Financial planning should not be difficult. It is basically a plan to save for your retirement, education of your children or buying a house. You should clarify your goals and set...
Posted by The Accounting and Tax on 01/24/2015
Code Section 7701 (b)(2)(A)(iii) U.S residency start date depends on two things: ü Residency is established under the green card test. ü Residency is established...
Posted by The Accounting and Tax on 01/23/2015
Resident aliens in the United States are taxed on their world wide income. Nonresident aliens are taxed on their U.S source income. Code Section 7701(b)(1)(A) An alien will be considered...
Posted by The Accounting and Tax on 01/05/2015
U.S Tax law requires substantial amount of financial information. If you or your family members control directly or indirectly any non-US corporation and you have holdings in it, you...
Posted by The Accounting and Tax on 12/30/2014
Basking Ridge, NJ - As 2014 comes to a close, it’s time to start thinking about how to make 2015 a success for you and your loved ones. Though there’s little consensus...
Posted by WFP Tax Partners, LLC on 12/24/2014
Multinational Companies do lot of intercompany transactions. U.S manufacturers market their products in foreign countries through their subsidiaries. Domestic parent companies sometimes...
Posted by The Accounting and Tax on 12/16/2014
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
Deemed Paid Foreign Tax Credit U.S.A If a domestic Corporation receives dividends from foreign Corporation it usually cannot claim a deduction for dividends received. These dividends...
Posted by The Accounting and Tax on 12/01/2014
Refer Code section 904: Limitation on Credit: Source of income rules play a very vital role when it comes to computation of foreign tax credits limitation of a taxpayer. If foreign...
Posted by The Accounting and Tax on 11/16/2014
