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....
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...
Gross income comes from following categories of income:
Interest, Dividends, Personal Services, Rentals, Royalties, Gains from disposition of property.
Leasing generates rental income....
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...