Second Tax Education Seminar Hosted By IACCGH

RICHMOND: The Indo American Chamber of Commerce of Greater Houston (IACCGH) is hosting a series of tax seminars at various centers in the city to educate the community on the sweeping tax changes in 2018 as well as Overseas Bank reporting and Harvey affected Business Relief measures.

The second Tax seminar was held on Saturday, March 31, at Vadtal Dham in Aliana, Richmond and attracted young professionals and business owners who wanted to update themselves on the recently legislated 2017 Tax Cuts & Jobs Act.

The event commenced with a welcome address by Virendra Amin. He explained the center’s activities and briefly outlined the recent outreach efforts by the organization. He also commended the Chamber for their leadership in being the voice of the Indo American business community and the Speakers for volunteering their time on a weekend.

IACCGH Executive Director Jagdip Ahluwalia highlighted the Chamber’s 18 year old evolution, involvement and mission in promoting Houston’s economy. He also urged the young professionals in the room to become engaged in community efforts.

CPA Mahesh Desai presented the Foreign Bank account reporting and compliance relevance post the signing of the Intra governmental treaties between the US and India as well as the Amnesty scheme and the importance of foreign assets reporting.

Chamber President Swapan Dhairyawan, a leading CPA himself, went over the Tax Cuts and the new legislation which would affect the 2018 Tax Year filers. He drew attention to the business cuts and individual tax cuts that have been instituted in simple layman terms which helped the audience understand its provisions in a clear and concise manner. He also dwelt on charitable contributions and its relevancy in giving and taking advantage of itemized filing.

An interactive and lively Q&A followed after which the vote of thanks was made by Madanmohan Patel. He thanked the Chamber and the CPAs for addressing prominent tax changes during the crucial tax season to assist the community.

The next Chamber initiative is the Business Investment Conference to be held in League City on April 18. Please visit www.iaccgh.com for additional information and schedule of activities

Disclaimer: The IACCGH tax seminar is for advisory purposes only