Controlled Group R&D Credit When multiple related companies operate under common ownership, the IRS requires them to aggregate their Qualified Research Expenses (QREs) to determine a single R&D Tax...
Annualize Gross Receipts Businesses that operate for less than 12 months in a tax year — due to incorporation, merger, dissolution, or change in accounting period — must annualize...
Qualified Research Expenses When claiming the R&D Tax Credit under IRC §41, identifying and classifying Qualified Research Expenses (QREs) correctly is the foundation of a compliant and defensible credit...
If you recently moved to the U.S. from India in 2025, you may not be considered a full-year tax resident. That means you’ll likely need to file a dual-status...
Many Indian-American taxpayers are confused about how to handle money gifts from their parents in India. Is it taxable? Does it need to be reported? Will the IRS audit...
Many Indian-Americans and NRIs living in the U.S. are unaware that failing to disclose Indian bank accounts, mutual funds, or property rental income can trigger steep IRS penalties. The...
Thinking of hiring your cousin in India to help with your U.S. business? Or outsourcing to a relative overseas? You’re not alone-many Indian-American entrepreneurs want to involve trusted family...
Form 5471 & GILTI Rules for U.S. Shareholders If you’re a U.S. person (citizen or green card holder) holding shares in an Indian private limited company (Pvt Ltd), you...
Indian mutual funds may feel safe and familiar to investors, but for U.S. taxpayers, they’re a PFIC landmine. Thousands of Indian-Americans investing in ICICI, HDFC, SBI, or Nippon funds...
Why This Blog Matters Every year, thousands of Indian-Americans receive foreign gifts from parents or relatives in India. It might be a $100K wire transfer, property inheritance, or simply...