Cross-border tax & compliance insights

A US expat’s guide for filing taxesA Tax Guide for US Citizens Living Abroad No matter where you live, Algeria or Zimbabwe, if you are a US citizen or a Green Card holder, US taxes will always be by your side (Best love story ever?). If you are a US citizen and you earn a personal income while living anywhere but […]News · Mar 7, 2022Read the article What is the difference between standard deductions and itemized deductions?Before we get into the nitty-gritty of standard deduction or itemized deductions, let us look at the concept of adjusted gross income or AGI on which the IRS bases your tax liability.  The calculation starts with your gross income which is the sum of all your earnings during the tax year.  Your gross income would […]News · Mar 1, 2022Read the article How to report Child and Dependent Care Expenses for the Tax year 2021Businesses are allowed to deduct the expenses they incur for earning their business income on which they pay taxes.  On the same lines, in 1976, the Child and Dependent Care Tax Credit (CDCTC) was established to allow working parents to offset the costs they incur for taking care of their child or dependent.  A tax […]News · Mar 1, 2022Read the article How to report cryptocurrency when filing your taxesThe number of people holding cryptocurrencies and NFTs hits new heights every day. More people got into crypto in the last year than they ever did. In 2021, there were said to be 300 million crypto users worldwide, with 18,000 businesses accepting payments in crypto. 8.31% of the US population holds assets in crypto. That […]News · Mar 1, 2022Read the article A Quick Guide To Tax Refunds – Why File For Returns After All?If you want an excuse to celebrate apart from the holiday season, the tax season gives you one as well. Tax Refunds! Yes, the tax season can be stressful, but it can also be rewarding. What are tax refunds? Let’s say you paid an excess amount to the IRS as tax. The reimbursement of that […]News · Feb 15, 2022Read the article Year-End Tips to Reduce Your Tax BillCome Christmas or summertime and all are planning a vacation with family and friends; where to go, how much to budget for food and entertainment, checking out when the cheapest flights are, and so on. When a vacation, which lasts for a short duration, can get so much attention and minute planning, then shouldn’t taxes […]News · Feb 15, 2022Read the article The new buzzword- Metaverse!The origin story It all happens in waves – the Pandemic, the Industrial Revolution, the Evolution of the World Wide Web. The Web first started evolving in the year 1989. It was still Web 1.0 back then. It was used mostly by companies and corporations, and only experts knew how to actually work with it. […]News · Feb 14, 2022Read the article TAX TIPS FOR NEWLY MARRIED COUPLESJust got hitched? Here’s some Tax Stuff for you While choosing a wedding day, the Irish are believed to follow this dictum: “Monday for wealth, Tuesday for health, Wednesday the best day of all, Thursday for losses, Friday for crosses, and Saturday no luck at all.”  For the purpose of your taxes, the IRS is […]News · Feb 14, 2022Read the article Union Budget 2022’s take on Cryptocurrency – New tax and new beginningsThe Budget goes Digital in 2022 There is one thing that the Indian working-class and business-class look forward to every year – The Budget. But the impending regulations on cryptocurrency have grasped the attention of the young and tech-savvy as well. With the immense rise of these digital currencies and assets, as well as their […]News · Feb 4, 2022Read the article Federal Reserve considering CBDC in the face of Crypto BoomThe Potential Birth of CBDC The relationship between traditional players in the financial system, such as retail banks and central banks, and the emerging digital giants peddling crypto, has been complicated, to say the least. Crypto has been praised, condemned, considered, and adopted at different points in time by different traditional institutions, the result being […]News · Feb 4, 2022Read the article Capital Gains – a big push for HNIs, Angel Investors and Investment Bankers #2022 budgetAs of date depending on the asset class, Long Term Capital Gains carry a tax rate between 10-20 percent. This is further increased by an education cess of four percent and a surcharge up to 37 percent. The current tax laws provide a relief for listed equity shares (11.96 percent) where the effective tax rate […]News · Feb 4, 2022Read the article Did you know that claiming Premium Tax Credit will require you to file taxes?What is the Premium Tax Credit? The premium tax credit – also known as PTC – is a refundable credit that helps you pay the premium for yourself and your family’s health insurance purchased through the Health Insurance Marketplace. The tax credit formed a part of the Affordable Care Act tax provisions, introduced in 2014, […]News · Jan 31, 2022Read the article Guide to Child Tax Credit and Advance Child Tax Credit Payments for 2021Emphasis on Child Tax Credit It was the spring of 2021. COVID and its repercussions did not seem to be shrinking as much as everyone hoped it would. Vaccinations were happening in full swing, but the economy was still only crawling along. There was no one that was not being affected by the virus either […]News · Jan 31, 2022Read the article Investor Guide to NFTs and its Tax ImplicationsGetting started with NFT investments NFTs or Non-Fungible Tokens are all the rage today, as evidenced by their popularity within the modern trend currents sweeping through the digital ocean. According to the author, speaker, and social entrepreneur Gary Vaynerchuk, NFTs are the “holy grail for humans, it’s just that we’re fortunate humans that are here […]News · Jan 28, 2022Read the article The ICO chapter of the Cryptocurrency book – upcoming ICOs and what to expectThe current state of cryptocurrency The cryptocurrency was Bitcoin and Bitcoin was cryptocurrency. It was the pioneer that was grabbing eyeballs. It came about as an alternative to the USD to enhance easier exchange across the borders. But, this was in the early 2010s. That’s not the case anymore. Transparency and decentralization are becoming the […]News · Jan 27, 2022Read the article