Whether you are self-employed already or thinking about going down the independent route, an important consideration of this status is how to lower your taxes. Granted, this is an...
Posted by BHATIA & CO, INC, CPAs on 11/19/2015
Businesses are required by the federal law to pay taxes on time and accurately. To begin with; tax refers to the levy paid by a taxpayer and it is imposed by the government. All businesses...
All businesses are required to report sales and income over a taxation year. Profits = Sales – Expenses Net Income = Profits – Taxes Categories included in an income...
Posted by The Accounting and Tax on 05/07/2015
U.S Internal Revenue code does not give any special status to RRSP, TFSA, RESP, RPP or DSPS plans. If an employer contributes to a registered pension plan or a deferred profit-sharing...
Posted by The Accounting and Tax on 01/10/2015
The following items are included in income of taxpayer for a taxation year: Alimony or maintenance payments (s. 56(1)(b) and s. 56(1)(e)) Allowances for personal, living, or any...
Posted by The Accounting and Tax on 12/27/2014
If a domestic corporation has a foreign subsidiary, this subsidiary will usually maintain its books and records in the currency of the country where it exists. If this subsidiary repatriates...
Posted by The Accounting and Tax on 12/02/2014
