What You Must Understand About Commercial Real Estate

When you are dealing with commercial property, you have to keep in mind that it is not the same as buying residential property for your own use. There are a few more things to look out for and the market value can change in the blink of an eye. Read the tips below to see what to watch out for and what to try.

When setting up a rental agreement with a new tenant make sure you draw up an official contract. Even if your renters are your own friends or family. You do need to protect yourself and your property. Make sure your expectations are in the contract and they know exactly what you would expect from them.

If you own commercial property, make sure you go out of your way to keep it a clean and safe place. If you have renters you want them to know that you care. If they think you don’t care they will not keep your house as nice as you would like. They would assume you don’t mind.

You should include the money you are going to spend on due diligence into your budget. Once you have your apartments ready, they will have to be inspected to make sure they match certain safety and quality standards. This process can be very costly, especially if your apartments do not pass the inspection the first time.

Determine your financing methods before you even start looking. It is just a shame to find the perfect property only to find that you are in a bind when it comes time to pay. You should determine and qualify with a lender before you start looking for the right property so you have your finances set when the time comes.

Be sure to request and examine financial statements and tax return information for at least the past two years of any commercial property you wish to purchase. Investigate expenses such as operating costs as well. Make sure you understand all of the information presented to you and if you do not understand it, have your real estate attorney go over the papers with you so you have a solid, working knowledge of the expense and return of the property.

If you are using commercial real estate as a rental property, properly screen your renters. You need to know who you have living in your properties. Be sure to use a legal lease and give them strict rules and guidelines. Rental tenants should know their rights and limits, as provided by their landlord or leasing agent.

Networking is a great tool when you are getting into commercial real estate. Networking allows you to make contact with others who can help you. In return you might be able to help them as well. It is a win-win for everyone, and will help make real estate more profitable for you.

If you are at the negotiating table for a commercial real estate sale, be sure to keep the fact that you would like to get the sale completed quickly under wraps. If it is known that you are in a hurry to get the property, you will find that you will lose a great deal of leverage to get a better deal.

When dealing with a commercial real estate property in your interests, make sure that the building is ready for the sale. It is important that you are informed of every single thing about the property. For example, say the company knew there was something wrong with the HVAC system in the building, but you did not ask about it or get it inspected, this will be a cost that will set you back and could have been easily avoided.

This is not something that you should try to do on your own and it would serve you well if you got in touch with a licensed commercial real estate broker. With their help you will be able to negotiate a great deal that will put a smile on your face.

A Short Guide To SEO: What You Must Know

In order to market your website and/or business effectively, you need to have the proper information to guide you along the way. Without the right info, you’ll be swinging blindly in the most competitive marketplace in the world. Read the article below and find out about some tips you can use for optimizing your website.

Use header tags to your advantage. Sometimes a header can be really large, but CSS can be used to reduce the size. Headers are great in that search engines use them to develop site rankings. Use H2 and H1 tags so that you’re able to highlight what a product’s about. This lets a search engine crawl something it finds to be worthwhile.

Include useful external links on your website. The number of outbound links can positively affect a website’s search engine rank, however, make sure that the pages you link to are relevant and search engine optimized themselves. It is also best to link to related websites but not direct competitors, as you do not want to lose potential customers in a bid to increase your search engine rank.

When it comes time to improving your traffic, start by editing its content. When website visitors don’t see relevant information that they want to see and read, they will leave. One of the best ways to bring more visitors in is to work on your content.

Be aware that search spiders cannot read images, they can only read text. You need to include text in the descriptions of your images and image tags so that they can be found in search engine results. Using the image’s “ALT” tag, you can add keywords and text, that can help the spider effectively find your image by reading around it.

It is important to remember the search engine optimization articles must be useful to the reader. The blurb or article must provide them with value and applicable relevance. Search engine optimization verbiage needs to be something that the average person can easily relate to, so there is no need for formal language.

Don’t use hidden text or links on your website to optimize your site for search engines. Some webmasters will try to make text or links invisible to visitors but visible to search engine spiders. One way they do this is to use white text on a white background. Search engines can now easily spot this sort of behavior, so it will not help your site rank at all.

Boost your website’s SEO by visiting “.edu” domains and creating backlinks on their blogs and forums. Also search for .edu sites in need of sponsorship. Search engines favor .edu websites and sites with numerous backlinks. Make sure that the comments you leave on these websites are relevant and not a hard sell for your company or product.

URL extensions are like differently shaped light bulbs. They all light up a room. In other words, using .html, .htm, or .php will not change how a search engine views your website. You can use whichever extension you choose. There is no distinction, and it has no impact on your ratings.

Stay far away from PDF files. If a website uses PDFs, it is basically taking a very large shortcut. This is a sign of a poorly managed website, and search engines view it as such. You do not want to be sen as lazy and therefore ranked poorly by the search engines, so do not use PDFs.

It’s all about what the websites want in SEO, and that’s what you need to realize. It doesn’t matter if you’re a simple blog or a legitimate business; you still need the proper optimization if you hope to achieve a high ranking. What you’ve read here will help you achieve that, but you still need to put the information to good use.

Must check before filing the return of income

The return filing season is on and for salaried employees the last date for filing the IT return is 31st July, 2016 (for returns pertaining to FY 2015-16). Timely filing of return is a good practice and has many advantages too. However, apart from timely filing it is very important to file correct and accurate information. In this article we shall discuss few important points to be kept in mind before filing the return of income.
Selecting the correct return form
6 different forms are notified by Government for an individual tax payer viz. ITR 1, ITR 2, ITR 2A, ITR 3, ITR 4 and ITR 4S. A taxpayer not having income from business/profession has to select only from 3 forms viz. ITR 1, ITR 2 and ITR 2A. Thus a salaried person not having business/profession income has to choose amongst ITR 1, ITR 2 and ITR 2A depending upon his/her income.
Providing correct and complete personal and other details
Apart from providing correct personal details it is very important to provide complete information which will cover items like email id, telephone/mobile number, aadhar number, passport number (not required if filing ITR 1) and details of all bank accounts (saving/current).
Providing correct income details
Details of all the incomes earned during the year should be declared. It should be ensured that incomes like interest on investments, interest on saving account, taxable gain on sale of shares/mutual funds, etc. are declared in the return. The common mistake observed is omission to declare interest on saving bank account, FDs, NSC, etc. If you have earned interest on saving bank account/post office saving account then don’t forget to declare the same in your return and on the same hand make sure that you claim deduction upto Rs. 10,000 under section 80TTA (first you have to declare entire saving interest as income and then claim deduction under section 80TTA of upto Rs. 10,000).
Declaring exempt income
It’s true that exempt income is tax free, but it does not implies that exempt income is not to be declared in the return of income. Non-taxable incomes like exempted allowances, dividends, gain on sale of listed share after holding for more than 1 year, etc. should also be declared in return of income. Return forms have a separate section for declaring the exempt income. It should be confirmed that non-taxable incomes are reported in the section of exempt income and are not added with taxable income.
Declaring clubbed income
At times income of spouse/minor child is clubbed along with the income of taxpayer, in such a case it should be ensured that the income so clubbed is included along with the income of the taxpayer and declared in the return. In case of taxpayers filing the return in forms other than ITR 1, the clubbed income is also to be declared separately in the details of “income of specified person”. For taxpayer filing the return in ITR 1, it is sufficient if they just add the respective income along with their income (as there is no separate section for clubbed income).
E.g. Mr. Raja has made a fixed deposit in the name of his minor daughter and interest for the year on this fixed deposit amounted to Rs. 84,000. In this case, considering Mr. Raja’s income more than his spouse’s income, the interest of Rs. 84,000 on FD in the name of minor daughter will be taxed in the hands of Mr. Raja and will be added along with his income. Exemption under section 10(32) is available upto Rs. 1,500 per minor and hence in this case net income of Rs. 82,500 will be clubbed (Rs. 1,500 will be reported in the section of exempt income). Rs. 82,500 will be taxed under the head income from other sources. If he is filing return in ITR 1 then he will add interest of Rs. 82,500 along with his income under the head other sources. If he is filing return in forms other than ITR 1 then he has to add interest of Rs. 82,500 along with his income and also needs to declare minor’s income so clubbed in the section of “Income of specified person” (referred as Schedule SPI in return form). In both the case he has to declare Rs. 1,500 under the details of exempt income.
Claiming all the deductions
A taxpayer is entitled for certain deductions from his income as specified under section 80C to 80U (few major items are payment of life insurance premium, investment in PF/PPF, NSC, repayment of home loan principal component, investment in tax saving pension plan, investment in NPS, payment of medical insurance, payment of interest on educational loan, specified donations, etc.). While filing the return of income, it should be ensured that all the deductions which are legally available to taxpayer are claimed in the return of income.
Confirming the tax credit with form 26AS
This is a very important step which should never be skipped before filing the return of income. Form 26AS reflects the tax credit in the account of taxpayer as per the database of Income-tax Department. This will reflect credit of taxes paid by the taxpayer in the form of TDS, TCS, advance tax and self-assessment tax. Form 26AS can be downloaded from the taxpayer’s e-filing account at www.incometaxindiaefiling.gov.in
If there is any mismatch between the tax credit reflected in form 26AS and tax credit as per the taxpayer’s actual data, then appropriate action should be taken to match the same. It is advised to file the return only after matching the tax credit as per form 26AS with the actual tax credit for which taxpayer is entitled.
Paying any due before filing the return
It should be confirmed that tax/interest payable (if any) as per the return of income should be paid before filing the return of income and the details of such payment should be mentioned in the return of income.
Bank account for refund
If refund is due on returned income, then ensure that you select the correct bank account in which you desire to get the refund. The refund of excess tax paid by you will be credited to the bank account opted by you for credit of refund, hence, select only that account in which you desire to get the refund credited.
Declaring details of assets and liabilities
If the taxable income exceeds Rs. 50,00,000 then the details of assets and liabilities are also to be provided in the return under the section referred as “Schedule AL”. The value to be reflected will be the cost and the items are immovable property i.e. land/building, movable property being cash on hand, jewellery, bullion, etc. and vehicles, yachts, boats and aircraft. Apart from value of above assets, any liability attached to these assets is also to be declared.
Details of foreign income
If you have earned income from outside India then ensure that the same is declared in your return of income being filed in India in the section referred as schedule FSI and if any tax relief is available for foreign income then provide the details of such relief in the section referred as schedule TR
Details of foreign assets
If you hold foreign asset then make sure that you provide the details of these assets in the section referred as schedule FA.

Timely filing of return is a good practice and has many advantages too. However, apart from timely filing it is very important to file correct and accurate information.