For many small business owners, it is important to know what type of taxes you are responsible for early in the process of creating your business. At the same time, many small business...
As a small business owner, you are probably already aware of the difficulties presented to you by making it successfully in this world of corporations. In order to get the absolute...
Rules for determination of amount, timing, character and source of foreign currency gains and loss are present in code section 988. Following transactions are included in code section...
Posted by The Accounting and Tax on 01/28/2016
USA will only tax foreign business earnings if it repatriates it to USA through dividends. This policy is known as “deferral”. Deferral creates an opportunity for avoiding...
Posted by The Accounting and Tax on 01/10/2016
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
Refer Code section 904: Limitation on Credit: Source of income rules play a very vital role when it comes to computation of foreign tax credits limitation of a taxpayer. If foreign...