The Federal Tax Credits Blog

Posts Tagged ‘dividends’

Mercantile Bank Corporation Reports 2010 Fourth Quarter and Year-End Results

GRAND RAPIDS, Mich. — Mercantile Bank Corporation reported a 2010 fourth quarter net loss attributable to common shares of $5.3 million, or per diluted common share, compared to a net loss of $36.4 million, or per diluted common share, for the year-ago quarter.

Question: how do I calculate foreign tax credit on dividend withholding?

I receive a divident of $100 from a canadian trust, of which
$30 was withheld by Canada. How do I calculate the US
tax, using the foreign tax credit?

Answer: You need to refer to Federal Tax Law Sec. 12.10.09 Code 5.1

The Way To Get Back Into The Market When You’re Gun Shy

Divide your portfolio into goal-based, liquidity and catastrophe buckets.

How to Pay Zero Taxes, 2008 $1.99 Make 2008 the year you pay zero taxes!. . Fully updated to include all the latest tax law changes, How to Pay Zero Taxes outlines the easiest, most practical strategies you can use to lower your taxes this year, next year, and beyond. From converting personal expenses into business expenses to avoiding or surviving an IRS audit, Jeff Schnepper’s guide comprehensively covers more deductions than …

The Bush Tax Cuts and the Economy – CRS Report $0.99 A series of tax cuts were enacted early in the George W. Bush Administration by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA; P.L. 107-16) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA; P.L. 108-27). These tax cuts, which are collectively known as the Bush tax cuts, are scheduled to expire at the end of 2010. Beginning in 2011, many of the individua…

CFC buyer’s sec. 338 election deprives seller of FTCs.(controlled foreign corporations; foreign tax credits): An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on July 1, 2001. The length of the article is 1491 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle:…

How To Survive The Financial Economic Crisis- Urban Survival

Question: Help on UK dividends tax credit?

I’ve been running my own limited company and have recently filed my accounts with companies house and IR with success (I prepared them myself).

My Company paid me dividends over the year, but now the company needs to issue me a dividend voucher. I’m trying to work out the tax credit etc.

When the company paid me the dividends, it never deducted tax from the payments.

Lets say after Profit after tax, the company has paid me in total £20,000 dividends. This would be the amount received which should be 90% of the dividend income.

Therefore the tax credit would be £2,222.22 and the total div income would be £22,222.22. Is this right even though when the company made the dividend payments it didn’t deduct any tax from the dividends?

Any urgent guidance is much appreciated.

Thanks

Answer: Your understanding is exactly right.

Corus chief calls for spending

THE chief executive of Corus yesterday called on the UK to draw up a “real industrial policy” to make the country more attractive for manufacturers.

Tracing the Causes of Today’s Market Upheaval