BUSINESS

Why USA is one of the best places to do business?

By on July 22, 2021
2. Obtain an EIN

In today’s world, the USA is one of the best places to do business. Business in America is a great option for those who wish to earn money through honest work. The colossal internal market, low level of corruption, transparent legal system, state support and assistance to small business, positive attitude of society towards various forms of independent activity allow one to enjoy doing business. In the United States, there are all the opportunities not only to profitably make your investments, but also to make your business quite profitable.

Doing Business in the USA

The USA is a country of entrepreneurs and it is easy to incorporate company in USA. This statement is not fiction, but a fact of life. It comes from the fact that in the United States, almost every day, a lot of original ideas for new business areas are born. Therefore, you do not have to think for a long time about what to do; you can use an already existing business model.

Currently, the United States has the lowest taxes, while Delaware, Wyoming and Nevada have none other than the annual re-registration fee. The United States and the CIS countries have reached an agreement on the inadmissibility of double taxation. A businessman who has paid the minimum US taxes is fully and officially exempt from tax in the CIS countries. Also, a company owner who registered his business in the United States is exempt from paying taxes on profits that he earns outside the United States, even if he is not a resident of this country.

LLC incorporated in Delaware has a number of advantages:

  1. It can be created by one person (both a resident and a non-resident of the United States, both an individual and a legal entity). The presence of a Director (manager) is not required, the LLC can be managed by the participants (member) themselves. The maximum number of LLC members is not limited.
  2. Obtain an EIN is the most important step and can be done easily.
  3. Members are not personally liable for the debts and obligations of the limited liability company. The participant’s liability is limited by the amount of his contribution (as in corporations).
  4. The internal organization of relations between LLC participants is flexible, a high degree of discretion, which is expressed in the ability to provide for any conditions for the distribution of profits in the Agreement of the company’s participants, create classes and groups of participants endowed with special rights and privileges, etc.
  5. If a limited liability company is incorporated by a non-resident alien in the United States and does not operate in the United States, then it does not have to pay federal taxes. The LLC in this case only has to pay the franchise tax levied on legal entities in the state of Delaware. The LLC rate is fixed at $250 per year.
  6. There is no minimum capital requirement for an LLC.
  7. The profits of the LLC can be distributed in any way that the LLC members have agreed in the Company Membership Agreement, regardless of the size of the contribution of one or another member.

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BUSINESS | FINANCE

Line of Credit – Know Meaning, Definition, Types & Advantages

By on July 13, 2021
Line of Credit - Know Meaning, Definition, Types & Advantages,

Similar to credit cards, the line of credit for business is a revolving credit account that lets you borrow up to a limit without having to borrow the total amount at a go. They can be used in almost anything and are suitable for borrowers who may need funds but at different points in time. 

However, compared to other loans and credits, a line of credit carries a lower interest and gives variable access to funds to users. Let’s know about the line of credit in detail and how it works.

What is a Line of Credit for Business?

A line of credit is an unsecured and ready source of funds, which can be used for business needs. The borrower can withdraw funds from the line of credit loan account either through bank transfer or line of credit cheques. Every borrower is allotted a credit limit for the loan term and can withdraw from that as many times as the borrower wants.

The loan withdrawn must be repaid with interest on the outstanding balance as per the terms of the lender and preset repayment schedule. During the line of credit facility, the borrower can also increase the credit limit based on their usage pattern and credit profile.

Different Types of Lines of Credit

Lines of credit are broadly classified into two categories:

#1: Secured Line of Credit

In this particular line of credit, you have to pledge your assets to get the line of credit loan for business. Failure to pay the amount borrowed, the lender will liquidate your assets to cover the losses. 

#2: Unsecured Line of Credit

Under this type, you don’t have to pledge collateral to open a line of credit loan account. The lender extends the facility based on your eligibility and their own policy. Compared to the secured line of credit, the lender charges a higher rate of interest for this category. 

The business line of credit is the most common type of line of credit availed by businesses to meet the business expenses of an ongoing nature such as working capital requirements, wage payments, inventory etc. It is offered to individuals with a high credit score, good credit history, with a favourable debt utilization ratio. 

How Does the Line of Credit Work?

LOC is a very flexible credit option for individuals and allows withdrawals according to the borrower’s requirements. Further, the interest is only levied on the amount borrowed, not on the entire credit limit, and there is no compulsion to use the whole line of credit.

Advantages of Line of Credit for Business.

  • Lower interest rates
  • High borrowing limit
  • Cost-effective
  • Flexible repayment option
  • Constant access to funds
  • Best for meeting long term project costs, temporary cash shortfalls and emergency

Allows for better planning, as you would have only borrowed the amount you need and wouldn’t give in to impulse purchases at a later point in time

Should You Apply for a Line of Credit?

Business LOC is an excellent financial tool but is not for everyone. It is suitable for only those who require constant access to funds due to an irregular or unpredictable set of requirements. Further, you need to have a good credit score to qualify for the facility and maintain the same. In the event of default, the lender may stop your business LOC facility, which will adversely affect your credit score.

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BUSINESS

Amazing Ways to Celebrate Rakhi for Long Distance Siblings

By on July 6, 2021
rakshabandhan-rakhi

Rakhi or Raksha Bandhan is one of the most celebrated festivals in the homes of every Indian. The festival is a symbol of everlasting and genuine love between brothers and sisters. While you stay with your siblings in the same house, silly fights and disagreements become unavoidable. However, there is a time when everyone needs to move ahead in their lives, resulting in miles of physical distance between the siblings. Yes, we are talking about dreadful long-distance relationships. And in such a situation, if you are wondering how to bring a smile to your siblings face, then order customised rakhi for the same. A customised gift always makes someone feel special and attached. 

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BUSINESS

6 Essential Tools Used During Roof Repair in Boston MA

By on June 27, 2021
Essential Tools Used During Roof Repair

There are several tools used during roof repair in Boston, MA. Professionals have a collection of heavy-duty tools they utilize to fix all kinds of roof issues.

However, despite various kinds of equipment, you’ll find these six tools in the box of every big roofing contractor. The list includes,

Fall Protection

Safety should be the first concern before starting any roofing project. Even, if you are repairing the roof yourself, it should be part of your tool kit. Make sure the fall protection you buy is light-weight that won’t restrict your movement.

Additionally, it allows you to hang your nail bag as well, which is a valuable feature. Furthermore, whenever you hire roofing contractors in Boston, make sure they use this tool for every worker they have. It ensures their safety while preventing any serious accidents on your property.

Shingle Remover

The removal of damaged or broken shingles is no easy task and requires certain precision. These specialized shingle remover slides between the shingles and helps to take them off without damaging the surface.

This tool has long handles that allow you to use it while standing, and allowing to insert force easily. No matter which roofing contractors in Boston, MA, you hire, this will be a must-have in their tool kit.

Straight Blade Knife

This heavy-duty blade is a part of every contractor’s tool kit. No matter the size of the roof contractor’s business, they will have this handy tool. Also, when the blades get dull, they can easily be replaced, making the job easy and quick during the repair.

Cordless Nailer

This equipment is ideal for quick repair jobs. It is easy to handle and can fire 2 nails in just a second. Furthermore, it has a side-loading canister that allows to quickly load the nail gun.

This feature comes in very handy for large projects of roof installation or repair. The roofing contractors in Peabody, MA, can use this heavy-duty tool to offer quick and safe services.

Hammer Tacker

Before installing a new roof, a felt sheet is rolled across the sheathing. This paper needs to be stapled down before the new shingles are installed, and this tool is the quickest way to do it. This feature will allow the contractors to install the paper in no time, so they can move on to doing more important tasks.

Air Compressor

When the contractor is running the roofing nailer, they will need some air, for sure. The contractors like Melo’s Construction make sure to use mid-size air compressors. They are lightweight and consume low power, unlike large-sized machines.

However, make sure the contractors avoid taking air compressors on the roof. It is extremely dangerous. When plugged in, the machine vibrates, which causes the air compressor to fall over.

Also, in some cases, taking someone else with them as well. Consequently, causes damage to the property as well as the health of the workers.

What Other Tools Roof Repair In Boston MA Use?

Along with these six essential tools, the roofing companies in Peabody, MA, uses several other tools as well. The list further includes hammer, pry bar, chalk box, tape measures, etc.

Read Also: Decorating the house with basement siding outside with your own hands

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BUSINESS

Find Out How Marketing Got Easier with Design Practices

By on June 18, 2021
marketing

Gone are those days when a dental specialist includes their dental office in a local directory and brings new patients.

Today, the patient can choose from several dental websites online by inputting search keywords. Your dental practice has to promote your services to your target patient consistently, and that means reaching out to prospective patients where they are and what features they are looking for in dental providers.

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