Americans Crave Constant Connectability, but Banks Remain Closed on Sundays

Written by buzz. Posted in Business

Banking on your phone is smart

As the fortunes of the world rebound, today’s economy proves to be a wonderfuly exciting time to be in charge of a large financial institution. Bank executives should be ecstatic about the task at hand; currently speaking, industry wealth has saturated the financial institutions, and it just so happens that there’s a growing trend of techno-savvy consumers who are freakishly eager to embrace new gadgets and technologies, instead of getting motivated about learning how to incorporate new tools instead of their ever-evolving super-sophisticated smart phones/ mobile devices.

People want to make deposits from across the street

According to Red Gillen, a Celent analyst, every bank that he’d spoken with had reported that their adoption numbers exceeded expectations. A few notable statistics found in a recent research study by mobile tracking vendor Sybase 365 included: 67 percent of Americans who claim tat they prefer to be in constant contact; 69 percent report they use SMS; 39 percent expressed an interest in mobile banking, and another 32 percent would even change banks to take advantage of free mobile banking.

Despite the apparent American interest, the consumers of the US are lagging behind their European and Asian counterparts, who have adopted the widest range of mobile services that are theoretically available.  This can be expected when considering how American banks weren’t very quick on the draw.

Perhaps the banks don’t want to progress the system? Weird.

Somehow, The Federal Reserve Isn’t Getting A Regulation Make-Over

Written by buzz. Posted in Business

The Federal Reserve is a private corporation

Despite the barrage of nuclear criticism that welted upon the Federal Reserve for its failure to prevent the financial crisis, the despised board may crawl away like a cockroach from under the foot of regulatory reform; somehow the bank – which is a private corporation mind you (think Federal Express not really federal is it?) – has escaped with not just its bank overseer/ supervisory powers completely unaffected, but with a newfound level of authority to enhance their capacity to enforce them.

Currently, a swarm of bipartisans are fighting to regulate a large majority of the central bank’s authority, which initially extended well beyond just a 800 state-chartered banks, and onto another 5,000 more holding companies. The bill that would accomplish

Lincoln invented Greenbacks to fund the war; the central banks funded his opponents

regulatory reform was introduced by Senate Banking Committee Chairman Chris Dodd, and it effectively reduced the Federal Reserves authority to only the 55 biggest holding companies. His opponent, Sen. Kay Bailey Hutchinson introduced an amendment on Friday that asks to reverse the very provision that could force the Federal Reserve Company to actually do their job. The Republican from Texas is backed by Senators Bob Corker (R-Tenn) and Jon Tester (D-Mont; so, is he really democrat?), plus nine co-sponsers, all striving to keep the Federal Reserve’s and in the pockets of smaller institutions.

Has American learned her lesson, or is everybody going to let business continue as usual?

The Regional Recession Recedes, but Foresight Foresees a Problem with It

Written by buzz. Posted in Business

loan-to-deposit

As some jump for joy over a receding recession (depression), market watchers wonder why regional bankers are prematurely celebrating. The minor detail generally missed concerns loan-to-deposit rations; in other words, a way to indicate how much a bank depends on external finances coneys a free fall as more consumers save, and regional banks loan out less.

Executive by the likes of KeyCorp, Marshall & Ilsley Corp. and First Horizon Nation Corp. may stand by claims that the falling ratios of yester-quarter fostered a boost in margins and liquidity, but objective analysts see straight through the garbage. They drew attention to the fact that a such trend indicates weak lending, and deposits headed toward less-profitable alternate routes.

Regional banks celebrate to the market watcher's dismay

In a nutshell, more money has gone in to regional banks than out, which has rendered them saturated in liquidity, desperately scrounging juice margins by slashing rates on checking and savings accounts. The fact is that banks aren’t giving anybody loans; in conjunction with unemployment and widespread household vacancies, the prospects for consumer and commercial growth are insubstantial.

The chief investment officer at Point View Financial Services Inc., David Dietze, tied dreadful consequences to the plummeting ratio, which could drastically affect the economy: “over-saving and under-lending can lead to deflation.”

Gold Price Holds Firm Despite Dollar Strength: Investing In Gold Is The Best Option

Written by buzz. Posted in Business

Investing in Gold

Introduction:

Are you afraid of investing in stocks and mutual funds when the world economy is still struggling to get better? If we think about investing in CDs and fixed deposits to make it secure, the decreasing interest rate offered by banks are not very encouraging. In some parts of the world, for example in India, people have a tendency of buying gold as a part of their long term investment plans. This article will help you to understand how fast you can grow your money by investing in gold.

Gold Price:

Have you ever given in-depth thought to the increase in the price of gold globally? If you look at the analysis done for the past 10 years, you will be surprised to find that the price of gold has greatly increased. In 2001 it was as low as US$ 255.95 per ounce, and now, in 2010, the price of gold is US$ 1217.40. Investing in gold also provides long term capital gain to buyers.

Gold Bar:

Gold bar, also known as gold brick, is classified into two categories: ‘minted’ and ‘casted’, depending on the method in which it was processed. Mitsubishi Materials Corporation manufactured the world’s largest gold bar, that weighed around 250 kg. Investing in a gold bar also gives the buyer great purchasing power.

Gold Coin:

Since we are in an era of declining monetary value, investing in gold coins is the best option to protect your wealth. The best part of a gold coin is its 24k value, whereas buying gold in jewelry form may not have this advantage. If you watch the market closely, millions of dollar transactions are made on gold coins. You can also get gold coins with designs such as the Canada maple leaf, religious signs, and sculptures of gods from different cultures.

Conclusion:

Be it a long term or a short term investment, there are chances with other investment options that can lead to ‘capital loss’. Gold is the only investment mode that is going to keep your money growing and secure. Investing in gold will surely protect your wealth, and is a well accepted option globally, providing potential profits at all times.

Capital Gain And Loss To Cut Tax Bills

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Stock market investments are considered assets that can lead to capital gain or loss

Introduction:

The basic theory behind a trade is that it is considered successful when a product is sold at a higher price  than the base cost, i.e., the amount of money spent while buying a product or investing on an asset. Capital Gain and Loss are the important facts you must understand well before investing or selling an asset. This article will help you calculate these profits, losses and the benefits obtained while filing for tax refund.

Understanding Capital Gain and Loss:

Capital Gain is the profit you earn from selling an asset.  Real estate, bonds, mutual funds, gold, diamonds, stock market investments are all considered assets or capital investments. Until you sell a particular asset, you enjoy the benefits without paying any tax. If you sell an asset at a higher price than the amount you invested while buying, you receive a profit out of the sale. This profit is known as Capital Gain. If the asset is sold at a lower price, you face depreciation, which is known as Capital Loss.

Calculating Capital Gain and Loss:

For calculating capital gain and loss you need to know the following information:

Cost Basis – The original cost paid while buying an asset

Sale Price – The current value of the asset – amount you received from the buyer

Cost Basis – Sale Price = XYZ(amount)

If XYZ is higher than cost basis, then that amount is your Capital Gain

If XYZ is lower than cost basis, then that amount is known as Capital Loss

Capital Gain Tax Essentials:

Once you have calculated Capital Gain and Loss, you need to update the amount in the tax form while filing for your tax refund. If the asset is held for more than a year or two, it comes under ‘long term’ gain or loss and a lower rate is applied while taxing. The period you have held the asset determines the tax benefit rate to which you are entitled. The longer the period for which you held the asset, the lower the tax rate.

Conclusion:

In-depth knowledge related to financial information such as investments, wages and taxes withheld makes things easier while filing tax for refund. Even if you plan to work with a finance specialist or tax consultant, it is highly advisable that you understand Capital Gain and Loss, in order to reap applicable benefits.

US Tax Planning:Understanding Form W-2, Wage and Tax Statement

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Understanding Form W-2

Introduction:

Tax planning is an important task that takes demands quality time and energy. If we understand the technicalities behind every jargon in financial statements and wages, tax filing becomes easier at the end of the calendar year. This article will focus on helping you to understand Form W-2, Wage and Tax Statement.

What is the Form W-2?

As a part of the Employer-Employee relationship, Form W-2 is completed by employers describing the earnings and taxes withheld from the employees for a particular year. The United States income tax system uses this form as information from the employers for their employees while filing taxes.

Form W-2 Deadlines:

Employers must complete and provide this form to the employees by Jan 31st of the calendar year. If a person has worked with multiple employers within a year, he/she will receive forms from each employer. If a single person has worked for a single employer in multiple states, the employer needs to provide multiple forms for each state. Some employers prefer to have multiple rows of states in each or all forms. As an example your employer(s) must have given you a W-2 form for the year 2009 – 10 by January 31st, 2010.

How to Read Form W-2:

Before filing the forms with authorities, it is very important to read if the information provided in Form W-2 is correct.

Box a – f – Your personal information (Check for your SSN)

Box 1 and 2 – Wages, Tips, Federal Income Tax withheld for the year

Box 3 and 4 – Social Security Wage and Tax withheld

Box 5 and 6 – Medical wages, tips and Tax withheld

Box 7 and 8 – Tips that were not reported to the employer and tips allocated by the Employer

Box 9,10 and 11 – Advance EIC, Dependent care benefits, non qualified plans

Box 12 a -12 d – For Reporting

Box 13 and 14 – Statuary Employee, Retirement plan, Third-party sick pay

Box 15,16 and 17 – State Wage, tips and Income Tax

Box 18,19 and 20 – Local Wage, tips and Income Tax, Name of the locality

Correcting Form W-2:

If you see any error in the form, please inform your employer immediately. The employer will correct the information and issue a new W-2. If you have not filed your taxes, you can use the new form. If you have already filed for a tax return, you need to file an amended form again with the IRS. If so, the new form should have a term ‘corrected’ written by the employer.

Conclusion:

You can file your taxes online for refund purposes. If the finance statements are confusing and taking too much of your time, it is advised that you contact a finance specialist or an expert for additional question and further help with tax filing. Even if an auditor is helping to file your taxes for refund, it is very important that you understand the technicalities of Form W-2, and other related information.

240 Million Business Customers to Use Cloud Computing in 2015

Written by buzz. Posted in Business

Cloud Computing

Introduction:

Everyone is talking about Cloud Computing nowadays. “I am a small business owner….Why should I worry about all this jargon? ” or “My business has nothing to do with IT and why should I bother knowing about  this new technology?”.

Are these questions running in your mind? If you are using the Internet to gather knowledge, market your products or for any other business purpose, you should understand how this technology can save time and money. Please read on.

What is Cloud Computing?

Do you remember the day when you created your own email id, started communicating to your friends and family, and later with your business stakeholders. Even today you can access your emails that were sent back in the 90’s. A server is a place in which all your emails are stored. Cloud computing works similarly, but in a bigger way, to keep your business communications secure, store your documents and take care of all IT related activities from a single place, aka a cloud. To put it in simple words, software and related services are handled over the internet through a browser.

Cloud Computing and Business Management:

When you prepare a presentation or a document, you share it with business people to make necessary changes through emails.Documents are being sent to and forth as attachments before getting into a final shape and saved in a common server which needs constant maintenance. How would you feel if I say you can live without the headache of maintaining your server or software? Yes, it is possible. Since cloud computing is maintained by a third party, it can take care of the server and other related problems, and you can focus more on developing your business.

Cloud Computing to Save Time:

Though it sounded comfortable initially with email attachments, you now know how tough it is  to maintain multiple versions of each document and how time consuming it is waiting until the other person sends the document after making the changes. If you forget to name it properly with an appropriate version control or the person who is responsible to make changes has fallen sick, well, I leave it to you to imagine how messy the situation could be.

Time management becomes easier when you have all the business documents, presentations, reports stored in a common server over the web. All those people involved in your business can access all these documents from different locations at any timezone. This is just an example of how you can save time with cloud computing.

Cloud Computing and Cost Saving:

If you check your latest balance sheet, you will find out that a certain percentage of cost is spent on upgrading the software or buying new licenses. With cloud computing you don’t have to worry about the expiration of your software licenses or upgrades, and the cost related to it. Also, these changes are happening over the internet, so you not only save the cost, but also the time it takes to upgrade.

Conclusion:

According to a recent survey results published on 5 Feb 2010, around 150 IT decision makers at small and large companies across the country found that three quarters of companies have identified the development of cloud computing as a priority for 2010. Though security and support system are considered as ‘yet to be developed’ areas of this technology, aggressive researchers are happening to circumvent this. It is advised to embrace this technology to be in touch with the world, so that there is a future to your business.

Go Green in Business: Increasing Customer Satisfaction and Improving Community Relations

Written by buzz. Posted in Business

Go Green in Business

Introduction:

It is very important to save our earth while conducing business. Many organizations have started implementing policies on using products that are earth friendly. Do we ever think about the earth we are going to leave for our future generations? Millions of dollars saved in our bank accounts cannot save our children, if the earth and water is contaminated and not in a usable state. This article will explain how you can implement Go Green in Business and save your business, and in turn save the natural resources for the future generations.

Go Green in Business Policy:

The world has grown to a population of over 6 billion people in 2000. It is expected that the world population will be over 9 billion in another 40-50 years. If distributed evenly, only 25% of natural resources will be available to those living in 2050. Things we dispose of contribute to at least 25% of global warming. It is important that we recycle or avoid excess usage of certain products to protect our earth.

Save Energy to Save Money:

It is very important to understand how much money can be saved by minimizing the energy usage. There are couple of easy to do tips one can implement to go green in business.

  • Adjust the thermostat in your office to few degrees lower during winter, and a few degrees higher in summer to save energy
  • Review the level of energy and water usage at your business, and see if any of these can save cosst by recycling
  • Unplug the electrical products while not using them
  • Take steps on common commuting plans like carpooling

Save Trees by Optimizing Paper Usage:

Do you know how many trees are being cut to prepare a bundle of paper? Each time we cut one tree, Earth moves two steps towards its end, and the end of your business too. Start implementing these simple procedures immediately to go green in business to save our planet.

  • Avoid printing, unless it is absolutely necessary
  • Make use of presentation tools and online tools for presenting your projects
  • Cut costs on paper brochures, newsletters by using bulk Emails and E-Newsletters – this way you will be able to reach a huge audience
  • Purchase access to virtual libraries and make them available to your employees. This way you can cut down costs of building a library or avoid buying certain books

Recycle or Donate the Electronics:

Do you know that when a used battery is thrown into trash, what happens to the earth and water? The chemical contents in the battery leak out, and spoil the earth on which we grow our vegetation. Water and food contamination cause many health problems.

  • Go green in business by recycling or donating your computers and mobile phones when you don’t need them
  • Encourage your employees to do the same
  • You can upgrade or exchange these electronic products and save money

Using Solar Power and Wind Energy to Go Green in Business:

Carbon emission while using electrical energy in any form spoils our earth.

  • Using solar power to run your machinery can save you huge amounts of money
  • Water can be heated using solar energy
  • Small solar devices are available to charge your mobile or ipods

Conclusion:

Creating awareness among your employees, other business stakeholders and the community about using greener products is very important.  Please remember that you not only save money by implementing policies to go green in business, but you also save the earth!

Welcome!

Written by buzz. Posted in Business

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Finance Software Creates Efficiency in Business

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Finance Software Creates Efficiency in Business

Introduction:

Are you tired of having multiple spreadsheets or excel sheets for analyzing your finance statements? There are finance software available which can help to manage your personal as well professional finances. This article will walk you through the various aspects of Finance Software, and how they can help with managing business finance.

How does Finance Software work?

Finance software, at their back end, have multiple calculation techniques interlinked for managing your different finance needs. At the front end, you get different fields and spreadsheets just to input data. When you run the tool, it displays the information you want to see. Can you think of data you need to assess. Well, I have given you some examples below…

  • Everyday Expenditures
  • Loans and Mortgages
  • Insurance details
  • Periodic investments and purchases
  • Income
  • Buy, lease or rent (in, out)
  • Cash flow analysis
  • Return on stock and other investments
  • Handling different currencies

Reports Generation using Finance Software:

You can generate various reports (examples given below),and set a reminder for certain periodic activities like monthly payments, upcoming bills,etc.,

  • Income and Expenses ratio for a particular month/week
  • Present and Future value of money
  • Taxation
  • Projected Cash flow

Advantages of a Finance Software:

  • Time saving on finance analysis
  • Track multiple accounts
  • Easy to manage different data
  • Reports can help make changes in the current business activities
  • Help to find a gap between income and expenses

Check out the following before purchasing Finance Software:

There are open source software and online tools available for free. You can try using them. Free tools have limited advantages, open source software may not have all the needed features; but I would suggest to try some of these for managing your personal finance before deciding on paid software. There are other software you can buy for a one time fee, or yearly / monthly fee basis. They are worth the investment considering the hassle involved in using multiple spreadsheets.

Conclusion:

Using finance software will definitely reduce the burden with complex investments and expenses. With easy to manage, do it yourself technicalities, they not only help track your finance accounts and statements but also help manage your long term investment strategy plans. Let the software take care of your finance, live a hassle free life!

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