age 25, who work less than 35 hours per week, less than nine months per year, or who have worked for you less than three years.

Non-family employees may make it too expensive to reimburse everyone as generously as you’d cover your own family. But, if you’re offering health insurance, you can still use a Section 105 plan to cut your employee benefit cost. You can do it by switching to a high-deductible health plan, and using a Section 105 plan to replace those lost benefits.

If a medical expense reimbursement plan isn’t appropriate, consider the new Health Savings Accounts. These arrangements combine a high-deductible health plan with a tax-free savings account to cover unreimbursed costs.

To qualify, you’ll need a “high deductible health plan” with a deductible of at least ,000 for singles or ,000 for employees and an out-of-pocket limit of ,100 for singles or ,200 for families. Neither you nor your spouse can be covered by a “non-high deductible health plan” or Medicare. The plan can’t provide any benefit, other than certain preventive care benefits, until the deductible for that year is satisfied. You’re not eligible if you’re covered by a separate plan or rider offering prescription drug benefits before the minimum annual deductible is satisfied.

Once you’ve established your eligibility, you can open a deductible savings account. You can contribute 100% of your deductible up to ,000 for singles or ,950 for families. You can use it for most kinds of health insurance, including COBRA continuation and long-term care premiums. You can also use it for the same sort of expenses as a Section 105 plan.

The Health Savings Account isn’t as valuable as the Section 105 Plan. You’ve got specific dollar contribution limits, and there’s no self-employment tax advantage. But Health Savings Accounts can still cut your overall healthcare costs.

Let’s look at a specific example to see just how much the Section 105 Plan saves. Our “guinea pig” here is a self-employed consultant, married, with two children. He pays 25% in federal income tax and 15.3% in self-employment tax.

We replaced a traditional “first dollar” insurance policy with a high-deductible plan from the same company. In this case, it meant a ,000 deductible before benefits kick in. But it cut his premium by ,620. So even if he hits that ,000 deductible, he saves ,620 in premiums. And now, since he deducts his medical costs from his business income, his self-employment tax savings add another ,156 to his bottom line. He’ll save at least ,121 – and possibly much more.

The home office deduction is probably the most misunderstood deduction in the entire tax code. For years, taxpayers feared it raised an automatic audit flag. But Congress has relaxed the rules, so now it’s far less likely to attract attention.

Your home office qualifies as your principal place of business if: 1) you use it “exclusively and regularly for administrative or management activities of your trade or business”; and 2) “you have no other fixed location where you conduct substantial administrative or management activities of your trade or business.” This is true even if you have another office, so long as you don’t use it more than occasionally for administrative or management activities.

You have to use your office regularly and exclusively for business. “Regularly” generally means 10-12 hours per week. To prove your deduction, keep a log and take photos to record your business use.

You can claim a workshop, studio, or “separately identifiable” space you use to store products or samples. The space doesn’t have to be an entire room. If you use it for more than one business, both have to qualify to take the deduction.

Once you’ve qualified, you can start deducting expenses. If you’re taxed as a proprietor, you’ll use Form 8829. If you’re taxed as a partnership or corporation, there’s no separate form, which helps you “fly under the radar.”.

First, you’ll need to determine business use percentage of your home. You can divide by the number of rooms if they’re roughly equal, or calculate the exact percentage of square footage. You can exclude common areas like halls and stairs to boost that business use percentage

Next, you’ll deduct your business use percentage of rent, mortgage interest, and property taxes.

You’ll depreciate the business use percentage of your home’s basis (excluding land) over 39 years as nonresidential property.

Finally, you’ll deduct your business use percentage of utilities, repairs, insurance, garbage pickup, and security. If business use percentage for specific expenses differs from business use percentage for the overall home – such as high electric bills for home office equipment – you can claim the difference as “direct” expenses.”

Claiming a home office can also boost your car and truck deductions. That’s because it eliminates nondeductible commuting miles for that business.

You can use home office expenses to shelter profits, but not below zero. If your home office expenses exceed your net business income, you can carry forward those excess losses to future years.

When you sell your home, you’ll have to recapture any depreciation you claimed or could have claimed after May 6, 1997. You can still claim the 0,000 tax-free exclusion for home office space unless it’s a “separate dwelling unit.”

Now let’s talk about car and truck expenses. I don’t want to take too much time here, but I do want to point out the most common mistake clients make with these expenses.

Are you detecting a pattern here? That deduction is the same for everyone, no matter what we drive. Do you think we all spend the same to operate our cars?It might surprise you to see how much it really costs to operate your car. And it’s probably more than 55 cents per mile!

Every year, AAA publishes a vehicle operating cost survey. Costs vary according to how much you drive – but if you’re taking the standard deduction for a car that costs more than 55 cents/mile, you’re losing money every time you turn the key.

If you’re taking the standard deduction now, you can switch to the “actual expense” method if you own your car, but not if you lease. You can’t switch from actual expenses to the mileage allowance if you’ve taken accelerated depreciation.

Let’s finish up with some fun deductions for meals and entertainment. The basic rule is that you can deduct cost for meals with a bona fide business purpose. This means clients, prospects, referral sources, and business colleagues. And let me ask you – when do you ever eat with someone who’s not a client, prospect, referral source, or business colleague? If you’re in a business like real estate, insurance, or investments, where you’re marketing yourself, the answer might be “never.” Be as aggressive as you can with what you define as bona fide business discussion!

The general rule is, you can deduct 50% of your meals and entertainment, so long as it isn’t “lavish or extraordinary.” The IRS knows you have to eat, so you can’t deduct it all. But they’ll meet you halfway.

You don’t need receipts for expenses under . But you do need to record the five pieces of information listed on the right side of the slide in your business diary or records. And you should do it as close to daily as possible.

The IRS wants to know how the cost of the meal, the date of the meal, the place where it takes place, the business purpose of your discussion, and your business relationship with your guest.

How many of you entertain at home? Do you ever discuss business? Are you deducting those meals, too? There’s no requirement that you eat out. Don’t forget to deduct home entertainment expenses too! You can deduct entertainment expenses if they take place directly before or after substantial, bona fide discussion directly related to the active conduct of your business. You can deduct the face value of tickets to sporting and theatrical events, food and beverages, parking, taxes, and tips.

Now that you see how business owners miss out on tax breaks, let’s talk about the biggest mistake of all. What mistake is that?

The biggest mistake of all is failing to plan.

Have you all heard the saying “if you fail to plan, you plan to fail”? It’s a cliché because it’s true. Fortunately, our tax coaching service avoids the problem.

We offer true tax planning. We’ll tell you what to do, when to do it, and how to do it. We start with a three-page “check the box” questionnaire that takes 5 minutes to fill out.

Then we prepare a written tax plan that addresses you family, home, and job, your business, and your investments. We’ll even review your last three years’ tax returns to see if we can find savings that were overlooked.

(PRWEB) March 6, 2005

Today at press conferences held at Bakersfield City Hall Mayor Harvey Hall joined with the Executive Director of the Pacific Housing & Finance Agency (PHFA), other local elected officials, business leaders and housing advocates to announce the launch of a new home ownership program designed to overcome common barriers to home ownership working individuals and families face in Bakersfield. Called Public Lease-Purchase, this government-sponsored initiative eliminates the need for a down payment and the program pays all of the buyerÂ?s closing costs. Additionally, the program is available to persons with credit problems.

Mayor Hall stated that Â?many working individuals and families have good, stable jobs but still find it very difficult, if not impossible, to achieve the dream of home ownership. That is why I am happy to support the launch of this new initiativeÂ?. Mayor Hall added that Â?Public Lease-Purchase is one of the few affordable housing initiatives available to moderate-income households. TodayÂ?s middle-income families need help buying a homeÂ?.

PHFA is a non-profit, regional housing agency created through the membership of over 50 cities and counties in California (http://www.phfa.net ). In December of 2004 the City of Bakersfield joined PHFA. The Agency is charged with expanding affordable housing and economic development opportunities for its members. In 2000 PHFA sponsored a pilot version of the lease-purchase home ownership program and many families were assisted. Based on this success, PHFAÂ?s Board of Directors approved a new version of the program in 2004 called Public Lease-Purchase that will be available on a permanent basis throughout PHFAÂ?s member communities including the City of Bakersfield.

Public Lease-Purchase offers qualified home buyers a 30-year rate and term-reset mortgage with no down payment. The program pays all of the closings costs. Up to the first 72 months of the mortgage is the lease-purchase period. During this time the home and the mortgage are held by PHFA. The home buyer, called the lease-purchaser, makes a lease payment that is equivalent to the mortgage payment plus taxes and insurance.     Participants can also use the lease-option period to rebuild their credit record.    Lease-purchasers can exercise their purchase option any time 12 months after the initiation of the lease by assuming the existing mortgage or by obtaining new financing. Then they are the full owner of the home and have access to the equity that may have built-up during the lease-purchaser period. Consumers can choose any home, new or existing, including single-family homes, condominium and town homes. The maximum purchase price is $ 475,000.

David Elder, PHFAÂ?s Executive Director, expressed confidence that the City of Bakersfield membership in PHFA will pay off big for area home buyers. Bakersfield is a great market for Public Lease-Purchase. Â?There are many families here who can afford the monthly mortgage payment but just donÂ?t have the cash and-or credit to qualify nowÂ?. Mr. Elder noted that one of the great things about Public Lease Purchase is that it represents a new home buying resource in Bakersfield; it does not rely on or take away from existing city subsidies or conventional lending programs. Â?This is particularly important in a time when local governments like Bakersfield are finding their resources very stretchedÂ? he added.

Public Lease-Purchase also expands business opportunities for mortgage and real estate professionals as it opens up the home buying market to more households. The Clearinghouse CDFI is a for-profit, community lender that finances housing and community economic development projects in select communities in California. Doug Bystry, the President and CEO of the Clearinghouse CDFI said his company will support the expansion of home ownership opportunities in Bakersfield through the Public Lease-Purchase program by providing local brokers and lenders accesses to mortgage capital. He added Â?todayÂ?s home buying market can be very challenging for moderate-income individuals. Lenders need more tools to help people get into homes. Public Lease-Purchase is a great resource.Â?

Real Estate professionals will also be able to use the Public Lease-Purchase program to serve more clients. Jeanne Radsick of the Bakersfield Association of REALTORS® joined today’s press conference, stating Â?this is an innovative approach to buying a home and the Association wishes to encourage real estate professionals to take advantage of this helpful program.”

Prospective home buyers are encouraged to learn more about the program by attending a free Home Buyer Information Workshop:

Dates:

Saturday, March 5, 2005

Saturday, March 12, 2005

Saturday, March 19, 2005

Time:

10 A.M. to 12 P.M (all dates)    

Location:

Silver Creek Community Center

Multi-Purpose Room

7011 Harris Road,

Bakersfield, CA 93313

Corner of Harris Road and Reliance Drive

A complete list of additional workshops and other program information is available by calling (877) 873-1988. An online application is available at the programÂ?s Internet website at http://www.PublicLeasePurchase.org.

###

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Find More Tax Lease Press Releases

(PRWEB) October 30, 2004

The idea is simple. We pool your employees into a large group of employees to get better rates on your current operating expenses. The employer avoids payroll, insurance and tax hassles. Employee Leasing (PEO)/Payroll services appeals to small to medium sized firms who want to be free from bookkeeping chores and labor problems.

PML Holdings Group is currently giving free consultations to businesses that are interested in cutting costs by means of Employee Leasing / PEO and payroll services.

PML Holdings Group has been helping small to mid-size businesses since 1985. Contact PML today to schedule your free consultation. Our staff will meet with you and decide the best way to put money back in your pocket. With PML you will no longer have to prepare payroll, tax withholding, unemployment claims, wage garnishments, workers compensation, 401k and health benefits. Let the experts handle these issues and cut your cost of having employees.

# # #

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

How can leasing business equipment let you spend less? Purchasing business equipment often needs a significant amount of money and in case you have a limited finances, you may have to spend a large portion of your current working capital buy your equipment. In case you’re “saving up” to buy that new equipment, you can even skip fantastic business opportunities because of the fact that you do not have plenty of working capital to get the equipment when you need it.

Alternatively, you will have the choice to lease or “rent” the equipment you will require on your business operations and make sure that you do not have to spend a great deal of cash. Business equipment lease financing offers you the opportunity to pay out a little monthly payment and also you find full utilization of the equipment all at once.

Finance your Business through Leasing of Equipment

Leasing business equipment is typically simpler in obtaining a business loan. Although applying for a small business financial loan might take 30 days to a couple of months and months to complete, commonly it needs a huge down payment and several guarantee, with regards to the requirements you have provided and also on eligibility, obtaining lease takes only a few days and also funding may take place in as little as per week in the day of submission date.
Also start-up companies can buy lease financing and acquire all of the essential equipment needed to begin the company operations. Do you have an established business and so are planning for enlargement? If yes, you’ll be able to tremendously take advantage of your own companies established credit rating as well as the tax advantages that come with leasing.

]]>

Tips about Leasing Business Equipment

If you have made a decision to lease equipment, think about the following tips how you can get approved faster and find the best rental package.

Look at the leasing company’s requirements. Several leasing businesses just acknowledge consumers together with a good credit score background. If you possess any start-up company or perhaps have yet to create business credit score, ensure that the selected leasing company offers a lease plan that matches fits your qualifications. Even an advanced established company, nevertheless don’t have any credit score so far, you will end up as any start-up business unless you can offer commercial references. It’s best if you open up a Dunn & Bradstreet consideration and also have your complete business traces listed prior in applying for any type of financing.

On the other hand, when you have bad credit issues, you ought to find a lessor that provides particular lease programs with regard to businesses that are credit challenged. The majority of leasing companies that offer bad credit lease programs will only take into account the application when the poor credit concern is already settled before. When the credit rating concern is Not yet settled before, expect you’ll give a letter associated with description and any records that you must prove your claim.

Examine different lease packages. Leasing programs vary depending on the leasing business. Additional factors that may impact the terms of the lease and the price are the type of business you have, how much lease you need, age of your business, business credit rating, and so on.

It’s essential to compare the offers coming from a minimum of 3 potential leasing companies to make certain that you will get a good deal. Away from the value, it’s also wise to measure the specific terms and conditions of the lease. As soon as you have decided on the lease companion, expect that you’ll negotiate. Unfortunately many companies and challenged credit card companies do not have a choice to negotiate a great deal. It never hurts to ask, you possibly able to save your budget about the administrative costs.

Do not right away acknowledge the first offer to you. You can cut a large portion of your rental fee if you at least try to negotiate with a potential owner before signing the contract. This works best for established businesses with good credit.

Lai Castillo is an equipment leasing broker that specializes in getting start up equipment leasing and providing articles in finding solutions for Leasefunders.com. For equipment lease application visit leasefunders.com.

Find More Tax Lease Articles

Municipal leasing is also known as a Tax-Exempt Lease/Purchase agreement or an installment purchase agreement that are used to acquire personal and real property. This is the most common financing alternative to bonds and loans. Payments are generally level and are tied to the useful life of the equipment In addition; a tax-exempt lease/purchase agreement does not constitute a long-term debt obligation because of the non-appropriation language included in the agreement. The agreement limits the payment obligation to the current operating budget period of the lessee. In case the future funds are not appropriated or submitted, the equipment is returned to the leasing company. All the lease manufacturer’s warranties are passed to the Lessee under this agreement only.

When signing a municipal lease, make sure that the agreement and all the exhibits are properly executed. However, there is a chance that a particular department or agency may be exceeding their authority when executing a document.

Municipal leasing agreements are used to finance everything from highway equipment, fire rescue, telecommunications systems, and emergency equipment to jail cells. They are ideal for every type of financing, major being the energy and water projects. The voter referendums can be easily avoided as the approval process for a lease is generally much easier, faster and ultimately less expensive than issuing a bond.

Leasing is a most viable and financially sound option for many municipalities to overcome their revenue shortfalls so as to provide quality public services.

(PRWEB) March 5, 2010

CEO statement

“It has been an exceptional year in which our business-model has proven its worth” says De Lage Landen CEO Ronald Slaats. “I am happy to see that our strategy to partner with our clients has paid off. We operated in a turbulent market in which some parties scaled down their operations and others competed on price to gain market share. Nevertheless, our operational result is pretty good compared to our competition and, in addition, we seized selected business opportunities by closing new partnerships, concluded some portfolio acquisitions, and expanded into the clean technology market. We also continued to standardize our processes and systems which enables us to better serve our global partners. A tighter grip on our costs combined with improved risk management capabilities contributed to a bottom-line result that, while not in keeping with our past performance, may be called more than satisfactory in view of the current circumstances.

“Our long term business strategy is still valuable within the context of the crisis we envisioned. As a part of the Rabobank Group we always operate in a very customer connected matter. Partnership is a part of all our endeavors. We always stayed away from differentiating solely on price and the subsequent commoditization of our industry. Sustainable success in our business requires a thorough understanding of our customers’ business. It requires a strategy that is aimed at delivering added value all along the distribution chain of our customer. And last but not least, we have the right people to execute this strategy–people who are motivated to work with customers and who are eager to build a relationship instead of merely closing a deal. To me, that is what made our company stand out, and that’s what we will continue to focus on.”

Core activities

In 2009 De Lage Landen continued to support Rabobank in its ‘Allfinanz’ ambition in the Dutch home market, as well as in its ambition to be the world’s leading food and agri bank.

De Lage Landen’s vendor finance unit maintained a disciplined approach regarding new business opportunities. In particular, the business units Healthcare and Food & Agri reported strong new business volumes. Vendor Finance started operations in Chili and South Africa. Impairment charges increased across the board and affected especially the business units Transportation and Construction & Industrial. Thanks to its healthy financial performance and several new partnerships, De Lage Landen won the European Vendor Partnership of the Year award.

De Lage Landen expanded its car lease activities into Italy via an acquisition. Athlon Car Lease can now service customers in nine European countries. The aforementioned acquisition, as well as several new clients, resulted in growth of the car fleet to 216,000 cars. Car lease-related results suffered from unfavorable conditions on the used car market. Toward the end of the year, however, this market started to pick up again.

In the Dutch home market De Lage Landen offers consumer finance via both local Rabobanks and the direct-to-market consumer finance label, Freo. The Dutch consumer finance market grew modestly in 2009 and saw competitors withdrawing from the market and regulatory bodies increasing their supervision of this industry. De Lage Landen managed to grow its share of this turbulent market and reported an above-budget net profit. Freo emerged from the customer satisfaction survey by Independer, an independent online financial advisor, as the best consumer credit provider of 2009.

Corporate Social Responsibility

De Lage Landen’s CSR philosophy rests on four pillars: the way the company wishes to do business, sustainable & innovative solutions, community involvement and eco efficiency. De Lage Landen believes that by expanding into the clean tech industry and offering innovative financing solutions, it can differentiate itself in the market place, thereby creating significant business opportunities.

In the Netherlands, for example, business is starting to pick up, and De Lage Landen has signed deals on energy-saving equipment, heat and cold storage, and co-generation. Athlon Car Lease has defined electric mobility as a very important development track and has signed a Memorandum of Understanding with Renault for the purchase of electric cars as of 2011. In the USA, a dedicated solar energy team has been formed to tap into the opportunities this market has to offer.

Internally, De Lage Landen has established a Business Principles Committee to advise the Executive Board on CSR and business ethics-related issues. In line with Rabobank’s target, the company has developed a global plan to reduce the CO2 footprint per fte by 20% by 2014. Implementing the Athlon Car Lease Green Car Plan for employees in the Netherlands; and aiming to obtain Eco-Certifications for the offices in Eindhoven, The Netherlands (BREAAM); and Wayne, United States (LEED) are part of that plan as well.

Outlook

De Lage Landen expects the world economy to recover in 2010, although the recovery will be unevenly spread and fragile. The effects of the measures it took in 2009 will come to fruition in 2010, thereby allowing a controlled growth of the portfolio and net profit. De Lage Landen will continue to work closely with Rabobank, both domestically and internationally. It will focus on further integrating its product offering all along the distribution chain of its customers. By developing innovative financing products, particularly in Clean Tech, De Lage Landen will strive to become a “partner in sustainable solutions”.

Athlon Car Lease expects it will increasingly be invited to respond to tenders for international fleet solutions. In addition, the market, both domestically and internationally, increasingly asks for advice/consultancy on sustainable mobility solutions, which Athlon is well positioned to provide.

In a market that has seen significant changes in the competitive landscape, Consumer Finance is expected to capture opportunities for organic and non-organic growth.

De Lage Landen International B.V.

De Lage Landen is a global provider of high-quality asset-based financing products. Headquartered in Eindhoven (the Netherlands), De Lage Landen is 100% owned by Rabobank. This Dutch bank is Triple-A rated by the major rating agencies Moody’s and Standard & Poor’s.

With offices and joint ventures in more than 35 countries worldwide, De Lage Landen specializes in vendor finance programs on a worldwide scale. The global offering also includes an array of commercial finance solutions. The company focuses on the following industries: Food & Agriculture, Healthcare, Office Technology, Financial Institutions Transportation and Materials Handling & Construction. De Lage Landen also offers private-label leasing programs for the banking industry, and delivers a broad range of financial services to leasing organizations and non-banking financial institutions.

In the Netherlands, De Lage Landen offers a broad range of financing products through local Rabobank and directly to the market. These products include Equipment Leasing, Car and Commercial Vehicle Leasing, ICT Leasing, Consumer Finance, and Factoring.

Athlon Car Lease International became part of De Lage Landen Group in 2006. Athlon Car Lease International is an international provider of operational car leasing, active in nine European countries.

For more information, please visit our website: http://www.delagelanden.com.

# # #

Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Wayne, PA (PRWEB) January 7, 2010

De Lage Landen Financial Services, a global provider of high-quality asset-based financing products to manufacturers and distributors of capital goods, announced today that it has launched a new clean technology financing business focused on the commercial and government space.

“In a time when many financial institutions are being forced to scale back, De Lage Landen is expanding into new ventures,” says Bill Stephenson, chief commercial officer. “The clean technology market represents multiple growth opportunities for our company and is in direct alignment with the overall Rabobank Group’s focus on corporate social responsibility. De Lage Landen’s advancements into new clean technology equipment types are a natural evolution of the Group’s overall strategy.”

Starting this year, the clean technology group will launch a solar energy business focused on financing the entire lifecycle of solar projects. Extended terms and working capital finance solutions will be available for the solar distribution channel, as well as debt and equity financing for commercial, industrial and government projects.

To manage this new business, De Lage Landen has hired a team of solar energy finance experts–Ed Sproull, Ann Hardy and Christine Park, all formerly with HSH Nordbank. This team has been at the cutting edge of solar energy finance and brings expertise unmatched in the marketplace.

“We are excited to be members of such a strong organization,” says Sproull, who has been named vice president of sales for the clean technology group. “As part of the Rabobank Group, De Lage Landen has the strength, stability and desire to grow in socially responsible markets, which is a perfect fit for our team. We look forward to establishing De Lage Landen as a leader in solar energy finance and adding value to the company’s existing partnerships.”

About De Lage Landen

De Lage Landen is a global provider of high-quality asset-based financing products. Headquartered in Eindhoven (the Netherlands), De Lage Landen is 100% owned by Rabobank. This Dutch bank is triple-A rated by the major rating agencies Moody’s and Standard & Poor’s.

With offices and joint ventures in more than 35 countries worldwide, De Lage Landen specializes in asset financing and vendor finance programs on a worldwide scale. The global offering also includes an array of commercial finance solutions. The company focuses on the following industries: Food & Agriculture, Healthcare, Office Equipment, Technology Finance, Financial Institutions, Transportation and Construction & Industrial. De Lage Landen also offers private-label leasing programs for the banking industry, and delivers a broad range of financial services to leasing organizations and non-banking financial institutions.

In the Netherlands, De Lage Landen offers a broad range of financing products, both through local Rabobanks and directly to the market. These products include Equipment Leasing, Car and Commercial Vehicle Leasing, ICT Leasing, Consumer Finance and Factoring.

Athlon Car Lease International became part of De Lage Landen Group in 2006. Athlon Car Lease International is an international provider of operational car leasing, active in eight European countries.

In 2008 De Lage Landen achieved a net profit of €235 million and a lease portfolio of €23.3 billion. By year-end 2008, De Lage Landen had 4,965 employees. For more information, please visit our website: http://www.delagelanden.com.

###

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

(PRWEB) September 30, 2004

As a small business owner, itÂ?s wise to familiarize yourself with some key deductions that may reduce your tax bill for 2004.

Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with your accountant well before the year-end rush to discuss such matters as tax planning, and record keeping for tax deductions.

Seven common small business tax deductions:

1. Employee Benefit Plans – You may deduct contributions to employee benefit plans (such as health insurance plans and retirement plans). Depending on your circumstances the maximum contribution that you may deduct per employee in a qualified retirement plan can go up to:

$ 100,000 or more With a Defined Benefit Plan

$ 44,000             With a 401(k) plan

$ 41,000             With a SEP-IRA or Keogh

2. Automobile ExpensesÂ? You can elect to deduct the actual expenses incurred (including gas, oil, tires, repairs, insurance, depreciation, and rent or lease payments) for the business-related portion of your car or truck expenses, or simply take the 2004 standard mileage rate of 37.5 cents per business mile.

3. Taxes – You may deduct Social Security and Medicaid taxes paid to match required withholdings on employee wages, federal unemployment taxes, as well as real estate or personal property taxes paid on business assets.

4. Home Office – Depending on whether you use your home or other real estate for business purposes, you may deduct some or all of any mortgage interest paid, as well as some or all of the maintenance and repair expenses associated with the property. The cost of utilities and business supplies associated with business use are also deductible.

5. Depreciation Â? Depreciation may be taken on passenger cars, equipment used for entertainment or recreational purposes (i.e., photographic equipment, cell phones and computers), as long as these items are used solely for the business.

6. Professional Fees – You may deduct professional fees, such as those paid to a lawyer or accountant.

7. Meals and Entertainment – You may deduct 50 percent of meal and entertainment expenses associated with the conduct of your business.

Remember to keep on file the records and documentation necessary to substantiate all of your deductions.

###

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Usually, a car acquisition involves an enormous amount, and that is the reason why car loans are a well-liked alternative nowadays, plus one choice obtainable is the Novated Lease.

It is a three-way contract among an employer, the member of staff and the finance firm. Novated Lease makes car acquirement really easy.

Typical in Australia, in particular, it is an auto acquirement plan where an employee through the employer is able to buy a car. The employer takes care of monthly payments that are taken from employee’s wages, prior to tax deductions. This agreement is also recognized as salary deduction/packaging. When employment comes to an end, the car is left with employee and he presumes the financial accountability. The contract might also be reassigned to a new employer.

]]>

This sort of car lease has turn out to be increasingly admired in Australia in current years, since it is favorable for both employee as well as the employer. It presents enhanced flexibility, by means of the selection of the vehicle. Novated Lease basically offers a boost also, in employee’s earnings with negligible expenditure to the company. Financing of the car is compensated with pre-tax wages, implying considerable income tax savings, in favor of the employee. Employers do not need to assume the hazards and safeguarding operating expenses, time and expenditure linked with running and disposal of automobiles when operating a fleet of business vehicles.

Wisely, while going for a this lease agreement one should do their exploration on what vehicle they ardently desire, then exercise all the details on the Novated Lease Calculator and search out the details of the new vs. used vehicles and then form a decision. The calculator is friendly to make use of and processes exact and comprehensive information of the pros/cons for getting hold of a vehicle through salary packaging plan. There are approximately no cons related to this deal for the employer or employee. The employer gets to put in value to his employees recruitment. The employee is able to drive his dream car weather it, be an inexpensive vehicle or else a 4X4 and above all acquire tax benefits, too. What more could one wish for, from a three party business deal that is coming from your company to assist you.