Modern Office Chair - Features and Functions

A modern office chairs as many good features and functions. Before you purchase your own office chair, you must make sure that the furniture has the following features and functions.

First is the backrest adjustment, which help in preventing and even alleviating whatever discomfort that is associated with the long hours of sitting. Its features include backrest height, tilt and horizontal backrest movement. Backrest height permits you to select the right height what will provide ample support to your back while backrest tilt allows you to adopt various posture while keeping great back support. On the other hand, horizontal backrest movement will allow you to move from one side to another, allowing to chair to go deeper for the one who needs it.

Chair height adjustment is one feature that all office chairs must possess. Pneumatic lever is one common means of adjusting the height of the chair, allowing you to make adjustment while being seated. Old styled office chairs require the sitter to place his foot at the chair base then have it spun around in order to raise or lower it.

Seat pan characteristics are what you also need to check on an office chair. When checking on the seat pan, you must see if it has a rounded edge as this will eliminate uncomfortable pressure behind your knees or back of legs. When it comes to the debt of the seat pan, there must be some space measuring the size of a closed fist. This way, there will be proper blood circulation for your legs. In case of the fabric of the seat pan, it must be permeable and durable in order to dissipate heat as well as moisture.

Armrests are another part of the chair that needs to be checked. It is important that an armrest does not interfere with tasks being done. It must not impede any movement that you need to make. Armrests are useful for editing, reading and doing chores on your desks.

Stability is a very important feature of an office chair. Ideally your furniture must have a 5 pronged base along with the proper casters. Do not settle for the 4 pronged chairs as they are prone to be less stable and tend to tip backwards or sideways as a user leans whichever direction.

For more interesting and engaging articles on modern office chairs and office and company chairs and furniture in general, do visit our Chair for Office blog.

 

Rolling Over Your Retirement Account to an IRA

By Michael Aponte

Before I begin here are some Traditional IRA Facts as of 2009/2010:

- Tax deductible contributions of $5,000 ($6,000 age 50 and above)
- AGI (Annual Gross Income) for deduction is: Single= Head of household is more than 55,000 but less than 66,000 and Married= 89,000 but less than 109,000 if filing joint
- Withdraws begin at age 59 1/2 and are MANDATORY by 70 1/2
- Taxes are pain on earnings when withdrawn from IRA
- Can purchase investments such as Stocks, Bonds, Mutual Funds, ETFs, CDs, Treasuries, etc.
- Funds withdrawn prior to 59 1/2 are subject to a 10% penalty
- With some exceptions such as purchasing a 1st home, educational expenses, and certain medical/disability expenses. Highly recommend AGAINST this unless it is VITAL. Sometimes the IRS will see this and may surprise you.

Rolling over your retirement plan from a previous employer to a Traditional IRA (in case you are wondering, IRA stands for Individual Retirement Account) is very simple but if you don't do it correctly it will cost you! First the benefits on WHY you should roll the account over:

1) You can roll over your retirement plan to a traditional IRA REGARDLESS OF INCOME LIMITS!

1a. This is because the funds already in your account are "qualified".

2) You have MORE investment options: This is a big one! Traditionally you are only allowed to invest in mutual funds (as of writing this article, but there has been talks of adding ETF's which would be fantastic!). These mutual funds are chosen by the employer and the adviser/consultant who manages these assets. In a IRA you can choose between almost anything that you can traditionally invest in such as Stocks, Bonds, Mutual Funds, ETFs, CDs, Treasuries, etc. Think of an IRA as a regular brokerage account EXCEPT it has MAJOR tax benefits.

3) NO TAX EVENT will occur when you do this correctly!

3a. Will explain HOW to do this later in the article

4) You will have more control over your assets knowing it is secured in a place that you have access to instead of having the assets with the previous employer.

5) IRA's can be very easily put into an estate plan

6) You can continue contributing to your retirement account (as of the writing of this article: $5,000 max!).

7) If you already have an Rollover IRA, you can simply deposit it over to your current rollover IRA or open a new IRA and still contribute both IRAs (Again, max COMBINED is $5,000)

7a. Ex: Contribute IRA 1 with $2,000 and IRA 2 with $3,000 = $5,000 per year

Now these benefits are great and just having more investable options is fantastic! Now there can be slight problems if you don't do this correctly so I have put in Scenarios with Solutions on HOW to rollover your previous employers retirement account to a Traditional IRA:

Scenario 1= Avoiding 20% withholding:

You leave (or were let go from) a previous employer and you have been smart enough to invest in your retirement plan. Now you have X amount of funds in your retirement plan. You request to withdrawal the account and figure out what you will do with the funds later. Because you did this YOU WILL HAVE TO PAY 20% TO THE IRS!

Solution 1= "Direct" Rollover (also known as Trustee to Trustee rollover or transfer)

The previous employer will have you fill out some paperwork (usually 1-2 pages with signatures, initials, and check boxes) to make sure it is a "Direct" rollover. They will then send you a check. The check will look more or less like "(Name of Financial Institution), for the benefit of (your full name)". This will show the IRS that you have no intentions of using the money and it will be deposited to a qualified retirement account. This will avoid a 20% withholding. HOWEVER, you will have 60 days to deposit the check (I highly recommend just having the check sent directly to the financial institution. This will avoid any complications that may occur). There are no "extensions" or holidays taken within those 60 days. If you fail to make that deposit, you will be paying federal taxes!

Scenario 2= Leaving your assets with the previous employer:

You simply are too busy to open a rollover IRA or you simply just feel its fine where it is. Several things can happen: 1) you will have hardly any control on what you want to invest. 2) You are limited to what the employer is offering. This is called "opportunity risk". 3) If something was to happen to you, it will be a bit more difficult for the beneficiaries to receive the money (IRA's are a lot simpler and can be put in estate accounts much easier).

Solution 2= Just take a few minutes of your time and open a Rollover Traditional IRA. You can find a custodian in most financial institutions and advisers are always more than happy to open one for you (they are my personal favorite accounts because it is very important, tax friendly, and the freedom of investing within the clients risk tolerance is there).

Scenario 3= Rolling over your retirement plan into a new employers retirement plan.

Solution 3= Please re-read the "WHY" section 1-7.

As per the Roth IRA 2010 changes to Roth IRA that will eliminate AGI limits, there is a possibility to rollover your retirement account to a Traditional IRA to a Roth IRA for 2010 BUT I can guarantee that you will pay some taxes (on the growth earned). Please see an accountant for how much you will be spending if you decide to go this route. In most cases you cannot do a direct rollover from your retirement account (401k, 457, 403b, etc) to a Roth IRA. You must 1st rollover the account to a Traditional IRA than a Roth IRA. Now SOME providers do offer direct rollover to Roth IRAs but there are few and if you can do that, fantastic! (remember, it is best to do this if you think you will be in a high tax bracket well after retirement! I do not recommend this for middle income families)

Remember, this rollover can be done with most retirement plans including pensions and TSP (Thrift Savings Plan). If you have any additional questions please feel free to contact me directly.

Financial Consultant, Risk Manager, Insurance Agent, and Retirement Planner here to give honest opinions on the current financial trends. (*Please note: This is not a solicitation and opinions on this blog are independent and not connected to blogger.com. Please consult with your financial representative prior to applying any recommendations on this blog or twitter. If you have ANY questions, please feel free to contact me. I will be more than happy to chat with you!). http://www.MichaelAponte.Biz

Real Estate Selling Tips - Incentives That Will Close the Deal

By Laurel R. Lindsay

Things can really get tough for home sellers when we are in a buyers market. However, this does not mean that we will have to settle for the short end of the deal. There are still opportunities where you can work out a good deal with your potential buyer. You can use certain inducements and concessions in order to finally convince your buyer to "sign on the dotted line."

With things not going your way in the real estate market, it is essential that you exert more effort in order to make some headway without having to be perceived as being a hard sell. Though the market forces seem to be conspiring against you, a great deal is still achievable with proper planning and concessions which you can present at the negotiation table.

Here are some of the effective concessions or inducements which you can consider in order to close the deal with your prospective buyer:

Closing Cost

You may offer to pay for the closing cost as a concession to your buyer. This will reduce the amount of equity that he has to raise to complete the home purchase. In most cases, real estate deals are easily sealed once this concession is presented on the negotiation table.

Add on Furnishings

This is a viable inducement when selling properties that are located in areas where relocation is very common. Buyers find a deal appealing when it involves a property that is partly or fully furnished. In some instances, your buyer might find a particular furnishing as interesting. You may throw in this furnishing as extra in order to convince the buyer to close the deal with you.

Warranties

The use of warranties is purely a judgment call. You may have to assume the cost of ownership of the furnace, dryer/washer or even the roof and foundation. Buyers are more comfortable in buying a property that is covered by homeowner's warranty.

Gym Memberships, Condo Fees

If the transaction involves upscale properties, you may have to assume this additional cost items in order to clinch a deal with a prospective buyer who is not inclined to shoulder additional cost outside of the home purchase. A fair offer may involve prepayment of these dues for six months.

Rent-to-Own Option

One way to close a deal in a slow market is to allow your prospective buyer to "test-drive" the property. The offer involves giving the right to your buyer to rent the property for a fixed duration before they can finally purchase the property. In most instances, a portion of the rent is applied to the down payment to make the offer more attractive to the buyer. This option may present other responsibilities as you will have to shoulder repair and maintenance for the entire duration that your buyer is renting the property.

Seller Financing

If you already have significant equity on the property, then you might explore the possibility of seller financing with your prospective buyer. This can defray the amount of money that a buyer has to raise to complete the purchase. There are critical issues that you need to seriously consider when you decide to offer this kind of concession to your buyer. It is essential that you hire a real estate attorney to handle the legal matters.

Learn how to sell your own house here: For Sale By Owner If you're looking to buy a home from an FSBO listing check here: FSBO Listings