The Small Business Tax Help Blog

Archive for May, 2009

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The findings of Global Management Pay Report, published by Hay Group, was released recently and it was revealed that the manager in Singapore command the third highest disposable income in Asia besides the relatively high cost of living. The higher disposable income enjoyed by manager is attributable to the low tax rates and inflation. Also the pay gap between the managers and the clerical staff has widened. The findings underscore the fact that the demand for managerial talent in the island state far outweighs the supply thus driving the salaries of managers higher in spite of the recession.

On a global level, Singapore’s level of managerial disposable income only comes in at 27th position on the Management Spending Power Index. But most of the recession impacted economies such as US, UK, Western Europe etc rank much lower in the index due to higher tax rates and cost of living.

However the gap in income between the managers and clerical staff has increased only slightly, that is to five times from 4.9 times last year. The Singapore government had instituted proactive measures to control the gulf between the pay scales.

The Global Management Pay Report was calculated using PayNet data on median total cash, and taking into account cost of living and taxes to reveal disposable income levels for 56 countries in North America, South America, Africa, Europe and Asia Pacific. The report provides a snapshot of two key indicators of the global talent market: managerial spending power and the pay gap between management and clerical workers. As for the Asian region Hong Kong and Thailand hold the first two positions respectively in the index.

Shortage of talent, especially at the middle to top management levels creates a need for the island state to also import foreign talent. While the government leaves no stones unturned to hone the skills of the local human resources it also competes with the other developed and developing economies to attract the cream of talent. World over there is a scramble for the top talent and even China, which has the largest population is keen on attracting foreign talent, recently the chief of state has also substantiated this strategy by highlighting the fact that it is a necessity to compete with the best and to have the best to sustain and grow the economy.

Singapore actively vies in the global scuttle for talent by providing the best living condition, a harmonious cosmopolitan society, talent friendly immigration policy, a pro business environment, uncomplicated tax regime, stable governance, sound economic policies and a respectable international image. There are several types of work passes such as Employment pass, personalized employment pass and Entrepass under which deserving talents can work and live in Singapore.

Tags: singapore company formation , singapore managerial income, singapore company, Managerial Talents, singapore employment needs, global management pay

GOP budget plan would raise taxes for homeowners

By Howard Fischer Capitol Media Services No descr MESA — House Republicans want a package of tax cuts for business they say will stimulate job growth, including one that would increase property taxes of homeowners. The plan unveiled Tuesday would: • Slash the corporate income tax rate paid by the state’s largest companies from its current level of slightly less than 7 percent to just 4.5 percent …

State Senator John Millner discusses the FY 2010 Illinois budget and income tax increase

Question: How much does an EIN cost if I apply through the IRS?

I believe it’s free but I want to be sure. And is it risky? I do plan on starting a business and the sba.gov thing told me to get an EIN number first. But what happens if I fail?

I plan on applying over the phone.
I forgot to mention I don’t have the business yet I’m just starting everything now..

Answer: Yes, it is free. An EIN is basically for the purpose of recording your Business Taxes. Just like an individual has a social security number, a business has an EIN.
If you never end up starting the business, then no worrries. It would just be like a person who did not work for that year, they do not pay taxes either.
You do need the EIN when you apply for a business bank account as well, that is probably why the SBA told you to get that first. You should pay for everything you need for your business through your business account. Keeping good records is very important.
Hope that helps in clearing things up for you.

Annual entrepreneur fair has seminars, networking

It's that time of year again: The 5 t h annual Entrepreneur Fair hosted by the Disney Entrepreneur Center is set for Aug. 26.

Hoccer: Your ad-hoc data sharing application

Question: How can I find my employer’s EIN number without paying for a massive search?

I have asked my employer and they have insisted they don’t know it. Their headquarters are in California and I’m in Texas.

Answer: Try going to the irs.gov website and search EIN. I think you can get it from the irs as long as you have the company name and address.

Cupertino Courier Calendar

Special EventsMcClellan Ranch Park Open House: The Nature Museum at McClellan Ranch Park will be open for informal visits with the resident animals.

The O.C. California - S4 E07 - Seth hasst sein Leben

A bigger bill for big business

In 1931, cutting the minimum tax on corporations to $10 was such a simple proposition that the Oregon Legislature approved it unanimously. Flash forward nearly 80 years and the $10 minimum tax is once again on Oregon’s political agenda. But this time, the plan is to raise it. And that’s …

Small Business Advice – Interest, Health Insurance & Software

Question: PASSPORT Question Can you get your 1st pssport by going to the offic ein london or do you have to send it?

Do you have to send it by post as its your 1st one or can you fast track in in one day at the office? Have looked on the website will ring them 2morro if have no answers but would be good if i can find out now

Thanks x

Answer: Where are you from?

I am English and it took me 6 weeks to get a UK passport and another 6 weeks to renew it. There is no fast track.

If you are from England or another EU country, 6 weeks. If you are not, longer.

There is nothing to be gained from going in to the office. D/l a form from the internet, get your photos and certifications done and mail it to the office with the fee.

His dark materials

There's an early David Lynch film called The Amputee (1974). Two films, in fact: he made it twice, with the same script, same shots, same everything.

How To Look Great in Photographs