Things to Consider While Buying Insurance

Uncertainty can take place in a person's life any moment, as no one in this world can depict the future. Next moment what can happen no one knows so to protect himself and his loved ones for future and present many people decide on buying an insurance policy?

Not only individuals but also corporations depend on insurance policies, as this is the place where the loss is transferred to a third party who bears the burden. There are two parties concerned in this agreement, the insurer and the insurance company where the policy has been taken. 

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Prepare for Income Tax Season

Tax season is here. Whether the taxpayer is paying taxes, or expecting a refund; organization will make the process of filing income taxes much less stressful. Buying an accordion organizer and labeling the sections according to specific needs will make the task less ardous. Keeping all tax forms in a section, medical and dental in a section, and other income in a section, will make tax paying time much less stressful.
As tax forms arrive in the mail, such as W-2' s, 1099's, SS-A'S, and K-1' s, the tax filer should keep them together in a section an accordion organizer. This way, preparing for income tax season, everything will be in a central location. Before making an appointment with the accountant, or self-preparing; the tax filer can make sure all needed information is together. The taxpayer needs to check this periodically as forms come in the mail. If something is missing, it will take time to replace it, so the filer shouldn't wait until the last minute. 
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VAT Changes from 1st April 2010

1. Any VAT-registered contractors with turnovers of £100,000 or more (excl. VAT) will need to submit their VAT returns online, and also pay their VAT liabilities electronically.
2. Any new businesses registering for VAT from 1st April will automatically need to deal with VAT electronically from the start, regardless of turnover.
3. All VAT cheque payments sent via post are only deemed to be 'received' by HMRC once cleared funds reach HMRC's bank account, rather than the date with the cheque was actually received. Businesses are therefore urged to allow enough time for cheque payments to reach HMRC, or late payment surcharges may be applied.
4. Any business or person issuing a VAT-inclusive invoice, when they are not entitled to charge VAT, will be subject to a new VAT 'wrongdoing penalty', which will be a percentage of the unlawfully charged amount of VAT on the invoice.
5. The VAT registration threshold rises from £68,000 to £70,000 from 1st April 2010. The de-registration limit rises to £68,000.
You can register to file your VAT returns online here, or your accountant may do this on your behalf, so check fir

Ref: contracteye.com
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Financial planning tips for IT

Given the obvious strain on the public finances we already know that company and personal tax is set to rise next year.
2009/10 could be the year to bring forward plans to draw out retained profit, pay yourself a bonus or engineer a better trading year than you will experience in 2010/11.
Pensions provision is always an efficient way to get money from company into personal hands.
In most cases contractors can transfer virtually all of their income, tax free, into a pension although the budget has clipped the wings of the highest earners and they can now only invest £20k and be certain of higher rate tax relief.
Starting to drip feed higher amounts into a scheme now could help you to exploit depressed valuations on the equity and bond markets In particular US, emerging markets and smaller companies in general look set to prosper as the worse of the bad recessionary news is now out in the public domain.
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Income Tax Return (e-filing)

E-filing is essentially another mode of filing your income tax return
In addition to the popular mode of printing and submitting your return at the income tax counters. It is a two step process:
a. Prepare your return using tax preparation software
: Enter your income tax data, such as, PAN, income, deductions, and TDS. Review your data for completeness and accuracy; and, generate your electronic return in XML format.

b.Upload your XML format return on income tax department website. Upon successful uploading, it will generate an acknowledgement form called ITR-V. If you do not use digital signatures, then you have to submit the ITR-V at the income tax counter
.http://www.myallagents.com/Income-Tax-Return-efiling/details.html

New income tax slabs introduced:- Budget 2010-11

New Delhi: Further relief for individual tax payers, a steep hike in allocations for welfare schemes and infrastructure were among the high points of India's budget for 2010-11 presented Friday by Finance Minister Pranab Mukherjee, who said the worst was over and promised high, inclusive growth in the coming years. "Today, as I stand before you, I can say with some confidence we have weathered this crisis well," Mukherjee told the Lok Sabha, the lower house of parliament, while presenting the federal budget for the next fiscal. http://www.myallagents.com/New-income-tax-slabs-introduced-Budget-201011/details.html

Employment Insurance

About Employment Insurance

It has often been said that bad things can happen to you even without your cooperation. That can also be said about jobs and careers. Shortage of available work, mass lay-off and retrenchments, reorganizations and mergers, in today fast pace anything can happen. When it comes, the experience can be devastating for many, made worse when savings are not enough, debts are high and payments are in arrears.

Being prepared is always the best way to cushion the effects of loosing income. Having insurance employment makes you continue to enjoy the benefits of income. Employment insurance can aid you on receiving maternity, sickness compassionate care services, provide support for a member of the family who is ill, caring for an infant, even fishing benefits and many more.

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