There are certain provisions in the tax laws that are admittedly difficult to understand unless you have a good background of the law. And the adjustments or amendments that are made...
Marriage is good for many reasons. Apart from the fact that married couples are happier (at least a majority of them), marriage also takes some financial burden off your shoulders....
Posted by BHATIA & CO, INC, CPAs on 01/13/2016
Everything you need to know about audit procedures Audits are done to protect the capital markets. They assure and provide confidence to investors and potential investors in an organization’s...
Posted by BHATIA & CO, INC, CPAs on 10/30/2015
10 Things You Should Know Before Hiring A Tax Preparer It is never an easy task to do your taxes and most people prefer to hand it over to someone else. If you are one of...
Income of a Taxpayer Salary, wages, remunerations, for services and gratuities received by a taxpayer are all considered as income of a taxpayer. These types of incomes are taxable...
U.S Internal Revenue code does not give any special status to RRSP, TFSA, RESP, RPP or DSPS plans. If an employer contributes to a registered pension plan or a deferred profit-sharing...
The following items are not included in income of taxpayer for a taxation year: Amounts declared to be exempt by legislation of the Parliament of Canada (s. 81(1)(a)) Amounts received...
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...