Articles and Press Releases

RunMyErrand Grabs $1 Million Series A Venture Capital

Tue, 03 Nov 2009 13:26:00 -0500

Internet company RunMyErrand has garnered $1 million in first-round venture capital investment.

RunMyErrand has developed a website that allows people who need errands to be run to contract directly with runners.

Credit card debtors- Beware of robocalls

Fri, 26 Jun 2009 15:51:00 -0400

The White House reported in January 2009 that there was an increase in credit card debt by 25% over the last 10 years. The total credit card debt reported was USD$963 billion (as of January 2009). The existing credit card debt/household is approximately USD$9000. With the ongoing credit crunch, more and more people are finding it difficult to make ends meet. Reports suggest that people have become so desperate that they are willing to cut down their insurance coverage.

People are on a "pay-off debt" spree and it is not uncommon to see the debt help companies doing brisk business these days. Recession has not only given rise to the liquidity crunch but it has also given rise to the number of fraudulent market participants. However, not all debt relief companies are indulging in fraudulent activities. There are many credit card companies that are helping credit cardholders by reducing the rate of interest. And these companies are helping debtors legally.

Recently, it has come to the notice of many and the same has also been reported by the Better Business Bureau that there are many companies posing as credit card issuers and calling up credit cardholders requesting them to give their Social Security Numbers and other banking details. Two Orlando based companies have conducted robocalls and promised credit cardholders to save approximately USD$2000 to USD$2500. The claim made by these robocalls is usually false and they promise to lower interest rates by negotiating with your creditors. The Better Business Bureau has warned credit cardholders not to fall into their trap as they do not comply with U.S Do-Not-Call Laws.

An excerpt of a robocall is given below ?

"There are no problems currently with your account; however it is urgent that you contact us concerning your eligibility for lowering your interest rates to as little as 6.9 percent".

Benefits of Incorporating

Thu, 12 Feb 2009 12:10:00 -0500

One of the most common mistakes that business owners make is to not incorporate their business.

Some of the simple benefits are:

establish corporate credit and quite using your personal credit. (I will write in detail about this later)
protect your personal assets from law suits
The Board of Directors in some states are protected from litigation.
It is much easier for a corporation to get a business loan and/or raise funds

There are many other reasons but I wanted to list the major ones here. Please find below detailed information.

If you have any questions please contact me at info@findbusinesscapital.com or call 800-368-1498.

Robert Ritch

Incorporation (A.K.A Inc) is defined as the forming of a new corporation (a corporation being a legal entity that is effectively recognized as a person, albeit a fictitious one, under the law). The corporation may be a business, a non-profit organization, sports team or a government of a new city or town.

Legal benefits

Protection of Personal Assets or the safeguarding of personal assets against the claims of creditors and lawsuits.

Sole proprietors and general partners in a partnership are personally and jointly responsible for all the liabilities of a business such as loans, accounts payable and legal judgments.
In a corporation, however, stockholders, directors and officers typically are not liable for their company's debts and obligations. Instead, they are limited in liability to the amount they have invested in the corporation (eg: $100 in stock was purchased, no more than $100 can be lost).
Corporations and Limited Liability Companies (LLCs) may hold personal assets like houses, cars or boats. If one is personally involved in a lawsuit or bankruptcy, these assets may be protected. A creditor or the owner of a corporation or LLC cannot seize the assets of the company; however, they can seize their ownership shares in the corporation, as that is considered a personal asset.

Transferable Ownership - Ownership in a corporation or LLC is easily transferable to others, either in whole or in part and some states' laws are particularly attractive to this end.
Retirement Funds - Retirement funds and qualified retirements plans, such as a 401(k), may be established more easily. With certain restrictions these funds can be used managed and used by the corporation.
Taxation - In the United States, corporations are taxed at a lower rate than individuals. Additionally, they can own shares in other corporations and receive corporate dividends 80% tax-free.

There are no limits on the amount of losses a corporation may carry forward to subsequent tax years. A sole proprietorship, on the other hand, cannot claim a capital loss greater than $3,000 unless the owner has offsetting capital gains.
Taxation Corporations can only deduct net operating losses going back two years and forward 15 years.

Raising Funds Through Sale of Stock - Capital from investors can be raised for corporations easily through the sale of stock.
Durability - A corporation is capable of continuing in perpetuity. Its existence is not affected by the death of shareholders, directors, or officers of the corporation.
Credit Rating - Regardless of an owner's personal credit scores, corporations, acquire their own credit rating, and build a separate credit history by applying for and using corporate credit.