Corporate Tax Singapore has one of the most competitive corporate tax structures in the world. The corporate tax structure is a pro- business package inclusive of wide ranging stimulus such as income exemptions, incentives, generous capital allowance and a wide spanning network of double taxation avoidance agreements. Here is a preview of the chief features of our tax system. Singapore resident companies are taxed on chargeable...more
With effect from 16.06.2005, Service Tax was levied on Club or Association Services. Club or Association was defined under Section 65(25a) as, Club or Association means any person or body of persons providing services, facilities or advantages, for a subscription or any amount to its members. The purpose of this paper to examine as to whether trade or industry association can be liable to pay Service Tax under this head or under any...more
Moving is an experience most people dread. Not only is it stressful, its expenses often run in the thousands of dollars. One silver lining is that those moving expenses are often tax-deductible. This article details the IRS guidelines on tax deductions for moving. IMPORTANT NOTE: These are guidelines based on material published by the Internal Revenue Service, but always check with your tax professional.Qualifying for the DeductionThere are two basic ways to qualify for moving-related deductions: *Passing two IRS requirements for moving deductibility because of your job: the distance test and the time test*Qualifying under special circumstancesYou will have to meet all the requirements under one of these two methods for any of your expenses to qualify. The Distance TestThe IRS wants to determine that your new job is more than 50 miles further from your old house than your old job was from your old house.Sound complicated?It isn't once you get familiar with it. Let's break it down to make it easier. There are only four numbers involved.First, calculate how far your old job was from your old house. Let's say that was 10 miles. We'll call this the "old house, old...more
Despite the new tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is a whopping 46.3%. Why? Because Social Security benefits are subject to income tax. Those affected are Social Security recipients who have the good fortune (misfortune?) to be subject...more
Many writers among us are unfamiliar with what a sentence structure corrector is and its capability to aid us to produce high-quality text. Thanks to the internet, we all now practice the art of writing for us to convey our opinions and beliefs and to communicate. If you want to improve the way you write, this brief article will...more
There are many things to consider after a successful turkey kill. Many hunters choose wild turkey hunting for a variety of reasons. After a successful turkey hunt, you will be faced with a variety of choices. If you are interested in preserving the turkey kill, should you choose a professional taxidermist? Or should you proceed with dressing in the field? Taxidermist or Dressing in the Field – Making the Right Decision The decision between using a taxidermist or dressing your kill in the field depends on what your final goal is. If your final goal is to mount your wild turkey kill, you should not dress your own kill in the field. However, if your goal is not to mount the wild turkey kill, then you should go ahead and dress your kill in the field, especially if the day is not especially cool and you are far from home. What to Do If You Would Like to Mount Your Wild Turkey Kill What if you are planning to mount your own wild turkey kill? If this is your final goal, begin by shopping around for professional taxidermists? Visit all the local professional taxidermists in your area in order to get a feel for their work and prices. Check on their work and prices. Play...more
For the successful trader, the best tax advice is to incorporate.With the proliferation of online stock and option trading, traders are looking for tax advice on the best way to structure their trading business. This especially true for day traders,...more
Bloomberg's Global quarterly survey was polled by over 1,400 Bloomberg subscribers in six continents. New York topped the survey as the hottest place for financial services and it has sustained its supremacy in spite of being severely battered...more
Devendra JainIn a vastly populated developing nation, the parallel role of NGOs in public welfare is indispensable. The Income-tax Act, 1961 has recognized the importance of the very concept of charity in the Indian society. The income derived by...more
Ever want to know how social security tax rates have changed over the years? Let’s start by reviewing how money comes into the social security system. How Money Goes InIt all starts when a parent submits a social security card...more
If you've been thinking about donating a car for a tax deduction and not sure how to go about it, here are some tips you should know. You want to be able to donate the car, truck, RV, boat, motorcycle or other vehicle and get the best tax...more
Low Income Housing Tax Credit (LIHTC or Housing Tax Credit) program has been made a permanent element of chapter 42 of the Federal Income Tax Code. Owners of Low Income Housing Tax Credit Properties receive tax credits for a portion of the...more