r2i forum

Earlier in this thread , it was mentioned that moving expenses(to India) reimbursed by the employer cannot be claimed as a deduction. Now if the employer did not reimburse this expense, then can these expenses be categorized as an "above the line"(AGI) deduction?These expenses would include door to ...

Thanks for the advise. I was thinking along choosing a withdrawal plan that will make the marginal tax rate less than 35%.Since I wanted to see what the taxes after R2I looked like, I had started doing the foreign tax credit and foreign income exlcusion tax comparison. Since the difference between ...

Expected Annual Salary in India(for USC spouse)-40k
For GC -25k

(a) If you dont contribute to 401(k)/IRA now, where will you invest the after-tax money? Come to think of it, we have not even thought about where we would invest the after -tax money.As of now ,some the after tax money is in mutual funds,some in I-bonds and the rest is savings account. We have been ...

We intend to maintain the status this way for a while-one spouse USC and the other GC..No plans of relinquishing USC Marginal State Tax Rate-5% (VA) Well,like I mentioned earlier self-employed 401k contribution limits are quite high. One can contribute up till 44k or 45000 in a given year.So if one ...

Current Fed tax rate +state tax rate without contribution to 401k or any pension plans-33% Marginal rate does not seem to change -if we dont contribute we are dangerously close to 195,850 which is the limit for 28% whereas if we contribute the AGI comes well within the 28% tax rates. Since we dont ...

Bobus, Thanks for the corrections. Attached is the spreadsheet with the corrections. But I am not able to understand why the ratio calcuation should be (B2-10700*B2/B6)/(B6-10700) instead of (B2-10700)/(B6-10700). But I will try to re-read the link which you have sent and spend more time ...

Was snowed under a bunch of things for a while and didnt get a chance to review my calculations using Foreign tax credit method.

Attached is an updated xls where I have computed the tax ratio and arrived at the taxes using the Foreign tax Credit method.
Reviews would be helpful.

My understanding so far about computing the tax credits. I am trying to understand Pub.514 . Attempted to fill out form 1116 to arrive at the maximum credits allowed for foreign tax paid.Pub 514 says "If you paid or accrued foreign income tax for a tax year on income in more than one separate limit ...

Before getting around to doing a full blown xls with all the bells and whistles wanted to make sure that I am getting the basic tax calcuations right. Attached is an xls for MFJ+1 where I have attempted to compare US taxes during the first year of RNOR using both methods(foreign income exclsuion and ...