Sparsh Kumar Ganeriwala, EA
Senior Tax Manager | US/Foreign Trusts, GILTI Specialist
IRS qualified Enrolled Agent (EA) Federally authorized to practice before the IRS on all US tax matters Degree in Bachelor of Commerce (B.Com)
What does it mean to be self-employed as a US expat in India?
If you work for yourself, whether as a freelancer, contractor, or small business owner, the IRS considers you to be self-employed.
Whether you’re a US/Indian dual national, Green Card holder or short-stay US expat, the rules apply to all “US people”.
This means you do not have a legally registered company and earn income independently. Examples include offering consulting services, running a small shop, or working on independent contracts.
Read more here.
Reporting Indian Rental Income to the IRS
If you’re a US citizenship holder living in India and have property that earns rental income, whether it’s an Airbnb or any rental property, you need to understand how to report this income to the IRS.
Many people mistakenly believe that since the property is outside the US and they’re already paying taxes in India, there’s no need to report it in the US.
The IRS taxes your worldwide income, which means that even if your property is in India and you’re already paying Indian taxes on it, you still need to report that income on your US tax return.
Read more here.
How is cryptocurrency taxed for US expats living in India?
Cryptocurrency is another popular investment option, but the tax rules for crypto are quite different in India compared to the US.
In India, the government is very strict about cryptocurrency, and they tax crypto gains at the highest marginal rate, which can be up to 34.5%. This high tax rate applies regardless of whether the gain is short-term or long-term.
Read more here.