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2019

Finance

How to register GST online

In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration.

For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it will be an offence under GST and heavy penalties will apply. GST registration usually takes between 2-6 working days. You can apply for GST registration Online to complete the GST registration procedure.

So here in this article, we will understand how to register for GST online.

GST registration Online procedure

  • First, individuals must visit the GST portal (https://www.gst.gov.in/).
  • Next, the individual must click on the ‘Register Now’ link which can be found under the ‘Taxpayers’ tab.
  • Next, the individual must select ‘New Registration’.
  • On the same page, the individual must fill the below-mentioned details:
    • Under the ‘I am a’ drop-down menu, select ‘Taxpayer’.
    • Select the respective state and district from the drop-down menu.
    • Enter the name of the business.
    • Enter the PAN of the business.
    • Enter the email ID and mobile number in the respective boxes. The entered email ID and mobile number must be active as OTPs will be sent to them.
    • Enter the image that is shown on the screen in the respective box and click on ‘Proceed’.
  • On the next page, enter the OTP that was sent to the email ID and mobile number in the respective boxes.
  • Once the details have been entered, click on ‘Proceed’.
  • Individuals will be shown the Temporary Reference Number (TRN) on the screen. It is vital that they make a note of the TRN.
  • Next, individuals must visit the GST portal again and click on ‘Register’ which is present under the ‘Taxpayers’ menu.
  • Next, select ‘Temporary Reference Number (TRN)’.
  • Next, individuals must enter the TRN and the captcha details.
  • Once the details have been entered, click on ‘Proceed’.
  • Individuals will receive an OTP on their email ID and registered mobile number. Enter the OTP on the next page and click on ‘Proceed’.
  • The status of your application will be available on the next page. On the right side, there will be an Edit icon, click on it.
  • There will be 10 sections on the next page. All the relevant details must be filled, and the necessary documents must be submitted. The list of documents that must be uploaded are mentioned below:
    • Photographs
    • Address proof where the business is located.
    • Bank details such as account number, bank name, bank branch, and IFSC code.
    • Authorisation form
    • The constitution of the taxpayer.
  • Once all the above-mentioned details have been entered, individuals must visit the ‘Verification’ page. Once individuals check the declaration, they must submit the application by using one of the below mentioned methods:
    • By using an Electronic Verification Code (EVC). The code will be sent to the registered mobile number of the applicant.
    • By using the e-Sign method. An OTP will be sent to the mobile number that has been linked with the Aadhaar card.
    • In case companies are registering, the application must be submitted by using the Digital Signature Certificate (DSC).
  • Once the above step is completed, a success message will be shown on the screen. The Application Reference Number (ARN) will be sent to the registered mobile number and email ID.
  • Individuals can check the status of the ARN on the GST portal.

Here in this article, we have understood the process for GST registration, it will surely be useful for you to grow your business.

The next important step in managing your business is to open current account online. Once this is done you are all set to manage and maintain your business smoothly and successfully.

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Loans

Why Mortgage Lenders Make Customers Jump through Hoops

Head down to your local bank to apply for a mortgage and you’ll find yourself jumping through one hoop after another just to get approval. The long, drawn out application process could result in you waiting weeks to actually get your mortgage. By contrast, a real estate investor or small business owner could secure a hard money loan in a matter of days. So what’s the difference?

Much of the difference boils down to who assumes the majority of risk on a loan. A bank making a 30-year mortgage is doing so with the understanding that it can sell said mortgage to Fannie Mae or Freddie Mac, thereby reducing its risk substantially. A hard money lender, on the other hand, assumes almost all the risk of lending.

Of course, such a simple explanation doesn’t really help you understand what’s going on here. So let’s look at it in more detail. Suffice it to say that the 30-year bank mortgage is not all it’s cracked up to be.

Strict Lending Requirements

Banks obviously have their own lending requirements in place. They have to if they want to mitigate as much risk as possible. But consider this: risk increases the longer a mortgage lasts. So why would banks offer 30-year mortgages? For that answer, we go back to the end of World War II and the post-war housing boom.

The 30-year mortgage was essentially a government creation intended to get more people to buy homes. The thinking at the time was that a 30-year mortgage made home ownership more affordable by giving people more time to pay the bill. Then along came Fannie and Freddie. Through these two programs, the government essentially encouraged banks to grant mortgages to people who really couldn’t afford them by ensuring such mortgages against loss.

In exchange for the insurance, lenders were required to adopt new lending practices they otherwise would not have utilized. Those practices were made even more strict following the 2008 housing crash. Today’s borrowers have to jump through a lot more hoops because government regulators want it that way. Ironically, Freddie and Fannie continue to encourage lenders to offer mortgages to people who really cannot afford them.

Hard Money is the Polar Opposite

You would never use a hard money loan to buy a home that would act as your primary residence. Still, understanding how hard money loans work offers a stark contrast to the way traditional banks do business. When an investor or business owner applies for hard money, there are no hoops at all to jump through.

Remember, the government takes on most of the risk of a typical 30-year mortgage. The risk in hard money rests solely on the lender. With that in mind, hard money lenders focus primarily on how they can recoup their money in the event of borrower default. There is only one way to do that: repossess and sell the collateral offered as backing for the loan.

According to Salt Lake City’s Actium Partners, property is the most commonly used form of collateral for hard money lending. Lenders care mainly about the value of the property and its current marketability. They are less interested in a borrower’s personal income, credit history, employment, etc. As long as the collateral is solid and valuable enough, risk is minimized.

You jump through hoops to get a 30-year mortgage because, like everything else controlled by the government, bureaucracy requires it. There are no hoops in hard money lending because it is a completely private enterprise between two parties. And now you know.

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Business

Tips for Selecting the Right Audit Company in Malaysia

Auditing is one of those activities that you do not look forward to, but you have to do it anyway. It is a vital part of your business operations, and you afford to make any mistakes. The good news is that you do not necessarily have to deal with the tedious task. You can simply hire an audit company in Malaysia and let experts handle the job for you.

More and more business owners now realize the benefits of outsourcing auditing services, which has led to an increase in demand for these services. This has, in return, resulted in a rise in companies claiming to offer the best auditing. While some have your best interest at heart, some are only there to scam you. Selecting an audit firm that you can fully trust and rely on is the major challenge. To make it easier for you, here are the tips to follow during your search.

Consider their expertise

Whether you are looking for an auditing company or simply in need of a company secretary in Malaysia, you should never overlook the power of expertise. This is a sensitive area, and you cannot afford to make any mistakes. You need someone who has been in the industry for a long time and has the necessary skills and expertise to offer the best quality audit services. A team that has dealt with business finances before and precisely a business in a similar sector as you will provide you with the best quality services without any mistakes, thus reducing any chances of losses.

Check their qualifications

They should have the papers on hand to show that they have undergone the necessary training and are a competent audit company. Do not forget to check if the company qualifies with the respective requirements and that they are fully registered and certified to offer the services.

The cost of services

One of the main reasons for hiring the audit firm is to help you save money. You do not have to break the bank to pay for auditing services. Remember that you have other expenses that you need to fulfill, and you need to consider that when setting a budget for accounting services. Compare the cost of auditing as per different companies to determine the average rate and then choose the most affordable. Note that the services should neither be too low nor too high. Cheap could be a sign of poor services, and expensive does not necessarily mean that you will get high-quality services.

With these tips, you will undoubtedly find an audit company in Malaysia that you can fully trust and rely on. All the best!

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Loans

5 Common Reasons Why You Could be Refused a Personal Loan

Have you applied for a personal loan only to be refused by the lender? Although it’s not a nice feeling, you’re certainly not the only one who has had a loan application turned down. There are several common reasons why you might be declined a personal loan, and although some of them may be indicative of an unhealthy financial situation, others may simply be due to an oversight on your behalf or your particular circumstances.

If you’ve been declined a personal loan, make sure you know the reason why, as every personal loan application you make counts as an enquiry on your credit report. Make too many unsuccessful enquiries and that will turn into a red flag.

So, what are some of the common reasons why you might be declined a personal loan?

  1. You’re self-employed

Being self-employed can bring numerous benefits, but it can also have some unexpected drawbacks. Many lenders like to see that you are in full-time employment or have a secure contract with plenty of time left to run, as that provides added reassurance that you’ll be able to repay the loan.

For that reason, if you are self-employed and have a fluctuating level of income, some lenders may think twice about offering you a personal loan. However, not every lender will be so reluctant. For example, the short-term lender Wonga states it will not explicitly decline a borrower just because they’re self-employed, although you will have to provide evidence that you’re able to make the minimum monthly repayments.

  1. You have a bad credit score

Even borrowers with high salaries and stable jobs can be rejected for a personal loan. What many people don’t realise is that even with a good level of income, lenders will be put off by an adverse credit record that shows unreliable behaviour as a borrower. Maxed out credit cards and loan defaults will all contribute to a bad credit score. Thankfully, there are steps you can take to repair your credit score.

  1. Your application is inconsistent or incomplete

You must provide all the information you are asked for on your personal loan application and ensure that all your details are accurate and up to date. If you don’t double-check important information or provide comprehensive responses to the lenders’ questions, there’s a far greater chance that your loan application will be rejected.

  1. You don’t meet the eligibility requirements

Some lenders are quite specific about who they lend to, and if you don’t meet their eligibility criteria, the likelihood is you’ll be declined. Make sure you carefully read the lender’s criteria before you apply for a loan to save you time and reduce the likelihood of a refusal. The good news is that there are plenty of other lenders out there that will accept your loan application even if you have bad credit. You just have to find them.

  1. The loan amount is too high

On the loan application form, you’ll be asked to enter your desired loan amount. The temptation might be to borrow a bit more than is absolutely necessary, but if you enter an amount the lender believes you might struggle to repay, you’re likely to be declined. Instead, only borrow the money you need and use a loan affordability calculator to check it’s an amount you can comfortably afford to repay based on your current income.

Have you encountered any other reasons for a loan application refusal? Please share your experiences with our readers in the comments below.

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Credit Cards

Gaining the best support in credit card

As far as getting to compare credit cards Singapore is concerned, Maybank comes across as the peak one of the lot as it is known to offer for best credit cards that scores in terms of dependability and services.  If you are someone who likes to exchange your points for air miles, shopping as well as dining vouchers, discounts and coupons for gifts then you can very well go for the reward points accessible by Maybank.

It also provides one the capacity to earn points for everything spent on the card, with most banks presenting accelerated points when you spend at specific merchants or that of assured categories.

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News

Auto accidents, sleep problems and the recovery process in Lake Charles

Auto accidents are one of the worst types of accidents as the injury because of an auto accident can be very severe. The proliferation of the auto accident is becoming a serious issue in most of the countries. Even after the implementation of strict traffic rules and the use of the latest technologies, the burgeoning auto accident cases don’t seem to slow down.

An auto accident can lead to different types of injuries, but one of the most common problems that most of the victims of an auto accident suffer from is head injury and spinal cord injury. You might be dumbfounded to know that many research and studies have proved that a sleeping problem plays a significant role in auto accident cases. Even the recovery process can be very tough if the auto accident is very severe. All these results into financial loss and this is why most of the people hire Injury attorney Lake Charles to get compensation for the damages.

How sleep problems are leading to auto accident cases

On a global scale, thousands of auto accidents occur just because of the sleeping problem, tiredness or fatigue. Earlier, sleeping problems or tiredness, resulting in a road accident was infrequent, but the number has been increasing during the past three to four years. Because of this, various public education seminars and awareness programs are being organized to make people aware of how lack of sleep can result in a fatal accident.

Fatigue is a result of a sleep disorder, but one can have a higher fatigue level because of excessive workload or too much stress. A survey conducted in USA that shows drowsy driving claims 765 live and 91,000 automobile accidents involve drowsy driving alone in 2017.

All these situations make the sleeping problem a significant contributor to road accidents. But it doesn’t matter whether the road accident has occurred because of the sleeping problem or any other health issue of the driver, if you are not responsible for the accident then you will surely get compensation for it. But instead of filing the lawsuit on your own, you should hire an injury attorney Lake Charles and build a strong case. By working with an attorney, the chances of getting the right compensation will increase.

The recovery process after an auto accident

The recovery process after an auto accident depends on the type of injury you have suffered and its severity. On average, it takes around 2–3 weeks to recover from a common auto accident completely. During the recovery process, you will be confined to your bed, and it can result in loss of wages. That is the reason, loss of wages is also a part of compensation.

If you have suffered a mild concussion, then all the symptoms will diminish within 2 to 3 weeks. But if you have suffered a severe head injury, then it will take you around 8 to 9 weeks to completely recover. The whiplash of a facial injury can take several weeks to heal while even a normal spinal injury will take around 6 to 16 weeks to heal.

If you have been a victim of an auto accident because of sleeping disorder or fatigue of another driver, then you become eligible to get compensation. But it would be best if you also had a proper sleep before going on a drive to avoid any accidents. The recovery period can vary depending on the type of injury. However, you can get compensation for each and every kind of financial loss if you are responsible for the accident.

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BusinessNews

How to Turn Your Electronics Design into a Sellable Product

As technology continues to permeate every aspect of daily life, more and more people are finding new and exciting ways to put it to use. From everyday people utilizing tech at home and work to entrepreneurs making these advancements effective tools in building businesses, everybody is benefiting in one or more ways.

A select segment of people who have always had a knack for meddling with electronics as a hobby are now finding new and inventive ways to earn income via their knowledge. With a basic understanding of electronics, a bit of skill in using the internet and a knack for business, anybody can transform their electronics designs and schematics into tangible, sellable products.

Let’s examine some of the ways that tinkerers and designers can take these designs and convert them into cold, hard cash.

Sell the Digital Design Itself

Electronics designers and DIY enthusiasts the world over love to create their own custom electronics. There are a variety of skillsets involved in producing a product from start to finish: some may have all of the required hardware skills but lack the skill or desire to design a PCB circuit schematic from scratch.

Many people skilled at designing a custom PCB circuit or comparable electronic blueprint use a variety of freelance and/or community-based platforms to sell their electronics designs to the masses. For those seeking to manufacture various electronics from scratch, these designs and schematics can save DIY enthusiasts tons of time – something many are willing to pay for handsomely. Everything from PCB designs to 3D printing/CNC schematics are in demand by the masses.

Sell Custom Electronics Kits

Electronics designers who have a yearning to create custom components may find that such creativity can be even more rewarding when eliminating yet another step of the process for consumers. Websites such as Tindie are catered to buyers and sellers who are in the market for custom electronics components and kits, making it easy for designers to find interested audiences.

Some kits may include all of the components necessary to complete a specific product, while others may be a broad assortment of parts that allow for ample customization. Whether it’s a kit that includes a PCB circuit and various resistors and capacitors, or a package that is designed for one specific electronics construction project, you can earn more money per design sold by simplifying the process even more and including the required hardware components.

Sell the Completed Product

Designers who want to maximize the profitability and salability of their designs can also consider procuring solutions to manufacture functioning products using their designs. Websites such as SparkFun are constantly seeking new electronics components to purchase from designers who are able to manufacture their own products. Likewise, maker platforms like Ponoko allow designers to upload their schematics, have the custom products created for them, and then ship them to the designer for final assembly.

By being able to control each aspect of the supply chain and sell finished products based on your design, the ability to earn additional profit is dramatically increased. However, this method isn’t necessarily for everybody: some would prefer earning less per transaction and having fewer worries to juggle, making the other two options on this list appealing as well.

Ultimately, electronics designers have a variety of options for converting their custom designs into sellable products. Whether you choose to pursue a digital-only strategy in terms of selling the design, an unassembled kit/ product solution, a fully-constructed final product option, or all of the above, there are services and platforms that can make each of these strategies financially viable for designers of all backgrounds.

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Finance

Why You Need to Hire a Professional AirBnB Management Company

AirBnB has changed the way that people make money from their properties. Now, instead of giving your property on rent for long periods of time, you can simply put it up on AirBnB and generate a passive income from it with minimal hassle. People can stay in your house for a limited period of time through the application and they will pay you regularly. Many people who own multiple properties now generate a significant amount of money through them simply through this method.

However, if you own numerous properties and are interested in putting them up on AirBnB, the first thing that you need to do is to hire an AirBnB management company. A lot of people think of this as an additional expense but it’s actually going to yield dividends in the long run. There are a number of reasons why you should consider hiring a property management company to handle your AirBnB properties. Here are just a few important reasons why you need professional assistance.

Damage to Your Property

One of the reasons why you need to hire a management company is because they are going to make sure that damage to your property is minimised. When people first rent a property through the application, a manager will explain to them the rules of living and make sure that they abide by them. There have been numerous cases where guests who used AirBnB to stay at different properties ended up causing thousands of dollars in damages. The last thing that you would want when you go back to inspect the property after the guests leave is to find it in tatters. Your property management company can help you avoid such problems.

Increasing Your Reputation

Another major reason why you need to hire a professional company is because they will help you increase your reputation on AirBnB, which will ultimately result in better bookings and more earnings for you. They are going to take enticing pictures of the property and regularly update them. They are also going to recommend changes that you should make and investments that you should consider that can help yield a higher return on your investment.

More importantly, the property management company is going to engage with the clients and make sure that they keep on top of the reviews. If a guest had a bad experience and leaves a negative review, it could affect your reputation considerably so you need someone who can engage with the client and clear the air. These are just some of the major reasons why you should consider hiring a property management company to handle your AirBnB guests.

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Accounting

How to Find a Reputable Accountant in Weston, Fl

Many times we come across business professionals who are all talk and no walk; this is predominantly because many average business professionals are just that- average. Why is it that people we commonly do business with just don’t do their best in their field of work? This is largely to blame on the systemized process of business in the United States. We go to school, get a job, and usually continue in that line of work until we croak!

After college, most people stick to the same profession and company until they decide to retire. Who’s to say all these people even like what they’re doing? Well, chances are most of them don’t. This is shown through the progress people make in large companies as compared to those out on their own who decide to start their own business. After digging through tons of research and experiments, we have found that you will get the most for your money when working with small businesses!

This news is very exciting- for one reason because it’s great to support small business owners who are making a living for their family, and another reason because they usually offer their services/products for cheaper. Dealing with big-named brands will more often than not also leave you with a big price tag!

This can all be applied to finding a reputable and trustworthy accountant in the Weston, Florida area! There are many independent firms in South Florida and the weight of them reside in Miami-Dade and Broward County.

What credentials to look for in an accountant:

Is the accountant you are currently scouting out college-trained? Are they a certified CPA or CMA? Having some sort of certification, whether it be a CPA, CMA, or something else will tell you what exactly they specialize in; when hiring someone to do an extremely important task, like handle your money, you want to make sure they are specialized in exactly what you need them to perform. So if you are trying to find someone to do your personal taxes, a CPA might be a perfect fit. If you are looking for someone to do your personal taxes AND manage your financial planning analyses, then a CMA might just be an even better fit.

Some people also have tons of issues regarding IRS debt collection or IRS problems in general; there are many CPAs who don’t offer these IRS resolution services, so it’s important to make sure they will be able to solve your specific issues seamlessly with their experience from the past.

Another way to make sure you can trust this accountant is by looking at what their past and current clients have to say about their services. You can go on multiple different platforms, like Yelp, Google & Facebook, to check out what their reviews might say. Not to mention that with small business owners, it is less likely that they will be getting fake reviews as compared to the bigger companies with higher reputation management budgets.

So when hiring someone very important like your accountant, please go through these steps to make sure you are getting the best services within your budget! You should also check out their website to see what they specialize in and what they pride themselves on.

Source: https://ramonortegacpa.com

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Trading

Click trades Review

About the company

As the forex market is in a continuous change, traders around the world are looking for brokerage companies that come with new and innovative solutions for trading. Clicktrades is one of the brokers that come with a unique approach to trading and that is why we want to discuss their offer.

Owened by KW Investments Limited, the company offers CFD trading services for ETFs, forex, bonds, indices, shares, cryptocurrencies and commodities. We’ll focus mainly on forex trading in our material.

Forex Trading

Forex traders will have plenty of currency pairs to trade. The Clicktrades forex trading offer has more than 50 pairs, divided by the company in four different categories: primary, majors, minors, and exotic. Trading conditions for primary and major pairs are mostly in line with what other brokerage companies are offering. Spreads are decent and leverage up to 200:1.

Trading Tools

One of the most important aspects that differentiate Clicktrades from the competition is the proprietary web-based platform. The company wanted to rely on a unique software solution and this may be a positive or a negative, depending on what each trader desires. In terms of the platform functionalities, it offers most of the features available on MT4 or MT5. Multiple charts types and time frames, dozens of indicators, drawing tools, and others.

Alt-text: Clicktrades trading platform

In addition to that, it has a “Trending Now” section with most of the popular trading instruments, and an “Alerts” section which enables traders to add price alerts. This will save time since you won’t have to watch the market constantly and you will get notified when the market researches a particular level.

Traders who want to choose the Clicktrades forex trading offer can choose between Essential, Original, and Signature accounts. Not a very diversified offer and the $1,000 deposit for the basic account (Essential) might be viewed as high by some traders. For Original and Signature account holders, Clicktrades offers open access to research, special trading conditions, and one of the most important tools – the Trading Central.

Developed by an award-winning company specialized in market analytics and research, the Trading Central feature is built into the platform and is aimed to optimize your trading sessions. It is developed by a brand that has supported investment decisions since 1999.

Summary

Clicktrades is a company that comes with a different forex trading offer and depending on what each trader expects from his broker, this could be a reliable option to choose. Trading conditions are mostly in line with what other brokers offer, with a few different tools and functionalities that can make a difference.

RISK WARNING: Trading Forex and CFDs is highly speculative, involves significant risk of loss and is not suitable for all investors. 

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