Matthew Ledvina Reflects on The Tax Implications for An Undivided Hindu Family in the US
Oct 2, 2020
Matthew Ledvina highlights the analytical challenges of looking at the tax implications for an undivided Hindu family in the US.
Zurich, Oct 2, 2020 (Issuewire.com) - Matthew Ledvina, an experienced and highly revered tax advisers in the country, has said that the key purpose of a Hindu Undivided Family (HUF) is to manage the family-owned property. Ledvina has emphasized that this is the preferred legal entity to manage the family estates for the majority of wealthy Indian families based in the US. He has years of experience in working with clients where the property is not owned by one or two members, but rather by the entire family.
"The IRS has not set any proper US tax classification for HUF, so it can only be speculated as to how HUF will be treated under the tax laws," says Matthew Ledvina. "If HUF was created to vest trustees with the responsibility to protect and conserve the property for the beneficiaries and not for business, then it is usually classified as a kind of foreign trust under the US tax laws."
This is only one of the tax implications associated with the HUF, and there are many situations where a HUF might not be ruled as a trust under the tax laws. It can also be classified as a corporation, while implies filingForm 5471 and 8938, as opposed to Forms 3520, 8938, and FBARs for trusts. The tax implications of a HUF are difficultto fathom without a tax planning expert.
An expert like Ledvina, with his years of working as a tax adviser and planner for businesses and families, is the person to rely on in this regard. He has knowledge in tax implications for estates, cross-border tax planning, and trust and foundation structuring. Matthew Ledvina, US Tax Adviser,has a broad understanding on subjects like multi-jurisdictional tax planning for families with US connections and family governance, due to his years of being in this field.
Presently, Ledvina is associated with a successful Fintech Company in London, along with being the senior tax adviser for Aerium Strategies, a company founded by him. His expertise and knowledge in a wide-range of tax areas has earned him the trust of individuals, families, and businesses alike. He has even featured in several prominent publications, sharing his insights on the tax laws of the US.
About Matthew Ledvina:
Matthew Ledvina is the co-founder and specialist tax adviser for Aerium Strategies, and the director for a London based Fintech Company that primarily deals with asset-backed lending. He has worked as a tax adviser previously for Baker McKenzie, which is similar to the role he currently plays at Aerium Strategies. Ledvina has helped family offices, private banks, brokers, and families to fulfill their tax obligations. Cross-border tax planning happens to be one of his areas of expertise. Apart from his expertise in tax planning and strategies, his other areas of interest include Fintech, artificial intelligence, and art.
For more information, visit www.matthewledvina.com/
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Source :Matthew Ledvina
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