When you are unable to save for retirement

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Cash Flow - Growth Money and Business Funding
The number one reason for business failure in the U.S. today is lack of working capital!

Businesses need money to grow. A business cannot survive just because it has a better product, an exclusive market or the best method of distribution. Funding in the form of working capital and cash flow is required for progress!

But where does a business go when the bank says no?

... Read personal finance article



Brokerage Fee
You want to open a brokerage account but you can not seem to have a good conviction about the brokerage fee and account minimums. Yet you are certain that you want to start with a brokerage-trade. So what should you do?

First of all account minimums are (ought to be) only small ones - as low as $500 for example. However, account minimums differ with the type of brokerage account. So m... Read personal finance article



When you are unable to save for retirement
Not saving for retirement is people's biggest money worry. All most as many people said that not meeting monthly expenses is their biggest worry. A poll of 1,157 people was conducted by the AnswerBank which found that only 10 per cent of people polled are worried about paying their mortgage off.

Not having enough money to retire with is people's biggest money worry, meeting monthly expenses is also high on people's money concerns list. This is hardly surprising considering the rises in council tax, gas, electricity and petrol prices faced by consumers this year.

The poll conducted by the AnswerBank found 31 per cent of people are most concerned about not saving for retirement closely followed by 30 per cent of people who are worried about not being able to meet monthly expenses.

The increase in outgoings a household has means the ''spare' money people have to spend each month has decreased making it even harder to save for retirement.

Only 6 per cent of the people polled said their main worry was their overdraft which will have bank managers twitching in their seats as overdrafts are readily used by the public. Just over 10 per cent of people said paying off their mortgage was their main concern.

Gas bills have risen three times in the last year, customers of British Gas will have an added average of £150 to their utility bills. Petrol has also reached record highs with people having to pay £1 a litre or more in many garages.

The 50 per cent interest increase on mortgage payments has hit buyers hard. Council tax has risen sharply by 16 percent and water bills have increased by 24 per cent making monthly expenditures bigger than ever.

To survive these increasing costs a person must either cut back dramatically on their spending or they may end up knee-high in debt. It now becomes apparent as to why bankruptcy is at an all time high in the UK; credit is so easily obtained but not so easily repaid. These figures do not bode well for creditors as the public frets over meeting monthly living costs.

Not being able to save for retirement is very worrying for the public, first time buyers are taking out 100 per cent mortgages due the huge increase in the price of houses which they could be repaying into their sixties when they should be close to retiring. It means that people are going to have much less money, if any, to save.

What are your biggest money worries?

Total number of people surveyed: 1157

Credit card debt 21.1%
Paying my mortgage 10.6%
Meeting monthly expenses 30.2%
My overdraft 6.3%
Not saving for retirement 31.8%

Notes to Editors: AnswerBank is a question and answer focused site which allows users to ask any questions from crossword clues to questions of science. It has half a million users who can freely discuss any issues concerning them or receive sound advice fast. Visit www.theanswerbank.co.uk

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Home Business - Saving on Tax

If you use a part of your home for business, you may qualify to deduct costs related to your home office, including rent, heat, electric, telephone, insurance, utilities, maintenance, repairs and so-on.

There are many tax-saving benefits available to those who operate their own small business in addition to their normal job or employment. First, you have the home-office deduction which can be used to deduct up to 20% of the cost of running your home. The amount depends on how much space you are using for your home office.

Secondly, you will become eligible to deduct a portion of many of the things you're already paying for such as your computer, your ink cartridges, your printer paper, and any computer related books or business-related classes you may be taking. If you're using your computer as part of your home-based business, then a portion of that is considered a business-related expense.

Most expenses related to running a business are tax deductible

Having said that, let's take a look at just a few of the more common home business tax deductions. You will be able to deduct most if not all common business-related deductions. Things like start-up costs, equipment purchases, payment for services, supplies, advertising, and other monthly fees like website hosting.

Basic Rules for a Business Deduction

Any expense that meets the IRS's basic rules (ordinary, necessary and reasonable) can be taken. A necessary and reasonable expense according to the IRS is one that is appropriate and helpful in developing and maintaining your trade or business

With all the tax benefits offered by Uncle Sam, wouldn't you agree that having a tax-saving, moneymaking, at home business, is worth taking a second look at.

At www.harborfinancialonline.com you'll find informative articles about Starting a Home Business for Tax Purposes and Tax Preparation Online




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When you are unable to save for retirement
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