Short Course on – Covering The Basics

Benefits Of Buying Used Cars

Other than your home, a car may be the most expensive asset one ever buys throughout their life. However, it does not have to be, now that there is the option of purchasing used cars as opposed to new ones. When a lot of people think about used cars, they picture rusting vehicles with prices that are almost giveaways. This, however, is an inaccurate picture, as there is a lot more to used cars than most people know. Today, you can find used cars that look almost new, the only differentiating factor between the two being the price. When given a chance to choose between a new car or a used one, the most logical option is going for the used one. In this article, we will be looking at some of the reasons why buying used cars is a better choice.

The first and most important benefit of going for used cars is that they are cheaper. When you compare a new car and a used car, you find that used cars are less expensive than the new ones. You can save a lot by opting for used rather than new. Some cars are even sold at half the price of the new ones. When given such an opportunity to save, you should take advantage of it. However, you need to ensure that the car you buy is in excellent condition because the quality is more important than savings. Inspect the vehicle you are about to buy thoroughly before you decide to pay for it. If your car dealer allows it, take it for a test drive to get a general feel of the vehicle. If the car is in good condition, there is no reason to let this opportunity pass.

Secondly, you get to avoid some of the fees charged by car dealerships when you opt for a used car rather than a new one. You find most dealers imposing fees such as processing fees, advertising fees, preparation fees, and many more. In most cases, these fees are directly related to the price of the car you are about to buy, which is why you find them being higher in new cars than in used vehicles. Buying a used car will help you avoid or lower many of the hidden fees charged by dealers.

There are also depreciation benefits to buying a used car. Used cars depreciate at a slower rate than new cars. Most new cars decrease in value by almost half of their price during the first year. You do not have to worry about this when you buy a used car. You also avoid mental depreciation when you opt for a used car as opposed to a new one. When most people purchase new vehicles, they are anxious about everything to do with the car. You find yourself unable to concentrate on a lot of things because you are afraid you parked wrong or may have done something to jeopardize the quality of your car. If you have already made up your decision about getting a used car, look for a good car dealer. The right car dealer should be willing to help you with financing if you are short on cash. When choosing a dealer, go for one who stocks a lot of makes and models from which you are to choose to avoid ending up with a car that you do not want.

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Strategies for Establishing the Best Healthcare Startups

Establishing a functional business is always a challenge for various entrepreneurs especially when you are a doctor and want to develop your private practice. The best way to excel with your Healthcare practice startup is to understand some of the details involved in the process and the article highlights some of the top considerations.

When you are setting a plan for a business health care practice startup, you will already know your target audience, and the location should be ideal for them. Patients are likely to drive for more than 30 minutes to a private clinic as long as it offers the best services and amenities such as the parking lot and you should factor in such details.

If you want to avoid most confusion associated with running a business, it is mandatory to have a business plan for healthcare practice startup. When you have a well-crafted business plan, you will be sure to include most of the details such as the rate of competition, target market and marketing techniques and the document can also help you secure a loan.

The medical center should have a team of various experts such as oncologists and physical therapist. The hospital will also have various departments to take care of insurance, hiring and marketing and having a perfect practice startup team can guarantee success.

Most times, you will lack sufficient capital to run your health business, and you should include it in your planning so that you know how to follow up with the financiers. You should start researching for some of the best places where you can easily qualify for business loans.

When you are establishing your Healthcare practice startup, you should ensure that you have the right documents such as the insurances. When most of your clients realize that you have a vast network with most of the insurance companies, they are likely to consider your services. Researching and understanding some of the authorities to register with can ensure that you acquire valid licenses and also operate a legal entity within your area.

Good medical practice needs to have a welcoming and knowledgeable staff to ensure that everything falls in place. When you are starting, it is essential to know some of the critical staffs to work with such as the medical assistant, office manager, and insurance claims officer.

If you want to be among the top-rated healthcare business in your area, then you should ensure that you invest in the right tools of management. Identifying some of the perfect computer system for your Healthcare practice star up and also involving your staffs to lay down the entire structures and policies can ensure that you have a working system.

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Offshore Internet Banking Advantages and Disadvantages

The topic of offshore internet banking is a hot one and one that is increasingly growing in popularity not only within the consumer banking community, but also the business or corporate banking sector.

The beauty of offshore online banking is that in addition to enabling you to conduct banking activities allowed by traditional and local brick and mortar businesses, it allows you more variety and flexibility in terms of your banking needs. For example, if you travel often, offshore online banking gives you the flexibility to conduct business on to go from anywhere, while ensuring that you have access to the type of currency if you need at a time you need it.

Having said that, not all banks offer online or internet banking services as this service costs the banks a significant amount of money. Programming sophisticated and secure systems require the effort of several full time computer engineers, full security and compliance departments, as well as heavy overhead to support the service on an ongoing basis.

Because there are so many variables involved in offering this service, offshore internet banking services vary from one financial institution to another. Some have better systems while others have work to do. A lot of this is predicated on the resources the bank has dedicated to this initiative, both in terms of quantity and quality.

Opening an Offshore Bank Account

Before diving further into this topic, I want to clarify that engaging in offshore internet banking is not about evading taxes. It is about mitigating risk of capital loss due to no fault of your own. So when considering a foreign jurisdiction in which to establish an offshore bank account, consider one that is politically stable and financially strong. In addition, it helps to select a jurisdiction that pays an attractive interest rate and has low to no income tax. Some of the most preferred jurisdictions over the years have been Switzerland, Cayman Islands, Singapore, Hong Kong and the United Arab Emirates (UAE).

Opening a personal bank account is usually a very personal activity. With offshore internet banking however, there are ways you can get started remotely without having to show up to the bank’s local office, saving a ton of time, money and mainly frustration.

One such way is by visiting a local bank’s branch in your domicile state, or home country. Many big banks that offer internet banking have a multi-national presence. Chances are good that your selected bank has a local branch near where you live, despite being headquartered in another offshore jurisdiction.

In other cases, there are international banks that may not have local branches near where you live, but are willing and able to establish an offshore bank account for you through email, snail mail, fax and telephone. There are usually a set of documents required by banks in order to execute this process. Therefore you can still open a foreign bank account with an offshore bank without having to leave your country, but it may come with a little more effort, and sometimes the struggle involved in communicating with someone overseas.

The Advantages of Offshore Internet Banking

Here are some advantages of offshore internet banking that you should know about.

Protection from sovereign risk – as mention already above, parking funds in foreign bank accounts mitigates the risk of loss of capital resulting from freeze or confiscation of funds by Governments without any fault of your own. This risk is less of a concern in a developed economy with a solid banking infrastructure such as the United States, but it is nonetheless an inherent risk that exists.

Tax benefits – many offshore jurisdictions have low to no income tax implications on interest income, or income from business activities.

Higher Interest Rates – because many offshore banks operate with low costs, they can afford to offer higher interest rates compared to larger multi-national names. In fact, in developed economies like in Europe and North America, regulatory compliance requirements is seen by many as form of taxation on banks, thereby increasing overhead costs and lowering interest rates.

On Demand Access to Statements – offshore internet banking gives you instant access to your statements where you can view your activities on a real time basis. This includes past and pending deposits and withdrawals. You can therefore access your account balance at anytime.

Money Management – with offshore internet banking you can transfer funds between accounts across the globe instantly. Offshore banks have inventories of various currencies and can help you fulfill banking transactions in multiple countries. You can schedule automatic payments to vendors to release automatically.

There are several other advantages to offshore internet banking. You can open offshore trading accounts and establish offshore brokerage accounts to conduct trading and investment activity (there can be tax advantages to this). Conducting transactions online is not only mostly free, but also very efficient. Transaction time online is simply much less. You can also have streams of income potentially directly deposited straight into your offshore online bank account.

From a personal finance perspective, downloading banking activity from your offshore online bank account is easy and can be done instantly. Most online banking platforms are designed to feed information into financial or personal accounting software or to spreadsheets like Excel. Individuals can save a significant amount on accountant fees just by utilizing this feature. Not to mention more intimate knowledge and management of their own finances.

For those looking for anonymity, offshore online bank accounts also allow you to conduct banking anonymously as per bank secrecy guidelines.

The Disadvantages of Offshore Internet Banking

Merely establishing an offshore bank account can be a reason for the Government to put more focus on your activities. After all, many use offshore internet banking as a mechanism to conduct illegal activity and evade taxes. Some specific disadvantages of offshore internet banking as a result of conducting business through foreign bank accounts are the following:

Knowledge of Internet – There is a certain level of internet savvy required to be able to navigate your way through offshore internet banking platforms to ensure you are getting exactly what you want. This is a big reason why some elderly shy away from conducting banking online.

Deposit Timeline – Because many banks do not have the technology to be able to collect deposits remotely, you may have difficulty depositing all your proceeds. While many banks have developed electronic scanning technology, others have yet to catch up. There is no consistency to say the least.

Security / Fraud Implications – because banking is conducted online, offshore internet banking exposes you to the risk of network intrusion or breach. Because information is transferred electronically and stored in various databases, breaches can cause private and sensitive information to leak out into the wrong hands. But then again, this is no different than losing your check book if compared to traditional brick and mortar banking.

Spam Mail – offshore online banking also means that you will receive emails from the foreign bank you have your offshore bank accounts with. Internet predators recognize this as an opportunity for phishing, or fish for private and sensitive information. Many times you may see an email in your inbox from what seems like your foreign banking institution. However it is not. These are phishing emails hoping for you to login and enter your personal information such as login and password.

TIPS: Here are a few tips to avoid falling for phishing scams. First, when you receive an email from your bank, call them to verify that they sent the email. Second, instead of opening the email they sent you, visit the bank’s website directly and see if you can conduct what’s asked of you on their site by you logging in directly rather than clicking a login link in an email message.

Third, if you were to open the email and click on any link in it for whatever reason, once the link takes you to a website where you are required to enter personal information, look for security symbols such as an https URL address or a padlock on the lower right hand side corner of the web browser. There are other security measures as well that can be visible spotted. Read online for more on this topic.

Financial Security – some offshore bank locations are not very financially secure or stable. For example, during the global economic crisis of 2008, many savers lost money parked in offshore bank accounts in some destinations such as Iceland. I don’t mean to scare you by any means as this situation is rare, and in most cases those who suffer losses are compensated in some way over time. However, know that this inherent risk exists. Always look for deposit insurance. The bigger the allowance the better.

Credibility by Association – as I’ve already mentioned, offshore internet banking has negative connotations attached to it, often associated with money laundering, use of illegal monies, untaxed monies and support of illegal causes. Offshore bank accounts at times are tied to crime rings and terrorists. What does this mean for you? Although you may engage in offshore banking legally and legitimately, understand that there will be closer scrutiny over you by the Governments.

Access Restrictions – offshore banks are in destinations far away from you, therefore more difficult and expensive to access. In many countries, communication in person is preferred to communicating over phone, email and snail mail, therefore internet banking can get a bit difficult and frustrating. I see this trend slowly changing with banks understanding the need to communicate at all levels and mediums to satisfy a global audience.

Expensive – offshore internet banking is usually more expensive to set up and administer and thus more accessible and feasible for those more affluent or high income earners. It’s not so much that it is expensive to open a foreign bank account. It is not. However, many times you will need to go through a firm that specializes in helping expatriates establish and manage foreign bank accounts. All these activities cost money.

Internet banking today is very convenient and is accessible to almost everyone. For the average individual it can be a great offshore tax planning tool to add to the mix. For those that travel, foreign internet banking can provide all sorts of convenience, allowing one to transact anywhere and with anyone. So if you liked what you read about offshore online banking, I highly recommend you look into it further to see how it can help you meet your objectives.

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