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...
Tax returns can be quite a task if you are not aware of what all deductions you can include and how to itemize them. But the Internal Revenue Service website contains all the information...
There will come a time when you have to start pondering over when and how to withdraw money from your work-related 401(k). If your employer’s pension plan administrators have...
A small business generally doesn’t have a stream of corporate tax lawyers and accountants to plow through the ever evolving tax regulations to find all the legal methods and...
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...