Living a good life can be owning a home, owing a business, being debt free, driving a high end car or having a good investment portfolio. These goals are achievable with a strong financial...
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...
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...
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...
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...
Aggressiveand threatening phone calls by criminals impersonating IRS agents remain to top the annual "Dirty Dozen" list of tax scams for 2015 filing season. The IRS has seen a surge...
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...
It’s hard to believe that the tax return filing season is just a couple of weeks away. While some of our clients are unable to complete their return until later in the...
Posted by Carlos Samaniego on 01/08/2015