Personal Financial Strategy for NRIs in the USA!
On the path to financial freedom, how you store your money matters just as much as how you earn it. The U.S. tax system categorizes your savings into three distinct “buckets”—each with its own tax treatment. Understanding these buckets helps you build a flexible, tax-efficient retirement strategy. For NRIs, this framework is especially useful when […]
Tax brackets are one of the most misunderstood yet foundational concepts in U.S. financial planning. Whether you’re earning a salary, running a business, or managing cross-border income, understanding how your income is taxed is essential for making informed decisions, especially for NRIs balancing U.S. obligations with global assets. What Are Tax Brackets? The U.S. tax […]
If the kids are born here in the USA, they are citizens of the USA. Thus, they are eligible for submitting a FAFSA application and they may potentially eligible for College Financial Aid based on the FAFSA calculations for Expected Family Contribution. If the kids are dependents of H1 visa holders, they will have H4 […]
As an NRI, choosing whether to invest in a 529 plan comes with a horde of questions: What is the impact on potential scholarships? What happens if they move back to India? What are the tax implications? Read on to answer your most pressing questions about 529 Plans for NRIs.
Non-Resident Indians (NRIs) are part of the highest-earning ethnicity in America. Most NRI families are worried about kids’ college education and save much of their household income for their children’s college education during their prime years of earning. Additionally, since the income range of NRIs is higher, we often believe that it’s impossible to get […]
Now that you’ve mastered how to save taxes, it’s time to expand your ideas. In this article, we will explain why hiring one or more family members to work in your business could be a smart move to save money. That could help your business and your family deliver favorable tax results to both the […]
Starting a business has many inherent costs. This article is about comparing creating a new business versus buying a new business/expanding your current business. The tax code states that start-up expenses arise when you spend money to: investigate the creation or acquisition of an active business, create an active business, or engage in a for-profit […]
S corporations are corporations that elect to pass corporate income, losses, deductions, and credits directly through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double […]
With the world in lockdown due to COVID-19, you and your partners may be doing a lot of work from home or even working from home primarily. Is your home-office deduction into your financial mix? If you operate your business as a partnership, you have two ways to correctly deduct your home-office expenses.If you have a […]
Limited liability companies (LLCs) are a popular choice of entity for small businesses and investment activities. LLC owners are called members. Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can receive treatment as a single-member LLC for federal income tax purposes. LLCs with two or more […]