With the European Union expanding and borders contracting, more and more people are entering the UK, with figures reporting over 1,500 migrants entering a day.Many foreigners believe they do not have to pay any taxes when working abroad. This is however, not true. If you work in the UK you have to pay the government a percentage of your income in taxes, if you earned over your tax-free allowance of 6,475 pounds. However, as a foreigner, you have...more
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 other head. In general a trade or industry association is a society registered under Societies Registration Act. Various business units are its members. They pay a subscription charges to the association. The association uses that money to provide services to its members like diffusion of knowledge, trade fairs, seminars/workshop etc. The association is a non profit organization controlled by the members themselves. They decide what activities will be undertaken by the association. If any surplus left with the association, it is further used for the benefits of the association. The accounts of the associations are periodically checked by the members. Can it be argued that association and members are same, i.e. they are not two different...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...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 achieve its purpose of getting you on your way to becoming a better writer. Click here for a sentence structure corrector! Mailing memos and newsletters with improper grammar is very distressing. In spite of the fact that machines can't analyze a language as the human mind does, there continue to be amazing advances that i want to share with you. This may sound too good to be true, but i came across a specialized new technology that is capable of automatically repairing your english errors. Distinct from the word processing programs most of are familiar with, this application can do more than correct your english mistakes; as a bonus, it ranks the quality of your written english text. Surely you'd be disappointed if you encountered a spelling or grammar blunder as you're handing your Manuscript to a prospective publisher. I am quite sure that...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...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 by the...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 write-off...more