If foreign tax credits exceed the limitation in a given taxable year, these can be carried back one year and forward up to ten years. Excess credits on general limitation income...
Posted by The Accounting and Tax on 12/25/2015
Capital gains and losses receive a special treatment under U.S tax law. Individual capital gains and losses are netted. Non corporate taxpayer’s net capital gains get a preferred...
Posted by The Accounting and Tax on 12/23/2015
General Income: It includes all income other than passive income. It includes most of the foreign source active business profits of domestic corporations and their foreign subsidiaries. Passive...
Posted by The Accounting and Tax on 12/21/2015
As the tax deadline is right around the corner, it is important to make sure that you are properly prepared for the big day. Many people are persuaded by friends and family to believe...
Posted by Financial Balance LLC on 11/30/2015
Young families can keep their tax bills low by following some significant measures. Our list will help them to save for college, benefit from their flex account, and through many other...
Posted by Cheryl Panattoni Forensic Accounting and Tax Inc on 11/30/2015
Paying taxes is a burden that everyone has to bear but the Internal Revenue Service does have a few tax breaks and deductions that help ease your tax burden. Also, taxes are different...
Posted by Stephen Elmore on 11/30/2015
When it comes time to file your taxes, you may be wondering what head of household is and why you should or should not claim it. If you have never heard of the term, you are not alone...
Posted by Stephen Elmore on 11/19/2015
Single parents filing their taxes have various deductions and tax credits they can use to reduce their taxable income and decrease the amount of personal income taxes they have to...
Posted by East West Accounting Services LLC on 11/19/2015
As you hear the word taxes, you want to run away. Dealing with your taxes can often be tiresome and frustrating and you woe the day you have to file your tax returns. Then there are...
