Trusted US Tax Company in India for Accurate & Hassle-Free Filing

The US follows a three-level direct taxation system: federal, state and local. Federal tax, and in most cases state tax, is levied on net income, but the two vary widely in tax rates, taxation mechanism, deductions granted, the kind of income taxed and the tax credits allowed.

Taxation systems also vary to a great degree between states: some states have a proportional tax and others a progressive one, and some states, such as Florida and Nevada, have no income tax at all.

Both income tax and business tax are subject to hundreds of regulations and variables. To list a few:

• the Tax Cuts and Jobs Act and tax accounting rules;
• what expenses to deduct, and the limit of deduction for each;
• how much state tax can be deducted from federal tax;
• whether to claim the standard deduction or itemise deductions;
• whether the mortgage on a commercial property is deductible;
• ascertaining the tax bracket on the basis of your total income from profession or occupation, estate, investments, capital gains and so on.

Federal income tax is charged at marginal rates. Since the Tax Cuts and Jobs Act amendments from 2018 there are seven federal brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37% of taxable income.

State and local tax rates vary by jurisdiction, and many are graduated. In the US, state tax is either proportional or progressive; most states have a progressive tax system, in which the tax increases along with the income, so state tax heavily varies from state to state.

We provide comprehensive services covering tax planning, documentation and the filing of tax returns, filing within the rules with legitimate planning so that you save what is rightfully yours. The types of return we often deal with:

• corporate tax returns;
• partnership tax returns;
• S-Corp returns;
• trust returns.

Our international clientele comprises high-net-worth individuals (HNWIs), startups and incumbent businesses.