Federal and State Tax Return Filing for Individuals

To list a few:

• Tax Cuts and Jobs Act and Tax Accounting Rules.
• What expenses to deduct?
• What is the limit of deduction of that particular expense?
• How much state tax can be deducted from federal tax?
• What if you are not a citizen?
• Whether to claim the standard deduction or itemize the deduction?
• Will your pension, Social Security or treasury securities be taxed?
• Ascertaining the tax bracket on the basis of your total income from profession/occupation, estate, investments, capital gains, etc?

You also need to be smart in filing your taxes with legitimate tactics and manoeuvre expenditure accordingly so that you can save every penny, which is rightfully yours.

The marginal tax rate for Federal tax varies from 10% to 37% of taxable income. After 2018 amendments in Tax Cuts and Job Act, we now have seven marginal tax brackets on the federal level, i.e. 10%, 12%, 22%, 24%, 32%, 35%, and 37%.

State and local tax rates vary widely by jurisdiction, and many are graduated. In the US, the state tax is either proportional or progressive. State tax heavily varies from state to state.

We comprehensively analyse your earning sources and bifurcate your income and expenses in the appropriate categories and give you specific figures for every variable.

We coordinate with clients on every step and keep them apprised with every discovery or development if any.

We help you file your federal and state taxes, along with providing a range of other services to take full accountability as your virtual CFO.