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
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
All tax preparers who call themselves tax professionals should be asking you all the right questions to have every reasonable tax deduction taken for you. Taxes should not be treated...
Posted by PERFORMING FINANCIAL SERVICES, INC. on 12/17/2014
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
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
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
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
