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
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
Code Section 7701 (a)(30) U.S citizens are U.S Persons and Citizens of foreign countries are U.S Persons who meet either of the following two tests: Green Card test Substantial...
Posted by The Accounting and Tax on 12/28/2014
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
Ref Code Section 871 (b) and 882: According to these code sections if a foreign person is engaged in a U.S trade or business, he is subject to U.S taxes for any income that is connected...
Posted by The Accounting and Tax on 12/10/2014
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
