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.

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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.