Year: 2015

Paying Off Credit Card Debt Could Be As Simple As Selling Your Annuity

    Finance Tips

Cash for a structured settlement

Credit card debt is no laughing matter for way too many Americans today, and if you’re like most people, you’d love nothing more than to pay off all those debts and put them in the past. It’s hard to figure out how to get this money in the first place, but if you happen to own an annuity settlement, then the money is actually already right under your nose!

Selling your annuity is a great way to get a lump sum of cash (which you already technically own, by the way) and finally get control over your money so that you can use it in a better way — on something like paying off your debts, for example!

Selling structured settlement annuity payments does not involve breaking your annuity contract and it’s 100% legal. In fact, the process even requires legal documents and a court visit to ensure that all parties involved are on the same page. You won’t receive the entire amount of money that’s sitting in your annuity account, but you’ll definitely receive more money than you would if you broke the contract. Furthermore, you won’t have to watch that money slowly dwindle because of regular maintenance fees. Once you sell your annuity and have control over the money, you’ll be able to pay off all that debt you’ve been smothered by for years.

If you’re still not sure whether selling your annuity is the right choice, consider these facts:

  • The average American household pays about $950 in interest every year.
  • The average American adults owes $3,761 in credit to a variety of lenders at any given time.
  • All in all, Americans owe a collective $11.91 trillion in debt payments.

You definitely aren’t the only one with credit card debt — but that doesn’t mean you have to live with it forever.

Selling Your Lotto Win for a Lump Sum

    Finance Tips

Lump sum versus annuity

Do you have a structured settlement with a large amount of money due to you? Perhaps you’ve won the lottery, or a lawsuit. You have plans. Maybe you want to quit your job and see the world. Create a college fund for your kids. Buy your dream house on the beach. Start a business. But if you wait for the annuity to be paid out over time, it may be 30 years before you see all your money. You can however decide to get cash for your settlement and discover pre settlement loan benefits.

What to do when you win the lottery

Once all the excitement has died down, you find that it is a long wait for your money. And if you choose to stay wth the annuity settlement, it will be thirty years before you have all the money that’s due to you. Thirty years is a long time in anyone’s life and your goals and needs will have changed by then. You need the money now while you have the vision and energy to achieve your goals.

Also keep in mind that the value of money depreciates over time due to routine inflation and 5 million dollars will be worth less thirty years from now. On the other hand, if you sell your lotto win for a lump sum, you can access all your money now when you need it, to move on with your plans.

Cash for structured settlement: how does it work?

If you decide to get cash for your settlement, you will be working with a direct funder that has built a relationship of trust over time with banks and other financial institutions. If you’re one of the more than 37,000 Americans who use money from structured settlements each year, you may want to consider the pre settlement loan benefits of selling your annuity.

One of the benefits of an “immediate” annuity is that normally you can begin receiving payments in around 30 days. The vast majority – 92% – of those who sold their structured settlements report that they are satisfied with their decision.

So if you decide now not to wait for your money but to sell your annuity, thirty years down the line you may look back and think it was the best choice you ever made.

Commercial Real Estate Over Time, It’s A Proven Winner

    Finance Tips

Commercial real estate sales

Whether it’s new properties built on spec or older sites vacated by previous owners, there’s always a wide variety of commercial property available for purchase. And many of the prospective buyers are seeing them strictly as investments, intending to hold the properties and hoping they appreciate enough in value over time to offset any costs that might be incurred during the period of ownership.

Strategies for finding and purchasing commercial real estate for sale can vary quite a bit, as significant changes in the market occur with regularity every five to seven years. But over time, investing in real estate has proven to be a reliable way to make money.

Real estate investment firms find it to be a consistently profitable business for those who make wise decisions, with annual returns ranging from 6% to 12%. Banks will typically lend 60 to 70% of the property value on commercial real estate for sale, so a down payment of at least 30% is required.

A Class A commercial building in a large city’s downtown area is classified as one that’s 250,000 square feet or larger. In the suburbs, the size is less clearly defined, but in general 50,000 and up is considered to be Class A.

If a corporation wishes to function as a real estate investment trust (REIT), it has to pay out 90% of its taxable profits as dividends on a continuing basis.

As you might imagine, New York is the world’s leading city for property investment, with about 7% of the total $788 billion market (as of June 2014).

In the first months of 2015, there had been ten consecutive quarters in which prospective investors had expressed growing interest in finding commercial real estate for sale.

This, of course, is a specialized area for investment, and there are pitfalls to avoid. Fortunately, expert advice is available for companies or individuals on how to buy commercial real estate.

Erase Debt by Selling Your Structured Payments

    Finance Tips

Lump sum lottery winnings

Playing the lottery is currently the most popular and widely practiced form of gambling in the United States. Maybe you buy a scratch off from time to time or maybe you are an avid power ball player. Whatever your game may be you need to be aware of what your options are when you win big. Many people don’t know that lottery winnings are not paid out in a lump sum as they are typically advertised. Instead, the lucky winner receives lottery winnings in a monthly payout for up to several years in a process known as a fixed annuity. As you can probably tell that isn’t what a big winner wants to hear. Selling fixed annuities is an option many winners are choosing so that they can actually get a lottery lump sum payout. Here are a few things people do after selling fixed annuities:

1. Pay Off Huge Debts – In February 2015 alone there was a daily average of 3,422 bankruptcy filings in the United States. That statistic is absolutely indicative of how many Americans are struggling financially. Selling fixed annuities in order to get a lump sum payout is a way to end your struggle with debt. Whether you are behind on your mortgage or drowning in credit card or medical debt, you can use your lump sum lottery winnings to get rid of it for good.

2. Invest – Often times individuals who choose to sell annuity payments will discuss their options with a financial adviser who can guide them. Financial advisers will sometimes recommend putting the money into certain types of bank accounts so that it is protected and grows interest, and others will recommend investing the money. Although investing your money is a risk, there are experts available who can give you their educated opinion on how to grow your money.

3. Travel – Do you have a certain country that you’ve always wanted to visit, but didn’t have the funds? If you decide to sell your fixed annuity payments and receive a lump sump payment for your lottery winnings this can be your chance! You may not win enough to quit your job forever, but with the right money management you can afford a great trip for a couple of weeks or longer and finally see parts of the world you’ve always dreamed about.

The average American adult owes nearly $4,000 in revolving credit to lenders right now. Don’t be a part of that statistic. If you win the lottery don’t settle for a fixed annuity that will only give you a small amount each month. Sell your structured settlements and get the money you deserve.

How to Choose Between a Lump Sum or Annuity?

    Finance Tips

Pre settlement loan rates

There are two ways to get “free” money in the United States: sue someone or win the lottery. Before everyone goes out suing people or spending their life savings on lottery tickets, it may be helpful to know how “free” that money really is.

The Real Lottery

Winning the Mega Millions would be a dream come true for many, but the 25% immediately withheld by the federal government is sure to wake some from that dream. An additional 6-9% is withheld off the top for state taxes as well. Rather than receive a lump sum, lottery winners receive an annuity; the Mega Millions starts with an initial payment followed by 29 annual payments that increase by 5% increments. Winners are then plagued by additional administrative, early withdrawal, and other fees if they violate certain stipulations.

What to Expect With a Structured Settlement

In many cases, civil cases will settle outside of court awarding the claimant with a structured settlement for damages. There are over $6 million paid out every year to fund new structured settlements, making the average structured settlement payout $324,000. Like the lottery however, the annuity settlement received is paid out over a number of years and protected with similar fees.

Choosing a Lump Sum or Annuity

Lottery winners and structured settlement holders have the option to sell their payments for a lump sum of cash, although selling a structured settlement or annuity can cost surrender charges totaling up to 10%. While it is abundantly clear that there is no way to get 100% of the pie, selling your annuity could be the best way to get the most of your money quickly. A study found that 92% of claimants who sold their structured settlement were pleased with their decision. Picking a lump sum or annuity is a decision that only you can make, but it is an option that will always be available to you.

Cash Management Solutions What Are They, And How Do They Work?

    Finance Tips

Currency sorting machine

When running a business ? especially a small business ? the issue that stands above all others is money. But you know as a business owner that money doesn?t simply concern what you make and the bottom line. There?s also the matter of physical currency, and how cash is managed on the most basic level. In fact, many people who shop at stores on a daily basis don?t know what happens to their cash once they spend it, or how their personal cheques are cashed. Cash management solutions are incredibly important, not only to business owners but to those trusting them with their money. They not only lead to more responsibility overall, but more efficiency.

What Does ?Cash Management Solutions? Mean?

When discussing cash management solutions, you?ll usually find yourself talking about things like cin sorters, coin and note recyclers, and cheque scanners, among many other things. These systems make organizing money and scanning cheques much simpler. Furthermore, these solutions take human error, for the most part, out of the equation. This ensures that your business is less at risk of employee mistakes that you could be held accountable for ? not to mention the fact that it minimizes the risk of a poor employee getting away with theft.

What Are The Advantages Of Using Retail Management Systems?

First thing?s first: what do these machines do? Well, there are plenty, and they all have different functions and purposes. A currency counter machine, for example, can count everything from stacks of banknotes to loose collections of coins. While counting coins by hand is time consuming, often requiring two or three counting sessions, you?re still susceptible to mistakes. Only a cash counting machine can allow for 100% accuracy. There are also high quality cheque scanners available, which can scan and electronically deposit cheques throughout the day. Another thing that a cash management system can accomplish is simpler deposits for bank tellers. As they can identify which bills were inserted ? rather than simply how many ? currency counters in modern automated teller systems can allow for deposits without envelopes.

What Issues Can Cash Management Systems Prevent, Besides Theft And Miscounting?

A major issue faced today by bankers and business owners alike is counterfeit cash. Counterfeit cash isn?t simply useless; it actually can get those who take it, even unknowingly, in legal trouble. One of the oldest crimes in history ? becoming a serious problem in the 19th century, when banks issues their own currency ? counterfeiting is still very common, and relatively simple for criminals to accomplish. By using currency counters, you can not only keep track of money but in some cases identify counterfeit money on the spot. The bill will be identified and then, hopefully, traced to the source. In using cash management systems that can spot counterfeit money, you?re not only saving yourself a headache, but helping the government catch criminals.

Thinking of Moving Your Businesss into Canadia? Do You Know the Diffferences in Payroll Regulations?

    Finance Tips

Payroll solutions for small business

A potential issue facing all small business owners is employee payroll processing, as it can be risky, complex, and expensive if mistakes happen. Business owners who manage employee payroll themselves have to total hours, perform gross-to-net calculations for each employee, calculate and deposit payroll taxes, and prepare and file tax returns accurately and on time, but when you use outsourced payroll solutions, you only have one report to approve and one bill to pay.

As a small businesses owner, you?ll benefit greatly by using an employee payroll service, HR services, and leaving employee benefits to a specialized company, so you can focus on your core business. Accounting and how to figure payroll taxes can be especially difficult for small business owners, who often have little experience bookkeeping, that?s why more than 85% of CPAs recommend that you employ the acumen of professional employee payroll services providers.

You?ll find that using an outsourced payroll service can save you time and money, particularly around tax season.

In addition to employee payroll service, a payroll provider can offer ESA and OHSA compliance, government remittances, and HR Management. HR management and employee payroll in Canada are different than in the U.S., because we have very different laws and regulations. When it comes to payroll processing in Canada, there are more than190 regulatory legislative requirements, that?s why it can be challenging for U.S. based companies to ascertain that they?re in compliance with Canadia when paying their Canadian staff.

There are many U.S. firms that are reticent to expand into Canada because of the jurisdictional differences between the two countries. Firms based in America can potentially make costly mistakes mismanaging their Canadian employee payroll by relying on spurious practices and misinformation. Hiring a PEO service in Canada will help you to avoid this. Plus, they?re aware that the Canadian Revenue Agency is focusing its efforts on enforcing employee payroll tax policies for small businesses in Canada, because small businesses have been classified as the greatest source of uncollected taxes.

Obviously, there?s a lot more to employee payroll management than just cutting cheques. So if you?re ready to expand into the Canadian market, consider hiring a company specializing in Canadian employer of record services. You?ll be glad you did.

Here’s How Selling a Structured Settlement Can Help You Take Care of Your Most Dire Cash Needs

    Finance Tips

Access your settlement cash

Everybody has random and unexpected cash needs that pop up from time to time, and not having the financial resources to meet these needs can lead to some serious consequences. If you’re the recipient of a structured settlement, you have the right to sell your fixed payments for a huge lump sum and face these urgent cash needs head-on.

There is a wide array of things that can happen on a daily basis that will cost you money, but the most common sources of urgent cash needs are medical problems and overdue rent. Selling your settlement will allow you to avoid hassling creditors and possible repossession of your most valuable assets. Here are just three of the ways that selling your structured settlement can get you out of a financial jam:

    Medical debt. Health issues know no schedule, and you need to be prepared if anything were to ever happen. About one in four people say they now owe more in medical debt than they have in their emergency fund, and this is a common problem that can set you back years. To avoid this harrowing fate, you have the option to sell your structured settlement and eliminate debt in one fell swoop. This will give you more freedom to live your life comfortably without a giant debt looming over your head.

    Rent/mortgage payments. Everybody needs extra cash, but some people truly need extra cash when threatened with eviction or foreclosure of their home. Over 40% of U.S. families spend more than they earn, and 27% have no savings at all, which makes this a disturbingly-common issue. When you access your settlement cash now, you can acquire the funds to pay for overdue rent and mortgage payments, as well as taking care of future payments depending on the size of your lump sum.

    Fast pre-settlement advances. If your settlement is still pending litigation, you have the option to receive a pre-settlement cash advance and take care of urgent cash needs until your case is resolved. Often times, settlement recipients are forced to miss work during their trial, which can leave you in debt upon resolving your case. To avoid this, you can sell all or a portion of your future settlement to take care of these cash needs.

Selling a structured settlement is is a fast and easy solution to a complicated problem. Don’t fall victim to financial distress; talk to a settlement expert and receive a huge lump sum to take care of these unforeseen expenses.

Five True Facts About Lottery Annuities

    Finance Tips

some of the moneyEveryone has dreamed of winning the lottery at some point in their lives, and why not? Winning the lottery can either solve all of your problems or spawn some entirely unforeseen problems of its own. Here are the top five reasons why the lottery system might not be all it is cracked up to be.

1. Taxes on Your Annuity 
Right off the bat, you lose 25% of your lottery annuity to federal taxes. As if this is not enough, state taxes can cost you an additional 10%. Some annuities may even have yearly tax fees, costing you even more money.

2. Annual Upkeep Fees 
The threat of annual tax fees is only increased when one has to consider annual upkeep fees. Annual fees for your annuity can reach as much as 3% of your total investment. Some annuities charge penalties reach 6 or 7% within the first seven years; meaning that money is lost every year you wait.

3. Subject to Early Withdrawal Fees 
Waiting might just be the only thing you can do, as many annuities are specially set up to hit you with early withdrawal fees. If you withdraw the money before a certain length of time, or in some cases before the age of 59½, you will be subject to taxes plus an additional 10% early withdrawal penalty fee.

4. Lottery Annuity Payment Schedule 
The most important part of an annuity is the money of course. The Mega Millions starts out with an initial payment followed by 29 annual lottery payments that increase every year by 5%. This means that a typical Mega Millions jackpot of $50 million would start with an initial payment of over $750,000 and future annual payments that would nearly reach $3.1 million dollars.

5. Love and Loss 
Despite being entitled to more money than most people see in their entire lives, nearly half of lotto workers continue to work at their old job. Whether they will $500 million or just $1 million, nearly 70% of lotto winners will lose or spend all of their money in five years or less.

Still encouraged to go for the lottery? Many people have bypassed the unnecessary fees associated with annuity settlements by selling lottery payments to trusted companies who will continue to collect the cash after giving you a lump sum. Although you’ll never beat the lottery, at least you can find a way to still come out ahead.

How to Receive Cash for Annuity Payments

    Finance Tips

dollar paper money in bag over concreteWinning a lottery annuity is often the subject of a great story, but rarely happens in real life, right? The truth is, lottery winners are living and working along side of us; chances are you know one. So why are these hidden millionaires not driving yachts or sipping champagne? Here are three hidden truths that the lotto business doesn’t want you to find out.

Taxes 
To put it mildly, lottery taxes are brutal. The government will instantaneously withhold around 25% of jackpot winnings for federal taxes, plus an additional amount for state taxes too. These heavy taxes significantly cut down on your winnings, which may be why nearly half of lottery winners continue to work even after receiving annuity lottery payments.

Hidden Fees 
Unfortunately the taxes are only the beginning of what can be a lengthy process of fees and restrictions. Many annuities have hidden fees that are enacted once you try to make a withdrawal; if you make a withdrawal within the first five to seven years you may surrender charges of up to 7% of your investment or more. In some cases, withdrawing from particular annuities before the age of 59½ can result in additional taxes plus a 10% early-withdrawal penalty. Just maintaining a variable annuity can cost $20 or $30 per year in maintenance fees — those millions don’t look as attractive as they used to.

Payouts 
Getting money is the only reason people really play the lottery anyways, right? Unfortunately a lump sum lottery payout is not going to happen, so you’ll have to receive yearly payments. Some annuities come with options for payments, including payments over a specified number of years ore payments that continue for as long as you or a spouse are still alive. A lottery annuity, such as the Mega Millions is paid out in one immediate payment followed by 29 annual payments that each increase by 5% every year. While some are happy to sit back and collect, some people want to get cash for annuity payments as quickly as they can to pay bills and come out ahead. In order to get cash for annuity payments, you’ll have to find a specialized buyer who will continue to collect on your annuity while giving you a certain amount of money in a lump sum. Selling your annuity may just be the best way to get the most out of your lottery payout.