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
During your working career, you are mostly worried about the current expenses you and your family have to bear. Life is fast-paced these days and a majority of people seem content...
Posted by Asharp Bookkeeper on 11/20/2015
The US tax system is continuously growing as the government is constantly adding new rules to close loopholes and increase tax revenues. Yet, there remain many strategies people can...
Posted by BHATIA & CO, INC, CPAs on 11/19/2015
Bases for asserting jurisdictions Who to tax? What income to tax? Personal relationship between a taxpayer and the country This concept also applies to corporations and other type...
Posted by The Accounting and Tax on 10/13/2015
Source of income can have significant impact on calculation of foreign tax credit limitation. Formula for foreign tax credit limitation = Pre-credit U.S tax x foreign...
Posted by The Accounting and Tax on 02/18/2015
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
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
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
