Benjamin Parry: A Ghanaian Tax Professional in the U.S. Advocating for Investment Back Home
Mr. Benjamin Parry, a Ghanaian-born who resides in Aberdeen, Maryland, is a certified tax professional with a Master’s degree in Public Administration from the University of Baltimore, specializing in budgeting and fiscal administration (taxation).
He is a regular guest on SVTV Africa’s Daily Hustle Worldwide with DJ Nyaami, where he shares insights on taxation, financial management, and investment opportunities.
Currently serving as a supervisor in the state of Maryland, Mr. Parry emphasizes the importance of tax compliance for individuals residing in the U.S. He explains that tax filing is mandatory starting January 1st for the previous tax year, with a deadline of April 15th.
Who Needs to File Taxes?
- If you earn $14,000 or less as a single individual, you are not required to file.
- Head of household status has a filing threshold of $29,000.
- If you are married and filing jointly, you must file if you earn above $29,320.
- Married but filing separately can be beneficial for tax recovery.
Who Is Exempt from Filing?
Certain groups are not required to file taxes, including:
- Retirees receiving Social Security retirement income.
- Individuals aged 62 and above, unless they have additional income sources.
Mr. Parry warns against allowing unauthorized individuals to file taxes on your behalf.
“The U.S. tax code is over 7,500 pages long—understanding it is a full-time job,” he said. “As tax professionals, our role is to ensure you get the maximum refund allowed by law.”
Tax-Deductible Expenses
Individuals can benefit from various tax deductions, including:
- W-2 employees and those investing in the stock market (capital losses can be deducted).
- Donations to charity.
- Government losses, home mortgage interest, medical expenses, student loan interest, and property losses.
- Business expenses, including home office costs, supplies, advertising, travel, business loans, and professional licenses.
- Health insurance contributions.
State Income Tax Variations
Some states, such as Florida, Nevada, Washington State, and Wyoming, do not impose state income taxes. However, residents of these states may still be subject to federal tax obligations.
Investing in Ghana: The Role of the Diaspora
Mr. Parry urges Ghanaians abroad—numbering over 3 million—to actively invest in Ghana’s development. He draws parallels with how Chinese investors transformed China and how Indians boosted India’s economy, stressing that Ghanaians can help move Ghana from a low-income to a middle-income country.
He highlights key sectors for investment, including:
- Real estate
- Manufacturing
- Agriculture
- Airbnb and hospitality
- Transportation
Technology & Business Management in Ghana
Mr. Parry owns a primary and junior high school in Ghana and has implemented a cashless payment system using mobile money.
“We don’t handle physical cash at the school—everything is done through mobile money, from school fees to feeding fees. This ensures transparency and better financial management,” he explained.
For Ghanaians looking to invest remotely, he recommends similar cashless systems for businesses like hotels, Airbnb, and transportation services, making it easier to manage operations from abroad.
Having lived in the U.S. for over 25 years, Mr. Parry visits Ghana two to three times a year to oversee his investments. He advises fellow Ghanaians to stay informed about laws and policies, as government regulations can change at any time.
For tax consultations, he can be reached at:
📞 410-858-04242
🌐 harrytaxservice.com
His message to the diaspora is clear: “Let’s invest back home and build Ghana’s future together.”
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