When is a Commercial Lender not a Commercial Lender?

A Commercial Lender is Not a Commercial Lender When it is a BankA commercial lender offers loans backed by hard collateral, usually real estate. Usually a commercial lender’s lending criteria will be less stringent than at the local bank. This is because most banks focus on providing private residential financing for individuals of the local community, not large amount loans for real estate or commercial property acquisition. Most commercial lenders are not so much concerned with the borrower’s financial record and qualifications as they are about the mortgage property value.Unlike most banks, commercial lenders are able to provide a loan in a short amount of time-usually within several weeks depending on the mortgage terms. Commercial lenders also offer a wide variety of loan products. Perhaps the most popular of these products is the bridge loan. Bridge loans are most often used to take advantage of time sensitive real estate opportunities or to avoid foreclosure.A Commercial Lender is Not a Commercial Lender When it is a Commercial BrokerSometimes a commercial broker will pose as a commercial lender. The difference between the two is that a commercial lender actually provides money, while a commercial broker provides a convenient way for borrowers to find lenders. In most cases where a broker is used, there is no direct contact between the borrower and commercial lender. Indeed, from the broker’s perspective, this would be a bad thing since they profit considerably from middleman fees charged to the borrower. So why are commercial brokers in business? By and large they are much more effective at advertising to potential borrowers than commercial lenders. Commercial brokers also provide the infrastructure necessary to carry out loan transactions. However, with more and more business being done over the internet, their chief value-add is their knowledge of, and access to, a long list of commercial lenders.With more commercial lenders marketing themselves all the time, the value of brokers may diminish significantly in the near future. There are several significant advantages to having direct access to a commercial lender: 1) No broker fees, 2) Timely answers. Direct communication equals direct answers to your questions. A commercial lender either can, or cannot provide you with a loan-there’s no incentive for them to waste time trying to figure out if you qualify or not. A broker, on the other hand, will often times spend considerable time finding what deal is best for them by going from direct lender to direct lender. If a commercial lender can’t help you, they will be able to tell you what other lender can. 3) Timely closings. By working directly with your lender, issues can be resolved, questions answered, and loans closed. Loans options not offered through a broker may be available by going directly to a commercial lender.What’s the Trade-Off of Using a Commercial Lender?Because of the quick turn around and conveyance provided by bridge loans and other high-risk commercial lender loan products, rates can be higher than at a bank. If you have the time and the financial qualifications, you might be best served at your local bank. However, commercial lenders are a great option for people with ‘near-bank’ loans, in other words, loans that were almost approved by the bank. With so many potential lenders available, it may seem a little daunting to find an option that works for you. Many times the only significant factor that sets two commercial lenders apart is the quality of their customer service. Traditionally, the commercial loan market is notorious for being short on professionalism. Find a lender who is willing to take the time you need to understand the details of your loan.

Home Based Business Tax Benefits: The Top 5

Did you know owning a home based business has considerable tax benefits? The idea that only the rich have access to tax benefits is a myth!The first step is to own a home based business and run it with the intention to make a profit. The important word there is “intention”. You don’t really have to make a profit to take advantage of these benefits. Now, you can begin a home based business for little cost and can run it part-time from your home while having a full-time job.In time, and with some effort on your part, you will be able to leave your day job and work from your home full-time and take advantage of all of the benefits a home based business has. The best part is you can take advantage of the home based business tax benefits as soon as you start your new business!Owning a home based business allows you to deduct some personal expenses you wouldn’t usually be able to deduct. These things include but are not limited to: dining out, a new computer for the office, dental and medical expenses, and some vacation related expenses. The money you can deduct for operating a home based business is not insignificant and can amount to well over ten thousand dollars.Here are the top five deductible expenses for Home Based Businesses: 1. Vehicle DeductionThis IS the most complicated home based business tax benefit you get. It is also where most people get into trouble with the IRS because they didn’t correctly document their vehicle related deductions. If you are going to use vehicle deductions, I can not stress enough that you MUST document everything properly. Keeping a diary or travel log to track mileage, maintenance costs, etc. will save you time and many headaches.How does the vehicle deduction work? Basically, you determine how much of the time you use your vehicle for your home based business as a percentage. You are then permitted to take that percentage of time and apply to the cost of operating your vehicle. For instance, if you use your vehicle 60 percent of the time for your home based business, you are permitted to deduct 60 percent of the costs of operating the vehicle.2. Meals and Entertainment DeductionFirst things first, in order to take advantage of this tax benefit, you must have proper documentation. This primarily means you need to save your receipts and record who you spoke to about your home business. Normally, you will be able to deduct up to 50 percent of the cost, but make sure you check beforehand.As long as it is related to your home based business and document the costs properly, you can also deduct up to 100 percent of the expenses of entertaining people in your home. You may come to realize the tax benefits are much greater if you entertain in your home instead of taking someone to your favorite restaurant.3. Home Office DeductionThis one of the more intricate home based business tax benefits, but it has the potential to save you thousands of dollars every year you own your business.To claim the home office deduction:1. You must render significant administrative or management activities for your business out of your home. For example, you do your paperwork, make calls, do your training, and perform other business functions out of a set area in your home.
2. You have no other office where you conduct significant management or administrative activities for your business.
3. You must use a specific part of your home exclusively for business. It doesn’t need to be an entire room though. A particular section will do.
4. You must use this designated section regularly for at least 45 minutes a day, four or more days a week. The work hours must not be occasional or sudden.What can you deduct? You are permitted to deduct part of your home, utilities, and part of the interest and taxes you pay that are related to owning your home. You can also deduct office supplies like new computers, printers, phones and furniture used for your home business.4. Travel DeductionDid you know the Internal Revenue Code (Section 162) allows you to deduct “traveling expenses…while away from home in pursuit of a trade or business…”? As the owner of a home based business, you can visit family and friends all over the world and deduct some of the expenses associated with the trip. You just have to make sure at least half of the days of your trip are “business days”. Essentially, as long as you plan ahead and document properly, you can deduct a lot of the costs associated with traveling and vacationing… Every year. How is that for a home based business tax benefit?5. Medical Expenses DeductionIn order to take advantage of this home based business tax benefit and, you will need to employ your spouse and cover them with a comprehensive family medical plan. This allows you to deduct all of the costs associated with the your family’s medical expenses. But, there two important requirements in order to take advantage of this deduction.The first is you must have proof your spouse has done actual work for your home based business. The second is you must establish a legal document called a “Self Insured Medical Reimbursement Plan.” Do a search on that phrase in Google to see what that entails. It’s pretty straight forward.That’s it. Utilizing these five strategies correctly will allow you to take full advantage of your Home Based Business Tax Benefits and can save you thousands of dollars every year. The best part is they are completely legal and ethical!If you are not sure how to do anything mentioned in this article or have any other questions, please consult a tax professional. Do not assume what you are doing is correct until you speak with a tax professional.

Some Facts to Know About Home Health Care Nursing

Having a home health care nurse is one of the new concepts in the health industry, which is rapidly picking fame. Through home health care, the patient’s privacy is maintained and even the family is released from the hassle of taking the patient to the hospital again and again for routine checkups. Home health care nurse services are best suited for people suffering from fatal illness, permanent or temporary disability, or prolonged health issues.According to a survey nearly 7 million people require nurses for in home care. Until a couple of years back, nurses were needed only in hospitals, nursing centers, or high class living centers. However, today the need of nurses has taken a 360 degree twist. The nurses are no longer only required in the above stated places, in fact, families having members as patients demand receiving nurse care at their home. The nurses associated with home health care are allowed to practice nursing at homes, only after undergoing academic training.Families also prefer hiring only those nurses that come with a sufficient amount of qualification and experience of several years. With time, several changes have been made in home health care. Now, a very secure home health care is provided to the families. Today, insurance is provided and proper documentation is also done between the nursing agency and the family. Also, with technological advancement in the medical field, now patients do not need to stay admitted in the hospital for long. They can easily shift home under the care of home heath nursing services.Home health nurses come with an number of skills.They do not only treat the patients, but they also educate them regarding their illness. Also, they are looked upon to provide emotional support to the patients. From taking care of injured or sick young children, women who have recently given child birth, looking after the elderly, and all other patients suffering chronic diseases, nurses today can be looked upon for nearly every disease, injury, or other kind of treatment. Health care nurses are also capable of taking care of the patient in any particular setting. It is very important for the nurse to have strong communication skills. She should also come with the flexibility to adopt any kind of culture and customs that the family follows. If you are thinking of having a career in home health care nursing, then you should not waste more time and just get into it. The demand for nursing is said to increase by 10% in the coming future.