New Credit Card Rules
By | February 22, 2010
The Federal Reserve’s new rules for credit card companies mean new credit card protections for you. Here are some key changes you should expect from your credit card company beginning on February 22, 2010.
What your credit card company has to tell you
- When they plan to increase your rate or other fees. Your credit card company must send you a notice 45 days before they can
- increase your interest rate;
- change certain fees (such as annual fees, cash advance fees, and late fees) that apply to your account; or
- make other significant changes to the terms of your card.
If your credit card company is going to make changes to the terms of your card, it must give you the option to cancel the card before certain fee increases take effect. If you take that option, however, your credit card company may close your account and increase your monthly payment, subject to certain limitations.
For example, they can require you to pay the balance off in five years, or they can double the percentage of your balance used to calculate your minimum payment (which will result in faster repayment than under the terms of your account).
The company does not have to send you a 45-day advance notice if
- you have a variable interest rate tied to an index; if the index goes up, the company does not have to provide notice before your rate goes up;
- your introductory rate expires and reverts to the previously disclosed “go-to” rate;
- your rate increases because you are in a workout agreement and you haven’t made your payments as agreed.
- How long it will take to pay off your balance. Your monthly credit card bill will include information on how long it will take you to pay off your balance if you only make minimum payments. It will also tell you how much you would need to pay each month in order to pay off your balance in three years.
New rules regarding rates, fees, and limits
- No interest rate increases for the first year. Your credit card company cannot increase your rate for the first 12 months after you open an account. There are some exceptions:
- If your card has a variable interest rate tied to an index; your rate can go up whenever the index goes up.
- If there is an introductory rate, it must be in place for at least 6 months; after that your rate can revert to the “go-to” rate the company disclosed when you got the card.
- If you are more than 60 days late in paying your bill, your rate can go up.
- If you are in a workout agreement and you don’t make your payments as agreed, your rate can go up.
- Increased rates apply only to new charges. If your credit card company does raise your interest rate after the first year, the new rate will apply only to new charges you make. If you have a balance, your old interest rate will apply to that balance.
- Restrictions on over-the-limit transactions. You must tell your credit card company that you want it to allow transactions that will take you over your credit limit. Otherwise, if a transaction would take you over your limit, it may be turned down. If you do not opt-in to over-the-limit transactions and your credit card company allows one to go through, it cannot charge you an over-the-limit fee.
- If you opt-in to allowing transactions that take you over your credit limit, your credit card company can impose only one fee per billing cycle. You can revoke your opt-in at any time.
- Caps on high-fee cards. If your credit card company requires you to pay fees (such as an annual fee or application fee), those fees cannot total more than 25% of the initial credit limit. For example, if your initial credit limit is $500, the fees for the first year cannot be more than $125. This limit does not apply to penalty fees, such as penalties for late payments.
- Protections for underage consumers. If you are under 21, you will need to show that you are able to make payments, or you will need a cosigner, in order to open a credit card account.
- If you are under age 21 and have a card with a cosigner and want an increase in the credit limit, your cosigner must agree in writing to the increase.
Changes to billing and payments
- Standard payment dates and times. Your credit card company must mail or deliver your credit card bill at least 21 days before your payment is due. In addition
- Your due date should be the same date each month (for example, your payment is always due on the 15th or always due on the last day of the month).
- The payment cut-off time cannot be earlier than 5 p.m. on the due date.
- If your payment due date is on a weekend or holiday (when the company does not process payments), you will have until the following business day to pay. (For example, if the due date is Sunday the 15th, your payment will be on time if it is received by Monday the 16th before 5 p.m.).
- Payments directed to highest interest balances first. If you make more than the minimum payment on your credit card bill, your credit card company must apply the excess amount to the balance with the highest interest rate. There is an exception:
- If you made a purchase under a deferred interest plan (for example, “no interest if paid in full by March, 2012″), the credit card company may let you choose to apply extra amounts to the deferred interest balance before other balances. Otherwise, for two billing cycles prior to the end of the deferred interest period, the credit card company must apply your entire payment to the deferred interest-rate balance first.
- No two-cycle (double-cycle) billing. Credit card companies can only impose interest charges on balances in the current billing cycle.
- Source: Federal Reserve
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How to Shop for T1 Cheap Phone Service and Internet Access
By | February 19, 2010
Every business needs to shop for T1 phone lines for commercial phone service and internet access. T-1 digital communication lines provided by telecom companies are needed because they offer a bandwidth of 1.544 megabits per second. This transmits two way digital communication within private business networks and two way digital communications between private business networks and internet access service providers. T-1 digital communication lines are indispensable for multiple commercial phone lines and business computer networks. In order to maximize profits, though, any business seeks cheap phone service and internet access. But how do you shop for T1 cheap phone service and internet access that is not substandard and will not lose dial tone?
When checking out a telecom company that you are considering for T-1 cheap phone service and internet access, first find out if it has all the required state and federal licenses. You should also find out if the particular telecom company is recognized by the Building Industry Consulting Service International, Inc. (BICSI) as a Registered Communications Distribution Designer (RCDD). Telecommunications consultants in the Information Transport Systems (ITS) industry look to BICSI as their recognized industry association. An RCDD telecom company is expected to have complied with the strictest standards of professional and ethical behavior as stated in the BICSI Code of Ethics and the BICSI RCDD Standards of Conduct. Do not even consider a telecom company with no state and federal licenses and is not BICSI certified, even if the give cheap phone services.
Aside from being fully licensed and certified, the telecom company you choose should have expertise in the installation, maintenance, repair and transfer of the best names in phone and voice mail systems and all their applications. Among such applications are Automatic Call Distribution (ACD) and Call Accounting. The telecom company you choose should be equally amenable to servicing phone and voice mail systems of small businesses and of call centers that have hundreds of phone extensions.
It will be to the advantage of your business if you choose a telecom company that is not only an expert in the design and implementation of Voice IP or VoIP solutions based on your specific requirements, but could also negotiate with many VoIP carriers to get you the lowest possible rates. Telecom companies that have established strong ties with the many VoIP carriers can swing this to your company’s benefit.
Your business will need VoIP technology to set up IP connections between physically separated offices. VoIP technology is likewise used to integrate the functions of your commercial phone lines and computers, to establish a central management of all your company’s phone calls even for various offices, and to integrate the many different call forwarding systems into your system.
In addition to VoIP technology, the telecom company you choose should have expertise in the installation and maintenance of computer Ethernet cabling and jacks, fiber optic cabling, structured cabling and phone cabling. Fiber optic cabling is needed in establishing connections between separate buildings, especially for distances that copper cabling cannot cover.
One of the best choices for telecom services in Florida would be Tribute Telecom, LLC. For over 20 years, it has been offering excellent service to its Tampa, FL clients. Of course, Tribute Telecom, LLC is fully licensed and is certified to be RCDD under the BICSI. Its consultancy services enable its clients to save up to 50% in telecom expenses. It closely inspects its clients’ telecom bills for erroneous billing and successfully demands reimbursements from the carriers. It also negotiates for lower packages for its clients.
So how do you shop for T1 cheap phone service and internet access for your business? Check out all the points mentioned above and compare any telecom company in Florida with Tribute Telecom, LLC.
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Is France Really The Worst Country For Corporate Taxes?
By | February 18, 2010
Of all the EU countries, France has one of the highest corporate tax rates of 33.33%.
And this is not the only tax that companies have to fork out for – on top of corporate tax there is also the “Taxe Professionelle” (Professional Tax), the “Taxe Foncière” or “Taxe d’Habitation” (Housing Tax, payable if you are renting a place or own your place of business) and, last but not least, the Payroll Tax (national insurance, pension tax,…) which is more than 45%. And with France’s notoriously slow adminstrative procedures it seems the state always manages to stand in the way of entrepreneurs.
But is the situation that bad? How can such a difficult system produce one of the top seven economies in the world? Why is foreign investment still so strong in France? Clearly, the situation is not as bleak for companies as it first appears. On the contrary, if you are ‘in the know’ there are are lots of ways entrepreneurs can get the French system to work for them. So is this a good time to consider setting up a business in France and French company formation?
A new deal for companies considering French Incorporation
It’s now been more than 10 years since France decided to modernize its administrative system. French company formation, even if it has to follow strict rules, can now be done within a week. Registered numbers are usually given by Companies House the same day of the incorporation. The VAT number is given within a week after registration and the VAT number is valid from the stamp date.
All French procedures for tax declarations, payroll declarations and French incorporation is now centralized. This means that you can get your business up and running as soon as the French company formation process has been completed.
For 95% of businesses, French incorporation is very straight forward and speedy. And the administrative system – far from being a burden – is actually a blessing in disguise. The strict rules governing French businesses means companies will always be supported. Banks are also highly regulated and therefore can be trusted even in the worst economic climates.
Past governments have always tried to improve this system whilst keeping the regulations in place which is perhaps why La Defense is the biggest business centre in Europe and still attracts hundreds of foreign companies every year.
Taxes
Officially corporate tax is 33.33% but there are sweetners:
15 % rate
A company can have a 15% corporate tax rate on profit providing they comply with the following conditions:
- the company must be trading
- at least 75% of the capital must be owned by individuals
- share capital must be completely paid
- turnover must be less than 7.6 million €uros
- profit must be less than 38,120 €uros
No Tax
Depending on where you set up your company and what type of business you have, you may be liable to pay no tax at all. This system, created in the 1990’s to help fight unemployment in urban areas, is called “Zone Franche Urbaine” (Urban Free Zone). In these tax-free zones, companies that are trading have no corporate tax and in some case no professional tax and reduced payroll taxes for the first five years. There are more than 60 zones like this in France. Plus, depending on the business, some regions in France are also giving incentives to new start-up companies considering French company formation.
So no tax and lots of incentives – what a great deal!
Taxe Professionelle (1975-2010)
In 2010 the Professional Tax will be abolished. The French Parliament first voted to get rid of it in 2004 but it’s not until next year that the law actually comes into enforcement. It will cost the state 8 Billion €uros but will significantly reduce the burden of French companies.
A Bright Future For French Company Formation
Overall France is very strict on admin and is a highly regulated country but it’s not the worst one for investments or the worst one for taxes either. In lots of cases foreign entrepreneurs considering French incorporation, can reduce their taxes and set up a company in France, with far less hassle than was once thought. The
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Income Taxes facts Important Knowledge Base
By | February 17, 2010
As you search for income taxes facts related information or other information about free tax estimator or online income tax return, take your time to view the below article. It will provide you with a really refreshing insight into the income taxes facts information that you need. After going through it you will also be better informed about information in some way related to income taxes facts, such as never pay taxes again or even calculate income tax.
You’ve had one thousand of the finest, several eye-catching economy cards printed. Now, what do you do through them? Networking amid business cards is one of the most cost effective signals of marketing your business-and yourself.Don’t leave them sitting in the box, they do you no good there. Get them into the hands of your prospects! If you think of your business card as a mini-billboard for your company, you will realize that you wish people to see it in order for it to be effective. Here are a few ideas to get you started. Keep them in your pocket, purse, briefcase, and wallet, on your desk, and at the reception area of your office.Leave some in your car. Always experience them on hand so you can introduce yourself to new folks when the time is right.
Balance is the key. Choose a template with a smaller or less complex image when you have a lot of words to include on your card. When you can safely use a larger or more colorful image without reducing legibility, do that instead.By following these guidelines you will be well on your way to creating a business card that not only looks good, but fullfills it’s purpose of effectively advertising your company.Do you remember how proud you were the first time you saw your name in print?Most entrepreneurs feel that same flush of pride when they gaze on their new business cards. That small piece of paper represents years of planning and effort and hard work and dreams. The thrill of seeing “your name in print” on a business card is hard to beat.Unfortunately, other people couldn’t care less. Your business card, the one you’re so proud of, is just another advertisement… another piece of clutter to file.
You’ve had one thousand of the finest, several eye-catching Business cards printed. Now, what do you do through them? Networking amid business cards is one of the most cost effective signals of marketing your business-and yourself.Don’t leave them sitting in the box, they do you no good there. Get them into the hands of your prospects! If you think of your business card as a mini-billboard for your company, you will realize that you wish people to see it in order for it to be effective. Here are a few ideas to get you started. Keep them in your pocket, purse, briefcase, and wallet, on your desk, and at the reception area of your office.Leave some in your car. Always experience them on hand so you can introduce yourself to new folks when the time is right.
As detailed as this article is, don’t forget that you can find more information about income taxes facts or any such information from any of the search engines out there. Commit yourself to finding specific information therein about income taxes facts and you will.
A professionally designed logo adds distinction, eye appeal, and can effectively “make” or “break” an otherwise ho-hum business card. A good logo helps a customer both relate to your business and to build trust. Generic clipart may actually hurt your business. Prospects might wonder why you can’t afford quality artwork and may question if you’re in business for the long haul.Meaningless graphics (such as monogrammed initials) may add distinction to your card, but they don’t convey information or give prospects a reason to call you. Which would be more important to you — fluff or valuable information? With the advent of online business card design services that allow you to create business cards from brilliant full-color templates, some of the factors discussed above are certainly relevant. Adding color is probably the single most effective way to add appeal to your card, but you don’t want the text and the background to compete with each other. Learn more about how colors affect human emotions
Referral Pile: These are people you have purchased goods or services from that you might recommend to other people or use again. By referring others, you build good will both with the person you referred and the person whom you referred. At some later date you might sub-categorize them into types of service, or just keep them in alphabetical order. It’s important that it works for you.Current Customer Pile: These are active customers who are using your goods and services. They are part of your gold in these piles. You want to keep these cards front and center in your mind, reaching out to these people on a regular basis.
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Registering a company in the United Kingdom
By | February 15, 2010
The consistent economic and political prosperity of the United Kingdom makes it one of the most thriving business hubs in the world. The country boasts more than 2.60 million registered companies. The conditions for business in the United Kingdom are tremendously cooperative and uplifting. It is proven by the government’s initiative in aiding entrepreneurs register a company in UK simply and conveniently.
Register a Company in UK: Procedure
You can register a company in UK as any of the following company types:
- Private company – limited by shares
- Private company – limited by guarantee
- Private unlimited company
- Public limited company (PLC)
Entrepreneurs can manage the process of registration themselves; however, it is recommended that they seek professional aid. Moreover, if you decide to follow the electronic filing process (as opposed to the conventional manual process) you will have to hire a company formation agency, as specified by the Companies guest house cavan.
Choosing a company name - After choosing the type, the next step is to name the company. The name must be unique and must not bear any resemblance to any other existing company name. It is advisable that you select a name that expresses the nature and type of your company, while sounding impressive to the audience. A name creates strong impressions, and can positively or negatively affect a company’s reputation. Also, take care not to use words and phrases that are not allowed by the law of the land.
Other Formalities – Here are some other procedures to register a company in UK:
- Pay £20 to the Companies guest house cavan for standard service.
- Obtain the Memorandum of Association and the Articles of Association.
- Fill forms 10 (in case of conventional manual form filing) and 12.
- Submit a statement from the directors, details of the secretary and the address of the company.
Register a Company in UK: Procedure for Overseas Organization
Overseas businesses can also register a company in UK. These businesses have to submit documents if:
- They establish a physical presence in the UK
- Operate from specific locations in the country.
Partnerships and non-incorporated bodies cannot register as overseas organizations in the UK. To hire a professional agency that can guide you on the rules of company formation, visit www.companyformations247.co.uk. This company formation agency provides a host of related services, such as deciding company name, organization and structure. The agency is well-equipped to provide you attractive same-day company formation serv
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