Tax Planning in the USA
Planning not only helps in claiming the right deductions, but also in preparing your tax returns properly, avoiding penalties & scrutiny, and in increasing predictability and profitability to your business.
Ensuring tax compliances and on time filing of returns can be quite a challenge for small and macro scale businesses. Being on your toes with any tax development, its implication on your business, making revenue prognosis to ascertain tax liability then adjusting investments and deductions around it, calculating deductions, keeping up with filing dates, etc takes away a lot of your time which you could have invested in business development.
No business person wants to pay a penny extra to the Internal Revenue Services (IRS) than what they legitimately owe them after claiming all the deductions and exemptions.
Applicable US Taxes on Businesses
- Federal and State Income Tax
- International Tax (in case you have income sources cross-border)
- Sales Tax
- Franchise Tax
- HR & Payroll Taxes
- Taxes on capital gains
Applicable US Taxes on Individuals
- Federal and State Income Tax
- International Tax (in case you have income sources cross-border)
- Taxes on royalties (for writers, music composers, etc)
- Property tax
- Taxes on capital gains
Need for Professionals
Many individuals, organisations, especially startups and small businesses try to save on the paltry fee of professional advice by trying to figure out their taxes on their own.
At the very least, you will end up being tangled with tax compliances, filing dates, furnishing documents, running from pillars to poles, losing a scarce business bandwidth.
Some of our clients, before coming to us, were suffering due to lack of tax optimisation and were paying extra due to missing filing dates, or not bifurcating the income properly in the right categories, etc. We rectified the situation, resulting in substantial savings.
We provide solutions for all the finance/ accounting/ tax/ assurance related requirements of your business, saving you on the hassle of coordinating with multiple service providers for every other business thing and salvage you from the cost of changing the service provider as the business grows.
USAIndiaCFO Advantage
One paramount principle we have developed is “Clients’ problem is our problem and clients’ growth is our growth”.
We help you plan your taxes, along with providing a range of other services to take full accountability as the virtual CFO to your business.
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