In the previous article, we touched base on the various types of allowances and deductions allowed to people serving in the Armed Forces. Notably, exclusion of income of members...
Posted by AllRight Consulting & Tax, LLC on 01/12/2015
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
As tax professionals, we need to be prepared to answer our client’s questions and help protect them against swindlers who are trying to steal their money and, in some...
Posted by PERFORMING FINANCIAL SERVICES, INC. on 01/02/2015
The following items are included in income of taxpayer for a taxation year: Alimony or maintenance payments (s. 56(1)(b) and s. 56(1)(e)) Allowances for personal, living, or any...
Posted by The Accounting and Tax on 12/27/2014
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
