Personal Financial Strategy for NRIs in the USA!
H-1B visa holders are allowed to earn money from other sources in addition to their primary employment, but there are certain restrictions and requirements that must be met: It’s important to keep in mind that laws and regulations regarding H1B visa can change, so it’s always a good idea to consult with an immigration lawyer […]
H-1B visa holders are allowed to work for multiple employers in the United States, but there are certain restrictions and requirements that must be met. It’s important to keep in mind that laws and regulations regarding H1B visa can change, so it’s always a good idea to consult with an immigration lawyer or a legal […]
Receiving money as a gift from other countries is a common way to transfer funds, here are a few steps to follow when receiving gifted money from other countries: It is important to keep in mind that laws and regulations regarding gift and money transfer can vary by country, so it is best
Inheritance taxes in the United States are taxes imposed on the transfer of property from a deceased person to their heirs. Inheritance taxes are also known as estate taxes. In the United States, inheritance taxes are imposed by some states and at the federal level. However, the federal estate tax has a high exemption amount, […]
Gifts brought into the United States from other countries are subject to U.S. customs laws and taxes. Here’s a general overview of the tax treatment for gifts brought into the U.S from other countries: It’s important to keep in mind that laws and regulations regarding gifts and taxes can change and it’s always a good […]
Bringing money from other countries into the U.S. is legal, but there are certain regulations and reporting requirements that must be followed. Here are a few steps to follow when bringing money from other countries into the U.S: It is important to note that laws and regulations regarding the import and export of currency can […]
529 plans are a popular way to save for college expenses, however, they do have some disadvantages to consider: Another major disadvantage of 529 plan is that it is considered as an asset in FAFSA application which increases the Epected Family contribution (EFC) thus reducing the financial aid. It’s important to research different college savings […]
Claiming a life insurance death benefit from outside the country can be more complex than claiming within the country. However, the basic process is similar. Here are some additional steps to keep in mind when claiming a life insurance death benefit from outside the country: It’s important to keep in mind that each insurance company […]
Claiming a life insurance death benefit can be a difficult process, especially during a time of grief. However, it is important to know the steps to take in order to claim the death benefit and ensure that the process goes as smoothly as possible. Here are the general steps to follow when claiming a life […]
End of the Tax Year and it is important to initiate the process of issuing 1099s by accounting for all non-employee compensation and misc. expenses paid. If you are paying any individual more than $600 , you would need to issue a 1099 by end of January 31st. What are the most common payments that require a 1099 to […]