1040 Tax Forms and Its Types

Filing a tax return on a IRS website is a bit hectic task. When one visits the site, there may be many 1040 forms and it would be little confusing about which form to choose. The brief information given below will help you to find out which 1040 tax form is appropriate.

1040 – Individual Income Tax Return

Usually if the deductions are higher than the standardized deductions and if you want to itemize the deduction, Form 1040 should be filed. For tax payers who are above age of 65 and for people who are blind, some deductions are applicable. 

1040EZ – Income Tax Return For Single and Joint Filers

1040 EZ may be filed if one is doing single or married and are planning to file the tax return independently or jointly. 

1040 NR – U.S Nonresident Income Tax Return 

1040NZ may be filed by nonresidents of the US. They pay tax only on US income source. Even if one has a business in U.S and if there is no income from that, it is required to file 1040NZ form. Rules for immigrants and residents are different. 

1040EZ – NR Income Tax Return For Certain Nonresident Aliens With No Dependants

If one has no dependants and if 1040NR apply, then 1040 EZ – NR may be filed. The taxable income should be $100,000 and the source of income should be salaries, wages, tips, scholarship, fellowship and local income taxes. 

1040 V - Payment Voucher

This is used to send the tax payment to the IRS. However, it is not mandatory to use the form.    

For  more details on 1040 US Tax Preparation Services, contact www.gkmtax.com

Why Tax Filing Preparation Services Should Be Outsourced

Tax filing is always considered to be a cumbersome and hectic task for the companies, be it a small scale or a multinational organization. Earlier everything were handled manually but today there are so many sophisticated software for these tax filing preparations and it can be completed in no time. Moreover, these processes are being outsourced from one country to other. Let’s discuss why should we outsource these tax preparation services and how are they really benefitting us.

• Operations costs are minimized.
• The calculations are arrived at a very faster rate.
• These services are available 24*7 for accessibility.
• These services will let us know any erroneous reports if exists and it can be avoided in the future.
• Deadlines can be met by these services.
• Miscalculations are avoided most of the time.
• Most of the offshore companies have well-experienced staffs for carrying out the complex jobs.

For more information www.gkmtax.com

Free English Worksheets For Preschool Kids

Kids started spending time on computer and internet these days. So online activities for them are very necessary. So it is the responsibility of parents to make sure that kids get finest and quality stuffs for their learning activity.

I would like to share the Free English Worksheets for Preschool Kids that I found online.

http://bforball.com/worksheets.php

Characteristics of Cloud Hosting

Cloud computing technology has become one of the buzz words in hosting industry today. Cloud hosting is one of the utilization of cloud computing. To put it in simple terms, a cloud is actually a server that can be accessed online. Users can edit and store files and do the related things online. In traditional hosting technologies, a website would be present in one server but in this type of hosting, a website operates on multiple connected server.

A best and real time example of cloud hosting by Google. This is how many users access this search engine simultaneously. Cloud hosting is also an appropriate solution for forums. If we want to host a forum site where some few thousands of users are registered and few hundreds are online most of the time, then cloud hosting is the best solution.

Below are the various characteristics of cloud hosting:

Dynamic Computing:

Cloud hosting easily adjust with user demand; there is no need to rework on the architecture framework because of its ability to compute dynamically.

IT Centric:

Usually the hosting would be service – centric or system -centric. But with cloud hosting, most priority is given to IT centric service. So that users can access the resource in a quick and easy manner.

Pay for consumption:

Users can just pay for what they use rather than paying for the whole package. Rather than that, a website that is on cloud can be accessed through all internet enabled gadgets like mobile, iphone and notebooks.

Pooling:

In this cloud hosting technology, the resources such as bandwidth, memory, processing, data storage and email services are pooled together so that it can be accessed by any one. Simultaneously, these resources can be used and shared by different users.

Flexible:

The unique thing about the cloud hosting is that it is scalable. New demand on bandwidth, data storage and speed of processing can be done with an estimation on the cost. These demand can be adjusted for a specific period of time too.

Thirukkural – The Classic Tamil Couplet

Thirukkural is one the famous English couplets written by Thiruvalluvar. Among the various epics and poems in Tamil, Thirukkural is considered as one of the precious gem.

The speciality of this tamil couplet is that the whole gamut of human life has been encompassed in a unique manner. It has the code of conduct and the values which mankind can follow for all time to come.

There are epics that tells about the specific aspect of life. But thirukkural is the only book that covers the almost all the aspects of life. Another unique thing about this thirukkural is that the lines can be memorised easily and can be shared instantly.

The values by represented by Thirukkural is applicable in daily to day life. This book can guide our thoughts and actions. Our actions can get purified. Our relationship with our fellowman can get purified. This book has been regarded as the most valuable book and it has been translated in more than 1000 languages. It has 1330 couplets under 133 chapters.

The topics covered are

1. Virtue

• Introduction
• Domestic Virtue
• Ascetic Virtue
• Fate

2. Wealth

• Royalty
• Ministers of state
• The Essentials of a State
• Miscellaneous

3.Love

• The Gandharva Marriage (The Pre-marital love)
• Wedded Love (The Post-marital love)

Usage of Lemon Cameras in Manipur Assembly Elections

The election commission of India has been making so many efforts in order to prevent the proxy voting. This was the reason for which the usage of Lemon Camera were proposed. Manipur was made scapegoat for experimenting this. In recently conducted Manipur Assembly Election, Lemon Cameras where used to capture images of the voters. This turned out to be dumb idea because of the fact that this mechanism was not properly planned.and implemented.

As a result of this, there were so many inconveniences. Most of the images that were caught on this camera were blurry and of very poor quality. In most of the caught images it was difficult to make out that it is a male or female. There are chances for the person who handled the device can tamper the stored images at any time. People felt that it is a total waste of time. It was done to for the cost cutting purpose but it resulted in waste of time, money for ECI.

Moreover this was strictly implemented in Hills than in Imphal valley. Any lapses in this would lead to Election commission of India to take the responsibility. There was no organic connect between the Electronic Voting Machines(EVMs) and the Lemon cameras. Disappointed manipur people put forth the point that election commission should exercise some options that are least damaging to the democracy.

Common Mistakes to be Avoided in Petty Cash Maintenance

Generally, managing the petty cash in a company is regarded as the simple bookkeeping task and it is given less importance. But unfortunately if these petty cash mishandled can lead to account bungling. The common mistakes range from missing or replacing small receipts to larger business audit. So bookkeeping should be given much importance in a company.

As far as the petty cash account management is concerned, the first mistake that the petty cash custodians make is that they sometime ignore the small amount spent for the company. For example may be 5 to 10$ for buying stationeries like pen, pencil or staples etc or some 2 to 3 $ for the maid for tidying up the office premises etc…These amount when lost track will add up to few hundred dollars and ATO will fail.

The next is that despite any payment method the receipts sometimes will not be kept recorded. If this is practiced it would lead to confusions. So cash receipts have to kept recorded or saved for future references. If the petty cash is maintained in the form of any electronic back up, in any of the websites or any in petty cash management software, it is very important to take a back up of the data frequently. The next factor is to classify the expenses and income properly.

Finally, in order to keep the book keeping tasking streamline manner, it is very important to have document for every step of a transaction. Any cash receipt should make an entry.