Telugu Association of Metro Atlanta (TAMA)
Tax Saving Seminar
The first TAMA Networking/Business Seminar for 2015 started off
on a successful note with more than 100 people in attendance.
The two-hour session held at Sri Krishna Vilas on 1st March was
the most attended and enthusiastic seminar in the recent TAMA
events.
The topic ‘Tax Savings and NRI Taxation’ presented by Prabhakar
Boyapally from Reddy CPA is a very relevant and timely topic as
he talked about the general tax system in detail and touched
upon various facets of the system like Basic Income tax
structure, tax saving opportunities (401K, HSA, FSA, 529 plans,
etc.), valid and invalid adjustments and deduction, child care
credits, higher education credits and many more. Prabhakar also
talked about the concepts of the corporations (LLC, S-CORP) and
the also the retirement contribution options within them. By the
way, Prabhakar has been helping TAMA in filing taxes and
auditing the accounts.
Following this with the NRI taxation system, Prabhakar talked
about the taxation of income from India, what needs to happen
and the concept of Double Taxation Avoidance agreement (DTAA)
and briefly touched upon repatriation opportunities.
The presentation went off for almost two hours without a break
which had the audience in rapt attention and waiting for more.
After a break for tea and snacks, Prabhakar took some time to
answer questions from the audience. This has been a very
educating and entertaining session and based on the input and
enthusiasm of the audience, we are planning one more session
mainly focused on NRI Taxation very soon.
The evening ended with the entire EC and Board present thanking
Prabhakar for volunteering to make this presentation and the
Chairman of the Board Rajesh Jampala talking about the plans for
long term projects and future seminars like this for the benefit
of the community.
Prabhakar also requested the community to give input for the
seminar and also for additional topics that can be presented.
President Vinay Maddineni thanked the audience for their
participation and also invited all for the upcoming Ugadi
celebrations on Mar 21st.
TAMA would like to thank Viju Chiluveru and Nagesh Doddaka for
facilitating this event, coordinating with TAMA EC and Board and
making it a success. We would also like to thank Sri Krishna
Vilas for accommodating a last minute venue change. And also
appreciate Kiran Mudigonda and team from Vakiti creations for
covering the event and for the media coverage.
TAMA has been organizing Business Networking Seminars since
2011. The focus of past events was on Business Franchises, Cloud
Computing, Student Loans, Will and Estate Planning, How to
prepare for Worst Economic Times. Several professional from
Indian community moderate these sessions.
Watch for our announcement of another similar session to discuss
tax obligations and implications for NRIs in May 2015.
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