Tax season sends everyone into a frenzy and people who are often quite adept at their filing their taxes also are caught in the madness and end up making mistakes. This is often...
Posted by Asharp Bookkeeper on 12/21/2015
After computation of creditable foreign income taxes, next step is to compute foreign tax credit limitation. Example: USAco has U.S source income = 200 Foreign source taxable...
Posted by The Accounting and Tax on 12/18/2015
The United States restricts the credit to foreign income taxes that duplicate the U.S income tax against which the credit is taken. Under code section 901, a foreign levy must...
Posted by The Accounting and Tax on 12/18/2015
Everyone wants to reduce their taxes and their taxable income, especially retirees and those who are living on a fixed income. They want to lower their tax liability more than anyone...
Posted by Cheryl Panattoni Forensic Accounting and Tax Inc on 11/30/2015
A taxpayer has various options when it comes to filing his or her income tax returns. If you earn a modest income, do not own a house, work for someone else, or supervise plenty of...
Posted by East West Accounting Services LLC on 11/29/2015
The National Association of Enrolled Agents reports even smart taxpayers can make mistakes, while filing their taxes. This is because of the complex tax code that confuses not...
Posted by ERNIE BUSTAMANTE on 11/29/2015
US tax rules and regulations keep getting complicated every year. Successive governments introduce new rules based on the party’s platform and every year there are modifications...
Posted by Asharp Bookkeeper on 11/20/2015
Donating is popular throughout the United States and many people give to their favorite organizations throughout the holidays and year as well. If you enjoy the gift of giving and...
Posted by Financial Balance LLC on 11/19/2015
Are you classified as an independent contractor or an employee? If you do not know, it is easy to tell the difference. An employee is someone who works for the company, follows the...
Posted by Financial Balance LLC on 11/19/2015
