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...
For most taxpayers, a tax refund is a windfall, a huge amount of money that could be used for many important purposes, but is paid in taxes only to be returned a few months later....
Rental income An owner of a rental property is eligible for tax deduction from the earnings of gross rent provided the owner makes the following expenses in the current fiscal year....
Posted by ERNIE BUSTAMANTE on 10/30/2015
Considered as one of America’s greatest crimes, senior financial fraud has left both the elderly and their children worried. A recent survey found that people in America,...
Are You Prepared for Your Small Business Taxes? Tips to Help You Save Many small business owners become frazzled around tax time and as the year comes to a close, they know it is...
Top 20 things that you can deduct from your taxes As soon as it is time to file your tax returns, your face changes color and you grumble and mutter to yourself while filling...
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...
All businesses are required to report sales and income over a taxation year. Profits = Sales – Expenses Net Income = Profits – Taxes Categories included in an income...
Posted by The Accounting and Tax on 05/07/2015
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...