Author
Naman Gangwal
Co-Founder · CA, CPA
128 articles by Naman Gangwal, newest first.
About the author
05
Articles by Naman Gangwal
Who am I? – A Guide to ITIN for US Non-Resident AliensThe Question of Tax Payer Identity Identity can definitely be categorized as one of the buzzwords of the last decade. Our obsession with identity pervades everything, from entertainment to politics and economics. The rise of the modern feminist movement, the proliferation of new and never-before-seen gender identities, the emergence of new biometric scan […]Read the article Understanding the Perception of PFICs and CFCs in the Eyes of the IRSThe Age-Old Problem of Tax Evasion What comes to your mind when you think of the word “tax haven”? The phrase might conjure up images of tropical islands, James Bond-style action and romance, shady business dealings under palm trees, and unimaginable amounts of capital that somehow escaped the otherwise vigilant eyes of the […]Read the article How are your returns on investments, as an alien in the US, taxed?Overseas Investments for US Aliens It is said that the grass is always greener on the other side. But what if we told you that the grass is greener where you water it and water it correctly? Make sense? No? The past few years have seen exponential growth in financial awareness due to […]Read the article Which is more suitable for your business needs – Corporation or LLC?The Age of Indian-American businesses While VP Kamala Harris is making her mark in the political realm, Parag Agrawal has made it to the news as Twitter’s new CEO. The bottom line here is – Indians are making and breaking waves in the US. President Joe Biden himself has recognized the contribution that […]Read the article Want to get credit on taxes paid? Let’s explore Article 25 of the DTAAThe Double Whammy! Money Heist on Netflix is all the rage these days especially since its finale has aired. For those who are not aware, it’s about a group of robbers who take over mints and banks and try to escape conviction. Can a person who has committed a crime to be convicted […]Read the article Understanding the Tax Year: India vs. USAWhat is the Tax Year The first time we heard the word ‘year’ was probably when someone wished us a Happy New Year. Over a period of time, we came to know and understand such other phrases as a calendar year, leap year, academic year, etc. Later, as we grew older, these changed […]Read the article EB-5 visa – The Golden ticket that takes you to the USUnderstanding the EB-5 Visa Celebrities like Farah Khan, Trisha, and KS Chitra have recently been given the Golden Visa for UAE. A Golden Visa is considered just as precious as it sounds. It is an ‘immigrant investor program’ wherein an individual can obtain resident status in a country by making a significant amount of qualified […]Read the article Opening a Business Account in US without Leaving Indian SoilThe Prospect of Opening a Business Account in the USA from India Over the course of the years between 1980 until 2019, the Indian immigrant population in the United States saw a 130 fold increase. As of 2021, Indian Americans make up about 1.2% of the US population, which comes up to about […]Read the article The End is Near: We Mean the Tax Year 2021The Tax Year-End is Nigh! It is that time of the year when we look back, take stock and ask ourselves: did we abide by all the New Year resolutions we made? Did we fulfil all the promises we made to ourselves? It is also the time when the taxman comes calling. We […]Read the article Elon Musk’s Tesla Stock Sales Demystified!Elon Musk Sells his Tesla Stocks – So What? Elon Musk seems to be omnipresent. He manages to find a place for himself in every single news cycle. Whether it is for overtaking Jeff Bezos to become the richest person in the world, giving his son a name no one can pronounce, or for exclaiming […]Read the article Guide to Taxation for Current and Potential Green Card HoldersThe Taxation side of the Green Card Story If you think cryptocurrency is the most coveted commodity in the world right now, think again. It’s not. It is the Green card, also known as the Permanent Resident Card. And as long as the US is dominating the world economy and providing numerous opportunities for lifestyle […]Read the article Incorporation of Subsidiaries in US by Indians – USA and India CFOTake your Business across the Atlantic Incorporation is when a company is legally recognized as its own entity, separate from the owners. It is essential for a company to get incorporated as it brings many advantages like tax gains, establishing perpetual existence, ease of transfer of ownership and many more. It is beneficial for the […]Read the article All you need to Know about FATCAWhat is FATCA? The Foreign Account Tax Compliance Act (FATCA) was enacted as part of the Hiring Incentives to Restore Employment (HIRE) Act by President Barack Obama in 2010 to encourage businesses to hire unemployed workers by offering incentives to employers. To fund the HIRE incentives, revenue-generating provisions were included in the HIRE Act through […]Read the article DTAA – Residential Status Norms and their ImplicationsThis article is the second one in a series on the Double Taxation Avoidance Agreement between India and the USA and discusses its implications on individual persons. Matters concerning artificial persons will follow in the next article in the series. The first one giving salient features of the DTAA can be accessed here. Residential […]Read the article Streamlined Voluntary Disclosure IRSThe Voluntary Disclosure Practice In March 2009, the IRS instituted the Offshore Voluntary Disclosure Program (OVDP) specifically for taxpayers with secret foreign bank accounts and/or other types of offshore financial assets. The program allowed non-compliant taxpayers to avoid criminal action and limit civil penalties on account of wilful failure to report and pay taxes on […]Read the article