Top Three Reasons Why Businesses Should Outsource Tax Preparation

This is an interesting article on outsourcing which I found on the following Link

Many small and medium businesses are cropping-up every day all over the world. Only a few of them remain profitable, while over 70% are shutdown during the first three years of their operation. A primary reason is that they spend a great deal more of time and resources on their day-to-day operational activities and down the line lose focus on their core business. This brings down the profitability curve as the back-office tasks keep on gulping more and more resources. An easier way out is to outsource portions of your work to people who have expertise in those respective domains.

Your business can also utilize tax preparation services and tax processing services offered by professional service providers to file your taxes and returns accurately and on time. Here are the top three reasons why you should outsource your company’s tax preparation:

#1: Save up to 60% of your cost through offshore outsourcing

The math is simple. If you employ full-time resources who have ample experience to take care of your taxes efficiently, then you would end-up investing in their salaries, training, office space, workstations, benefits, software license, and a lot more. While if you outsource the work to an offshore company that handles tax processing services and already has a team of qualified and trained professionals then you would spend up to 60% less.

#2: Gain from the expertise of the tax preparation services provider

Companies that provide tax preparation services, tax processing services, VAT return services, income tax computation service, income tax return filing services, etc., have already invested in a solid infrastructure and their staff members have expertise in top-of-the-line tax computation tools like Intuit's Lacerte, Creative Solutions' Ultra-Tax, Intuit’s ProSeries, ATX, Drake, and many other popular financial software. Therefore, you won’t have to spend time in learning these tools. Moreover, the service provider’s staff would work at a faster turnaround and with greater accuracy.

#3: Easy to ramp-up and ramp-down resources to manage load

Typically, the finance team in small businesses (if at all they have one) takes care of the taxation part too. Throughout the year, the workload is constant but at the end of the quarter or year when the tax has to be calculated or during the time when your company takes critical expansion steps; it puts additional pressure on the finance team. If you outsource your accounting and tax preparation work, you can take advantage of a flexible team, wherein you can increase or decrease the team size whenever you want and get any amount of work done without hassles.

Through tax preparation outsourcing, you can remove yourself from the trouble to managing tax files and free-up your in-house resources to do more lucrative business development tasks.

How to be a good boss.. book review

This was published in The Star

Review by ANDREW LEE 

andrewlee@thestar.com.my

Good Boss, Bad Boss: How to Be the Best... and Learn from the Worst

Author: Robert I. Sutton

Publisher: Business Plus

UNFORTUNATELY for many of us, bosses make our lives miserable. Of course there are exceptions, but in general, it seems that their only role in life is to annoy as many of their employees as possible.

Before you accuse me of launching a tirade against my own superiors, consider this sobering statistic from Robert I. Sutton's new book: 20 million Americans have left jobs to flee from workplace bullies, most of whom were bosses.

A 2007 Zogby survey of nearly eight thousand American adults found that of those abused by workplace bullies, 72% were bullied by their superiors.

We can thus conclude that many bosses in our world are just so-so, or worse yet, downright inept. The author's latest book follows the success of his previous work, "The No Asshole Rule."

The book was about the harm done by jerks (or assholes) in the workplace and what others could do to survive working with them.

Sutton explains that while words like bullies, jerks, creeps or tyrants could be used, "the word asshole best captures the fear and loathing I have for these nasty people." Following many months of research, Sutton realised that everything came back to a central figure – the boss.

He thus set about writing a new book with the desire to share how to be a skilled boss or how to work for one. Or, perhaps just to avoid his colleagues calling him "the asshole guy."

Says Sutton: "Bosses matter because most employees have bosses, are bosses or play both roles". This book is about what the good bosses do, not the mediocre or bad ones.

The book stresses numerous ways of thinking that contribute to the mindset of a great boss. It provides advice on how to lead teams, followed by examples of how good bosses go about managing theirs, and occasionally how bad bosses lead theirs to destruction.

Sutton provides proven advice based on extensive research. By talking to and interviewing several successful CEOs and leaders in the United States, he has managed to gain an insight into what goes on in the workplace, why some companies are more successful than others and how some sports teams continually manage to succeed at the expense of others.

Packed with case studies, he shines the spotlight on the best behaviour of bosses, and how best to adopt them.

Sutton also points out that the key to becoming a great boss is to continue learning and improving, never to rest on one's laurels.

There is no magic formula to what makes a good boss, and anyone who promises an instant pathway to success is either "ignorant or dishonest, or maybe both," says Sutton.

Doesn't this sound all too familiar? While I respect many business school graduates and their theories, many books written by them are littered with nothing but ideas that are common knowledge, or worse, management speak.

Sutton is, unfortunately, guilty of both. For instance, he writes that "good bosses have their fingers (and ears) on the pulse of what their employees are thinking, feeling and acting."

A bad boss shuns and belittles his employees, and is probably the last in and first out of work. The main problem, therefore, is identifying how these incompetent people rise to the top in the first place, and why they are not willing to change their behaviour.

If we are only to focus on the cream of the crop, we risk the same problems that teachers face in school – the inability to improve bad students.

The novelty of this book lies in the fact that the author bases his theories on successful bosses, not just on assumptions.

However, there is nothing else in this book that sets it apart from its competitors (and there are millions of management books floating around in the market).

There is also a distinct lack of wit in the book, and though some might say that management books are not renowned for being funny, I would argue that the boss who picks up this book could be forgiven for thinking that the world of management is really as dull as the reputation that precedes it.

If you think that you are a terrible boss, and have no idea how to improve yourself or your relations with employees, then this is probably the right book for you (provided that you want to improve).

However, most bad bosses would probably not recognise their own faults, either because they are stuck in their own comfort zone or because they choose to remain ignorant.

The rest of us may never become a boss in our lifetime – in which case the best you can hope for is that your immediate superior falls into the first category – that is a good boss.

Bringing up Children... Lessons to learn...

This is a wonderful article about raising children in the right way & making sure we give good citizens to the society... .Worth giving it a deep thought and acting on it...!!



One young academically excellent person went for an interview for a managerial position in a big company. He passed the first interview; BUT in that Company, the director did the last interview, made the last decision. 

The director discovered from the CV, that the youth's academic result was excellent all the way, from the secondary school until the postgraduate research, never was there a year he did not score. The director asked, "Did you obtain any scholarship in school?" and the youth answered "no". 

The director asked, " Did your father pay your school fees?". The youth answered, "my father passed away when I was one year old and it was my mother who paid my school fees". 

The director asked, " Where did your mother work?" the youth answered, "my mother worked as cloth cleaner." The director requested the youth to show his hands and the youth showed a pair of hands that was smooth and perfect to the director. 

The director asked, " Did you ever help your mother wash clothes before?" The youth answered, "never, my mother always wanted me to study and read more books, furthermore, my mother could wash clothes faster than I could" 

The director said, I have a  request, when you go back today, go and help to clean your mother's hand, and then see me tomorrow morning. 

The youth felt that the chance of landing the job was high and when he went back, he happily wanted to clean his mother's hands. His mother felt strange. With happiness  mixed with fear, she showed her hands to the kid.

The youth cleaned his mother's hands slowly and his tears fell as he did that. It was the first time he noticed that his mother's hands were so wrinkled, and that there were so many bruises in her hands. Some bruises were so painful  that she shuddered when his mother's hands were cleaned with water. 

This is the first time that the youth realized and experienced that it is this pair of hands that washed the clothes every day to earn him the school fees and that the bruises in the mother's hand were the price that the mother paid for his graduation and academic excellence and probably his future.

After finishing the cleaning of his mother's hands, the youth quietly washed all the remaining clothes for his mother. 

That night, the mother and son talked for a very long time. 
Next morning, the youth went to the director's office. The director noticed the tear in the youth's eye and asked: "Can you tell  what you did and learnt yesterday in your house?" 
The youth answered, "I cleaned my mother's hands and also finished washing all the remaining clothes".

The director asked, "Please tell me what you felt" 

The youth said:

"Number 1, I know what  appreciation is now'. Without my mother, I would not be successful today. 

Number 2, Now I know how to work together with my mother. Only now do I realize how difficult and tough it is to get something done. 

Number 3, I know the importance and value of family relationship."

The director said, "This is what I am asking, I want to recruit a person that can appreciate the help of others, a person who knows the suffering of others to get things done, and a person that would not put money as his only goal in life to be my manager. You are hired." 

Later on, this young person worked very hard, and received the respect of his subordinates, every employee worked diligently and as a team and the company improved tremendously.

The Lessons from this anecdote:
A child who has been protected and habitually given whatever he needs, develops "entitlement mentality"and always puts himself first. He is ignorant of his parents' efforts. When he starts work, he assumes every person must listen to him, and when he becomes a manager, he would never know the suffering of  his employees and always blame others. These kinds of people,  may/will achieve good results and  may be successful for a while, but eventually would not feel a sense of achievement or satisfaction. 

If we happen to be this kind of (protective) parent, this is the time to ask the question

- whether we did/do love our kids or destroy them. 

-You can let your kid live in a big house, eat a good meal, learn to play the piano, watch a big screen TV but when you are cutting grass, please let them experience it. 

-After a meal, let them wash their plate and bowl together with their brothers and sisters. 

-It is not because you do not have money to hire a maid, but it is because you want to love and show them the  correct way.
 
-You want them to understand that no matter how rich their parent are, one day they will grow old, become weak and that their hair too will grow grey.

-The most important thing is for  your kid to learn how to appreciate, experience and learn the effort and ability needed to work with others to get things done. They should also value, appreciate what the parents have done and love them for who they are!

Lessons from Dr. Randy Pausch

Dr. Randy Pausch

He was amazing. He died of pancreatic cancer in 2008, but wrote a book “The last lecture”before then, one of the bestsellers in 2007. What a legacy to leave behind… Do watch his video which is available on You tube In a letter to his wife Jai and his children, Dylan, Logan, and Chloe, he wrote this beautiful "guide to a better life" for his wife and children to follow. May you be blessed by his insight.  POINTS ON HOW TO IMPROVE YOUR LIFE  Personality: 1. Don't compare your life to others'. You have no idea what their journey is all about. 2. Don't have negative thoughts of things you cannot control. Instead invest your energy in the positive present moment 3. Don't over do; keep your limits 4. Don't take yourself so seriously; no one else does 5. Don't waste your precious energy on gossip 6. Dream more while you are awake 7. Envy is a waste of time. You already have all you need.. 8. Forget issues of the past. Don't remind your partner of his/her mistakes of the past. That will ruin your present happiness. 9. Life is too short to waste time hating anyone. Don't hate others. 10. Make peace with your past so it won't spoil the present 11. No one is in charge of your happiness except you 12. Realize that life is a school and you are here to learn. Problems are simply part of the curriculum that appear and fade away like algebra class but the lessons you learn will last a lifetime. 13. Smile and laugh more 14. You don't have to win every argument. Agree to disagree. Community: 15. Call your family often 16. Each day give something good to others 17. Forgive everyone for everything 18. Spend time with people over the age of 70 & under the age of 6 19. Try to make at least three people smile each day 20. What other people think of you is none of your business 21. Your job will NOT take care of you when you are sick. Your family and friends will. Stay in touch. Life: 22. Put GOD first in anything and everything that you think, say and do.  23. GOD heals everything 24. Do the right things 25. However good or bad a situation is, it will change 26. No matter how you feel, get up, dress up and show up 27. The best is yet to come 28. Get rid of anything that isn't useful, beautiful or joyful 29. When you awake alive in the morning, thank GOD for it  30. If you know GOD you will always be happy. So, be happy.  While you practice all of the above, share this knowledge with the people you know. Not only will it enrich YOUR life, but also that of those around you.

7 Secrets to Stay Cold-Free All Winter Long

This article was published on Oprah website - which has been written by Dr. Mehmet Oz.... I found this article interesting and hence placing it here. 


Every year I dread cold and flu season—not just because I hate feeling sick but because, like most of you, I'm already spread thin between work and family responsibilities; being stuck in bed for days just isn't an option. Luckily, over the years, I've picked up a few scientifically proven tricks that have helped me stay healthy when the mercury drops.

Have H2O in Flight
Canadian researchers have found that air passengers are over 100 times more likely to get a cold than those who travel by bus, train, or subway. My rule for holiday air travel: Hydrate. The plane's dry air can sap moisture from the lining of your nasal passages, creating tiny cracks that make you susceptible to infection. Water can help moisten those membranes.

Forget Echinacea
There's actually no conclusive research proving echinacea to be effective against the common cold. What do I take instead? Vitamin D. Studies have found that D can stimulate the production of a virus-killing protein, and taking D supplements (aim for 2,000 IU a day) can lead to fewer viral infections.

Brave the Cold
No matter how low the temperature, I take a brisk walk every day. Exercise boosts the circulation of immune cells throughout the body, and research shows that walking 30 to 45 minutes a day, five days a week in winter can cut your sick days in half.

Warm Up with Tea
New research from the University of Michigan supports the growing body of evidence that the antioxidant quercetin may protect against infection by preventing viruses from replicating. Black and green teas are packed with quercetin, so sip a hot cup once a day.

Avoid Antibiotics
These drugs are not only ineffective against the flu—which is caused by a virus, not by bacteria—but can lead to adverse effects like upset stomach, diarrhea, and even yeast infections. If you get the flu, ask your doctor for an antiviral drug such as Tamiflu. But act fast—studies have found that these drugs work best within 48 hours of the first symptoms.

Dodge Germs
Flu viruses can survive on surfaces for over two hours, but you can't wash your hands 24-7—so when is it most important to scrub up? Scientists from the University of Virginia recently pinpointed the areas of your home most likely to harbor germs: refrigerator handles, remote controls, and doorknobs.

Enjoy a Comfort Food
Chicken soup really can treat a cold. The hot vapor expands your airways, which helps to clear mucus from the nasal cavity. Plus, University of Nebraska researchers found that chicken soup has an anti-inflammatory effect that may soothe a sore throat.

Employee Engagement: Great Leaders Inspire & Expect It

Employee Engagement: Great Leaders Inspire & Expect It

This is a very different perspective towards employee engagement.. suggested by Kate.. I really liked this article...

Getting into the world of 3G

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1st generation:

2nd generation

3rd generation: ( 5th November 2010 - Tata Docomo 3G Launch)

P.S : The above is a piece of article written in view for the '

3G Life Blogger Contest

under the category of What is 3G life to you? Please do vote for this entry if you like it  Thanks to Indiblogger and Tata DOCOMO for this opportunity.

The Difference 3G can make!!!!

Please do remember to vote for this post on Indiblogger if you find it deserving enough.

This is the story of people from 3Generations who have impacted the lives of us Indians in so many ways.. 


1) The beginnings of the Tata Group can be traced back to 1868, when Jamsetji Nusserwanji Tata established a trading company dealing in cotton in Bombay (now Mumbai), British India. This was followed by the installation of Empress Mills in Nagpur in 1877. Taj Mahal Hotelin Bombay (now Mumbai) was opened for business in 1903. 


2) Sir Dorab Tata, the eldest son of Jamsetji became the chairman of the group after his fathers death in 1904. Under him, the group ventured into steel production (1905) and hydroelectric power generation(1910). After the death of Dorab Tata in 1934, Nowroji Saklatwala headed the group till 1938. He was succeeded by Jehangir Ratanji Dadabhoy Tata. 


3) The group expanded significantly under him with the establishment of Tata Chemicals (1939), Tata Motors and Tata Industries (both 1945), Voltas (1954), Tata Tea (1962), Tata Consultancy Services (1968) and Titan Industries (1984). Ratan Tata, the incumbent chairman of the group succeeded JRD Tata in 1991.


The list can go on.. but then we all know.. how great the Tata Brand has being.. and again this brand is gearing up to affect millions of lives in India on the occassion of Diwali...!! the official 3G Life website

TATA DOCOMO is a Tata Teleservices Limited's (TTSL) cellular service provider on the GSM platform-arising out of the Tata Group's strategic joint venture with Japanese telecom giant NTT Docomo in November 2008. Tata Teleservices has received a pan-India license to operate GSM telecom services, under the brand "TATA DOCOMO" and has also been operates in 18 telecom Circles. 

It offers both prepaid and postpaid GSM cellular phone in 18 circles including Madhya Pradesh & Chhattisgarh, Orissa, Maharashtra & Goa,Punjab, Haryana, Uttar Pradesh, Karnataka, Kerala, Tamil Nadu, Chennai, and West Bengal. It has become very popular with its one second pulse especially in semi-urban and rural areas. They are launching their service from the south of India to central, east and north. 

On 19 May 2010, the 3G spectrum auction in India ended. Tata Docomo paid  5864.29 crores for spectrum in 9 circles. The circles it will provide 3G in are Gujarat, Haryana, Karnataka,Kerala, Madhya Pradesh & Chhattisgarh, Maharashtra (excluding Mumbai), Punjab, Rajasthan and Uttar Pradesh (West). 

Tata Teleservices (TTSL) will become first private sector telcom company to launch 3G services in India. TTSL is going to start the services in all the nine circles for which it won the spectrum this Diwali. That makes it before November 5.

What can 3G do for us?

The superior technology and bandwidth of 3G will add an invaluable dimension to modern life. New services will include person to person video, video live streaming and video downloads of entertainment, news, current affairs, and sport content in ways never seen before. In addition, there will be video messaging and global positioning applications. People will be empowered not only talk to each other while on the move, but also see what each other means. After all, a picture is worth a thousand words.

In a digital era characterised by a profusion of information, 3G offers an unprecedented level of personalisation to suit customers' individual interests and needs.

• Person to Person Video Calls
  People love video and mobile video is at the heart of vision. We can use our 3G devices to make a video call to our family - see them as we talk - and let them see us as well.
• Entertainment
  With 3G devices we will soon be able to access video clips of news and sporting events anytime, anywhere. We will be able to exchange "postcards", listen to music, play interactive games or book tickets to see live events. The device could alert us when our favourite sports team or entertainer is performing and it could even tell us where to find the best shopping or restaurants, based on where we are at the time.
• News and Information
  News, entertainment and a wealth of information tailor-made to meet each individual's specific interests will be available at the touch of a button.
• Business
  3G mobile linkups will routinely be used in daily business situations. We will hold video conferences with clients, send pictures, documents or data, and be able to receive instant feedback without meeting up or even being in the office. The technology will enhance business logistics and marketing, with applications meeting specific requirements of individual enterprises. Efficiency in time-critical situations, such as medical emergencies, will also improve through the use of 3G technology.
• Global Positioning
  The "always on" Global Positioning System (GPS) will offer centralised location-based intelligence that will greatly improve deployment of available resources in the field. In turn, operators in the field will enjoy superb navigation assistance, with instant access to street maps, traffic reports and weather information. Furthermore, customers calling via a 3G device could be directly linked to, and located by, service providers. The same application could make all the difference in cases of emergency.
• M-commerce
  Using our 3G "electronic wallets", we will soon be able to conduct financial transactions while on the move. Simply by keying in our own secure payment pin number, we will be able to place a bet, bid on an on-line auction, trade stocks or simply pay for our groceries or taxi fare.

For the already booming Indian Industry, having a 3G network will act as a catalyst in speeding the way things work in an accelerated way... !!!!!

P.S : The above is a piece of article written in view for the '

3G Life Blogger Contest

under the category of What is 3G life to you? Please do vote for this entry if you like it  Thanks to Indiblogger and Tata DOCOMO for this opportunity.