Who is an accidental American? One, who is born in America to foreign parents and by virtue of a birth in America, acquires American citizenship. (There are others who fall in the accidental category as well but this post refers to only the one category defined above) This accidental citizen may leave USA when the […]
We have all heard of Bitcoin and Ethereum – Cryptocurrencies that are also considered to be virtual currencies. So, what exactly is virtual currency? According to FinCEN – (Financial Crimes Enforcement Network), virtual currency is a “medium of exchange that operates like a currency in some environments, but does not have all the attributes of […]
The last decade saw expansive changes by the IRS to simplify tax procedures, improve voluntary compliance and acclimatize to the growing pace of globalization and the digital economy. While some initiatives proved successful, most fell short of the mark. In this blog we revisit a few significant tax reforms that had a major impact on […]
Today’s blog post provides the various deadlines and dates applicable in 2020 with respect to the 2019 tax year. Dates are included for individuals, corporations, C-Corps and S-Corps, Partnerships and trusts. Individual deadlines cover resident aliens, citizens of USA, citizens living abroad –expats and non –resident alien filers in USA. Individual tax payers have a […]
The rupee’s downward spiral may have been a cause for worry to Indian citizens, bankers and the government alike but it could prove to be a bonanza for the Indian diaspora spread across the world – in other words the NRI population. The depreciating rupee virtually and effectively ensured that real estate prices went down […]
The nature of most business owners is to place value on endeavors were the odds of success are higher. Marketing, business promotions, R&D are some that come to mind. While some love the number-crunching of bookkeeping and accounts, others hate to detract from business operations to focusing on minuscule details of their day-to-day finances. Love […]
How best you handle major unforeseen expenses, health issues, job cuts etc in the future depends on your financial preparation today. This article provides some tips on securing your finances, and determining the strategies that work best for you. Safeguard your finances with an emergency fund: Creation of an emergency fund is the best way […]
The choices you make relating to your Social Security benefits have a huge bearing on your financial future. Although you qualify to begin receiving your Social Security benefits at 62 years of age, a longer waiting period until you turn 70 will help earn a larger monthly benefit. You can check the retirement estimator, to […]
This blog will try to summarize the top changes made by the TCJA – Tax Cuts and Jobs Act. So what changed under the TCJA? – A lot of things but we will first look at those that have major impact on a wide section of the tax paying population. Under the TCJA, standard deduction […]
GKM’s USP is twofold: Help clients cut costs and improve bottom lines. Lighten their low value work load so that they can put more efforts into high value added work. This would translate into growth and stability in the long run both for GKM and for our clients. We believe in building long lasting relationships. […]
