“No Taxation Without Representation” has been a popular slogan originating in the 1700’s that summarize one of the many colonial grievances of America’s thirteen original colonies, and one of its key causes of our country’s founding. Although we all know
Double taxation is when two or more countries charge tax on the same asset, income, or business transaction. Sometimes, this may occur when an individual is taxed in both places. There are two types of double taxation: income tax and
When the Sixteenth Amendment was passed, it allowed Congress to impose an income tax, without apportioning it between the states, on the basis of their population. It was enacted by Congress in 1913 in response to the 1900 Supreme Court
A number of people today find it difficult to calculate taxes. However, the process of calculating taxes has become a very easy process if you follow certain rules and guidelines. Some of the important tips that you have to keep
Most people are concerned with the state of our economy, but the truth is that most people don’t understand how to pay federal taxes. It’s easy for people to get overwhelmed when it comes to tax issues and the IRS,
With the increase in the number of people filing their income tax returns, there has been an increase in the need for assistance from professional tax preparers. Here are some of the basic methods for working with a qualified income
Income tax return is basically the form in which the taxpayer files information on his Income tax payment and thereon to the Income tax department. Various types are I TR, II TR, TRI, I TRS and TRIS. For filing a
A tax credit is an income tax benefit that enables certain taxpayers to deduct the amount they have earned from the tax they owe the government. It can also be a gift granted as a form of support or an
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