Paul F. Davis's Blog, page 75

July 9, 2010

ECI Tax Election Form, Foreign Owned Properties in the United States of America

As a global property specialist I am deeply committed to supplying foreign investors interested in buying and owning property in the United States of America the most current tax law as I understand it (and/or recommending the best legal advice within my professional network).

A wise consideration for any foreign real estate investor buying or owning property in the United States of America is to elect to be taxed on a net basis as though the income is connected with a U.S. trade or business.

Upon making this election, changing it thereafter requires IRS approval - not impossible but usually cumbersome requiring some lengthy paperwork, documentation and sometimes skillful legal representation.

Typically a foreign taxpayer cannot switch between taxation on a net basis one year and 30 percent withholding gross basis the next unless authorized by the IRS. Yet all things are possible if you can persuade the IRS.

By failing to file tax returns on a timely basis a foreign investor risks losing the ECI election and thereby makes rental income earned subject to the 30 percent withholding taxation requirement.

Electing to be taxed on a net basis can help avoid costly withholding on gross income and allow for deductions for operating expenses to reduce tax liability. The choice between the net tax election or 30 percent withholding on gross must be considered in the context of the taxpayer’s overall tax liability — both in the United States and worldwide -- given the investor's goals (in regard to citizenship, commerce and domicile).

Instructions for Form W-8ECI, Foreign Person's Claim of Income Effectively Connected with the Conduct of a Trade or Business in U.S.

Department of the Treasury Instructions for Form Internal Revenue Service W-8ECI (Rev. February 2006) Certificate of Foreign Person’s Claim That Income Is Effectively Connected With the Conduct of a Trade or Business ...
http://www.irs.gov/pub/irs-pdf/iw8eci... - 32.0KB

For further information please don't hesitate to contact me.

http://www.PaulFDavis.com - global property specialist, debt arbitrator, worldwide speaker and author

info @ PaulFDavis.com

407-967-7553
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Published on July 09, 2010 12:14 Tags: eci-tax-election-form, foreign-owned-properties

Student Loan Appeals, Complaints, Unfair Treatment

As a certified debt arbitrator to help people regain peace, live free and fulfill their future dreams I want to help people stressed out and suffering.

http://www.PaulFDavis.com - Debt Arbitrator, Global Property Specialist, Consumer Advocate

info @ PaulFDavis.com

407-967-7553

Let's face it, life and loans are not always so cut and dry. I know I couldn't easily "fit" in all the boxes when I applied for my student loan.

I had been hit by a drunk driver that totalled my vehicle, caused me bodily injuries, medical bills and financial hardship. Years prior my mom was killed by a drunk driver. Then just a few weeks before I applied for a student loan, again I was hit by another car ....even worse however as this time I was on my bicycle.

To further complicate matters over I was victimized by identity theft twice over several years.

Most student loan applications don't have a box for you to write in your "extenuating circumstances" as to why your finances are currently a wreck. Representatives on the phone also aren't always so sympathetic either.

So if you can't seem to make any headway or progress, try these resources below I found at the Assistance Within the Department of Education's website: http://www.studentloanborrowerassista...

Student Loan Ombudsman
The ombudsman office was created to help borrowers with difficult problems. The ombudsman has a website and borrowers can submit problems online. The toll-free phone number is 877-557-2575. The e-mail address is fsaombudsmanoffice@ed.gov; the fax number is 202-275-0549; the mail address is U.S. Department of Education, FSA Ombudsman, 830 First Street, N.E., Washington, D.C. 20202-5144.

Legislator Contacts
You might also try contacting your congressional representative or senator’s office for assistance. You can find their names and contact information on-line:


U.S. House of Representatives
U.S. Senate
Comparing Student Loan Products
Read and decode real financial aid letters: Financial Aid Letter.com
Student Loan Tips from The Project on Student Debt
Private Loan Guide from Student Lending Analytics
Ask the Aid Adviser
FinAid.org
Helpful Information & Media Resources
The Chronicle of Higher Education
State PIRGs Higher Education Project
Inside Higher Education
New America Foundation’s Higher Education Watch Blog
Project on Student Debt
More Information and Resources to Help You with Other Types of Debt and Credit Issues
Americans for Fairness in Lending


As a certified debt arbitrator to help people regain peace, live free and fulfill their future dreams I want to help people stressed out and suffering.

http://www.PaulFDavis.com - Debt Arbitrator, Global Property Specialist, Consumer Advocate

info @ PaulFDavis.com

407-967-7553
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Published on July 09, 2010 11:51 Tags: complaints, student-loan-appeals, unfair-treatment

Tax Identification Number for Purchasing Property in America

As a global property specialist helping foreigners buy property in the United States of America I often have to alert property purchasers of some important details.

To purchase property in the United States of America, applying for a Taxpayer Identification Number is a necessary step. I urge you to do so well in advance before your closing date.

In order to transact real estate business in the United States, a Taxpayer Identification Number (TIN) is required. A foreign corporation may obtain an Employer Identification Number (EIN).

For U.S. citizens and residents, the Social Security Number (SSN) serves as a taxpayer identifier. Those who are not eligible to receive an SSN can apply for a TIN by completing IRS Form W-7 Application for IRS Individual Taxpayer Identification Number.

That form is available here: http://www.irs.gov/pub/irs-pdf/fw7.pdf

Processing time for a TIN takes several weeks—allow 8–10 weeks. Because a real estate deal cannot close without this identification number, foreign buyers and sellers should apply for a TIN well in advance of a planned transaction. Information and application forms are available at www.irs.gov.

When making an application for a TIN, the information on the form must be confirmed by a valid foreign passport. If a valid passport is not submitted, the applicant must submit at least two (or more) current photo ID documents as verification.

http://www.PaulFDavis.com - global property specialist helping buyers and sellers worldwide

info @ PaulFDavis.com

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Published on July 09, 2010 11:04 Tags: purchasing-property-in-america, tax-identification-number

Islamic Financing and Banking, Community Based Banking

Islamic financing and banking from a community perspective benefits consumers in that there is not the life altering blow of ridiculous interest rates forever putting one (and the family) in economic enslavement.

Plus from a business perspective and viewpoint bankers suffer far fewer defaults by debtors, thereby strengthening the economy with integrity and trust in financial dealings throughout the marketplace.

Islamic banking and financing is godly, wise financially and something we all could learn from and pattern our investments by. To learn more: http://tinyurl.com/2bljz5g

Paul F Davis - worldwide speaker for success, life coach, global property specialist and debt arbitrator

Paul is the author of 18 books including "Update Your Identity" and "Healthy Relationships." Paul is an international motivational speaker who has touched 60 countries building bridges cross-culturally empowering people of all ages to transcend their limitations and live their dreams.

http://www.PaulFDavis.com

info @ PaulFDavis.com

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Published on July 09, 2010 10:20 Tags: community-based-banking, islamic-banking, islamic-financing

July 7, 2010

Negotiation Speaker, Competitive Edge to Win Big!

Knowledge creates a competitive edge. The ability to know the market gives us competitive edge in negotiations and when serving clients in consultation.

Knowledge is a keen powerful advantage creating enduring value and wisdom to know how to navigate throughout any negotiation and perplex turbulent market.

Geographical knowledge pertaining to countries - suck as demographics, governmental regulation, cultural, climatic, religious, foreign policy and military maneuverings - all shape economic life and markets.

Being fully aware and astute concerning these global and geographic matters give you a keen and compelling competitive edge in negotiations.

http://www.PaulFDavis.com - executive consultant, negotiator, global property specialist and worldwide speaker for negotiations success secrets who has touched 60 countries and lived in several continents

info @ PaulFDavis.com

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Published on July 07, 2010 18:03 Tags: competitive-edge, negotiation-speaker

July 4, 2010

Brazil, The Lungs of the Planet and Saving the Environment

Brazil is one of the best countries in the world to live and work.

I would not hesitate in the future to move and live in Brazil. Brazil's economy is rapidly growing and Brazil is the lungs of the planet, without which none of us can survive.

I hope the NGOs, Christian leaders and churches are actively involved in fighting to maintain the creation as graciously bestowed upon them by the Creator (read Isaiah 24:4-6).

Multinational companies in Brazil rarely care about your environment, but are just there for profit and disregard the rainforests. Hopefully Brazil's President and leaders will continue to protect these natural resources.

http://www.PaulFDavis.com - worldwide speaker, environmental activist, author

info @ PaulFDavis.com
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Published on July 04, 2010 19:25 Tags: brazil, lungs-of-planet, saving-the-environment

Dealing With Difficult People Speaker Handling Screamers Yelling While Staying Cool

Screamers think by yelling they can get their point across, but primarily point out they are out of control and socially dysfunctional and inept of carrying themselves appropriately.

I enjoyed Oprah's interview with President Obama and first lady Michelle Obama, during which Pres. Obama said, "I don't yell. When I'm not happy I express my displeasure by speaking more crisply and thereby get my point across. I find that yelling does not work and in fact is less effective."

Here are 7 secrets to handle screamers and those given to yelling:

1. Leave the room and waiting until they cool down.

2. Ask them why they feel it is important to yell.

3. Inform them that you will NOT communicate with them while they are yelling.

4. If they continue yelling thereafter, remove them from your life until they can apologize and get themselves together (perhaps with some counseling and therapy).

5. Refuse to cave or emotionally be manipulated by the screamer given to yelling.

6. Hold strong to your values and convictions, despite the present volume that causes you internal disruption and would seek to break your focus.

7. Write the screamer and person giving to yelling a letter to hold true to your stance and opinion on the matter, while not subjecting yourself to their overbearing volume and cry baby tactics.

To stay cool:

1. Conceal your inward thoughts outwardly, showing as little as emotion as possible (remembering the screaming manipulator strives to fluster you and get you to react rather than be proactive).

2. Breathe deeply, as fear causes us to breathe shallow and restricts the life flow within.

3. Slow down intentionally and purposefully to refrain from jumping to snap judgments, speaking hastily or acting prematurely.

Be calm, stay cool and slowly assess the situation giving yourself days, weeks, months (and if necessary years) to set boundaries, evaluate and examine the person with whom you are in a disagreement before allowing them entry back into your life.

When you do decide to allow the unruly person back into your life, set the boundaries and rules for engagement beforehand (even better if you can get the agreement in writing lest they revert to their old ways).

Time always reveals truth. Don't be in a hurry.

Let time reveal truth as to what you should (or should not do).

Decide from the beginning not to be emotionally burdened and broken down by those who yell and scream.


http://www.PaulFDavis.com/dealing-wit...

Paul F. Davis is a Global Property Specialist, Green Homes and Buildings Consultant and Debt Arbitrator for financial freedom.

Paul is the author of 18 books and a worldwide speaker who has touched 60 countries building bridges cross-culturally by joyfully disarming and empowering people throughout the earth to transcend their limitations and live their dreams!

http://www.PaulFDavis.com

info @ PaulFDavis.com

407-967-7553

Earn 20% commission on all paid speaking engagements and consulting Paul obtains through your referral worldwide.
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Published on July 04, 2010 15:07 Tags: difficult-people-speaker

Diversity Speaker for Cultural Sensitivity and Company Profitability

Interactions with foreign clients and customers are best begun by being quick to hear and slow to speak. By being alert and sensitive to THEIR EXPECTATIONS, using caution to avoid putting your map on others and by mirroring their cultural pattern of business and social behavior you can build rapport and win favor with foreign clients.

Stereotypes and summarizations are usually done prematurely in haste with a large amount of speculative presumption. Certainly many have hung themselves and thwarted many good business relationships by their impatience and lack of cross-cultural awareness.

Certainly some (and perhaps many) individuals in a particular group tend to share certain characteristics. Yet given socio-economic factors, which vary widely in foreign countries between the haves and have-nots, it is wise not to presume anything.

Undoubtedly the "up-and-out" live better and communicate differently than the "down-and-out" in any country or society. Not to mention that great disparity and invisible gulf between people within even their own cities and countries is an unspoken attitude which you must discern and appropriately navigate around respectfully with grace.

Nevertheless for Americans (citizens of the United States) especially (25% of which do not even own passports and therefore have most likely never journeyed abroad) generalizations simplify other cultures and people from different countries. America geographically however extends well beyond the United States including nations from Canada to Argentina (perhaps herein lies some of the confusion and arrogance as people in the USA often refer to themsleves as "Americans" in exclusive fashion, not even considering others within the Americas).

Of course this is the most lazy approach to dealing with people whom you know little about. And as I previously mentioned earlier, this clueless and self-absorbed disinterested approach rarely endears people to you and therefore seldom pays off.

Of course for self-centered, clueless and arrogant people generalizations help them cope and remain enclosed within their isolated rigid and frigid world. But if you are endeavoring to be successful in the global economy, you must abandon this mentality.

Generalizations therefore are only useful guidelines to get you started and perhaps in the vicinity of the individual with whom you are going to be interacting. Generalizations however should never hold you in captivity, nor be held to rigidly.

As you observe each individual's personality, social interactions, communication style, mannerisms and behavior adjust and modify your approach with them accordingly. Revise your opinions and responses as necessary to ensure a solid rapport, interpersonal connection and warm dialogue and communication are established.

Upon observing how an individual’s behavior and reactions match or differ from our understanding of their culture and expectations make the necessary adjustments in your interpersonal approach.

Stereotypes are often misnomers that misguide, misdirect and demean both your client and you (revealing your own stupidity and lack of cultural sensitivity).

Don't allow stereotypes and generalizations to distract you, nor interfere with your heartfelt sensitivity and ability to treat people as individuals.

I myself in all candor and honesty have repeatedly failed at this miserably (and that despite my good intentions). One of my most common blunders is to ask foreigners and immigrants now living in America, "Where are you from?"

At least half of more of them say coldly or sternly, "America" as if to assert their citizenship.

I however as a world traveler (having visited 60 countries and lived in several continents) simply was curious and hoping to connect with them at a cultural level and further familiarize myself with their ancestral origins and country.

Again despite our heartfelt intentions and sincerity, if spoken improperly we can easily erect walls of distrust and sow seeds of discord to frustrate and alienate the very people we are trying to connect with at a deeper level.

One thing I learned from my friends in east India when asking for someone's name is to say: "What is your GOOD name?"

By inserting the word "good" before name, it removes some suspicion and fear people have of you asking them their name.

Company reps sometimes feel threatened by you knowing their name, as if you are seeking to report them for poor service or something they've done wrong.

However when you insert "good" before name, your request for a person's name is perceived to be more positive and less threatening.

How amazing it is to see the interpersonal shift in cross-cultural communications with just one word, which greatly can alter the dialogue, interaction and means of expression.

Knowing this be extra careful and super sensitive. Choose your words wisely.

Bury stereotypes and generalizations as they can be presumptuous and hazardous to your business success.

Employ and put in place diversity business practicies and policies that honor people's differences cross-culturally. As you do expect employees, clients, associates and prospects to increase their level of respect for you and your company.

Cultural sensitivity will greatly enhance your ability to communicative effectively cross-culturally, increase company profitability and lead to successful transactions that result in repeat business.

Paul F Davis - worldwide speaker on diversity and executive consultant for success

http://www.PaulFDavis.com/diversity-s...

info @ PaulFDavis.com

407-967-7553

Paul F. Davis is a Global Property Specialist, Green Homes and Buildings Consultant and Debt Arbitrator for financial freedom.

Paul is the author of 18 books and a worldwide speaker who has touched 60 countries building bridges cross-culturally by joyfully disarming and empowering people throughout the earth to transcend their limitations and live their dreams!

http://www.PaulFDavis.com

info @ PaulFDavis.com

407-967-7553

Earn 20% commission on all paid speaking engagements and consulting Paul obtains through your referral worldwide.
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Published on July 04, 2010 14:17 Tags: cultural-sensitivity, diversity-speaker

Exotic Places to Buy a Home in the World

According to HGTV these are the top 10 exotic destinations to buy a home in the world:

1. Fiji - natural beauty, islands, beaches and waterfalls

2. Thailand - tricky, glitzy, fabulous cuisine, beaches and geisha girls

3. Argentina - trendy, upscale, inviting architecture, football, tango and timeless Colonial style homes

4. Costa Rica - adventure, volcanoes, surf, snorkeling, cerviche, rainforests and wildlife

5. South Africa - home to the World Cup, rugged beauty, ethnic diversity, majestic scenery, lush vineyards and laid back lifestyle

6. Italy - enchanting art, incredible architecture, fabulous fashion and fantastic food

7. Panama - beachfront property, unspoiled beauty and friendly people

8. Czech - architectural marvels, royal dynasties, rich history, delicious food, ancient castles, convenience and countryside

9. Greece - gorgeous sunsets, white buildings with blue roofs, excellent cuisine, vibrant nightlife, rich culture and history being the cradle of democracy, blue cobalt water and quaint villages

10. Egypt - modern metropolis, Arab energy, awe-inspiring pyramids, bustling streets with bazaars and lively people

Paul F. Davis is a Global Property Specialist, Green Homes and Buildings Consultant and Debt Arbitrator for financial freedom.

Paul is the author of 18 books and a worldwide speaker who has touched 60 countries building bridges cross-culturally by joyfully disarming and empowering people throughout the earth to transcend their limitations and live their dreams!

http://www.PaulFDavis.com

info @ PaulFDavis.com

407-967-7553
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Published on July 04, 2010 11:29 Tags: exotic-places-to-buy-a-home

4th of July History, Declaration of Independence and Divine Dependence

234 years ago, 56 Founding Fathers pledged their lives, fortunes, and sacred honor - putting literally their lives, their monies, and their reputations on the line - to guarantee freedom for future generations. Because of their sacrifices, America is still the longest on-going constitutional republic in the history of the world. This is a blessing that we too often take for granted.

Celebrate history http://tinyurl.com/28tttgb enriching, uplifting and unedited American history full of divine power to touch and transform lives!

"One people announce themselves as a member of that great community of the powers of the earth, acknowledging the obligations and claiming the rights of the Laws of Nature and of Nature's God. The earth was made to bring forth in one day! A nation was born at once!" John Quincy Adams, 6th President of the United States..., July 4th, 1837 Oration http://www.wallbuilders.com/LIBissues...

"Praise the power that has preserved us and made us a nation! Than conquer we must when our cause it is just and this be our motto in God is our trust." Francis Scott Key, writer of the Star Spangled Banner. http://www.youtube.com/watch?v=zDKfw8...

Liberty and democracy in the United States of America from the outset was based upon a deep spirituality. http://www.youtube.com/watch?v=ZwQMiP...

Revisit the foundations of democracy & liberty in the United States of America. (info@PaulFDavis.com) to speak about life, liberty & democracy in your city. Rediscover the foundations of American democracy.

http://www.PaulFDavis.com - worldwide speaker, patriot and preacher for divine inspiration and newness of life
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Published on July 04, 2010 10:33 Tags: 4th-of-july, declaration-of-independence