When filing for taxes, how do I show expenses, what documents do I need from the foreign company. Does anyone recommend a good accountant who deals with this in New Jersey.
Other - Taxes - 3 Answers
Random Answers, Critics, Comments, Opinions :
1 :
You are hurting your own citizens and neighbors, I hope you enjoy the tax breaks!
2 :
The tax implications are that eventually you will pay less taxes, because your sales will drop, because no American's will be working to buy your products. Just ask any of the Big 3 automakers what happens when you move your suppliers to other countries.
3 :
Exactly how does your company outsourcing to India affect you personally? If you traveled there on business, don't you report your expenses to your employer and then they reimburse you? Reimbursed expenses are generally not taxed as income unless you've been working outside your home state for at least a year. In general, to claim business expenses you'd have to complete Schedule A: Itemized Deductions. http://www.irs.gov/pub/irs-pdf/f1040sab.pdf http://www.irs.gov/pub/irs-pdf/i1040sa.pdf And for the rest of you whining about outsourcing, he personally doesn't get any tax breaks because his employer outsources. For that matter, neither does his employer. And I don't see people buying any less because of it. Do you even know which companies outsource and which don't?
