Monthly Archive for May, 2010

Canada’s Insurance Brokers Association, What Are the Benefits of Joining

Published on May 14, 2010 in Uncategorized. 0 Comments

Belonging to Canada’s Insurance Brokers Association provides many benefits. But do these outweigh the time and cost of belonging to this organization? Because we are dealing with a business decision we must make our arguments for, or against, based on the business benefits it does, or does not provide. This short article will look into some of the benefits of belonging to this august organization, focusing especially on the education and training available to members.

We will divide this article in two main sections. Our first section will focus on the education programs available, while our second will highlight the improved service an Insurance Brokers Association member can offer. We hope this article can help you make a decision that will benefit you and your professional advancement in the insurance industry.

One of the satisfactions of being part of any industry as a professional is the opportunity of growth. True professionals never stop learning, and are constantly trying to better themselves through training and education. If you take on this challenge of continually improving yourself you can expect this constant learning and improving of your skills will allow you to take on higher levels of responsibility. What these higher levels of responsibility are will depend on your goals, ambitions and personal qualities, however you will not be short of options.

In order to provide their members with the best service possible the Insurance Brokers Association of Canada has created a Career Path that will allow you a lifetime of learning and training. This will make your career more interesting and vibrant, as well as making you a better professional.

There are nine main programs currently available to members. We will highlight some of them, although you are encouraged to do further research and find more information on all nine programs. The first step for a budding insurance broker is to carry out a Best Practices program. This program is designed to enhance the performance of members by comparing the broker operations of the 150 top performing companies in the U. S and Canada. This helps brokers identify the type of strategies that work in the insurance industry.

A great second step is to earn your CCIB, Canadian Certified Insurance Broker, designation. This qualification proves to customers you are prepared to offer a superior standard of excellence. These qualification do not only make you a better broker but also a more successful one financially speaking as customers prefer brokers that inspire confidence with an acclaimed qualification.

IRM, Introduction to Risk Management is another great program if you are interested in improving your professional skills. This program will provide you with a basic understanding of what risk management is all about, and how risk managers do their job. This is important for insurance brokers as their whole industry relies on the accurate management of risk.

If you take on one or all of the programs available through the Canadian Insurance Brokers Association and take advantage of the many tools they put at members disposal you will become a more professional and successful broker.

Full service brokerage offers corporate and personal insurance solutions. When looking for the best protection and information on Car insurance, Home Insurance in Whitby, Health Insurance, Life Insurance options, there is Insurance Brokers in Oshawa

How Californians Can Double Dip on Home Buyer Tax Credits

Published on May 14, 2010 in Uncategorized. 0 Comments

The government is doing anything it can to get the real estate market moving again. The federal government is offering a tax credit for home buyers. The state of California just did the same. For a very short window, the two overlap. If you time if right, you could get the federal tax credit and the California state tax credit for buying a home.

First, you would have to sign a contract to buy a home by April 30th, 2010 and close by June 30th. Make sure you qualify under both programs. Here are the details.

Federal Home Buyer Tax Credit

First time home buyers are eligible for an $8,000 tax credit. If you have not owned any real estate in the last three years, you qualify as a first time buyer. Repeat buyers can get a $6,500 tax credit. This is a tax credit, not a deduction. Whatever your final IRS bill is, subtract $8,000 or $6,500. If you don’t pay that much, you’ll get the credit anyway in the form of a refund. You get it all the first year, so if you buy a home before the deadline, the credit will apply to your 2010 federal income tax.

This credit applies when you buy a primary residence, whether it’s a resale or new construction. It’s expiring soon, though. You must sign a contract by April 30th and close escrow by June 30th.

California Home Buyer Tax Credit

The new 2010 California home buyer tax credit also applies to the purchase of a primary residence. First time home buyers can get the credit whether they buy an existing home or new construction. Repeat buyers are eligible for the same $10,000 credit, but only if they buy a brand new home.

This is also a credit, not just a deduction, which means you get a dollar for dollar reduction of your state income tax liability. Unfortunately, this is not a refundable tax credit. You can apply $3,333 to your state taxes for three years, beginning the year you purchase the home. If you don’t pay $3,333 in state taxes each year, you won’t be able to take full advantage of this credit. This doesn’t necessarily mean that you owe the state $3,333 on April 15th. Your annual tax bill includes funds withheld from your paycheck. Look at “tax owed” on your state tax return. This credit is available on homes closed after May 1, 2010 until funds run out.

Other things to remember

These amounts are maximums. The federal tax credit is actually 10% of the home’s value, up to $8,000 or $6,500. If you buy a home for less than $80,000 (unlikely in many parts of California!), then your credit is capped at less than $8,000. Also, the maximum value is $800,000.

The California tax credit is 5% of the purchase price, up to $10,000. If you buy a home priced under $200,000, your credit will be capped at 5% of the value.

There are some other criteria, such as caps on income. If things look good so far, read the specifics of each tax credit. Better yet, contact a tax professional and make sure you’ll qualify before you rely on the money.

The window to take advantage of both credits is very limited, and lenders are very busy. Find a lender and start the loan application process as soon as possible. Collecting bank statements, tax returns and other documentation can be time consuming.

This combination of tax credits and low interest rates will probably never happen again. If you are in a position to buy a home, this is your golden opportunity.

Written by Coleen Bennett Chula Vista New Homes San Marcos New Homes New Homes San Diego

Short Term Investing For These Times – Real Estate Tax Liens

Published on May 14, 2010 in Uncategorized. 0 Comments

Making and preserving capital is important in the best of times, and even more so in the tough economic times we live in today. And you have many options where you can invest your available funds. The stock market, bank CDs, mutual funds, money market accounts, the mattress. But what to choose, and how to diversify your available capital?

Some are fairly risky but with high potential returns (the stock market, junk bonds), some low risk but with low returns (money market accounts). Or no returns (the mattress).

Another potential avenue for investment – real estate tax liens. You may already know that tax liens and tax lien certificates are applied to local properties by city or county tax authorities to collect property taxes. You may also know that the taxing authority may foreclose on a property to pay off the tax owed.

Did you also know that you, as an individual, can purchase tax liens on local properties? They can be bought by auction at the county court house or even in some cases online. If the property owner does not pay off the lien (to you), then you can initiate foreclosure proceedings and acquire the property for only the cost of the lien, which considering the market value of the property, could be only pennies on the dollar. A pretty good deal, as you can use the property or sell it off for a nice gain.

Now most property owners have one to three months, on average, depending on locale, to pay the tax lien and keep their property. And mostly 90 to 95% do so. But here is the kicker – while you are holding the lien you are paid interest at a fixed guaranteed rate (usually set by the county or state). Some rates are as high as 10-18%! Certainly much better than a three month CD from the bank and possibly even safer.

So here is my suggestion if you are looking to invest some short term cash: acquire some real estate tax liens for your portfolio. Constantly buying one or two every month or so and rolling them over will provide a much better return on your cash than any CD or money market fund. You can pick and choose properties/liens to acquire, depending on the property and your budget. And it is risk free, as the local government is the one guaranteeing and paying the interest.

An added bonus – if the lien is not paid you can acquire the property itself. You may not be able to wheel and deal like Donald Trump, but you can potentially acquire several properties and sell them for pretty decent gains. Earn interest on the lien, or earn interest and acquire a property. A win-win situation in any case.

So if you are looking for another way to diversify your portfolio and invest some of your free cash at rates better than the few percent the banks will pay you, this could be a valid option for you.

Robert McKinney is an guru in the area of photography and real estate. Read more about home businesses at his website http://www.most-useful-books.com/ and photography at http://www.digitalphotographybook1.com

Various Ways to Get Out of Financial Crunch

Published on May 14, 2010 in Uncategorized. 0 Comments

Whether it a festival celebration or a family function, you will find yourself in crunches of money shortage. In that case you have to look for options to get instant money in to your bank account. Various options available to you are:

1) Bank loans: You can apply for loans in banks when you need money. But for that you have to go to them directly and submit an application form. The form will be processed and you have to wait for the final approval. This will take at least five to seven working days. Also you will be told to submit some guarantee so that the bank can get their money back if you do not repay on time. If you do not have any guarantee then you will be said sorry or else a vary low loan amount will be approved for you. So if you need immediate money, this is not an advisable option for you.

2) Loan sharks: Loan sharks are loan providers who are operating at a place without any registration. They can provide you with immediate money but with very high interest rate. Also the interest rate can change without any prior notice. The main reason for their such behavior is that they are not registered so there is no worry. So do you want to get yourself crunched by hands of these loan sharks? Definitely your answer will be no. Many countries have even banned these loan sharks but still when you are surrounded by financial problems, they will somehow find you and will take advantage of your situation. You will be given so much offers that it will be difficult for you to get out of it. So it is clear that this is not a valid option for getting rid of financial problems.

3) Payday loans: Most of us are unaware of this form of money. These are short term loans which is mainly useful to remove emergency cash needs. The process of applying is also very simple. Most of the payday lenders have online reach through their website. You just have go to their website and fill an online application form. After filling the form you can expect money into your account in a matter of few hours. So it is much better than above two mentioned methods as you do not have to wait for the money and also you can apply by sitting at your home. No need to go any where for applying. But payday loans also has some loop holes. The interest rate charged is very high. In finance terms it is known as APR. So if you delay the repayment the interest can really grow to a new height.

But instead of all these flaws, if you are aware of the nature of payday loans that it is a short term loan and you need to repay it on time, you will be in a profit. Also all the lenders are registered organizations and you can find these information on their websites. So no doubt in the fact that these are trusted source of money.

A little awareness about the situation can take you out of any debt. You have many options each having its own positives and negatives. Payday loans are so far better among all the mentioned but still make sure to know your condition well before applying. Banks are still the favorite among many though their slow rate of operation. But make a research before going with any mean of money to grab you out of financial crunch.

My name is Steven Francis and I work for Lending Stream providing payday loans in UK. We are an online lender in UK formed with a single mission – to make payday loans more straightforward & understandable for consumers.