Individual/International Income Tax Preparation
Providing expert help for international entrepreneurs seeking to file a tax return with the IRS
The majority of US-based clients we assist here at Mount Bonnell Advisers are either permanent US residents, foreign nationals or legitimate US citizens with proven substantial assets within other territories including the Philippines, India, China or Western-European countries such as France or Germany.
Having foreign-based assets can cause complications to arise with regard to tax, but our experienced international tax services are guaranteed to help.
Why International Tax Support Is Important
If any overseas property or business interest generates income, a US tax liability will instantly be created. If this applies to you, it’s vital to speak with an expert specializing in international tax affairs – regardless of whether you’re a US citizen, a permanent resident or a foreign individual staying in the US.
One of the most common issues people face is Foreign Bank and Financial Accounts (FBAR) compliance, in addition to the Offshore Voluntary Disclosure Program (OVDP) appearing in the news over recent years. Luckily, Mount Bonnell Advisors offer specialist help with these issues, providing expert advice when needed.
So, if you’ve resided in the United States for all or part of a year and have international assets or business, you might incur tax liabilities. If this is the case, we can establish effective strategies to help you minimize US taxes payable for foreign-based assets.
Foreign Residents – Special Needs
If you receive US income but aren’t considered a US citizen, you’re likely to experience special tax problems. Even if 100% of your income is received in the United States, you may still legally be a citizen of a foreign country like the Philippines or China.
This can also apply to those considered permanent residents, and even students residing in the US with a student visa – or those living under a H1 visa. So, regardless of the ratio in which your US income is received, it’s crucial to discuss your circumstances with an international tax expert to ensure you’re as knowledgeable as possible of the obligations you face.
Individual Income Tax Preparation
Due to our levels of expertise within the tax field, we’re able to prepare accurate returns for a variety of entities. These include individuals, estates, partnerships and trusts.
Regardless of whether you need to file an entire tax report or simply have one W-2 to file, we’re on-hand to provide any assistance you may need – whenever you need it.
Efficient tax planning
Successfully projecting all tax liabilities before the end of each year can save a lot of stress and money. A vital part of the entire tax preparation process for both businesses and individuals, planning for tax is essential to ensure you’re prepared for due payments.
So, whether you’re part of a large partnership or an individual filing a return, we’re able to help establish tailored strategies guaranteed to help you. Also incorporating any new tax laws or legislation that may arise during the year, our expertise will encourage sensible choices at all times
Small Business Owners & the Self-employed
Whether you’re struggling to calculate home office deductions, equipment depreciation or establish how to start saving for your pension when you retire, we offer a wide range of tailored analysis and advice for sole proprietors and self-employed individuals i.e. freelancers.
Quarterly tax payments
If you typically receive unequal income throughout the tax year, are self-employed, an independent contractor or considered a commission-only employee, it’s likely you’ll have to make extra effort to stay compliant with IRS regulations.
If you don’t draw a standard, regular pay check with consistent withheld tax amounts, we can help you not only establish your exact tax obligations – but make sure you’re satisfying your quarterly tax payments in an efficient manner.
Planning and Preparation for Estate and Trust Tax
If you properly plan with regard to estate and gift tax, an organized transfer of assets to your beneficiaries will be facilitated – successfully providing security for your spouse and allowing you to reduce or totally eliminate due tax on the transfer of these assets.
Whilst typically considered complex, we’ll be there every step pf the way to not only help you get your financial affairs in shape, but also make all transitions smooth and hassle-free.
Need Advice on Taxation, Company Formation, and Residency in the United States?
Starting a business in the U.S. can be both exhilarating and exasperating. There is much to know and even more to learn, and the pace of the information coming at you can be overwhelming.
That’s where Mount Bonnell Advisors come in.
Would you like to live your very own American Dream? At Mount Bonnell, we can guide you through the labyrinth of regulation and red tape and out into the blue skies of a dream come true – the dream of living and working in America.
Whether it’s technical issues around tax or residency, or strategic ones involving business formation and growth, the experienced team at Mount Bonnell Advisors are here to help.
So make that dream a reality by booking a consultation today with Mount Bonnell Advisors. Let the adventure commence!