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...
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
The US tax system is setup on both the federal and the state level. There are several taxes which citizens must file. These taxes include: income tax, capital gains and sales tax....
Posted by East West Accounting Services LLC on 01/05/2016
Tax planning is a necessary evil in the modern era. Prior to filing tax returns in April 2016, you must know about the important income tax deductions that will assist you in efficient...
Posted by Asharp Bookkeeper on 10/30/2015
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...
Canadian citizens working in the United States are usually not sure if they should be filing taxes in Canada. According to CRA if someone is not considered to be a resident of Canada...
U.S Tax law requires substantial amount of financial information. If you or your family members control directly or indirectly any non-US corporation and you have holdings in it, you...
The United States taxes its citizens on their world income even if they are not present in the United states. Canada taxes its residents on their would income. U.S Citizens...
If a taxpayer has personal relations with one country (Home) and derives income from another country (Host) it can cause a double taxation issue. The host country will most likely...