Blog Archives
Reading Time: 4 minutes Each tax season, many business owners and individuals discover they owe the IRS late filing penalties and/or late payment penalties. But, more often than not,
Reading Time: 5 minutes Filing your tax returns can be a very overwhelming process. The situation can add to the complexity when you file an extension for your tax
Reading Time: 3 minutes With inflation going up, people get pushed into higher income tax brackets as well. To regulate the impact of inflation, the income tax bracket gets
Reading Time: 3 minutes As the new year is approaching, the deadline to file your tax for 2023 is near. It is estimated that the IRS starts accepting tax
Reading Time: 4 minutes With the right tax strategy, your business can avoid paying a sizable sum of taxes to the government. Companies that heavily invest their thought processes
Reading Time: 7 minutes You might have read and enjoyed our recent article on the Top 5 Reasons People Change Accountants, and while it’s great to know what we
Reading Time: 3 minutes What is Foreign Tax Credit? As a US citizen or US permanent resident tax payers receiving earnings from foreign countries or US possessions, you may
Reading Time: < 1 minute Yes, and let me tell you why and how. There are many negative consequences associated with unpaid taxes, especially if they have been building up
Reading Time: 6 minutes Are you delivering your goods to customers in Canada? Do you intend to increase your sales and marketing in Canada? Do your staff occasionally sell
Reading Time: 3 minutes
Reading Time: 4 minutes Every country has its policies regarding taxes. Some countries, for example, Monaco and Qatar, don’t tax income at all. Each country designs tax policies to
Reading Time: 5 minutes U.S taxpayers are required to report and pay taxes on their worldwide income. If you are a U.S. expat and living/working abroad, FBAR, FinCEN 114,
Reading Time: 3 minutes If you are an American citizen or a U.S. expat, and meet a certain income threshold, then you are supposed to report your foreign bank
Reading Time: 3 minutes Let’s be honest – nobody likes paying extra taxes. You don’t want to spend more than necessary money on taxes, just as you wouldn’t want
Reading Time: 2 minutes As apparent by the name, “International taxation” refers to the taxes applied on the income that businesses and companies earn by selling their product and
Reading Time: 3 minutes Taxation involves complexity. It’s completely normal to think this way. To file a single tax return, you will have to go through these stages: understanding
Reading Time: 3 minutes We have compiled several important US Tax Residence rules that every Canadian should know and understand when visiting the United States or even stay in
Reading Time: 4 minutes Dealing with cross-border taxes can often be confusing. Since you deal with the regulations of two countries, you may need to put in some extra
Reading Time: 3 minutes The taxation process is confusing. It’s normal to think this way, considering the number of laws, rules, and forms we need to interpret. Confusion between
Reading Time: 6 minutes When it comes to dealing with multiple countries and their financial systems, things can get complicated quickly! Luckily, for individuals there are a few pieces
Reading Time: 2 minutes A TFSA is not considered tax-free by the IRS in the U.S., and income earned in a TFSA is reportable andtaxable on a current year
With our expert team, strong code of ethics, clear vision and passion, we strive to meet our clients’ financial goals
For assistance in planning and transferring your US assets to Canada please contact our colleague Phil Hogan, CPA, CA, CPA (CO) at 250-661-9417 or via email at phil@philhogan.com
Copyright © 2020 Akif CPA | All Rights Reserved
