Speculation: Biden may increase taxes to boost healthcare
With the advent of the COVID-19 led global pandemic, health has become a primary concern for all the countries around the world. The global superpower and the world’s most industrialized nation such as the United States of America has been
Eliminating country-specific immigration cap: Key takeaways
The United States of America has been the world’s most powerful and leading economy for many decades over the last century. It has become a dream for the citizens of many other nations, especially the developing countries to work and
Change in political regime: How to cope up with changes in taxation policies?
The United States of America recently witnessed one of the most critical elections to elect its next President for another term of four years amidst the ravages of the Coronavirus pandemic. With a fairly good turnover of people who has
What is ‘privilege tax’ in Deutsche Bank’s research note?
The entire global economy has been shattered beyond hopes because of the pandemic caused by COVID-19 With the news of the development of Coronavirus vaccines across the world by some of the leading medical companies in the USA, India, and
Foreign Account Tax Compliance Act
There are Many Americans in Canada who do not file their income tax returns with the IRS despite clear rules requiring it. If you are in such a position, you are not alone, but you cannot ignore this problem. In March
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
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
How to evaluate your spending?
Most of us spend here and there without any reason. Such spending can soon pile up. You need to keep track of your spending to stay within your budget. Creating a spreadsheet with a list of expenses can help you keep track
Live in Canada and earn from the US? All you need to learn about the taxes
If you are a Canadian resident but earning from the US and unclear about the tax rules then this article will surely help you out. It covers everything that you must know about tax liability on your foreign income. The taxation