Tax Articles

These Tax articles will give you the news and information you need to stay up to date in the ever changing Tax industry.

April 2, 2013 – 1,623 views
Tax Professionals' Resource
If you are doing business in Canada, then there are many tax issues that you should take care of. The Canadian tax system for business is governed largely by the Federal Income Tax Act. The Sales Tax Act and Corporate Tax Act also play an important role in this matter. The tax rules will apply if you are shipping your products to Canada or if you are expanding your business activities in the country. You should also take care of the tax issues when the employees of your organization are involved in providing services to the citizens of Canada. In such cases, you should have a clear idea about the income tax and transactional tax laws that are applicable to the country. The following are some of the tax issues regarding the establishment and running of businesses in Canada... Full Story 
April 1, 2013 – 1,876 views
Tax Professionals' Resource
Before a funding agency makes huge investments in private sector operations, they conduct what is known as due diligence. There are risks along with benefits involved in working with the private sector. The risks can be minimized with due diligence. The context of USAID conducting due diligence is the Global Development Alliance. However GDA partners are not subject to the due diligence in the traditional sense as they contribute resources. They do not receive the USAID funding. So, they are subjected to a different due diligence. The due diligence in case of GDA includes five areas that are investigated. These are corporate, social, environmental, financial, and policy... Full Story 
March 28, 2013 – 1,761 views
Tax Professionals' Resource
According to a new standard in accounting, businesses would now be required to report uncertain tax positions as identified in UTP (Uncertain Tax Position) form. The tax year 2010 forms the base year since when the disclosure would be required. Corporations having over $10 million assets with uncertain tax position, and financial statements audited are required to file the relevant form. The requirement of mandatory disclosure may be expanded to include other entities and organizations after the evaluation of the program in its first year... Full Story 
March 19, 2013 – 1,561 views
Tax Professionals' Resource
It is a time when uncertainty looms all around – a time to prepare for the tax season, the fiscal cliff negotiations, which culminated dramatically just moments before the deadline, have facilitated a number of tax changes to postpone what many were citing as an impending doomsday. Some of these tax changes target the telecommuters, and if you are one, there is a lot that you will need to learn about telecommuting taxation. Many changes were made regarding the self-employment tax, Medicare surtax, and so on. Here is a thing or two about the new taxes, which any employer, needs to consider when dealing with telecommuters for this year... Full Story 
March 15, 2013 – 2,445 views
Tax Professionals' Resource
Very often veterans, who are also homeowners, will want to receive the Veteran's Aid & Attendance Benefit. However, it is possible that these veterans will be living in an Assisted Living Facility (ALF), and will need some money from home to fund the living expenses of the veterans at the ALF. This means that they will have to sell their house. This is where estate planning becomes important... Full Story 
March 15, 2013 – 1,826 views
Tax Professionals' Resource
Fair value accounting refers to an alternative approach that tries to capture alterations in liability and asset values over a period of time. According to this approach, liabilities and assets are measured regularly to reflect any changes in their worth. The changes that are found usually impact comprehensive income for a period or the net income. A balance sheet is produced which accurately reflects the present values for liabilities and assets... Full Story 
March 15, 2013 – 1,755 views
Tax Professionals' Resource
The role of brands and the attitude to branding in non-profit organizations are starting to change. Some are still skeptical about branding because they think that it's just a fund raising tool. However, there are also a lot of people who are now embracing branding as a strategic tool to drive their social goals and to build internal capacity and cohesion. We need to have a better idea of the potential role of the non-profit brand... Full Story 
March 13, 2013 – 1,476 views
Tax Professionals' Resource
When job seekers look at their opportunities, the benefits they receive are very often an important factor. In non-profit organizations, budget constraints mean that there is a limit on the salaries that they can offer. Offering a robust and competitive package of benefits is an effective way to retain employees and attract new talent. There are many ways this can be done... Full Story