Amit K. Dey

Jan 19, 2025 | thestockdork.com | Amit K. Dey

Campaign donations play a crucial role in supporting political candidates and causes. Many individuals contribute to candidates, political parties, or political action committees (PACs) with the hope of influencing the political landscape. However, a common question among donors is whether these contributions can be used to reduce their tax liabilities. Understanding the tax rules surrounding campaign donations is important for anyone making political contributions.

Jan 19, 2025 | thestockdork.com | Amit K. Dey

Canada is known for its inclusive immigration policies, which cater to people from all parts of the world. Senior citizens are no exception. Table of Contents show Many seniors seek to immigrate to Canada for reasons such as family reunification, better healthcare, or an improved quality of life.

Jan 19, 2025 | thestockdork.com | Amit K. Dey

Understanding bona fide residence is crucial for U.S. citizens or residents who live abroad. The term has significant implications, particularly when it comes to tax benefits. If you’re an expatriate or considering living abroad, it’s important to know how bona fide residence status can affect your financial situation. This article explores what bona fide residence means, how to qualify for it, and the benefits it provides. What Is Bona Fide Residence?

Jan 15, 2025 | thestockdork.com | Amit K. Dey

US citizens who own property in other countries must comply with the tax obligations that apply to their worldwide assets. This includes reporting property held in Australia. Whether it’s a rental property, a vacation home, or property that generates income in any form, US citizens are generally required to report such assets to the IRS. Understanding these reporting requirements is crucial to avoid penalties and remain in good standing with US tax authorities.

Jan 15, 2025 | thestockdork.com | Amit K. Dey

If you earn income from abroad and live in the UK, understanding how foreign income is taxed is crucial. The UK taxes residents on their worldwide income, but there are some exceptions and exemptions. Table of Contents show This article explains how much foreign income is tax free in the UK, the rules around different types of foreign income, and how to avoid paying double tax. What is Foreign Income? Foreign income refers to any earnings or profits you receive from sources outside the UK.