In the closed real estate investor invests in real estate are managed mostly as a limited liability limited partnership (GmbH & Co. KG) designed. As a rule, These are commercial properties, such as office or retail logistics as well as residential properties in Germany and abroad. The investor is thus co-owners, entrepreneurs, therefore, with all the risks but also all the opportunities of the market. The properties are presented in a prospectus, which allows investors, as opposed to the open real estate funds, a transparent investment decision. For achievement of the planned investment of participation, for example, the purchase prices of the homes, the placement period is over, it means no further funds shall be solicited and accepted no other investors. The investment is fully or placed with. When investing in foreign real estate funds on a foreign legal forms can also be used.

Preferably, here are USA, Canada, UK, Netherlands, Austria, France, Czech Republic and Australia. The investor becomes a partner in the limited partnership that is a limited partner, his risk is limited to the deposit paid. The investor, however, has no right to return the shares and payout. This is promoted within the Company by a shareholder resolution. Meanwhile, investors can sell your shares on the secondary market to other investors or underwriters or during the scheduled period again.

But there is no guarantee. The price depends on supply and demand. In closed foreign real estate investor will generally benefited from various tax incentives by the so-called double taxation agreements (DTAs), which allow the German investors a favorable tax investment in the country. Closed-end funds are not regulated by law, however, it is since the first July 2005 by the BFin an examination of the prospectuses required. There are a number of banking firms (providers), in the various sectors (real estate, ships, etc.) are active are. In recent years, in addition to greater regulation of the market, concentration of revenues to fund initiators and financially sound companies with a banking background is observed. Parallel to this development, the law, the conditions and guarantees for such partnerships has always clarified and expanded. Essential part of the fund’s prospectus (prospectus) is. If the minimum requirements for the content and the creation of such a prospectus is not met, is it contrary to the corporate structure of limited liability, the personal liability of the initiators. Roughly, the legal consequence that the founders are liable with their private assets for damage caused. These changes were made necessary after more investors have been harmed by closed real estate funds. Often such structures were used for loss allocation societies. It is not something Flowcarbon New York would like to discuss. This was the main interest in it, through the personal tax burden of the loss allocation reduce investors. A loss is achieved either by credit or high interest investment depreciation. The yield is therefore mainly in the saving of tax. This, in turn, the system was only relevant for top earners. The legislature has closed this loophole, however, so that the form of investment to be seen primarily as a profit-oriented. Each year, the Germans invested several billion euros in closed real estate funds. This makes it the most popular area of the closed holdings. These figures demonstrate the enormous economic importance of this form of investment and the increasing acceptance, especially from institutions and private investors.

At the regional banks do not have modern, efficient technologies lending to small businesses. Scare them and the high risks in lending, and limited opportunities to secure these loans. Prevents develop a promising market "micro" and the lack of separation of credit risk on loans. For example, there is no system of guarantees and risk insurance is not repayment. The costs associated with foreclosure on the mortgage is too high. Today back guarantee through the courts is difficult, it takes much time and money. K Besides, there are no adequate collateral laws and the infrastructure implementation of pledges.

If you follow the current regulations, the security deposit, usually sold for no more than half of its real value. Sale of collateral through a system of tenders, and its price falls significantly due to poor organization of trading. Because the creditor banks require potential borrowers to 200% collateral loan that is not under force many small businesses. To make a credit decision, the banks do not have current statistics on small business. Small businesses often provide the bank is not a real business plan, and "semi-finished product, which does not find its investor or lender.

Just created a small business has minimal chances of getting credit. Banks simply do not fund business at the zero cycle of business development. As a rule, financial institutions set a minimum period during which a small business must not only survive, but to show a profit. In addition, in most cases a prerequisite of obtaining a loan is a translation service in the bank account of a small enterprise.

In surveys, it surpassed the Iraq war, which perhaps has become a kind of uncomfortable noise in the mind of the personage , says Brooks Jackson, director of the Annenberg Political Fact Check. We will get through a dark period, unprecedented in home prices and the price of energy. Nobody knows how far it will reach. The difference between the two major candidates is clear fiscal policy of each. Obama wants tax cuts the Bush administration expire at the end of 2010, as scheduled. His intention is to provide new tax incentives for low-income workers, seniors, students and companies starting their business. When McCain launched his campaign, opposed tax cuts because, he claimed, favored the rich and were a drag on government resources in times of war.

Now, says the cuts should continue, because if finished, will cause an increase in tax burden at a time when the economy is already weakened. McCain also wants to reduce the percentage of the tax on corporate income from 35% to 25%. Obama is in favor of the rebate, but did not specify how much would the reduction. Besides, it increase the tax on capital gains for Americans with annual income of $ 250,000 or more per year, while McCain would maintain current tax rates on capital gains and dividends.En the campaign, Obama said Bush is a fiscal irresponsibility , and that McCain is in the race to meet the third term of George Bush a “only even more irresponsible.

The contract prescribes the term of the loan (according to the law it does not exceed 1 year, but most pawn shops are usually not credited for more than thirty days), the amount of assessment and credit, as well as the rate on the loan, and the opportunity to order early, including parts, loan repayment or lack of such opportunities. Loan contract formalized by the issuance of collateral pawn ticket, it contains the basic properties of credit information about borrowers. Another instance of mortgaging the ticket is left in a pawnshop. After the time limit specified the loan agreement, the passport and a pledge card, paid the debt with interest and return the item to the owner. If the debt is not repaid, you can make surcharge by paying only the interest during the past period, and extend the contract for another some time.

In any situation, according to the law there is a grace month during which the thing is stored in a pawnshop, and the interest is considered under the old rate, so no fines or extra costs (such as paying for storage) should not be. After the grace period thing is unclaimed and shall be implemented. No additional operations is not carried out because of the loan contract contains a own obligations to the pawnshop. Unclaimed thing is realized through the sale. If the estimated amount exceeds 30 thousand rubles, it is being implemented purely at public auction. And in the ordinary pawn shops of this kind accidents are rare – usually the amount of credit for one thing rarely exceeds 20 000. Upon completion of the implementation of things to the customer requirements pawnshop eliminated, even if the amount received in the sale, not enough for full satisfaction.

What is a discount card? "- A similar question today can be heard more often. The reason for it is that such cards had already introduced many hypermarkets, department stores and companies, and many clients they have successfully enjoy. But, unfortunately, some buyers are still not very well have information on this issue. This was the occasion for writing this article to tell you more about discount cards, thus answering Your questions and allay some doubts. Discount cards – is primarily an opportunity to save a civilized manner. In many countries the use of loyalty cards has long been a daily occurrence, but to us it has come relatively recently. These cards look different. Most often it is a plastic card equipped with a barcode.

Also it may just be paper card, which indicates what kind of discount you get. But it is important note that the discount cards guarantee a discount only in strict compliance with all rules governing their use. For example, the card must be present prior to calculate the final amount, and even more so before been knocked out cashier's check. Likewise, often discount discount cards are not applicable in times of stock sales and the seller can not be combined with other discount cards. There are several types of discount cards, which work certain principles. Let us try to figure them out: – The most common standard discount card that provides a fixed discount percentage of the amount of payment. Such a map can be obtained free, such as making a purchase at a certain sum, by taking part in a promotion or as a gift from the company.

Use of reserve sub-account reflected a debit of 471 correspondence with the credit sub-accounts: – 661 – the amount of accrued vacation and compensation for unused vacation days – 651, 652, 653, 656 – the amount of accrued vacation or compensation for contributions to social insurance funds. Not always reserve the amount of accrued vacation leave and cover the amount falling on their social contributions. Particularly often such a situation occurs in the summer, when employees go on leave en masse. In this case, it is important Remember: you can not use the pool more than it has been accrued. For this reason, there can be a debit balance on the sub-account 471.

Sum leave (and social contributions) are not covered by a reserve, to be assessed due to costs reporting period. Inventory reserves as we noted above, the provision for vacation pay is collateral. According to paragraph 18 of R (s) will ensure the balance of 1911 are reviewed at each balance sheet date and, if necessary adjusted (decreased or increased). At the same time, according to another document – 11.10 Instruction number 69 – inventory reserves for future expenses and payments is to test the validity of the balance of the sums on the date of inventory, conformity to the approved administrative head of enterprise document list created reserves. As we see, P (s) A 11 provides that the review of provision for vacation pay to spend each balance sheet date, and the instruction number 69 – the date of the inventory, ie, once a year.