Personal Financial Strategy for NRIs in the USA!
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 […]