r2i forum

Had couple of tax questions regarding withdrawl from my IRA a/c. I am an USC based in India. 1. First of all as I try to make the withdrawl (my IRA is with Fidelity), I am given an option where the default is that 10% would be deducted by the custodian, in this case Fidelity. I am also given the ...

For claiming Foreign Earned Income exclusion the publication says I can use any 12 months period. [FONT=Helv][SIZE=2][B]Q1.[/B] I returned from US on Apr 28, 2006. Except for 1 week I have been in India through out till now. So do I qualify to file 2555/2555-EZ ? The reason I want to make sure about ...

[SIZE=2]I am an USC (R2I'ed) & am in the process of filing my US tax return online.[/SIZE] [SIZE=2][/SIZE] [SIZE=2]I have got my Form-16 from my Indian employer listing my gross income for the year. However apart from the gross income listed in Form-16 there are certain allowances/deductions I got ...

[quote=return2blore;19795]Hi msg # 20 You can consult Mr. Gurunath of Pierian Services at 080-26717541/2 (Bangalore #) or at guru at pierianservices dot com We are very happy with his services. Regards return2blore[/quote] Could you kindly give details as to what kind of service he provided (i.e ...

[quote=RRK;17781]If I am not mistaken, your IT payroll will show only TDS and not actual Tax paid. Your Actual tax payment will be on your tax return. Because your IT payroll wont show Indian dividends and interest, but your tax return will include those items.[/quote] You are correct that the IT ...

Bobus (or anybody else), could you comment on the following:- We R2I'ed (USC) & I have been working in India since May, 2006. So for US Tax return for year FY 2006, I would be claiming Foreign Tax Credit. For that I would need the [B]Gross Income[/B] & [B]Actual Tax paid[/B] for the period May-Dec ...

I did get a treadmill (ProForm 750 from Sears). I have been using that for last 6 months via a 2KW transformer. No issues yet.

Bobus,

Never mind; I went thru the very informative discussion you & Desi had on the other thread. Now I understand what you meant here. THANKS.

Bobus, I am not sure I understand your following statement :- >>> [COLOR=darkred][I]It is only taxable income that can be taxed at a higher marginal tax rate, under new foreign earned income exclusion rules. I used to think it was gross income that is taxed at a higher marginal tax rate, but the ...

Nand, The following assumption is incorrect :- >>>[I] On 250K say the total return on your portfolio is 10% - 25K and you are MFJ with 2 kids, Your tax on this 25K is close to 0 or very less. Your income comes under foreign earned income exclusion anyway.[/I] <<<< It is true that MFJ+2kids can get ...