Impact of tax amnesties on offshore FSThis report introduces Datamonitor's proprietary Tax Amnesty Assessment Index. It is a quantifiable assessment framework of 15 criteria, grouped within five critical amnesty conditions, that can be used by offshore banks to determine the likely impact of any announced amnesty on their assets under management.( http://www.bharatbook.com/detail.asp?id=134192&rt=Impact-of-tax-amnesties-on-offshore-FS.html...more
Each year millions of Canadians scramble to get their tax papers in order. Each year, many of these same Canadians are scrambling to find out what new tax rules have been introduced as well as what old tax rules have been changed. Many of these changes stem from the federal budget being brought down at the beginning of 2009. These major tax changes can easily affect how much personal tax you will pay and for most people, it pays to know the...more
It's tax season again and what a confusing time for Canadians who have not been keeping up with all the new tax rules and changes. Filing annual personal income taxes is trying enough, but combine that with the software choices and changes, well, it does not necessarily make for a pleasant experience. Among the many things there are to know when it comes time to file, there are also a few things Canadians need to not know. With so many common tax myths out there, it's hard to know what is what. Here is a brief list of tax myths that will hopefully sort out your tax questions.Many people think they should be receiving a tax refund every year. This is completely FALSE. Getting a tax refund means that you've overpaid in your employment tax deductions somewhere. A refund can also result in a yearlong RRSP contribution or from childcare expenses. In essence, getting a refund means you've been providing the government use of your money for the past year, interest free. A common belief is that once you get your refund, you are in the clear. This is definitely a FALSE myth. The Canada Revenue Agency will initially assess your return without the supporting documents. However, they do have a...more
IRA contributions usually affect your current taxes in positive ways. It's basically a way to save money for your retirement on a tax-free basis now (in other words, you don't pay tax on the income you plop into an IRA until you take it out), so that you'll have something to live on after you retire and no longer have an earned income. In addition...more
Meade Accounting and Taxation Expedites Tax Preparation in Richmond HillDoing tax preparation can be complex, cumbersome and time consuming and Meade Accounting and Taxation [Meade Tax Help] removes those concerns by expediting tax preparation in Richmond Hill and other areas. Their tax preparation services enable clients to comply with tax laws...more
In Part I, we discussed the different tax brackets for the Regular Tax and for the Alternative Minimum Tax, as well as the AMT exemption. For 2009 for married couples filing jointly (MFJ) the AMT exemption was $70,950. In this article we will...more
If you're like me then you spent far too much time ignoring your family last night in favor of the 2010 NFL draft on ESPN during primetime television. In years past the draft has held its most popular segment the first and second rounds on...more
Few of us love paying taxes, and small time investors are not exceptional. Although we might from time to time be proud of our patriotic duty of paying taxes, we are mainly angry because of the way that we feel that the government is misusing the...more
Reducing Your TaxesThis is only a brief overview but hopefully it has started you thinking. For some, the saving might be small or, at worst, you will discover that you are now certain that you are not paying too much tax. For others, a review could...more
The organized distribution of taxes is a tradition and a concept that dates back to ancient times and has had a large impact on the creation of our democratic government in the United States. So, you would think that we should be pretty familiar with...more