div img class=”category-img” src=”http://ftper.newsusa.com/Thumbnail/PrepaidDebit.jpg” alt=”Five words or less” width=”180″ //divdiv class=”category-listcontent”div class=”category-body” id=”ArticleBody” style=”display: block” (a href=”http://www.newsusa.com”NewsUSA/a) – The current economy has made credit cards more difficult to acquire, much less pay off. But those who don’t qualify for credit cards or who …/div/div
Shopping for a New Home? Check Out the Kitchen
 NewsUSA) – Buying a home is the largest investment most people will ever make, so it’s no surprise that such a big decision may seem daunting. There are, however, some simple guidelines that can help you find a home that you will be happy with for a very long time.
A recent study conducted by Merillat, a leading manufacturer of cabinetry, examined what consumers think about when they’re purchasing a home. The study found that the kitchen sways more minds than any other room, followed by the great room and the master bedroom third. “The kitchen is the gathering place for special occasions, family functions and day-to-day activities, which is why it is so important for prospective buyers to ensure their new kitchen will meet the needs of their family from a design and functionality prospective,” said Paul Radoy, manager of design services for Merillat. Try creating a checklist to help you decide whether a kitchen is right for you. Ask yourself these questions: 1. Do I like the layout of the kitchen? Consider the kitchen from an overall perspective, and keep all the items that will require storage in mind. 2. Does the kitchen look comfortable? Do I feel good when I’m in it? You should feel at home right away. 3. Does the kitchen help facilitate frequent casual interactions with family and friends? Consider the views into the surrounding rooms, like the living and dining areas. Can you easily associate with family and friends? 4. Is the cabinetry durable and well-built? Is the finish on the cabinetry smooth and consistent? Investigate the cabinet interiors to determine whether they’re covered with a durable water- and stain-resistant material or a lower-quality product. Make sure that the color of the interior complements the exterior. 5. Does the kitchen have visual impact or a good focal point like an island, cooking grotto or other unique feature? Islands are a useful feature that many homeowners desire. When examining an island, identify the tasks or storage functions it serves to decide whether it will meet your needs.) 6. Does the kitchen have adequate storage space and built-in features to accommodate my possessions? Merillat’s study found that, after remodeling a kitchen, many homeowners find that they didn’t include enough storage features. Make sure you don’t overlook features, like drawer organizers, pull-out trays and lazy Susans. To more learn about kitchen design and storage features visit www.Merillat.com. |
Save on Your Taxes by Starting Your 2010 Return Early
 NewsUSA) – Some major tax breaks included in the American Recovery and Reinvestment Act (ARRA) and the Worker, Homeownership and Business Assistance Act passed last year are expiring for 2010, including the First-time Homebuyer credit, new vehicle credit and unemployment deduction and government retiree credit. However, many credits will again be available for 2010 federal returns -; the Making Work Pay, American Opportunity, additional child, expanded earned income and home energy improvement credits are among them.
“Certain credits and deductions require advanced planning in order to get the maximum tax benefit. Although it may seem really early to start tax planning for next year, it’s a smart move that could save you thousands.,” explains Jessi Dolmage, spokeswoman for Second Story Software, the makers of TaxACT. A few easy steps will help you avoid missing out on credits and deductions, and minimize your tax liability. First, familiarize yourself with both acts by visiting www.IRS.gov. An entire section of the website is dedicated to the ARRA, and additional information and a Making Work Pay Calculator are available at www.TaxACT.com/recovery-act. Second, get organized. Put all tax records in one secure place, including receipts and statements related to: * Child and dependent care * College expenses * Medical expenses * Vehicle taxes * Real estate taxes and mortgage interest * Charitable contributions * Business or employee expenses * Investments and retirement contributions * Energy-efficiency property expenses * Expenses related to job searches Sort documents by topic to easily access the information when working on related deductions and credits. In addition, include a copy of your 2009 tax return for reference and comparison. If you plan to e-file, you’ll need it for your 2009 Adjusted Gross Income or Self-select Personal Identification Number. Third, start your 2010 federal tax return in October and create your year-end tax plan with the preview versions of TaxACT. Starting your federal return early will save time when you’re ready to file, reduce errors (because you won’t be rushing), and find all your deductions and credits. Dolmage explains, “Whether you typically do your own taxes or have never done them, a solution like TaxACT Online Free Federal Edition will show you exactly how these tax law changes will affect your 2010 return. Choose a step-by-step interview or complete the IRS forms yourself, at your own pace. Either way, TaxACT will help you capitalize on the acts and estimate your refund amount or taxes owed.” To start your free 2010 federal tax return or for more information about TaxACT, visit www.TaxACT.com. |
Break Into Business With a Franchise
 NewsUSA) – Many Americans dream of entering the business world, but don’t know how to get started. Giving up one job to start from the bottom in another sector isn’t always realistic, and those with little experience might not know how to run a solvent business. For them, buying a franchise could be the best opportunity available.
Many franchises promise little risk — one oft-cited statistic is that 95 percent of franchises succeed, while 90 percent of independent businesses fail. But this statement rings false. In fact, the International Franchise Association (IFA) asked franchises to stop using this misleading statistic in 2005. There is a risk in starting any business, even a new franchise location. But that doesn’t mean that franchises don’t succeed. According to the IFA, franchises operated 909,253 establishments, provided 11 million jobs and contributed $278.6 billion in payroll between 2001 and 2005, the last year for which information is available. According to FranchiseMart/Biz1Brokers, a business that matches prospects with franchise opportunities, franchises work best for people with some start-up money, but little or no business experience. The franchisee can take advantage of the franchise’s proven business methodology, training and management support to learn how to run their business successfully. Franchises also offer greater exposure, thanks to national media campaigns, and cost sharing that can lower overhead. All in all, franchises offer greater security to the first-time business person, especially in today’s rough economy. Would-be franchises should look for franchises that offer thorough training and continuous support. For example, United Franchise Group, which owns multiple franchises, including Signarama, Billboard Connection, Plan Ahead Events and Embroid Me, enrolls its franchisees in a mentorship program, so new franchisees can get advice from successful franchise owners. Proven marketing, a good success rate and a strong brand also indicate a franchise that’s worth an investment. Of course, finding the right franchise is the first step towards success. Those interested in buying a franchise should look at businesses that suit their skills, personality traits and budget. For more information, visit www.unitedfranchisegroup.com. |
Haiti Relief Efforts Insist Cash Is Best
 NewsUSA) – When natural disasters strike, they bring out the best in most people. Overcome with the good intentions to help, they give supplies that they feel are needed most. But what they don’t realize is that cash is best to help the victims of an international disaster.
Such was the case after the 2005 Asian tsunami. Aid workers found themselves flooded with donations that, while given with the best of intentions, could not help tsunami survivors. Now, earthquake-devastated Haiti finds itself in a similar situation. Transporting items from America creates added expense, as well as a headache for the professional relief organizations, who have to sort, pack, move and distribute the donations. According to Center for International Disaster Information (CIDI), cash proves far more helpful. Aid workers on the ground know exactly what victims need, and can direct funds accordingly. Many organizations have been active in Haiti for decades, so their workers have established ties with the Haitian community, know local customs and can determine what supplies will help the most. Additionally, American dollars go further in Haiti, allowing organizations to get more bang for every donated buck. Cash donations help to stimulate the local economy and thus help to speed the rebuilding process. And those who donate cash can rest assured that their contributions will go directly to the disaster site — in contrast, many donated items have to be thrown away, often for legal reasons. Relief organizations do not want Americans to stop donating, they simply want to spread the word: To help the most, cash is best. “Americans can help the most by donating cash to an established relief agency,” says Suzanne H. Brooks, director of CIDI. “Helping the efforts of professional humanitarian relief agencies is the absolute best way to aid the victims in Haiti.” For more information, visit CIDI’s Web site at www.cidi.org. To find a list of credible humanitarian relief agencies, visit www.interaction.org. The Web site www.charitynavigator.org provides valuable information about making informed decisions when supporting charities. |
The Flip Side of Foreclosure
 NewsUSA) – In so many ways, foreclosure is an end. It’s a bank’s last resort, and the sad final chapter for a family sold on the American dream of home ownership.
But in another sense, foreclosure is also a beginning — a never desirable, but often useful, tool that can help stave off neighborhood blight and create a path toward rejuvenation. As much as everyone wants to avoid foreclosure, it does provide cities — especially older ones with declining populations — the legal means necessary for acquiring property that would otherwise become vacant or abandoned. The trouble is that there’s a stigma associated with foreclosure, and legislators can be swayed to impose restrictions on the process that make it more difficult for municipalities that want to reclaim and reuse property that has been left to decay. So, from a policy perspective, what can be done to create better legal tools for clearing titles that don’t depend solely on the self-interest of debt collectors? Here are some ideas proposed by Mary Helen Petrus, a researcher at the Federal Reserve Bank of Cleveland: * Quiet title actions, in which governments go to court to “quiet” any and all claims to a property’s title. * Laws to facilitate nuisance abatement through receivership (giving courts the power to assign repairs or improvements to an overseer of a vacant property). * New rules making it easier for willing homeowners to forfeit their properties so that governments can take stewardship. * Processes for tax foreclosures that don’t have to go through the courts. This is not to say that foreclosure is always the best option. In viable neighborhoods, the most beneficial course of action is generally to focus on improving the quality and affordability of housing for the people who still live there. But when there’s a breakdown, and there’s no hope of rescuing properties from becoming vacant or falling into disrepair, foreclosure is often the most viable option. This is especially true in American cities where joblessness is high, or the population is dwindling. In these situations, where there simply aren’t enough homebuyers to purchase the number of homes available in a market, foreclosure can actually help begin the process of revitalizing neighborhoods. For more information on this subject, visit www.clevelandfed.org/pr/foreclosure. |
Prepaid Cards Come Out on Top for Savings
 NewsUSA) – Economic woes have changed people’s mindsets about spending. Now, many Americans are relying on prepaid cards to control their spending and budgeting.
Branded prepaid cards (cards with an American Express, Discover, MasterCard or Visa logo) require pre-loaded funds, so they can’t be overdrawn. The cards can be used anywhere the logos are accepted. A direct comparison study published in October by G. Michael Flores of Bretton Woods, Inc., a management advisory firm specializing in financial institutions, shows that those with checking accounts pay more for similar services than users of branded prepaid cards. Flores’ research found that bank customers pay from $200 to just over $350 annually for a basic checking account. Users of prepaid cards with direct-deposit pay $110 to $210 annually. Consumers who rely on check cashing services and money orders to meet their monthly obligations can also cut costs by using prepaid cards. Many prepaid programs allow automatic payroll depositing, so money is available on the card on payday. “While prepaid cards should not be considered a replacement for checking accounts in all circumstances, we see that consumers are finding a number of ways to use the cards to promote fiscal responsibility and smart budgeting,” said Kirsten Trusko, President and Executive Director of the Network Branded Prepaid Card Association (www.nbpca.com). “Families purchase prepaid cards and load spending allotments for the month, professionals have their paychecks directly deposited onto them to avoid the wait time of cashing a check or ATM fees, and under-banked consumers use prepaid cards to avoid the costs and hassles of check cashing services,” added Trusko. The NBCPA offers the following tips for saving and budgeting with prepaid cards: * Directly deposit paychecks onto the card for immediate access to funds. * Load only the amount your family can spend each month. * Use prepaid cards instead of checking accounts to make automatic bill payments and carefully monitor spending online. * Give prepaid cards to teenagers to teach them the responsibility of using a card. Let them load cards with their own money. * Make digital payments without the risk of credit card overdraft. * Find easy access to digital payments, even as credit card qualifications become more stringent. |
Investment Networks Obstruct Risk Capital
 NewsUSA) – Emerging evidence suggests that the proliferation of thousands of “investment networks” over the past decade has obstructed the flow of risk capital into early-stage enterprise by impeding the deal-flow information that should be openly available to prospective investors.
A Google search for “business angel networks” produces 22 million results, “venture capital advisors” 1 million. A survey of Linkedin, probably the world’s biggest online business community, showed that it has 430 separate networks covering early-stage off-exchange investment, plus thousands of others covering vertical markets, all of which carry investment offerings. These numerous networks have created a hopelessly fragmented market in which fewer than one percent of capital raisings are actually successful. Early-stage companies have accrued more debt because the flow of genuine risk capital, traditionally provided by entrepreneurs, has been cut off. This results in frustration and unnecessary expense for fund seekers as well as investors. Data from the U.K. and U.S. Treasuries, private equity, wealth management and venture capital sources, that have been collated and researched by Growthwire, a global deal-flow newswire for early-stage investors, show that there are 1 million early-stage companies raising capital worldwide at any one time. On the other side of the equation, there are 10 million wealthy, successful entrepreneurs who want to invest in business start-ups. These investors want a convenient deal-flow source that they can tailor to their individual needs. They don’t want to find their way around countless networks. Growthwire, a U.K.-domiciled company now a year into its global roll-out, is making inroads into the North and South American markets. Growthwire has been welcomed by Brian Hill, founder of Fountain Hills, Arizona-based business advisory firm, Profit Dynamics Inc., and the author of the popular book “Attracting Capital From Angels.” Hill believes that this newswire will bring efficiency into the market by allowing networks and individual investors to find and do business with each other. No other capital market in the world could possibly operate without the plethora of investment, business and finance media that serves it. With Growthwire now introducing some structure to this essential wealth-creating market, life may become easier for early-stage businesses and the entrepreneurs who would invest in them. For further information, visit www.growthwire.com. |
How to Successfully Start an IRA
 NewsUSA) – Maybe your company offers a 401(k) plan. But even if it doesn’t, you need to get an IRA now. Because IRAs use compound interest and are not taxed by the IRS, contributing even a few thousand dollars a year can create a sizable nest egg.
And yet, according to the IRS, only 10 percent of the people eligible to create and contribute to IRAs actually do so. If you think you can’t afford an IRA, you’re wrong. Consider that Social Security typically pays $13,000 a year — unless you can live on that miniscule income, you’ll need to find an additional way to pay for retirement. How do you know if you’re eligible for an IRA? “Anyone who earns a taxable income or files a joint return with a spouse who earns an income can contribute to an IRA,” explains David Bach, the author of nine national bestsellers, including “Start Late,” “Finish Rich” and “The Automatic Millionaire.” Bach recently shared his insights about IRAs with the readers of SUCCESS Magazine, where he offered the following advice: - Start Early and Save Until Retirement. Thanks to the miracle of compound interest, those who start saving early end up with the largest nest eggs. “If you were to start at age 55, you’d contribute a total of $50,000 in the 10 years before you retire, at which point your account would be worth $72,433,” says Bach. “By contrast, if you started at 25, you’d contribute $200,000 over the next 40 years, and by the time you retired, your account would be worth $1.3 million.” - Invest Wisely. You can invest the proceeds from your IRA any way that you want, but some moves are wiser than others. Bach recommends “target date” or life cycle funds, which are specially designed for retirement savings. The fund automatically makes sure that you have investments appropriate for your age, acting more aggressively in your younger years and becoming more conservative as you near retirement. - Know When to Start Withdrawing. Legally, you can begin withdrawing funds from your IRA when you’re 59 and a half, but if you’re in a high tax bracket, you should put off withdrawals for as long as possible. SUCCESS magazine offers a balanced approach to successful living by covering topics on business, wealth, well-being and philanthropy. Visit www.SUCCESS.com and search the August issue to read the rest of Bach’s advice. |
Wealthy Entrepreneurs Are Key to Recovery
 NewsUSA) – Try Googling ‘wealth creation,’ ‘wealthy entrepreneurs’ or anything similar, and you will be presented with books, courses, a mind-boggling array of advisors and consultants and a host of ‘fast buck’ deals all hinging on real estate. However, ‘The Future of Wealth’ survey produced by Barclays Bank in association with the Economist Intelligence Unit in 2008 states that entrepreneurs are now emerging as “the dominant source of riches.” It does not end there, the International Financial Services private banking and wealth report, also from 2008 states unequivocally that the main source of growth in private wealth, worldwide, “…originates from those involved in building successful businesses.”
A wealthy entrepreneur might be the CEO of an enterprise providing a worthwhile income, or they may have sold that enterprise and moved on. Either way, they have created wealth for themselves, their shareholders and their employees, and it is in their genes for most of them to go through the process again. For them, it is not so much the money but the buzz that comes from pushing the risk-vs.-reward dynamic to its limits, and that dynamic is something that only entrepreneurs understand. Banks, with the risks they increasingly exposed themselves to over the past decade or two, were exploiting wealth that had been created by the real risk-takers, entrepreneurs. Perhaps the time is long overdue when banks should revert to being the plumbing of the economy, and nothing else. To get an idea of the kind of private wealth that is available for investment, (and it is already widely recognized that alternative investment is at the top of the agenda for wealthy individuals) we can call on yet more authoritative reports. According to The Scorpio Partnership, a consultancy that provides research services to the global wealth management industry, there is currently $11.4 trillion of private wealth under management. The annual World Wealth Report 2008 from Merrill Lynch Capgemini estimated that in 2007 the value of funds managed on behalf of 9.5 million high-net-worth individuals worldwide was $40.3 trillion. But there is a problem in re-cycling the wealth, or at least some of it, created by successful entrepreneurs into capital-starved start-up and growth companies. And this has always centered on getting the information from those early-stage companies in front of the wealthy entrepreneurs who might want to invest in them. Research conducted by Growthwire, a deal-flow newswire for early-stage investors, showed that there are 10 million investors seeking out deals, and 1 million early-stage capital raisings at any one time, worldwide. From a media standpoint, this is a colossal market that even some of the biggest players, including Dow Jones and Reuters, have tried addressing, each with their own take on the issues involved. These issues include confidentiality, quality control and compliance with a global cauldron of conflicting regulation in this particular investment stratum. The main challenge for any of them is that, unlike the mainstream capital markets where deals are high-value and low-volume, the early-stage investment market is comprises of hundreds of thousands of low-value deals at any one time. This mass of information needs to be aggregated from quality-controlled sources and distributed according to investor preferences. Whichever company gets the formula and technology right, be it Dow Jones, Growthwire or Reuters, they will dominate an investment stratum that fuels half of every developed economy in the world. On top of that, they and the wealthy entrepreneurs they will be serving will most likely be the driving force behind global economic recovery and onward growth. |
