How to Use Home Loans Smartly for Tax Benefit Purposes – Useful Guide

Many of you apply for a home loan while buying your dream house. We can see that the home loan comes with multiple tax benefits, which can reduce your yearly income tax significantly. So, it is always advised, even if you have enough ready capital it is better to buy a house with a home loan. In this write-up, the different ways by which the home loan can be smartly used for tax benefits will be discussed.

Deduction for interest paid

The EMI which you pay for the home loan has two components, the interest payment, and the principal repayment. The interest component which you pay in your EMI can be claimed as a deduction from your total income of that financial year up to a maximum value of Rs200000 under section 24B. But there are some conditions to avail this benefit. The first condition is the house should not be sold within 5 years of its possession. This deduction can only be claimed in a completed house. If your house or apartment is still under construction, you won’t be able to avail this benefit in your income tax.

If the property is not self-occupied then there is no maximum limit on the tax deduction for the interest paid on the loan. In this case, the entire amount of the interest paid can be claimed as a deduction.

Deduction on Principal Repayment

The principal portion of the EMI of your home loan, which is paid for that financial year, can also be claimed as a deduction under section 80C up to a maximum value of Rs 150000. But, the precondition to claim this benefit is the house property should not be sold within 5 years of possession. If you sell the house after claiming the deduction, then the benefit will be added back to your yearly income in the year selling the house. This benefit is given only when the construction of the house is complete and the completion certificate is awarded.

Deduction for First Time Home Buyers

If you are a first-time house buyer then you can claim some extra benefits in your income tax. Under section 80EE of income tax act, the first time home buyers are allowed a special deduction of maximum Rs 50000 from the annual income. This section 80EE was first introduced in India in the financial year 2013-14. Then, this deduction was not effective in 2015-16. Finally, section 80EE was reintroduced in 2016-17. There are two conditions to claim this benefit. Firstly, the home loan amount should be Rs 3500000 or less than that. Secondly, the value of the new house should not exceed Rs 5000000. It should be noted that at the time of sanction of the loan the owner should not have any other house in his name.

Deduction for Stamp Duty and Registration charges

There is also a deduction for the stamp duty and registration charges under section 80C. This deduction can only be claimed in the year of registration of the house. The maximum limit for this deduction is Rs 150000. This benefit is given to all the people who buy a new house, irrespective of whether they have taken a home loan or not.

Deduction for Joint Home Loan

If the home loan is jointly taken by two persons, then each of them can claim a deduction on their annual income under the section 80C. A deduction of Rs 200000 on the home loan interest and an additional sum of Rs 150000 on the repayment of the principal are allowed. This benefit can be claimed by each one of them on their individual tax return. They should also be the joint owner of the property. So, it can be seen that if the house is jointly owned by the family members, then they can claim larger tax benefit.

The above write-up was in brief, a few ways by which an individual can use his home loan for tax benefits

The Significance of Equity Sharing with your Team

Businesses that have teams which are talented and want them to stay longer to contribute in the growth of the company prefer to distribute equity shares among the employees so that they feel a sense of ownership in the company. Doing so is highly profitable for the company as well as the employees as this promotes growth in the company and helps in developing assets over the course of time.

Here are the significant reasons behind promoting equity sharing with your team. Read below to know more:

It helps in retaining the best talent

One of the major reasons behind sharing the equity with the executives is to retain them for a longer period of time. This is because with the equity shares comes the authority of ownership which gives the power to the investors to have a partnership in the firm. The major goal of this strategy is to have the stake in the company when its shares rise which would eventually benefit all. These days it has become common for the executives to own at least 7% to 10% of shares in the company.

Promotes growth in the company

As the team members of a company own stocks in the business, they feel a sense of ownership and would stick around for a longer period of time. This means that the employer would be able to take their help in achieving the goals of the business and thus this would eventually promote the growth of the company. So, if you are interested in making more money for a long-term, you should consider equity sharing in your team.

Imbibes the sense of ownership among the employees

Employees right at the bottom line of the organization to the ones at the top eventually get a share in the profit made by the company which imbibes a sense of ownership among everyone. In this way, you can achieve an alignment with the employees in an organization and make a profit at a much faster rate. Having a share in the equity eventually keeps the employees motivated for work and kindle their willingness to give their best to achieve the goals of the company.

There are two approaches to sharing equity with your team which are as follows:

  1. Direct Ownership

One of the major approaches to share the equity with people is to give those shares or equity in the business or on the other hand provided them with the opportunity to buy the stock from you which is also referred to as direct ownership. With this, you allow the employees to have access to the voting decisions in the company and get a share in the profit of the business.

  1. Providing them the stock appreciation right

Apart from the direct ownership, employees also get the chance to practice the stock appreciation right or SAR that is also referred to as the phantom stock. The idea behind this is that the employees do not have the power to own the stocks and the business still own them but you give them the power of stock appreciation. Thus when the company gains huge returns on the shares, the investors also get the benefit per share.

Both of these strategies come with their share of advantages and disadvantages and should be considered only after consulting a tax advisor who can guide you in taking the right decision.

At last, if you are interested in investing in the best people in the company and want the business to grow exponentially, giving the team a share in the equity finance is a great idea.…

Ways to Ensure Good Organization and Fewer Problems in Your Workplace

Who said operating a company is easy? No it isn’t, especially when you have to manage a large workforce. While they may be self-driven and great to work with, chances are; you may still face a few setbacks. And most times the major issue is inefficiency. So to balance between cutting costs and desirable performance, one should ensure all office procedures are streamlined to have the whole team functioning more competently. An Efficient workflow also rids you of problems that may compromise your company’s productivity.

So instead of worrying about how to secure an ACH business loan which you haven’t planned for, first discover a few tricks you can use to make business management much easier.

Ongoing Staff Training

You get it all wrong the moment you begin thinking you only need to train new workers. If you want to hit the big time, every worker should be on top of their game and show constant progress. Be sure to research and implement skill-specific training or hold webinars on topics like work ethics and individual productivity— whatever it is that works for your company.

Keep Track of Key Performance Indicators

Studies show that keeping track of performance indicators trigger quick progress. Sales agents who follow up every call end up selling more items and services. So if you don’t keep detailed records of your results, then spotting setbacks and bottlenecks becomes another problem.

Do away with Unnecessary Meetings

Meetings form the major time-waster in all workplaces. It’s one thing both you and your staff know but choose to ignore. So before scheduling the next meeting, mull over an easy way to have the matter addressed. For instance, using quick text message or email or maybe a spur-of-the-moment 3-minute meeting instead of a holding a full meeting. There’s no need to insist that everyone discontinues whatever they’re doing many times per month to attend meetings merely because they had been scheduled before.

In conclusion

The above are important steps if you want smoothly run a company. Some of them are not new to us, but we simply ignore them thinking (and hoping) that things will eventually pull up and get better. Why not try them out and find out what they can do for your business?

Author Bio

Business Funding expert, Nathan Hale, founded First American Merchant with his eyes set on helping the backbone of our country, small business owners. His passions include writing/producing music, and travel. First American Merchant is America’s Best ACH Business Loans Company, serving both traditional and high-risk Businesses…

Aluminum Fence, Easy Accessibility and Installation

The fencing that has lasted generations upon generations has made its way into the markets with a reputation unlike any other type of fence that is to be set up in the front of someone’s yard. The aluminum fencing fort myers fl is just this, and it has done customers the wonders that an aluminum fence obviously provides in comparison with the other materials that are offered to the public. Below are some of those details that elaborate on the features that an aluminum fence could provide to the customers satisfaction.

According to https://www.entrepreneur.com/businessideas/fencing-installations the fencing most other materials demand when it comes down to the expense column is about two thousand dollars up to ten thousand dollars per installation. This is nowhere near to the expenses that cover the installation of an aluminum fencing in someone’s yard. It is well below the two-thousand-dollar mark and is therefore the option for those who are looking to buy an affordable and reliable type of metal for their fencing needs. The thing about this type of fencing is its major advantage mostly comprises of the cost effectiveness of the purchase option in comparison to other such products which can range highly inside of the ten-thousand-dollar mark. The other advantages do not just include its low budget cost, but it’s high quality value and design as well.

The qualities of the fencing go beyond the confines of money because the aluminum fencing is also very durable as well when installed. In whatever condition the fence is going through, nothing can scratch, warp, rust, mildew, and age these precious fences that are able to last for several lifetimes at a time. The reason that they are superior to other such materials is because other steel and iron fences are withered by the extreme weather conditions that the aluminum fences are basically immune to. The list goes on when it comes to the benefits of using a fence made of pre-formed aluminum.

The durability of the material used when installing aluminum fences are not the singular reason that buying one of these is a smart idea. The lightweight nature of the material used in these fences are considerably lightweight in comparison to other metals and woods that are used when putting up fences. The lightweight nature and the pretty design of the fences are long lasting and are easy to carry around so that even if one would want to do all the work themselves, the lightweight structure of the furnishing would not hurt their back. It could be easily stated that the fences of aluminum are not just easy on the wallet but easy on the back as well.

In conclusion the act of protecting pets and kids from going out into the street to keeping unwanted intruders out of the perimeters of the owned land is invariably connected to having an aluminum fence that can last a long time and stand sting against severe weather conditions in order that these two purposes are consistently met.…

Incident Post Mortem Analyses in Improving Future Efficiency

Failure in the words of renowned business magnate Sir Richard Branson, “You don’t learn to walk by following rule. You learn by doing and by falling over.” is a paramount aspect of the learning and improvement process. This is what Incident Post-mortem analysis is about. Security service providers have not been left behind in this either. So how do they use the post-mortem analysis process turn their failures into opportunities for future success?

Also referred to as ‘Learning Review,’ ‘After Action Review,’ ‘Incident Review’ or ‘Root Cause Analysis,’ Post-mortem analysis involves assessment of previous incidents’ handling procedure from the point of receipt of the client’s complaint up to how the complaint was resolved. The details of the entire process of the resolution are assessed in minutes rather than hours to ensure a proper detailed review of the incident. Why do this anyway?

Post-mortem analysis processes are paramount in instilling focus in the officers involved in the resolution of the distress calls. They can act on the moment effectively without having to divert their attention to thinking about how to improve the process or assess the cause of the incident because these will be reviewed after the resolution of the incident at hand, click reference for more information. Best conducted when the incidents are still vivid to the officers, post-mortem analyses provide the chance to identify opportunities for improvement, which would otherwise be lost in the absence of such.

An in-depth view of how the analysis is to be conducted stresses the need to do a ‘Blameless post-mortem.’ This focuses more on how the errors and failures occurred rather than who in the response team was the causative agent of it. This aims at achieving a more truthful and objective analysis as the officers will be free of the fear of condemnation and punishment for the errors made. However, given the human blameful nature, a blame-aware analysis can be conducted but focus ought to be shifted towards actionable takeaways to be a productive process. So how is it actually conducted?

A detailed summary of the events including the severity of the situation, the client’s details (identification, location), the particulars of the response team called in to answer the call, and the procedure employed in fixing the problem at hand is obtained. A Root Cause Analysis is also conducted to understand further the chief cause of the client’s problem after which the steps taken to assess the situation and come up with a solution are indicated. Further analysis is also done with the steps as mentioned earlier to determine which steps were helpful in the situation vis-a-vis those that were detrimental to the process. Finally, learning lessons are drawn from the process, that is, the successes and failures accompanied by future recommendations to combat the failures.

The post-mortem analysis is a process that ought to be employed by all organizations for it guarantees success with constant improvement. It is paramount to learn from mistakes and thereby save an institution the costly frustration of recurring errors.

 …

How to Get Rid of Mice Problems in Your Home

If you have a mouse problem in your home, you know the difficulties of trying to get rid of the rodents on your own. This is because no sooner do you put up traps and catch mice, there are more coming in. If you are finding that you’re experiencing a major pest problem because of these rodents and the change of weather, it is time to look into professional mice extermination Fairfax VA services. A pest control company will come to your home, get rid of the pests that are there and ensure that you feel confident in the work that has been done for you. You will then feel comfortable living in the house without a mouse problem running rampant.

What to Expect and Why Get it Done

If you have never hired a pest control service, you might be wondering what you should even expect when hiring such an agency. For one, you’re going to find that you need to choose a good company that you can trust and that has lots of experience. You will then have the company come in and do a thorough examination of the house to see what the problem is and how to best take care of it. From that point on, the company will take care of the mouse problem for you and ensure that it is gone for good. You are going to want to hire such a company because living with mice can be unsanitary and problematic, especially if it is able to get much worse and the mice reproduce.

Why Hire the Pros

You might be tempted to try to get rid of the mouse problem on your own without the help of a pest company. The reason you should not do this on your own is because you may not be able to get rid of the entire infestation, especially if there is an area where the mice are coming in. Instead, hire the company to do the work for you and let them close off any gaps that they find to ensure that you feel confident in the work being done and to prevent any mice from coming back in when they are finally eradicated.

Now that you know the importance of hiring a pest control company, it is just a matter of figuring out who you should be hiring and when the best time is to get them into your home or apartment to do the job for you. Once you have the mouse problem under control, it is just a matter of figuring out what you can do with all of your time and know that you’re finally comfortable in your own house because the problem is no longer there. There are lots of different types of companies out there, so it is essential that you look into hiring the right one and figuring out how much it is going to cost if this is something you need help with right now.

Know Your Demographic

When it comes to business, there is perhaps one element of business more important than many others, and that is marketing. Marketing and advertising are a major part of businesses of all shapes and sizes, as it helps you get your new, small business the exposure it needs to succeed and acts as a way to get the news to your clients and customers of new products and services for more established businesses. It’s also, for the most successful businesses, the occasional reminder that “we’re still here.” Marketing is greatly important to the world of business and commerce. However, many of us might be lacking a fundamental area of marketing that might trump them all, and that’s knowing your demographic.

For example, you want to advertise to younger people. How do you get started? Well, you’ll want your ad to feature younger actors, of course, for starters. What next? Well, it couldn’t hurt to have some young women sporting some trendy clothing from a retailer like A’GACI of the like. This sort of combination will speak to younger audiences in their own language, so to speak, and make them more innately interested in what you have to say. Then, of course, you have to find you demo. For younger audiences, a streaming service like Hulu is a good start, as is the internet. Finding where your audience gets their ads is pivotal when it comes to serving the ads to them. Lastly, you’ll want a focus group to give you feedback on your ads prior to distribution. This way, you can hear it straight from the horse’s mouth, the horse being a small sampling of the target demographic. This will help you fine tune your ad campaign to successfully get through to your intended demographic.…