Author: horizonmanagement

S Corporation Tax Tips – How To Report Deductions On Form 1120s

If you own an S Corporation, you must file Form 1120S every year to report the income and expenses of your small business. The purpose of this article is to help you properly report all the legitimate expenses you are entitled to take. Like any business owner, you are in business to make a profit. But you also don’t want to pay more tax than required, so read on to make sure you know where to report expenses on Form 1120S.

Form 1120S has three places for you to report your expenses:

1. Schedule A, Cost of Goods Sold. If you sell a product and maintain an inventory, you must calculate your cost of goods sold. Form 1120S provides a special section to do this calculation; it’s called Schedule A, and it’s found on Page 2. This is not an overly complicated schedule, but it must be done right, or you can come up with the wrong amount for what is often the biggest expense for many businesses that sell a product.

After you complete Schedule A, the amount from line 8 of Schedule A must be transferred to line 2 of page 1. Of course, if you don’t sell any product, you can ignore Schedule A.

2. Deductions. This section is located on page 1, lines 7-18. This is where you deduct many of the most common expenses found in any business. There are 12 expense categories for you to start with: compensation of officers, salaries and wages, repairs and maintenance, bad debts, rents, taxes and licenses, interest, depreciation, depletion, advertising, pension and profit-sharing plans, and employee benefit plans.

3. Other deductions. The deduction section described above only offers 12 expense categories. Perhaps you are thinking, “Only 12 expenses! I know my business has many more expenses than that. In fact, most of my business expense categories aren’t even listed on lines 7-18 of page 1.” If that’s you, do not despair. You are not alone, and your situation is quite common. That’s why page 1 has line 19, “Other deductions.” This is where you get to list all other business deductions on a separate schedule. The total from that schedule is then transferred to page 1, line 19.

Here are some of the most common business deductions that you’ll likely include on the “Other deductions” schedule: automobile and truck expenses, bank charges, consulting fees, credit and collection costs, delivery, discounts, dues and subscriptions, equipment rent, insurance, janitorial, laundry and cleaning, legal and professional fees, miscellaneous, office expenses, parking fees and tolls, postage, printing, sales and promotion expenses, security, small tools and equipment, supplies, telephone, utilities.

You will likely have many other categories to include on this schedule. When it comes to reporting deductions, be sure sure to include every legitimate expense you are entitled to write off.

US Government Aid for Families

We all need aid at some time or another. We will show how to look and find what is available when needing Family Aid

There is a web site, benefits.gov, which can help you in finding government aid, grants, loans and other benefits and financial support coming from the federal government. The web site will show you all the important information, how to find out if you are eligible, how to apply if you are and where to do that.

When wanting to apply for any kind of financial government aid, you need to know that grants and loans are not the same. A loan has to be paid back, and many times with an interest rate. There is another web site, govloans.gov, which can help you in finding loans which are funded by the government.

Grants do not need to be paid back, but very few of them are meant for people as most of these government grants are given to universities, cities, states, counties, organizations and researchers. Grants.gov is the perfect site to browse for these types of government aid for families.

There are many programs which offer financial help and assistance for families who want to adopt children. Expenses connected with adoption, vary based on the type of adoption. Families who need this help, can research and find information about what can be claimed as financial aid for adopting and what they have to pay themselves.

There are programs which offer you a percentage of the expenses related to work, which you have already paid to a care provider, who cares for your child. The percentage will depend on the income you are receiving. These expenses will be paid if the primary function is to protect the child’s well-being. For most, a credit will be given to those who have used a care provider, who takes care of your child under the age of 13, or caring for your children and spends a minimum of 8 hours in your home.

The total sum of expenses which qualify for the credit are $3000 for one person and $6000 for two or more people. There may be some changes in the amounts, depending on taxes that are active at that year. Also, another important fact is that, the credit which will be received, may not exceed the amount of money which you or your spouse is receiving per month. This could be different if your spouse is a student.

For these credits, a qualifying person actually can be a child who is under the age of 13,or a spouse who is a student and cannot take care of himself which means that he is incapable of taking care of his nutritional and hygienic needs. This may be because of a mental or physical illness.

These are some examples we hope will help you when looking for Government aid for families.

Web conferencing grows by 56 per cent in Asia Pacific

In a study conducted for the conferencing market of Asia Pacific by research company Wainhouse, web conferencing exhibited a stupendous 56 per cent year over year growth. The total revenue for the conferencing market increased at a rate of 15 per cent in the region in 2010 as compared to 2009 to end the year at $ 828.8 million, with web conferencing solutions being responsible for 14 per cent of this figure. Audio conferencing services accounted for 81 per cent of the total share in the market, while video conferencing took the remaining share of the pie at 5 per cent.

Along with web conferencing, audio and video conferencing also grew in 2010 in Asia Pacific. While the profits for video calls increased by 19 per cent over 2009, the market also saw a 10 per cent increase in revenue of audio calls. Even in audio conferencing, there was an 11 per cent increase in the unattended call profits generated by Conferencing Service Providers (CSPs), though attended call revenues contracted by 2 per cent as compared to 2009. This trend is expected to continue as Wainhouse believes that the profits for attended calls will continue to decrease at a consolidated rate of 3 per cent in the next 4 years, while unattended call revenues will grow at a compounded rate of 11 per cent till 2015.

The share of web conferencing in Asia Pacific is expected to rise by 21 per cent by 2015, while video conferencing should grow at a steady pace of 9 per cent in the region during the same time period. In the coming times, attended audio conferencing will increase at 6 per cent in terms of volumes, while unattended audio calls will see a 20 per cent compounded demand. The market will also see a decrease in price, with the rates for attended calls falling more sharply than unattended calls. Overall, the conferencing revenue in the Asia Pacific region is expected to increase by 12 per cent, as per Wainhouse.

As compared to 2009, the volumes for attended calls increased by 1 per cent in 2010, while demand for unattended calls surged by 15 per cent. In Asia Pacific, the former accounted for 6460 million minutes or 96 per cent of the total consumption, while the latter was responsible for 247.6 million minutes, thus bringing its share to just 4 per cent. This shows that the users in the region still rely on unattended conferencing to communicate with remotely located counterparts. This study was an effort by Wainhouse to gauge the market dynamics of the Asia Pacific region and estimate the prospects of the conferencing industry as a whole here.

Dines Mark is an experienced writer having more than five years of experience in writing articles on various topics such as Web conferencing, video conferencing, and conferencing etc.

Business Development And Opportunities In Indian Oil Corporation

Oil and Gas industry in India has its own importance in the economy of the country. The industry meets almost half the demand for energy in country. India has strong resource and business environment which makes it a major player in Asian oil market. The increasing refining capacity of the country is set to make it one the most important players in the export of petroleum products in Asia. The demand of petroleum and gas products is expected to rise in India for upcoming years. The domestic production for oil and gas is also expected to grow; leading to the opening of business opportunities in the sector.

The major players in Oil and Natural gas in India are: Oil India Limited, Oil and Natural Gas Commission, Indian Oil Corporation, Hindustan Petroleum Corporation Limited, Bharat Petroleum, Gas Authority of India and Reliance Energy Limited.

Indian Oil Corporation Limited

Indian Oil is Indias flagship national oil and natural gas company. It is one the top Indian corporate company featuring in Fortune Global 500 listing. One of the largest commercial enterprises in India, IOCL is having its registered office in Mumbai, India. Indian Oil Corporation Limited operates the largest and widest network of fuel satiations in the country.

Indian Oil Corporation Limited deals in variety of products related to Oil and Natural Gas, the high range of IOCL products covers petrol, diesel, LPG, auto LPG, Jet fuel, Lubricants, aviation turbine fuel, naphtha, bitumen, paraffin, kerosene etc. The prime brands of the company are: Indane LPG, SERVO Lubricants, Autogas LPG, Xtra-Premium Branded Petrol and Xtra-Mile Branded Diesel.

At Indian Oil the business operations revolve around the refineries, pipelines, marketing, research and development, exploration and production, petrochemicals and natural gas. IOCL is having the major share in aviation fuel sector and successfully servicing the demand of domestic and international, private air lines. IOCL aims to maintain its position as the market leader and thus have maintained world class research and development center. The overseas portfolio of the company includes ten blocks spread across the countries like Libya, Iran, Gabon, Nigeria Timor-Leste and Yemen. Indian Oil Corporation has the largest captive plantation for bio fuel production in India.

Finding Business Opportunities with the Company

As per the current trend most of the business deals and supplies done through the corporate business tenders. The tenders and procurements notice for various services and product supplies are floated by the company time and again.

Indiamart, the leading web portal of tender and notification information brings you the latest tender information of IOCL tenders. Our large data base with refined and quality information, allows you to browse through the latest list of tenders and notification floated by Indian Oil Corporation Limited. Access and the latest business tenders and procurement notice of IOCL at Indiamart and drive your way to business success, with one of Indias leading company in Oil and Natural Gas sector.

Xybion Corporation Has Been Selected To Present At The Conference For Management And Use Of Electron

PressRelease) Carlos Frade, Vice President of R&D Solutions, will be presenting, and participating as a session panelist at the Conference for Management and Use of Electronic Systems in Pre-Clinical Studies in Beijing on 5 June 2012. The conference, being held on behalf of SFDA by China Center for Pharmaceutical International Exchange and includes speakers and participants from the U.S. FDA and the China SFDA.

Cedar Knolls, NJ: Xybion Corporation announced that Carlos Frade, Vice President of R&D Solutions, will be presenting, and participating as a session panelist at the Conference for Management and Use of Electronic Systems in Pre-Clinical Studies in Beijing on 5 June 2012. The conference, being held on behalf of SFDA by China Center for Pharmaceutical International Exchange and includes speakers and participants from the U.S. FDA and the China SFDA.

As a strategic advisor to research facilities across the globe for over 24 years, Mr. Frade brings a wealth of creativity, innovation, and experience to bring compliant, database-driven, software solutions for toxicology and pathology. Mr. Frade will be presenting the features and key advantages of utilizing Pristima, Xybion’s premier preclinical data management suite in validated regulatory environments.
The Pristima Suite is the first fully integrated end-to-end enterprise solution for tracking and managing veterinary facilities and research subjects throughout the preclinical research process delivers essential capabilities across the entire drug discovery process to facilitate the entire research program.

“We are thrilled to be a corporate support of the Conference and are excited to be actively participating in the panels and content for the meeting as well as having an opportunity to showcase our unique approach to integrated preclinical data management”, said Pradip Banerjee, CEO for Xybion. “As a company, we have a rather unique offering that combines an enterprise-class preclinical solution in Pristima Suite with services and training to support companies in life sciences and other heavily regulated industries across the globe.

About Xybion Corporation:

Xybion Corporation is a global leader in the development and delivery of critical enterprise solutions to highly regulated industries. Xybion offers a comprehensive portfolio of interconnected solutions for Preclinical R&D data management, quality/ governance/risk/compliance, Enterprise Asset Management and Enterprise Content/Records Management. Xybion compliments its product portfolio with its Global Development Center, providing broad range of professional services including validation, testing, implementation, project management and custom application development

Source:

The Kerala perspective about ASEAN FTA !

Why does Kerala dread the Indo-Asean FTA ? Reasons are many.

Kerala Govt had asked the Centre to put 1400 items under the Negative List. Only 489 items have been now included in the Negative List.

The import tax on Kerala’s products like coffee, tea, rubber, copra, coconut, coir, cashew, pepper, cardamon, coconut oil etc will have to be brought down to 50% or less by 2019. Import tax for Palm Oil has to be brought down to 40%.

After 2005, import tax is cent percent for tea and coffee. It is 70% for pepper and 90% for Palm Oil. When import tax on these items comes down to 40%, the backbone of Kerala economy will be threatened.

The Left and Saffron parties are against the Congress Govt signing the deal. They are going to start movements against the deal.

There are 3.6 lk workers working in the coir sector and 2.5 lk in the cashew sector. This year’s cashew exports are 1500 crores. All these will be affected as the pact comes into effect from Jan 1, 2010.

The lowering of import tax on fish products and coconuts will affect the 1 million labourers working in the fisheries sector and 35 lk farmers in the coconut sector will also be affected.

While this is the Kerala perspective, the Center begs to differ saying that the pact may be a big challenge but it is a great opportunity. The Centre points out that India’s bilateral trade had gone to $ 37 b with ASEAN and $80 b with EAS ( East Asia Summit ) countries.

EAS countries are 16. Six more countries added to the ten ASEAN member nations – China, Japan, New Zealand, Australia, S Korea and India !

Jupiter will be in Aquarius, in India’s Eighth House, the House of Hindrances, when this pact becomes operational.

Let us hope that, after the initial hurdles, India will capture the one trillion dollar ASEAN market !

Article by Govind Kumar, astro scholar, writer and academician of . His Google+ Profile is and Youtube url

The PICE Born with the Ambition to Accelerate Economic Recovery and Job Creation

Remember that trade and tourism account for more than 23 percent of GDP in our region

Spain, May 24, 2013 – The Minister of Employment and the Economy of the Government of Castilla-La Mancha, Carmen Home, said that “the Investment Plan and Employment Creation is born with the ambition to accelerate economic recovery and job creation in Castile-La Mancha. ”

At the opening of the first Forum of the Investment Plan and Job Creation, Home recalled that “the PICE includes measures in the most productive sectors of our region, such as the development of infrastructure, agriculture, trade or tourism, to tailor our actions to the European Operational Programme 2014-2020 and, thus, are implemented to achieve equity with those of the European Union “.

During his speech, the Minister of Employment and the Economy has said that “the Government of Castilla-La Mancha is working with determination in the European partnership document and, in this way, go for a smart, sustainable and inclusive to contribute member states to generate high levels of employment, productivity and social cohesion “.

In his view, “it is a dynamic plan that will adapt its measures in a comprehensive process monitoring and evaluation to the changing needs of Castilla-La Mancha and patterns arising from the implementation of European policies during his years of implementation to achieve the objectives “.

Trade On trade, the Minister of Employment and the Economy has stressed that the PICE revolves around seven strategic lines containing 21 actions aimed at supporting commercial sector Castilian-Manchego, a sector in our region representing 11.2 percent of gross domestic product, employs 14 percent of the population and 33 percent of total autonomous and generates a turnover of over 7,500 million euros a year.

Therefore, it has highlighted the adoption of measures to improve the interplay between merchants and their associations, such as the signing of agreements with banks to reopen credit to entrepreneurs worth $ 64 million, plus a second in the amount of 28 million euros, of which the government finances the differential of 5.5 percent and 1.7 percent of the costs of collateral, and other actions designed to promote agility bureaucratic or technological and innovative potential of all them.

Tourism On tourism, Casero stressed that this sector accounts for 12 percent of our Gross Domestic Product and employs about 17,000 people. Therefore, he said that “it is essential that we contribute from the regional government to promote smart growth in tourism, to contribute to the regeneration of our region.”

Finally, Casero said that “Castilla-La Mancha is important by itself to be a single target region, so we are working to make our Strategic Tourism Plan can be a shock final for this sector.”

Press Contact: Consejeria de Empleo y Economia Media Relations Consejeria de Empleo y Economia Address: Avda Ireland No 14 512-212-1139

What Is Economics

It never fails that when I ask people to describe the field of economics, the typical response is that it is the study of money or how to earn money. Moreover an ever increasing number of people regard economics as a form of politics or perhaps political science. Grading on the simple pass/fail basis all would of course fail.

Economics is mistaken for finance by some and politics by others. The later tends to sting a bit. Nevertheless, perhaps the confusion is understandable. After all economics must by necessity address matters common to both areas of understanding. Such has been the case since inception. Be that as it may the fact remains that, economics is best described as the study of human behaviour.

-What?- you say. -What about money, debts, saving, budgets?- Well economics certainly involves all those things and economists have been known to go on for hours on the pros and cons of public policy decisions. But at its core economics is the study of how flesh and blood human beings (not abstractions thereof) and the institutions they engender actually respond to various types and degrees of stimuli. Economics addresses financial implications without addressing the organization of financial data which is best suited to financial experts. Economics addresses the incentives and/or disincentives resulting from public policy and not necessarily the policies themselves which is best suited to politicians. Hence the economist focuses not so much on the tax rate as on the manner in which said rate affects human behaviour which in turn has a direct even if long term effect on the overall state of social institutions. Most importantly, economics answers the ever-ellusive -Why?- Why does an increase in demand drive prices higher? Why does welfare (corporate and social) incentivize licentiousness on the part of the recipient? Why do even good ideas generate diminishing returns over time? Why do certain policies produce results at odd with the intensions of those who author them? Why?, Why?, Why?, ad nauseum.

The problem is not that the confusion exists. Rather it is the fact that it causes the layperson to misconstrue economic laws for political rhetoric. This is particularly problematic when one is confronted with Austrian Economics for the -Austrian- is always deemed to be championing the political views of a specific politician and/or political party.

How to correct the problem? Well, I’ll leave that to the social theorists. I’m only an economist.

Economics Assignment Help- A Better method of learning

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These online services especially help those students who are unable to complete their assignment within the appointed time. Engineering and Economics project help or Homework Help offered by experienced and professional assignment writers is one of the best solutions for them. Thus it is not entirely needed to check economic science however conjointly to clear the ideas and take hold over them. Students need to write economics assignment for different semesters of their academic session. Here, they can take the help of various online assignment help services to write result-oriented assignments.

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Sensex India Role And Economic Scenario

Economic slowdown has its effects on each and every segment in varying intensities and the stock market is no exception. There is no panicky situation at present; the recession that turned many face severe financial crunch is now over. And recovery is in full swing. In fact, the BSE sensex, compared to other world stock market indices, has been exhibiting a fast upward trend. It is the Sensex India figures on the positive flow that has led many foreign investors to invest in the Indian market.

Investors trading in BSE stocks thus have reasons to smile. The Bombay Stock Exchange (BSE), Asia’s oldest bourse, has played an instrumental role in giving shape to the Indian capital market. What was started by a group of experienced stock brokers is today one of the top rated stock exchanges in the world. The BSE is still a major contributor in the capital market, raising funds from the general public, facilitating companies further expand business horizons as well as generating capital for the Government’s developmental activities. In terms of the number of transactions taking place in all the stock exchanges of the world, the BSE stands fifth. The 30 most active stocks of various sectors traded via the BSE are a source of survival for many, encompassing stock brokers, investors, companies, and more.

Market analysts and experts who have been studying the BSE sensex closely for years together, witnessing both rise and fall, have predicted that infrastructure, finance, real estate will be the key booming sectors in the years to come. Investors are now eager to put in their resources in these areas besides other sectors which they feel will maintain a balanced trend.

As a market indicator, the BSE sensex shows both the profit margin and loss of the companies registered with BSE. The rise and fall of any sector or a company exhibiting a low ebb while another high in the graph are all a result of market volatility. Market situations govern companies’ performance. And the performance of all Sensex India companies is measured in the sensex index. This sensex index figures may seem confusing to novice investors. But they pick up momentum once they understand the implications. The investor who does get updated with the latest happenings of the market stays at the winning edge because knowledge of the market is a must before investing.