U.S.-India Tax Planning: Key Issues, Tax Treaties, FATCA/FBAR Reporting, Passive Income, and Pitfalls to Avoid
A live 90-minute premium CLE/CPE video webinar with interactive Q&A
This CLE/CPE webinar will provide tax counsel and advisers with a thorough and practical guide to the tax reporting requirements and planning opportunities for U.S. taxpayers with earnings or assets in India, as well as Indian citizens with U.S. tax reporting obligations. The panel will discuss U.S. tax law and treaty provisions designed to avoid or mitigate double taxation, residency and expatriation rules, foreign tax credits, and reporting obligations for those filing returns in both countries.
Outline
- Identifying taxpayers with filing obligations in the U.S. and India
- Domicile and residency rules
- Passive and unearned income treatment
- Forms ITR: categories of income and deductions
- U.S. taxation of investment and retirement accounts
- Foreign tax credit
- FATCA and FBAR reporting
- Inheritance taxes
Benefits
The panel will review these and other key issues:
- Filing obligations in the U.S. and India for certain taxpayers
- India's Forms ITR
- Taxable income, reportable accounts, and FBAR/FATCA filings
- U.S. reporting requirements of India-sourced investments
- Foreign tax credit considering the fiscal year ITR
- Key risks and challenges of passive/unearned income in cross-border situations
- U.S. reporting requirements of India-sourced investments
Faculty
Darko Naumoski, CPA
Principal
WilkinGuttenplan CPAs & Advisors
Mr. Naumoski, joined the firm in 2017, specializes in international taxation and planning strategies.... | Read More
Mr. Naumoski, joined the firm in 2017, specializes in international taxation and planning strategies. Darko’s tax practice is consumed by international tax matters including U.S. tax aspects of international business such as foreign businesses doing work in the U.S. and U.S. businesses doing work abroad. He assists mid-market multinational clients to create and implement tax structures to minimize worldwide tax which are operationally practical. For foreign-based businesses, Darko and his team are often the first point of contact to steer clients through the different hurdles of doing business in the US giving these clients peace of mind that their businesses are tax compliant in the U.S.
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Vinay Navani, CPA, CGMA, MBA, MS
Shareholder
WilkinGuttenplan
Mr. Navani, a Shareholder at WilkinGuttenplan, joined the firm in 1998. His client roster includes emerging and... | Read More
Mr. Navani, a Shareholder at WilkinGuttenplan, joined the firm in 1998. His client roster includes emerging and established businesses in the life sciences, software, manufacturing industries, and other closely held businesses and business owners. Mr. Navani provides income tax planning assistance focusing on a business’s “formation to exit” life cycle. The “formation to exit” includes capitalization, choice of entity, retirement planning, charitable giving strategies, coordination with tax examinations, business sales, and post-sale planning for the business owners. He devotes much of his practice to international tax matters, including U.S. tax aspects of international business, such as foreign businesses doing work in the U.S., U.S. businesses doing work abroad, transfer pricing, and cross-border mergers and acquisitions.
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Parag P. Patel, Esq.
Attorney
Patel Law Offices
Mr. Patel’s practice concentrates on tax, international tax planning, estate planning, and elder law. His focus... | Read More
Mr. Patel’s practice concentrates on tax, international tax planning, estate planning, and elder law. His focus is on all tax matters including international tax law, foreign bank account disclosures, tax audit defense, and tax appeals. He has advocated over one hundred voluntary tax disclosures for assets before the US Internal Revenue Service. He is a frequent speaker and writer on legal issues affecting tax, foreign account planning, and estate planning.
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Jaydeep Sanghani, CPA
Founder
Walkthrough
Mr. Sanghani is a CPA, a Chartered Accountant (India) and a Commerce Graduate from the University of Mumbai. He is... | Read More
Mr. Sanghani is a CPA, a Chartered Accountant (India) and a Commerce Graduate from the University of Mumbai. He is the founder of Walkthrough, an India-based outsourcing firm specializing in US Taxation. Mr. Sanghani has extensive expertise in US International Taxation and Cross-Border Compliance and Reporting. He has been collaborating with CPAs, Attorney's and Other Tax Professionals in the US to assist and support them in their advisory, review, compliance or reporting responsibilities in the US. In the Indian context, Mr. Sanghani is a Partner at G T S & Co., Chartered Accountants and leads the firm's international tax practice with focus on cross border structuring, transfer pricing, and Foreign Exchange Management Act (FEMA) compliance.
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Cannot Attend December 16?
Early Discount (through 11/22/24)
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include course handouts.