Everything you need to know about audit procedures Audits are done to protect the capital markets. They assure and provide confidence to investors and potential investors in an organization’s...
Posted by BHATIA & CO, INC, CPAs on 10/30/2015
Tax planning is a necessary evil in the modern era. Prior to filing tax returns in April 2016, you must know about the important income tax deductions that will assist you in efficient...
Posted by Asharp Bookkeeper on 10/30/2015
Many taxpayers overpay their taxes every year just because they neglect one of the following money-savers. To remind all those people and update their tax deduction knowledge, we have...
Posted by Cheryl Panattoni Forensic Accounting and Tax Inc on 10/30/2015
Cash Flow – Making Projections Cash from line items consists of depreciation schedule, working capital schedule or debt schedule. We must complete depreciation and working capital...
Posted by The Accounting and Tax on 08/06/2015
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
Source of income can have significant impact on calculation of foreign tax credit limitation. Formula for foreign tax credit limitation = Pre-credit U.S tax x foreign...
Posted by The Accounting and Tax on 02/18/2015
The following items are not included in income of taxpayer for a taxation year: Amounts declared to be exempt by legislation of the Parliament of Canada (s. 81(1)(a)) Amounts received...
Posted by The Accounting and Tax on 01/03/2015
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
