Outsource Your Company’s HR Activities With a Professional Employer Organization

August 25, 2015 Finance Tips

Many shepayrolledge.com/blog/bid/372089/Where-to-Find-Professional-Employer-Organizations-PEOs-in-Canada” Title=”Find more information regarding Choosing a peo in canada”>mall companies rely on Professional Employer Organization (PEO) as a liaison between the company’s employees and management. PEOs are identified as a co-employer, and can solve internal issues in a company such as human resource functions, payroll management, filing taxes, and providing employees with benefits. Businesses of all kinds can benefit from PEO services, but many business owners don’t know what kind of advantages they can get from hiring a PEO for their business.

PEOs are known as co-employers, which means that they share the employer responsibilities of a company. When a business enters into a PEO contract, the employees of the company become employers of the PEO. Once the PEO has enough contracts, they pool the small businesses together in order to get better prices on benefits such as health insurance, unemployment, and workers compensation.

PEOs provide your employees with access to premium, Fortune 500 benefit packages. PEO companies will also take on HR responsibilities and payroll activities, saving your company time to focus on business. This includes conducting interviews, preparing employee policy, and the creation of an employee handbook.

Professional Employer Organizations offer complete HR business management services, along with other complicated services that many business owners have difficulty handling on their own. Despite the obvious benefits, there are a few Professional Employer Organization disadvantages. Some organizations choose to opt out of a PEO in order to remain control of their benefit plans, and other risks. Hiring a PEO can also blur the line of employer responsibilities when a mistake is made. When choosing whether or not to outsource your HR responsibilities, you must makes sure you do extensive research before choosing the right option for the needs of your company.

3 Reasons for Defendants to Choose Structured Settlement Annuity

August 21, 2015 Finance Tips

A Structured Settlement Annuity (SSA) is a tax-free, annual payment of money usually resulting from a lawsuit or insurance claim. Every settlement is different and structured to accommodate the specific needs of the individuals involved in said case. While people usually view these in the context of the plaintiff (those receiving payments), there are structured settlement annuity benefits to the defendants as well. Here are three reasons it could very well be in the best interest of both parties to come to an annuity settlement.

1.) Success Rate: Perhaps un-success rate would be more accurate. The plaintiff is victorious in the majority of cases that go to trial (over 90%). For that reason most people on the defense side elect to try and settle outside of court (80-92% of cases by some estimates). Obviously you will be losing in the sense that you’ll have to pay something, but the total amount will often times be much less than if you leave it up to a judge/jury to award damages. Even if the plaintiff wants a lump sum most will be open to the idea because there are plenty of businesses that they can get cash for settlements almost immediately.

2.) Reduce Cost: Lawsuits can be expensive. On average, employees that win a case against an employer will receive $150,000. Besides the outright cost of the payout though there are court fees, lawyer costs, and other expenses associated with going to trial. In the end it is usually a more cost-effective option to cut your losses from the jump and negotiate a fair Structured Settlement Annuity.

3.) Insurance: Perhaps the most important reason to consider an SSA is the insurance implications. Depending on the situation and your provider they will sometimes cover the annuity payments for you. Obviously this will have an affect on your rates and premiums, but it will save you from having to come up with the finances on your own, or having to borrow from a bank at high interest rates.

Overall a Structured Settlement Annuity can be beneficial to all parties involved. It should be one of the first options you look for if you’re caught on the wrong end of something like a personal injury lawsuit because of the above mentioned reasons, as well as others left out.

Are Structured Settlements Working Out For You? Here’s Another Way To Get Things Going

August 14, 2015 Finance Tips

Life is a series of ups and downs, so when things start plummeting, it’s your responsibility to take action and make a change. Don’t hesitate, waiting around for things to get better; do what you have to do to make things better.
Some might say this kind of direct ambition is easier to claim than it is to apply, but that doesn’t have to be the case with you. Seek professional guidance by setting up a consultation with a financial expert and see what kind of options you have to get money now…

For example, let’s say you’re down and out because you suffered an accident. Even if you file a lawsuit, while you wait for the judge’s decision, you’ll have plenty of expenses to tend to. Markedly, even if you manage to win the lawsuit, your everyday cost of living won’t just go away.

At this point, what are you going to do?

Even if you win the lawsuit, it’s more than likely that you’ll be paid with a structured settlement. By and large, one good thing about a structured settlement is that it can save you 25 to 35% in federal and state taxes; usually, interest income is subject to tax, but that’s based on your tax bracket. Nonetheless, a structured settlement won’t allow you full access to your designated funds.

For those who don’t know, a structured settlement is when you are rewarded money, which is the settlement, but the money is distributed in arbitrary, structured increments, depending on what the judge decides. Accordingly, about 80 to 92% of cases settle outright; however, for those processed by trial, over 90% are won by the person who pursued the suit.

Understandably, with a structured settlement, it can be frustrating to have funds that are legally yours, but they’re also legally inaccessible. However, what if there was a loophole to access these funds?

Luckily for you, there is! You can consult with a finance company and discuss getting cash for structured settlement funds. The obvious plus of you getting cash for structured settlement funds is that your money will be immediately available. Naturally, once you have access to your funds, then you can pay off whatever life expenses are pending.

If you’re looking into getting cash for structured settlement funds, there are services ready to help you sell your structured settlements to help you get settlement cash now, you just have to find them!

After you receive the cash for your structured settlement, financial freedom will be yours…

Why wait?

3 Common Reasons for Selling Your Annuity

August 12, 2015 Finance Tips

Every case is different, but there is a good chance that you need cash now if you are looking into selling your annuity. The motivation for making this decision can vary from person to person, but there’s never a shortage of reasons for people to need settlement cash now more than they may need it in the future.

If you’re considering selling your annuity, you probably have a good reason to do so. Here are three common reasons that people take advantage of this opportunity, and the benefits of receiving huge lump sums of your well-deserved money:

You lost your job.

Your mortgage payments have gone up.

annuity

You need a vacation.

Talk to a professional and figure out how to make your annuity work for you, instead of the other way around. It’s your money and your future, and you should decide what happens to it.

Should You be Investing?

August 6, 2015 Finance Tips

An Untapped Resource

Many adults have an ingrained distrust of the stock market. These fears may be largely unfounded and based only on short term investments. If investors are willing to stay with stocks and not sell for a long period of time, such as 15 years, have generally been rewarded with significant positive returns. In addition, historically stocks have performed at an annual return rate of 10%, high above the inflation rate of 3.2 percent. Despite this long term gain, only half of adults say that they or their spouse own any stocks at all, either through funds or individually managed. The group generally accepted as the middle class, with incomes between $30,000 and $75,000, have only 55% of their members investing in the market. Society’s natural inclination to look only at the negative, such as the great depression or the recent recession, may be preventing a full half of us from getting the full value out of our money. We don’t have to learn how to invest ourselves and go it on our own. There are many companies that can help you become accustomed to investing your money.

How Do I Get Started?

The average person is probably not confident in their knowledge of the stock market and other financial matters, and this could explain the reluctance to invest. In these situations, shareholder services can be extremely valuable. Also known as the investor relations industry, shareholder communications services are companies that can invest your money for you. You still get the advantages of being in the stock market, such as dividends and long term financial gain, while keeping your time and saving yourself much worry and frustration. Depending on what type of investor relations firm you are doing business with, they may charge a monthly or annual fee for the service. This rate can vary greatly, so it pays to shop around through the different issuer services. After all, it is your money. Choose to work with shareholder services that you trust.

Questions or Comments? Let us know below!

Does Your Small Business Need a Loan?

July 31, 2015 Finance Tips

The good news is that the economic Recession is on its way out the door.

The bad news is that creditors — primarily banks — are very leery of providing small business loans because these lending options were a significant factor in the crumbling economy back in 2008.

The fact is, now small businesses have fewer options when it comes to small business lending and small business owners have had to get a little more creative than before in order to come up with enough funding for their operations.

So if you’re running a small business now, how can you get the funding you need?

One option is to visit your local bank or credit union and apply for small business loans through that financial institution — but more business owners have realized that these working capital loans for small businesses aren’t always the most efficient option when they come from banks.

Another option is to work out the problems with family and friends, borrowing what’s needed to keep your business running and paying them back on a timeline. But as everyone knows, this probably isn’t the most professional way to get a small business loan nor does it do much for your personal relationships.

A third option is to talk with the funding experts at an independent third party small business lending company. These firms are well aware of the problems that small businesses face — whether the business is 15 years old or just opened up — and they know how difficult it can be to stay financially stable.

Having a strong work ethic and business model is often a main selling point for startups looking for funding, but for small businesses that have already been operating for some time, it can get a little embarrassing to admit that you need more funding now. With a lending service, you don’t have to worry about this awkward conversation and you don’t have to worry about an uncomfortable explanation as to why your business is struggling now.

Every business has its ups and downs — should a small business suffer just because traditional lending opportunities aren’t as accessible?

Three Reasons You May Not Be Getting the Most From Your Lottery Winnings

July 30, 2015 Finance Tips

One of life’s greatest joys, a fantasy held by many, is the idea of winning big in the lottery. How many of us have used a ‘winning the lottery’ scheme as a wistful notion for running from all our financial problems? Indeed, it seems like it would be a dream come true but the truth of what it’s like to win the lottery is far from ideal. A downside that not many people talk about are lottery payments, the concept of getting cash in structured settlement payments rather than at once in a lump sum. There is an answer in the form of selling a structured settlement, but how and why would such an option help?

1) Selling Lottery Payments Saves Money

It may not come as a huge surprise, but there are lots of ways in which a lottery winner can lose their total earnings from following by the preexisting structured settlements. For one, the lottery has to withhold about 25% for federal tax, depending on your situation and where you live, and another 6 to 9% for state taxes. This already takes out a big of your total earnings, but the practice of receiving the money in small lottery payments can lead to blowing the amount on small expenses at once rather than a potentially big, worthwhile investment like a house or college.

2) Selling Your Annuity Insures a Quicker Payoff

There are few things slower than the course of lottery payments. Mega Millions issues one immediate payment, followed by 29 annual payments that increase by 5%. While an increase is never bad, waiting 30 years for a payoff isn’t exactly the lottery winning ideal that most people fantasize about. The annuity payout schedule for Powerball follows this same 30 year pattern rather than offering a lottery lump sum payout. Even for a big amount of money, who wants to wait that long?

3) Selling Lottery Payments Is a Decision You’ll Feel Confident About

You would not be alone at all in choosing to sell off your lottery payments to get cash for annuity now, rather than waiting forever. By 2013 there were 34,800,000 individual deferred annuity contracts, the total of which exceeded $2,580,000,000 in all. It’s perhaps no surprise then that 92% of lottery winners that sell their payments end up being happy with their decision to do so. This is clearly a choice that many people in the same situation have made to their own benefit.

If you’re wanting more from your lottery winnings than what is being offered to you by the lottery itself, making the choice to sell your structured settlements might be just the answer you’re looking for.

Sell Your Lottery Annity and Get the Money You Deserve Fast!

July 30, 2015 Finance Tips

So you won big in the lottery but don’t want to wait for your lottery annuity to pay out. By selling your lottery annuity, you can put cash directly in your pocket without having to worry if you will be getting all of your money back.

The Temptation of the Lottery
Now, more than ever are Americans struggling with finances with 64 million people (35% of the population) admitting that they had trouble paying bills or were stuck paying off medical debt as of 2014. The average American home has around 13 debit and credit cards between its members and nearly half of U.S. families spend more than they earn every year. Between 2014 and 2015 alone, student debt rose from $1.2 trillion nationally, to $1.3 trillion dollars. Between mortgages, medical expenses, and student loans, Americans end up paying an average of $950 per year. So its no wonder why millions of Americans are lining up to buy a lottery ticket for a chance at wishing the debt away with a structured settlement annuity.

What to Do if You Win?
So how does one receive lottery winnings? Typically once the right people have been alerted they will set you up with an annuity settlement that will pay out a percentage of your winnings every month for a set number of years (usually 25 years) or payments until death. The problem with this model is that no one knows how long they have and no one knows how much longer they can live with financial problems. One option you have is to sell your annuity for cash. Generally, you won’t get as much back as you would for waiting until the annuity pays out, but that is money that you could have as cash in your pocket when you need it.

The Best Way to Utilize Currency Scanners

July 29, 2015 Finance Tips

The Best Way to Utilize Currency Scanners

Currency scanners can improve your business, while increasing the overall efficiently of you and your employees as well. Currency scanners provide cash management solutions to all businesses in a variety of industries. From banks to small businesses run by one person, if you are exchanging money on a regular basis with customers, currency scanners can greatly benefit you. Various types of high quality scanners are available to suit your needs, which include:

Cash Counters
Cheque Scanners
Counterfeit Detector Machines

Cash counters

If you own your own business or transfer money with day to day operations, cash counting machines allows your company to ensure 100% accuracy when money is exchanging hands. Many counting machines can count thousands of bills under a minute. This lets you to focus on the customer, or other aspects of the job.

Cheque Scanners

High quality scanners save on operating costs while making funds available in a more timely manner. The company does not have to be a bank to utilize cheque scanners on a daily basis. The scanner can be used for payments from customers or refunds on merchandise.Cheque scanners also allow you to scan and deposit cheques electronically throughout the day, so you do not have to do it all at once. No matter what type of business they are used for, the cheque scanners will save you time by not having to go to the bank to deposit money.

Counterfeit Detector Machines

Counterfeit money is everywhere, and there is no avoiding it. If your business happens to take a counterfeit bill, it can be a loss for your company. A currency-counting machine counts both stacks of banknotes or loose collections of coins, making it useful for all types of currency. A counterfeit detector machine comes with watermark detection, ultraviolet detection, and micro printing magnification. These qualities eliminate the need to inspect every bill or worry about bad money circulating in your business.

The best way to utilize cash scanners is to use it ever day in your business. Cash counters will free up your hands, cheque scanners will save you from going to the bank, and a counterfeit detector machine will protect your business assets. You will be surprised how much time you save by using high quality scanners in your business.

3 Things Businesses Can Do To Enhance Credit Card Security

July 24, 2015 Finance Tips

With around 167 million adults owning at least one credit card, most businesses that deal with customer payments use technology that allows customers to pay via their credit card. Often, the convenience of being able to pay by credit card is highly valued by customers. This convenience does not, however, come without risk. A few years ago in 2013, 60% of organizations reported being exposed to payment fraud or unsuccessful attempts at payment fraud were made. There are several ways to minimize the inherent risks of accepting credit card payments at your business or organization. Here is a short list with some ways businesses can make credit card and payment transactions more secure for everyone involved.

#1. Strategic ATM Placement

One way to add convenience for customers is by having an ATM machine on your premises. For added security, it is important to make sure ATM placement is in an accessible and visible location. Because it is stocked with cash, it is important that professionals are securely handling the ATM placement services including armored car cash services to the funds are transported efficiently and effectively on an ongoing basis. Often, one of the perks of having an ATM from the business’s perspective is getting a percentage of the transaction costs paid by customers.

#2. Using EMV Solutions

One of the best technological advancements regarding credit card security is the creation of EMV enabled cards and devices. If businesses use an EMV device, it gives them the power to read a smart chip which is embedded into the credit card of a customer. This reduces the possibility of credit card fraud, making it a valuable asset for businesses. Another benefit is the automatic verification of payment cards so a fraudulent card will not go undetected until it’s too late. In the United States alone, 42% of people report experiencing credit card fraud sometime within the last five years. Credit card fraud is both inconvenient and costly so many businesses like to take advantage of technology that allows for enhanced security when accepting payment from credit cards.

#3. Ensuring Your Business Follows Regulations For PCI Compliance

PCI compliance regulations were designed in order to make sure businesses that process credit cards store the data appropriately and securely. Because the size of your business determines the actual PCI regulations that you will be required to follow, using PCI compliant merchant services can help make sure your business is dealing with sensitive customer information according to the regulations that are applicable to your situation. One of the vital components of PCI compliance is to make sure you are not storing any credit card data that you do not need. Secure data management and destruction will help you keep this information from falling into the wrong hands.

Do you have questions or comments about this topic? Feel free to share your thoughts.

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Year: 2015