Gross income comes from following categories of income: Interest, Dividends, Personal Services, Rentals, Royalties, Gains from disposition of property. Leasing generates rental income....
Posted by The Accounting and Tax on 03/05/2015
Saving tax dollars is an art. Filing taxes in time can save you from penalties. Making timely tax installments can also save you from penalties. In Canada, personal tax return is...
Posted by The Accounting and Tax on 02/26/2015
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
Income of a Taxpayer Salary, wages, remunerations, for services and gratuities received by a taxpayer are all considered as income of a taxpayer. These types of incomes are taxable...
Posted by The Accounting and Tax on 02/09/2015
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
Welcome 2015! As the new year rolls around, it's always a sure bet that there will be changes to current tax law and 2015 is no different. Below you'll find a summary of tax changes,...
Posted by J.D. Raleigh & Associates LLC on 01/21/2015
Did you ever go to your tax preparers office to have your income tax return completed, only to find that you left an important form at your home or office? Does your income tax preparer...
Posted by PERFORMING FINANCIAL SERVICES, INC. on 01/16/2015
On Tuesday January 13, the IRS Commissioner sent an email to his employees discussing the IRS budget for 2015. It stated in the email that, the IRS will "have no choice but to do less...
Posted by PERFORMING FINANCIAL SERVICES, INC. on 01/16/2015
In the previous article, we touched base on the various types of allowances and deductions allowed to people serving in the Armed Forces. Notably, exclusion of income of members...
Posted by AllRight Consulting & Tax, LLC on 01/12/2015
