Under the IRS rules, a taxpayer is allowed to deduct expenses related to business use of a home, but only if the space is used “exclusively” on a “regular basis”....
Posted by East Harlem Tax Service on 05/23/2015
Living a good life can be owning a home, owing a business, being debt free, driving a high end car or having a good investment portfolio. These goals are achievable with a strong financial...
Posted by The Accounting and Tax on 03/10/2015
Gross income comes from following categories of income: Interest, Dividends, Personal Services, Rentals, Royalties, Gains from disposition of property. Leasing generates rental income....
Posted by The Accounting and Tax on 03/05/2015
Financial planning should not be difficult. It is basically a plan to save for your retirement, education of your children or buying a house. You should clarify your goals and set...
Posted by The Accounting and Tax on 01/24/2015
Code Section 7701 (b)(2)(A)(iii) U.S residency start date depends on two things: ü Residency is established under the green card test. ü Residency is established...
Posted by The Accounting and Tax on 01/23/2015
Did you ever go to your tax preparers office to have your income tax return completed, only to find that you left an important form at your home or office? Does your income tax preparer...
Posted by PERFORMING FINANCIAL SERVICES, INC. on 01/16/2015
Many tax payers think that only the self employed can deduct business expenses. Such is not the case. Employees can deduct some of their unreimbursed business expenses...
Posted by AllRight Consulting & Tax, LLC on 12/30/2014
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
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
