Low budget travels could be enjoyable provided you make a little bit compromise on your dreams. If you are filthy rich with thousands of extra bucks in your bank, do not read further. Most of us are full of dreams and always short of cash. Fortunately, there are means of enjoying a vacation that fit your tight bank balance. All you need is to go a step down in your dreams.Travel tips for low budget travelso Go to a cheap destinationCountries with low cost of living are ideal destinations for low budget travels. Unless you want to boast to your colleagues about your travel, choose a lesser-known destination. There is not much difference in the seashore of Europe and Latin America or Asia or Africa, other than the cost of living. You will get the same relaxation to your body and the same cool breeze. The hotels, transportation, food and beverages are economic in lesser-known destinations.o Go one-step down for hotelsThe other mantra of low budget travels is “do not pay for those things that you do not need to use”. With almost same facilities, a 5-Start hotel will charge twice what a 4-star hotel will charge. Most travelers use hotels for sleeping in night. So there is no point to pay for many facilities such as swimming pool when you do not intend to use them.o Friendship with localitiesTry to be friendly with the local people and you will get travel tips for cheap stuff everywhere. Talk with people about the country and get some cheap travel tips about the room rates and hotels. A taxi driver will guide you to cheapest hotels if you tip him a dollar. However, cheap is not everything, make sure that the location of the hotel and the hotel itself is safe.o Local travel agent compared to travel agent in USFor low budget travels you can directly deal with travel agents of the country of your destination. Plan your trip with a local travel agent in the destination country. There are many websites offering huge discounts on packages. Local agents have better contacts and they can offer cheaper packages. Most US travel agents are business partners of the local agents offering same packages at higher rates.o Airline and hotel combo offersMany airlines are offering free stay at some airports with their tickets. If you have a short trip as if for one week, you can prefer to travel with the offering airlines. Make sure that the airport is not far off from the town; else, you will end up in paying your saved amount on the hotel bill to the taxi drivers.
Benefits of an LLC For Rental Property Owners
Rental property owners are entrepreneurs. And as entrepreneurs, their primary goal is to maximize profit. One of the most basic steps in maximizing profit is to minimize costs and other liabilities. Recently, the up and coming trend of protecting one’s personal assets from the liabilities of a rental business is to set up an LLC over the rental properties. With this LLC, the rental property owner’s personal property, like home, car and other assets, are protected from the unpredictable demands of owning rental property. There are also other benefits of an LLC for rental property owners.Personal property protectionFirst of, what is an LLC? LLC stands for Limited Liability Company. Without the LLC, business owners are liable for damages and other losses from their business even with their own personal assets.To illustrate, a sole-proprietor will have to pay for anything and everything that deals with his business out of his own pockets. He can never interpose that his business is bankrupt when he still maintains a personal bank account, his own car and his own home. His personal assets will have to answer for the deficiency. Corporate shareholders do not have this problem because they are protected by the law on corporations that shareholders are only liable for losses out of their corporate shares, hence, their personal property is protected and remains untouched by any corporate liability. The downside of forming a corporation though is that the process itself is meticulous and profits will have to be shared with a handful of shareholders.LLC combines the ease of being a sole-proprietor with the potential of earning huge profits all by yourself and the protection to personal assets that corporations offer. Personal property protection is the most basic and primary of the benefits of an LLC for rental property owners.Tax advantagesAnother of the benefits of an LLC for rental property owners is the tax advantages. Has even better tax treatment than when in a corporation. A corporate shareholder in essence will have to pay taxes twice. First, when the corporation itself pays its taxes, and second when the shareholder has to pay his own tax from the income derived from the corporation. An LLC is not taxed as a separate entity. The property owner will only have to pay his taxes once, upon his receipt of the income from the rental property. Also, the net loss in the LLC can be declared as a personal deduction for the property owner!Be a professional by nameReal estate laws require one to spend a certain number of hours in real estate activities to be called as professionals in the real estate industry. But being in an LLC, these requirements are cut in as much as half!An LLC may be obtained for separate propertiesAnother of the great benefits of an LLC for rental property owners is that a different or separate LLC may be obtained for each and every property. Why is this beneficial? Because when an investment is sued covered by an LLC, all the properties belonging to that LLC will stand liable for the suit. Covering separate properties with separate LLCs will only make the specific property or investment liable for the claim it is sued for.These are only the basic benefits of an LLC for rental property owners. And these are already enough to convince any serious business-minded property owner, what would a more detailed study of the benefits do? Start protecting your own personal property and increasing your profits all in the same time. Get an LLC now!