United State of America is considered as one of the most highly taxed economies of the world. Taxation is usually a resource of revenue for the government to run and deliver welfare to the population. In United States of America various type of taxes are being levied by the federal and the state government.
Procedure of Our Service at WeAccountax:
WeAccountax has emerged as one of the top class online accounting services firms in the US. By careful brainstorming session and risk assessment we have established a procedure for the taxation services. Procedure which enables the firm to provide quality service to the client.
Client scans the relevant documents and send it to their designated tax advisor at WeAccountax. WeAccountax prefers the client to send an encrypted and send it decryption through some other means of communication. This double control ensures the security and safeguard of client’s financial information.
Professionally our team of data entry operators enter the data into the prescribed system of relevant tax regulatory authority. This practices almost 100% accuracy and speed.
Tax Return Audit:
Senior tax advisor verifies the data entered by the data entry team. After making final adjustments, tax expert finalizes the return. This review prevents reporting any misinformation and ensures that WeAccountax uses all the rightly applicable provisions and articles of law relating to our client.
As an additional control in our tax calculator services, we send the return back to the client for final review. This includes the client’s perspective as well in the final return. Again the data is sent through an encrypted medium of communication to ensure that data is transferred in the most cost effective secure way possible.
Finalizing Return and Submission:
After input from client end, WeAccountax team finalizes the return and reviews one last time. WeAccoutnax submits the return to the relevant regulatory authority and sends another copy to the client for their record.
WeAccountax has a broad range of tax services customizable to the business needs of the customer. In an economy like US where various tax regulatory authorities are dealing with various taxes, an outsourcing firm is one of the best choices. Because of their experience these firms are well aware of the procedure of each of the returns, deadlines and expertise to handle the inquiries on behalf of the client.
Normally tax regulatory authorities in US offer an option for the tax filer to opt. Paper filing by mail or e-filing of income tax return. WeAccountax can respect the choice made by the client and customize the service accordingly.
WeAccountax specializes in following taxation:
Individual Tax Return:
Individual tax return pertains to the individual either earning through investment, employment or self-employed businesses. IRS and state regulatory bodies deal with partnership and company taxation separately. Individuals normally lack the basic know how about their taxation, exemptions and benefits they are entitled to. WeAccountax can advise the individual regarding the tax provisions applicable on their particular situation.
This practice prevents the individual from paying taxes which are not to be paid by them if relevant provisions of the tax are applied. This helps the individuals to avoid paying lesser taxes than actually due, saving the client from further fines and penalties. Individual income taxes if managed properly by professional consultants can save client a huge deal of a money annually.
In United States of America IRS, the tax regulatory body, applies corporation tax on Limited Liability Corporation registered in USA. These organization are separate legal entity which is why they are to be taxed on corporation tax.
Perks of corporation income taxes Partnership Income Taxes are that it is relatively lower than the income tax. WeAccountax has experts in USA corporation tax. We can add value into your company by giving best corporation tax consultancy to the client.
Partnership Income Taxes:
For the partnership businesses, WeAccountax has tax solutions including individual partnership and individual income tax filing as well. These can help the partnership to plan taxes starting from the partnership business to the individual level i.e. adding value in all levels through excellence and tax expertise.
Sales tax is the charged on the end consumer through the means of sales being made to the end consumer. Taxes are charged at various products are various rates. Usually sales tax is levied by the federal government.
WeAccountax has a sale tax registration, return filing and consultancy services. Sales tax registration services is a onetime service which helps the existing or new business to register with the regulatory authority of sales tax in USA.
Further Sales tax filing, is an extensive procedure of keeping the record of day to day transaction. WeAccountax has sales tax specialist which are expert in product and industry wise sales tax calculation. Our expert team is capable of maintaining proper filing and refer any query asked by the regulatory authority
Sales tax consultancy services are the services provided to the companies with established sale tax departments. Often sales tax departments inside the organization are seeking external consultancy for better approach to sales tax law.
Federal Income Tax Returns:
In US federal income tax and sales tax are under the jurisdiction of the federal government. Individual, corporations and partnerships are liable to pay taxes and submit returns as per the advised deadlines to the IRS.
State Income Tax Return:
Further after the federal taxation various states in United States of America levy their own taxation. State governments collects the tax revenue from these state income taxes. Individual, corporations and partnerships coming under the jurisdiction of state governments are liable to pay a certain tax before the deadline to the state government regulatory authority.
Why you need source documents?
To properly prepare your income tax return, you must be sure to have all source documents for each item that you will claim. Without proper records, there is more chance for reporting errors, overpaying taxes and over reporting income. When you submit an incomplete and inaccurate tax return, this can lead to a recalculation of the tax that you owe. In some cases, you could be hit with heavy fines for penalties and interest.
Where to get the information you need?
If your records are not in order, then most of the information for completing a tax return will already be in your files. For example, if you are an owner of a business refer to your company’s financial reports, depreciation schedules and payroll services report to start the procedure
What do WeAccounTax?
We can prepare and file your income tax return with our fast and efficient process using our unique online system. You can speak to our accountant if you have any queries. If you need help, you can contact us, because our clients are important to us.