Eric Earl Hamilton Restorers: Tips on buying and handling vintage furniture

Do you want to buy an affordable yet good quality furniture with great value? Then a vintage furniture is the best choice for you. You could put your personal style when you’re decorating your home by placing this kind of furniture in it. You could also be eco-friendly by adding vintage furniture and home furnishings in your place.

Buying a vintage furniture requires extra effort since it’s different from your usual thrift store shopping or garage sale. You’re looking for a furniture in a certain era, thus, it’ll surely be a little difficult. See to it that the furniture is 30 to 40 years old to be considered as a real vintage furniture while antique furniture is aged more than 100 years old.

You might find it hard to determine if a certain vintage furniture is a good piece or if it is worth your money. To ease your worries, Eric Earl Hamilton Marsden Restorers provides the following tips to help you buy your vintage furniture.

Always visit good shops

First, you must find different vintage furniture stores available in your area. Eric Earl Hamilton Marsden Restorers suggests that you explore an area that has older homes. It could be beneficial for you to frequently visit your discovered shops and make friends with the vendors or the salespeople. They will eventually provide you with a lot of information and will often inform you when something you need is already available in their shop. You might not know it but frequent visits yield good returns sometimes as the vintage store may offer markdowns after a furniture has been sitting in their shop for a certain period of time, and you can be the first one to receive the news than others because of the good relationship you have with the staff. You can also find worthwhile furniture pieces at auctions, estate sales, and flea markets.

Hunt down furniture with good bones

For instance, drawers should slide out easily and upholstered pieces should have good sturdy frames. If possible, avoid furniture that’s on the verge of cracking.

It’s fine to buy less popular brands

Don’t focus your search on big-named brands only, you can also look for other manufacturers too since they are often less expensive but just as good as branded ones. Furniture with long-lasting quality should be your top priority all the time, regardless of the brand.

Always consider the size

Knowing the size of the furniture is crucial for you because you need to make sure that it will fit in your home. Furniture may look too small or too big inside a store, so always bring your tape measure with you to ensure that it is scaled right.

Choose gently used furniture

It’s apparent that gently used furniture are in a better shape than furniture that has been trashed, so be extra vigilant when you’re searching for a vintage furniture. Casegoods hold up better than upholstered furniture, but if you’re looking for upholstered furniture then search for the gently used ones.

Minor scratches are okay

You probably don’t want to buy a furniture that has few scratches in it, but Eric Earl Hamilton Marsden Restorers claims that it’s fine to buy gently used furniture with some surface scratches in it because it can be fixed in the first place. You can find a lot of products on the market that can help you with those.

Buy individual pieces that suit each other
It might be expensive to buy a whole set of vintage furniture, so if you’re on a tight budget, consider buying individual pieces that could work well together. You can be certain about the quality of each furniture if you’re going to buy it individually. This is also a good way to show off your unique side to your family and friends.

Quality is a must

Not all old furniture comes out with great quality, hence, furniture that has inferior materials and workmanship must be out of your list. As mentioned earlier, your goal is to find high-quality furniture for your home and being curious about the quality of a certain piece is not a bad thing to do.

Bargain using the imperfections of the furniture

Does the furniture have a few alarming scratches in it? Use that to your advantage and begin bargaining. After searching for that good piece, it’s time for you to attain a good price. Use any evidence of damage to bargain for a better price if that furniture is really worth buying. See to it that you can fix the defects of the furniture in the first place and that the price of the repairs will not be too high.

Repurpose your old furniture

You can give a distinct feel to your home by repurposing some of your old furniture. Make them have an alternative use and value. For example, you can turn a chest of drawers into a container garden or an old sewing machine drawers into a wine storage rack.

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About Us – NG. LEE and Associates DFK

OUR MISSION:

To deliver value services to our clients and to be a vital part of the global community, embracing the challenge and responsibility of defining the future for ourselves and also for those we serve.

 

OUR HISTORY:

The history of Ng, Lee & Associates – DFK dates way back to 1948 under the original founding firm of Tang Peng Yeu & Co which served many distinguished businesses and companies and was considered as one of the leading accounting firms of its day. The firm was acquired in 1972 by Mr Jerry Lee and Mdm Susan Ng. It changed its name to Ng, Lee & Associates and subsequently to Ng, Lee & Associates – DFK to reflect its worldwide affiliation with DFK International. Since then, the firm has expanded with the takeover of Messrs Yeo Yong Poh & Co in 1991 and the merger with Koh Lian Huat & Co in 2000.

 

At Ng, Lee & Associates – DFK, we strive to build close working relationships with our clients. Our foremost objective is to understand the unique needs of each of our clients and to customise our services to help our clients to capitalise on opportunities, as well as providing personal services and solutions which our clients have come to depend on.

 

We place great emphasis on:

  • Integrity and objectivity

As our client, you will be dealing directly with dedicated and involved professionals who take time to understand your business and personal goals.

  • Building a committed business partnership

We are easy to talk to, easy to understand, and provide highly personalised services.

  • Long term client relationships

We want to be an integral part of your success and will tailor our advice to help you create a sustainable competitive advantage.

 

We also get recognised by the following bodies:

  • Accredited Training Organisation (ATO) for Singapore Qualification Programme for :-

Singapore Accountancy Commission Institution of Singapore Charted Accountants

  • ACCA Approved Employer
  • Recognised Employer Partner – CPA Australia

 

OUR GLOBAL STRATEGY – THE DFK CONNECTION

Our firm is a member of DFK International, a major international association of independent professional accounting firms and business advisers. Through the DFK network of over 300 worldwide offices, Ng, Lee & Associates – DFK is well positioned not only to provide clients with global knowledge and services, but also to identify and link clients to potential international business opportunities. Regardless of your size or needs, you can expect valuable services from our member firms that extend beyond the traditional boundaries of assurance, accounting and tax.

10 Tax Havens In The World

This article was originally on GET.com at: 10 Tax Havens In The World – What They Are And Who Goes There

Almost every country in the world, including Singapore, subjects its residents to taxes. The question has always been how high or how low the tax rates are for the particular year. If you’ve been following the news on the Panama Papers, then you would know that some of the wealthiest people in the world are being suspected of not paying these taxes, all in the name of preserving their wealth.

On one hand there are countries with the highest personal income tax rates in the world and then there are countries with the lowest personal income tax rates. But tax havens are a whole new ball game altogether. We at GET.com are going to try our best to shed some light on this topic.

What Is A Tax Haven?

A tax haven is basically a country with a very low tax rate which sometimes even reaches 0%.

Remember that scene in The Wolf of Wall Street where they stashed a few hundred million dollars in cash in Switzerland? That was no coincidence.

Nations like Switzerland and Luxembourg, were once considered tax havens.

For Switzerland, this changed in 2014 when they were forced to close their tax loopholes.

Currently, these 10 countries are considered to be tax havens – and it’s not so easy to become a resident in any of them!

  1. Brunei Darussalam

To be considered as a resident in Brunei Darussalam, you have to reside there for 183 days or more within the tax year.

  1. Anguilla

To be considered as a resident in Anguilla, you must have been legally residing in Anguilla for 7 or more years.

  1. British Virgin Islands

To be entitled to no tax at the British Virgin Islands, you have to apply for rights to reside long term because of either local employment or self-employment, or if you are starting a business.

  1. The Bahamas

There are many criteria which enable you to apply for residency in The Bahamas. One common way is for financially independent individuals or investors to be legitimate owners of a residence in The Bahamas. According to their Ministry of Finance website, those who purchase a residence for BS$1.5 million or more will get speedy consideration!

  1. Panama

In Panama, you have to obtain a Temporary Permit before obtaining a Permanent Residency Permit. Once you have the residency permit, you have to reside in Panama for at least 5 years before you can apply for Panama Citizenship.

  1. United Arab Emirates

To be a resident of the United Arab Emirates, you have to apply for a residency visa, which has a 2 year validity period. During the 2 years, you must enter the country once every 6 months.

  1. Cayman Islands

To be a resident in Cayman Islands, you have to have been living there legally for at least 8 years.

  1. Bermuda

Before applying to be a resident in Bermuda, you have to have been living there for at least 10 years, among other requirements.

  1. Island Of Sark

To be a resident on the Island of Sark, you must live with a an existing Island of Sark resident.

  1. Monaco

In Monaco, you have to go through certain processes that will take about 12 years before you can apply for a privileged residence card, which is valid for 10 years. Upon obtaining this privileged card, you have to spend at least 6 months and one day in Monaco every year.

Who Goes To Tax Havens?

Most of the time, those who are interested in these countries are people or businesses with large amounts of money who want to escape the high tax rates back at home. Wealthy people mostly find themselves stowing away their cash in these countries.

For example, British Formula One drivers, Jenson Button and Lewis Hamilton both reside in Monaco. Instead of having to pay the usual United Kingdom income tax rate of 45%, because they are domiciled in Monaco, they are not required to pay taxes.

However, to move your money to these tax havens, is no simple feat. You have to be able to legally set up a corporate structure within the tax haven country, or be domiciled in that particular country.

These processes though, are not that simple. There is a lot more that goes into setting up a corporate company in these tax havens than meets the eye.

Is Singapore A Tax Haven?

The answer to that is, somewhat. Look at it this way, a tax haven is defined as a country with a low or no tax rate.

In Singapore, those who earn within the highest tax income bracket, or above S$320,000 per year are only taxed 20%, which is significantly lower that most other developing countries like the U.S. (income tax rate of 55.9%) or the United Kingdom (income tax rate of 45%).

Singapore also has a low corporate tax rate and doesn’t put a levy on capital gains. So when you take this combination and put it together, it’s easy for the people earning above S$320,000 per year, to think of Singapore as a tax haven.

However, since the UBS tax evasion case which occurred last month, the U.S. has been paying close attention to Singapore’s bank secrecy laws.

But while the US Internal Revenue Service (IRS) is clamping down on countries that remotely resemble a tax haven, they seem to have forgotten a haven of their own – the state of Delaware, which is home to no less than 285,000 businesses that are looking for a place to hide from tax rates.