Which US States Are Likely To Witness Change In Taxation Policy After Presidential Election Results And What?
The United States of America has one of the most complex taxation systems in the world. With the imposition of federal, state, and local taxes on US citizens, it becomes imperative for them to be vigilant and be watchful of
US Presidential Elections: Key Takeaways For Immigrants And Expats
In the nail-biting race for the post of the President of the United States of America (USA), the world’s most powerful and largest democratic nation, Joe Biden of the Democratic Party succeeded to secure the majority to become the 46th
Investment Income
Rental income, interest and dividends are called investment incomes and are taxed differently than the active income. When a corporation receives rental income or interest income from long-term investments, this income is called specified investment business income. This kind of income
Claiming Input Tax Credits (GST/HST)
You can claim input tax credits for general business operating expenses. These are expenses you incur on day to day basis like office supplies, maintenance and repairs, telephone or utilities. If the general expenses are used 90% of the time for
Declaration of the Household Goods when moving to the U.S
When moving to the U.S you need to file form 6059B – Customs Declaration, which requires a complete list of inventory of all the goods you are importing. Make a list of all the items you are carrying with you and
Giving a Loan instead of a Gift
If a family member or a friend needs money, you can consider an option of making a loan instead of a gift. A loan can accompany a promissory note that can have a re-payment schedule attached to it. You can opt to
Voting from overseas: Does it impact your tax status in the US?
November 3rd is the presidential election day scheduled in the United States of America. Thus a plethora of doubts must have been raised due to the election scheduled. Americans living overseas often have questions about whether they can vote, how
Is taxation in the US the reason behind the increase in citizenship renunciation?
Citizen Renunciation is the voluntary act of relinquishing one’s citizenship or nationality. It is a complex process that involves giving up all your rights associated with being an American citizen. For example, the right to vote, the right to visit
Why should you reach a tax consultancy before starting business in New York?
Well, millions of taxpayers decide to perform complex tax preparation by themselves. And it's something that cannot be taken up casually. It's an extremely important subject matter. Yes, this practise may not put their life at risk, but it is
Difference in taxation policies in different US states
Taxation and taxation policies form to be the central part of the United State of America's modern public finance. Even today, taxation policies are by far the most significant source of revenue for the government. Hence, it is of great