Kresnier Perez

A company’s balance sheet provides a financial snapshot at a specific date, listing assets, liabilities, and shareholders’ equity. Apple Inc.’s balance sheet documents the financial position of one of the world’s largest technology companies by market capitalization. Investors, financial analysts, and industry observers examine these statements to assess the company’s financial management and evaluate investment […]

The tax code is a complex framework of laws and regulations that govern how individuals and businesses are taxed in the United States. It is primarily established by the Internal Revenue Service (IRS) and is subject to frequent changes, making it essential for taxpayers to stay informed about current laws. The tax code encompasses various

Alimony, also known as spousal support or maintenance, is a court-ordered financial payment that one spouse makes to another following divorce or legal separation. The tax treatment of alimony payments has undergone significant changes in recent years, creating important implications for both paying and receiving spouses. Prior to 2019, alimony operated under a tax framework

PAYE, which stands for “Pay As You Earn,” is a system of income tax withholding that is primarily used in the United Kingdom and several other countries. Under this system, employers are responsible for deducting income tax from their employees’ wages before they are paid. This means that employees receive their net pay after taxes

Payroll taxes constitute a fundamental element of the United States tax system and represent the primary funding mechanism for several federal social insurance programs. These taxes are imposed on both employees and employers and are calculated as fixed percentages of employee wages and salaries. The two principal payroll taxes are the Social Security tax and

Tally 9.0 is a comprehensive accounting software solution widely adopted by businesses of various sizes, particularly in India. Released as an upgrade to Tally 7.2, this version introduced numerous features that enhance user experience and streamline financial management. The software is characterized by its intuitive interface, making it accessible to users with minimal accounting expertise.

Claiming dependents on your tax return reduces your tax liability through several mechanisms established by the Internal Revenue Service (IRS). Taxpayers who qualify to claim dependents receive specific deductions and credits that lower their taxable income and overall tax burden. The primary benefits include access to tax credits such as the Child Tax Credit, which

Section 80TTB of the Income Tax Act, 1961, provides tax deductions for senior citizens aged 60 years and above on interest income. This provision allows eligible individuals to claim a deduction of up to ₹50,000 annually on interest earned from specified financial instruments. The deduction applies to interest income from savings bank accounts, fixed deposits,