Income Tax Return
We prepare your taxes providing you with the best solutions while being compliant with current laws.
Tax ID/ ITIN
Tax Identification number(TIN) is a nine digit number used as a tracking number by the Internal Revenue Service(IRS). It is required information on all tax returns filed with the IRS
FIRPTA
Firpta is a tax law that imposes U.S income tax on foreign persons selling U.S real estate. Under firpta, if you buy real estate from a foreign person, you may be required to withhold 10% of the amount realized from the sale. The amount realized is normally the purchase price. The only other way to avoid FIRPTA is via a withholding certificate. If firpta withholding exceeds the maximum tax liability realized on the sale of the real estate property, sellers can appeal to the IRS for a lower withholding amount. There are some exceptions from Firpta withholding. We can discuss these options and help you through the process.
FBAR
As an American you might have a financial account banking, pension, investments and others outside of the United States. You might have special reporting requirements known as FBAR( Foreign Bank and Financial Accounts Reporting). The form you will fill out is FinCEN form 114.Understanding the basics behind FBAR filing is the key to having an easy tax season.Our experts can help you through this process.
Translation
We provide translations of documents and contracts to and from english, portuguese and spanish.
U.S Foreign Gifts, Death and Inheritance
Under the IRS rules, you need to report your foreign inheritance on form 3520-annual return to report transactions with foreign trusts and receipt of foreign gifts. We can guide you through this process.
FATCA
Firpta is a tax law that imposes U.S income tax on foreign persons selling U.S real estate. Under firpta, if you buy real estate from a foreign person, you may be required to withhold 10% of the amount realized from the sale. The amount realized is normally the purchase price. The only other way to avoid FIRPTA is via a withholding certificate. If firpta withholding exceeds the maximum tax liability realized on the sale of the real estate property, sellers can appeal to the IRS for a lower withholding amount. There are some exceptions from Firpta withholding. We can discuss these options and help you through the process.
