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
A corporation is liable to pay tax if: - It is a resident corporation of Canada - ...
Posted by The Accounting and Tax on 12/26/2014
The United States taxes its citizens on their world income even if they are not present in the United states. Canada taxes its residents on their would income. U.S Citizens...
Posted by The Accounting and Tax on 12/24/2014
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
If a taxpayer has personal relations with one country (Home) and derives income from another country (Host) it can cause a double taxation issue. The host country will most likely...
Posted by The Accounting and Tax on 12/22/2014
Affordable Care Act—New for 2014 Shared Responsibility Payment Starting in 2014, every individual and each member of his family must have qualifying...
Posted by PERFORMING FINANCIAL SERVICES, INC. on 12/19/2014
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
The year 2014 is soon coming to an end. That means tax time is around the corner. End of the year tax tips are always greatly appreciated, especially ones that can help...
Posted by AllRight Consulting & Tax, LLC on 12/15/2014
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
