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ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 190
Experience:  Business Consultant/Accounting Manager
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Attn: Robin D Robin Can you get info on the tax implications

Customer Question

Attn: Robin D
Hi Robin
Can you get info on the tax implications in US for the following scenarios. This helps us in structuring the Indian scenario as we are planning to acquire some interest in Indian LLP/ P Ltd Co.
I greatly appreciate your thoughts on this.
Please bill me for this along with one issue that was not billed in the last occassion
Regards
Scenario
Taxable / Exempted
If Taxable, then Tax rate
1. Taxability of share of profit from Ind***** *****mited Liability Partnership (LLP) in the hands of US LLC
2. Taxability of share of profit from Ind***** *****mited Liability Partnership entity (LLP) in the hands of US Individual shareholder
3. Taxability of Dividend income from Indian unlisted Pvt Ltd. Company (Dividend distribution tax is already borne by Indian company) in the hands of US LLC
4. Taxability of Dividend income from Indian unlisted Pvt. Ltd. Company (Dividend distribution tax is already borne by Indian company) in the hands of US Individual shareholder
Submitted: 4 months ago.
Category: Tax
Expert:  ABC Accounting Group replied 4 months ago.

In this situation, you can delay Part B enrollment without penalty until the employment stops or the insurance ends. So if you’re not yet drawing Social Security (or railroad) retirement benefits, just skip signing up for Part B.

For most people, Part A, which covers inpatient hospital bills, has no monthly premium and so there is no reason not to sign up for it.

The only time that a penalty happens:

If you sign up late for Medicare Part B, you will have to pay a late penalty premium every month for the rest of your life, along with your Part B premium. Your monthly Part B premium will go up 10% for each full 12-month period that you could have had Medicare Part B but did not take it.

I have more information - will send in a few minutes

Expert:  ABC Accounting Group replied 4 months ago.

If you aren't eligible for premium-free Part A, and you don't buy it when you're first eligible, your monthly premium may go up 10%. You'll have to pay the higher premium for twice the number of years you could have had Part A, but didn't sign up.

If you were eligible for Part A for 2 years but didn't sign up, you'll have to pay the higher premium for 4 years.

If you wait, the penalty will be no more than 10%.

Have a great weekend.

Expert:  ABC Accounting Group replied 4 months ago.

If you have any additional questions, I am here. Thank you.

Expert:  ABC Accounting Group replied 4 months ago.

If you have any additional questions, please let me know. Best Regards.

Customer: replied 4 months ago.
Sorry
Your response is totally not to the question I've asked for and the response is very irrelvant to the question I asked for. I do not know whether you understood my question!!!!!!
Expert:  ABC Accounting Group replied 4 months ago.

This was for another client - sorry - system issues.