Misunderstanding Will Double Your Tax

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Mar 162024
 

If you have been overwhelmed by articles, advertising and friendly advice about the various schemes to legally avoid California Sales and Use Tax, let me set you straight about how to protect yourself. Aero Marine Tax Professionals (http://www.aeromarinetaxpros.com) handles this type of situation routinely.

First, you must know that your purchase of an aircraft or vessel is not exempt from tax until the California State Board of Equalization (Board) sends you a letter which affirms in writing your transaction is exempt. This may seem a little simplistic, but every month I encounter another taxpayer (the Board’s term for you) who has never filed a tax return, yet firmly believes he/she does not owe tax.

In this case NO NEWS IS BAD NEWS.

The key to this warning is the fact that the burden of proof in supporting a claim for an exemption rests squarely on your shoulders. The Board does not have to prove anything. The taxpayer has to support the claim for an exemption and must file a tax return. Just because you know that your property was used in an exempt manner does not mean that it is exempt. You must have in your possession a document from the Board which affirms they agree you have supported your claim.

In California, when you purchase an aircraft or vessel from someone other than a retailer who collects sales tax from you at the time of the transaction, it is the legal obligation of the purchaser (you) to timely file (self report) a tax return. In general the return is due within twelve months from the date of the transaction.

If you received an inquiry letter from the Board, the due date is located in the top right hand section of the cover letter. The due date on the letter becomes the date the return must be filed and many times is less than twelve months from the date of the transaction.

If you took possession outside the state using an offshore delivery for a vessel, or an out-of-state delivery for an aircraft, it is your legal obligation to timely file a tax return. If you believe your aircraft is exempt because it has been used in a manner that you were told made it non-taxable, your purchase is NOT EXEMPT FROM TAX until you have filed a tax return and received written notification from the Board that you have supported a claim for exemption.

Even if you made your purchase 5-6 years ago, your transaction is not exempt if you do not possess a letter from the Board which affirms you have supported your claim for exemption. Do not be lulled to sleep by the fact that you have not been contacted by the Board. They know they have approximately 9 years after your transaction to legally notify you that you have been assessed tax.

The Board will find you through property tax assessments or during a routine audit of a California retailer who sells you fuel. They do not have to be in a hurry to notify you they are aware of your property. As long as they notify you before the statute runs out they can collect the tax. Imagine getting a notice seven years and eleven months after the tax return due date. You will not only be assessed tax but penalties and interest as well. This will easily double the amount you originally owed.

The Board is in control if you fail to file a tax return. The following example is intended to point out the danger:

John Smith purchases an aircraft for $1,000,000.00 on March 12, 1995. The tax rate in his county is 8%. Therefore, the potential tax is $80,000.00. Mr. Smith registers his aircraft in the name of an out-of-state corporation called Smith Investing, Inc. The corporation was advised that if the aircraft was used in charter operations more than fifty percent of the time it would be exempt from tax. Because the aircraft is registered to an out-of-state address, Mr. Smith believes he has no obligation to file a tax return. During the period of March 1995 through March 1996 the aircraft is in fact used in an exempt manner by being flown on bonafide charter flights more that 50% of the time.

In June 1997 the aircraft is picked up by the county property tax personnel on a random unannounced visit to an airport. The Board runs the tail number through the FAA registration database and discovers the name of Smith Investing, Inc. A further check of the public records reveals a link to John Smith of California. Mr. Smith is now on the radar screen of the Board auditors.

It is the opinion of the Board auditor that a tax return was due by the end of February 1996. He operates from the viewpoint that the statute of limitations will expire in March 2004. (During the late 90’s there was little pressure to assess tax in this type of case. There was no budget crisis. Therefore, Mr. Smith is not contacted.) A reminder flag is set in his file to make sure a notification form is sent to Smith Investing, Inc. before the statute runs out in 2004.

In early 2000, Smith Investing, Inc. sells the aircraft and purchases another.

In December 2002, because of the budget crisis, an inquiry letter is sent to Smith Investing, Inc. at John Smith’s address in California. Mr. Smith ignores the inquiry because he still operates from the belief the out-of-state registration, plus the charter use exempts the aircraft from tax in California.

On November 7, 2003, the Board issues a Notice of Determination for the original $80,000.00 in tax, an $8,000.00 penalty for failure to file plus $65,600.00 in interest. Mr. Smith does not respond. Therefore, on December 8, 2003, the bill goes final.

The collections section at the Board make several attempts to contact Mr. Smith and he continues to ignore them. The Board subsequently files a lien against Smith Investing, Inc. Finally, Mr. Smith hires an attorney to deal with the Board. The attorney discovers that once the bill has gone final, the only way Mr. Smith can get the opportunity to support his claim for an exemption is to pay the $153,000.00 and file a claim for refund.

During the research process to gather the documents which support the exemption, Mr. Smith discovers that the documents were destroyed or lost because no one in the organization thought there was any exposure. Therefore, the assessment will stand. Mr. Smith’s misunderstanding of the laws and regulations have converted a tax exempt purchase into a taxable transaction and doubled the price!

This story is a compilation of several stories I come across every day.

DON’T LET IT HAPPEN TO YOU. If you have the slightest discomfort about your tax status for purchases you have made any time in the last ten years, I will offer a free analysis of your situation.

Don’t hesitate to protect yourself.

CA.TLSSLIM.COM homepage

The Death Of Affiliate Commissions?

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Mar 152024
 

I’ve noticed an interesting trend that I wanted to comment on and hopefully give you an idea of a new unique way that you could generate leads, affiliates, and customers.

For the past 4 years, one of the things that I’ve done to build my business is to run my own affiliate program. I’ve built my affiliate program to over 30,000 affiliates who drive traffic to my sites.

Now, what’s powerful about this is that I don’t pay them anything until AFTER they make a sale…

So they make a $97 sale – I give them $50. Something like this usually happens.

But just recently I’ve seen a unique trend…

Instead of paying commissions on product sales (pay per sale), some people (and lots of large companies) are paying commission on leads sent to a website (pay per lead or PPL).

That person doesn’t have to buy ANYTHING… They just fill out a form and become a lead – and you get paid!

Now, before we get deep into the logic behind this, I want to show one example that I saw last week in the internet marketing niche – that was brilliant.

Mike Filsaime put out his now famous “Death of internet marketing” report. In it he talked about how everyone and their dog is launching products, and how it’s killing this niche, and what to do to overcome it.

It was a great report – I printed it out and read the whole thing and recommend that you do too.

BUT….

What was most interesting to me was the fact that he wasn’t selling the report, he was giving it away free!

You can check it out here:

http://www.dotcomsecrets.com/reviews/deathof
Now, a few important things I wanted to point out here are:

1st – if you downloaded that report from the link above – Mike sent me $1

2nd – if you get anyone else to download that report – Mike sends me $1 AND he sends you $2

… And he’s not charging a cent for it!

Crazy? At first you may say yes – until you realize a few things.

1st – Mike understands the lifetime value of a customer. Mike and I have had this conversation a few times, and we both know and understand that we can and should be making $1 per name per month from everyone on our email lists.

(with an offline direct mail list, it’s usually 4-5 times that much – so be sure to gather offline info!!! – notice that Mike did?)

So – if we have a list of 20,000 names, we normally can make $20k a month from that email list.

2nd – From this campaign, Mike generated a fresh, double optin list of over 30,000 new names during the first 48 hours that this report was available… and probably closer to 60k+ now.

So – it’s going to cost Mike probably somewhere in the neighborhood of $100k for letting people download this report.

Seems crazy until you know the lifetime value of a customer. Mike’s new list will pretty easily generate him $30k X 12 months = $360,000+ this year. (and just think if he sends some direct mail to them also)

Would you trade 100k for $360k? I sure hope so.

So, seeing this made me really think more about PPL.

One of my close friends Keith Baxter owns a fast growing PPL company called ModernClick. You can get yourself an account to sell products OR to promote other PPL programs here:

http://www.dotcomsecrets.com/reviews/modernclickPPL

I went in there, and started to look to see what type of things I could get paid for telling others about.

Here are just a few things that I found:

1st – some ebay course that you can get shipped to you for like $2.95. When I get someone to fill out the form, and pay the shipping costs, I get paid $12.80. Check out the course here:

http://www.dotcomsecrets.com/reviews/ebayPPL
2nd – Here’s eBay ANOTHER course that I get paid $18 everytime someone becomes a lead (NOTE: they don’t have to buy ANYTHING!!!)

http://www.dotcomsecrets.com/reviews/ebaymillionsPPL

3rd – Bargin Auto’s pays me $20.80 when someone fills out the membership trial!!!

http://www.dotcomsecrets.com/reviews/barginautosPPL


Ok – those are just 3 examples out of hundreds in tons of different niches that are in modernclick! … now, if that doesn’t get you excited… the I’m not sure what will.

So – there are a few things I want you to think about with PPL

1st – Should I be using this instead of Adsense? (the answer is almost ALWAYS YES!!!)

2nd – Should I be offering PPL for my affiliates? (Some affiliates would rather get paid a $ for each referral then for each sale… and if you know how to work a list – it could cost you a lot less to make a lot more)

3rd – (and this one is especially for those who took Stu McLaren and my affiliate inferno course) Should you offer PPL when people get others to signup for your affiliate program? What if it cost you $20k to get 20,000 affiliates? Would that be worth it if each affiliate averaged you $1 or $2 in sales per month?

So – with that said… think about PPL. Will this be the end of affiliate commissions? Probably not, but those who capitalize on PPL now are going to have a huge advantage over those who don’t.

If you’re looking for a company to earn PPL or to set up your program to be PPL – I recommend Modern Click – again the URL is here:

http://www.dotcomsecrets.com/reviews/modernclickPPL

ALSO – A close friend just launched a new service that will help you to jumpstart your PPL on your own sites. You can use this service to quickly replace your adsense with something that will make you real moolah.

Here’s some info on his new service (this site will become one of my secret weapons. I’m already working quickly now with my adsense/SEO team to implement this service ASAP):

http://www.dotcomsecrets.com/reviews/PPL-Power-Ads

To add your comments to this article please go to:
http://www.dotcomsecrets.com/blog/2006/11/the_death_of_affiliate_commiss.html#more

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Fall Camping Reverie

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Mar 142024
 

Time for one of those columns journalists pull out of their hat when no single thread wants to develop into an article…

• Our family camped and toured through the Rocky Mountain House/Nordegg area of western Alberta this summer. Base-camp for a week was at David Thompson Resort located just off Highway 11 and backing onto Abraham Lake. For raw beauty, there are few areas in North America that compare to it. One afternoon, as we stood overlooking the lake, a couple from Washington exclaimed they had never seen anything like it. The pristine shade of blue waters combined with the snow-covered, jagged peaks of the Rockies made for postcard material. Facilities at the campground were comfortable with most amenities available right on the grounds, including gas. A half-mile down the road helicopter tours were available, as well as horseback riding on the opposite side of the highway. The surrounding area is also a hiker’s haven.

We took an afternoon to drive the Ram River Falls Loop which goes south from Nordegg and returns at Rocky Mountain House. The falls are impressive, and there are a number of primitive camping spots located along the loop, many of which are free. Though the main road is good (gravel), you should have the right vehicle to access the remote camping areas. (Your Honda Accord with a tent trailer behind may not cut it.) Again, the scenery is splendid. Friends of ours have even observed one of the few remaining herds of North American wild horses that roam the area. We hoped to see them ourselves but were disappointed.

We also made it to another of my favorite spots this summer: Marten River Provincial Campground on Lesser Slave Lake. The lake is very large, like being on the ocean, except that the water is shallow for quite a distance from shore. This, along with the beautiful sandy beaches, makes for lots of fun for the kids. The campsites are spacious, level and private (surrounded by large evergreens and lush foliage). This campground is reasonably priced and well maintained, has showers and free firewood. The amenities are basic, but clean. Excellent summer getaway spot.

• Rising oil prices are becoming an issue for the camping/RV industry. We spoke with Carston Urban of the RVDA to see if the Association has noticed any trends. Are people venturing out less, making vehicle changes, etc.? The only significant thing he has noticed is a swing from fifth wheels to travel trailers. They are lighter and allow more options for pulling. Certainly manufacturers have made some excellent advancements in the variety and quality of ultralights and hybrids (travel trailers with tent trailer extensions). Look for this trend to continue.

• There is a strange policy among many campground owners regarding reservations/refunds that the industry needs to re-evaluate. One resort we stayed at this summer (booked by phone well in advance) required the full week’s payment by credit card with no cancellations within 14 days and no leaving early (if you wanted a refund, that is). Apparently this is quite common.

The hotel industry is much more reasonable. Many hotels require only a partial deposit and allow refunds up to 24 hours before arrival. In chatting with the owner about this he cited the need to recover costs from vandals and deadbeats, and the difficulty of re-booking a site if vacated early. The logic doesn’t add up though. If the campground is busy (and the customer wants to leave early), there certainly will be no trouble in re-issuing the site. And if the resort isn’t busy, well, what’s the problem? There are plenty of sites to choose from for any new customers.

Owners need to remember the best way to recover costs from vandals and deadbeats is to keep your good customers happy and coming back. And making them swallow half a week’s deposit or forcing them to endure three more days of rain-soaked camping is not the way to do it…

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“Gold, a Hedge against the Perils of Interesting Times”

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Mar 132024
 

Timothy Malone – While paper-based investments and real estate are vulnerable to effects of changing times, gold soars. A precious metals investment may save a portfolio when all else fails.

The old Chinese curse, “may you live in interesting times”, has particular relevance to the current epoch of U.S. history. There’s a lot going on right now, much of it scary. Major investors around the world are responding to the events of our perilous age by sinking their dollars, deutschmarks and yen into gold, silver and palladium; Bill Gates, Warren Buffet, and billionaire speculator George Soros to name but a few. Big financial institutions like the Central Banks of Russia and China are also leaping onto the metals bandwagon driving the price of these precious commodities ever higher.

This is spurring a gold rush not witnessed since the Misery Index years of the 1970s. Many financial experts now view gold in particular as an island of stability in a paper-based investment market growing stormier all the time, a development that bodes well for everyday folks who want to shore up their retirement accounts with a precious metals hedge.

“People the world over are losing faith in politicians, and currencies,” says Marc Lubaszka, President/CEO, World Financial, a highly successful investment firm specializing in precious metals based in Studio City, Calif. “This has resulted in a flight to gold and other precious metals, a storehouse of value for more than five thousand years. Investors are taking their money out of paper assets, and putting it where it is likely to earn a better return in uncertain times.”

Old Reliables Unreliable
Investments once considered as stable as granite are rapidly losing ground, Lubaszka explains. Real estate is but one example. Long praised as a slam-dunk by money gurus, home-buying is no longer viewed as a hurdle-free path to profit. Stratospheric pricing and higher interest rates are putting intolerable pressure on the current housing bubble, factors bound to bust the suds sooner or later and drive the overheated real estate market into deepfreeze.

“The housing bubble will burst rather than gradually deflate, following the rapid and violent pattern of decline of nearly every financial bubble throughout history,” Lubaszka says. “Higher interest rates negatively impact not only the health of the housing market but other economic segments as well. The stock market takes a hit because higher rates make it more costly for companies to pay for debt. Higher rates hurt corporate profit margins and reduce stock value, bad news given the deep debt situation so many companies are in today.”

Paper is Passé
According to Lubaszka, the U.S. dollar has lost more than 80% of its original value since the early 70’s when we went to a floating currency, a situation not helped very much by the debut of the Euro in the late 1990s. Unlike American dollars, a portion of the Euro is gold-backed, a stability feature that has helped it outperform the dollar over the long haul. It is for this reason that many foreign investors have been taking money out of U.S. dollars and putting it into gold and oil instead, one explanation for why the price of both has continued to rise in recent months.

“Gold prices are climbing right now because the Federal Reserve is printing dollars in flood proportions to keep the real estate market afloat,” adds Richard Russell, editor Dow Theory Letters, a stock market trends and securities report published since 1946. “This is creating inflation, which erodes purchasing power. All the world’s central banks are inflating right now, reducing confidence in paper globally and encouraging gold-buying. India and China are spurring gold prices as well. India is the world’s largest gold-consumer, and the Chinese government is actively encouraging its citizens to buy gold.”

All are extremely encouraging signs for gold investors. Over the course of the past 35 years, gold has climbed in value from a modest $35 an ounce to nearly $600. Contrast that with the battered U.S. dollar, a currency currently worth only 20% of its value in 1970.

“When gold peaked-out in the 1970s, interest rates were at an all-time high,” Lubaszka says. “Right now we’re waiting to feel the effects of the last 9 interest rate increases which generally take 6-9 months to begin impacting the economy. Now’s the time to buy gold because when rates go up, downward pressure is exerted on real estate, stocks and bonds and commodities like gold tend to increase. The opposite occurs when rates travel from a high to a low. That’s the time to reduce gold assets and increase the paper part of a portfolio.”

Buy Without Getting Burned
Michelle Henderson, a talent agency owner in Los Angeles, Calif. understands the stakes when it comes to investing. “As an agent I work in a commission-based world, and have to invest in both people and ideas all the time,” she says. “Though I’d had bad experiences with stock investments in the past, I knew I would eventually find something that would work for me. I invested in a diversified metals portfolio made up of palladium, silver and gold, and earned a profit of 38% with the palladium alone. Staying focused on making money, and following World Financials advice, I was able to earn an above-average return and greatly increase the overall value of my assets safely.”

Lubaszka explain, “It’s probably best for the first time investor to begin conservatively by purchasing physical metals instead of gold stocks, which can be very volatile”. According to Clearwater, Fla.-based talk show host and gold analyst, Tom O’Brien, when metals gain 20%, gold equities jump by fifty or sixty per cent. That’s great when it happens but the reverse can occur as well.

Buy gold bars or coins, and put them in a safety deposit box. If you chose to purchase coins from a coin shop, make certain you pay the lowest price possible and that they have a buy back policy. If you elect to go with a broker, fees will be inevitable because you are purchasing a tangible commodity.

There are brokers, and then there are brokers. The best of the breed will answer all questions, and make the process of first-time gold buying less nerve-wracking. Great brokers are also accessible when needed, and quick to call with any new information that affects the value of the investment.

Work with established companies, five years in business is good, ten even better. Don’t bother with firms that badger you with telemarketing offers or apply high-pressure sales tactics. Avoid paying high commissions too. Some brokers have layers of fees, through which they earn more money then they do investing on behalf of customers. There are also companies out there that will not buy metal back. Stay away from them as well.

“Check references and Better Business Bureau ratings”, Lubaszka adds. “Deal with a company that takes an active interest in doing business with you. World Financial, for example, offers a five-star customer satisfaction guarantee. If questions are not answered or we fail to respond to a prospect’s call or email within 24 hours, that person receives a one ounce silver American Eagle coin free of charge. A financial advisor’s job is to ease the investment process, and to insure that customers get the most for their money. Good advisers are merely good, but the best are worth their weight in gold.”

To contact World Financial directly call 818.264.4085. World Financial is the premiere provider of precious metals to investors nationwide. Aside from offering numerous incentive programs, World Financial offers clients the right type of precious metal strategy for every investor’s needs. They are located at 12198 Ventura Blvd Ste 200, Studio City CA, 91604. http://www.worldfinancialdaily.com

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Exquisite History of Wines

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Mar 122024
 

To make a white wine, once grapes are brought to the winery they are de-stemmed and crushed before anything else is done. A machine is used to split the grapes to remove stems and stalks from each bunch because they contain astringent tannins, which might be acceptable for red wines, but are rare in whites. To stop the fermentation process from starting and turning the grapes brown and oxidizing a chemical called Sulphur Dioxide is added to the grapes. For those with allergies to Sulphur Dioxide, “sulphur-free” wine is produced as well, however the lifespan on this wine is much shorter and needs to be consumed quickly.


Wine has been called the elixir of happiness “” and not without good reason. It is hard to imagine any party or celebration without any representative from the vine. This is probably why people have always assumed that wine was born right next to man.


But how did wine really originate? Who came up with the idea of fermenting fruits with the purpose of making the alcoholic beverages?


Records of the use of wine go back all the way to ancient Egypt in 2500 BC. But it is not implausible that wine was used earlier than that. Evidence seems to point to the Ancient Middle Eastern civilizations as the originators of wine.


Early man probably stumbled upon the wonders that fermentation did to fruits (especially grapes with its high sugar content). Archaeological excavations have unearthed ancient wineries and fermenting pools. This is a testament to the popularity and early knowledge about wines.
Learn the art of Wine Tasting


Wine, for that matter, has been used for a startling variety of purposes. In the early days, aside from being the choice beverage for celebrations, wine was also used symbolically in religious sacraments, and during taking vows. There is even evidence that wine was used as medicine for frail countenances, and as an antiseptic for wounds. That is why wine has maintained an importance beyond that of making one drunk.


The popularity of wine spread from the Old World and its cultures to the newly found lands annexed by their empires. From here the cultivation of grapes needed for winemaking spread to the lands of South America and Australia.


The enology, or the study of wine making, of different cultures has made for a dizzying variety of wine. The main types of wine are Table Wines, Sparkling Wines, and Fortified Wines.


Table Wines are pressed grape juice that is allowed to ferment naturally “” with or without a little addition of sugar and yeast to aid the fermentation. These wines can be sweet or dry, depending on the vinification (or fermentation style), and they typically have a low alcohol content of 7 to 15 percent.


Fortified Wines have additional alcohol content in them and are have typically 14 to 23 percent alcohol in them.


Sparkling Wine was first discovered in the 18th century by a monk named Dom Pierre Perignon. Sparkling Wine is wine witch has a bubbly texture to it lent by the carbon dioxide that forms within it during the fermentation. Technically, it is a doubly fermented wine, with the second fermentation happening in the bottle itself. Extra yeast and sugar is added to the wine to produce carbon dioxide that builds up until the wine is uncorked.

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How To Make Homemade Wines

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Mar 112024
 

Prepare the Produce. First, inspect the fruit to ensure the grapes are ripe and free of insects or other contaminants. Put the grapes in the straining bag and measure the sugar level using your hydrometer. A hydrometer can be purchased at any wine making store. The sugar density should be 22 ideally. Also, remember to remove the stems from all grapes in order to make your wine smoother and sweeter. Finish this step by transferring the ingredients into the jug. Wine has been an important part of any occasion. It is commonly made from fermented grape juice, flowers, and grains. Countries like Italy, Portugal, United States, and Argentina are among the largest exporters of different wines.
Art of Wine Tasting.


The most expensive kind of wine is called “vintage”. Vintage wines are made from the highest quality grapes that are harvested several years before they are sold to the public.


While some wines are very expensive, there are some of good quality and that are relatively inexpensive. Among these wines are homemade wines that are commonly served to show old English hospitality.


Home winemaking is an exciting hobbiy designed for people who love social drinking or who are fond of giving away wine as gifts. Here are some tips on how to make homemade wine:


1. Get fresh produce from fields and orchards that let buyers pick their own fruits. Another option is getting fruit concentrate being sold by local winemaking stores.


2. Buy equipment needed in home winemaking. These are fermentation locks, Demijohns, plastic funnels, trial jars, siphon tubes, and wine bottles with corks.


3. Gather necessary ingredients to put flavor and a distinct taste to the wine. These are yeast, pectic enzyme, wine tannin, acid blend, and campden tablets.


4. Get recipies of the favorite wines to have accurate information about the exact amount of ingredients to use. The tip in making the best wine is accurately mixing ingredients to achieve desired taste.


5. Use fermentation bags in collecting pulp and submerge it into the wine mixture. Set aside covered fermenter within 24 hours.


6. Put yeast on the grape juice surface and cover it. Let the mixture ferment within 7 days.


7. After 7 days, discard pulp and siphon the mixture to prepare for secondary fermenter.


8. Add water to the wine mixture and allow it to ferment for 4-6 weeks or until it appears completely clear. Use hydrometer to make sure fermentation has been completed. Hydrometer should show 0.989 and 0.990 on its gravity scale.


9. The wine should be cleared completely after following the first 8 steps. After that, siphon the wine and add five crushed campden tablets.


10. Bottle the homemade wine and let it age.



Today, the best wines on the market are home made. They are surprisingly delicious and inexpensive. Anyone can make wine by simply following these 10 basic steps and then you can start impressing friends and family members during get-togethers.

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Florida Investor Network Pursuing Condo Hotel Market

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Mar 102024
 

The FloridaCondoInvestor.com network (www.FloridaCondoInvestor.com), a web based investment group, announced today that the group will acquire Condo Hotel units throughout Florida in the upcoming year.

A condo hotel offers the opportunity to own an elegant and exquisitely furnished hotel room in some of the most desirable locations in the world. Since this is a purchase, the buyer not only gets a deed to the property, allowing the sale or transfer of the unit, but also tax and real estate appreciation benefits. When using the unit, the owner has access to all of the amenities of the hotel. When not in use, the unit can be a available to rent through the hotel’s rental program.

The number of units available today from conversions has swelled recently, and the success of these projects has given new life to older hotels in Florida. The demand for new construction has been extremely strong as well.

A major benefit to an owner of a Condo Hotel unit is stress-free ownership. When the unit owner wants to use the unit, they call the hotel and schedule a visit. During their stay, they enjoy all of the amenities and services of the hotel. When the unit is not being used, it can be rented through the hotel’s rental program, with no worry about maintenance and upkeep.

The hotel is generally managed by a brand-name hotel operator. This operator not only manages the hotel’s rental program, but also markets the units, takes reservations, operates the front desk, maintains the property, and provides the services hotel guests expect, such as housekeeping, food and beverage, spas and concierge.

Condo Hotel units are difficult to finance. FloridaCondoInvestor.com’s prefererred lender, Maranatha Mortgage (www.MaranathaMortgage.com) has access to special financing for Condo Hotels.

The number of developments coming online has well outpaced the institutional lenders that have a desire to fund condo hotel purchases. These loans are considered “portfolio” in nature, and will in most cases be held and serviced by the lender who originated the loan, or a number of loans will be packaged together and sold to private investors. Since there is a lack of a true secondary market, many lenders do not actively seek to originate condo hotel paper.

It is particularly difficult to finance units less than 600 square feet that may or may not have a kitchen. This primarily affects the conversion market, as most of the units are true hotel rooms, and do not have the room for a kitchenette. The square footage number and kitchen requirement stems from the older “condominium” guidelines set by Fannie Mae, and many lenders have not updated their own guidelines to accurately reflect the unique characteristics of condo hotel properties. As a result, this is very much a niche loan product.

Aside from the real estate taxes, insurance and a mortgage payment (if there is one), there is a monthly assessment that covers maintenance of the unit and common areas, furniture replacement, utilities and a reserve fund.

Is it mandatory for the unit owner to be in the hotels rental program? Sometimes yes, sometimes no. Each development has different programs. In general, the rental program is voluntary, with a set amount of days per year the unit can be used.

The rental program is managed through a special reservation system that assigns “rotation points” to the units as they are occupied. This ensures that the units with the least amount of points are the next to be rented as long as they meet the guests’ requirements.

When the unit is being occupied by the owner, his friends or family, the hotel’s rental program does not assign any rotation points to it. Thus, you are encouraged to use your unit since the system will make up for the vacancy of the room upon your departure.

Typically, the revenue is split 50-50 between the owners and management after expenses and HOA dues.

If the unit owner decides to participate in the hotel’s rental program, he will receive a portion of the revenues from his unit. However, it is at the discrection of the management company to share the revenue from any of the hotel’s services (i.e. restaurants, spas, shops).

Anyone who is interested in real estate investing and would like to join this network at no cost can sign up at www.FloridaCondoInvestor.com. There is no cost to join the FloridaCondoInvestor.com network; Just the opportunity to work with some of the best in the business. Investors will have access to a million dollar database of Attorney’s, CPA’s, Mortgage and Real Estate specialists on every deal.
FloridaCondoInvestor.com is a web based investment group. Their philosophy is to locate excellent buying opportunities throughout the state of Florida and help their members create positive cash flow.

To contact Mike Linton for more information:

DiMucci Realty Company
Mike Linton / Realtor
3424 S. Atlantic Ave.
Daytona Beach Shores, FL 32118
(386)299-9275
www.FloridaCondoInvestor.com

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Free Adult Dating Site: Find Out What You Need To Know

 free  Comments Off on Free Adult Dating Site: Find Out What You Need To Know
Mar 092024
 

With the advent of the Internet, with its chat rooms,
personals, free dating services, and even the paid sites, finding someone to
date has become easier and harder at the same time. Today, there are many free
online dating services as those that require memberships.



However, one of the reasons these free online dating services are not as popular
as those that require membership fees is that almost 45% of the single adults
who use these dating services are actually looking for serious relationships.



Here are some guidelines to remember when looking at free online dating sites.




1. Privacy policy

Even a free online dating site has to have its own privacy policy. This means
that online dating sites should never sell or use their member’s e-mail address
or personal information for anything else. Privacy policies usually are long and
full of legalese, but make sure you read it before posting anything on an
on-line dating site!



2. Background checking

It always pays off to do some checking before committing to a certain online
dating site. Read not only their promotional “success stories” on the site, but
also search and see what people are saying away from the site. It’s also best to
find a site that has a larger membership database. More members means more
choices.



3. Extra features

Not all free online dating services are created equal. So, even if they are
free, some can provide greater features compared to others.



4. Log-in safety measures

Even if the site seems okay, remember never to use your real name when creating
a user name or use an e-mail address. It is always best to maintain certain
level of secrecy for your security. Make sure you do not put any



5. Try before you sign up

Most internet services for dating let you test out their service for free. Some
let you enter your information and search the database but if you want to
contact anyone then you need to sign up and become a member. This system works
well for all as long as you follow the recommendations above.



So, whether or not free online dating services are favorable over paid services,
one thing should always be kept in mind: One’s safety should always be on top
priority. Never give out your address, meet your date in a neutral location with
lots of people, never get into the car with your date, and just practice some
common sense.

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