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...
Posted by The Accounting and Tax on 03/10/2015
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
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
Resident aliens in the United States are taxed on their world wide income. Nonresident aliens are taxed on their U.S source income. Code Section 7701(b)(1)(A) An alien will be considered...
Posted by The Accounting and Tax on 01/05/2015
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
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
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
