Canadian investing in U.S. LLC, tax issues?

I am considering investing in a U.S. LLC to operate a hotel business. The mind and management of the LLC will be in Canada.

My understanding is the Canada-U.S. Tax Convention does not consider the U.S. LLC to be a %26quot;resident of a Contracting State.%26quot;

Two questions

1) As a business, would the U.S. tax me as a branch subject to branch taxes in the Internal Revenue Code?

2) My company would be a Canadian resident for tax purposes since there is no tie breaker rule under the treaty to help me (as there is with C Corporations). My company would then pay tax on its worldwide income. Is a foreign tax credit available for the branch tax I would have paid? My understanding is that the LLC has to pay the tax. The LLC is disregarded though, and I would be paying the tax in U.S.

Canadian investing in U.S. LLC, tax issues?

1)u.s. would tax ur business

but whn its time to pay tax ur business would include in it

2)yes

Do I have to file a state and federal tax return to file for the home heating credit? We had no inco

My husband and I are waiting for disibility and had no taxable income last year. We are from Michigan.

Do I have to file a state and federal tax return to file for the home heating credit? We had no income.?

Assuming you mean a tax credit, yes you will have to file. Check closely to see if you qualify--sometimes things get a bit tricky.

Service tax Calculation and Useful Sites for Service Tax Act & Rules?

How to calculate Service tax? How to get tax credit for service tax paid? Pl. specify some important sites to be useful for Service Tax Act %26amp; Rules?

Service tax Calculation and Useful Sites for Service Tax Act %26amp; Rules?

http://simpletaxindia.blogspot.com

Service tax Calculation and Useful Sites for Service Tax Act %26amp; Rules?

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Service tax Calculation and Useful Sites for Service Tax Act %26amp; Rules?

www.princetonacademymumbai.com

Service tax Calculation and Useful Sites for Service Tax Act %26amp; Rules?

Try the link below to know about taxation in India

http://www.firstappeal.com/view_forum.ph...

How does the tax stimlues plan?

hi, im 16 a depend. last summer i made $3100 and i am waiting for a $320 tax refend. How am i affected by the tax stimlues plan? will i get a free $300 check? or is it just $300 tax credit? what does that even mean?

How does the tax stimlues plan?

The IRS will determine eligibility and calculate tax rebate amounts based on 2007 tax returns.

Individuals will receive a notice in the mail with the amount they can expect to receive as well as a timetable for receipt.

Economic stimulus payments will be mailed out beginning in May 2008.

Individuals who paid tax in 2007 are eligible for maximum rebates of $600 per person ($1,200 if married, filing jointly) as well as $300 per qualifying child.

Individuals who didn閳ユ獩 owe tax in 2007, but filed a return only to report qualifying income of $3,000 or more can expect to receive a $300 rebate check (or $600 if married, filing jointly) plus $300 for each qualifying child.

Anyone who is expecting a rebate check, but moved since filing their tax return should update their mailing address on file with the IRS.

Can We get tax relief?

Me and my wife have been struggling with our finances and are in serious debts, which have arisen from pay the bloody tax man for thier pockets, we have been earning just over the threshold and were not entitled to any benefit coz we were working full time.

We like many other bottom line working couples are finding it very hard to pay so much taxes and yett o pay huge loan as well, yet some people can drain the system by not working a day in their life.

All I am asking is that, is there by any chance possible for us to get tax relief for a certain period so atleast we can get back on our feets and pay off our debts! whic h iare in excess of

鎷?30k.

we have been told that we are not entitled to tax credit either... even though we have an infant in the house...

If we are not then who is entitled to it on such a time!.....please can some one give me an answer, i will really appreciate it.

Can We get tax relief?

It sounds as though you have a real problem and you have my sympathy.

But you are asking the wrong question here. You cannot get any tax relief just to give you a breather and let you pay off your debts. And quite right too as this would amount to asking other taxpayers to subsidise your spending.

There are a number of areas to consider. First make sure that the tax deductions are correct. Do your code numbers give you the proper personal allowance and anything else to which you might be entitled?

Now the Tax Credits. I understood that something is payable unless the total household income exceeds 鎷?8,000. Are you receiving nothing because you are paying back a previous overpayment? If not, then use the calculator on the HMRC or entitledto website to find out why you recieve nothing.

I assume you earn too much to qualify for housing benefit but entitledto can check that out for you as well.

If you are definitely receiving everything to which you are entitled then you need to adress the budgeting situation. Why do you owe so much money? (Don%26#039;t post the answer here - just get it clear in your mind how much is due to unforeseen circumstances, such as a business failure, and how much is just spending more than you earn.)

Can you pay the minimum payments on your borrowings? If not, then you need to consider some form of debt management plan, either informal where you deal with it yourself or more formal such as an IVA or even bankruptcy. Go to The Motley Fool website and find the Dealing With Debt discussion board. There are experts who read those boards who can offer you unbiased advice.

If you don%26#039;t have any of your debt written off in this way then you need to -

earn more,

spend less, or

a combination of these.

The people at TMF will help with this also.

Good luck. I hope you sort yourself out.

Should I enter deductions in my income tax if I do not own taxes?

I just finish filling out my income taxes. The software says I have a credit of $2,747. Should I enter my deductions any way? Or should I save my time? Please help.

Remember I do not own taxes; I even have a tax credit.

Thank you.

Should I enter deductions in my income tax if I do not own taxes?

Chances are good you would need more than $10k of itemized deductions for it to be more than your standard deductions. If you already entered your standard deductions (marital status, dependents, etc.) Then don%26#039;t bother with Itemized deductions unless you accrued $20k+ worth of business-related expenses. (Mortgage or Rent associated with your business or line of work, or business supplies.)

Should I enter deductions in my income tax if I do not own taxes?

It depends. If the deductions would give you a larger refund, then by all means. If it won%26#039;t change the refund, then why bother?

Should I enter deductions in my income tax if I do not own taxes?

What?

Should I enter deductions in my income tax if I do not own taxes?

Here is the scoop. You may have an earned income credit coming. You may also have a refund coming from taxes paid. If you do not fill out your 1040 and send it in you will not receive the refund or credit. Lo siento, amigo.

Should I enter deductions in my income tax if I do not own taxes?

No tax the standard deduction. You should verifiy that you have taken all available credits, though, since it may increase your refund.

Should I enter deductions in my income tax if I do not own taxes?

Bottom line - YOU OVERPAID

Should I enter deductions in my income tax if I do not own taxes?

By entering your deductions you will most likely increase your credit. If you are using a program such as Turbo Tax, then it won%26#039;t take too much time and a few minutes could increase your credit by a few hundred dollars or more!

I have a child support question regarding tax deduction?

I would like to know why the government do not allow tax deduction or tax credit for those paying child support, But on the other hand gives a child tax credit to the custiodal parent? I think child support was just a way to correct a government policy that went wrong. You promises theses single mothers theses government programs and now that the government can not afford it, lets deduct the standard of living for some else. That is probably the reason we are continuing to have the pro-life versus the pro-choice debate, because some appointed officals decided on a social policy that was taken out of the democratic processes. Also, why is child support gender base? Why do a judge makes the assumption that it is in the best interest of the child to be with the mother, where was this research perform to give this basis? Also, where in the constitution that gives the government the right to throw you in jail if you can not pay a debt, that is not a tax? Just my opinion.

I have a child support question regarding tax deduction?

Child support isn%26#039;t gender based - there are many fathers with custody, and mothers paying child support.

Very early on, there was an assumption that the father should have custody, then for many years the mother had the advantage. Now it can go either way, and the decision is supposed to be made in the best interest of the child.

If you have a child, then you take on an obligation to support that child.

I have a child support question regarding tax deduction?

Check the IRS website and you will see a person must provide a certain percentage of someone%26#039;s income to be able to claim them. Child support based on the federal guideline falls WAY below the IRS criteria. Child support was established to do what a lot of parent failed to do and that was to provide adequate financial support based on income. You may want to stop by your local family court or child support office and obtain literature regarding child support to improve your understanding of the child support issue. Child support is NOT gender based.

I have a child support question regarding tax deduction?

Child support is NOT gender based. Child support is paid by the non-custodial parent to the custodial parent. There are plenty of cases where fathers have custody of their children.

You%26#039;re mistaken if you think it%26#039;s up to the government to support these kids. It%26#039;s up to the PARENTS to support thier children. When the family was intact, there were no tax deductions for the amount spent on the kids, why should there be once the family has disolved? Child tax credits are to be claimed by the person with the LESSER income - which is usually the custodial parent.. None of the tax laws have anything to do with gender - they have to do with net income.

I have a child support question regarding tax deduction?

The one who earned the money pays the taxes. If the IRS made an exception and allowed the payor a deduction, then the recipient would have to include those payments as taxable income, similar to alimony.

The rest of your information and opinions belong on a blog, not here in Y!Answers.

I have a child support question regarding tax deduction?

The pendulum has swung in the opposite direction...let me explain.

Prior to 1984, the law was that if the noncustodial parent provided $600 child support in one year to the child, and the custodial parent could not prove that she (or he) had provided over half of the child%26#039;s support, then the noncustodial parent could claim the child. The assumption was that a noncustodial parent paying $50 a month was assumed to support the child.

The law changed in 1984, and the assumption was that the custodial parent supported the child. Of course, this isn%26#039;t any more true than the assumption that the noncustodial parent supports the child.

In 2005, the law was changed again, and a child can be claimed by the custodial parent as long as the child himself did not support himself. There is no requirement that a taxpayer support the child to claim the child as a dependent (qualifying child). The main requirements are that the child be closely related to the taxpayer and live with the taxpayer.

So, it has gotten very strange, and perhaps was always strange.

Taxes aside, we are obligated to support our children whether they live with us or not, and whether there is any tax break for the parent or not.

As others have stated, the current law is not gender based in the least. Prior to 1984, the law was biased in favor of the noncustodial parent, which at that time was almost always the father.

If a noncustodial parent is paying child support, he or she can negotiate a legal agreement approved by the court with the custodial parent that the noncustodial parent can claim the child.

But there is currently no automatic tax benefit for a noncustodial parent who pays child support.