Data processing by Statistical tools

Now-a-days internet marketing or e-commerce is a booming sector, and hence the need of web analytics  has grown manifold. This web analytics is nothing but a special kind of data processing. This data process is entirely dependent on various Statistical analysis by using the Statistical tools.  

Web analytics is required to see the effectiveness of your internet marketing tools – how many are visiting your page, the duration etc. All the results help the business owner to plan accordingly. 

I use various web analytics tools including Google Analytics to analyze the pattern of traffic into my website. I also use Hadoop and MapReduce to see the time duration of the visit of my web pages. These tools naturally show the simple information like total number of page views. Besides, 

I often use advanced Statistical tools like probabilistic data structure to see some special information like the number of unique visitors or the page which is visited most frequently.  It simply uses the probability theory to show the number of unique visitors or the frequency of the same visitor. I am really happy having these data as I can plan my business growth plan according to the target demographic groups  i.e. proper market research becomes possible. I need the total number of visitors(total number of integers as per the web analytics result), number of unique visitors (number of distinct integers as per the result) etc.

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Posted By
Souvik Mitra
Content Writer
http://dataentryhelp.com/

India is the leading country for offshore outsourcing

India is the leading country for offshore outsourcing. The offshore outsourcing industry started in India and it has been able to grow the IT and BPO export sector to $47 billion and capture more than half the offshore outsourcing industry. That is not to say that India does not have challenges or is the best location for every offshore outsourcing effort, but it has an unparalleled history and size.

The Americas and Europe are the largest customers for the Indian outsourcing industry and account for 60 percent and 31 percent respectively of IT and BPO exports. The largest vertical sectors are financial services (41 percent), high-tech/ telecom (20 percent), manufacturing (17 percent) and retail (8 percent).  In 2011 the IT-BPO industry currently employs 25lakh people out of which 835,000 are employed by BPO exports industry.

IT and BPO services outsourcing first started in India in the mid 1980s. The large, English speaking, low-cost workforce was the main attraction. The industry grew rapidly through the 1990s aided by the dot com boom and IT upgrades to prepare for potential Y2K bugs. The 2000s saw similar growth with work moving to India in down cycles to help companies cut costs and in boom times to capitalize on the readily available talent.

The 2008-2009 global recessions has had a negative impact on outsourcing growth in India, but the sector is experiencing a turn-around in 2010. Many US and European companies are still cautions about the speed or staying power of the 2010 economic recovery and thus are looking to maintain a low cost base in locations such as India. We expect IT and BPO outsourcing in India to bounce back to double digit growth rates in 2012.

India has been the preferred outsourcing destination for most IT companies in UK and USA, mostly because of its affordable labour, English speaking workforce and stable infrastructure. 

The services sector in India contributes as much as 52% to the GDP growth and includes BPOs, KPOs, IT companies, ITeS etc. Due to the economical crises in America and European nations, the Indian outsourcing industry has evolved. This is because global IT companies are cutting down on costs and are seeking more cost effective solutions by seeking cheap resources. These include several changes in corporate behaviours such as staff reductions, bringing in new decision makers, better payment management and simpler value propositions.

Of course, changes in pricing trends see American and European companies deflating pricing for globalization services. Large companies, especially those that work on long term engagements such as TCS, Satyam, Wipro, etc. are not adversely affected. In fact, Indian IT services companies will prove beneficial to recession hit countries due to their ability to compete better. Business relations between India and these nations will improve, as a result.

Currently, the Indian economy is one of the largest emerging economies in the world. It is commonly grouped with Brazil, Russia and China as part of the BRIC countries that are having an increasingly important impact on the global economy.  The gross domestic product, measured by current exchange rates, hit $1.2 billion in 2008.  However when calculated using purchasing power parity, the economy is estimated to be about $3.4 billion, second of all top outsourcing countries.

Outsource your tax service instead of increasing your hassles level and risking your health

CEOs have one of the most stressful jobs as they are the company’s owner. Being the company leader, you should oversee the entire operations of your company. With the many responsibilities and grand expectations that come along with your job, a worry-free day may be rare for you. However, do not let this be the case! While your job may require a lot from you, you have to keep in mind that your health is as precious as your company. Running your business properly wouldn't be possible when you are unhealthy.

So, instead of increasing your hassles level and risking your health, search for a company offering tax service. Currently, other enterprises are doing the same thing because this option is deemed more beneficial for businesses.

Entrusting the preparation and filing of your taxes to a professional tax service provider is a good way of ensuring that your taxes are properly and accurately computed. This is because a professional company specialising in tax services is staffed with qualified and trained tax specialists. Furthermore, by working with a tax service provider, you don’t have to worry about filing your taxes as the firm’s going to do it for you. They ensure you that your tax returns are filed on time and you don’t have to worry for the last moment searching CPAs to file your return.

Basically, the greatest benefit of outsourcing the preparation of your corporate taxes is that you spare your company from having unnecessary expenditures because of government fines and sanctions arising erroneous tax computations or delayed payment. What’s more is that you get expert service at a lower price as compared to forming your in-house accounting team. Outsourcing your tax return preparation services is helpful for companies as they don’t have to appoint seasonal employees and they can save their overhead expenses.

With the relatively affordable cost and the several benefits of outsourcing tax service, there is no reason for you to not prefer this. More and more CPAs and accounting firms are opting to outsource tax return to India to help minimize operating cost and maximize efficiency and gain competitive advantage. As a business owner your time is best spent doing what you do well - working with customers. Time spent on preparing tax returns add little or no value to your customer relationship. Remember that with this option, you don’t just safeguard your health but also your company’s welfare.

Timely tax return ensures a proper business valuation

Tax Return is a seasonal work. It requires a lot of information and details and it is very much time consuming. Time is always premium for everyone whether it’s a big or small business organization. Since an in-house staff is inadequate in dealing with the complexities of the tax return procedure, outsourcing shows the way. This becomes all the more important when the issues of security are involved which can be properly managed with the help of tax return outsourcing services. Also, due to the lack of time on the part of companies prompts hasty decisions by the management and results in a tax report which is replete with errors. Outsourcing personnel who take pains to understand the situation of an organization, thus, is a perfect step towards mandatory tax file return. This ensures a turnover, which is commendable and helps a company in carving a niche for itself.

Tax return outsourcing requires expertise in dealing with a number of aspects like keeping a track of work flow management, staff management and other issues of strategic importance. The professionals in the tax return outsourcing firms have it in them, to provide efficient services by means of their years of expertise gained, while dealing with important projects of their erstwhile clients. The tax data software utilized for this purpose provides relevant printouts which greatly aid the process of timely tax return. In turn, this results in efficiency and concentration towards the core areas of importance which further help to garner rich profits for an organization.

Often, companies wait until the last moment to save their precious money resulting in an enormous wastage of time. It is only at the last moment that the companies rush to search for a CPA who can deliver. However, this requirement is fulfilled with the help of brilliant public accountants, who are quite capable to decipher the tax laws and thus help their clients in easing their complex problems. Timely tax return ensures a proper business valuation and in the development of efficient management systems for organizations. Tax return outsourcing firms assist organizations thus, in preparation of tax reports which speak of nothing else but sophistication.

A glaring reason why the businesses everywhere opt for the services of the tax return firms is that the cost factor which is duly in their favor. This is the main motivation factor behind outsourcing the personnel to carry out complex tax return projects for them. Tax return outsourcing services are timely and the immense benefits which follow on the completion of projects are quite visible for everybody. With the help of outsourcing services, companies are able to direct their efforts and energy towards other areas of concern which might have been overlooked. A good amount, which otherwise goes towards catering the whims and fancies of in-house accounting staff is utilized for the purpose of improving the core business areas. The outsourcing firms come with an attribute of confidentiality with an active assistance from e-filing system. This results in the organizations managing to have a tight control over the data facilities, private networks, data encryption and firewall security system.

Income Tax Return- haven't filed till yet?

If you have got delayed in filing your tax return or have other prior year returns that have not been filed, you should consider the consequences of not filing the returns.

All the tax returns that are due, should be filed by the taxpayers, regardless of whether or not full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. All payment plans require continued compliance with all filing and payment responsibilities after the plan is approved.

Some basic Facts about filing Tax Returns

• Late filing of return or failing to file a return can be costly.  If taxes are owed, a delay in filing may result in penalty and interest charges that could substantially increase your tax bill. The late filing and payment penalties are a combined 5% per month (25% maximum) of the balance due.
• If a refund is due, there is no penalty for late filing or failing to file a tax return. But by waiting too long to file, you may lose your refund. In order to receive a refund, the return must be filed within three years of the due date. If you file a return and later realize you made an error on the return, the deadline for claiming any refund due is three years after the return was filed, or two years after the tax was paid, whichever expires later.
• Taxpayers who are entitled to the Earned Income Tax Credit must file a return to claim the credit, within three years of the due date in order to receive the credit, even if they are not otherwise required to file.
• If you are self-employed, you must file returns reporting self-employment income within three years of the due date in order to receive Social Security credits toward your retirement.

Taxpayers who continues non filing of required return and fail to respond to IRS requests to do so may be subject to a variety of enforcement actions, all of which can be unpleasant. Thus, if you have returns that need to be filed, please contact http://www.work2india.com/ so we can help you bring your tax returns up-to-date, and, if necessary, advise you about a payment plan.

Arguments against Outsourcing Services

Outsourcing business processes overseas is increasingly common in the banking, financial services, retailing, insurance, and telecommunications sectors. Economists and accounting professionals expect this trend to accelerate.

One concern about outsourcing tax preparation is the privacy and security risk of posting confidential client information to a facilitator’s website. For example, some clients may not want their information sent to a third party that is not directly supervised by their CPA. Fortunately, the growth in e-filing of tax returns has spurred tighter security controls, which are also available from facilitators. Secure data facilities, private networks, firewalls, and sophisticated data-encryption techniques now mitigate online privacy and security concerns about outsourcing. Although no electronic transmission of data, including the e-filing of tax returns, can ever be completely secure, outsourcing overseas can increase privacy and security concerns because of the interjection of a third-party preparer not directly supervised by the outsourcer.

A second concern about outsourcing is that it limits the tax-preparation experience of entry-level accountants. Veteran CPAs may remember similar concerns in the 1960s and 1970s, when electronic systems replaced manual accounting systems. Newer staff accountants in offices using outsourcing may require new or expanded training to replace experience preparing returns. The role of these staff will likely involve less routine preparation work and more client interviews, expanded tax-planning engagement responsibilities, and an expanded apprenticeship period working with veteran tax consultants to review processed tax returns. Some are concerned that it will take longer for new staff to understand the tax effects of transactions because they will miss the learning that takes place when someone actually works with and comes to understand the internal logic of the forms.

Although outsourcers may also be concerned that political instability in the country of the facilitator may interrupt processing operations, such concerns have not prevented many large financial-service organizations (e.g., Citibank, American Express) from outsourcing operations.

Another barrier to effective outsourcing is technology capability. Hardware, data storage, software, and knowledgeable staff are required to move tax preparation from manual processing to a web-based processing system.

Finally, both clients and CPAs may have concerns about the quality of outsourced services as well as the patriotism of overseas outsourcing.

Explanation of Tax return form 1040

If your income is on US taxes and you are living abroad, fortunately your income will be reported in the same way when you live abroad as it would be if you were living in the US: via IRS Form 1040.

Good record-keeping throughout the year is essential for the accurate preparation of your US tax return– no matter what form you are filling out. This is particularly important when it comes time to report all of your foreign earned income, because leaving anything out could get you in trouble with the IRS. Note that income must be reported regardless of where it was earned, what foreign taxes were already paid on it, and what currency it was earned in.

The following types of income are going to be included on form 1040 for your US expat taxes:

• Wages and salaries
• Taxable interest – Schedule B
• Ordinary dividends
• Refunds , credits, or other offsets and local income taxes
• Alimony received
• Business income (or losses). – Schedule C or C-EZ
• Capital gains (or losses) – Schedule D
• Other gains (or losses) – Form 4797
• IRA distributions
• Pensions and annuities
• Rental real estate, royalties, partnerships, S-corps, and trusts – Schedule E
• Farm Income
• Unemployment compensation
• Social security benefits
• Other income

If your income is earned from any of the forms listed above, then there is a need to give documents to explain the source of earning and to prove that the amount reported under US tax return is genuine.

You are also going to need to gather information about applicable deductions that need to be reported on your US expat taxes. These include:

• Educator expenses
• Certain business expenses – Form 2106
•  Health savings account deductions – Form 8889
• Moving expenses – Form 3903
• Penalty on early withdrawal of savings
• Alimony paid
• IRA deductions
• Student loan interest
• Tuition fees paid
• Other deductions

You should receive many of these documents from their respective distributors throughout the calendar year, but it is important to keep everything organized so that filling out your 1040 is as easy as possible.