If you are an adult without medical coverage, you probably already know there is little help from the current health care system. However, for children, it is quite easy, through government health programs, to obtain needed health care coverage. Making sure your children are covered in case of a medical emergency is very good to know.Health care for children of low income and minimum wage families was made available through Medicaid and aid for dependent children government programs. This however left a gap in coverage for middle income families that needed help providing affordable health care for their children. To make sure all children, regardless of family income levels had sufficient health care; health care programs were created by the government to serve these needs.These programs are set up and accessed through the local Medicaid and Social Services the handle government health programs. This can also be confusing to those seeking help, because it could be listed by some other name or service, depending on what state and location you are in. If and when Medicaid coverage for their child is denied, you will be informed of help in other programs available. The Medicaid office will always assist you in finding help if it is available, by directly sending your application to the necessary office. You will then be informed of what you child is eligible for.Many people can get this children’s health insurance benefit for free but those who make a slightly higher income may need to pay a very small monthly premium for this insurance plan. The fees are extremely low and affordable.Be prepared for a long wait on application processing time, should you decide to chose this method for your child’s health coverage and you have submitted all the necessary applications. Should an health emergency happen before you get a response, there is still some things you can do, to still get the emergency services needed. You can directly contact the government office and request your applications be reviewed and approved because of the emergency. In most instances, they will not only quickly expedited the application, but will back date your insurance coverage and expenses incurred starting on the date the application was filed. This will help getting the necessary health care when needed.
The UK offers a variety of commercial investment possibilities and is the perfect place to close a commercial mortgage deal for property investment, business development, or personal purposes. Getting a commercial mortgage in the UK can be very beneficial for borrowers, as they will be able to quickly find attractive investment opportunities in the well-developed local market. Although the task of obtaining a commercial mortgage in the UK can at first be very problematic without specialized help (preferably a competitive UK commercial mortgage brokerage company), once you get your desired commercial loan you will rapidly realize the multitude of advantages, such as: possibility to retain ownership of your business, as well as business premises; gradual capital gain for your business over the entire period of the commercial mortgage repayment; lower interest rates; no rental instability; tax deductibility; highly efficient cash flow management.The primary advantage offered by UK commercial mortgages resides in the fact that you will be able to retain ownership of your business and your business premises during repayment. As long as you make efforts to repay the loan on time, the commercial lender who has provided you with funding is not entitled to more than receiving interest on the mortgage. Another very important advantage of UK commercial mortgages consists in the fact that once you close such a deal, your business becomes an asset that can rapidly grow in value under favorable market conditions. By closing a competitive UK commercial mortgage, you will be able to ensure long-term capital growth for your business.Another major advantage of UK commercial mortgages refers to competitive interest rates. Compared to other types of loans, UK commercial mortgages have much lower interest rates, especially in the case of repayments made over longer periods of time. In addition, borrowers can opt for fixed interest rates in order to know the exact sum of money that must be repaid each month.Stability is yet another advantage if UK commercial mortgages. Unlike those unstable rental payments (which may increase unexpectedly), commercial mortgages eliminate such increases on the premises of less fluctuant interest rates. The stability characteristic to UK commercial mortgages allows for more efficient business planning.In addition to the mentioned benefits of closing UK commercial mortgage deals, this category of loans also offers the advantage of tax deductibility. Payments are tax deductible and the net proceeds of the loan don’t represent taxable income. This can considerably reduce the amount of taxes paid by your business every year. Another notable advantage offered by UK commercial mortgages is that they allow for more efficient cash flow management. Considering the fact that the mortgage is received for a number of years, businesses can efficiently predict their profits and expenses, as well as plan their cash flow management in great detail. With the right repayment plan, UK commercial mortgages are some of the most beneficial types of loans designed for businesses.
Many economic scholars see small businesses, to be the largest contributor to economic growth and employment creation on the planet. The ratio of small business, to big business in different countries varies. It is predicted that small business as a collective, will eclipse big business as a force in the economic landscape in future years. Be that as it may, fact remains that small business, is crucial to every countries economic development.Limited research however, has been conducted on a variety of issues affecting small business. The global small business failure rate remains high, at an unacceptable rate of 80%(some say 95%), within the first year of formation. Common concerns about small business are confined to only cash flow problems, and under capitalization. Whilst these two, are major culprits in business failures, they not the only factors. Weak marketing, skills shortages, bad management, capacity are other factors, contributing to business failure. Taxes can also be added to the list as a cause of business failure.Since many start-up businesses cannot afford to procure the services of a tax consultant/ advisor, they eventually fall foul of the taxation requirements of their respective tax authorities.
A small business is treated no different from a huge multinational corporation in many tax regimes around the globe. This treatment comes with its own set of problems. The one being the failure of the small business. Tax authorities, vigorously pursue errant taxpayers, be they big or small. In fact, it can be proven that harsher enforcement by tax authorities are reserved for small businesses!Governments have yet to honestly acknowledge the role of small business and stop paying only lip service to its promotion. The current tax system for small business, in most countries will have to be revisited. No one is suggesting that tax authorities should grant small businesses “special treatment” forever. Just a breather, so as to enable them to grow at a faster pace.To accommodate a small business and its growth, whilst being fair, a concept known as “thresholds tax”, can be implemented for small business. It is in place for individuals, and also known as progressive taxation. Simply put, it means, the more someone earns, the more they taxed. Many countries levy a fixed percentage tax on “profits” of businesses, big or small. This tax is not fair, and fairness is a prerequisite for a good tax system. Even the slightly different tax regime for “Small Business Corporations”, in most countries still does not address the problem.The controversial “profit” in business accounting, especially small business has not been thoroughly researched by tax lawmakers. Profit does not always equate to positive cash flow.
The working capital factors tied into profit, results in severe cash flow setbacks for small business. It is therefore unfair to tax the small business on profit, like the bigger companies, since bigger businesses finance their profits and/ or working capital via many methods, internal and external. These avenues are not available to smaller businesses.Herewith some suggestions on making taxes easy for small business.
Give small business a tax holiday of about two years after start-up.
Simplify tax legislation.
Tax small business only on “cash generated by operations”, up to a certain threshold.
Profit less working capital (debtors and inventory on hand) plus depreciation equals cash generated by operations, which in turn becomes taxable income.
Exempt small business from employee; value added or general sales tax up to certain thresholds. (Already in place in some countries).
Taxable income thresholds could be, 0 to $200 000; $201 000 to $500 000(for small business), depending on the definition of a small business in the respective country.
As soon as the taxable income exceeds $ 500 000, a higher progressive rate applies.
Taxes on “cash” income could also fall away at this level.
My suggestions are in no way exhaustive. More substantive research is needed. If we accept that we live in a global village, taxes will also have to be harmonized and standardized, between the different countries. What International Accounting Standards have done for accounting; can be suggested for taxation also.