Monthly Archives: July 2011

What is Income?

IRC § 61 states all income from whatever source derived is taxable, unless specifically excluded by another Code section. IRC stands for Internal Revenue Code.  If you ever tried to read it, you’ll know why they call it code!   § is … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Retirement Accounts, Sub S Corporations | 529 Comments

STATES with NO INDIVIDUAL INCOME TAX

Alaska Florida Nevada South Dakota Texas Washington Wyoming Tennessee and New Hampshire tax only dividend & interest income.

Posted in General, Income Tax, International Taxation, Retirement Accounts | 12 Comments

2011 Mileage Rates

Purpose    Rates 1/1 through 6/30/11    Rates 7/1 through 12/31/11  Business 51 55.5   Medical/Moving     19 23.5 Charitable 14 14

Posted in General, Income Tax, International Taxation, LLC's, Sub S Corporations | 1,112 Comments