Category: income tax

Choosing Someone To Do Tax Preparation

For most people, the tax season is a headache-inducing time of the year. Aside from the tons of computation that one has to do, an individual would also have to make sure that they fill their forms properly and have the needed attachment in place. Although this might be of little concern to people who… Continue reading Choosing Someone To Do Tax Preparation

The countries with the world’s top 5 highest income rates

With the globe still struggling to recover from the worst recession since World War II and elections occurring in Europe and the USA, taxes have once again become a hot topic of conversation as many countries propose further rises. But which countries currently have the highest income tax rates? 5. Japan, Belgium, Austria, UK (tied)The… Continue reading The countries with the world’s top 5 highest income rates

Overview of the Indian Tax System

The Indian tax system can be very complex, but for a clearer understanding, we can break it down into simple elements that make up one’s personal income: a) Salary from an Employer. b) Rental (house property) income c) Capital gains (gain or losses made by the buying and selling of Shares and other capital assets)… Continue reading Overview of the Indian Tax System

Deciding What to Do with Your Tax Refund

Personal income taxes are due to be filed, in Canada, no later than April 30, 2012. This means it’s not only time to start making sure you’re ready to file, but it’s also time to think about what you’re going to do with your tax refund. Although many Canadians use their tax refund to travel… Continue reading Deciding What to Do with Your Tax Refund