Earned Income tax Credit is an endeavor of the IRS to help millions of Americans. People need to review their credit and see if they qualify. Existing since 1975, it is one of the...
Posted by Frank Penn on 02/18/2020
If a capital loss occurs, you can report the damage on your tax return, which can reduce your taxable income, and the sum of tax owed. However, it is essential to note that the Internal...
Posted by LLOYD J CAZES CPA on 02/15/2020
In a bid to support low-income earners, the federal government, with the support of some state of the U.S., came up with the Earned Income Tax Credit (EITC). The aim is to support...
What is Tax Loss Carry forward?Tax-loss carry forward is defined as a rule that permits a taxpayer to carry over his/her tax loss incurred in the previous year and use this as a deduction...
Posted by Unifirst Financials & Tax Advisors on 01/30/2020
Income tax in Canada is duly administered by Canada Revenue-Agency. The time period taken into account is between January 1 and December 31 of a financial year. In case you owe personal...
Posted by The Accounting and Tax on 08/20/2019
Even though tax comprises a lot of things that come as benefits such as healthcare or education, there is a common belief that Canadians pay more taxes than their American counterparts....
Posted by The Accounting and Tax on 06/22/2019
If you have filed as of late documented your taxes and were expecting a huge refund check, you might be stunned in case you check the tax discount status and find that it's never...
Posted by Tax Crisis Rescue on 05/29/2019
If you are a Canadian and own a small business in your home, then you may wish to pay a lower amount of tax and may look for opportunities to claim tax write-offs. You can easily assume...
Posted by The Accounting and Tax on 05/27/2019
You can be a freelancer, a self-employed worker or even a small business owner; but, when you’re in Canada, the Canadian Revenue Agency (CRA) will always handle your income tax...
Posted by The Accounting and Tax on 05/26/2019
