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Q: |
What is the process for tax filing with you? |
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A: |
Here is the process
| FILL INFORMATION
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PREPARE & PLAN
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FILE TAX RETURN
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| 1. |
Register
in our website
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4. |
Set up an appointment with us for Tax Preparation
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7. |
Pay our fees
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Login to our website
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5. |
Tax Preparation Interview and Confirmation of earlier filled informations
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8. |
File Tax Return
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Fill in all the required information and upload documents
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6. |
Receive free tax refund quote
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9. |
Download Returns when ever needed
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Q: |
How much do you charge for tax filing? |
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A: |
Our fee is based on amount of work involved. It varies widely from case to case depending on your tax situation like:
- Single/Married/Dependents
- Standard filing/Itemized Filing
- Number of states you worked in last Year
- Forms needed for your tax filing
So, we will provide you a free* refund quote after reviewing your tax documents.
Along with quote, we also provide your fee details.You may decide at that point
if you want to move forward or not.
In general, our fee varies between 30$ for a simple standard return to $350 for Itemized complex return.
P.S: Our fee is NOT based on the refund. It is purely based on amount of work involved.
* Exceptions Apply !!
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Q: |
What are the services we offer ? |
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A: |
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Individual Tax Filing Services
Business Startup Services
Business Tax filings
Payroll Services
Life Insurance Services (Term Life, Whole Life, Universal Life, etc.)
Annuities,401k’s, IRAs, SEPs, Executive Bonus Plans Services
Estate Planning Services, Living Trust & Will Services. etc.
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Q: |
What are Tax Rates notified by IRS for 2020 ? |
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A: |
| Tax Rate |
Individuals |
Married Filing Jointly |
| 10% |
0 - $9,875 |
0 - $19,750 |
| 12% |
$9,876 to $40,125 |
$19,751 to $80,250 |
| 22% |
$40,126 to $85,525 |
$80,251 to $171,050 |
| 24% |
$85,526 to $163,300 |
$170,051 to $326,600 |
| 32% |
$163,301 to $207,350 |
$326,601 to $414,700 |
| 35% |
$207,351 to $518,400 |
$414,701 to $622,050 |
| 37% |
$518,401 or more |
$622,051 or more |
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Q: |
What are the Due Dates of 2020 Tax Filing ? |
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A: |
| January 16th |
4th Quarter 2020 Estimated Tax Payment Due |
| March 16th |
Businee Filing Due Date without Extension |
| April 15th |
Individuals Taxes and FBAR Due Date without Extension
1st Quarter 2021 Estimated payments and IRA 2020 Contributions Last Date
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| June 15th |
2nd Quarter 2021 Estimated Payments Due |
| September 15th |
Extension applied Business Filings Due Date
3rd Quarter 2021 Estimated Payments Due |
| October 15th |
Extension applied Individuals Filing Due Date |
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Q: |
What are the Tax Amendments for the year 2020 ? |
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A: |
Standard Deduction - In 2019 $24400 for Taxpayer & Spouse, In 2020 $24800 for Taxpayer & Spouse
IRA Deductions reamins the same ie. $6000
The income limits for claiming Child Tax Credit are $200,000 for single parents and $400,000 for married couples.
The bill eliminates the tax penalty for not having health insurance after December 31, 2018.
You can deduct any medical expenses above 7.5% of your adjusted gross income (AGI), which is your total income minus other deductions you have already taken.
Stimulus checks received will not count as taxable income. Instead, it’s being treated like a refundable tax credit for 2020.
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Q: |
Do you file for ITIN for dependents who does not have SSN? |
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A: |
Yes. We help filing for ITIN along with your Tax return filing. |
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Q: |
Do you file 1040 NR for Non-residents? |
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A: |
Yes. We do both 1040 and 1040 NR filings |
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Q: |
How long it takes to apply for ITIN? |
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A: |
Appling ITIN is part of your tax filing. As you can not e-file ITIN application,
it typically takes 8 to 12 weeks to process your tax returns when ITIN is needed. |
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Q: |
What is the process to apply for ITIN? |
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Please complete your registration at our website and submit your details.
During our call, we can explain you the complete process.
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Q: |
Do I need to include my Foreign Income in my tax filing? |
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A: |
If you are filing as resident, you need to include your worldwide income
in your tax return. However there are provisions for foreign income exclusions based
on your situations.
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Q: |
How do I check the status of my Federal Refund and how long does it take for deposit my refund? |
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Visit https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp to verify the status of refund If did e-file and a direct deposit, then normally it takes about 8 to 15 days
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Q: |
How do I check the status of my State Refund and how long does it take for deposit my state refund? |
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A: |
Click on the link next to the state to verify the status of state refund. It takes about 3 to 4 weeks (if did e-file and direct deposit). If it's a paper filing, then it will take little longer
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