Why You Should Read Every Word of a Contract Before Signing

Before signing your name to a contract, it is important to read every word. Even a single sentence could have implications that could ruin your financial future. Once you choose to sign a contract, there is no way to reverse your decision. As a result, you could face unforeseen consequences that you could carry with you for the remainder of your lifetime. You should also read the contract to ensure that you understand all of your contractual obligations.

Understanding this information can help you to avoid penalties that could hurt you later down the road. This article will take a look at why it is important to read every word of a contractual agreement before signing.

1. Unfavorable Terms are Usually Hidden

A contract created by the other party is usually designed to convince you to sign it. As a result, unfavorable terms are usually hidden within the agreement. Research has shown that readers are most likely to read the first sentence of each paragraph. Readers are also more likely to ignore terms that are written in smaller fonts. In most cases, the other party is aware of these human tendencies. Therefore, you can use this information to your advantage. Make sure that you read the entire contract to discover terms that are likely to be unfavorable. Most of these bad terms will be hidden in the middle of paragraphs, in small fonts, or near the end of the document.

2. Unintended Consequences

Many individuals who sign a bad contract are in a hurry to get what they want. As a result, they are unlikely to carefully evaluate each contractual term. Since the consequences of a bad contract can extend for the remainder of your lifetime, it is important to consider how individual terms could have unintended consequences. In many cases, individuals are unaware of what these consequences could be. As a result, it may be advantageous for individuals to ask a professional attorney for advice. It may also be possible to talk to another individual who previously entered into the same agreement. By doing this, you can reduce your chances of entering into an agreement that you will later regret.

3. Understanding Your Obligations

It is also important to read the full terms of an agreement to understand your obligations. In many cases, disputes arise due to ignorance by the other party. Courts in the United States have long upheld that individuals who are ignorant about certain terms cannot receive any extra leniency. The only exception to this rule is if the other party acted in bad faith. In the vast majority of cases, victims of bad contracts usually end up having to pay for their mistakes. Therefore, it is important to fully understand your obligations under the contractual terms. The easiest way to do this is to simply read the entire agreement. Make sure that you ask questions if there is something that you are unsure about.

4. Contracts Can Be Changed

The terms of a contract can always be changed. If you study the terms and find something that you are uncomfortable about, the other party might be willing to remove the unfavorable terms. Even unethical individuals are often willing to make these concessions. Make sure that you read the entire contract to find terms that might need to be changed. If the other party is not willing to change these terms, do not be afraid to walk away from the deal.

Simplifying the process can also help greatly. A variety of new options are now available, including electronic signature tools, that make the process of signing documents faster and easier on both individuals and businesses. This is just part of being organized, which will also help you to make sure you’re not agreeing to contractual obligations that you don’t understand.


5 Expenses You Didn’t Know You Could Write Off With Your LLC

So you run an LLC and you know that before long it will be time to file taxes. Everyone knows that paying taxes are not fun at all, but with deductions it can reduce the amount you owe and thus make it a little more bearable. The following list should help you by showing you some not so well know deductions that you can write off. I am not a tax professional, so all information should be gone over with your tax preparation company.

First-Business Insurance: So most businesses carry some form of insurance to protect themselves as well as the customers they work for. And we all know that business insurance is not cheap at all. So the IRS will let you write off the cost of having business insurance, and that is great news for many small business owners.

Second-Health Insurance: Since everyone has to have health insurance now, you might as well take the write off for it. If you own a small business and pay out of pocket for your health insurance you can write that expense off of your taxes. That includes insurance for you and your spouse as well as children up to 27 years old.

Third-Employee Pay: Paying employees is often the largest expenses that a business has. Writing off this expense will be huge for many owners. According to the IRS, as long as the expenses are reasonable you are allowed to write it off! So as long as you claim that your employees made a reasonable wage, there should be no problem.

Fourth-Home Office: Now everyone knows that an office can be a write off, but what happens if you run a service business that works at the client’s home or office? The IRS says that you can write off a home office as long as you use that portion of your home ONLY for business. You also need to use it on a regular basis. That can be only once a week if you use that space to do paperwork like invoicing and payroll. When you use the home office write off you also get the chance to write off a good amount of other things. Some of them are water and electric, repairs and even landscaping. Don’t forget the housekeeper as well!

Fifth-Training: If you bought some training DVDs for the office staff, or paid for the sales team to go to a training seminar then you are in luck. All training and education expenses used to further your current area of business can equal a large write off for you. So don’t be afraid to throw out the old VHS tapes sitting on the shelf collecting dust. Don’t forget that when you replace them, you need to watch the new ones!

Hopefully this list will help reduce the pain associated with filing taxes. These are just a few of the many write offs that the IRS offers to business. Don’t forget that a tax prep company should be aware of all the different write offs and what you do and don’t qualify for. But remember above all else, don’t take a write off if you didn’t earn it!


How to Get Serious About Asset Management

There are many ways to make wealth, but the truly successful “make their wealth grow.” What are some of the most important financial developments for 2015? Capital shows you how to get serious about asset management by helping with investment choices, risk management and plan development.
World on the Edge

When you listen to the mainstream news, you only get a quick snapshot of what is going on in the world. Successful asset management requires you to look beyond the headlines to understand the core fundamentals. As we pass into a new year, the world financial markets seem to be doing quite well, but what is lurking in the shadows?
Protecting Your Wealth

Wealthy people are always looking for the next emerging market. They need to invest in “income-producing assets” to grow their portfolios. Stocks are reaching high PE ratios with some earnings warnings at the end of 2014. The retail environment is somewhat shaky as consumers deal with high debt loads.

In 2008, investors in the Dow Jones saw the market collapse by 40%. The unprepared lost a lot of money. Isn’t it time to get serious about your asset management?
What is Your Risk Management?

Quick silver capital will find the best returns for investments. While you might have assets in developed countries, the returns might be quite low. Does this conservative risk management plan fit your personality?

Young people might want to chase the higher returns available in developing economies. But which ones can you trust?
European Union is Convulsing

In 2008, Portugal, Ireland, Italy, Greece and Spain (PIIGS) were defaulting on their debt. So what has changed? These economies have seen a mild recovery, but other European countries may be nearing the debt cliff. France had its sovereign debt downgraded in December 2014. How will the valuations of European assets be effected?

Getting serious about asset management is about preparing before the bottom falls out. One secret about wealthy people: They don’t follow the herd mentality. If you don’t have a good asset management plan, you will be paying for someone else’s summer home, not your own.
Debt Remains an Issue

Global debt remains a serious concern. It is like an anchor slowing down the global ship. Billionaires like Marc Faber and Jim Rogers have already shifted their assets to a rising Asia.

Can you imagine the potential for a Chinese or Indian automobile manufacturer, when their billions can afford better transportation? Tata Motors has already purchased British Land Rover and Chinese motorcycles are competing with BMW.
Diversification is Key Element of Your Plan

Capital can help you learn about investment strategies to diversify your holdings. These financial asset management advisers will work for you with your best interests at heart. You have a busy life and cannot stay abreast of all the world’s economic developments – but these professionals can.

Building and maintaining wealth is the true challenge. Sit down with the experts at Capital to talk about your financial portfolio. Develop a plan first. financial professionals can help you get serious about your asset management.


10 Projects The Whole Family Can Take Part In

We are all looking for ways to enjoy our time with family. There is no need to mortgage the house or travel on fancy trips. Sure it’s hard to get up and get out, but put down the technology and get moving together. Here are ten great projects that everyone in the family can enjoy.


1. Grow Something: Building a garden or filling the planters with new life is so much fun. Kids love to get their fingers dirty and it is a wonderful chance to teach some valuable life lessons about caring for living things and watching those things produce food and flowers we all get to enjoy. Starting from seeds indoors is fun on a rainy day and cheap.

2. Build It: There are tons of simple plans online for forts, teepees or cardboard playhouses. It is amazing how much kids are craving to be a part of the imagination process and prefer our imperfect creations over the pristine store bought products. Kids can use paints or markers to give it their personal touch.

3. Leaves: Raking is not typically the project we look forward to. Turn this chore into family fun by making a game of tag using the piles of leaves as the safe base. Stuff canvas bags with the leaves and make scarecrows for your garden.

4. Chickens Are Fun: So many urban neighborhoods allow chickens. If you are up to the commitment, make a project to build a chicken coop. Together your family can raise the chicks, feed and water them daily and harvest their eggs when it is time.

5. Wash Everything: At least once a year it is a great idea to wash down the patio furniture. Drag out the buckets, scrub brushes, dish soap and get the kids involved. Kids love anything that involves a water hose! Also wash down the kids’ outdoor toys and have them feel responsible for the care of their own things.

6. Birds: Home improvement stores often have an hour course for families to build their own birdhouse from a kit. Build a bird house from a kit or from scratch. There are very simple bird feeders you can make with a peanut butter slathered pine cone rolled in birdseed.

7. Crafting: Painting tea towels or t-shirts can be an inexpensive craft for the family to enjoy and feel proud again every time your helpers dry the dishes. Lay out stamps, stencils, paints, brushes and pictures for inspiration.

8. Experiment: Create a lab experiment to solve a problem or answer a question. Many websites and books out there make this very easy to get started. Encourage kids to use the scientific method and track their findings.

9. Cookies: Or any kind of cooking that can benefit from an assembly line. Of course the measuring and mixing is fun for the kids, use fun shaped cookie cutters, then decorate with icing and candies.

10. Help Others: Volunteer a day at a soup kitchen or make parcels for soldiers overseas. Remembering how lucky you are to be a family is a great feeling.

Family time is so precious and can be free and fun. Don’t forget to keep your camera handy for family project day and make it something everyone looks forward to.