Anyone with a creation like art, music, literature, etc., which someone else used and profit from it, there will be royalty income to the owner. This means that if anyone uses your...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 03/18/2021
We define backup withholding as a form of federal tax withholding on income that wouldn't usually require tax withholding. While some forms of income are not subjected to taxes,...
Posted by The TaxAdvocate Group, LLC on 12/31/2020
Royalties are payments to property owners for the use of their properties. Royalties generally refer to payments for using intellectual property (IP), such as copyrights, patents,...
Posted by Unifirst Financial & Tax Consultants on 12/24/2020
There are many types of royalties which people have to make but here we will be discussing about the property taxes royalties. It is important for you to understand that paying off...
Posted by Unifirst Financial & Tax Consultants on 07/31/2018
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...
Posted by The Accounting and Tax on 05/28/2015
Gross income comes from following categories of income: Interest, Dividends, Personal Services, Rentals, Royalties, Gains from disposition of property. Leasing generates rental income....
Posted by The Accounting and Tax on 03/05/2015
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...
Posted by The Accounting and Tax on 12/24/2014
Deemed Paid Foreign Tax Credit U.S.A If a domestic Corporation receives dividends from foreign Corporation it usually cannot claim a deduction for dividends received. These dividends...
Posted by The Accounting and Tax on 12/01/2014
Code Section 901: According to this code section if a U.S Citizen, a resident alien or a domestic corporation pays foreign income taxes it can claim credit for it when filing...
Posted by The Accounting and Tax on 11/19/2014
