Taxes are imposed on net income of individuals and corporations by the federal, most state, and some local governments. Citizens and residents are taxed on worldwide income and allowed a credit for foreign taxes
State rules for determining taxable income often differ from federal rules. Federal tax rates vary from 10% to 39.6% of taxable income. State and local tax rates vary widely by jurisdiction, from 0% to 13.30% of income, and State taxes are generally treated as a deductible expense for federal tax computation.
Types of Taxes:
– Total income
– Adjusted Gross Income
– Taxable income
– Investment income
– Real Estate Transaction Tax
– Heritage and Gift Taxes
– Alternative Minimum Tax- AMT
– Stock Option plans
– When a legal status is determined in the United States (individuals, employees, green card holders in the United States), individuals are required to file a tax return and fulfill their tax obligations. Determining the tax rate will depend on:
– Total income minus expenses, including deductions and exemptions
– Marital Status (single / married)
– Due to the complexity of the US Taxation System and the fact that each taxpayer has different tax status and demands, INTER-TAX offers a comprehensive tax solution designed to help customers:
– Understanding your / family’s tax status.
– Minimize the income tax paid to the US government.
– Rational review of heritage and gifts taxes.
– Maximize your retirement funds (as required).
– Diversify assets in line with financial goals.
By the following solutions:
– Plan to enumerate & protect property before immigration
– Tax Consultancy with American, Australia CPA
– Make and optimize tax plans
– Asset Management
– Trust Services