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July News Letter | Tax Tips
July 21st, 2012 by

 
July/2012
Tax Tips From Sanjiv Gupta CPA

I am back from India.  It was a fun trip but as always it was short. It was great pleasure to see how fast India is growing. I spent most of the time in New Delhi and NCR area but I am sure rest of the India is also growing as fast as it can.  

How about your business?  I am trying to catch up on appointments but you can now call my office to schedule an appointment to take care of an urgent business.

Understand NRI/NRO Accounts
Picking the bank account for Indians living in United States can be little tricky. Various US and Indian laws can make one kind of account much more beneficial than the other.  Learn how to send money to India and how to bring the money back from India. 
Bank Accounts for NRI Explained By Sanjiv Gupta CPA
Bank Accounts for NRI Explained By Sanjiv Gupta CPA

 
A To Z of Home Deductions
If you have a home based business you can save money by availing home office tax deductions. The IRS allows you to save money on insurance, mortgage, repairs and other utilities, if you have an office at home. Home office deductions are applicable for all kind of homes irrespective of apartments, flats and even mobile homes. So if you are wondering how to claim a home deduction this article will provide you with all the basic information.          

Tax Rate For Year 2013

 

President Obama wants to keep the 10% to 28% tax rates with no change.  He also wants to bump the top two rates to 36% and 39.65.  At the same time, Republicans want to keep all the Bush Tax rates as is..
Call 510-825-7563 to make an appointment or visit us online at www.sanjivcpa.com
Issue: 1
In This Issue
NRI/NRO Accounts
A to Z of Home Deductions
2013 Tax Brackets
Medical Deductions

Medical Deductions
 

A medical deduction plan helps to reduce tax on medical expenses.  This type of plan is beneficial for one who has to spend excessively for medical issues.  
 
Medical deduction plans allow a person to qualify for tax exemptions. However to file tax return on medical expenses it is essential for an individual to present all supporting medical documents.
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