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April 15, 2017

A Criminal Background Check is a Risky Business

risky business to earn moneyThere have been lawsuits filed in the past that suggest something rather scary for your company. If you make the decision to not employ applicants at your firm who have a past history of criminal violations, you stand to face charges of discrimination, based on race and other factors. This protocol is due to guidelines that are in place by the EEOC or the Equal Employment Opportunity Commission. According to tritoncanada.ca, you can’t just turn people away because of unrelated criminal records.

You Need to Consider All Factors

For example, if your company deals in stocking auto parts at a warehouse, you can’t turn an applicant with a record for insurance fraud from fifteen years ago away from the opportunity. According to the commission, you aren’t allowed to turn people away based on the fact that they have a history. Instead, you are required to evaluate that record and see if the offenses they committed have an effect on their ability to perform their job duties correctly, or if the safety of the other employees at the firm is in danger.

Racial Discrimination Suits Could Arise

It is a well-known fact by now that over 70% of employers in the US run checks on potential job applicants’ criminal records. The number of people with such records in the USA has been rising over the years at the same time. Those individuals who have a criminal record without being convicted of a crime, an arrest can lead to a black mark on the record. Many of the people with such records have never committed a violent crime and have never spent time in jail. Employers tend to generalize everyone with a criminal record as being a threat to safety, which is blatant discrimination.

The case gets even trickier when you consider the statistics for arrests and convictions in the US. Black people are imprisoned six times as white people in the country. A company can be sued for racial discrimination if they turn away people with criminal records. You are allowed to use a background test in your business, of course, but you have to consider factors in this check including the type of crime committed, how relevant it is to the job, and how long it has been since the applicant’s last offense.

Explanations Need to be Made and Received

Even after all this is considered, and you still can’t hire the applicant, you have to explain to the person in writing why you couldn’t hire them. This cause needs a satisfactory explanation of why their criminal history makes them unfit. The law firm must give you a chance to explain yourself and prove you can perform well on the job at hand.

If you have a criminal record that shows a violent crime being committed, it’s one of the only times they can immediately reject an application. In recent years, a conviction for malicious and intentional assault and battery would indicate a red flag, for example.

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April 14, 2017

Finance Your Travel Smartly

smart finance tripHoliday plans are often spontaneous and happen when you’re desperately in need of a break from the monotony of your life. Suppose you are planning a family vacation when your spouse or kids have holidays but your funds are a bit tied up. Should you postpone your vacation till you have the money? Absolutely not! Instead of being disheartened by thinking that you do not have sufficient funds at the moment, you can simply plan a vacation with a personal loan.

You can finance your travel smartly by availing a personal loan. Based on your credit history& income source, the eligibility and amount will be determined and accordingly the tenure and repayment conditions for the loan will be laid out. Salaried individuals find it easier to avail personal loans as compared to self-employed businessmen. However, if you have filed tax returns & all company documents are in place, even self-employed individuals can avail a personal loan without providing collateral.

An online personal loan is extremely easy to avail and rarely require any form of collateral. If you meet the eligibility criteria set by the lending institutions and have the necessary documentation in place, there is a definite chance your application will get an approval. In fact, these days online personal loans can be completely paperless with online submission of scanned id and residence proof.

How do personal loans compare with credit card EMIs? There are tax benefits for personal loans. You can claim income tax benefit under Section 24 on personal loan which offers an overall interest benefit of 1.5 lacs for tax exemption. In addition, extending your credit card to finance your travel is not a good idea as they have predefined credit limits that may not suffice the amount you need for your travel.

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April 13, 2017

Demolition or Renovation – Which Should You Pick?

low cost home renovationsIf you buy a prebuilt home that doesn’t have a tremendous value as it stands, you might find yourself wondering whether to rebuild it from the ground up or try to repair and remodel it as it stands. The question is one worth considering seriously because there can be major variations in the cost difference between the two options. There are many factors involved in the final decision according to sites like thepattisallgroup.com, each of which can influence it in a certain way.

Historical Value Must be Checked

People commonly want to demolish and rebuild if the home they bought is a timeworn one. In cases like this, you have to think about the significance of the house in history. Some homes are protected by the city for their historical value. These are commonly referred to as heritage homes, and you can’t just take a wrecking ball to them. You must talk to the state and federal government and get permits to break them down before doing so. In times like this, it might be more convenient just to renovate the home instead.

Consider Local Building Limitations

Some parts of a town, state or country have certain restrictions placed on how you can rebuild the home after demolishing it. These are usually regions of architectural importance, which are visited by tourists often for a look at the homes which are of a certain basic design. Demolishing an old home might not be the best idea if you are required to rebuild it in almost the exact same way that it looked before.

Saving Money on Renovation Isn’t Easy

Most legitimate home improvements are quite costly. You may be tempted to save money by cutting corners on certain aspects of the renovation. However, if you ever try to sell the house in the future and the quality of even the tiniest aspect isn’t up to par, you will have to pay a pretty hefty fine to repair the house before selling it. Because of this, your long-term costs can still be far higher than when demolishing and rebuilding the house.

You Can’t Live in the House While Renovating

Many people choose renovation because they want to move in as quickly as possible. They think that staying in the home while it is being renovated is a good idea and one that will save on rent money. The truth is, this can be quite harmful to the health of the people in your home. Renovation releases toxic chemicals, dust, and worse. All of these can be harmful, especially to pets, kids, and people with allergic conditions.

You should also consider how good you are at planning things. There are people who are great planners and others who are terrible at it. If you’re a terrible planner, renovation might not be the best idea since you won’t be able to determine how well the project goes. Hiring an architect and demolishing the old house might be the best course of action in a situation like this.

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March 26, 2017

Why Wealth People Are Buying In Citizenship By Investment Schemes

wealth investment schemesThese days, many wealthy people are buying their citizenship in locations where it is easy for them to preserve their wealth. There are actually numerous countries that allow what is called an immigrant investor program. These programs are set up by the countries’ governments in order to bring wealthy people into their ranks, and benefit from those people.

Countries with Immigrant Investor Programs

Countries like Cyprus, Spain, Malta and Australia have these programs. It is likely that in the future, more and more countries are going to begin implementing these types of programs. Especially as more countries are feeling the strain of the global financial crisis. This can help energize their economies. The most popular locations are in Europe, the Caribbean, and the Mediterranean.

An example of this type of program can be found in Malta. Their program is called the Malta Citizenship by Investment Programme. This program grants ‘naturalization by investment to reputable individuals and their dependents, after a rigid and thorough due diligence processes that make a significant contribution to the social and economic development of the country.’ What are the benefits? After five years of buying property in Malta, this will be tax exempt on sale. There is also no inheritance or death taxes, no estate duty, no net worth or wealth taxes and no municipal taxes, rates or real estate taxes. Dual citizenship is also available.

The examples above for Malta are just the tip of the iceberg when it comes to the benefits for the wealthy related to immigrant investor programs. These programs are specifically aimed at the very wealthy. The investments required can range from $500,000 to several million dollars. For those that do make this kind of investment, this is a very small amount. In Europe, Bulgaria requires a $700,000 investment in government bonds for five years, whereas in the Caribbean, St. Kitts& Nevis requires a $400,000 investment in real estate or the sugar industry.

Why are the wealthy investing in new citizenship in this manner?

So if the investment is minor for these investors, then what makes them want to participate in this type of investing? The main reason for doing this is the tax benefits. The super rich are always looking for ways to keep their money out of the hands of their government, and hold onto as much of it as they can. In this instance, the countries offering these programs, like the ones mentioned above, offer lower income taxes, and, more importantly, inheritance taxes.

There are other incentives as well. These include:

• Access to better education
• A desire to escape political instability or disagreement
• Better passport or visa-free travel to more countries, especially those in Europe as part of the European Union
• Higher standards of living
• Tax advantages

There are even some of the very rich who try to avoid taxes altogether by bouncing between countries around the globe with different citizenships and residence permits.

Who are these extremely wealthy people making this type of investment?

Those who are gaining citizenship through investment are from all over the world. Generally, many of these wealthy are from the Middle East, India, South Africa and China.

So how can the not-so-wealthy take advantage of these programs?

There are a few countries that do not require as large of an investment, like Bulgaria, in order to invest in citizenship, but gain all of the benefits. Dominica, for example, is the most inexpensive deal. With only an investment of $100,000 plus some fees, citizenship can be bought. Even St. Kitts and Nevis has a cheaper program than the $400,000 mentioned above. For only $25000, you can make a non-refundable donation to the St. Kitts & Nevis Sugar Industry Diversification Foundation to get access to citizenship.

There are also many countries that offer citizenship for an investment below one million US dollars. These include Malta, Portugal, and other EU countries where you can also gain all the benefits of the EU. Of late, citizenship by investment in Malta is gaining popularity due to various benefits. Moving and living in Malta has become so popular also due to the economic boom there is on the island

The least expensive of them all may be Latvia, where with a five-year residency costs merely $96,000. The benefits associated with this program include a common visa policy shared by twenty six European countries, but there is no telling how long this deal will last.

More countries are now offering this type of Immigrant Investor Program to help their economies bring the wealthy, and not so super wealthy, into their citizenship.

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March 25, 2017

Health Insurance that makes your Grand parents happy

health insurance for grand parentsThe right thing to know – The world we live in is full of risks and insecurities. Families, individuals, businesses, assets and properties are exposed to numerous types and certain levels of high risks. These definitely include the risk of health, life, property, assets, etc. We know that it’s difficult to prevent these risks, especially sudden miss happenings so the financial world has taken the responsibility to protect business and individuals against losses by compensating them with finance. Therefore, insurance is required with the full pace that eliminates or reduces the loss caused by any risk.

When we talk about health insurance, the first thing that comes to our mind is ‘Grandparents’. Ever thought health is such an important thing, especially when it’s about growing age. Sometimes, we initially don’t take a risk of traveling with them to abroad; we suffer from a fear of bad health. But every time this tact can’t be followed rather we need to find some solution for this. The best and relevant to this is – Super Visa Health Insurance.

Now, what exactly is Super Visa?

Super visa is a long term multiple entry visa for both grandparents and parents of Canadian citizens or permanent residents. They can stay up to maximum 2 years in Canada for every visit. This is valid up to 10 years. However, a regular multiple entry visa is also valid up to 10 years; but you can stay for 6 months only for every visit.

Eligibility for Super Visa

Super Visa is for grandparents and parents for Canadian citizens or permanent residents. Apparently, the grandparent or parent must be admissible to Canada and meet all the terms and conditions. Read on:

  • The applicant need to show Canadian medical insurance that meets the basic requirements and also covers then for minimum 1 year.
  • The applicant needs a letter of finance support from their grandchild or child in Canada, who earns the minimum required income.
  • Private medical insurance proof is required for the minimum time slot of one year with a copy of Canadian insurance company that covers hospitalization, repatriation, and health care and provides a minimum coverage of the certain amount, also is valid for the entry in Canada.
  • A copy of employment insurance pay stubs for grandchild or child.

Importance Generated

Although, the procedure can be little different if a grandparent or a parent is from another country, therefore, a visa is strictly required to enter Canada as a visitor. Health Insurance plays a key role in Super Visa, so make sure this is not ignored.

Validity for Super Visa

The maximum validity for Super Visa is 10 years, or it can be an addition to one month prior if the passport expires (whichever is earlier). Within this time Super Visa holders can stay up to two years.

On That Note

We truly know, how important is health insurance in today’s life, especially for our parents and grandparents. Therefore, in every limit, we need to make sure that this insurance is taken care.

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