Background:U.S investors in foreign mutual funds could avoid U.S taxes. The fund itself could avoid U.S taxes because it was a foreign corporation that only derived foreign source...
Estimated tax is the method some employers use to pay income taxes. When paying income taxes, there are two methods allowed by the IRS; the withholding method or, you guessed it,...
If you plan on filing your own business taxes this year, it is important to gather the following documents below as it will make the process much easier for you.
If you run into any...
What is money laundering?
Money laundering is a criminal act perpetrated by individuals in which they disguise the real ownership and control of the proceeds of illegal conduct by...
Having a Baby? Keep Your Eye on These Tax Deductions
Let’s face it. Having a baby is expensive, especially if it’s your first. As you prepare to welcome a newborn into...
Gross income comes from following categories of income:
Interest, Dividends, Personal Services, Rentals, Royalties, Gains from disposition of property.
Leasing generates rental income....