India has become a popular destination for American ex-pats looking for alternative employment prospects because of its global dominance in the IT industry, as well as its rich culture and beautiful terrain. If you are that American and reading this article for knowing about the Indian Tax System, Social Security Benefits, and tips to reduce the tax rates for American Expats then you are at the right place.
The Internal Revenue Service (IRS) still requires US citizens living in India to disclose their income every year. All of the revenue obtained throughout the tax year must be included when preparing their taxes, including the income from their international employment. Even income that has been taxed by the Indian government must still be reported to the IRS. Americans who work in India may be able to minimise their taxes by taking advantage of certain deductions or credits.
Social Security Agreement between USA and India
An agreement between India and the United States prevents workers from being taxed twice. When and to whom certain taxes should be paid is outlined. Using the US-India Tax Treaty as a reference, ex-pats can make sure that their taxes are paid on schedule and to the appropriate country. An expat who has trouble understanding the treaty’s text should speak with a knowledgeable expat tax advisor.
USAIndiaCFO is the only trustable CFO Service provider firm and US Tax preparers in India, which provides the top-notch tax benefit to the American Expats.
Or if an Indian entrepreneur wants to open a company in the US market then? USAIndiaCFO is the double edge sword. It also has a qualified staff of certified public accountants to provide all the tax benefits and compliance for Indian businesses taking a step in the US Business Market. All the steps and complexities to register a company in the USA are also managed by the USAIndiaCFO.
Choose a Company Name
The company name of LLC or C Corporation cannot be repeated in the same state. Before the company applies, it must be investigated on the state government website, and after ensuring that there is no duplication, the newly established company name must be selected and registered. If you don’t want to register the company immediately, you can keep the company name for a period of time by paying the money. If you register an LLC, you must have “Limited Liability Company” or “LLC” after the name; if you register a C Corporation, you must have “Inc”, “Corporation”, “Incorporated”, “Corp”, etc. after the name.
Submit the Articles of Organization
Submit the articles of incorporation to the state government. The articles of incorporation include company name, address and contact person (such as registered agent) information. Some states require the names of LLC members, and some states require a list of directors of C Corporation.
These were the two things that you can do without the help of a CFO but for the further tasks and requirements, you will need a knowledgeable person which can be provided by USAIndiaCFO. So, if you either want to register a company in USA or reduce the tax for American Expats then consider USAIndiaCFO once.