I am new to US and on a L1-A visa and have to complete my tax formalities to start getting paid in USA after my transfer to USA

This is my situation...

I received a gross salary of approx 4,00,000 INR... 8000 USD (equivalent of Indian Rupees converted to USD) from January 2006 to June 2006 and paid tax for that in India in INR

Now due to my transfer I am eligible for getting a salary of 76500 USD per year.

I am here with my wife and a baby and my wife does not have any US income. (IRS W4 form tells me I can get 6 exemptions based on this)

For the period July 2006 - Dec 2006 I will get 38250 USD as my salary in 6 pay checks. What is the tax that should be with held to avoid any tax penalties at the time of filing returns in 2007

Is there any professional who could contact me and help me at this point and later help me file returns to ensure compliane to tax structure and provide me with advice on how to legally minimize my tax out go and claim all possible deductions that I am not aware of currently? I am willing to pay a fee for this service as long as the fees are reasonable. My contact is 732-618-5376... Amit

Some of what you requested can be done online by first going to the IRS website which http//:www.IRS.gov... once there scroll to the following forms for individual income married and with children and dependents 1040... before we go further there was a form sent to you from your employer titled W-2 it is a tax and income statement form; from there if you attend any university within the United States scroll to form 8863... if you worked within a state that has collected a state income tax... example the state of TEXAS does not have a state income tax your will need... this information is for U.S. citizens.

NOW, if you are a dual status aliens you will need to file form 2555, 2555-EZ or 4563... this site has experts like the altantataxexpert and captainforest go to the members list and request their assistance... go luck...

LunaGoddess:

Thanks for the vote of confidence!

Amit:

I can help you file your taxes. I will post pre-filing advice here at no charge. If you wish to discuss details on how to file, contact me at [email protected]. I have references from several of your countrymen who have found me on this forum and used my tax preparation services.

There will be basically two options available to you when you file your return. You may want to select the option to file jointly with your wife as resident aliens. Or you may file dual status (not likely because of the deductions and credits you can get by filing as a resident alien).

I assume you already have an Individual Tax Identification Number (ITIN). You will have to file Forms W-7 when you file your tax return for your wife and child to get ITINs for them. All you really need for that are notarized photocopies of their passports.

Do NOT claim six exemptions on your W-4. Claim only THREE exemptions to ensure that enough money is withheld from your pay to cover your federal tax liability. Same logic applies for the state tax withholding. BTW, in which state do you reside?

If you have further questions, e-mail me at [email protected].