Tax Planning: Top 6 Strategies In 2023

Taxation imposes on different social groups, including persons with high or low incomes. Only some people can do tax planning and achieve effective financial practices.

You must be wondering how these people can follow their taxes without paying money or tax evasion from financial issues.

We will address several strategies in this article that help you plan and reduce the value of your taxes.

Best tax planning strategies:

The concept of tax planning aims to create many creative economic ideas in tax accounting. Dealing with the tax chain, the possibility of obtaining an exemption from specific tax amounts in the business. Here is a set of the most important strategies:

  • Investing in the buy and retention of bonds:

This strategy is one of the most essential and famous tax planning strategies.

Capital taxes are levied when making a profit, such as selling a property and taking advantage of its price (then the tax must pay).

Thus buying and holding bonds (both from private companies and a government entity) will not make you pay sales taxes.

Besides, investments can always keep to an unlimited period; that is, you are postponing the payment of your selling taxes to the time you like.

While at the same time, the price of bonds can increase and thus make more profits.

Government bonds can sometimes buy from the country where they live for a certain monthly interest. This amount may be tax-free, depending on the country.

Where they live, interest paid in government bonds is less than their counterpart in private companies but safer.

  • Investing in private business:

Private economic and business businesses help create more profit opportunities for greater annual income. Besides, allowing formal applications for tax deductions for many expenses. Such as a discount on workers’ health insurance services and a conclusion for some home expenses.

A deduction for business expenses and expenses, and a discount for office or shop rent.

Remember, to get these discounts; you must own your NO.

If you don’t have capital, you can invest in any successful company to get paid and start your own business. This may help you own many skills, such as financial understanding and problem-solving skills.

  • precise study and planning of house taxes:

Tax planning using this strategy is effective if you have several properties (in different countries or states).

Attention should pay to analysing and studying reports that explain the best tax performance in these countries—taking into account the search for all data and information to reach the ideal tax planning for you.

If you have a property with a low tax ratio, Try to make this property your permanent place.

Thereby managing and saving a lot of taxes. But you should pay attention; there may be other high taxes.

Careful investigation requires house taxes to get the help of a financial accountant or tax adviser to identify all the tax amounts to pay for.

Paying the financial value of the tax can be very useful for financial planning.

Many states and states introduce a law that provides for deducting a certain amount from the total value of the tax when paying early. In this case, do not hesitate to pay your taxes early to reduce the money lost on taxes in the future.

  • Subscribe to Plan (401 K plans):

The 401(k) Plan is one of the most prominent and efficient tax planning strategies for individuals and companies and has the support of many employers.

The employer deducts a small number of employees’ salaries while providing many tax benefits.

The most important is to improve the general tax obligations that the employee will pay each year.

With the K 401 Plan, you can defer the payment of tax amounts due to all the financial profits you earn. These profits are sums of money, investments, or shares.

K 401 contributes to reducing transportation, education, and health insurance expenses.

  • Reliance on Tax Exchange 1031:

When you want to sell a property that you own, and you want to reinvest in another property.

Nothing is more effective for you than the 1031 stock exchange can define or describe as an exchange. Selling in its content one property that you own, and in return, you can defer a tax payment.

Planning by Exchange 1013 is a complex tax planning strategy that contains a lot of puzzling professional laws and rules, so if you’re a novice in selling real estate training courses, such as accounting courses online UK.

You can get advice from selling and tax planning experts to help you avoid making financial mistakes.

Any mistake may make you lose your owner or the ability to get a tax deferral.

  • Establishment of a donor-advised fund:

Many countries make many legal tax deductions when donating to a charitable entity. So you can reduce your tax implications in the future by donating.

Placing in the donor fund all your contributions to get deductions in the taxes you pay.

Thereby achieving tax planning.

But an important thing you don’t know will harm you is that if you don’t create a “donor fund”, the possibility of deferring a tax will be for one year. Whereas if you have that fund, the case of waiting could be for years and even decades.

In conclusion, the importance of tax planning lies in its positive role for companies and individuals. It must ensure that the strategies and methods of tax planning are many, and the above has been the best and most distinctive.

Purchasing government bonds is the simplest, safest, and least profitable.

How To Make A Memorable Wedding Speach

How to Make a Memorable Wedding Speach

by

Mike Pagan

Wedding speeches when done well can be the highlight of the party, but they are very often dreaded by those who have to give them. The main reason for this is that we are just not used to public speaking.

Having recently been Best Man at my best friends wedding, I saw close up the stresses and strains all the speakers were going through before delivering their speeches. With that in mind I thought I would share my top tips to help you deliver a relaxed, enjoyable and memorable wedding speech! There are many more – this is just an appetiser.Everyone is behind you

[youtube]http://www.youtube.com/watch?v=ehFDeHHHIME[/youtube]

Its true. This is a wedding and everyone is on your side, no one wants you to do badly. They want to be entertained, and it wont take too much to do so. Visualize the end of the speech, you have nailed it, there is thunderous applause and the audience are smiling.Its not a speech

This is not The Kings Speech, you are simply having a conversation at a largish dinner party and all you are doing is sharing a few stories to wish some friends well and thanking people on the top table.Control your emotions by breathing

Take time to pause, take a breath and carry on. Many people believe they need to be speaking constantly. Pause, have a quick drink and allow the audience to catch up, this will also give you time to gather your thoughts and recover should you need to. Practise to your video camera (in private)

You might hate this idea but believe me, it works. Record yourself delivering your speech 3 times on camera and then watch it back. Initially you will query your voice or how you look. Once you have stopped criticising yourself for being who you are you will notice which stories and anecdotes knit well together and which ones sounded not quite right. Smile, smile and smile again

Make eye contact with the wedding party while you are speaking; look around to the other guests and talk with a smile. You may not be entirely comfortable delivering your speech but if you smile the audience will love you all the more and give you that standing ovation at the end.

Do you want some help with your wedding speech? Contact me on enquiries@mikepagan.com to investigate some personal coaching or a group session for your wedding party.

\”My passion is productivity, one of my greatest frustrations in life is seeing talent and opportunities go to waste because of faffing about.\”

Mike Pagan Motivational SpeakerStop Faffing About

Article Source:

ArticleRich.com

The Complex Nature Of Exchange Rates In Forex Trading

An exchange rate is simply a score for one currency against another and represents the number of units of one currency that need to be exchanged for a single unit of another currency. The exchange rate is thus the price of one currency against another and, given the number of world currencies today, within the US alone there are literally dozens of exchange rates. Now that seems simple enough but, unfortunately, it is not quite that easy.Quite apart from these simple exchange rates, which are sometimes referred to as ‘spot’ rates, there are also a whole range of ‘trade weighted’ or ‘effective’ rates which show the movement of one currency against an average of several other currencies. There are also exchange rates which are used in markets such as the forwards markets in which delivery dates are set at some point in the future, rather than at the time of the initial transaction. In other words, there is no such thing as an exchange rate, but are in fact a series of different exchange rates depending upon the nature of the transaction.The foreign exchange market is driven largely by supply and demand and the exchange rate between any two currencies at any moment in time is influenced substantially by the interaction of the various players in the market. In a few cases currencies are still fixed, or the exchange rate is set by the monetary authorities, and when this is the case the country’s central bank will normally intervene if required and either buy or sell the currency to keep its exchange rate within a narrow and defined band. In the vast majority of cases however, and certainly in the case of the US, currencies are allowed to float and central banks do not normally, and certainly not routinely, intervene to support their currency. Accordingly, the exchange rate for a particular currency against other currencies is determined by players, large and small, who are buying and selling the currency at any particular moment in time.The mix of participants in the market is important and will affect different currencies to varying degrees. Some buyers and sellers deal in the market purely in support of international trade and are operating in the ‘goods’ market buying and selling currency to pay for merchandise being traded across national borders. Other dealers are buying and selling currencies in support of ‘portfolio investment’ and are trading in bonds, stocks and other financial instruments across national borders. Yet another group of currency traders are operating in the ‘money’ market and are trading short term debt across international borders.As if this were not complicated enough, this mix of traders whether they are paying for imports, investing, speculating, hedging, arbitraging or simply seeking to influence exchange rates are also focusing their attention of a variety of different timeframes in their trading which will range from a matter of minutes to several years.Against this background it is no wonder than predicting exchange rates is a complex business. Doing so however is vitally important since exchange rates influence the behavior of all of the participants in the market and, in today’s open market, also influence interest rates, consumer prices, economic growth, investment decision and so much else. It is for this reason that the forex market plays such a critical role in determining exchange rates.

Getting Best Car Deals

Getting Best Car Deals

by

Mycarhelpline

Have a limited budget, confused between new car or used car – but need to buy one urgently. Relax !! One can get certified second hand cars at a much affordable price in India. With the quality checks and near to new car condition – the second hand market is growing at a rapid pace with hundreds of used cars available at affordable prices. Due to increasing market, many people are rather choosing to buy used cars instead of new cars.

One should be aware that buying a new car and buying without discounts especially when the automobile sales are on decreasing trend. The showrooms are under huge pressure due to :-

[youtube]http://www.youtube.com/watch?v=Wfr8KghBIIA[/youtube]

– Increasing number of models getting launched

– second hand market growing at a rapid pace

– new car sales are skewed in favor of diesel cars

So, Intelligent people wait for the autumnal season when loads of festive offers pop up in every segment. Even showrooms look to clear out their new and used car stock and give mouth-watering festive offers to make you jump with joy. Yet, it would be unwise to buy cars just on their prices without personally checking out the cars.

It is best to strike a rapport with local mechanics who have a good idea on cars for sale nearby. They will also suggest you what to seek for in used cars, and how much value erosion is done in that car. When you go through the new car prices and deals, you will also get an idea as to how many cars are available in a particular segment. Ideally one should avoid fashionable cars with less recognition value as the maintenance cost will be on a higher side. It is always best to go for popular generic cars which are less driven and maintained especially if looking as a good transaction.

While searching for second hand cars, one can search for cars less than 2 year old or less driven at under 15,000 kms. Also, one should get the inspection done of used cars thoroughly, it may also be possible that car may be accidental and owner want to get rid of it. Always look for a deal which is a distress sales, wherein owner is selling due to going abroad – however paper work and documentation needs to be also thoroughly checked before entering in a transaction. Their dispensation is similar to the great festive offers available during Diwali.

Author is Gagan Modi, who assist to provide

car deals

along with information on

car launches in diwali

.

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Getting Best Car Deals

Similarities Between Options And Futures Trading

By Jason Ng

After spending much time explaining the differences between options trading and futures trading to beginners to derivatives trading, I think its time to touch on the similarities between options trading and futures trading. Is options trading and futures trading really that different? What are some of the similarities? Well, there are actually four main areas in which options and futures are similar.

First of all, options and futures are both derivative instruments. This means that they are both merely contracts that allows you to trade their underlying asset at certain specific prices, hence deriving their value from price movements of their underlying asset. Both options and futures are merely contracts that bind the exchange of the underlying asset at a specific price. Without an underlying asset, options and futures would not have any value for their existence at all, which is why they are known as ‘Derivative Instruments’. Options and futures both exist for the purpose of facilitating the trading of their underlying asset.

Secondly, both options and futures are leverage instruments. This means that both options trading and futures trading give you the ability to control the price movement on more of their underlying assets than your cash would usually allow. For instance, a futures contract with an initial margin requirement of 10% would allow you to control ten times the amount of its underlying asset than your cash would normally allow you to. A call option asking for $1.00 on a stock that is trading at $20 has a twenty times leverage as it allows you to control a stock worth $20 with only $1. Leverage also means that you could make more profit with options and futures on the same move on their underlying asset than you would if you bought the underlying asset with the same amount of cash. Of course, leverage cuts both ways. You could also potentially lose more than you would in options and futures trading than you would if you had simply bought the underlying asset.

[youtube]http://www.youtube.com/watch?v=wFubONa5a6I[/youtube]

Thirdly, both options and futures can be used for hedging. Hedging is one of the most important usages of derivatives. Both futures and options can be used to partially or totally hedge the directional price risk of an asset even though options are more versatile and precise as it allows for what is known as delta neutral hedging which allows a completely hedged position to still profit should the underlying asset stage a strong breakout in either direction. The hedging power of options and futures is also extremely important in reducing the downwards pressure faced by the overall market during market crisis because big funds and institutions can hedge the downside risk of their holdings using options and/or futures instead of selling their shares in order to maintain their account value. By reducing the amount of selling these big funds does, downside pressure in the overall market is partially relieved. Of course, this alone does not stop bear markets from forming when the general retail crowd (aka the ‘Herd’) starts to rush out of the market.

Fourthly, both options and futures can be used to profit in ways other than the price movement of the underlying stock itself. Futures spreads can be used to speculate in seasonal price differences between the price of futures contracts of different expiration months and options spreads can be structured to profit from time decay no matter which way the underlying asset goes. Yes, it is these options strategies and futures strategies that make derivatives trading so interesting and so rewarding for people with the knack for mathematical calculations and strategies.

So, even though options and futures are very different derivative instruments and have very different rules and trading characteristics, they are still very much the same in the above areas and you can be a more comprehensive and savvy trader or investor by understanding how to use both options and futures to your advantage.

About the Author: Jason Ng is the Founder and Chief Option Strategist of Masters ‘O’ Equity Asset Management and author of Optiontradingpedia.com and Futurestradingpedia.com. Learn more about

Options Trading

and

Futures Trading

.

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Retirement Jobs Revitalizes Senior Citizens

Submitted by: Christopher Granger

Why is it that most seniors return to work after their retirement, and take on retirement jobs when they should be easing up and enjoying their social benefits? The reasons are myriad, and among these (not necessarily in order of preference) are money, boredom, feelings of uncertainty, the need to help children, the need to regain sense of self, and last but not the least, to gain happiness and peace in their lives.

Money is the common denominator of all people who work, and seniors also need additional money to supplement their retirement pay, more so if the senior has children who need special attention and support, like children with some disorders and are handicapped, or children who seem to be always out of money and then ran to the parents for some temporary support. Retirement jobs are also needed to act as buffer to the uncertainty of the future like unexpected illness or accident which may require financial outlays often not included in one’s contingencies. People who have worked for almost their lifetime cannot be without work, for work to them has become their daily habits, and as the saying goes, habits are hard to break. Work is like therapy to them, and idleness gives rise to boredom. Social interaction and friendships in the workplace are also greatly missed upon retirement, and some seniors experience the compelling reason to work again, as this will give them happiness and peace in their daily existence.

[youtube]http://www.youtube.com/watch?v=ykjIE7MQkxs[/youtube]

The advent of high technology principally the internet has changed the way seniors are being treated in the world’s labor market. The previous disadvantages and concepts of seniors delivering slow and less than efficient work due to the senility of old age no longer holds water. Seniors today, majority of who are form the baby boom generation, are of a different breed. They are more alert, active and revitalized than their counterparts of the previous generation, giving rise to the dictum 60 is the new 40. This may be because of advancements in all fields of life, including medicine, that illnesses normally associated with the aging process are more being efficiently addressed, and that generally, due to our fast changing world, time goes by faster than the ageing process of man. People age as they add on years but not so much in appearance and thought perceptions. The thoughts, emotions, behavior of a 60 year old are not much different when he was just 40.

Seniors can take on plenty of retirement jobs depending on their own specialization and preferences. There are plenty of employment and manpower services whose jobs are to find employees for the business enterprises where they have tie-ups. The business companies are spared from the hustle and effort of screening and checking the personal background of the workers, as these are done by the employment agencies, and in most instances, also the needed training and orientation for present job requirements. Available retirement jobs can reign from the simplest to the more complex, and the seniors are limited only by their own fields of specialization. Check out manpower sites for further reference.

About the Author: Are you looking for more information regarding

retirement jobs

? Visit

workingpeopleover50.com

today!

Source:

isnare.com

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Best Forex Secret Trading Tips

Today, when the whole world is trying to recover from the ill effects of recession, common man is the worst sufferer. At this adverse situation, even the hope to earn a good amount of money through excellent paying job is like a day dream. So what is the alternative to earn in this harder time?

There are many answers to the above question but the best one is undoubtedly earning through forex secret trading. It refers to the secrets to do well in the Foreign Exchange Stock Market trading (FOREX).In simpler words, it means knowledge about the transactions related to buying and selling of currencies that can yield great returns in the form of profits.

[youtube]http://www.youtube.com/watch?v=GUpMOCSXqqw[/youtube]

Though it looks quite similar, but still there are some points to be kept in mind to make money through this type of business. To begin with, it is important to have complete and updated knowledge of the market. In addition, the person must also have the good knowledge of forex trading.

For gaining knowledge of forex trading, the person can take the help of various e-books available over the Internet as well as buying the books through the nearby book store. With other things, it is also important to have the knowledge of some good forex software that can do wonders for the person. However, it is again essential to go only through the genuine software as otherwise it can result to unwanted loss and troubles after wards.

For making good money out of forex secret trading, it is also important to keep an eye on the market situation, changing trends, interest and above all capital management.

With this crucial information, the chances are more that a person can earn a good amount of money through this type of trading in spite of adverse economy conditions.

Deeper Understanding Of The Genetic Information Nondiscrimination Act (Gina)}

Deeper Understanding of The Genetic Information Nondiscrimination Act (GINA)

by

kate smith

The Genetic Information Nondiscrimination Act (GINA) is an important, recent legislation passed by the American Congress. Having come into effect from mid-2008; GINA is closely tied to, and is, in fact enforced by the Equal Employment Opportunity Commission (EEOC). GINA applies to organizations that employ 15 or more employees and labor organizations, employment agencies, and training programs, but exempts disability, long-term care, and life insurance providers.

As the title of this Act suggests, GINA prohibits using genetics as a basis for making decisions relating to employment. At its core, GINA seeks to protect individuals from discrimination based on genetic information. Genetic information can be any of these:

oMedical information about a person

oMedical history of the persons family

oRequiring or requesting an employee or her family members to take a genetic test

oResults of tests relating to the persons genetics, which includes the tests carried out on the persons family members, as well as tests carried out in the fetus or embryo of the individual or any of her family members

oTaking part in genetic services, counseling, or research

oMaking changes into premium plans based on genetic information.

Covers more areas of employment-related issues

[youtube]http://www.youtube.com/watch?v=hZpLvlbSFtw[/youtube]

The original intent of GINA was to ban discrimination in the insurance coverage area using genetics as a parameter. It gradually got extended to the health areas of employment, to those concerning collecting medical information about employees for wellness and other health related issues. Today, some of the genetic aspects of an employee that GINA prohibits include:

oCompensation and related aspects of employment

oReferrals

oTraining

oMembership with any part of the organization

oPerks and other privileges or opportunities related to employment

oTermination.

GINA is thus a serious piece of legislation that needs to be complied with fully. It has its own exceptions, and many other aspects of this legislation are to be followed strictly. Employers who are required to implement the provisions set out in GINA need to have a clear and unambiguous understanding of how to apply the provisions as they relate to them.

Full learning on all aspects of GINA implementation

This learning will be imparted at a webinar that TrainHR, a leading provider of professional trainings for the human resources industry, will be organizing.

The speaker at this webinar is Michael D. Haberman, who is a consultant, speaker, writer and teacher. He is co-founder of Omega HR Solutions, Inc. a consulting and services company that offers complete human resources solutions. To learn more about how to apply GINA at work, please register for this webinar by visiting http://www.trainhr.com/control/w_product/~product_id=701806LIVE?earticlesonline-seo

Viewing this webinar, its entirety qualifies for a recertification credit hour that may be counted toward SHRM-CP and SHRM-SCP recertification from SHRM.

Credit is awarded based on the actual educational time spent in the program.

This activity has been approved for 1 HR (General) recertification credit hours toward aPHR, PHR, PHRca, SPHR, GPHR, PHRi and SPHRi recertification through HR Certification Institute (HRCI).

GINA as it applies in day-to-day work

Michael will unravel the intricacies of this legislation. He will explain how to apply the provisions of GINA in an organizations day-to-day work. Given that even noting an employees walking habits for some disease is proscribed by GINA; this places an additional burden on employers, who have to be careful when it comes to interacting with employees, physicians and insurance providers. Michael will explain all these aspects of GINA at this webinar.

HR professionals, office managers and owners of small businesses that come under the provisions of GINA will benefit immensely from this course, at which Michael will cover the following areas:

oWhat Entities are covered?

oWhat Employees are covered?

oThe Definition of genetic information

oHow you can be exposed to genetic information

oThe Prohibitions of using genetic information

oPaperwork and notification requirements

oEnforcement.

TrainHR is a comprehensive Human Resources training solutions provider. In offering trainings that are valuable, yet cost effective, TrainHR is the ideal medium for Human Resources professionals.

Article Source:

eArticlesOnline.com
}

What Is Responsive Web Design &Amp; Why To Go For It?

What is responsive web design & why to go for it?

by

Samuel White

In recent years, the number of internet users using their smart phone devices to surf the internet has raised exponentially. Moreover, evolution in various devices like smart phones, tablets, laptops, desktops etc. has made it difficult for website designers to design a website which runs smoothly on all the devices.

In such a scenario, it has become quite challenging for website designers to design and manage websites for various devices. Recent evolution in the website design industry namely Responsive website design can help you get rid of designing different website for different devices.

So, what is Responsive web design ?

Well, responsive website design is nothing but an approach adopted by designers to design a website in such way that offers an optimal viewing experience to end users. Optimal viewing experience means the design will offer ease of reading and navigation within the site with minimal scrolling and resizing in a wide range of devices starting from laptop, desktop, mobile phones, tablets etc.

[youtube]http://www.youtube.com/watch?v=t5bnG4mth7o[/youtube]

It basically uses CSS to provide an optimal viewing experience to end users. This approach offers immense benefits to designers as well as end users. I have listed out a few of them which makes designers as well as business owners go for it.

Designers need to design only a single website which can be accessed by various devices starting from desktop to tablets.

From the website owner s point of view, it will help you save on costs which you spend while creating different versions of your website.This will reduce overall development cost and you can utilize this money for the growth of your business.

There is no requirement to spend a lot of time managing the contents within the site, so it will save your time too. With this kind of design approach now you need to use only one CMS for all the devices, anything you change or add as content within the site will be displayed appropriately in all the devices.

Enrich user experience! With optimal viewing experience, it will enhance user experience of your site and at the end helps to improve the conversion rate of your site.

Drastically enhance the performance of your site SEO as your traffic won t divide. In the end it will boost up your website rank in search engine optimization.

Helps you get rid of developing different applications for different mobile operating system.

There is no need to establish a link building strategy for different site.

Hence we have seen how the responsive web design benefits designers as well as business owners which definitely should be a good reason to go for it.

In current times, the trend is of responsive website design and development. These days, a major designer and developer prefer developing responsive web design and it is widely seen in most of web applications. Various responsive web design services are offered by Spinx A renowned

Web Design Company

.

Article Source:

ArticleRich.com

The Story Of The First Internet Worm

Submitted by: Marc Menninger

Robert Tappan Morris was the first person convicted by a jury under the Computer Fraud and Abuse Act of 1986. The story of the worm he created and what happened to him after it was released is a tale of mistakes, infamy, and ultimately the financial and professional success of its author.

Morris was a 23-year-old graduate student at Cornell University in 1988 when he wrote the first Internet worm in 99 lines of C code. According to him, his worm was an experiment to gain access to as many machines as possible. Morris designed the worm to detect the existence of other copies of itself on infected machines and not reinfect those machines. Although he didn’t appear to create the worm to be malicious by destroying files or damaging systems, according to comments in his source code he did design it to “break-in” to systems and “steal” passwords. Morris’ worm worked by exploiting holes in the debug mode of the Unix

sendmail

program and in the finger daemon

fingerd

.

[youtube]http://www.youtube.com/watch?v=DpZsc0nIQG8[/youtube]

On November 2, 1988, Morris released his worm from MIT to disguise the fact that the author was a Cornell student. Unfortunately for Morris, his worm had a bug and the part that was supposed to not reinfect machines that already harbored the worm didn t work. So systems quickly became infested with dozens of copies of the worm, each trying to break into accounts and replicate more worms. With no free processor cycles, infected systems soon crashed or became completely unresponsive. Rebooting infected systems didn t help. Killing the worm processes by hand was futile because they just kept multiplying. The only solution was to disconnect the systems from the Internet and try to figure out how the worm worked.

Programmers at the University of Berkeley, MIT, and Purdue were actively disassembling copies of the worm. Meanwhile, once he realized the worm was out of control, Morris enlisted the help of a friend at Harvard to stop the contagion. Within a day, the Berkeley and Purdue teams had developed and distributed procedures to slow down the spread of the worm. Also, Morris and his friend sent an anonymous message from Harvard describing how to kill the worm and patch vulnerable systems. Of course, few were able to get the information from either the universities or Morris because they were disconnected from the Internet.

Eventually the word got out and the systems came back online. Within a few days things were mostly back to normal. It is estimated that the Morris worm infected more than 6,000 computers, which in 1988 represented one-tenth of the Internet. Although none of the infected systems were actually damaged and no data was lost, the costs in system downtime and man-hours were estimated at $15 million. Victims of the worm included computers at NASA, some military facilities, several major universities, and medical research facilities.

Writing a buggy worm and releasing it was Morris’ second mistake. His first mistake was talking about his worm for months before he released it. The police found him without much effort, especially after he was named in the New York Times as the author.

The fact that his worm had gained unauthorized access to computers of “federal interest” sealed his fate, and in 1990 he was convicted of violating the Computer Fraud and Abuse Act (Title 18). He was sentenced to three years probation, 400 hours of community service, a fine of $10,500, and the costs of his supervision. Ironically, Morris’ father, Robert Morris Sr., was a computer security expert with the National Security Agency at the time.

As a direct result of the Morris worm, the CERT Coordination Center (CERT/CC) was established by the Defense Advanced Research Projects Agency (DARPA) in November 1988 to “prevent and respond to such incidents in the future”. The CERT/CC is now a major reporting center for Internet security problems.

After the incident, Morris was suspended from Cornell for acting irresponsibly according to a university board of inquiry. Later, Morris would obtain his Ph.D. from Harvard University for his work on modeling and controlling networks with large numbers of competing connections.

In 1995, Morris co-founded a startup called Viaweb with fellow Harvard Ph.D. Paul Graham. Viaweb was a web-based program that allowed users to build stores online. Interestingly, they wrote their code primarily in Lisp, an artificial intelligence language most commonly used at universities. Viaweb was a success, and in 1998, ten years after Morris released his infamous worm, Viaweb was bought by Yahoo! for $49 million. You can still see the application Morris and Graham developed in action as Yahoo! Shopping.

Robert Morris is currently an assistant professor at MIT (apparently they forgave him for launching his worm from their network) and a member of their Laboratory of Computer Science in the Parallel and Distributed Operating Systems group. He teaches a course on Operating System Engineering and has published numerous papers on advanced concepts in computer networking.

About the Author: Marc R. Menninger is the founder and site administrator for the OpenCSOProject, a knowledge base for security professionals. To download security policies, articles and presentations, click here:

forum.opencsoproject.org

.

Source:

isnare.com

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