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During his long and varied career, Raj Patel has relished the opportunity to share his accounting expertise with clients of many sizes across a wide array of industries. He has served small gas stations, hotels, nonprofit organizations, and Fortune 500 companies.

Qualifying individuals must report income earned in foreign countries on their US tax returns. The penalties for noncompliance are steep. Chugh CPAs, LLP CPA and Team Lead Neha Karnwal discusses important factors

The Senate recently passed Democrats’ $3.5 trillion budget resolution package. While the policy is not yet law, it could have major changes in store for how the US taxes cryptocurrencies. Specifically, the policy would impose reporting requirements on cryptocurrency brokers, similar to how stockbrokers must report customers’ sales to the Internal …

New Reporting Requirements Could Make it Easier for the IRS to Collect Capital Gains Tax on Cryptocurrency Read More »

Foreign companies that operate in the United States should evaluate where to incorporate their business based on a careful consideration of state tax laws and other regulations. Additionally, foreign companies may also derive tax benefits by choosing to structure their US entity as either a subsidiary or branch office. These …

Foreign Companies that Operate in the US: How to Structure your US Entity and Where to Incorporate Read More »

During this discussion, Chugh CPAs, LLP Partner, and CPA Baljeet Singh covers how to file taxes in the United States for your foreign assets and income, including real estate, mutual funds, and more. He also goes into detail about who needs to file returns FBAR and Form 8938, and the …

How to Report Foreign Assets on US Taxes and Save on Penalties Read More »