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ITINs that have not been used on a tax return for Tax Year 2016, Tax Year 2017 or Tax Year 2018 will expire December 31, 2019. Additionally, ITINs with middle digits of 83, 84, 85, 86 or 87  (e.g. 9NN-83-NNNN) will also expire at the end of the year.

• Income from foreign investments must be reported on your U.S. tax return. We can help ensure accurate reporting and compliance

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• The substantial presence test determines if you are considered a U.S. resident for tax purposes based on your physical presence. We can help you understand and apply this test.

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• You may be able to claim a foreign tax credit or deduction for taxes paid to a foreign country. We can help you claim these credits.

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Failure to report foreign accounts exceeding $10,000 can result in severe penalties under the Foreign Bank Account Report (FBAR) and FATCA regulations. The penalties can include:

1. Civil Penalties:
   • Non-willful violations can result in penalties up to $10,000 per violation.
   • Willful violations can result in penalties up to the greater of $100,000 or 50% of the account balance.
2. Criminal Penalties:
   • In severe cases, criminal charges can be filed, leading to fines and potential imprisonment.

Additionally, not reporting can lead to increased scrutiny and audits by the IRS. It’s crucial to comply with these reporting requirements to avoid these serious consequences. We can guide you through your tax obligations.

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• Failure to report foreign income can result in penalties and legal issues. We can help ensure you comply with all reporting requirements.

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• FATCA (Foreign Account Tax Compliance Act) requires reporting of foreign financial accounts. We can help ensure you meet FATCA requirements.

• It depends on the state. Some states require filing if you maintain residency. We can help you determine your state tax obligations.

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• You may be able to exclude a certain amount of foreign earned income from your U.S. taxes. We can help you qualify and apply for this exclusion.

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• Large gifts from foreign persons must be reported to the IRS. We can guide you through the reporting requirements.

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• Foreign pensions and retirement accounts must be reported on your U.S. tax return. We can help ensure accurate reporting and compliance.

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• Our bilingual team (Portuguese and English), personalized support, and secure technology ensure your financial records are accurate and accessible, helping you focus on growing your business.

• Our bookkeeping services include detailed tracking and categorization of your expenses to ensure accuracy.
  

• You can send us a message via our secure portal, and we will respond promptly during business hours.
  

• We offer flexible payment terms, including monthly and annual billing options.
  

• Our services are focused on business bookkeeping to help you manage your company’s finances efficiently.
  

• You can upgrade or downgrade your plan at any time to better suit your business needs.
  
  

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• We will help you transition smoothly by coordinating with your current bookkeeper and transferring your financial data.
  

• Yes, Plus plan members enjoy exclusive discounts on additional services.
  

• Annual financial reports include a comprehensive summary of your income, expenses, and overall financial performance. The reports will be used to prepare the business tax return without any delays or stress.
  

• Simply contact us or request a quote through our website, and we will guide you through the onboarding process.
  

For employees, withholding is the amount of federal income tax withheld from your paycheck. The amount of income tax your employer withholds from your regular pay depends on two things:

• The amount you earn.
• The information you give your employer on Form W–4.

For help with your withholding, you may use the Tax Withholding Estimator. You can use the Tax Withholding Estimator to estimate your 2020 income tax. The Tax Withholding Estimator compares that estimate to your current tax withholding and can help you decide if you need to change your withholding with your employer.

Please find below the Tax Withholding Estimator

• Tax Withholding Estimator

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Direct deposit is one type of payment you can offer employees. It is used by 82% of workers, making it the most popular payment method. Many business owners like direct deposit because it is convenient. You can pay employees without having to hand them a physical check, which also makes it a safe payment option. You don’t need to worry about employees losing paychecks with sensitive business information. Some states let employers implement mandatory direct deposit.

Stay informed about federal, state, and local regulations, and seek advice from legal and business professionals.

You must have a seller’s permit with your state and collect and remit sales tax as required.

It depends on the initial structure of the business. If you think you might want to change the structure later, you might consider starting with the LLC for this flexibility.

Options include SBA loans, bank loans, and venture capital. A good credit score, business plan, and financial reports are essential.

Common types of insurance include general liability, property, and workers' compensation insurance. Contact an insurance broker to understand what insurance you must have based on the business operation and needs.

Register the company for payroll purposes in the respective business state, comply with labor laws, and use proper employment documents.

Annual reports, tax returns, and renewal of business licenses are common ongoing requirements, but the business requirements may vary based on the state and business structure.

Research state requirements or schedule a consultation to ensure compliance with local laws.

Yes, but you must comply with U.S. laws and regulations.

Yes, most states require a physical address for registration purposes.

• Company owners must approve the dissolution of the business
• You need file the certificate of dissolution with the State
• You need to pay all debts with the State.
• You need to file final tax return for the business
• Notifying creditors your business is ending
• Distribution of the remaining assets

We offer a full service package and can help you, let us know.