Blog | Page 10 of 489 | Ourtaxpartner.com

1120S vs 1065: Which One Is Right for Your Small Business?

June 15, 2025June 15, 2025 Artificial Intelligence Generated Content Leave a comment

Choosing the right business entity and the corresponding tax filing structure can significantly impact your small business's financial future. Two of the most commonly chosen business tax return forms in the U.S. are Form 1120S for S Corporations and Form...

What Is Sales Tax and How Does It Work in the U.S.?

June 14, 2025June 14, 2025 PEAK bcs Leave a comment

Sales tax is a consumption tax imposed by state and local governments in the United States on the sale of goods and certain services. It is typically calculated as a percentage of the retail price and is collected by the...

10 Reasons to Partner with PEAK BCS for Sales Tax and Federal Return Prep

June 14, 2025June 14, 2025 PEAK bcs Leave a comment

In today’s fast-paced tax environment, U.S.-based CPA firms face mounting pressure to meet deadlines, stay compliant with evolving tax codes, and manage growing client demands. This is where outsourcing becomes not just an option, but a strategic advantage. PEAK Business...

Will Personal Income Tax Come Next in the UAE?

June 13, 2025June 13, 2025 Artificial Intelligence Generated Content Leave a comment

The United Arab Emirates (UAE) has long been known as a tax haven — a country where individuals and businesses have enjoyed a nearly tax-free environment for decades. However, with the introduction of Value Added Tax (VAT) in 2018 and...

Who Needs to Register for VAT in the UAE? Thresholds and Rules

June 13, 2025June 13, 2025 Artificial Intelligence Generated Content Leave a comment

Value Added Tax (VAT) was introduced in the United Arab Emirates (UAE) on January 1, 2018, at a standard rate of 5%. Since its implementation, VAT compliance has become a fundamental requirement for businesses operating in the UAE. Whether you're...

Who Is Subject to Corporate Tax in the UAE? Mainland, Free Zone, and Offshore Explained

June 13, 2025June 13, 2025 Artificial Intelligence Generated Content Leave a comment

With the introduction of the UAE’s Federal Corporate Tax regime, effective from June 1, 2023, the country has entered a new era of fiscal responsibility. While the UAE historically offered a tax-free environment, the move to introduce a corporate tax...

Which Expenses Are Eligible for Input Tax Credit in the UAE?

June 13, 2025June 13, 2025 Artificial Intelligence Generated Content Leave a comment

Since the implementation of Value Added Tax (VAT) in the United Arab Emirates on January 1, 2018, businesses have been allowed to recover the VAT paid on eligible business expenses through a mechanism known as Input Tax Credit (ITC). Understanding...

When Does the 5% Standard VAT Rate Apply in the UAE?

June 13, 2025June 13, 2025 Artificial Intelligence Generated Content Leave a comment

The United Arab Emirates (UAE) introduced Value Added Tax (VAT) at a standard rate of 5% on January 1, 2018, marking a significant shift in the country’s tax landscape. The move was part of a broader initiative by the GCC...

When Are VAT Refunds Applicable for Tourists in the UAE?

June 13, 2025June 13, 2025 Artificial Intelligence Generated Content Leave a comment

The United Arab Emirates (UAE) introduced Value Added Tax (VAT) at a rate of 5% on January 1, 2018. While residents and businesses have adapted to this tax regime, the UAE has also taken measures to remain a global tourism...

What to Expect During a Corporate Tax Audit in the UAE

June 13, 2025June 13, 2025 Artificial Intelligence Generated Content Leave a comment

With the introduction of the UAE Corporate Tax regime effective from June 1, 2023, businesses operating within the UAE are expected to maintain accurate records, comply with reporting requirements, and submit timely tax returns. As part of ensuring compliance, the...