In general, all salaries and other compensation for services rendered in the United States are believed to be from sources located in the United States. The place where the personal...
Posted by The TaxAdvocate Group, LLC on 01/09/2022
We recommend that you keep some documents and files longer than others. It really depends on the document and your business.With the exception of some guidelines from government agencies,...
Posted by Dennis Jao on 12/10/2021
Why is it important to know the taxpayer's source of income? This is important because the Foreign Tax Credit (FTC) can only offset U.S. taxes on foreign income. An American is...
Posted by Tiffany Gaskin on 08/15/2021
The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
Posted by Pat Raskob on 05/24/2021
Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
Posted by Pat Raskob on 04/30/2021
As a U.S. citizen or U.S. Resident Alien, you must pay taxes on your worldwide income. Suppose you are not a resident of the United States or its territories or have income in the...
Posted by James Financial Services Inc on 02/23/2021
If you look at the TCJA, you will see that the C Corps' new tax rate is 21%, while the maximum individual rate is 37%. Also, individuals can benefit from a 20% deduction for pass-through...
Posted by CORE PERFORMANCE on 01/14/2021
If you're like most business owners who want to close the year and prepare taxes this month, there are several holiday expenses that you can deduct that can save you thousands...
Posted by Karen Munoz, EA on 12/15/2020
Congress retroactively repealed the 2017 Tax Act that imposed income taxes on unrelated business income tax on non-profits that provided employees with qualifying transportation benefits....
Posted by Income Taxes and Bookkeeping LLC on 11/18/2020
