How to Get Ready for a Business Tax Audit

While it is true that mistakes are inevitable, many businesses dread a tax audit and would do everything to avoid it. However, new solutions such as audit shield now exist to help businesses protect themselves from the effects of tax audits. In the first place, you need to remember that you are human first and then a business owner. Simply try to be as accurate and complete as possible to avoid common mistakes in your tax returns, which may call for a tax audit.

Types of tax audits

Tax audits exist in three different forms:

·         Through correspondence: in this form of audit, the IRS may ask for a confirmation, correction, or more records

·         Office audits: in this situation, you visit the IRS offices with specific documents

·         Field audit: in this case, tax officials come to your business premises. It is more comprehensive. The officials will ask for specific documents and reports

Know the limits on collections and audits

It is important to know the limits regarding audits and tax collections. Your accountant is in the best position to give you more information about this. For example, business audits and personal tax returns can take place after three years of filing. Accounting firms have access to audit insurance solutions such as audit shield, which is helpful for businesses. The solution can protect your business from the cost of a tax audit activity.

Preparing for a business tax audit

When you receive a request for a tax audit, the first step to take is to inform your tax accountant or advisor. Tax audit issues are tricky and even a simple letter asking for a particular document can signal a big problem. Fortunately, various solutions exist for businesses to protect themselves from the effect of a tax audit. An example of such solutions is the audit shield. The following steps are necessary:

·         Concentrate on lost or damaged records. Have a proper explanation or documentary of your efforts to recover the lost or damaged information.

·          Understand planned and unintentional failures: for instance, the tax department can be lenient if the failure was accidental, but they impose heavy fines on intentional failures.

·         Separate personal expenses from business records. Rely on your accountant or tax advisor to help you go about this, such as bank accounts, credit cards, or travel expenses.

What the tax officials focus on

 The tax officials focus more on their businesses and their activities. For example, if you operate a cash business, you are more likely to receive tax audit requests. It is difficult to prove the income of a cash business without conducting a tax audit.

In that case, you should be ready to show appropriate documents for travel, entertainment, and meals for your business. The tax department targets such expenses. Be ready to explain the business purpose of the mentioned expenses. Besides, the records must have details including time, date, and the people involved. In essence, it must have a business purpose.

Overall, it is advisable to cooperate with your tax advisor throughout the entire process.

Varieties of Commercial Fridges for Various Uses

The use of fridges is most common nowadays for both residential as well as commercial purposes. The history of fridges dates back to those days when ice cubes were used for storing food. In 1927, General Electric company launched the first domestic fridge that was used widely. These refrigerators were called DA series of the Monitor top refrigerators and were widely used. They were not as the modern fridges Melbourne shops sell nowadays. They had open copper tubing as the condenser and the refrigerant was sulphur dioxide, which is highly toxic.

From then until date, the evolution in the history of fridges Melbourne shops sell is huge, and if you are looking for commercial fridges, you will get different options too.

Different types of refrigeration units for renting

You may have to rent a freezer for different purposes, and for meeting the various needs of different types of business, there are different kinds of refrigeration units too. Here are some of them that can be of use to you.

Walk-in refrigerators

Those who are planning to open a restaurant may need to store a huge amount of items and that too in large quantities. Thus, instead of going for used freezer for sale, they can choose walk-in refrigerators. Inside the refrigerator, there is commercial shelving operation that helps them to store various units. There may be different temperatures in different parts or shelves of the walk-in refrigerator. You can store juices, boxed items or bottles inside it.

Reach-in Freezers

Again if you need to store something for your back of house operation, they are a perfect choice. They are available in both glass door and solid door options. For determining the storage capacity, cubic feet is used as a unit of measurement and there are multiple sections inside the freezer for storing different items.

Serve over Counter

When you are planning to open a grocery store or a café, your first choice may be to serve over counter while utilizing refrigerators. There is a bent level glass that makes the displayed items look more interesting. They are similar to the counter-top display units; the only difference being that they are not fully covered by a glass cover. Customers can get what they want on their own. Check out http://coldsolutions.com.au/index.php

Under counter Refrigerators

They are more or less like the upright reach in units that you find everywhere; the difference being that they can fit even in smaller spaces due to their small height. Thus, when you need to store certain food items in small quantities, this type of refrigerator is a good choice.

Bar Refrigerators

The list of different types of refrigerators will not be complete if bar refrigerators are not mentioned. Even in bar refrigerators you will find different options that include plate chillers, keg coolers, back bar refrigerators and others. Generally, they have a trendy look that goes well with the interiors of a bar.

When it comes to fridges Melbourne shops offer for hire, these are not the only options. There are many other types of fridges, and if you know your specific need, you will surely get the one that will help you in storing and freezing your food items safely.

Selecting Unique Items in AFL Stores Online

The AFL or Australian Football League is sporting confederation with the highest attendance all across the country. As well, its games rank among the most watched in Australia. This league has brought together hundreds of spectators to watch, support and celebrate support favorite teams. Apart from cheering up a team, one can show such support for a favorite club by purchasing its merchandise and apparel from an AFL shop online for instance.

Diversity of Products Available

People who are passionate about AFL clubs have many easy and possible ways of acquiring authentic AFL memorabilia and merchandise. AFL online shops offer one of the quickest methods of obtaining these items. They avail a broad range of products that demonstrate support for favorite clubs. Ranging from the Western Bulldogs to the Adelaide Crows, these web-based shops are great sources of obtaining unique, yet useful items for commemorating one’s favorite clubs.

Convenience of Browsing Online AFL Stores

AFL online stores are quite easy to browse as well for anyone focused on acquiring AFL goods. They can seek for products like kids wear, inflatable hands, supporter apparel, game day items and accessories, football gear, as well as bar accessories. Other products are available too at these internet outlets, such as automotive accessories, infant and baby items together with home ware goods.

Acquiring NFL Gift Items

One can also find the ideal gift to suit a friend who relishes supporting football teams. Cool items are available in online shops regardless of where they are found all over the country. These shops provide an ideal place for genuine football fans to find the exact kind of item they like without visiting a physical AFL store. They boast great convenience whether one seeks for a cap dedicated to one’s club or just a simple scarf.

Securing Web Transactions

Certain individuals go through difficulties making online purchases since they are uncomfortable with what is offered at security-based web stores. Finding a minute padlock icon located at the web-browser’s lower right side is a simple way of checking if you can trust a website with your credit card details. The icon signifies that it is secure, which gives a shopper the confidence of proceeding to make online purchases.

Methods of Payment

Payment can be done with different methods via an AFL shop online. Most of these shops accept major credit cards most of the time, along with online checks, EFT POS cards and direct bank deposits. Products and items brought through these web-based shopping outlets get delivered straightaway into the home of a buyer. One can expect to get the products ordered within a day or two, once the transaction is done.

AFL shoppers need to seek for an AFL shop online which can provide a comprehensive range of top-quality aerial ping-pong products like clothes, gifts and specialty items. For collectors, official AFL photos and AFL memorabilia can as well be found within these online stores. One can purchase these items at any time conveniently, thanks to the World Wide Web and be able to support a favorite club whether on or off-season.

Why Office Furniture Has to be Chosen Carefully

On average, most people spend between 8 and 12 hours each day working, perhaps with the exclusion of weekends. With advanced technology, there is not much movement from one end of the office to the next as most of the items people needed from the cabinets or shelves can be easily stored within the office software system. What does this mean? More time is spent sitting, making it necessary to use the most comfortable office furniture available.

The work environment is supposed to be friendly in a number of ways. Often, when people talk about incentives at the workplace, very few of them ever think about office furniture playing an integral role in boosting productivity. Studies show that people who are happy at the work place are very productive. And one factor that contributes to workers’ satisfaction is the kind of office furniture used.

A quick look at most offices around the world will reveal something to a keen observer. There is a general change in the kind of office furniture used in a number of offices. One may wonder why employers are keen to provide a complete makeover where furniture at the office is concerned. These are proven facts that managers ought to take seriously…

Facts about Office Furniture

  • Old and outdated furniture can make workers less productive – Good furniture tends to bring the work mood closer home. On the other hand, boring furniture makes workers clumsy, leading to a feeling of laziness. It gets worse for an individual who has been to other offices where there is great furniture.
  • Great Colors create a working mood – Very dull colors tend to dull people’s spirits while vibrant ones make individuals active and ready to work. Of course this may not apply to everyone but with the choice of bright colors in most offices, it seems there is some kind of enthusiasm wrought about by vibrant colors.
  • Great furniture is easy to clean and gives the impression of tidiness – With the latest designs of office furniture, cleaning or tidying the workplace has never been made easier. Old furniture tends to look outdated in an environment with new devices like computers and other latest gadgets. In fact, the kinds of tables used previously were designed for typewriters while current day tables are meant for computers and laptops. This makes an overhaul of furniture a necessity if it has not been done in the recent past.
  • Standing desks are a great way of keeping workers healthy – Sitting for long hours without sufficient breaks in between is a recipe for trouble with illnesses like diabetes, obesity and even cardiovascular diseases. A manager should purchase standing desks for workers to stay healthy during their time at the workplace.
  • Proper lighting during the day is important – Shop for furniture that does not obscure windows or other sources of light at the office. Studies indicate that proper lighting helps workers enjoy better sleep at night. Remember, a productive worker needs sufficient sleep too.

The office is supposed to be friendly in all sorts of ways. Clients love to pop into a workplace with vibrant workers and great furniture. A manager should therefore ensure that the workplace is friendly by purchasing suitable furniture for the office.

What You Need to Know About Hard Money Loans

Hard money loan is a short-term loan that is secured by real estate, and funded by private reliable investors such as Hard money Loans with Evoque Lending. This loan requires only interest and some principal with a balloon payment at the end of the term. In addition, the amount you can get from a hard moneylender is majorly based on the value of the property. The property can be the one that you already own and wishes to use as collateral. On the same note, it is important to note that the lenders are much concerned with the value of the property, as compared to credit history of a borrower.

Therefore, reliable experts for hard money loans with Evoque Lending recommend that, borrowers who cannot get conventional financing due to recent foreclosure, or short-term sale, are still able to get hard money loans if they have sufficient equity in the property they use as collateral. Therefore, before you apply for a hard money loan, you should know the following about it.

Property types for hard money loans

In this case, a borrower can get a hard money loan on almost any type of property – from single family residential, multifamily residential, to commercial, land, and industrial. However, some lenders may specialize in one type of property such as industrial, and may not be able to offer land loans because they have no experience in that field. Therefore, different lenders have a specific niche of loans that they offer comfortably, so a borrower should ask his or her preferred lender about which loan they are willing to offer.

In addition, hard moneylenders cannot lend owner-occupied residential properties, because of some rules and regulations that do not permit them to do so, but some are willing to wade through the paperwork with a borrower.

What are the benefits of hard money loans?

Today, many real estate investors chose to use hard money for many different reasons. However, the main reason is the ability of the private loan lender to offer them this loan as quickly as possible. In many situations, a hard money loan can be funded within approximately one week. In addition, the application for a hard money loan can take about a day or two days in some cases, and the loan can be approved on the same day a borrower applies for it.

For that reason, the ability to obtain funding at a faster rate as compared to bank loan is a great advantage to real estate investors. Therefore, when an investor tries to acquire a property with many competing bids, a quick close to hard money loan can attract seller’s attention, and set apart from buyers who offer slow conventional financing.

Another reason why a borrower may choose to use hard money loan is, if a conventional bank rejects his loan request due to short sales, foreclosures, or credit issues. However, hard moneylenders can look past these issues. As long as the loan can be repaid, and the borrower has enough equity invested in the property he uses as collateral, he can get a hard money loan.

For more information on hardmoney loands with Evoque Lending, visit http://evoquelending.com/