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Information and consultations are always free at Fiducia Tax.

We at Fiducia Tax electronically file your return with the IRS. If you are eligible for a refund, you will receive it via check in an estimated 21 to 28 days, or it can be directly deposited into your bank account by the IRS in an estimated 8 to 15 days.

US Individual Tax Services :

When you file a personal Income tax return, you'll use Form 1040 for Federal to report your income, deductions, "other taxes," tax credits, and ultimate tax liability. Your 1040 provides the basics, and it dictates which other forms you need to attach to your tax return.

The ultimate goal of 1040 is to figure your tax liability (how much you need to pay in taxes) or tax refund (how much you'll get back). You start with your different forms of income and then apply any relevant deductions and credits (and other taxes besides federal taxes that apply to you).

If you were a Non-resident alien student, teacher, or trainee who was temporarily present in the United States on an “F, J,M,Q" visa, or not qualifying for 183 days you are considered engaged in a trade or business in the United States. You must file Form 1040-NR, U.S. Nonresident Alien Income Tax Return only if you have income that is subject to tax, such as wages, tips, scholarship and fellowship grants, dividends, etc.

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and who are not eligible to obtain a Social Security Number – SSN.

A dependent must've lived in the United States beyond 183 days for the taxpayer to apply for an ITIN for their dependents (spouse, children, close relatives, etc.). However, there are some exceptions to this rule.

If both states collect income taxes and don't have a reciprocity agreement, you'll have to pay taxes on your earnings in both states: First, file a nonresident return for the state where you work. You'll need information from this return to properly file your return in your home state.

IRS e-file is the IRS's electronic filing program. You can get an automatic extension of time to file your tax return by filing Form 4868 electronically. You'll receive an electronic acknowledgment once you complete the transaction. Keep it with your records. Don't mail in Form 4868 if you file electronically unless you're making a payment with a check or money order.

Many mathematical errors are caught during the processing of the tax return and corrected by the IRS, so you may not need to correct these mistakes. Suppose you didn't claim the correct filing status, or you need to change your income, deductions, or credits. In that case, you should file an amended or corrected return using Form 1040-X, Amended US Individual Income Tax Return.

A United States person with a financial interest in or signature authority over foreign financial accounts must file an FBAR if the foreign financial statements' aggregate value exceeds $10,000 at any time during the calendar year. The full line item instructions are located at FBAR Line Item Instructions.

The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally requires that foreign financial Institutions and certain other non-financial foreign entities report on the foreign assets held by their US account holders or be subject to withholding on withhold payments.

Ask your employer to refund the erroneously withheld FICA taxes and, if a W-2 was already issued, to give you a corrected Form W-2c for that year. If your employer refuses to refund the taxes, you can file for a FICA claim, and the IRS will refund the money to you.

Our global tax compliance process ensures the accurate and up-to-date administration of your taxes. Our tax advisors will help you save precious time spent on mandatory activities, assuring your company's compliance with local tax regulations, such as: preparing the tax returns/tax filing, solving the local tax authorities' inquiries, and representation during inspections.

US Business Tax services :

Starting a company in the US is easy when you have the right partner. Fiducia Taxes expertise – our specialized legal team makes sure your incorporation meets all the legal requirements and is compliant with all applicable laws and regulations.

Your own company in all 50 states

No matter if you want to have an Inc. or LLC. We will establish your company in your favorite US-state. Remote? – Yes! Fiducia Tax offers minimal incorporation – now, you can set up a US company without leaving your home, even if you are a non-U.S. citizen.

No more hassle of visa application, no more unnecessary costs, and bureaucracy.

If you have more than one member in your business but have not otherwise incorporated as an S-Corp or C-Corp, you should likely be filing this return. It is reported on Federal Form 1065 and (if applicable) certain state schedules.We support all 50 states. This default classification arises if you apply for an EIN number for a business entity that has more than one owner. This default classification also arises if you have registered an LLC with your state and that LLC has more than one owner, equity partner, or member.

An S-Corp is a small business corporation structure allowed by the IRS. It is reported on Federal Form 1120-S and (if applicable) certain state schedules. We support all 50 states. This is not a default classification – rather, you must apply for it and be approved by the IRS. The appeal of this classification is that it allows for decreased self-employment taxes on your individual return. These tax savings may be substantial, depending on the annual net income of your business. Please contact us for more details or to file your annual return.

A C-Corp is a taxable entity that pays taxes in its own right. It is reported on Federal Form 1120 and (if applicable) certain state schedules. We support all 50 states. This structure is the default classification you must file with the IRS after you file as a corporation with your state or after registering your EIN as a corporation with the IRS. The C-Corp structure allows many shareholders and is the common classification for many Delaware startups and larger businesses.

What are Payroll Taxes in the US? Payroll taxes in the US are paid based on your employee’s pay and are paid directly to the government.

Payroll taxes are required and fund government programs such as social security, Medicare, and more.

Businesses are responsible for the payroll taxes of their employees and themselves. Using a payroll management service such as that offered by Fiducia Tax ensures your business is in continuous compliance with payroll laws and regulations in the US.

Responsibilities as a Small Business for Payroll Tax Management in the U.S.

Any business with employees is required to ensure payroll taxes are paid by withholding these taxes from employees’ paycheck and making the applicable payments for federal, state, and local taxes.

The taxes usually withheld from employee paychecks include FICA (Medicare and Social Security taxes) and federal, state, and local income taxes, if applicable. Other withholding obligations include FUTA (Federal Unemployment Tax Act) and, in states such as California, Hawaii, New Jersey, New York, and Rhode Island, disability insurance taxes.

When you outsource your payroll, the payroll management service provider ensures all applicable taxes are paid at every level; this helps clear up any confusion as taxes vary by state. There are heavy fines and penalties if you don’t pay taxes so it is important to pay them correctly and on time.

Payroll is not so straightforward and small mistakes can have a big impact on your business and employees.

We highly recommend outsourcing your US payroll to a company like Fiducia Tax. So you can Focus more on your business.

Indian Tax Services :

In total, there are six ITR forms for individuals, namely, ITR-1, ITR-2, ITR-2A, ITR-3, ITR-4, and ITR-4S. What are the income tax return forms that can be used by firms and companies? In all probability, firms and companies can use ITR-5, ITR-6, and ITR-7 to file their returns.

A corporate is an entity that has a separate and independent legal entity from its shareholders. Domestic, as well as foreign companies, are liable to pay corporate tax under the Income-tax Act. While a domestic company is taxed on its universal income, a foreign company is only taxed on the income earned within India, i.e., is being accrued or received in India.

Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities to collect tax on behalf of the government and avail Input Tax Credit (ITC) for the taxes paid his inward supplies.

Section 4 of the Indian Partnership Act, 1932 defines the firm as under: "Persons who have entered into partnership a with one another are called individually "partners" and collectively "a firm," and the name under which their business is carried on is called the "firm name."