USA with their respective Time Zones

There are four Time Zones are there in USA

1. Pacific Timezone (PST Pacific Standard Time)
2. Mountain Timezone (MST Mountain Standard Time)
3. Central Timezone (CST Central Standard Time)
4. Eastern Timezone (EST Eastern Standard Time)

Here you can see List of U.S. states by time zone

US States Abbreviations & Shortforms

State/possession		Abbreviation
ALABAMA		AL
ALASKA		AK
AMERICAN SAMOA		AS
ARIZONA		AZ
ARKANSAS		AR
CALIFORNIA		CA
COLORADO		CO
CONNECTICUT		CT
DELAWARE		DE
DISTRICT OF COLUMBIA		DC
FEDERATED STATES OF MICRONESIA		FM
FLORIDA		FL
GEORGIA		GA
GUAM		GU
HAWAII		HI
IDAHO		ID
ILLINOIS		IL
INDIANA		IN
IOWA		IA
KANSAS		KS
KENTUCKY		KY
LOUISIANA		LA
MAINE		ME
MARSHALL ISLANDS		MH
MARYLAND		MD
MASSACHUSETTS		MA
MICHIGAN		MI
MINNESOTA		MN
MISSISSIPPI		MS
MISSOURI		MO
MONTANA		MT
NEBRASKA		NE
NEVADA		NV
NEW HAMPSHIRE		NH
NEW JERSEY		NJ
NEW MEXICO		NM
NEW YORK		NY
NORTH CAROLINA		NC
NORTH DAKOTA		ND
NORTHERN MARIANA ISLANDS		MP
OHIO		OH
OKLAHOMA		OK
OREGON		OR
PALAU		PW
PENNSYLVANIA		PA
PUERTO RICO		PR
RHODE ISLAND		RI
SOUTH CAROLINA		SC
SOUTH DAKOTA		SD
TENNESSEE		TN
TEXAS		TX
UTAH		UT
VERMONT		VT
VIRGIN ISLANDS		VI
VIRGINIA		VA
WASHINGTON		WA
WEST VIRGINIA		WV
WISCONSIN		WI
WYOMING		WY
Military "State"		Abbreviation
Armed Forces Africa		AE
Armed Forces Americas   (except Canada)		AA
Armed Forces Canada		AE
Armed Forces Europe		AE
Armed Forces Middle East		AE
Armed Forces Pacific		AP

Coming to an Agreement in Negotiation

Once you have come to a final agreement, it is important that you have it down in writing along with both parties' signature: this is not always possible or practical. Before it is signed, or formally ordered, it is wise not to say anything about the terms agreed because your next sentence could break the agreement: the best sales-people never over sell - well, not until they have to!

If it is a sale/purchase that you are making, then officially, it isn't a sale until you/they have actually ordered the product/service. Usually, this will be an Order Form (we have one in our free business software). In most other negotiations, one party sending a letter and fax to the other in which the agreement is outlined (to a sufficient degree) will form a legal basis.

If the other party then amends the conditions in the agreement in writing to you, those amended terms then become part of the agreement, UNLESS you disagree in writing, and so on…


Summary

We use negotiation in everything we do but you have to be sure that it is done in the best way possible to achieve maximum benefit. The most important part is planning: preparing well will give you an advantage when negotiating.

Only use the knowledge and experience you need to achieve your objective: having the business owner negotiating the supply of pencils is over-kill, and leaves you little room to power-bargain with the same supply company when you want them to supply you with, say, colour photo-copiers.

Have confidence and be sure that you can keep control at all times. Aim highly, but don't underestimate the opposition. They too may have just read the same advice. If you're selling something, be persuasive and offer some incentive to keep the customer interested.

Don't close an agreement until you are happy. This could be difficult if you have been put in a 'corner' but this would perhaps be an effect of poor preparation.

Negotiating

It is important that you approach the other party directly to make an appointment to negotiate should it be in person, writing or by phone (not through a phone operator, receptionist, assistant etc) as this will allow you to set the agenda in advance, and improve the prospects of the other party preparing sufficiently enough to make a decision on the day. Try to be fairly open about your reason for contact or they may lose interest instantly and not follow up on the appointment. Save all your comments for the actual appointment- don't give away anything that will give them a chance to prepare too thoroughly: it's not war, but it is business!

So, it's time to negotiate and you've prepared well. What else must you have? Two things: confidence and power. Your power will come from your ability to influence. For example, you may be the buyer (but not always a strong position), or have something that the other party wants, or you may be able to give an intention to penalize if the other party fails to meet the agreement (as is the way with construction). As briefly mentioned above, you may be able to give a reward or an incentive. For example, you may be selling kitchen knives and as part of the package you are giving a knife sharpener and a storage unit away free as an incentive.

It is always important that you keep the negotiation in your control: this can mean within your price range, your delivery time or your profit margin. If you fail to do so, you will end up on the wrong side of the agreement, and with nothing more out of the deal other than maintaining trading relationships.

When negotiating, aim as high as you feel necessary in order to gain the best deal for yourself. The other party may bring this down but it is a good tactic, as it is always easier to play down than to gain.

Make sure that you remain flexible throughout the negotiation in case the opposition decides to change the direction of the agreement (they may want different incentives or even change their objectives). This is where your preparation comes to good use: knowing your limits and the other party's needs. If you're a quick thinker then you've got an advantage. You'll need to turn it around quickly if things start to go against you without putting your objectives at risk.

Confidence comes from knowing your business, your product, what its worth, and being able to communicate this well to the other party: these people are almost impossible to get the better of, as some of you will know only too well.

Planning and How to Negotiate

Pre-Negotiation

Before you decide to negotiate, it is a good idea to prepare. What is it exactly that you want to negotiate? Set out your objectives (e.g. I want more time to pay off the loan). You have to take into account how it will benefit the other party by offering some sort of reward or incentive (explained later).

What is involved (money, sales, time, conditions, discounts, terms, etc)? Know your extremes: how much extra can you afford to give to settle an agreement? Although you are not aiming to give out the maximum, it is worth knowing so that you will not go out of your limits.

Know what your opposition is trying to achieve by their negotiation. This is useful information that could be used to your benefit and may well be used to reach a final agreement.

Consider what is valuable to your business, not the costs. You may end up losing something in the negotiation that is more valuable to your business than money. It could be a reliable client or your company reputation.

Why Negotiate?

If your reason for negotiation is seen as 'beating' the opposition, it is known as 'Distributive negotiation'. This way, you must be prepared to use persuasive tactics and you may not end up with maximum benefit. This is because your agreement is not being directed to a certain compromise and both parties are looking for a different outcome.

Should you feel your negotiation is much more 'friendly' with both parties aiming to reach agreement, it is known as 'Integrative negotiation'. This way usually brings an outcome where you will both benefit highly.

Negotiation, in a business context, can be used for selling, purchasing, staff (e.g. contracts), borrowing (e.g. loans) and transactions, along with anything else that you feel are applicable for your business.

Negotiation Skills

Introduction

Negotiation is something that we do all the time and is not only used for business purposes. For example, we use it in our social lives perhaps for deciding a time to meet, or where to go on a rainy day.

Negotiation is usually considered as a compromise to settle an argument or issue to benefit ourselves as much as possible.

Communication is always the link that will be used to negotiate the issue/argument whether it is face-to-face, on the telephone or in writing. Remember, negotiation is not always between two people: it can involve several members from two parties.

There are many reasons why you may want to negotiate and there are several ways to approach it. The following is a few things that you may want to consider.

Employment Definitions

1099 Employee – A 1099 employee is in most cases a temporary employee (technically, not even an"employee"). Because they are not permanent, they do not need to complete a W-4 or have the employer withhold taxes. They are responsible for paying their taxes directly to the IRS. The IRS requires that the employer report the earnings paid on a form 1099. The IRS would rather put the burden oftax withholding on the employer and therefore has fairly stringent rules regarding when someone can be considered a 1099 employee.

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Corp-to-Corp – Indicates that the employer would prefer todeal directly with another corporation. The main reason for this preference isto avoid some of the potential liability that might exist in dealing with an independentcontractor on a 1099 basis. This would include corporations dealing directlywith other corporations or corporations dealing with individuals who haveincorporated. 

EB-1 – Employment-based immigration category for aliens ofextraordinary ability.

EB-2 – Employment-based immigration category for alienswith advanced degrees or exceptional ability.

EB-3 – Employment-based immigration category for alienswith bachelor's degrees. Most immigrants become residents through thiscategory.

H-1B – Visa for temporary skilled workers (sponsored).

H-4 – Visa for family members of H-1B Visa holder.

Independent – The employer is willing to hire a temporaryemployee on either a 1099 or W-2 Basis.

The IRS classifications of workers are independent contractors oremployees according to the "common law" standard. The common lawstandard holds that if an employer controls and directs, or has the right totell a worker how, when, and where to work, then the worker is an"employee". A worker free from such direction and control can beclassified as an "independent". 

J-1 – Visa for doctors and researcher usually tied to somesort of research grant or exchange program.

J-2 – Visa for the spouse of an J-1 Visa holder.

Job seeker – Candidate looking to better their employmentopportunities. There are three types of Job Seekers:

•    Announced are Job Seekers that are readyto work in 30 days and appear on the Hot-list.

•    Passive Public are those Job Seekers thatare not actively looking for a job but would entertain the right opportunity.Passive Public Job seeker names display on the Hot-list, but they will be on thepassive list.

•  Passive Confidential are those Job Seekersthat do not want anyone to know who they are. Job Seekers can chose to beconfidential and they will show up in the passive list as a confidentialcandidate.

Employment Types

1.   Contract - Corp-to-Corp

Definition: Corp-to-Corp the client, a corporation, pays to the business entity of US Citizen or Green Card Holder, which is organized as a corporation, for the services rendered. In other words any employment where the contact is between two (2) companies is called Corp-to-Corp.

Corp-to-Corp employment contract can happen in 2 cases.

Case – I: Any U.S. Citizen or any Green Card Holder can incorporate a company. Usually, people register a company to avail the tax benefits or save tax. This is a complicated set-up process. The person incorporating the company (Company A) can be the sole worker of the company and can take up employment with another company, a client (Company B). The client(Company B) will make the payment for the services rendered by the consultan tto the corporation that the consultant owns. The consultant can then draw salary from his own company and pay tax. The client in this case is not liable to pay any tax on behalf of the consultant.

Case – II: This can also happen when a client company hires a consultant with H1B VISA. H1 is works permit VISA for all professionals who are neither US citizen nor Green card holder. In this case the consultant has an employer in the US,a registered corporation. This company allows the consultant to work for another company, a client, but the contract is signed between the employer company and the client. The consultant is a full time employee of his own company but a consultant with the client company.

Payment Terms: In this scenario the client company pays to the consultant’s company directly and does not deduct any tax, as payment of tax is the liability of the corporation rendering services.

2.   Contract – Independent (1099)

Definition: This is actually sole proprietorship concern also called Independent. In other words a sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest form of business organization to start and maintain. The business has no existence other than the owner. Its liabilities are the owner’s personal liabilities.

Payment Terms: In this scenario(1099) the client company pays directly to the independent contractor and does not withhold any tax.

3.   Contract – W2

Definition:This is the simplest option of all other options. There is no need of book keepingas is the case other options like Corp-to-Corp and 1099. In this case thewages of the contractor are subject to the same tax withholdings as a regularemployee of the client. In such cases the liability of depositing tax is withthe employing company. The approximate percentage of benefits and taxes isabout 12.5 to 15% percent in some cases.

Conclusion

 A 1099 employee is in most cases a temporary employee (technically, not even an "employee"). Because they are not permanent, they do not need to complete a W-4 or have the employer withhold taxes. They are responsible for paying their taxes directly to the IRS. The IRS requires that the employer report the earnings paid on a form 1099. The IRS would rather put the burden of tax withholding on the employer and therefore has fairly stringent rules regarding when someone can be considered a 1099 employee.

Corp-to-Corp– Indicates that the employer would prefer to deal directly with anothercorporation. The main reason for this preference is to avoid some of thepotential liability that might exist in dealing with an independent contractoron a 1099 basis. This would include corporations dealing directly with othercorporations or corporations dealing with individuals who have incorporated.

A W-2 employee is an employee whose taxesare withheld by the employer and the earnings are reported to the IRS at theyear-end via a W-2. The W-2 employee completes a form W-4 at the beginning oftheir employment to instruct the employer on how to withhold taxes. Thiseliminates any possible issues that may arise with the IRS regarding employmentstatus.

 Important: Keeping in mind the above details we must now understandthe contract fees payable under different work authorizations. Lets assume thatthe client agrees to pay the contractor $ 60per hour. The chart belowexplains the final payment and deductions, if any, as applicable and also showsthe net amount that is finally paid to the contractor under each employmentauthorization type.

Corp-to-Corp			Independent (1099)			W2
Client	Deductions	Contractor	Client	Deductions	Contractor	Client	Deductions	Contactors
$ 60	Nil	$ 60	$ 60	Nil	$ 60	$ 60	12.5 to 15% of $ 60	$ 60 – deduction