Border Adjustment Tax – Explained

What is a Border Adjustment Tax?Border adjustment tax is a value-added tax charged on imported goods while exported goods are exempted. This tax can also be referred to as a border-adjusted tax, destination tax or border tax adjustment. This tax is also known as a...

Ordinary Income – Explained

What is Ordinary Income?An ordinary income is a pretax income earned by individuals and organizations which is taxable using ordinary rates. Examples of ordinary income are salaries, wages, interests earned on bonds, tips, commissions and other forms of income...