A Small-Business Guide to the Fiscal Cliff: 2013 Edition | The Mozy ...

Seems like we?ve been hearing about the fiscal cliff forever. The March 1 deadline comes the latest iteration: potential sequestration. What does this mean for small businesses, and what can owners do to help mitigate the impact of what?s already been done?

Let?s look at a rundown of what?s next on the line, but also some fresh strategies for grappling with what U.S. lawmaking has so far left it in its fiscal wake.

Fiscal Cliff 2013: Sequestration

So, yes, the fiscal cliff ??at least a version of it ??looms anew, with this March representing another crucial turning point. The newest round of wrangling has to do with sequestration ??the ways that the federal government may (indiscriminately) cut into $85 billion worth of spending, programs, and services.

Experts say that if the sequester locks in, small business may very well feel the impact.

Here?s what Stephen Fuller, professor at George Mason University?s School of Public Policy told a House committee about his predictions on the matter, last fall.

?The size and specialized nature of small businesses make them more vulnerable to sequestration than large businesses,? Fuller said. ?As a result, small businesses will? bear a disproportional?impact of?the federal spending reductions under? sequestration.?While these impacts can be measured in the loss of jobs by small businesses that are prime federal contractors?(34.1% of all prime federal contractor job losses), small businesses that?are subcontractors, suppliers?and vendors and? whose?existence depend on consumer spending that would be negatively impacted by?the losses of labor?income resulting from?sequestration, would?account for 57? percent of the associated job losses across the country.?

This is why small-business owners watch for the outcome of the March 1 sequester deadline with weariness.

The Story So Far: What SMBs Can Do (Right Now)

In an effort to show a path through what may be some already difficult territory ? into the next 9?10 months and beyond ? accounting-software experts at Xero put their heads together with Jody Padar, CEO and principle of New Vision CPA Group, and Jason Lawhorn, of Lawhorn CPA Group, Inc.

Together, they?ve broken out helpful tips and notes about the state of affairs for SMBs, right now. Here are some fundamentals, and what owners can do to protect themselves. They?ve categorized their main points as good, bad, and ugly, regarding what?s happened in the fiscal-cliff scenario, so far.

The Good:

? The Alternative Minimum Tax (AMT) relief, and extended Bonus Depreciation and Section 179 deductions. The AMT was created to tax high-wage?earners, corporations, estates and trusts. At its advent,?middle class and solo workers were?exempt?up to earnings of $45,000. But the bill?did not?account for inflation and wages have definitely increased since 1969 when the bill was first introduced.?Had the relief law not been passed, a significant number of middle income taxpayers would have been subject to the Alternative Minimum Tax?which is?substantially higher than the exemption from regular income tax.

? Congress also extended the Bonus Depreciation and Section 179 deductions, which allow SMBs to recover the cost of investing in new infrastructure and property. The deductions will continue to stimulate spending, support SMBs, and encourage economic growth.?At present,?Congress says the approved AMT relief and tax deductions are permanent fixes. Word of caution though, say Padar and Lawhorn, no fix is ever permanent with the tax code.

The Bad:

If your small business is defined as an LLC you will see a 3.8 percent tax on your earned income as part of the Healthcare bill?beginning?this year.?One way to mitigate this is to change your status from an LLC to an S-Corp. Here?s the key to the timeframe: if you change you status before March 15 this will apply for?2013, whereas?if you change after the cut-off date you will?not be eligible until 2014.

The Ugly:

A?misnomer is that the the $450,000 tax increase is on the ?rich? and independently wealthy,?but this is not the case.?S-Corps and LLCs are in the same tax pool as individuals. Additionally, most of the $450,000 earners are small business owners. Your average person is not making this type of salary, suggest Padar and Lawhorn, and the small business?owners that are may be using this as ?flow-through? money ??that is, reinvesting this capital back into their businesses.?However, because of their tax designation (S-Corp, LLC) they still fall into this bracket and their taxes will be increased.

What to Do: 2013 and the Next Steps

The main thing to be aware of is the complexity of the law changes.

For small-business owners,?finances are already complicated. Padar and Lawhorn said that dealing with undecided government regulations can feel like driving in a blizzard. They recommend (of course), that owners secure the services of a qualified accountant. And the idea is to work with that accountant to navigate the new landscape all year long, not just at tax time.

?If you read or see something that does not make sense, contact your accountant,? they said. ?Sticking your head in the sand when it comes to your finances is as good as leaving the cash drawer open while you?re out.?

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Source: http://mozy.com/blog/small-business-tips/a-small-business-guide-to-the-fiscal-cliff-2013-edition/

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Asian shares capped by China PMI slip, US budget worry

TOKYO (Reuters) - Asian shares were capped on Friday, with sentiment dented by lacklustre manufacturing data from China and worries over the economic fallout from Italy's political confusion as well as possible U.S. spending cuts.

European markets are seen narrowly mixed, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX would open between a 0.1 percent rise and a 0.2 percent fall. Italy's main FTSE MIB stock market index is expected to open down 0.2 percent.

A 0.1 percent drop in U.S. stock futures also hinted at a weak Wall Street start.

But losses were limited by renewed confidence that major central banks will keep taking stimulative steps to support their economies.

China's factory growth cooled in February to multi-month lows after domestic demand dipped to weigh on firms already hit by slack foreign sales, two surveys showed on Friday, underlining the country's patchy economic recovery. But it does not signal China's economy is slipping into another slowdown, analysts said.

China's February official purchasing managers' index (PMI) came in at 50.1, slightly below a 50.2 Reuters poll consensus and the 50.4 posted in January. A private survey showed the final HSBC PMI fell to 50.4 after seasonal adjustments from January's two-year high of 52.3, in line with a flash reading.

"While comfort can be sought from the fact that the Chinese economy remains in expansion territory, the dip from prior PMI readings does illustrate that the recovery is far from linear and that there are still a few bumps in the road," said Tim Waterer, senior trader at Sydney-based CMC Markets.

The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent, after ending February up 0.5 percent, showing muted reaction to Chinese data.

Australian shares slipped 0.4 percent, pulling back from 4-1/2-year highs touched in the previous session, as big miners lost ground on lower metal prices. South Korean markets were closed on Friday for a public holiday.

The Australian dollar, which is sensitive to data from China, Australia's largest trading partner, was up 0.2 percent to $1.0230.

Japan's Nikkei stock average erased earlier losses to rise 0.5 percent, lifted by expectations for strong reflationary measures from the Bank of Japan in coming months.

Stocks in Indonesia edged higher to a fresh record. Data showed Indonesia's trade deficit narrowed slightly in January from the previous month as exports posted their smallest fall in nearly a year, reflecting recovering global demand and providing early hope that the nation's external balances may improve in 2013.

From Japan, Friday's data showed Japanese companies cut spending on plant and equipment in October-December by 8.7 percent from the same period last year, down for the first time in five quarters amid a slump in exports, showing the world's third-largest economy was still struggling to find a solid footing.

In contrast, a drop in new U.S. claims for jobless benefits last week and a sharp rise in factory activity in the Midwest in February suggested the U.S. economy is improving.

The relative outperformance of the world's leading economy over Japan's may soon turn the Japan-based yen selling into U.S.-led dollar buying, giving a fresh push higher in the dollar/yen, traders say.

The dollar inched up 0.1 percent to 92.65 against the yen.

One factor that could cloud such a positive outlook is the uncertainty over the possible extent of economic damage from the $85 billion in automatic across-the-board "sequestration" spending cuts in the United States set to begin taking effect on Friday.

"Financial markets are eerily calm about the issue. Nobody is talking about the sequestration, and I worry about the seeming lack of interest when market sentiment is far from stable after sharp swings following the Italian election," said Hiroshi Maeba, head of FX trading Japan at UBS in Tokyo.

He said reaction, if any, will likely come in equities and bonds first and spill over to forex, hitting risk-sensitive currencies which may possibly underpin the dollar.

The International Monetary Fund said on Thursday it would likely cut its 2013 growth forecasts for the United States by at least a 0.5 percentage point if the cuts are fully implemented. The IMF now projects that the U.S. economy will grow 2 percent this year.

"The $85 billion in spending cuts is simply too small to make much of a difference to the economy and although it could cause some problems, it will have no bearing on influencing investor allocations among different asset classes," said Ed Meir, an analyst at INTL FCStone, in a note.

U.S. crude fell 0.1 percent to $91.93 a barrel, after earlier hitting a 2013 low of $91.43. Brent crude fell 0.3 percent to $111.05 after falling to a six-week low of $110.86 earlier. Oil prices were weighed by concerns about the global economy and the strength of demand.

Spot gold inched down 0.1 percent to $1,578.81 an ounce after dropping more than 1 percent on Thursday and ending February with its fifth straight monthly drop, the longest string of monthly declines since 1996.

The euro was up 0.1 percent to $1.3074, but near a seven-week trough of $1.3018 plumbed earlier in the week.

Source: http://news.yahoo.com/asian-shares-capped-china-pmi-slip-us-budget-060356901--finance.html

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Snakes and Mysticism | The Isha Blog

Sadhguru talks about the connection between mysticism and snakes, and the power and energy of this mysterious creature?

Sadhguru:

Mysticism and snakes cannot be separated. Wherever there was an exploration or experience of mysticism ? in the ancient cultures of Mesopotamia, Crete, Egypt, Cambodia, Vietnam, and of course India ? snakes were always there. There is no Indian temple without a snake. One aspect of it is symbolism, because in yoga, a coiled-up snake symbolizes kundalini. But the reason for this symbolic status is because when celestial beings ? those who are in consciousness and capability superior to human nature ? entered this dimension of existence, they always took the form of a snake. This finds mention in every mythology on the planet. In India, there are innumerable stories, starting from Shiva being a Naga Bhooshana.

A sketch of two entwined snakes depicted on a vase offered to a Mesopotamian deity around 4000 years ago

Mysticism is a certain dimension of perception and the snake has come endowed with that capability. That is why the highest form of perception, which is the opening of the third eye in Shiva?s forehead, is punctuated by the presence of the snake. A reptile would usually be crawling on the ground, but Shiva has it over his head to indicate that, ?In some ways, he is even better than me.? Every culture has recognized this in one way or the other. There are a number of stories of snakes and the role they played in our culture.

In mythology, there are Naga Lokas in the netherworld ? a whole society of not just snakes, but human beings who belong to the snake clan. They are known as Nagas, and they played a very important role in shaping the consciousness of this nation and many other cultures. Historically, we know that the great temples of Angkor in Cambodia were built by Naga descendants. They went from India, intermarried with the indigenous people, and established a kingdom. Nagas were ruled by queens, not kings, as they were matriarchal families. Later on, Kaundinya, a Brahmin king from India, went and defeated the Naga queen.

If one becomes very meditative, the first creature which is drawn towards that is a snake

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Human beings who are very deeply associated with snakes exist even today. I am one of them ? not a Naga, but my life and snakes cannot be separated. Every significant event in my life is always punctuated by the presence of a snake.
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An Ear to the Ground

If one becomes very meditative, the first creature which is drawn towards that is a snake. This is the reason why you always see images of sages and seers with snakes around. It has such a sense of perception that it can perceive certain dimensions which human beings are longing and desperate to know.

Its sense of perception with regard to the planet is so very keen and sharp

During the Dhyanalinga consecration, when we were consecrating the Vishuddhi chakra, over 400 people had gathered, but one snake would somehow creep through the crowd and come to us. Any number of times we picked it up and left it out in the forest, but within half-an-hour he would be back again. He did not want to miss the consecration!

The snake is the first creature which will know even the slightest fundamental change that happens on this planet, because his whole body is in touch with the ground. He has no ears; he is stone-deaf, so he uses his whole body as an ear. He truly puts his ear to the ground. If there is going to be an earthquake in California, a snake in the Velliangiri Mountains can tell you this at least 30 to 40 days ahead of time. Its sense of perception with regard to the planet is so very keen and sharp.

Left: The Egyptian goddess Isis is represented as a snake in this approximately 2000-year old relief.
Right: The snake depicted above the threshold of Linga Bhairavi.

All the Goddesses in the world ? the Middle Eastern, North African, Mesopotamian, South Asian, Central European ? are always symbolized together with snakes. At Linga Bhairavi, sarpa seva is available for people every full moon day. Here, the two snakes are in an embrace. They are not in entanglement. An embrace happens out of involvement. Entanglement happens out of compulsive needs. They are in a certain embrace and a certain dance to bring this forth into everyone?s life. Once a month, these snakes are filled with the earth taken from a termite mound mixed with certain other substances. This is a way of making use of the snake to enhance one?s perception.

Sarpa Seva is an offering made to the intertwined Divine Sarpas at Linga Bhairavi, by any two individuals who share a relationship, such as husband and wife, brother and sister, or business partners. This arpana can bring significant transformation in their relationship. It also aids in building a strong constitution and improves fertility.
Sarpa Seva is also available for those seeking to ward off naga dosha, marital obstacles, major hurdles, lack of prosperity or progress, and chronic ill-health.

Source: http://blog.ishafoundation.org/yoga-meditation/demystifying-yoga/snakes-and-mysticism/

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NY to exempt TV, movies under state's new gun law

ALBANY, N.Y. (AP) ? New York sought to combat violence by rushing the nation's toughest gun control measure into law after the Connecticut school shootings that killed 26 people, but the state is now carving out an exemption to make sure movie and TV producers can stage running gun battles on Manhattan streets.

Movie and TV productions have long been courted by New York and other states with tax breaks in exchange for the jobs and glamour of the industry. Hollywood is also a major campaign fundraising stop for New York politicians.

"We spend a lot of money in the state bringing movie production here, post-production here, so obviously we would want to facilitate that," said Gov. Andrew Cuomo, who wants to expand the film and TV tax credit.

He said movies and TV may use fake guns that wouldn't be subject to the new law but the industry wants "certainty." The revised law would allow them to use real weapons without real ammunition.

"There's no reason not to make a change like that to give an industry comfort, especially when it's an industry we want to do business in the state," the governor said.

Film and television producers have spent more than $7 billion in New York since the state began offering tax breaks in 2004, the governor's office says. New York has been the stage for recent films including "Spider-Man 3," ''The Nanny Diaries," ''Sex and the City 2," and "The Sorcerer's Apprentice." Most of Woody Allen's films are made in New York City, and many TV shows including "Louie" turn to the city for their backdrop.

The Hollywood exemption is just one of the revisions planned for the state law that was passed in January before the Obama administration and other states offered their legislative responses to the Dec. 14 rampage in Newtown, Conn. Other changes to the New York law would allow police officers to keep their high-capacity handguns and take a loaded gun on school grounds without permission from school officials.

However, the need for a "cleanup" bill also means the fight over the law may not be over after all.

An estimated 10,000 opponents of the new law are expected to descend on Albany on Thursday to try to persuade lawmakers to take advantage of an unexpected second shot at the law critics claim is unconstitutional.

The law was passed in a flurry of closed-door negotiations, without public hearings or a three-day review required of bills under the state constitution. The measure was debated, passed and signed within hours, just days before President Barack Obama proposed his measures including tougher gun control.

"Had they not rushed this bill through, this bill would never have become law," said Assembly Republican leader Brian Kolb. "This opposition would have been mobilized ... this bill would do nothing to prevent the tragedies."

Most opponents have rallied around a call for repeal of the law, which would be impossible to pass through the Assembly led by New York City Democrats who have long championed gun control measures. But the cleanup bill provides an opportunity for lawmakers to submit more substantive changes.

Others are considering a strategy of blocking the bill from passage, which could bolster the chances of a pending lawsuit that seeks to overturn the law.

The law bans a broader array of military-style weapons, restricts ammunition magazines to seven rounds from 10, creates a more comprehensive database of people barred from owning guns, and makes New York the first state to require background checks to buy bullets.

Therapists, doctors and other mental health professionals will be required to tell state authorities if a patient threatens to use a gun illegally. Mental health advocates are also seeking amendments to the law they say may interfere with treatment of potentially dangerous people and discourage them from seeking help.

Cuomo and Sen. Jeffrey Klein, who co-sponsored the gun control legislation, said he and legislators are only discussing technical changes at this time.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2013-02-27-NY%20Gun%20Control/id-f4c26d6cec4041af9236b5e8a19c10af

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Brain Cells Can Outlive the Body

Brain cells can live at least twice as long as the organisms in which they reside, according to new research.

The study, published today (Feb. 25) in the journal Proceedings of the National Academy of Sciences, found that mouse neurons, or brain cells, implanted into rats can survive with the rats into old age, twice as long as the life span of the original mice.

The findings are good news for life extension enthusiasts.

"We are slowly but continuously prolonging the life of humans," said study co-author Dr. Lorenzo Magrassi, a neurosurgeon at the University of Pavia in Italy.

So if the human life span could be stretched to 160 years, "then you are not going to lose your neurons, because your neurons do not have a fixed lifetime."

Long-lived cells

While most of the cells in the human body are being constantly replaced, humans are born with almost all the neurons they will ever have. [10 Odd Facts About the Brain]

Magrassi and his colleagues wanted to know whether neurons could outlive the organisms in which they live (barring degenerative diseases like Alzheimer's).

To do so, the researchers took neurons from mice and implanted them into the brains of about 60 rat fetuses.

The team then let the rats live their entire lives, euthanizing them when they were moribund and unlikely to survive for more than two days, and then inspected their brains. The life span of the mice was only about 18 months, while the rats typically lived twice as long.

The rats were found to be completely normal (though not any smarter), without any signs of neurological problems at the end of their lives.

And the neurons that had been transplanted from mice were still alive when the rats died. That means it's possible the cells could have survived even longer if they were transplanted into a longer-lived species.

Life extension

The findings suggest that our brain cells won't fail before our bodies do.

"Think what a terrible thing it could be if you survive your own brain," Magrassi told LiveScience.

While the findings were done in rats, not humans, they could also have implications for neuronal transplants that could be used for degenerative diseases like Alzheimer's disease or Parkinson's disease, Magrassi said.

But just because brain cells may be able to live indefinitely doesn't mean humans could live forever.

Aging is dependent on more than the life span of all the individual parts in the body, and scientists still don't understand exactly what causes people to age, Magrassi said.

Follow LiveScience on Twitter @livescience. We're also on Facebook?& Google+.?

Copyright 2013 LiveScience, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Source: http://news.yahoo.com/brain-cells-outlive-body-200523739.html

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Report: Saudis may drop screen for women advisers

RIYADH, Saudi Arabia (AP) ? A Saudi newspaper says officials may consider dropping plans for a barrier separating men and the newly appointed women in the country's top advisory body.

The reports follow the swearing-in ceremony Sunday for the first women in the ultraconservative kingdom's Shura Council. There was no barrier during the event as the 30 women sat on one side of the chamber and the 130 men on the other.

Saudi Arabia's strict Islamic codes sharply restrict mixing between genders.

The pro-government Al-Watan newspaper reported Monday that the original proposal for a barrier in the Shura chamber now could be reconsidered.

In 2011, King Abdullah said women can vote and run as candidates in the next municipal elections in 2015. The kingdom's women are still banned from driving and face many other restrictions.

Source: http://news.yahoo.com/report-saudis-may-drop-screen-women-advisers-130715917.html

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Nokia Lumia 720 Hands On: Cheap Phones Can Have Good Cameras Too

In most ways, the Lumia 720 is exactly what you'd expect. It's a budget phone made like a Lumia. The surprise, though, is that the camera is actually pretty damn good—which is a miracle compared to what you find on most cheap phones. More »

Source: http://feeds.gawker.com/~r/gizmodo/full/~3/fxwtOljgT7I/nokia-lumia-720-hands-on-cheap-phones-can-have-good-cameras-too

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