Short note on filing an amended tax return

Short note on filing an amended tax return  Filing an Amended Tax Return corrects information that changes Tax calculations and may result in additional refund / reduced tax liability. This includes making changes to filing status and dependents or correcting income credits or deductions.

2018-12-17T12:59:20+00:00 December 17, 2018|Taxtips|0 Comments

Do you choosing the right structure for your business?

Do you choose the right structure for your business? How your business is structured can have a significant impact on the taxes that you pay. For example LLC’s, S-corporations are Pass-through entities which means your profit will be taxed at the ordinary tax rate, while shareholders of C Corp are taxed at corporate tax rate [...]

2018-12-17T12:53:50+00:00 December 17, 2018|Taxtips|0 Comments

How to account for your Indian investments while filing for US taxes?

How to account for your Indian investments while filing for US taxes? The sole intent of investments is to increase your net capital over a period of time. With the advent of newer methods, individuals now have more avenues to invest their money and their money works harder. However, amidst all this one must not [...]

2018-12-07T21:19:02+00:00 November 29, 2018|Investment & Income, Tax Planning|0 Comments

Tax implications for your Indian Properties

Tax implications for your Indian Properties The real estate market has always been one of the most lucrative ones for investment. This applies to residents of India as well as non-resident Indians. However, there is a small aspect that not many are aware of or pay a lot of importance to, taxation. If you are [...]

Can an NRI continue his PPF?

Can an NRI continue his PPF?  One of the most common forms of investments for Indians is PPF. It is secured, and you know the exact returns on its maturity. Its long-term perspective also works well with a lot of investors. PPF is majorly risk-free and is tax-free as well, which attracts a lot of [...]

All you need to know about PFIC reporting – Form 8621

All you need to know about PFIC reporting - Form 8621 For any US resident paying taxes and keeping a track of the same is as important a duty as any other. Being on the top of your taxes will not you to plan and sort things out well in advance. On the other hand, [...]

2018-11-29T14:37:38+00:00 November 29, 2018|Blog, Tax Planning, Tax Preparation|0 Comments

All you need to know about Capital Gains taxation and DTAA for your Indian and US investments

All you need to know about Capital Gains taxation and DTAA for your Indian and US investments To ensure that residents do not end up paying taxes at two different places, several countries get into a mutual agreement. The Double Taxation Avoidance Agreement is one such example. The United States of America and India have [...]

2018-11-29T14:06:43+00:00 November 29, 2018|Blog, Investment & Income, Tax Planning|0 Comments

All you need to know about Bank FATCA reporting as a US tax payer

All you need to know about Bank FATCA reporting as a US taxpayer It should not come as a surprise that the US Government looks into a wider array of things for expats and not just the taxation. FATCA is one such avenue. There are a lot of rumours and misinformation surrounding FATCA, so let’s [...]

2018-11-27T15:48:38+00:00 November 27, 2018|Audits, Blog, Investment & Income|0 Comments

How to account for the NRE and NRO interest and FD while filing for your US taxes

How to account for the NRE and NRO interest and FD while filing for your US taxes? According to the data available with the Indian Ministry, India ranks second among all countries for citizens who have temporarily or permanently shifted to other countries. The number stands at a staggering 25 million across some of the [...]

2018-11-26T19:23:39+00:00 November 26, 2018|Blog, Investment & Income|0 Comments

How is an NRI’s India ESOP’s taxed in the USA?

How is an NRI’s India ESOP’s taxed in the USA? ESOP’s or Employee Stock Option Plans have always been quite popular. Since you work for an organization, you would know the in and out of it. And the ESOP programs let you benefit from the same. You can own your company shares without even any [...]

2018-11-22T16:45:51+00:00 November 22, 2018|Investment & Income|0 Comments