Foreign Corporations and non-resident aliens who have a U.S source income are subject to U.S Taxation. According to codes section 871 (b) and 882, all Foreign Persons are taxed at...
Posted by The Accounting and Tax on 12/06/2014
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
Some people rather complete the tax return themselves as opposed to having a professional tax preparer do the job for them. Most individuals are not aware that tax preparation fees...
Posted by AllRight Consulting & Tax, LLC on 12/01/2014
Small business owners with fewer than 50 full-time employees are exempt from the requirements of the ACA for 2015 only; however, Congress is considering extending that time period....
Posted by AllRight Consulting & Tax, LLC on 11/25/2014
Code Section 901: According to this code section if a U.S Citizen, a resident alien or a domestic corporation pays foreign income taxes it can claim credit for it when filing...
Posted by The Accounting and Tax on 11/19/2014
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
For international transactions Governments have to decide which person and what income needs to be taxed. The basis for this can be personal relationship and economic relationship. Personal...
Posted by The Accounting and Tax on 10/28/2014
For small businesses that are looking to grow to the next level, it can be difficult to find a way to raise the capital to support that growth. However, if you have decided that you...
Posted by Patrick O'Hara, EA on
