Philippine Outsourcing

Tuesday, May 25, 2010

Philippines Outsourcing - ICT

President Obama has signed legislation that provides employers with tax incentives to hire unemployed workers.

Friday, April 16, 2010

President Obama has signed legislation that provides employers with tax incentives to hire unemployed workers.

The Hiring Incentives to Restore Employment, or HIRE, Act, was approved by the Senate by a 68-29 bipartisan vote on Wednesday. It is the first of a series of bills that the administration and Congress plan to introduce to reduce the unemployment rate.

“While this jobs bill is absolutely necessary, it is by no means enough,” Obama said in a Rose Garden signing ceremony Thursday. “There is a lot more we need to do to spur hiring in the private sector and bring about full economic recovery — from helping credit-worthy small businesses get the loans they need to expand, to offering incentives to make homes and businesses more energy-efficient, to investing in infrastructure so we can put Americans to work doing the work America needs done.”

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The centerpiece of the HIRE Act is a new payroll tax exemption to provide employers with incentives to hire and retain new employees. The bill provides businesses, including small businesses, with an exemption from Social Security payroll taxes for every worker hired in 2010 who has been unemployed for at least 60 days. The maximum value of this incentive is $6,621, which equals 6.2 percent of wages paid in 2010, up to the FICA wage cap of $106,800. The longer that a business has a new qualified worker on its payroll, the greater the tax benefit.

There is also an additional $1,000 income tax credit for every new employee retained for 52 weeks. For small businesses, the bill extends Recovery Act provisions that double the amount small businesses can immediately write off their taxes for capital investments and purchases of new equipment made in 2010 from $125,000 to $250,000.

“These tax breaks offer a much-needed boost to employers willing to expand their payrolls, and businesses and nonprofits should keep these benefits in mind as they plan for the year ahead,” said IRS Commissioner Doug Shulman in a statement.

The bill also expands the Build America Bonds direct payment option to include the issuers of qualified school construction bonds, qualified zone academy bonds, clean renewable energy bonds and qualified energy conservation bonds.

In addition, the bill extends funding for surface transportation programs through Dec. 31, 2010, to help states and localities invest in infrastructure. It includes language continuing the application and enforcement of the minority-owned business enterprise-contracting requirements for surface transportation projects.

The bill also transfers approximately $20 billion from the General Treasury and to the Highway Trust Fund, as the HTF is estimated to run short of funds in June. This transfer will reimburse the HTF for interest it should have collected in the past and will allow the federal government to support existing federal highway and transit programs through the end of this year at the levels authorized for fiscal year 2009.

To pay for the $17.6 billion cost of the bill, revenue-raising offsets provide the Treasury Department with new tools to find and prosecute U.S. individuals who hide assets overseas from the Internal Revenue Service. The bill would require new reporting by foreign financial institutions to give the IRS more data to detect fraud and tax evasion. The bill also delays for three years (through 2020) a tax break enacted in 2004 that would let U.S. multinational companies that have shipped jobs overseas reduce their U.S. taxes by deducting more of their worldwide interest income against their U.S. income. The worldwide allocation of interest provision has never gone into effect, and no company currently utilizes this provision.

To qualify for the hiring tax credit, the new law requires that the employer get a statement from each eligible new hire certifying that he or she was unemployed during the 60 days before beginning work or, alternatively, worked fewer than a total of 40 hours for someone else during the 60-day period. The IRS is currently developing a form employees can use to make the required statement.

Businesses, agricultural employers, tax-exempt organizations and public colleges and universities all qualify to claim the payroll tax benefit for eligible newly-hired employees. Household employers cannot claim this new tax benefit.

Employers claim the payroll tax benefit on the federal employment tax return they file, usually quarterly, with the IRS. Eligible employers will be able to claim the new tax incentive on their revised employment tax form for the second quarter of 2010. Revised forms and further details on these two new tax provisions will be posted on IRS.gov during the next few weeks.

The Home Depot hopes to join Costco at Reynolds Ranch

Saturday, February 6, 2010

The Home Depot hopes to join Costco at Reynolds Ranch

Thursday, December 10, 2009

 
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Finding Bank Owned Properties

Friday, October 30, 2009

Finding bank owned properties is much easier than most people think. Just Google REO (and the name of the bank). Most larger banks have the homes that they took over right on their website. These homes are usually priced anywhere from 10-30% of the current market value. Banks are looking to unload these properties and are willing to accept offers. These properties are reclaimed by a bank after an unsuccessful auction. So if you are looking to purchase these homes, you need to do some research. These homes may be in need of major repair. It is a wise investment to have a licensed Home Inspector look at the house. They usually provide a detailed report on the condition of the home. Lenders are not held to the same laws that sellers are. Lenders did not live in the home. If you don't want to look through the banks website, There are services that you can subscribe to. These companies usually charge $49 per month for foreclosure listings. They break it down in simple English. They sometimes provide a picture of the home. There is currently,a record amount of foreclosure listing. Investors with cash and good credit are reaping the rewards. For more info on geting financing or a Rehab loan contact Weapprove@gmail.com

When does Hard Money make sense?

Tuesday, October 6, 2009

Hard money is used when companies can't get funding through conventional sources. Rates usually start at 9% and can go as high as 30%. Limited documentation is required. The loan decision is based on the asset and the companies ability to pay back the loan. Hard money loans close within 10 days. We recommend that our clients evaluate what they are going to do with the money. It only makes sense if they can make a profit on the Hard Money. Here is our loan process. Our Loan Process 1. Submit Business Plan / Executive Summary 2. Pre-qualification determination process - project is reviewed and evaluated resulting in: the project being accepted proposed revisions being issued for the project the project being declined 3. Lender / Investor conceptual interest is obtained along with projected terms and the proposal is issued 4. Due-Diligence document checklist of typically requested data is prepared and sent to client 5. Analysis of all documents, preparation and packaging of the data for submission to designated lender/investor; formal due-diligence commences 6. Term Sheet/Conditional Commitment and/or Firm Commitment issued 7. After Term Sheet/Conditional Commitment and/or Firm Commitment are accepted, a site visit and market analysis will commence 8. Closing | Capitalization | Funding

Our Loan Process

Monday, September 28, 2009

Our Loan Process 1. Submit Business Plan / Executive Summary 2. Pre-qualification determination process - project is reviewed and evaluated resulting in: the project being accepted proposed revisions being issued for the project the project being declined 3. Lender / Investor conceptual interest is obtained along with projected terms and the proposal is issued 4. Due-Diligence document checklist of typically requested data is prepared and sent to client 5. Analysis of all documents, preparation and packaging of the data for submission to designated lender/investor; formal due-diligence commences 6. Term Sheet/Conditional Commitment and/or Firm Commitment issued 7. After Term Sheet/Conditional Commitment and/or Firm Commitment are accepted, a site visit and market analysis will commence 8. Closing | Capitalization | Funding

Borrow money on your Stock or Mutual fund holdings

Friday, September 25, 2009

The Time Line and process Here is the time-line and a quick overview of the steps for the completion of the transaction. Submit a Request for Quote. Once we receive your request a Term Sheet is issued. Usually within 24 hours The borrower will be asked to complete a simple 2 page application form. Neither income or credit is not asked. It is simply who they are and where do they want the funds wired to. Conference called is placed between the borrower and Us to answer any questions. Loan Agreement is sent to the borrower to sign. Lender tracks the closing price of the shares for 3 days to obtain an average price. The loan is disbursed based upon the loan-to-value previously agreed upon. Borrower makes Interest Only payments quarterly. Any dividends from the securities is credited to the loan payment and any excess is returned to the borrower in the form of a check. Note: Dividend payments made on behalf of the borrower towards the loan are not taxable. At the end of the loan term the loan is paid off and the same amount of shares are returned to the borrower. The time frame from start to finish may be as little as 5-7 days. Contact Richard for more info: 516 308 2963 WeApprove@gmail.com

What is an SBA (7) a Loan and who qualifies

Sunday, September 13, 2009

Product Type: Owner-Occupied SBA 7a Property Type: Community lending program to improve the locality for almost any business in the U.S. Loan Amount (min/max): $250,000 to $2MM LTV (max): 90% Amortization / Term: 20/20 Minimum FICO: 650 Minimum DSCR: 1.10x Non-Eligible: Ground Lease, Gas Stations, Churches Cash-out: N/A Collateral: Real Property

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