Tax law comprises the laws and regulations applicable to taxation. Income tax and property tax are the two most popular types of taxation that are imposed on the citizens. If a person is dissatisfied with the taxes imposed on him, he can always appeal before the appropriate authority. If he is not pleased with the findings of this authority, he can always take a legal recourse before the appellate courts. International tax treaties and international aspects of domestic tax laws usually come under the purview of International taxation. International tax consultants and accountants who are specialized in this field are appointed by multinational companies in order to reduce their worldwide tax liabilities.
Direct Tax : The term direct tax has more than one meaning. Certain taxes may be direct taxes in the colloquial sense but indirect taxes in the constitutional sense. A direct tax is one paid directly to the government by the persons. The most common examples being income taxes, corporate taxes, and transfer taxes such as inheritance tax and gift tax.
Us Taxation : In the US there are two sets of taxation. One is for residents of foreign countries within the United States and the other is for U.S. residents and citizens outside the United States. In the US, the residents and U.S. corporations are taxed on their worldwide income annually whether or not they are at present US residents or not In the United States, the term "direct tax" has a different meaning
Property Tax : Property tax is also known as Capital Gains Tax. Although different countries have different laws framed under property tax, the one thing that is common is if you sell of a house, you have to invest its proceeds for the purchase of another house within a maximum period of 3 years or else a huge amount of tax has to be paid to the Government. In the US, law allows you to exclude up to $250,000 of the gain from taxable income if you're single and $500,000 if you're married.
Tax And Alimony : Alimony is a part of your taxable income. The one who pays alimony gets a tax deduction but since child maintenance is non taxable, it is not tax-deductible as well.
Tax Planning : Tax planning means the planning the taxes ahead of time so that taxes are reduced or done away with. Either tax can be paid annually or a person who is in service can deduct a certain portion of the total tax chargeable, monthly from his salary.